sovereign debt and the financial crisis

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8/7/2019 Sovereign Debt and the Financial Crisis

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Ygcc

]fgs ]gdb

Hb Mgaabrbnt<

Bmgtbm hy

Korcls O. Zrgdl Hroio

Ioccgno O. Qgnkbcbttb

ONM ]FB

[LQBXBGIN MBH]

AGNONKGOC KXG[G[

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[lvbrbgin Mbht onm tfbAgnonkgoc Krgsgs

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[lvbrbgin Mbht onmtfb Agnonkgoc KrgsgsYgcc ]fgs ]gdb Hb Mgaabrbnt<

Bmgtbm hy

Korcls O. Zrgdl Hroio

Ioccgno O. Qgnkbcbttb

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© 8:?? ]fb Gntbrnotglnoc Hone alr Xbklnstruktgln onm Mbvbclpdbnt / ]fb Ylrcm Hone?6?6 F [trbbt, NYYosfgnitln, MK 8:=;;]bcbpflnb0 8:8-=9;-?:::Gntbrnbt0 www.wlrcmhone.lri

Occ rgifts rbsbrvbm? 8 ; = ?= ?; ?8 ??

]fgs vlcudb gs o prlmukt la tfb stoaa la tfb Gntbrnotglnoc Hone alr Xbklnstruktgln onm Mbvbc-lpdbnt / ]fb Ylrcm Hone. ]fb agnmgnis, gntbrprbtotglns, onm klnkcusglns bxprbssbm gn tfgsvlcudb ml nlt nbkbssorgcy rbacbkt tfb vgbws la tfb Bxbkutgvb Mgrbktlrs la ]fb Ylrcm Hone lrtfb ilvbrndbnts tfby rbprbsbnt.

]fb Ylrcm Hone mlbs nlt iuorontbb tfb okkuroky la tfb moto gnkcumbm gn tfgs wlre. ]fbhlunmorgbs, klclrs, mbnldgnotglns, onm ltfbr gnalrdotgln sflwn ln ony dop gn tfgs wlre mlnlt gdpcy ony `umibdbnt ln tfb port la ]fb Ylrcm Hone klnkbrngni tfb cbioc stotus la ony

tbrrgtlry lr tfb bnmlrsbdbnt lr okkbptonkb la sukf hlunmorgbs.Xgifts onm Zbrdgssglns]fb dotbrgoc gn tfgs puhcgkotgln gs klpyrgiftbm. Klpygni onm/lr tronsdgttgni plrtglns lr occ latfgs wlre wgtflut pbrdgssgln doy hb o vglcotgln la oppcgkohcb cow. ]fb Gntbrnotglnoc Hone alrXbklnstruktgln onm Mbvbclpdbnt / ]fb Ylrcm Hone bnkluroibs mgssbdgnotgln la gts wlre onmwgcc nlrdoccy iront pbrdgssgln tl rbprlmukb plrtglns la tfb wlre prldptcy.

Alr pbrdgssgln tl pfltlklpy lr rbprgnt ony port la tfgs wlre, pcbosb sbnm o rbqubst wgtfkldpcbtb gnalrdotgln tl tfb Klpyrgift Kcboronkb Kbntbr Gnk., 888 Xlsbwllm Mrgvb, Monvbrs,DO :?78;, R[O5 tbcbpflnb0 796-92:-6=::5 aox0 796-92:-==9:5 Gntbrnbt0 www.klpyrgift.kld.

Occ ltfbr qubrgbs ln rgifts onm cgkbnsbs, gnkcumgni suhsgmgory rgifts, sflucm hb ommrbssbmtl tfb Laagkb la tfb Zuhcgsfbr, ]fb Ylrcm Hone, ?6?6 F [trbbt, NY, Yosfgnitln, MK 8:=;;,R[O5 aox0 8:8-288-8=885 b-dogc0 puhrgiftsJwlrcmhone.lri.

G[HN0 796-:-68?;-6=6;-?bG[HN0 796-:-68?;-62=;-8MLG0 ?:.?271/796-:-68?;-6=6;-?

Klvbr gdoibsGdoib [lurkb/Ibtty Gdoibs5 Hbnsln FB, 8:?: Rsbm unmbr cgkbnsb arld [futtbrstlke.kld5Onmrb Hcogs, 8:?: Rsbm unmbr cgkbnsb arld [futtbrstlke.kld

Klvbr mbsginXutf0 Bmbcdon Gntbirotbm Dorebtgni

 Cghrory la Klnirbss Kotocligni-gn-Zuhcgkotgln moto fos hbbn oppcgbm alr.

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Gn dbdlry la lur klccboiub Mono Ybgst 

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vgg

Klntbnts

Alrbwlrm xvggOkenlwcbmidbnts  xgxKlntrghutlrs  xxgOhhrbvgotglns xxv

Gntrlmuktgln  ?Korcls O. Zrgdl Hroio onm Ioccgno O. Qgnkbcbttb

Zort G0 O Nbw Yovb la [lvbrbgin Mbht Krgsbs< ?;

  ?  ]fb [lvbrbgin Mbht Krgsgs ]fot Yos Nlt  ?2  Mongbc  Klfbn onm  Kçkgcb Qocomgbr

  8  Rnpcbosont [urprgsbs0 Mbtbrdgnonts onm Xgsesla [lvbrbgin Mbaouct =2

  Cuko Honmgbro, @bsðs Krbspl Kuorbsdo,onm Ioccgno O. Qgnkbcbttb

  ;  Agnmgni tfb ]gppgni Zlgnt0 Yfbn [lvbrbgin

Mbht ]urns Hom 1;  Dbfdbt Konbr, ]fldos Irbnnbs, onm

Argtzg Elbfcbr-Ibgh

  = Mbtbrdgnonts la Bdbrigni Dorebt [lvbrbginHlnm [prboms 99

  Mgdgtrg Hbccos, Dgkfobc I. Zopoglonnlu,onm Gvo Zbtrlvo

  2  [lvbrbgin Mbht Mgstrbss onm Klrplrotb[pgcclvbr Gdpokts ?:?

  Donsllr Mogcodg

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vggg  klntbnts

Zort GG0 ]fb Baabkts la tfb Krgsgs ln Mbht ?89

  1  Mbht [ustognohgcgty onm Mbht Mgstrbss gn tfbYoeb la tfb Lnilgni Agnonkgoc Krgsgs0]fb Kosb la GMO-Lncy Oargkon Kluntrgbs ?87

  Cblnorml Fbrnïnmbz onm Hlrgs Iodorro

  9  Ml Dgmmcb-Gnkldb Kluntrgbs [tgcc Fovb tfbOhgcgty tl Mboc wgtf tfb IclhocAgnonkgoc Krgsgs< ?9;

  Xocpf Qon Mllrn, Qgvbe [urg, onm[umorsfon Illptu

6  [docc [totbs, tfb Agnonkgoc Krgsgs, onmtfb Oatbrdotf ?72

  Bmiorml Aovorl, Mñrtb Mñdbconm,Ygccgod L‗Hlycb, onm ]gfldgr [tuk̄eo

  7  Burlpb‗s Krgsgs0 Lrgigns onm ZlcgkyKfoccbnibs 88? Bmiorml Aovorl, Wgni Cg, @uon Zrombccg,onm Xocpf Qon Mllrn

Zort GGG0 Mbht Xbstrukturgni Dbkfongsds0

Cbsslns onm Hbylnm 8=?

?:  Ovlgmgni Ovlgmohcb Mbht Krgsbs0 Cbsslns arldXbkbnt Mbaoucts 8=;

  Wubabn Cg, Xlmrgil Lcgvorbs-Kodgnoc,onm Ril Zongzzo

??  Donoigni [uhnotglnoc Krbmgt onmMbaouct Xgses 89;

  Cgcg Cgu onm Dgkfobc Yoghbc 

?8  Xbstrukturgni [lvbrbgin Mbhts wgtf Zrgvotb[bktlr Krbmgtlrs0 ]fblry onm Zroktgkb 872

  Dore C. @. Yrgift 

?;  O [tonmgni Orhgtroc ]rghunoc os o Zrlkbmuroc[lcutgln alr [lvbrbgin Mbht Xbstrukturgnis ;?9

  Kfrgstlpf I. Zoucus

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klntbnts gx

?=  Gntbrnotglnoc Cbnmgni la Cost Xbslrt onm[lvbrbgin Mbht Xbstrukturgni ;;?

  Bmuorml Abrnïnmbz-Orgos

Zort GQ0 Donoigni Zuhcgk Mbht gn Krgsbs0 Flw

Bxpbrgbnkbs Mgaabr ;22

?2  Donoigni Zuhcgk Mbht onm Gts Agnonkgoc[tohgcgty Gdpcgkotglns ;29

  Rmoghgr [. Mos, Dgkfobc I. Zopoglonnlu,Iugcfbrdb Zbmros, @oy [urtg, onm Aogsoc Ofdbm 

?1  Zuhcgk Mbht Donoibdbnt gn Bdbrigni DorebtBklnldgbs0 Fos ]fgs ]gdb Hbbn Mgaabrbnt< ;6;

  Zfgccgp X. M. Onmbrsln, Onmbrsln Koputl [gcvo,onm Ontlngl Qbconmgo-Xuhgonl

?9  Krgsgs Zrbporbmnbss onm Mbht Donoibdbnt gnClw-Gnkldb Kluntrgbs0 [trbnitfbngni Gnstgtutglnsonm Zlcgky Arodbwlres =?;

  Mono Ybgst, Brgel ]lil, Ohfo Zrosom, onm

Ygccgod L‗Hlycb

?6  Zuhcgk Mbht Donoibdbnt onm [lvbrbgin Xgsemurgni tfb Ylrst Agnonkgoc Krgsgs ln Xbklrm0Bxpbrgbnkbs onm Cbsslns arld tfb LBKM Orbo ==7

  Fons @. Hclddbstbgn

Gnmbx =19

Hlxbs9.? ]fb Gnmbx la Dokrlbklnldgk [pokb ?96??.? [uhnotglnoc Mbht Krgsgs onm Xbalrds gn Hrozgc 899

Agiurbs?.? Nudhbr la Mbaoucts pbr Kluntry, ?79:‛8::9 ?9?.8 Nudhbr la Mbaoucts pbr Wbor, ?79:‛8::9 ?6?.; Nudhbr la Mbaoucts pbr Kluntry Rsgni Dlmgagbm

Mbagngtgln la Mbaouct, ?79:‛8::9 8:?.= Nudhbr la Mbaoucts pbr Wbor Rsgni Dlmgagbm

Mbagngtgln la Mbaouct, ?79:‛8::9 8??.2 Nudhbr la Kurrbnky Krgsbs pbr Wbor, ?79:‛8::9 88

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x  klntbnts

?.1 Nudhbr la Honegni Krgsbs pbr Wbor, ?79:‛8::9 8;=.? Mbtbrdgnonts la BDHG [prboms 692.? Zrgvotb Klrplrotb Alrbgin Mbht Gssuonkb gn

Bdbrigni Dorebts, ?776‛8::7 ?:;2.8 Irlss Bdbrigni Dorebt Mbht, hy [bktlr,

?772‛8::7 ?:=2.; Bdbrigni Dorebt Hlnm Gssuonkb, hy [bktlr,

?776‛8::7 ?:22.= Zrgvotb Klrplrotb Hlnm Gssuonkb gn Bdbrigni

Dorebts, ?772‛8::7 ?:12.2 Zrl`bktbm Bdbrigni Klrplrotb Hlnm Dorebt

Xbagnonkgni Nbbms, 8:?:‛?; ?:92.1 [gducotgln Xbsucts alr Klrplrotb Hlnm Zrgkbs

onm Zrlhohgcgty la [lvbrbgin Mbaouct ???2.9 Zrlhohgcgty Mgstrghutgln la Zrl`bkt Kosf Aclw

unmbr ]wl [lvbrbgin Mbaouct [kbnorgls ??81.? _uortbrcy Irlwtf gn Illms Bxplrts,

Dorkf 8::9‛Dorkf 8:?: ?;:1.8 Klddlmgty Zrgkbs, @onuory 8::1‛@ucy 8:?: ?;?1.; Nbt Zrgvotb Kopgtoc Aclws tl Mbvbclpgni Kluntrgbs,

8:::‛:7 ?;?1.= Irlwtf gn Xbdgttonkbs tl Mbvbclpgni

Kluntrgbs, 8::2‛?? ?;81O.? Zrbsbnt Qocub la Mbht tl IMZ Xotgl Igvbn 8: Zbrkbnt

Bxplrt [flke ?271O.8 Zrbsbnt Qocub la Mbht tl Bxplrts Xotgl Igvbn

8: Zbrkbnt Bxplrt [flke ?1:1O.; Zrbsbnt Qocub la Mbht tl Xbvbnubs Xotgl Igvbn

8: Zbrkbnt Bxplrt [flke ?1?1O.= Mbht [brvgkb tl Ilvbrndbnt Xbvbnubs Xotgl

Igvbn 8: Zbrkbnt Bxplrt [flke ?181O.2 Mbht [brvgkb tl Bxplrts Xotgl Igvbn 8: Zbrkbnt

Bxplrt [flke ?1;1H.? Nudhbr la Bpgslmbs ohlvb ]frbsflcm ?1=1H.8 [ud la Kluntry Ovbroibs ohlvb ]frbsflcm ?111H.; [ud la Kluntry Doxgdud ohlvb ]frbsflcm ?169.? Klntrghutglns tl Kfonibs gn Zuhcgk Mbht tl

IMZ Xotgl, 8::8‛:9 ?919.8 Kfonibs gn ]ltoc Bxtbrnoc Mbht tl IMZ Xotgl,

8::8‛:9 ?999.; Gnmbx la Dokrlbklnldgk [pokb alr [bcbktbm

Kluntrgbs, Bnm-8::9 ?6:

9.= Kfonibs gn Irlss Xbsbrvbs, Bxkfonib Xotbs, onm[prboms lvbr R.[. ]rbosury Hgccs hbtwbbn @onuory‛Ouiust 8::6 (Zrbkrgsgs) onm[bptbdhbr‛Mbkbdhbr 8::6 (murgni Krgsgs) ?6?

9.2 Xboc IMZ Irlwtf, 8::9‛:7 ?68

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klntbnts xg

9.1 Kykcgkoccy Om`ustbm Zrgdory (Nlngntbrbst) Hoconkbs,8::9 onm 8::7 ?6;

9.9 Klntrghutglns tl Kfonibs gn Zuhcgk Mbht tl

IMZ Xotgl, 8::9‛:7 ?6;9.6 Dokrlbklnldgk [pokb Gnmbx, Bnm-8::9 onm

Bnm-8::7  ?629.7 Irlss Zuhcgk Mbht tl IMZ Xotgl, Bnm-8::7

onm Bnm-8:8: ?669.?: Zrgdory Hoconkb Om`ustdbnt Xbqugrbm Xbcotgvb tl

Fgstlrgkoc Zrgdory Hoconkb unmbr [kbnorgls ? onm 8 ?679.?? Zrgdory Hoconkb Om`ustdbnt Xbqugrbm Xbcotgvb tl

Fgstlrgkoc Zrgdory Hoconkb unmbr [kbnorgls ? onm ; ?7:6.? Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn

[docc [totbs, ?77:‛8:?= 8:66.8 Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn

[docc [totbs ]fot Mgm Nlt Xbkbgvb FGZKGngtgotgvb Xbcgba, ?77:‛8:?= 8:7

6.; Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs gn [uh-[oforon Oargko, ?77:‛8:?= 8?:

6.= Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs gn Cotgn Odbrgko onm tfbKorghhbon, ?77:‛8:?= 8?:

6.2 Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn [docc[totbs gn Burlpb onm Kbntroc Osgo, ?77:‛8:?= 8??

6.1 Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn [docc[totbs gn Bost Osgo onm Zokgagk, ?77:‛8:?= 8?8

6.9 Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs gn Hfuton onm Docmgvbs, ?77:‛8:?= 8?8

6.6 Zuhcgk Mbht tl IMZ Xotgl gn [bcbktbm [doccKluntrgbs, 8::9‛:7 8?;

7.? Kurrbnt Okklunt Hoconkbs la Burl Orbo Kluntrgbs 8887.8 Alrbgin Hones‗ Kcogds ln Ossbts la [bcbktbm

Burlpbon Kluntrgbs, ?777‛8::7 88;7.; Kurrbnt Okklunt, [ovgnis, onm Gnvbstdbnt gn[bcbktbm Burl Orbo Kluntrgbs, ?777‛8::7 88=

7.= Bxplrts hy Ibrdony, ?776‛8::7 8817.2 Kldpbtgtgvbnbss la [bcbktbm Burl Orbo Kluntrgbs,

?777‛8::7 8897.1 Nbt Gnkldb Gnaclws gn tfb Kurrbnt Okklunt,

?777‛8::6 8867.9 Nudhbr onm Murotgln la Mbacotglnory Bpgslmbs

hbtwbbn ?76: onm 8::6 8;8

7.6 Kuducotgvb Mbacotgln pbr Bpgslmb 8;;7.7 Gnacotgln onm Irlwtf gn tfb KAO Plnb, ?76?‛8::2 8;=7.?: Gnacotgln onm Irlwtf gn Oribntgno, ?772‛8::7 8;27O.? Mbkldplsgtgln la Irlwtf hy [lurkbs la Oiirbiotb

Mbdonm gn [bcbktbm Burl Orbo Kluntrgbs 8;9

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xgg  klntbnts

?:.? Bxtbrnoc Mbht, Zrgvotb Bxtbrnoc Mbht, onm ZuhcgkcyIuorontbbm Bxtbrnoc Mbht os [forb la IMZ, 8::2‛:7 82:

?8.? Murotgln la Mbht-Xbstrukturgni Mbcoys onm [gzb

la Fogrkuts, hy Gnkldb Cbvbc la Mbhtlr Kluntry 877?8.8 Murotgln la Mbht-Xbstrukturgni Mbcoys onm [gzb

la Fogrkuts, hy Xbigln la Mbhtlr Kluntry ;::?8.; Kfonib gn Gnmbhtbmnbss tl Zrgvotb Krbmgtlrs

alcclwgni Mbht Xbstrukturgni, hy Gnkldb Cbvbcla Mbhtlr Kluntry ;:?

?8.= Kfonib gn Gnmbhtbmnbss tl Zrgvotb Krbmgtlrs alcclwgniMbht Xbstrukturgni, hy Xbigln la Mbhtlr Kluntry ;:8

?8.2 [lvbrbgin Gnmbhtbmnbss gn Ngibrgo, ?79:‛8:?: ;:;?8.1 [lvbrbgin Gnmbhtbmnbss gn tfb [bykfbccbs, ?76:‛8:?: ;:=

?8.9 [lvbrbgin Gnmbhtbmnbss gn [gbrro Cblnb, ?79:‛8::7 ;:2?2.? Ilvbrndbnt Mbht tl IMZ Xotgl gn [bcbktbm Bdbrigni

Dorebt onm Mbvbclpbm Dorebt Bklnldgbs,8::: onm 8::7 ;1;

?2.8 Ovbroib Doturgty la Ilvbrndbnt Mbht, ?772‛8::6 ;11?2.; Mldbstgk Mbht [trukturb, ?772 onm 8::6 ;19?2.= Dokrlbklnldgk Mbvbclpdbnts gn Hrozgc, Dbxgkl,

onm ]ureby, 8::8‛?: ;16?2.2 Kldplsgtgln la Zuhcgk Mbht gn ]ureby, 8::8‛:1 ;9??2.1 Huy onm [bcc Ouktglns gn Hrozgc, 8::1 onm 8::6 ;99?1.? Zrgdory onm Lvbrocc Hoconkb os o Zbrkbntoib la

IMZ, hy Xbigln, 8:::‛:7 ;62?1.8 Kbntroc Ilvbrndbnt Mbht os o Zbrkbntoib la IMZ,

hy Xbigln, 8:::‛:9 ;61?1.; Bxtbrnoc Mbht os o Zbrkbntoib la Bxplrts la

Illms onm [brvgkbs, hy Xbigln, 8:::‛:9 ;69?1.= Irlss Bxtbrnoc Mbht onm Gntbrnotglnoc Xbsbrvbs

la [bcbktbm Kluntrgbs, 8::? onm 8::7 ;67?1.2 Xotgl la ]ltoc Bxtbrnoc Mbht tl Alrbgin Bxkfonib

Xbsbrvbs gn [bcbktbm Bdbrigni Dorebts, 8::?‛:7 ;7:?1.1 Xotgl la Bxtbrnoc tl Mldbstgk Mbht, hyXbigln, 8:::‛:7 ;7?

?1.9 Xotgl la Gntbrnotglnoc tl Mldbstgk [bkurgtgbs,hy Xbigln, ?771‛8::7 ;78

?1.6 Xotgl la Aclotgni Mbht tl Agxbm-Xotb Mbht,hy Xbigln, 8:::‛:7 ;7=

?1.7 Ovbroib Cgab la Zuhcgk Mbht gn [bcbktbmDorebts, 8:::‛:7 ;72

?1.?: Zbrkbntoib la ]ltoc Mbht Cgnebm tl Gnacotgln ;72

?1.?? Krbmgt Mbaouct [wop onm [lvbrbgin[prboms, 8::6‛:7 ;76

?1.?8 Qlcudb la Gssuonkbs onm Nudhbr la Mbocs gnBdbrigni Dorebt Kluntrgbs, 8::1‛?: ;77

?1.?; _uortbrcy Zlrtalcgl Aclws, hy Xbigln, 8::1‛:6 =::

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klntbnts xggg

?1.?= Gnmbx la Ibnbrgk ?:-Wbor Ilvbrndbnt HlnmWgbcms gn [bcbktbm Kluntrgbs, 8::6‛:7 =:?

?1.?2 Nbt Hlnm Aclws, hy Xbigln, 8::6‛:7 =:?

?9.? Nudhbr la [lvbrbgin Alrbgin KurrbnkyRpirombs, Mlwnirombs, onm Lutclles, 8::=‛?: =?=

?9.8 Oktuoc onm Zrl`bktbm IMZ Irlwtf, 8::1‛?= =?9?9.; ]ltoc Zrgvotb Kopgtoc Aclws tl Mbvbclpgni

Osgon Kluntrgbs, 8::2‛:7 =?6?9.= Zrgvotb Kopgtoc Aclws tl Kbntroc onm Bostbrn

Burlpb, 8::2‛:7 =?7?9.2 Zrl`bktbm Bxtbrnoc Agnonkgni Nbbms os o [forb

la IMZ gn 8:?:, hy Xbigln =8:?9.1 Clkoc Kurrbnky Cbnmgni os o Zbrkbntoib la ]ltoc Cbnmgni

hy Alrbgin Hones, ?777‛8::6 =8??9.9 AMG Aclws tl Mbvbclpgni Kluntrgbs, 8::6‛:7 =8??9.6 Kfonibs gn Xbdgttonkb Aclws, 8::1‛?? =88?9.7 Kldplsgtgln la Bxtbrnoc Zuhcgk onm Zuhcgkcy

Iuorontbbm Mbht, hy Gnkldb Cbvbc, 8::7 =8;?9.?: Krbmgtlr Kldplsgtgln onm Klnkbssglnocgty la

Bxtbrnoc Zuhcgk onm Zuhcgkcy Iuorontbbm Mbht gnClw- onm Dgmmcb-Gnkldb Kluntrgbs, 8::6 =8=

?9.?? Kurrbnky Kldplsgtgln la Bxtbrnoc Mbht gnClw-Gnkldb Kluntrgbs, 8::6 =82

?9.?8 Nbt Mgshursbm Ogm tl Krgsgs onm Nlnkrgsgs MlnlrKluntrgbs, ?799‛8::9 =81

?9.?; Nudhbr la Kluntrgbs Dbbtgni Dgngdud MbhtDonoibdbnt Xbqugrbdbnts =87

?9.?= Zbrkbntoib la Kluntrgbs Dbbtgni DgngdudXbqugrbdbnts, hy Gnkldb Irlup =;:

?9.?2 Mldbstgk Mbht os o Zbrkbntoib la ]ltoc Zuhcgk Mbhtgn Fbovgcy Gnmbhtbm Zllr Kluntrgbs, ?77?‛8::2 =;1

?9.?1 Nlnklnkbssglnoc Mbht onm Mbht [brvgkb gn

[bcbktbm Kluntrgbs, 8::9 ==??9O.? Zrlhcbd Orbos Gmbntgagbm hy tfb MbhtDonoibdbnt Zbralrdonkb Ossbssdbnt ==8

?6.? [flrt-]brd Mbht Gssuonkb hy LBKMIlvbrndbnts, 8::9‛?: =28

?6.8 Agskoc Mbagkgts gn Irlup la [bvbn Kluntrgbs onm tfbLBKM, 8::9‛?: =2;

?6.; [prbom hbtwbbn Clni-]brd onm [flrt-]brdGntbrbst Xotbs vbrsus Irlss Ilvbrndbnt Mbht =2=

?6.= Dorebtohcb Kbntroc Ilvbrndbnt Mbht gn

[bcbktbm LBKM Kluntrgbs, ?776‛8:?: =22?6.2 Clni-]brd Gntbrbst Xotbs gn [bcbktbm LBKM

Kluntrgbs, 8::9‛?: =21?6.1 Nbt Ilvbrndbnt Mbht Gntbrbst Zoydbnts gn

[bcbktbm LBKM Kluntrgbs, 8::9‛?: =29

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xgv  klntbnts

?6.9 Irlss onm Nbt Dorebtohcb Gssuonkb gn tfbLBKM Orbo, 8::9‛?: =26

?6.6 Zbrkbntoib Kldplsgtgln la LBKM Kbntroc

Ilvbrndbnt Mbht, ?776‛:6 =27

]ohcbs?.? [uddory [totgstgks ln Mbaouct Bvbnts ?7?.8 Mbtbrdgnonts la Mbaouct 8=?.; Xgse Kotbilry Mbagngtglns onm Nudhbr la Mbaouct

onm Nlnmbaouct Bvbnts, hy Kotbilry 82?.= Mynodgks la Xgse Kotbilrgbs 81?.2 [lurkbs la Xgse (z Aoktlr), hy Xgse Kotbilry 89?.1 Klntrghutgln la tfb Xgse Aoktlrs tl Mbaouct

Zrlhohgcgty, hy Xgse Kotbilry 86?.9 Nudhbr la Kluntrgbs gn Bokf Xgse Kotbilry, 8::7 87?.6 [lurkbs la Xgse (z Aoktlr), 8::7 ;:?.7 Mgstrghutgln la Kluntrgbs okrlss Xgse Kotbilrgbs

wgtf Ylrcm [flke Aoktlr [bt ot Agrst _uortbr 8:?: Cbvbc ;:?.?: Xgse Aoktlrs alr Kotbilry M onm B Kluntrgbs

os la Agrst _uortbr 8:?: ;:?.?? Xgse Kotbilrgbs la Kluntrgbs Aokgni Nbw Mbht Mgstrbss ;??O.? [lvbrbgin, Kurrbnky, onm Honegni Krgsbs, hy

Kluntry, ?79:‛8::9 ;8?O.8 Mbaouct Bvbnts onm [lurkbs la Xgse, hy

Kluntry, ?79:‛8::9 ;1?O.; Xgse Kcossgagkotgln la Kluntrgbs, 8::7 onm 8:?: ;78.? Qorgohcbs onm [odpcbs Rsbm gn [bcbktbm Bdpgrgkoc

[tumgbs ln Mbtbrdgnonts la [lvbrbgin Mbaouct =98.8 Mbskrgptgvb [totgstgks 2:8.; Dlmbc Ovbroigni Xbsucts 218.= Zrbmgktgln Xbsucts 27;.? Moto [lurkbs 12

;.8 ]frbsflcm Xbirbssgln Xbsucts unmbr Mgaabrbnt]frbsflcm Mbht Cbvbcs 16;.; ]frbsflcm Xbirbssgln Xbsucts unmbr Mgaabrbnt

]frbsflcm Mbht Cbvbcs, Bxkcumgni Gngtgoc IMZ 17;.= ]frbsflcm Xbirbssgln Xbsucts alr Mbvbclpgni Kluntrgbs 9:;.2 Bstgdotbm Alrilnb Irlwtf os o Xbsuct la

Bxkbbmgni tfb Mbht ]frbsflcm, hy Kluntry 9:;.1 IMZ Irlwtf onm Mbht Xotgl 98;O.? Kluntrgbs Klvbrbm, hy ]ypb 9;=.? Mbskrgptgln la tfb Qorgohcbs 6=

=.8 [uddory [totgstgks, hy Kluntry 66=.; Agxbm-Baabkts Bstgdotgln 78=.= Zllcbm Dbon Irlup Bstgdotgln 722.? [uddory [totgstgks alr Bdbrigni Dorebt [lvbrbgin

onm Klrplrotb Hlnms Gssubm, ?772‛8::7 ??=

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klntbnts xv

2.8 Mbtbrdgnonts la Bdbrigni Dorebt [lvbrbginHlnm [prboms ??2

2.; Mbtbrdgnonts la Bdbrigni Dorebt Zrgvotb

Klrplrotb Hlnm [prboms ??92.= [lvbrbgin [bcbktgvb Mbaouct Bpgslmbs onm [prboms

ln Alrbgin-Kurrbnky Hlnm Dorebts ?8?2.2 [pgcclvbr Baabkts arld [lvbrbgin tl Zrgvotb

Klrplrotb [bktlr ?881.? Mbptf onm Murotgln la Bxplrt [flkes ?;=1.8 [bvbrgty Gnmbx la [flkes tl Bxplrts ?;=1.; ]brds unmbr Yfgkf Nbw Mbht Gs Klntroktbm ?;21.= Ovbroib Nudhbr la Bpgslmbs okrlss ?8 Bxplrt

[flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns ?;9

1.2 Ovbroib Mbvgotgln arld ]frbsflcm okrlss Occ ?8Bxplrt [flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns ?;6

1.1 Doxgdud Mbvgotgln arld ]frbsflcm0 Dbon okrlssOcc ?8 Bxplrt [flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns ?;7

1.9 Ovbroib Nudhbr la Bpgslmbs okrlss Occ ?8 Bxplrt[flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns,Bntgrb [odpcb ?=:

1.6 Ovbroib Mbvgotgln arld ]frbsflcm okrlss Occ ?8Bxplrt [flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns,Bntgrb [odpcb ?=?

1.7 Doxgdud Mbvgotgln arld ]frbsflcm0 Dbon okrlssOcc ?8 Bxplrt [flkes unmbr Mgaabrbnt AgnonkgocKlnmgtglns, Bntgrb [odpcb ?=8

1.?: Doxgdud Mgaabrbnkb gn Oiirbiotb Gnmgkotlrs wgtfonm wgtflut ]ronsdgssgln tl IMZ, Bntgrb [odpcb ?=;

1.?? Xgse Xotgni Krgtbrgo Rsbm tl Bvocuotb tfb Gdpoktla Mgaabrbnt [flkes ln Kluntrgbs‗ Xgse Ossbssdbnts ?=;

1.?8 Xgse Xotgnis Hosbm ln ]ltoc Nudhbr laBpgslmbs gn Yfgkf Kluntrgbs Bxkbbm ]fbgr

]frbsflcms unmbr Mgaabrbnt Bxplrt [flkes onmAgnonkgoc Klnmgtglns, Bntgrb [odpcb ?=21.?; Xgse Xotgnis okklrmgni tl tfb Ovbroib Mbvgotgln hy

Yfgkf Kluntrgbs Bxkbbm ]fbgr Xbspbktgvb ]frbsflcmsokrlss Mgaabrbnt Bxplrt [flkes onm AgnonkgocKlnmgtglns, Bntgrb [odpcb ?=7

1.?= Xgse Xotgnis Hosbm ln Doxgdud Hrbokf hy YfgkfKluntrgbs Bxkbbm ]fbgr ]frbsflcms murgni Zrl`bktglnZbrglm unmbr Mgaabrbnt Bxplrt [flkes onm AgnonkgocKlnmgtglns, Bntgrb [odpcb ?2;

1K.? Bxtbrnoc Zuhcgk Mbht Hurmbn ]frbsflcms unmbr tfb Mbht[ustognohgcgty ]frbsflcm ?9:

9.? Kluntrgbs Gnkcumbm gn tfb [odpcb, hy Gnkldb Cbvbc ?9=6.? [docc [totbs, hy Xbigln onm Gnkldb Irlup ?796.8 IMZ Irlwtf gn [bcbktbm [docc [totbs, 8::;‛:7 ?77

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xvg  klntbnts

6.; Kurrbnt Okklunt Hoconkbs gn [bcbktbm [docc[totbs, 8::;‛:7 8:8

6.= Bstgdotb la Kfonib gn Xotb la Irlwtf onm Kfonib

gn Kurrbnt Okklunt Hoconkb 8:=6.2 Lvbrocc Zuhcgk [bktlr Hoconkb gn [bcbktbm [docc

[totbs, 8::;‛:7 8:26.1 Zrgvotb [ovgnis‛Gnvbstdbnt Iop gn [bcbktbm [docc

[totbs, 8::9 onm 8::7 8:16.9 Alrbgin Mgrbkt Gnvbstdbnt gn [bcbktbm

[docc [totbs, 8::;‛:7 8:96O.? Kurrbnt Okklunt Hoconkbs gn [bcbktbm [docc

Kluntrgbs, 8::;‛:7 8?26O.8 [uddory la Moto Ovogcohgcgty ln Zuhcgk Mbht

Cbvbcs gn [docc [totbs 8?97.? Mbht [tlke gn [bcbktbm Burl Orbo Kluntrgbs, 8::6‛:7 8877.8 IMZ Irlwtf hbalrb onm murgni Mbacotglnory Bpgslmbs

gn [bcbktbm Osgon Bklnldgbs 8;=?:.? [uddory [totgstgks 8=9?:O.? Mbht Xotgls la [bcbktbm Clw- onm Clwbr-Dgmmcb-Gnkldb

Kluntrgbs, 8::9 onm 8::7 818?:O.8 [uddory la Agnmgnis la KOGK Oumgt Xbplrt 81=??.? Agskoc Xucbs alr [uhnotglnoc Mbht Agnonkgni, hy

[bcbktbm Kluntry 86:?2.? Mbht Donoibdbnt Kfonnbcs tl Agnonkgoc [tohgcgty ;96?9.? Onocysgs la Bxtbrnoc/Mldbstgk Mbht Hgos =89?9.8 Zrglrgty Orbos alr Gdprlvbdbnt =;??9.; Eby Xgse Gnmgkotlrs la Bxgstgni Mbht Zlrtalcgl

gn [gx [odpcb Kluntrgbs =;2?9.= Zbrkbntoib la Mldbstgk onm Bxtbrnoc Mbht Lutstonmgni

oatbr ]frbb Wbors gn [bcbktbm D]M[ Kluntrgbs =;7?9O.? _uocgty la Mbht Donoibdbnt onm FGZK Bcgighgcgty ===?6.? Kfonibs gn LBKM Gssugni Zrlkbmurbs onm Gnstrudbnts

gn Xbsplnsb tl tfb Iclhoc Krgsgs =1:

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xvgg

Alrbwlrm

]fgs vlcudb ln donoigni slvbrbgin mbht gn tfb klntbxt la tfb agnonkgockrgsgs gs bxtrbdbcy tgdbcy. Ilvbrndbnts”bspbkgoccy ilvbrndbnts gn donyoaacubnt kluntrgbs”wgcc hb fbovgcy bnioibm lvbr tfb nbxt agvb ybors gnrbmukgni tfbgr agskoc mbagkgts onm donoigni corib puhcgk mbht plrtalcgls.

Donoibrs la slvbrbgin mbht sflucmbr bnlrdlus rbsplnsghgcgtgbs gnsbkurgni aunmgni, strukturgni mbht plrtalcgls tl hbst dbbt klst onm rgselh`bktgvbs, onm dbbtgni ltfbr mbht donoibdbnt ilocs, sukf os mbvbclp-gni on baagkgbnt mldbstgk dorebt alr ilvbrndbnt sbkurgtgbs onm donoi-gni tfb ilvbrndbnt‗s klntgnibnt cgohgcgtgbs. Ilvbrndbnt mbht donoibrsdonoib wfot gs usuoccy tfb coribst mbht plrtalcgl gn tfb kluntry onmtfb coribst cgohgcgty ln tfb ilvbrndbnt‗s hoconkb sfbbt. ]fbsb plrtalcgls

kon klntogn rgsey bxplsurbs, gnkcumgni sgingagkont prlplrtglns la alrbginkurrbnky‛cgnebm onm sflrt-tbrd mbht. Hbkousb tfby rbprbsbnt tfb ilvbrn-dbnt gn nbiltgotgni, strukturgni, onm bxbkutgni tronsoktglns, mbht don-oibrs ocsl korry gdplrtont rbputotglnoc rbsplnsghgcgtgbs onm rgse alr tfbilvbrndbnt.

Ilvbrndbnt mbht donoibrs fovb aokbm dony kfoccbnibs lvbr tfb post?: ybors. Orlunm tfb dgmmcb la tfb mbkomb, tfb iclhoc bklnldy irbw otgts dlst ropgm rotb gn =: ybors. Agskoc plsgtglns stbomgcy gdprlvbm5 gn sbv-broc omvonkbm kluntrgbs, ilvbrndbnt mbht donoibrs aokbm tfb prlspbkt

la donoigni o klntroktgni stlke la puhcgk mbht onm mbhotbm tfb dbrgtsla dogntogngni o sgzohcb onm cgqugm ilvbrndbnt hlnm dorebt. Ilvbrn-dbnts gn dony bdbrigni dorebt kluntrgbs bxtbnmbm tfbgr ygbcm kurvbs, osalrbgin gnvbstlrs gnkrbosbm tfbgr kurrbnky onm gntbrbst rotb bxplsurb onmmldbstgk gnstgtutglns gnvbstbm dlrb gn ilvbrndbnt sbkurgtgbs alcclwgnirbalrds tl tfb pbnsgln onm gnsuronkb sbktlrs. ]fbsb ilvbrndbnts ocslgnkrbosbm tfb doturgty la tfbgr mbht plrtalcgls onm rbmukbm tfb prlplrtglnla alrbgin kurrbnky‛mbnldgnotbm mbht.

]fb rbkbnt agnonkgoc krgsgs lrgignotbm gn tfb omvonkbm kluntrgbs. Gt mbd-lnstrotbm flw occ la tfb bcbdbnts tfot alrd tfb Hosbc GG pgccors, gnkcumgnidorebt mgskgpcgnb, klucm aogc gn o I-9 bklnldy, krbotgni bklnldgk gnstohgc-gty ln o iclhoc skocb. ]fb krgsgs dorebmcy gnkrbosbm tfb kldpcbxgty la tfbkfoccbnibs klnarlntgni ilvbrndbnt mbht donoibrs. Agskoc plsgtglns ropgmcymbtbrglrotbm, kldpbtgtgln alr aunmgni mrodotgkoccy gnkrbosbm, ilvbrndbnts

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xgx

Okenlwcbmidbnts

Gn ommgtgln tl tfb gnmgvgmuoc outflrs, tfgs vlcudb hbnbagtbm arld tfb gnputonm supplrt la dony pblpcb, tl wfld wb orb vbry irotbauc. Yb wlucmbspbkgoccy cgeb tl tfone Ltovgonl Konutl, Qgkb Zrbsgmbnt la tfb ZlvbrtyXbmuktgln onm Bklnldgk Donoibdbnt (ZXBD) Nbtwlre ot tfb YlrcmHone, alr fgs supplrt alr tfgs prl`bkt.

Yb irbotcy opprbkgotb tfb gnput arld tfb portgkgponts onm spboebrs ottfb [lvbrbgin Mbht onm Agnonkgoc Krgsgs klnabrbnkb fbcm gn ]ungs, ]ungsgo,Dorkf 87‛;:, 8:?:, kl-lriongzbm hy tfb Ylrcm Hone onm tfb OargkonMbvbclpdbnt Hone, os wbcc os tfb rbcotbm klnabrbnkb gn Yosfgnitln,MK, fbcm @unb 7, 8:?:. Yb bxtbnm lur irotgtumb tl tfb mgskussonts onmtfb kfogrs la tfb twl bvbnts, dony la wfld klntrghutbm tl tfgs hlle.

[pbkgoc tfones il tl Ngklcb Z. A. Hlccbn, Dorgo Konnoto, @ogdb Klrlnoml,Korcl Klttorbccg, Kcogrb Kfbrbdbtgnseg, B. Yfgtnby Mbhbvlgsb, ]fldosO. Muvocc, Onno Ibcpbrn, Gnmbrdgt Igcc, Dorkbcl Iguiocb, Iortf Irbu-hbc, Fbrvb @lcy, @óribn Eogsbr, Movgm O. Egfonigrb, Oort Erooy, NelsonoM. Dlyl, Hoho Wusua Duso, Oclysgus Rkfb Lrmu, Xopfobc Ltgbnl,Ilmarbm Owo Bmmy Zbnn, Hrgon Zgntl, Wvlnnb _uonsof, Orgnmod Xly,Xobm [oaomg, Dorgb-Onib [oroeo-Wol, Ibrry ]bbcgni, Irobdb Yfbbcbr,onm Mlnno Wborwllm, wfl prlvgmbm vocuohcb gnsgifts onm suiibstglnsmurgni tfb twl klnabrbnkbs.

]fb bmgtlrs onm tfb outflrs wlucm ocsl cgeb tl tfone [umforsfonKonoioro`of, Orgnmod Kfonmo, Onno Ibcpbrn, @on Ilttskfoce, GvogclGzvlrseg, ]flr-@uribn Irbvb Clhbri, @bnngabr Ebccbr, Dgzufl Egmo,Nolel El`l, Ouiustb ]onl Eluodb, Oort Erooy, Bmuorml Cby, Onnb-Dorgb Cbrly, Ltovgl Dbmbgrls, Dgkfobc Zldbrcbonl, @uon Zrombccg, DlnoZrosom, Dourgzgl Xoiozzg, Arbmbrgkl Igc [onmbr, Xo`u [gnif, Dgkfobc]ldz, onm [lno Qordo alr tfbgr gnvocuohcb klddbnts murgni tfb rbvgbwprlkbss la tfb donuskrgpt alr tfgs hlle.

Muonb Kfgctln, Mbtrb Mysln, Gvono ]gkfo, onm Mbhhgb [turibss, arldtfb Ylrcm Hone‗s Bklnldgk Zlcgky onm Mbht Mbportdbnt, prlvgmbm supbrhossgstonkb gn lriongzgni tfb twl bvbnts ln [lvbrbgin Mbht onm tfb Agnon-kgoc Krgsgs. Yb orb ocsl irotbauc alr tfb bxkbccbnt kllpbrotgln wgtf tfb

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xx  okenlwcbmidbnts

Oargkon Mbvbclpdbnt Hone gn lriongzgni tfb klnabrbnkb gn ]ungs. Hor-horo Eorng, @onbt [ossbr, [gmro Xbfdon, onm [tbpfbn DkIrloty wbrbgnstrudbntoc gn tfb bmgtgni onm prlmuktgln la tfgs vlcudb. Yb wlucm cgeb

tl okenlwcbmib tfb agnonkgoc supplrt la tfb Mbht Donoibdbnt Aokgcgty,wfgkf wos bssbntgoc gn doegni tfgs hlle o rbocgty.

]fgs hlle gs mbmgkotbm tl tfb dbdlry la Mono Ybgst, o argbnm, dbntlr,onm iugmb tl dony wfl klntrghutbm tl tfgs hlle onm dony dlrb hbsgmbs.Yb wgcc rbdbdhbr fbr alr fbr hbouty, irokb, wgsmld, onm bnbriy.

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xxg

Klntrghutlrs

Aogsoc Ofdbm  gs on bklnldgst gn tfb Dlnbtory onm Kopgtoc DorebtsMbportdbnt ot tfb Gntbrnotglnoc Dlnbtory Aunm.

Zfgccgp X. M. Onmbrsln gs oktgni mgrbktlr la tfb Honegni onm Mbht Donoib-dbnt Mbportdbnt ot tfb Ylrcm Hone ]rbosury.

Cuko Honmgbro gs on bklnldgst gn tfb Bklnldgk Zlcgky onm Mbht Mbport-dbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ottfb Ylrcm Hone.

Mgdgtrg Hbccos  gs on bklnldgks stumbnt ot FBK Zorgs onm BN[OB Zorgsonm o klnsuctont ot tfb Lriongsotgln alr Bklnldgk Kl-lpbrotgln onm

Mbvbclpdbnt.Fons @. Hclddbstbgn  gs o fbom la tfb Hlnm Dorebt onm Zuhcgk MbhtDonoibdbnt Rngt la tfb Lriongsotgln alr Bklnldgk Kl-lpbrotgln onmMbvbclpdbnt.

Dbfdbt Konbr gs o prlabsslr la bklnldgks ot Nlrtf Korlcgno [totbRngvbrsgty.

Mongbc Klfbn gs o prlabsslr la bklnldgks ot tfb Bklcb Nlrdocb [upçrgburbgn Zorgs onm vgkb prbsgmbnt la tfb Zorgs [kfllc la Bklnldgks, wfgkf fb

kl-alunmbm.

 @bsðs Krbspl Kuorbsdo gs o prlabsslr la bklnldgks ot tfb Qgbnno Rngvbr-sgty la Bklnldgks onm Husgnbss.

Donsllr Mogcodg gs tfb donoibr la tfb Bdbrigni Iclhoc ]rbnms ]bod gntfb Mbvbclpdbnt Zrlspbkts Irlup ot tfb Ylrcm Hone.

Rmoghgr [. Mos gs on ossgstont mgrbktlr gn tfb Dlnbtory onm Kopgtoc Dor-ebts Mbportdbnt ot tfb Gntbrnotglnoc Dlnbtory Aunm.

Mñrtb Mñdbconm gs o sbnglr bklnldgst gn tfb Bklnldgk Zlcgky onm MbhtMbportdbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbt-wlre ot tfb Ylrcm Hone.

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xxgg  klntrghutlrs

Bmiorml Aovorl  gs o cbom bklnldgst gn tfb Bklnldgk Zlcgky onm MbhtMbportdbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbt-wlre ot tfb Ylrcm Hone.

Bmuorml Abrnïnmbz-Orgos gs o prgnkgpoc omvgslr tl tfb Xbsborkf Mbport-dbnt ot tfb Gntbr-Odbrgkon Mbvbclpdbnt Hone.

Hlrgs Iodorro gs o sbnglr bklnldgst gn tfb Xbslurkb Dlhgcgzotgln Mbport-dbnt la tfb Klnkbssglnoc Agnonkb onm Iclhoc Zortnbrsfgps Qgkb-Zrbsgmbnkyla tfb Ylrcm Hone.

[umorsfon Illptu gs tfb sbktlr donoibr gn tfb Bklnldgk Zlcgky onm MbhtMbportdbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbt-

wlre ot tfb Ylrcm Hone.]fldos Irbnnbs  gs o prlabsslr la bklnldgks ot Nlrtf Korlcgno [totbRngvbrsgty.

Cblnorml Fbrnïnmbz  gs o cbom bklnldgst gn tfb Bklnldgk Zlcgky onmMbht Mbportdbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk DonoibdbntNbtwlre ot tfb Ylrcm Hone.

Argtzg Elbfcbr-Ibgh gs on bklnldgst gn tfb Bklnldgk Zlcgky Irlup la tfbCotgn Odbrgkon Xbigln ot tfb Ylrcm Hone.

Wgni Cg gs o klnsuctont gn tfb Bklnldgk Zlcgky onm Mbht Mbportdbnt latfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ot tfb YlrcmHone.

Wubabn Cg gs tfb fbom la tfb Mbht onm Mbvbclpdbnt Agnonkb Hronkf ot tfbRngtbm Notglns Klnabrbnkb ln ]romb onm Mbvbclpdbnt.

Cgcg Cgu gs o cbom bklnldgst gn tfb Bklnldgk Zlcgky onm Mbht Mbportdbntla tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ot tfbYlrcm Hone.

Ygccgod L‗Hlycb gs o klnsuctont gn tfb Bklnldgk Zlcgky onm Mbht Mbport-dbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ottfb Ylrcm Hone.

Xlmrgil Lcgvorbs-Kodgnoc  gs o slvbrbgin mbht bxpbrt gn tfb Mbht onmMbvbclpdbnt Agnonkb Hronkf ot tfb Rngtbm Notglns Klnabrbnkb ln ]rombonm Mbvbclpdbnt.

Ril Zongzzo gs tfb kfgba la tfb Mbht onm Agnonkb Onocysgs Rngt gn tfb Mgvg-sgln ln Iclhocgzotgln onm Mbvbclpdbnt [trotbigbs ot tfb Rngtbm NotglnsKlnabrbnkb ln ]romb onm Mbvbclpdbnt.

Dgkfobc I. Zopoglonnlu gs o mbputy mgvgsgln kfgba gn tfb [lvbrbgin Ossbtonm Cgohgcgty Donoibdbnt Mgvgsgln la tfb Dlnbtory onm Kopgtoc DorebtsMbportdbnt ot tfb Gntbrnotglnoc Dlnbtory Aunm.

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klntrghutlrs xxggg

Kfrgstlpf I. Zoucus gs o prlabsslr la cow ot tfb Fudhlcmt-Rngvbrsgtít zuHbrcgn.

Iugcfbrdb Zbmros gs o tbkfngkoc ossgstonkb omvgslr gn tfb Dlnbtory onmKopgtoc Dorebts Mbportdbnt ot tfb Gntbrnotglnoc Dlnbtory Aunm.

Gvo Zbtrlvo gs on bklnldgst gn tfb Agskoc Oaaogrs Mbportdbnt ot tfb Gntbr-notglnoc Dlnbtory Aunm.

 @uon Zrombccg  gs on bklnldgst gn tfb Bklnldgk Zlcgky onm Mbht Mbport-dbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ottfb Ylrcm Hone.

Ohfo Zrosom gs o sbnglr mbht spbkgocgst gn tfb Bklnldgk Zlcgky onm Mbht

Mbportdbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbt-wlre ot tfb Ylrcm Hone.

Korcls O. Zrgdl Hroio gs tfb mgrbktlr la tfb Bklnldgk Zlcgky onm MbhtMbportdbnt gn tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbt-wlre ot tfb Ylrcm Hone.

Onmbrsln Koputl [gcvo  gs o sbnglr mbht spbkgocgst gn tfb Iclhoc KopgtocDorebts Mbvbclpdbnt Mbportdbnt la tfb Agnonkgoc onm Zrgvotb [bktlrMbvbclpdbnt Qgkb-Zrbsgmbnky ot tfb Ylrcm Hone.

]gfldgr [tuk̄eo gs on bklnldgst gn tfb Bklnldgk Zlcgky onm Mbht Mbport-dbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ottfb Ylrcm Hone.

Qgvbe [urg gs o cbom bklnldgst gn tfb Zlvbrty Xbmuktgln onm BklnldgkDonoibdbnt [bktlr la tfb Bost Osgo onm Zokgagk Xbigln ot tfb YlrcmHone.

 @oy [urtg gs on bklnldgst gn tfb Dlnbtory onm Kopgtoc Dorebts Mbport-dbnt ot tfb Gntbrnotglnoc Dlnbtory Aunm.

Brgel ]lil gs o sbnglr bklnldgst gn tfb Bklnldgk Zlcgky onm Mbht Mbport-dbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ottfb Ylrcm Hone.

Kçkgcb Qocomgbr gs on bklnldgst ot tfb Oibnkb Aronéogsb mb Mçvbclppbdbnt.

Xocpf Qon Mllrn gs on bklnldgst gn tfb Bklnldgk Zlcgky onm Mbht Mbport-dbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ottfb Ylrcm Hone.

Ontlngl Qbconmgo-Xuhgonl gs o cbom agnonkgoc laagkbr gn tfb Honegni onmMbht Donoibdbnt Mbportdbnt ot tfb Ylrcm Hone ]rbosury.

Ioccgno O. Qgnkbcbttb  gs o sbnglr bklnldgst gn tfb Bklnldgk Zlcgky onmMbht Mbportdbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk DonoibdbntNbtwlre ot tfb Ylrcm Hone.

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xxgv  klntrghutlrs

Dgkfobc Yoghbc gs o Hrgtgsf Okombdy plstmlktlroc abcclw ot tfb Coutbr-pokft Kbntrb alr Gntbrnotglnoc Cow onm Mlwngni Klccbib ot tfb Rngvbrsgtyla Kodhrgmib.

Mono Ybgst wos o klnsuctont gn tfb Bklnldgk Zlcgky onm Mbht Mbport-dbnt la tfb Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbtwlre ottfb Ylrcm Hone.

Dore C. @. Yrgift gs on ossgstont prlabsslr la bklnldgks ot tfb Rngvbrsgtyla Kocgalrngo, Cls Onibcbs.

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xxv

Ohhrbvgotglns

$ Occ mlccor odlunts orb R.[. mlccors uncbss ltfbrwgsbgnmgkotbm.

HG[ Hone alr Gntbrnotglnoc [bttcbdbntsHDO Hoybsgon dlmbc ovbroigniHL] Hulng Lrmgnorg mbc ]bslrlKOK klccbktgvb oktgln kcousbKOGK Kldgsgûn poro co Oumgtlräo Gntbiroc mbc Krçmgtl ZðhcgklKOXGKLD Korghhbon KlddungtyKZG klnsudbr prgkb gnmbxKZGO Kluntry Zlcgky onm Gnstgtutglnoc OssbssdbntKXK kfodhrbs rbiglnocbs mbs kldptbs (rbiglnoc kfodhbrs la

okklunts)MbDZO Mbht Donoibdbnt Zbralrdonkb OssbssdbntMDA Mbht Donoibdbnt AokgcgtyMDL mbht donoibdbnt laagkbMXA Mbht Xbmuktgln AokgcgtyM[O Mbht [ustognohgcgty OnocysgsM[A Mbht [ustognohgcgty ArodbwlreBKKR Bostbrn Korghhbon Kurrbnky RnglnBDHG Bdbrigni Dorebts Hlnm Gnmbx

BDHGI Bdbrigni Dorebts Hlnm Gnmbx IclhocBZAX Bdbrigni Zlrtalcgl Aunm XbsborkfBR Burlpbon RnglnAKC acbxghcb krbmgt cgnbAMG alrbgin mgrbkt gnvbstdbntIMA Iclhoc Mbvbclpdbnt Agnonkb (motohosb onm puhcgkotgln)IMZ irlss mldbstgk prlmuktING irlss notglnoc gnkldbFGZK Fbovgcy Gnmbhtbm Zllr Kluntrgbs (Gngtgotgvb)GK[GM Gntbrnotglnoc Kbntrb alr [bttcbdbnt la Gnvbstdbnt

MgsputbsGMO Gntbrnotglnoc Mbvbclpdbnt OsslkgotglnGCCX gntbrnotglnoc cbnmbr la cost rbslrtGDA Gntbrnotglnoc Dlnbtory Aunm

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xxvg  ohhrbvgotglns

CKR clkoc kurrbnky ungtCCX cbnmbr la cost rbslrtD&O dbribr onm okqugsgtglns

DMXG Ductgcotbroc Mbht Xbcgba GngtgotgvbDAK dlst aovlrbm krbmgtlrD]M[ Dbmgud-]brd Mbht Donoibdbnt [trotbiy LBKM Lriongsotgln alr Bklnldgk Kl-lpbrotgln onm

MbvbclpdbntZGZ plstbrglr gnkcusgln prlhohgcgtyZDI pllcbm dbon irlupZZI puhcgk onm puhcgkcy iuorontbbmZXIA Zlvbrty Xbmuktgln onm Irlwtf Aokgcgty

_BM[ _uortbrcy Bxtbrnoc Mbht [totgstgksXGK rgse gnacotgln krgtbrgln[OX [pbkgoc Omdgngstrotgvb Xbigln (Kfgno)[&Z [tonmorm & Zllr‗s[MX [pbkgoc Mrowgni Xgifts[MXD [lvbrbgin Mbht Xbstrukturgni Dbkfongsd[M] [lvbrbgin Mbht ]rghunoc]OXZ ]rluhcbm Ossbt Xbcgba Zrlirod]GO ]rust Gnmbnturb OktQoX vocub ot rgseYBL Ylrcm Bklnldgk Lutclle (motohosb onm puhcgkotgln)

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?

Gntrlmuktgln

Korcls O. Zrgdl Hroio onm Ioccgno O. Qgnkbcbttb

 ]fb agnonkgoc krgsgs la 8::6 fos rbegnmcbm gntbrbst gn slvbrbgin mbhtkrgsbs odlni plcgky doebrs onm skflcors.? Fgstlry sflws tfot cbnm-gni hllds typgkoccy bnm gn husts, wgtf tfb hbnbagkgorgbs la mbht gn tfb

upswgni latbn alrkbm tl mbaouct lr rbskfbmucb tfbgr mbhts gn tfb mlwnswgni([turzbnbiibr onm Pbttbcdbybr 8::1). ]fb gdpokt la tfb agrst agnonkgockrgsgs la tfb 8?st kbntury ln kopgtoc aclws tl mbvbclpgni kluntrgbs onm tfbsgins la strbss gn mbht dorebts la sbvbroc Burlpbon kluntrgbs gn tfb agrstfoca la 8:?: rogsb tfb gnbvgtohcb qubstgln, Orb wb ohlut tl wgtnbss o nbwibnbrotgln la slvbrbgin mbht krgsbs<

]fgs hlle ommrbssbs tfgs qubstgln. Gt omlpts on gntbirotbm opprlokf hymrowgni ln hltf tfblrbtgkoc rbsborkf onm bxpbrgbnkb arld prlabssglnocsgnvlcvbm gn tbkfngkoc ossgstonkb gn tfgs orbo. Gt mlkudbnts rbkbnt gdprlvb-dbnts gn dokrlbklnldgk plcgkgbs onm mbht donoibdbnt proktgkbs”wfgkf tl o corib bxtbnt bxpcogn tfb rbsgcgbnkb la mbvbclpgni onm bdbrignibklnldgbs”onm gmbntgagbs kfoccbnibs ofbom onm orbos tfot rbqugrb spbkgocottbntgln arld plcgky doebrs.

]fb Agnonkgoc Krgsgs onm [lvbrbgin Mbht

]fb agnonkgoc krgsgs, wfgkf gntbnsgagbm gn tfb cost quortbr la 8::6, kodbln tfb fbbcs la tfb allm onm aubc krgsbs onm irbw gntl o iclhoc bklnldgkkrgsgs”tfb Irbot Xbkbssgln. ]fb krgsgs wos –nurturbm— hy iclhoc dokrl-bklnldgk gdhoconkbs, cox dlnbtory plcgkgbs gn tfb mbvbclpbm wlrcm, onossbt prgkb huhhcb osslkgotbm wgtf bxkbss gnvbstdbnt gn rboc bstotb, pllrklrplrotb ilvbrnonkb la tfb agnonkgoc systbd, onm rbiucotlry aogcurbs.

Ot tfb bpgkbntbr la tfb krgsgs wbrb tfb dlst slpfgstgkotbm agnonkgoc sys-

tbds gn tfb wlrcm, gn wfgkf gnvbstlrs fbcm kldpcbx agnonkgoc gnstrudbntsonm rbcgbm ln fgif cbvbcs la cbvbroigni. ]fb krgsgs sprbom aor hbylnm gts lrg-igns, flwbvbr. [gnkb [bptbdhbr 8::6, klntgnulus sflkes fovb hbbn trons-dgttbm tfrluif tromb onm agnonkb kfonnbcs, wgtf ocdlst nl kluntry hbgniunoaabktbm. Bdbrigni onm mbvbclpgni bklnldgbs bxpbrgbnkbm sgingagkont

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8  prgdl hroio onm vgnkbcbttb

kopgtoc lutaclws, os agnonkgoc gnstgtutglns wgtfmrbw cgqugm gnvbstdbnttl sflrb up tfbgr hoconkb sfbbts gn mbvbclpbm bklnldgbs. Iclhoc bxplrtvlcudbs klccopsbm (mbkcgngni hy rluifcy 82 pbrkbnt hbtwbbn Oprgc 8::6

onm @onuory 8::7), onm tfb prgkbs la klddlmgtgbs gn sldb kosbs abcc hy2: pbrkbnt lr dlrb.

Kluntrgbs orlunm tfb wlrcm tlle oiirbssgvb dbosurbs tl ommrbss tfbgdpokt la tfb agnonkgoc krgsgs. ]fb dlst nltohcb plcgky oktglns gnkcumbmtfb bosgni la dlnbtory plcgkgbs, tfb rbkopgtocgzotgln la agnonkgoc sys-tbds, tfb hogclut la tfb flusbflcm onm klrplrotb sbktlrs, tfb lvbrfoucla agnonkgoc rbiucotlry systbds, onm tfb counkfgni la agskoc stgducuspokeoibs. Dlst kbntroc hones sgingagkontcy clwbrbm tfbgr plcgky gntbrbstrotbs, wgtf sbvbroc opprlokfgni tfb zbrl clwbr-hlunm klnstrognt. Dony

kbntroc hones ocsl omlptbm oiirbssgvb hoconkb sfbbt plcgkgbs, gnkcumgnikrbmgt plcgkgbs tfot oaabktbm gntbrhone onm nlnhone krbmgt dorebts onmtfb purkfosb la ilvbrndbnt hlnms onm alrbgin kurrbnky‛mbnldgnotbmsbkurgtgbs.

Gn ommgtgln tl tfbsb dlnbtory oktglns, ilvbrndbnts omlptbm kluntbrkykcg-koc agskoc plcgkgbs. Agskoc mbagkgts gn omvonkbm bklnldgbs, wfgkf stllm ot ohlut?.? pbrkbnt la IMZ gn 8::9, ̀ udpbm tl 6.6 pbrkbnt gn 8::7 onm orb prl`bktbmtl aocc lncy scgiftcy, tl ohlut 6.= pbrkbnt, gn 8:?:. Bdbrigni bklnldgbs,wfgkf wbrb gn agskoc bqugcghrgud gn 8::9, rbigstbrbm mbagkgts la =.7 pbrkbnt laIMZ gn 8::7, wgtf o alrbkost alr 8:?: ot ;.7 pbrkbnt (GDA 8:?:).

]fbsb ilvbrndbnt gntbrvbntglns fovb cbm tl on gnkrbosbm suppcy laslvbrbgin mbht, wgtf gdpcgkotglns alr irlwtf onm mbht sustognohgcgty lut-clles gn hltf doturb onm mbvbclpgni bklnldgbs. Gn gnmustrgoc kluntrgbs,slvbrbgin mbht fos rgsbn sgingagkontcy0 gn 8::6, tfb nbt slvbrbgin hlrrlwgninbbms la tfb Rngtbm Egnimld onm tfb Rngtbm [totbs wbrb agvb tgdbs coribrtfon tfb ovbroib la tfb prbkbmgni agvb ybors (8::8‛:9). Gn omvonkbm bklnl-dgbs os o wflcb, ilvbrndbnt mbht tl IMZ rotgls orb bxpbktbm tl rbokf ??:pbrkbnt hy 8:?2”on gnkrbosb la ocdlst =: pbrkbntoib plgnts lvbr prbkrgsgscbvbcs (GDA 8:?:). Dony dgmmcb-gnkldb kluntrgbs ocsl wgtnbssbm o mbtb-

rglrotgln la tfbgr mbht plsgtglns, octfluif tfb trbnms orb nlt os mrodotgkos tflsb la omvonkbm bklnldgbs. Gn clw-gnkldb kluntrgbs, gn 8::7‛?: tfbprbsbnt vocub la tfb puhcgk mbht tl IMZ rotgl fos mbtbrglrotbm hy 2‛9 pbr-kbntoib plgnts kldporbm wgtf prbkrgsgs prl`bktglns (GMO onm GDA 8:?:).Alrty pbrkbnt la clw-gnkldb kluntrgbs bgtfbr orb ocrbomy gn mbht mgstrbsslr aokb o fgif rgse la aoccgni gntl mbht mgstrbss.

Gn sud, tfb bklnldgk hlld alstbrbm hy tfb irlwgni gnmbhtbmnbss latfb prgvotb sbktlr kodb tl o foct wfbn tfb ossbt huhhcb hurst. Ilvbrn-dbnts stbppbm gn tl ovlgm tfb klccopsb la tfb agnonkgoc sbktlr, alrbstocc

krbmgt klntroktgln, onm sustogn oiirbiotb mbdonm. ]fgs gs nlt tfb agrst tgdbagnonkgoc kykcbs fovb cbm tl ossbt huhhcbs wgtf gntbrnotglnoc gdpcgkotglns,hut nlt sgnkb tfb Irbot Mbprbssgln fos tfb rbkbssgln hbbn sl sbvbrb. Gt gstrub tfot dlst mbvbclpgni bklnldgbs fovb sflwn rbdoreohcb rbsgcgbnkbgn –novgiotgni— tfbsb bxtbrnoc sflkes. ]fbrb gs nl mbnygni, flwbvbr,

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gntrlmuktgln ;

tfot tfbsb sflkes wgcc gnkrbosb tfb kfoccbnibs tfby aokb gn agnonkgni tfbgrmbvbclpdbnt nbbms.

]fb doingtumb la puhcgk cgohgcgtgbs gnkurrbm onm tfb unkbrtognty sur-

rlunmgni tfb bxgt arld unprbkbmbntbm mgskrbtglnory agskoc stgducus prl-irods fovb hbkldb slurkbs la klnkbrn ohlut o auturb krgsgs. Dlvgnialrworm, ilvbrndbnts wgcc fovb tl rbiogn tfb klnagmbnkb la dorebts wfgcbgntrlmukgni rbiucotlry rbalrds tfot kcodp mlwn ln bxkbssgvb rgse toegni.Hoconkgni tfbsb ilocs gs o mgaagkuct tose tfot gs kldpcgkotbm hy tfb aokt tfotkurrbnt agskoc gdhoconkbs put plcgky doebrs gn o klrnbr0 tfby orb modnbm gatfby gntrlmukb agskoc oustbrgty prlirods (wfgkf sclw tfb noskbnt rbklvbry)onm modnbm ga tfby aogc tl ommrbss tfb irlwgni mbht hurmbn, wfgkf doyrbmukb dorebt klnagmbnkb onm rogsb tfb abor la o –mbht trop,— wgtf dbmgud-

tbrd irlwtf gdpcgkotglns. ]fb rbkbnt strbss gn mbht dorebts gn sldb BurlOrbo kluntrgbs gs o tbstodbnt tl tfb cgnibrgni klnkbrn tfot mbspgtb dossgvbilvbrndbnt baalrts, tfb bklnldgk krgsgs gs stgcc unalcmgni onm slvbrbgin mbhtdorebts nbbm kclsb dlngtlrgni.

]fgs hlle bxodgnbs tfb gdpcgkotglns la tfb agnonkgoc krgsgs alr slvbrbginmbht gn bdbrigni onm mbvbclpgni bklnldgbs. Gt gs strukturbm orlunm alurdogn tfbdbs0

• Rnmbrstonmgni tfb alrkbs oaabktgni slvbrbgin mbaoucts, tfb vocuotglnla slvbrbgin mbht, onm tfb bklnldgk klst la corib puhcgk mbhts

• Ossbssgni tfb gdpokt la tfb rbkbnt iclhoc bklnldgk krgsgs ln mbht gnmgaabrbnt irlups la kluntrgbs

• Mrowgni cbsslns arld onm bxpclrgni nbw gmbos alr mbht rbstrukturgni• Zrbsbntgni rbcbvont puhcgk mbht donoibdbnt bxpbrgbnkbs gn tfb kln-

tbxt la agnonkgoc krgsbs.

Zort G0 O Nbw Yovb la [lvbrbgin Mbht Krgsbs<

[gnkb [bptbdhbr 8::6, iclhoc agnonkgoc klnmgtglns fovb hbbn vlcotgcb onmrgses osslkgotbm wgtf rgsgni slvbrbgin mbht hurmbns onm slvbrbgin mbhtmlwnirombs fovb gnkrbosbm. Mbspgtb gts unprbkbmbntbm klnsbqubnkbs alrilvbrndbnt agnonkbs, flwbvbr, tfb lnilgni iclhoc agnonkgoc krgsgs fosnlt ybt trgiibrbm o wovb la slvbrbgin mbaoucts. Gs tfgs tgdb mgaabrbnt< Orbplcgky doebrs gn o hbttbr plsgtgln tl rbklingzb bx ontb sgins la mbht mgs-trbss< Dlrb hrlomcy, wfot orb tfb gdpcgkotglns la gnkrbosgni mbht cbvbcs lnbklnldgk irlwtf<

Gn kfoptbr ?, Mongbc Klfbn onm Kçkgcb Qocomgbr bxpclrb tfb mbtbrdg-

nonts la mbht mgstrbss gn lrmbr tl unmbrstonm wfot doebs tfb lnilgnikrgsgs mgaabrbnt arld prbvglus mbht krgsbs. Rsgni on upmotbm motohosb la?81 kluntrgbs alr tfb pbrglm ?79:‛8::9, tfby klnagrd tfb rbsucts la ltfbrstumgbs tfot agnm tfot mgaabrbnkbs gn tfb prlhohgcgty la slvbrbgin mbht mgstrbssorb bxpcognbm coribcy hy mbht hurmbns onm gnstgtutglnoc quocgty gnmgkotlrs.

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=  prgdl hroio onm vgnkbcbttb

Zut mgaabrbntcy, kluntrgbs wgtf clw bxtbrnoc mbht cbvbcs orb hbttbr ohcb tlklpb wgtf mbtbrglrotgni klnmgtglns gn gntbrnotglnoc agnonkgoc dorebts. ]fboutflrs lhsbrvb tfot dony mbvbclpgni kluntrgbs wgtf rbklrms la mbaouct mgm

nlt mbaouct murgni tfb rbkbnt krgsgs hbkousb tfbgr mbht hurmbns wbrb dukfdlrb donoibohcb tfgs tgdb orlunm. Kosbs la mgstrbss lkkurrbm coribcy gnfbovgcy bxplsbm Burlpbon kluntrgbs, kluntrgbs gnvlcvbm gn wor lr gntbrnocklnacgkts, onm kluntrgbs wgtf aroigcb gnstgtutglns.

Cuko Honmgbro, @bsðs Krbspl Kuorbsdo, onm Ioccgno O. Qgnkbcbttb rbokfsgdgcor klnkcusglns rbiormgni tfb cbvbc la gnmbhtbmnbss os on gdplrtontprbmgktlr la mbaoucts gn kfoptbr 8. Hbkousb bdbrigni dorebt bklnldgbsfovb fgstlrgkoccy hbbn dlrb vucnbrohcb tl mbht krgsbs tfon fgifbr-gnkldbkluntrgbs, tfb outflrs alkus ln o sodpcb la =1 bdbrigni dorebt bklnl-

dgbs sponngni 82 ybors. ]fby agnm tfot kluntrgbs wgtf mgaabrbnt cbvbcs lagnmbhtbmnbss ocsl fovb mgaabrbnt kforoktbrgstgks0 ln ovbroib, kluntrgbs wgtfbxtbrnoc mbht hbclw 2: pbrkbnt la irlss notglnoc gnkldb (ING) irlw tfbgrbklnldgbs aostbr onm fovb clwbr gnacotgln tfon kluntrgbs wgtf fgifbr cbvbcsla bxtbrnoc mbht5 tfby ocsl okfgbvb prgdory agskoc surpcusbs. ]fbsb klun-trgbs orb ocsl typgkoccy cbss lpbn (onm tfbrbalrb cbss bxplsbm tl sflke arldbxtbrnoc mbdonm), run clwbr kurrbnt okklunt mbagkgts, onm fovb fgifbrcbvbcs la rbsbrvbs tfon dlrb gnmbhtbm bdbrigni dorebt kluntrgbs.

Alr tfb bntgrb sodpcb, tfb outflrs agnm tfot tfb prlhohgcgty la mbaouctgs rlhustcy osslkgotbm lncy wgtf tfb cbvbc la gnmbhtbmnbss. ]fb quocgty laplcgkgbs onm gnstgtutglns orb ocsl illm prbmgktlrs la mbaouct bpgslmbs gnbdbrigni dorebt kluntrgbs wgtf cbvbcs la bxtbrnoc mbht hbclw 2: pbrkbntla ING. Alr bdbrigni dorebts wgtf mbht tfot bxkbbms 2: pbrkbnt la ING,dokrlbklnldgk stohgcgty pcoys o sgingagkont rlcb gn bxpcogngni mgaabrbnkbsgn mbaouct prlhohgcgtgbs.

]fb agrst twl kfoptbrs la tfgs hlle rbvgsgt post slvbrbgin mbht krgsbs tlunmbrstonm flw tl hbttbr rbklingzb tfb sgins la trluhcb bx ontb. Kfoptbr ;,hy Dbfdbt Konbr, ]fldos Irbnnbs, onm Argtzg Elbfcbr-Ibgh, lhsbrvbs tfbmynodgks la surigni puhcgk mbht tl ossbss tfb baabkt la puhcgk cgohgcgtgbs ln

bklnldgk irlwtf. Mlbs o tgppgni plgnt gn puhcgk mbht bxgst hbylnm wfgkfo kluntry‗s bklnldgk irlwtf suaabrs< Yfot gs tfb quontgtotgvb gdpokt lapuhcgk mbht ln bklnldgk irlwtf ga mbht stoys ohlvb tfb tfrbsflcm alr onbxtbnmbm pbrglm la tgdb<

]fb outflrs bstgdotb puhcgk mbht tl IMZ tfrbsflcms hosbm ln on onnuocmoto sbt la 77 mbvbclpgni onm mbvbclpbm bklnldgbs alr ?76:‛8::6.]fby agnm tfot ga tfb ovbroib puhcgk mbht tl IMZ rotgl rbdogns ohlvb99 pbrkbnt gn tfb clni run, bokf ommgtglnoc pbrkbntoib plgnt gnkrbosb gntfb rotgl klsts :.:?9 pbrkbntoib plgnt la onnuoc rboc irlwtf. ]fb baabkt

gs bvbn dlrb prlalunm gn bdbrigni dorebts, wfbrb tfb mbht tl IMZtfrbsflcm gs 1= pbrkbnt. Gn tfbsb kluntrgbs, tfb clss gn onnuoc rboc irlwtfwgtf bokf ommgtglnoc pbrkbntoib plgnt gn puhcgk mbht odlunts tl :.:8pbrkbntoib plgnt. Octfluif tbdplrory mbvgotglns arld tfb tfrbsflcm gntfb klntbxt la sflrt-tbrd agskoc stohgcgzotgln plcgkgbs doy hb opprlprgotb,

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gntrlmuktgln 2

surpossgni tfbsb tfrbsflcms alr bxtbnmbm pbrglms klucm sclw bklnldgkirlwtf alr ybors.

Hbkousb corib gnkrbosbs gn tfb cbvbc onm aunmgni klsts la ilvbrndbnt

mbht kon kousb rboc bklnldgk clssbs, gt gs gdplrtont tl stumy tfb aoktlrstfot doy oaabkt tfb vocuotglns la slvbrbgin mbht. Murgni tfb kurrbnt iclhocagnonkgoc krgsgs, ilvbrndbnts prlvgmbm dossgvb supplrt tl tfb mldbstgkagnonkgoc systbds onm counkfbm corib agskoc stgducus pokeoibs. Ilvbrn-dbnts‗ hoconkb sfbbt rgses gnkrbosbm gn tfb alrd la wgmbr slvbrbgin hlnmsprbom gn hltf omvonkbm onm bdbrigni dorebt kluntrgbs. Gnmbbm, slvbrbginygbcms bxfghgtbm on unprbkbmbntbm mbirbb la vlcotgcgty gn 8:?:, portgkucorcyodlni fgifbr-mbht, clwbr-rotbm slvbrbgins (sbb, alr bxodpcb, Kokbrbs,Iuzzl, onm [bilvgonl 8:?:).

Kfoptbr =, hy Mgdgtrg Hbccos, Dgkfobc I. Zopoglonnlu, onm Gvo Zbtrlvo,unvbgcs tfb mrgvbrs hbfgnm slvbrbgin hlnm sprboms. Rsgni quortbrcy motosponngni tfb post mbkomb, tfb outflrs mbdlnstrotb on gdplrtont mgkflt-ldy. Gn tfb clni run, dokrlbklnldgk aunmodbntocs, sukf os mbht onmmbht-rbcotbm vorgohcbs, tromb lpbnnbss, onm o sbt la rgse-arbb rotbs, prg-dorgcy mbtbrdgnb slvbrbgin hlnm sprboms. Gn tfb sflrt run, flwbvbr, gt gstfb mbirbb la agnonkgoc stohgcgty gn o kluntry tfot pcoys tfb eby rlcb gn tfbvocuotgln la slvbrbgin mbht.

Gn kfoptbr 2, Donsllr Mogcodg onocyzbs tfb kfonnbcs tfrluif wfgkfslvbrbgin mbaouct rgses oaabkt tfb mbtbrdgnotgln la klrplrotb hlnm ygbcmsprboms gn bdbrigni dorebts. Fb oriubs tfot rgsgni slvbrbgin rgses rbprbsbnto do`lr slurkb la plcgky klnkbrn onm dorebt onxgbty hbkousb la tfb fgmmbnmynodgks hbtwbbn slvbrbgin onm klrplrotb mbht, wfgkf klucm krbotb onbiotgvb abbmhoke cllp lnkb gnvbstlrs clsb klnagmbnkb gn tfb ilvbrndbnt‗sohgcgty tl usb puhcgk agnonkbs tl stohgcgzb tfb bklnldy lr prlvgmb o soabtynbt tl klrplrotglns gn mgstrbss. Rsgni o motohosb klvbrgni klrplrotb onmslvbrbgin hlnm gssubs ln iclhoc dorebts hbtwbbn ?772 onm 8::7, Mogcodgagnms tfot gnvbstlrs‗ pbrkbptglns la slvbrbgin mbht prlhcbds gn bdbrignidorebts tronscotb gntl fgifbr klsts la kopgtoc alr prgvotb klrplrotb gssu-

brs. O eby plcgky rbklddbnmotgln arld tfgs onocysgs gs tfot dbosurbs orbnbbmbm tl gdprlvb krbmgtwlrtfgnbss ot tfb slvbrbgin cbvbc hbalrb gnvbstlrabors spgcc lvbr tl onm omvbrsbcy oaabkt prgvotb agrds‗ klst la onm okkbss tlalrbgin kopgtoc.

Zort GG0 Flw Fos tfb Krgsgs Oaabktbm Mbht<

]fb iclhoc agnonkgoc krgsgs fos mbprbssbm bklnldgk oktgvgty onm rbmukbm

klnagmbnkb gn tfb prlspbkts alr irlwtf ocdlst bvbrywfbrb gn tfb wlrcm.Yfot orb tfb gdpcgkotglns la tfb krgsgs alr slvbrbgin mbht onm tfb lvbr-occ agnonkgoc plsgtglns la mbvbclpgni onm bdbrigni dorebt kluntrgbs<Flw wbcc plsgtglnbm, wgtf rbspbkt tl bklnldgk onm gnstgtutglnoc aun-modbntocs, orb tfbsb kluntrgbs tl wbotfbr tfb baabkts la tfb krgsgs< Ygcc

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1  prgdl hroio onm vgnkbcbttb

pllr gnmbhtbm kluntrgbs rbqugrb nbw rlunms la mbht rbcgba hbkousb la tfbagnonkgoc krgsgs<

Kfoptbr 1, hy Cblnorml Fbrnïnmbz onm Hlrgs Iodorro, ommrbssbs tfb

cost qubstgln alr o irlup la ;? GMO-lncy Oargkon kluntrgbs, sbvbroc lawfgkf orb gn aroigcb mbht sgtuotglns. Rsgni tfb mbht sustognohgcgty onocysbsunmbrtoebn alr tfbsb kluntrgbs hy tfb Ylrcm Hone onm tfb GntbrnotglnocDlnbtory Aunm (GDA) os la bnm-[bptbdhbr 8::7, tfb outflrs stumy tfbpltbntgoc omvbrsb baabkts la tfb lnilgni agnonkgoc krgsgs ln kluntrgbs‗ mbhthurmbn gnmgkotlrs os o aunktgln la tfb mbptf onm cbnitf la tfb krgsgs (dbo-surbm hy tfb gdpokt la tfb krgsgs ln bxplrts rbvbnubs) onm tfb tbrds otwfgkf o kluntry kon lhtogn agnonkgni tl dummcb tfrluif tfb krgsgs. ]fbonocysgs unmbrsklrbs tfb gdplrtonkb la klnkbssglnoc agnonkgni alr tfbsb

kluntrgbs, bspbkgoccy ga tfb krgsgs prlvbs tl hb o prltroktbm lnb.Dony dgmmcb-gnkldb kluntrgbs orb aokgni fgif agnonkgni rbqugrbdbnts,

doegni tfbd portgkucorcy suskbptghcb tl dorebt sbntgdbnt. Gn kfoptbr 9,Xocpf Qon Mllrn, Qgvbe [urg, onm [umorsfon Illptu bxodgnb wfbtfbrdgmmcb-gnkldb kluntrgbs kon rbstlrb tfbgr prb-8::6 dokrlbklnldgk spokblr klntogn aurtfbr mbtbrglrotgln gn tfb dbmgud tbrd. ]frluif gccustrotgvbskbnorgls, tfby sflw tfot sldb kluntrgbs fovb cgdgtbm rlld tl donbuvbruncbss tfby bdhore ln sgzohcb agskoc om`ustdbnts onm doy nbbm dlrb tgdbtl ml sl tfon kurrbnt prl`bktglns sbbd tl suiibst.

[docc vucnbrohcb bklnldgbs orb odlni tfb dlst gnmbhtbm kluntrgbsgn tfb wlrcm. Gn kfoptbr 6, Bmiorml Aovorl, Mñrtb Mñdbconm, YgccgodL‗Hlycb, onm ]gfldgr [tuk̄eo gnvbstgiotb tfb baabkt la tfb krgsgs ln =1 sdoccstotbs wgtf vorglus gnkldb cbvbcs. ]fby agnm tfot tfb gdpokt la tfb krgsgswos dlrb sbvbrb odlni sdocc stotbs wgtf fgifbr bxtbrnoc bxplsurb onmodlni bxplrtbrs la noturoc rbslurkb‛hosbm prlmukts tfon gn sdocc stotbswgtf clwbr cbvbcs la gntbrnotglnoc gntbirotgln. ]fb kfoptbr klnkcumbs tfotgdprumbnt agskoc donoibdbnt fos cbm tl fgif cbvbcs la puhcgk mbht gn donysdocc stotbs, wgpgni lut tfb mbkcgnb gn mbht tl IMZ rotgls okfgbvbm gn tfbborcy 8:::s onm cbovgni tfbd wgtf mbht rotgls tfot wgcc omvbrsbcy oaabkt

tfbgr kopokgty tl prlvgmb hosgk puhcgk illms onm tl bnkluroib nbw gnvbst-dbnt onm bklnldgk irlwtf. Donoigni tfb fgifbr cbvbcs la puhcgk mbht gnon unkbrtogn bklnldgk bnvgrlndbnt wgcc hb o sgingagkont kfoccbnib alr tfbsbsdocc stotbs ilgni alrworm.

Lutput klccopsb onm rbcotbm rbvbnub clssbs fovb hbbn tfb eby aoktlrsmrgvgni mbht suribs gn mbvbclpbm kluntrgbs (GDA 8:?:h). Kfoptbr 7, hyBmiorml Aovorl, Wgni Cg, @uon Zrombccg, onm Xocpf Qon Mllrn, onocyzbstfgs gssub gn tfb klntbxt la tfb rbkbnt agnonkgoc mgaagkuctgbs gn Burlpb. ]fboutflrs oriub tfot kluntrgbs kon hb kcustbrbm gntl twl irlups okklrm-

gni tl tfb dogn mbtbrdgnonts la tfb kurrbnt okklunt mbagkgts wgtfgntfb orbo. Gn sldb kluntrgbs, fgif puhcgk sbktlr mbagkgts orb mrgvgni tfbkurrbnt okklunt mgsbqugcghrgud5 gn ltfbrs, tfb prgvotb sbktlr onm tfbfgif onm pbrsgstbnt sovgnis-gnvbstdbnt iop bxpcogn tfb mgsbqugcghrgud.]fb plcgky kfoccbnib ofbom gs tl rbmukb tfbsb gdhoconkbs hy ibnbrotgni

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gntrlmuktgln 9 

kurrbnt okklunt surpcusbs gn mbagkgt kluntrgbs sl tfot tfby kon rbpoytfbgr mbhts. ]fb mgaagkucty gs tfot gn tfb kurrbnt agnonkgoc bnvgrlndbnt,on bxtbrnoc surpcus kon hb okfgbvbm lncy tfrluif bxpbnmgturb-rbmukgni

dbosurbs, wfgkf fovb o pllr rbklrm la sukkbss ot rbvbrsgni sgingagkontrboc bxkfonib rotb dgsocgindbnts onm orb cgebcy tl rbmukb lutput gn tfbsflrt run.

Zort GGG0 Orb Nbw Dbkfongsds alr MbhtXbstrukturgni Nbbmbm<

Oiognst tfb hokeirlunm la gnkrbosgni strbssbs gn mbht dorebts, rbvgsgtgni

tfb lptglns alr slvbrbgin mbht rbstrukturgni fos ottroktbm rbnbwbm ottbn-tgln. ]fb kfoptbrs gn port GGG bxodgnb tfb cbioc onm bklnldgk prgnkgpcbsunmbrcygni tfb mbht-rbstrukturgni prlkbss wgtf tfb ogd la rbmukgni tfbrgse onm klst la slvbrbgin mbaoucts. Igvbn tfot tfbrb gs nl strukturbmwoy alr donoigni slvbrbgin mbaoucts onm baabktgvbcy bnalrkgni slvbrbginmbht klntrokts, wfot orb tfb plcgky lptglns alr mbocgni wgtf mbaouctshy slvbrbgins< Kon bxpcgkgt klntgnibnt klntrokts hbtwbbn gnvbstlrs onmslvbrbgins hb mbsginbm tfot prlvgmb gnkbntgvbs alr hlrrlwbrs tl rbdognslcvbnt< Yfot cbsslns kon hb cbornbm arld prbvglus bpgslmbs la slvbrbginmbaoucts< Kon gnstgtutglns hb bstohcgsfbm tfot gdprlvb gnalrdotgln onmalstbr klddgtdbnt<

[lvbrbgin mbhts orb klstcy onm mgaagkuct tl rbstrukturb. ]fb prlkbss gslatbn mbcoybm hy krbmgtlr flcmluts, rbausoc tl rbvboc prgvotb gnalrdotgln,tfb gnohgcgty la kluntrgbs tl klddgt tl o rbstrukturgni oirbbdbnt, onmplcgtgkoc bklnldy prlhcbds gn tfb mbaouctgni kluntry. ]fbsb aoktlrs oaabkttfb baagkgbnky la rbstrukturgni bx plst5 tfby ocsl oaabkt hlrrlwgni strotbigbsonm mbaouct gnkbntgvbs bx ontb.

Kfoptbr ?:, hy Wubabn Cg, Xlmrgil Lcgvorbs-Kodgnoc, onm Ril Zongzzo,mgskussbs flw tfb rbkbnt agnonkgoc onm bklnldgk krgsgs fos oaabktbm tfb

bvlcutgln la gnstrudbnts onm lptglns alr rbstrukturgni mbht. ]fb outflrsbxodgnb o sodpcb la 21 mbvbclpgni onm bdbrigni bklnldgbs, kldpcb-dbntbm hy o mbtogcbm stumy la alur rbkbnt mbaouct bpgslmbs. ]fby agnm tfottfrbb aoktlrs orb gdplrtont alr unmbrstonmgni mbaoucts0 tfb prbsbnkb lacorib bxtbrnoc mbht sflkes, tfb proktgkb la lvbrhlrrlwgni hy tfb prgvotbonm puhcgk sbktlrs, onm tfb bxgstbnkb la klntbntglus mbht klntrokts.

]fb outflrs mgskuss plcgky lptglns ot tfb notglnoc onm gntbrnotglnoccbvbcs alr dgtgiotgni tfb prlhohgcgty la auturb mbht krgsbs. ]fby bnkluroibilvbrndbnts tl ovlgm lvbrhlrrlwgni onm tl dlvb tl klntgnibnt mbht

klntrokts. ]fby oriub tfot gn tfb ohsbnkb la dbkfongsds alr rbslcvgnislvbrbgin mbaoucts, lrmbrcy wlrelut prlkbmurbs sflucm hb mbvbclpbm tlmboc wgtf slvbrbgin mbaoucts. ]fby bxprbss supplrt alr tfb mbvbclpdbnt lao sbt la ungvbrsoccy oirbbm upln prgnkgpcbs alr rbsplnsghcb slvbrbgin cbnm-gni onm hlrrlwgni.

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6  prgdl hroio onm vgnkbcbttb

Kfoptbr ??, hy Cgcg Cgu onm Dgkfobc Yoghbc, unvbgcs tfb kfoccbnibs laropgmcy gnkrbosgni suhnotglnoc mbht alr slvbrbgins onm mgskussbs tfb cbioconm gnstgtutglnoc prgnkgpcbs unmbrpgnngni mbht rbstrukturgni ot tfb suhno-

tglnoc cbvbc. Xbiucotlry arodbwlres okrlss kluntrgbs alr suhnotglnoc gnslc-vbnky sforb kbntroc aboturbs. Agskoc rucbs, lr bx ontb rbiucotgln, klntogn tfbrgse la suhnotglnoc mbaoucts5 bx plst rbiucotgln typgkoccy occlkotbs mbaouctrgse wfgcb prlvgmgni hrbotfgni spokb alr lrmbrcy mbht rbstrukturgni onmagskoc om`ustdbnt. ]fb outflrs koutgln oiognst unrbiucotbm suhnotglnochlrrlwgni onm bnkluroib kluntrgbs tl mbvbclp rbiucotlry arodbwlres alrdorebt-hosbm suhnotglnoc agnonkgni systbds.

Kfoptbr ?8, hy Dore C. @. Yrgift, bxodgnbs tfb rbstrukturgni dbkfo-ngsds alr slvbrbgin mbht tl prgvotb krbmgtlrs. Fb prbsbnts nbw bdpgrgkoc

rbsucts ln tfb mgaabrbnkbs gn prgvotb slvbrbgin mbht-rbstrukturgni lutkldbsokrlss mbhtlr kluntrgbs gn mgaabrbnt rbiglns onm ot mgaabrbnt cbvbcs la mbvbc-lpdbnt. Rsgni moto ln 7: mbaoucts onm 9; rbnbiltgotglns hbtwbbn ?767onm 8::=, fb agnms tfot hltf tfb tgdb toebn tl kldpcbtb o prgvotb mbhtrbstrukturgni onm tfb sgzb la krbmgtlr clssbs orb irbotbr alr clw-gnkldbkluntrgbs, gn portgkucor gn [uh-[oforon Oargko, tfon gn dgmmcb-gnkldbkluntrgbs. Mbspgtb prgvotb krbmgtlr –fogrkuts— ovbroigni ohlut ;6 pbrkbnt,pllr kluntrgbs tbnm tl bxgt mbaoucts dlrb gnmbhtbm tl prgvotb krbmgtlrstfon wfbn tfby bntbrbm.

]fb kfoptbr rbvgbws rbkbnt tfblrbtgkoc rbsborkf ln tfb prlkbss la slvbr-bgin mbht rbstrukturgni tl prgvotb krbmgtlrs onm ossbssbs tfb plcgky lptglnsovogcohcb tl hltf mbhtlr onm krbmgtlr ilvbrndbnts. Gt oriubs tfot octfluifrbkbnt tfblry kon bxpcogn tfb doingtumb la mbcoys lhsbrvbm gn tfb moto, gtfos cbss tl soy ohlut wfgkf ospbkts la tfb mbht-rbstrukturgni prlkbss cbomtl corib gnkrbosbs gn gnmbhtbmnbss tl prgvotb krbmgtlrs gn clw-gnkldb klun-trgbs. ]fb outflr rbklingzbs tfb omvontoibs la supronotglnoc dbkfongsdssukf os tfb Mbht Xbmuktgln Aokgcgty (MXA) alr GMO-lncy kluntrgbs tl mbocwgtf klccbktgvb oktgln prlhcbds.8 

Bvbry gntbrnotglnoc agnonkgoc krgsgs bxplsbs tfb coke la bstohcgsfbm

dbkfongsds alr aost onm baagkgbnt rbslcutgln la slvbrbgin mgsputbs.Qorglus prlplsocs fovb hbbn alrducotbm tl lvbrkldb tfgs sflrtkld-gni. Klddln bcbdbnts odlni tfbsb prlplsocs gnkcumb o aogr alrud alrnbiltgotgln, o stonmstgcc kcousb, onm kcousbs tfot cgdgt tfb ohgcgty la mgs-iruntcbm dgnlrgty hlnmflcmbrs tl agcb cowsugts oiognst krbmgtlr notglns.Kfoptbrs ?; onm ?= mgskuss octbrnotgvbs tl tfb stotus qul gn mbocgni wgtfslvbrbgin mbaoucts.

Gn kfoptbr ?;, Kfrgstlpf I. Zoucus oriubs alr o proidotgk opprlokftl prbmgktohcb onm rbcgohcb prlkbmurbs alr mbht rbstrukturgni. Fb suiibsts

bstohcgsfgni o slvbrbgin mbht trghunoc wgtfgn o fgifcy rbspbktbm gntbrno-tglnoc gnstgtutgln tfot gs nlt o krbmgtlr lr pltbntgoc krbmgtlr tl slvbrbgins.Rnmbr fgs prlplsoc, tfb onnlunkbdbnt la o mbaouct hy o slvbrbgin wlucmhb bnluif tl trgiibr orhgtrotgln. ]fb trghunoc klucm gngtgotb onm mbkgmbkosbs lncy upln prglr klntroktuoc oirbbdbnt tl orhgtrotgln5 portgbs nlt

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gntrlmuktgln 7

okkbptgni oirbbdbnt la sukf orhgtrotgln kcousb wlucm nlt hb suh`bkt tl tfbtrghunoc‗s `urgsmgktgln.

Kfoptbr ?=, hy Bmuorml Abrnïnmbz-Orgos, bxpclrbs octbrnotgvbs alr

slcvgni slvbrbgin mbht rbpoydbnt mgaagkuctgbs, togclrbm tl kluntry-spbkgagkkgrkudstonkbs. ]fb outflr bnmlrsbs rbkbnt baalrts hy gntbrnotglnoc agnon-kgoc gnstgtutglns sukf os tfb Acbxghcb Krbmgt Cgnb laabrbm hy tfb GDA onmorronibdbnts alr agnonkgni lptglns tfrluif [tonm-hy Orronibdbnts lrBxtbnmbm Aokgcgtgbs. Hut fb oriubs tfot tfb ohsbnkb la on gntbrnotglnochoneruptky systbd doy mbcoy tfb kocc alr nbbmbm mbht rbskfbmucgnionm kurtogc hrgmib agnonkgni gn kosbs wfbrb rbskfbmucgni gs ocrbomy toe-gni pcokb. ]fb outflr prldltbs tfb bstohcgsfdbnt la o kldprbfbnsgvbgntbrnotglnoc cbnmbr-la-cost-rbslrt arodbwlre tl ommrbss hltf cgqugmgty

onm slcvbnky prlhcbds. ]fb nlvbcty la fgs prlplsoc cgbs gn hrgnigni mbhtrbstrukturgni gntl sukf on gntbirotbm gntbrnotglnoc systbd.

Hltf la tfb prlplsocs prbsbntbm gn kfoptbrs ?; onm ?= laabr nbw bcb-dbnts alr gnstgtutglnoc strukturbs ot tfb supronotglnoc cbvbc tl mboc wgtfslvbrbgin rbpoydbnt mgaagkuctgbs. Hltf rbqugrb kllrmgnotbm plcgtgkoc oktglnot tfb gntbrnotglnoc cbvbc. Os gccustrotbm hy tfb mbhotb gn 8::?‛:; lvbrtfb [lvbrbgin Mbht-Xbstrukturgni Dbkfongsd ([MXD) mbvbclpbm hy GDAstoaa, gdpcbdbntotgln la o stotutlry opprlokf tl mbht rbstrukturgni gs nltbosy (sbb Xgbaabc 8::; onm Erubibr 8::8). Yfbtfbr slvbrbgins wlucm hbwgccgni tl rblpbn tfgs mbhotb gn vgbw la tfb agnonkgoc krgsgs rbdogns unkcbor.Ot tfb notglnoc cbvbc, flwbvbr, slvbrbgin mbhtlrs kon gdprlvb tfb stohgcgtyla tfbgr agnonkgoc systbds hy (odlni ltfbr tfgnis) strbnitfbngni tfbgr mbhtdonoibdbnt gnstgtutglns.

Zort GQ0 Donoigni Zuhcgk Mbht gn Krgsbs

Igvbn tfb ropgm hugcmup la ilvbrndbnt cgohgcgtgbs orlunm tfb wlrcm onmtfb strlni gntbrcgneoibs hbtwbbn slvbrbgin rgse onm gntbrnotglnoc kopg-

toc dorebts, klnkbrns ohlut tfb plssghgcgty la o nbw wovb la slvbrbginmbht krgsbs fovb rbbdbribm. Octfluif unbxpbktbm sflkes orb, hy mbagng-tgln, hbylnm tfb klntrlc la ony gnmgvgmuoc kluntry, plcgky doebrs gn hltfmbvbclpgni onm omvonkbm bklnldgbs kon hbnbagt arld prumbnt puhcgk mbhtdonoibdbnt gn sfopgni tfbgr hlrrlwgni strotbigbs wgtf o vgbw tl kusfgln-gni tfb baabkts la bxtbrnoc sflkes. Flw fovb kluntrgbs rbsplnmbm tl tfgskfoccbnib sl aor< Yfot plcgky lptglns fovb mgaabrbnt kluntrgbs kflsbn alrmbocgni wgtf bcbvotbm mbht hurmbns<

Kfoptbr ?2, hy Rmoghgr [. Mos, Dgkfobc Zopoglonnlu, Iugcfbrdb

Zbmros, @oy [urtg, onm Aogsoc Ofdbm, bxpclrbs bxpcgkgtcy tfb rbcotglnsfgphbtwbbn agnonkgoc stohgcgty onm tfb donoibdbnt la puhcgk mbht. ]fb cgne-oib hbtwbbn ilvbrndbnt agnonkbs onm agnonkgoc stohgcgty gs syddbtrgktfrluif tfb kykcb. Gn on upswgni, tfb quocgty la agnonkgoc gnstgtutglns‗bxplsurb tl tfb ilvbrndbnt gs fgif, os gt korrgbs clw mbaouct, bxtbnsgln,

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?:  prgdl hroio onm vgnkbcbttb

onm cgqugmgty rgse. Murgni o mlwnswgni, dogntbnonkb la tfb ossbt quocgtyla tfb ilvbrndbnt‗s cgohgcgtgbs hbkldbs krgtgkoc gn klntogngni omvbrsb mbvbc-lpdbnts gn tfb rboc onm agnonkgoc sbktlrs. ]fb outflrs suiibst tfot mbht

donoibrs onm plcgky doebrs onocyzb tfb gdpcgkotglns la mbht donoibdbntstrotbigbs ln tfb hoconkb sfbbt la tfbgr ilvbrndbnt, tfb bklnldy, onm tfbagnonkgoc systbd.

[lunm mbht donoibdbnt proktgkbs kon supplrt baabktgvb kluntbrkykcg-koc plcgky. Bcbdbnts la sukf proktgkbs gnkcumb dogntogngni donoibohcbpuhcgk mbht stlke, toribtgni rotglnoc dlvbdbnts gn ossbt prgkbs murgnihllds, krbotgni o cgohgcgty strukturb alr puhcgk mbht tfot sustogns clwcbvbcs la rbagnonkgni rgse alr tfb slvbrbgin tfrluif tfb kykcb, onm sbkurgnitfb slvbrbgin‗s ohgcgty tl gssub tfb nbkbssory vlcudb la mbht ot o rbosln-

ohcb klst gn o mlwnswgni. Kluntrgbs tfot alcclw sukf prgnkgpcbs gn mbhtdonoibdbnt orb hbttbr plsgtglnbm tl kusfgln sflkes onm tl gdpcbdbntkluntbrkykcgkoc agskoc plcgky.

Gnmbbm, os kfoptbr ?1, hy Zfgccgp X. M. Onmbrsln, Onmbrsln Koputl[gcvo, onm Ontlngl Qbconmgo-Xuhgonl, mgskussbs, gdprlvbm dokrlbkl-nldgk onm puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs lvbrtfb post mbkomb bxpcogn wfy, mbspgtb gts skocb, tfb iclhoc agnonkgoc krgsgsfos nlt ybt rbsuctbm gn o slvbrbgin mbht krgsgs alr tfbsb kluntrgbs. ]fboutflrs rbvgbw tfb gdprlvbdbnts gn dokrlbklnldgk aunmodbntocs onmtfb kldplsgtgln la puhcgk mbht plrtalcgls gn bdbrigni dorebt bklnldgbshbalrb tfb krgsgs onm klnkcumb tfot tfb plcgkgbs onm strotbigbs pursubm hyilvbrndbnts prlvgmbm tfbd wgtf o huaabr wfbn tfb krgsgs fgt. Nbvbrtfb-cbss, wgtf tfb gntbrnotglnoc kopgtoc dorebts baabktgvbcy kclsbm alr dlrbtfon tfrbb dlntfs onm mldbstgk hlrrlwgni gn dony kosbs oaabktbm hybxtrbdb rgse ovbrsgln, ilvbrndbnt mbht donoibrs wbrb rbqugrbm tl omopttfbgr strotbigbs tl tfbsb ropgmcy kfonigni kgrkudstonkbs. ]fb kfoptbrossbrts tfot ilvbrndbnt mbht donoibrs wgcc nbbm tl klnsgmbr flw tfbykon gnkrbosb tfb rbsgcgbnkb la tfbgr puhcgk mbht plrtalcgls alr tfb unkbrtogntgdbs tfot cgb ofbom.

Kfoptbr ?9, hy Mono Ybgst, Brgel ]lil, Ohfo Zrosom, onm YgccgodL‗Hlycb, bxodgnbs tfb kfoccbnibs tfot mbht donoibrs gn clw-gnkldb klun-trgbs aokb gn tfb kurrbnt bnvgrlndbnt. Klst onm rgse kforoktbrgstgks laagnonkgni lptglns fovb kfonibm mrodotgkoccy sgnkb 8::9. Gn vgbw la tfbirbotbr unkbrtognty, klpgni wgtf tfb kfoccbnibs la tfb post twl ybors wgccrbqugrb o rbbvocuotgln la bxgstgni mbht donoibdbnt strotbigbs gn tfbsbkluntrgbs, wgtf o alkus ln dgtgiotgni rgses.

Kfoptbr ?6, hy Fons @. Hclddbstbgn, prlvgmbs on lvbrvgbw la mbhtdonoibdbnt strotbigbs pursubm hy mbvbclpbm kluntrgbs. ]fb kfoptbr

mbtogcs tfb kfonibs domb hy Lriongsotgln alr Bklnldgk Kl-lpbrotglnonm Mbvbclpdbnt (LBKM) kluntrgbs tl dbbt tfb surib la ilvbrndbnthlrrlwgni nbbms unmbr tluifbr gssuonkb klnmgtglns. Hy prbsbntgni tfbprls onm klns la mbht donoibdbnt mbkgsglns sukf os irbotbr usb la synmg-kotbm clons, irbotbr rbcgonkb ln sflrt-tbrd mbhts, onm irbotbr arbqubnky la

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gntrlmuktgln ??

gssuonkb onm om flk gssuonkb, tfgs kfoptbr gccustrotbs tfb ropgmcy kfonigniklnmgtglns aokbm hy mbht donoibrs.

* * *]fgs hlle gmbntgagbs onm onocyzbs tfb sgingagkont kfoccbnibs aokbm hyilvbrndbnts trygni tl strgeb tfb rgift hoconkb hbtwbbn rbgnalrkgni agnon-kgoc stohgcgty onm rbopgni tfb hbnbagts la rbslurkb rbocclkotgln ot tfb iclhoccbvbc. Gdprlvbm mbht donoibdbnt, agnonkgoc rbiucotlry stonmorms, onmsurvbgcconkb kon occ pcoy gdplrtont rlcbs gn kurtogcgni bxkbssgvb rgse toegnionm alstbrgni stohgcgty gn mldbstgk onm gntbrnotglnoc agnonkgoc dorebts.

Os tfb onocysbs gn tfgs hlle gccustrotb, gt gs nlt bosy tl prbmgkt wgtfkbrtognty wfbtfbr tfb agnonkgoc krgsgs wgcc bvlcvb gntl o systbdgk slvbrbginmbht krgsgs. Hut tfb koutglnory wlrms la Zlclngus tfot –hlrrlwgni muccstfb bmib la fushonmry— klntgnub tl rgni trub. Omoptbm tl kurrbnt kgrkud-stonkbs, tfby klucm rbom –bxkbssgvb hlrrlwgni krbotbs mgsgnkbntgvbs tlillm plcgkgbs.—; Gt gs flpbm tfot tfgs vlcudb wgcc klntrghutb tl hbttbr plcgkydoegni, portgkucorcy hbttbr mbht donoibdbnt proktgkbs.

Nltbs

  ?. [bb, alr bxodpcb, Fbrdon, Lkodpl, onm [pgbibc (8:?:)5 Xbgnfort onm Xli-

laa (8::7)5 [turzbnbiibr onm Pbttbcdbybr (8::1)5 onm tfb kldprbfbnsgvb rbvgbw latfb cgtbroturb prlvgmbm hy Zongzzo, [turzbnbiibr, onm Pbttbcdbybr (8::7).  8. Alr o mgskussgln la tfb MXA, sbb Iodorro, Zlcclke, onm Zrgdl Hroio (8::7).  ;. ]fb bmgtlrs tfone Oort Erooy alr tfb rbabrbnkb onm tfb krbotgvb tronscotgln

la Fodcbt  Okt ?, [kbnb ;, Cgnb 6?.

Xbabrbnkbs

Kokbrbs, Korcls, Qgnkbnzl Iuzzl, onm Dgiubc [bilvgonl. 8:?:. –[lvbrbgin [prboms0Iclhoc Xgse Ovbrsgln, Klntoigln lr Aunmodbntocs<— GDA Ylregni Zopbr ?:/?8:,

Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.Iodorro, Hlrgs, Docvgno Zlcclke, onm Korcls O. Zrgdl Hroio. 8::7. –Mbht Xbcgba tl

Clw-Gnkldb Kluntrgbs0 O Xbtrlspbktgvb.— Gn Mbht Xbcgba onm Hbylnm0 CbsslnsCbornbm onm Kfoccbnibs Ofbom, bm. Korcls O. Zrgdl Hroio onm Mñrtb Mñdb-conm, ??‛;=. Yosfgnitln, MK0 ]fb Ylrcm Hone.

Fbrdon, Horry, @lsb O. Lkodpl, onm [forg [pgbibc, bms. 8:?:. Lvbrkldgni Mbvbc-lpgni Kluntry Mbht Krgsbs. Lxalrm, RE0 Lxalrm Rngvbrsgty Zrbss.

GMO (Gntbrnotglnoc Mbvbclpdbnt Osslkgotgln) onm GDA (Gntbrnotglnoc DlnbtoryAunm). 8:?:. –Zrbsbrvgni Mbht [ustognohgcgty gn Clw-Gnkldb Kluntrgbs gntfb Yoeb la tfb Iclhoc Krgsgs.— fttp0//www.gda.lri/bxtbrnoc/np/pp/bni/8:?:/

:=:??:.pma.GDA (Gntbrnotglnoc Dlnbtory Aunm). 8:?:. Agskoc Dlngtlr0 Novgiotgni tfb Agskoc

Kfoccbnibs Ofbom. Yosfgnitln, MK0 GDA.

Erubibr, Onnb L. 8::8. O Nbw Opprlokf tl [lvbrbgin Mbht Xbstrukturgni. Yosf-gnitln, MK0 Gntbrnotglnoc Dlnbtory Aunm.

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?8  prgdl hroio onm vgnkbcbttb

Zongzzo, Ril, Abmbrgkl [turzbnbiibr, onm @brldgn Pbttbcdbybr. 8::7. –]fb Bklnld-gks onm Cow la [lvbrbgin Mbht onm Mbaouct,—  @lurnoc la Bklnldgk Cgtbroturb =9 (;)0 12?‛76.

Xbgnfort, Kordbn D., onm Ebnnbtf [. Xlilaa. 8::7. ]fgs ]gdb Gs Mgaabrbnt0 BgiftKbnturgbs la Agnonkgoc Alccy. Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.

Xgbaabc, Cbx. 8::;. Xbstrukturgni [lvbrbgin Mbht0 ]fb Kosb alr Om Flk Dokfgnbry.Yosfgnitln, MK0 Hrllegnis Gnstgtutgln Zrbss.

[turzbnbiibr, Abmbrgkl, onm @brldgn Pbttbcdbybr. 8::1. Mbht Mbaoucts onm Cbsslnsarld o Mbkomb la Krgsbs. Kodhrgmib, DO0 ]fb DG] Zrbss.

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Zort G

O Nbw Yovb la

[lvbrbgin Mbht Krgsbs<

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?2

?

]fb [lvbrbgin Mbht Krgsgs 

]fot Yos NltMongbc  Klfbn onm  Kçkgcb Qocomgbr

G

n o aodlus [fbrclke Flcdbs stlry, tfb kcub tl tfb mrodo coy gn tfb aokt tfot tfb mli mgm nlt hore. Murgni tfb dlst rbkbnt agnonkgoc krgsgs, nlnb 

la  tfb usuoc suspbkts”tfb –sbrgoc mbaouctbrs— la  prbvglus slvbrbgin mbht krgsbs, nodbcy, Hrozgc, Gnmlnbsgo, Dbxgkl, onm ]fogconm”ron gntl trluhcb.

Yfot bxpcogns tfbgr pbralrdonkb< Yb laabr tfb sgdpcbst onswbr0 tfbsl-koccbm sbrgoc mbaouctbrs wbrb dukf hbttbr donoibm tfgs tgdb. Hbalrb tfbkrgsgs, tfbgr mbht rotgls fom aoccbn suhstontgoccy, occlwgni tfbd tl dlvbmlwn tfb commbr la rgse. Gn o vbry strogiftalrworm donnbr, tfby cbornbmtfb cbsslns la tfb prbvglus krgsbs onm wbrb ohcb tl sdlltf tfb lutkldb lalnb la tfb dlst alrdgmohcb agnonkgoc krgsbs la occ tgdb.

Gn lrmbr tl quontgay tfgs rbsuct, wb agrst rbvgsgt tfb fgstlry la tfb slvbrbgin

krgsbs la tfb post =: ybors. Yb sflw tfot nbgtfbr tfb sbrgoc mbaouctbr nlr tfb–iclhoc krgsgs— tfblrgbs la slvbrbgin krgsbs bxpcogn dukf. [lvbrbgin mbht krgsbsorb rbcotbm tl tfb cbvbc la gnmbhtbmnbss, wfgkf okklunts alr ohlut foca tfb rgseaoktlr wb kldputb gn tfgs kfoptbr. Foca tfb rbdogngni rgse gs rbcotbm tl tfbquocgty la ilvbrnonkb la tfb kluntry, os kopturbm hy tfb Kluntry Zlcgky onmGnstgtutglnoc Ossbssdbnt (KZGO) gnmbx, wfgkf gnmgrbktcy dbosurbs tfb ohgcgtyla kluntrgbs tl wbotfbr bxtbrnoc sflkes. Ln hltf arlnts, dlst la tfb kluntrgbstfot wbrb ot tfb kbntbr la prbvglus krgsbs orb nlw lut la tfb monibr zlnb.

Fgstlrgkoccy, wlrcm krbmgt sflkes okkluntbm alr tfb sdoccbst sforb largse la tfb aoktlrs la rgse wb quontgay”ohlut 9 pbrkbnt la lvbrocc rgselvbr tfb post =: ybors. ]fb rbkbnt krgsgs gs bxkbptglnoc. Gnmbbm, tfb baabktla wlrcm krbmgt sflkes ln tfb rgse aoktlr murgni tfb rbkbnt krgsgs wos osirbot os tfb baabkts la occ ltfbr slurkbs la rgse kldhgnbm gn borcgbr bpgslmbs.Hbkousb la tfbsb sflkes, dony kluntrgbs tfot wlucm fovb aoccbn gntl tfb

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?1  klfbn onm vocomgbr

clwbst rgse kotbilrgbs fom tfb wlrcm sflke hbbn –nlrdoc— alunm tfbd-sbcvbs gn fgif-rgse kotbilrgbs.

]wl klnacgktgni alrkbs orb ot wlre tlmoy0 clw mbht onm hom agnonkgni 

klnmgtglns.  Bxtroplcotgni  arld  prbvglus  mbaouct  bvbnts,  hom  agnonkgni sflucm mldgnotb. Os la  borcy 8:?:, flwbvbr, clw mbht oppborbm tl fovb tfb uppbr fonm. Yfgcb wogtgni alr tfb agnonkgni sgtuotgln tl gdprlvb, kon kluntrgbs hugcm ln tfbgr clw mbht hosbs tl ovlgm tfb gnkrbosb gn rgse osslkg-otbm wgtf tfb kurrbnt agnonkgni sgtuotgln< 

Alrty Wbors la [lvbrbgin Mbht Krgsbs

Gn tfgs sbktgln, wb mrow cbsslns arld post mbht krgsbs tl sfbm cgift lnwfot gs kurrbntcy foppbngni. Yb stort hy prbsbntgni lur sodpcb onm tfbvorgohcbs la gntbrbst alr tfb onocysgs.

Motohosb ln Mbht Mgstrbss Bvbnts

Lur motohosb gnkcumbs onnuoc moto ln ?81 kluntrgbs alr tfb pbrglm ?79:‛8::9. Yb usb o scgiftcy dlmgagbm vbrsgln la Erooy onm Nbfru‗s (8::=)motohosb, wfgkf wb bxtbnmbm tfrluif 8::9. O kluntry gs sogm tl bxpbrg-bnkb o mbht krgsgs gn o ybor ga lnb la tfb alcclwgni klnmgtglns flcms0

• ]fb sud la  gts gntbrbst onm prgnkgpoc orrbors ln clni-tbrd mbht lut-stonmgni tl occ krbmgtlrs bxkbbms 2 pbrkbnt la  tfb tltoc mbht lutstonm-gni. Kluntrgbs tfot orb unohcb tl sbrvgkb tfbgr bxtbrnoc mbht nbbm nlt nbkbssorgcy  aocc  gntl orrbors5  tfby kon  lhtogn hoconkb  la  poydbnts supplrt arld tfb Gntbrnotglnoc Dlnbtory Aunm (GDA) os wbcc os mbht rbskfbmucgni lr mbht rbmuktgln arld tfb Zorgs Kcuh. 

• ]fb  kluntry  rbkbgvbs mbht  rbcgba   arld  tfb  Zorgs Kcuh. Yb bxkcumb bvbnts  sukf os Fbovgcy Gnmbhtbm Zllr  Kluntrgbs  (FGZK)  Gngtgotgvb 

bxgts (kldpcbtgln plgnts), hbkousb tfby usuoccy gnmgkotb tfot o klun-try‗s pbralrdonkb fos gdprlvbm.

• ]fb kluntry rbkbgvbs suhstontgoc hoconkb la  poydbnt supplrt arld tfb GDA  gn tfb alrd la  [tonm-Hy Orronibdbnts lr Bxtbnmbm Aunm Aokgcgtgbs. ]fb odlunt la  agnonkgni o dbdhbr kon lhtogn arld tfb GDA (gts okkbss cgdgt) gs hosbm ln gts qulto. Kurrbntcy, o dbdhbr kon hlrrlw  up  tl  ?:: pbrkbnt la   gts qulto  onnuoccy onm ;::  pbrkbnt kuducotgvbcy. Flwbvbr, okkbss doy hb fgifbr gn bxkbptglnoc kgrkud-stonkbs. Yb mbagnb os bxkbptglnoc supplrt hy tfb  GDA tfb bvbnt  gn 

wfgkf o kluntry oktuoccy usbs dlrb tfon 2: pbrkbnt la  gts qulto gn lnb ybor. Erooy onm Nbfru (8::=) clle ot occ bvbnts gn wfgkf tfb GDA bxtbnmbm rbslurkbs tl o kluntry gn bxkbss la  2: pbrkbnt la  gts qulto, rbiormcbss la  wfbtfbr tfb supplrt wos oktuoccy usbm. Lur mbagngtgln gnkcumbs lncy gnstonkbs la  oktuoc mbht mgstrbss, mbagnbm fbrb os mbaoucts tfot wbrb ovlgmbm tfones tl GDA supplrt. 

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tfb slvbrbgin mbht krgsgs tfot wos nlt ?9 

Fgstlrgkoc  [totgstgks ln Mbht  Mgstrbss Bvbnts

]fb unklnmgtglnoc prlhohgcgty tfot o kluntry gn tfb motohosb bxpbrgbnkbm 

o mbht krgsgs  gn ony igvbn ybor wos ;9 pbrkbnt. Lnb pcousghcb bxpcono-tgln alr tfgs fgif agiurb  gs tfot sldb kluntrgbs orb mrgvgni tfb dbon up (tfb –sbrgoc mbaouctbrs— tfblry UXbgnfort, Xlilaa, onm [ovostonl 8::;T). Onltfbr gs tfot tfbrb orb ybors gn wfgkf occ kluntrgbs bxpbrgbnkb o krgsgs (tfb –iclhoc krgsgs— tfblry). Gnvbstgiotgln la  hltf plssghgcgtgbs rbvbocs tfot nbgtfbr klnvgnkgnicy bxpcogns tfb wflcb stlry la  mbht krgsbs. 

Yb mbagnb tfb nudhbr la  ybors gn wfgkf o kluntry gs klnsgmbrbm tl hb gn mbht mgstrbss os tfb nudhbr la  ybors gn wfgkf ot cbost lnb la  tfb tfrbb gnmgkotlrs kgtbm ohlvb  gs plsgtgvb hbtwbbn ?79: onm 8::9  (agiurb ?.?). 

]fb pgkturb fbrb, klnagrdbm hbclw hy bklnldbtrgk kfbkes, sbbds tl hb tfot wb konnlt rboccy gmbntgay twl irlups la  kluntrgbs, lnb wgtf o fgif mbaouct rotb onm lnb wgtf o vbry clw mbaouct rotb. 

Yb ocsl  gnvbstgiotb tfb bxtbnt  tl wfgkf mbht krgsbs orb  gnacubnkbm hy iclhoc bvbnts (sukf os tfb Qlckebr sflke la  tfb borcy ?76:s lr tfb klnto-igln baabkts la  tfb ]fog krgsgs la  tfb cotb ?77:s) gn o igvbn ybor, krbotgni o tgdb prlagcb la  tfb mbht krgsgs. ]fbsb moto rbvboc tfot tfbrb gs o iromuoc gnkrbosb gn tfb nudhbr la  rbplrtbm mbaoucts up tl tfb borcy ?77:s, alcclwbm hy o mbkcgnb (agiurb ?.8). 

Ln ovbroib, o igvbn kluntry gn lur sodpcb gs gn mbht mgstrbss lnb-tfgrm la  tfb tgdb (??.1 ybors lut la  ;6 ybors). Gn o igvbn ybor, ln ovbroib, lnb-tfgrm 

Agiurb ?.? Nudhbr la Mbaoucts pbr Kluntry, ?79:‛8::9

:

?:

8:

;:

=:

  n  u  d   h  b  r  l   a   m  b   a  o  u   c   t  s

: 2: ?:: ?2:

kluntry gn sodpcb

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?6  klfbn onm vocomgbr

la  tfb kluntrgbs (;6.2 lut la  ?81) orb gn mbht mgstrbss. ]fb mbtogcbm pbrkbntgcbs orb sflwn gn tohcb ?.?. 

Gn lrmbr tl sbb wfbtfbr tfbsb ovbroib nudhbrs orb fgmgni sgingagkontfbtbrlibnbgty okrlss ybors, wb bxkcumb ybors gn wfgkf dlrb tfon 28 klun-trgbs wbrb gn o mbht krgsgs (tfb alurtf quortgcb). Mlgni sl rbmukbs tfb dbononnuoc prlhohgcgty la o mbht krgsgs lncy scgiftcy, arld ;9 pbrkbnt tl ;8pbrkbnt. Yb tfbn bxkcumb kluntrgbs tfot spbnt dlrb tfon 8: ybors gn o mbhtkrgsgs”–sbrgoc mbaouctbrs—”gn lrmbr tl sbb ga tfby orb rbsplnsghcb alr tfb

fgif unklnmgtglnoc mbaouct rotb gn lur sodpcb. Mlgni sl rbmukbs tfb dbononnuoc prlhohgcgty la o mbht krgsgs tl 8= pbrkbnt.

Yb bxodgnb wfbtfbr ltfbr dbosurbs klucm klrrlhlrotb tfb –sbrgocmbaouctbrs— lr –iclhoc sflkes— tfblrgbs hy cllegni ot kluntrgbs wgtf onmwgtflut dorebt okkbss. O kluntry gs mbagnbm os o dorebt-okkbss hlrrlwbrgn o igvbn ybor ga tltoc nbt aclws gn tfb alrd la hlnms onm klddbrkgochone clons tl tfb puhcgk sbktlr orb plsgtgvb. Octfluif tfbrb gs o mgaabrbnkbgn tfb unklnmgtglnoc prlhohgcgty la mbaouct gn dorebt-okkbss kluntrgbs(89 pbrkbnt) onm nln-dorebt-okkbss kluntrgbs (=; pbrkbnt), tfb opporbntmgaabrbnkb gs oktuoccy o mgaabrbnkb gn tfb cbnitf la tfbgr krgsbs, os wb sflwhbclw. Yb tfbn clle ot ybors la iclhoc krgsbs, prlxgbm hy ybors gn wfgkftfbrb gs o rbkbssgln gn tfb Rngtbm [totbs. ]fb moto rbvboc nl sgingagkont mga-abrbnkb hbtwbbn tfb ovbroib prlhohgcgtgbs la mbht krgsbs gn ybors la rbkbs-sgln (;; pbrkbnt) onm ltfbr ybors (;6 pbrkbnt).

Agiurb ?.8 Nudhbr la Mbaoucts pbr Wbor, ?79:‛8::9

:

8:

=:

1:

  n  u  d   h  b  r  l   a   m  b   a  o  u   c   t  s

?79: ?76: ?77: 8::: 8:?:

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tfb slvbrbgin mbht krgsgs tfot wos nlt ?7

O Nbw Mbagngtgln la Mbht Mgstrbss Bvbnts

Lnb krgtgkoc prlhcbd wgtf tfbsb row stotgstgks gs tfot tfby ml nlt mgstgn-iugsf hbtwbbn lnilgni onm nbw krgsbs. ]fb fgif nudhbr la mbht mgstrbsslkkurrbnkbs oktuoccy rbacbkts tfb aokt tfot sbvbroc klnsbkutgvb ybors la krgsgsoppbor os mgaabrbnt bvbnts.

Gn lrmbr tl ommrbss tfgs prlhcbd, wb klnstrukt o nbw mbht mgstrbss kcossg-agkotgln tfot klunts mgstrbss bpgslmbs os ybors gn wfgkf o kluntry bxpbrgbnkbso mbht krgsgs alcclwgni tfrbb ybors la nl krgsgs. Yb mbagnb nlrdoc tgdbs os oybor wgtflut krgsgs prbkbmbm hy tfrbb ybors wgtflut krgsgs. ]fgs kcossgagkotglnocclws us tl gmbntgay –rboc— mbht mgstrbss bpgslmbs. Mlgni tfb sodb alr nlrdoctgdbs occlws us tl trbot bvbnts la krgsgs onm nlnkrgsgs syddbtrgkoccy gn lurbklnldbtrgk bstgdotglns onm tl klntrlc alr klvorgotbs gn t ‛ 8, enlwgni alrsurb tfot o kluntry gs nlt gn o mbht krgsgs (tl ovlgm sgductonbgty prlhcbds).

Erooy onm Nbfru (8::=) rbmbagnbm mbht mgstrbss bvbnts tl klrrbkt alr tfbaokt tfot ductgpcb ybors la mgstrbss orb nlt gnmbpbnmbnt lhsbrvotglns. ]fbystort hy bcgdgnotgni occ bpgslmbs tfot cost cbss tfon tfrbb ybors5 tfby tfbnbcgdgnotb occ mgstrbss bpgslmbs tfot orb prbkbmbm hy pbrglms la mgstrbss gn onyla tfb tfrbb prbvglus ybors. ]fby mbagnb nlrdoc tgdbs os nlnlvbrcoppgnipbrglms la agvb klnsbkutgvb ybors gn wfgkf nlnb la tfb tfrbb gnmgkotlrs lambht mgstrbss gs lhsbrvbm. ]fgs prlkbmurb occlws tfbd tl gmbntgay 7= bpgslmbsla mbht mgstrbss onm 861 nlrdoc tgdb bpgslmbs lvbr tfb pbrglm ?79:‛8::?.

]fbgr mbagngtgln cboms tl o vbry fgif unklnmgtglnoc mbaouct prlhohgcgty

la scgiftcy dlrb tfon 8: pbrkbnt gn tfbgr sodpcb. Yb mbport arld tfbgrdbtflmlcliy alr twl dogn rboslns. Agrst, wb ml nlt wont tl trbot mbaouctbvbnts (kbccs la ot cbost tfrbb ybors gn Erooy onm Nbfru) onm nlrdoc tgdbs(kbccs la agvb ybors gn Erooy onm Nbfru) osyddbtrgkoccy, os tfby ml, hbkousbwb wont tl hb ohcb tl gnabr onnuoc mbaouct prlhohgcgtgbs arld lur stotgstgkoc

]ohcb ?.? [uddory [totgstgks ln Mbaouct Bvbnts

Zbrkbntgcb

Nudhbr la ybors gn

wfgkf o igvbn kluntrygs gn mbht mgstrbss

Nudhbr la kluntrgbs

gn mbht mgstrbss gno igvbn ybor

?: : ??

82 8 8:

2: ?: =1

92 8: 28

?:: 89 27

[lurkb0 Outflrs.

Nltb0 ]fb dbmgon nudhbr la ybors murgni wfgkf o igvbn kluntry gn lur sodpcb gsklnsgmbrbm tl hb gn mbht mgstrbss gs 7.2. Gn o igvbn ybor, tfb dbmgon nudhbr la kluntrgbs

klnsgmbrbm tl hb gn mbht mgstrbss gs =2.2. Bntrgbs gn tfb tohcb fovb hbbn rlunmbm.

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8:  klfbn onm vocomgbr

onocysgs. [bklnm, os occ klvorgotbs orb toebn gn t ‛ 8 wgtf rbspbkt tl tfb agrstybor la o kbcc, gt doy hb tfot sukf lhsbrvotglns orb dbosurbm murgni o krgsgshbalrb o nlrdoc tgdbs bpgslmb, wfgkf klucm hgos tfb bstgdotgln. Ygtf lur

mbagngtgln, occ klvorgotbs orb dbosurbm gn nlrdoc tgdbs, os hltf mbaouct onmnlrdoc ybors orb prbkbmbm hy tfrbb ybors wgtflut mbaouct.

Gt gs plssghcb tfot wb gnkcumb tll dony nlnmbaouct bvbnts, wfgkf wbmbagnb os lnb-ybor bvbnts, gdpcgkgtcy ossudgni tfot nlrdoc ybors orb gnmb-pbnmbnt lhsbrvotglns wfbn tfby doy nlt hb. Yb toeb kldalrt gn tfb aokttfot lur mbaouct prlhohgcgty gs stgcc qugtb fgif (1.7 pbrkbnt o ybor), wgtfrbspbkt tl klddln dbosurbs la mbaouct prlhohgcgty sukf os sprboms, sui-ibstgni tfot klnmgtglnoc ln bxpbrgbnkgni tfrbb ybors wgtflut mbaouct, tfbrbgs stgcc o suhstontgoc rgse la mbaouctgni gn tfb alurtf ybor. Lut la ?,61;

bpgslmbs gn lur motohosb, wb gmbntgay ?86 slvbrbgin mbht krgsbs onm ?,9;2–nlrdoc— pbrglms (agiurb ?.;). Dlst kluntrgbs bxpbrgbnkb ot dlst lnb lrtwl bpgslmbs la mbht mgstrbss. Lncy o abw kluntrgbs suaabrbm mbht mgstrbssbpgslmbs dlrb tfon twgkb0 ]fb Iodhgo, Ifono, Irbnomo, ]ureby, onmRruiuoy bxpbrgbnkbm tfrbb mbht krgsbs, onm Ebnyo bxpbrgbnkbm alur. [gdg-corcy, lncy o abw pboes bdbribm, gn tfb borcy ?76:s onm 8:::s (agiurb ?.=),wgtf nl rgsgni trbnms la tfb slrt sflwn gn agiurb ?.8. Rsgni tfgs strgktbrmbagngtgln la mbht mgstrbss, wb agnm nl sgingagkont mgaabrbnkb hbtwbbn tfbprlhohgcgtgbs la unklnmgtglnoc mbaouct gn kluntrgbs wgtf onm wgtflut dorebtokkbss. Ln tfb wflcb, kldporgsln la tfb twl motohosbs sbbds tl sflw

Agiurb ?.; Nudhbr la Mbaoucts pbr Kluntry Rsgni DlmgagbmMbagngtgln la Mbaouct, ?79:‛8::9

[lurkb0 Outflrs.

:

?

8

;

=

  n  u  d   h  b  r  l   a   m  b   a  o  u   c   t  s

: 2: ?:: ?2:

kluntry

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tfb slvbrbgin mbht krgsgs tfot wos nlt 8?

tfot kluntrgbs bxpbrgbnkb clni bpgslmbs la mbht mgstrbss onm tfot nbgtfbrtfb sbrgoc mbaouctbrs tfblry nlr tfb iclhoc krgsgs tfblry sbbds tl bntgrbcybxpcogn tfb moto pottbrns.

Mbht Krgsbs, Kurrbnky Krgsbs, onm Honegni Krgsbs

Rsgni tfgs nbw mbagngtgln la mbht krgsbs, wb clle ot kurrbnky krgsbs onm sys-tbdgk honegni krgsbs tl sbb flw tfby klrrbcotb wgtf mbht krgsbs. Yb alcclwtfb mbagngtglns la Cobvbn onm Qocbnkgo (8::6) tl gmbntgay hltf kurrbnkyonm honegni krgsbs. O kluntry gs sogm tl bxpbrgbnkb o kurrbnky krgsgs gn o

igvbn ybor ga tfb bxkfonib rotb wgtf rbspbkt tl tfb R.[. mlccor aoccs dlrbtfon ;: pbrkbnt onm tfb rotb la mbprbkgotgln gs ot cbost ?: pbrkbnt irbotbrtfon tfot la tfb prbvglus ybor. (]fb sbklnm klnmgtgln gs mbsginbm tl wbbmlut kluntrgbs klnstontcy bxpbrgbnkgni fgif gnacotgln rotbs tfot orb nltbxpbrgbnkgni o kurrbnky krgsgs.)

Gn lrmbr tl dbosurb bxkfonib rotb mbprbkgotgln, Cobvbn onm Qocbnkgousb tfb pbrkbnt kfonib la tfb bnm-la-pbrglm laagkgoc nldgnoc hgcotbroc mlc-cor bxkfonib rotb arld tfb Ylrcm Bklnldgk Lutclle (YBL) motohosbla tfb GDA. Alr kluntrgbs tfot dbbt tfb krgtbrgo alr sbvbroc klntgnulus

ybors, tfby usb tfb agrst ybor la bokf agvb-ybor wgnmlw tl gmbntgay o kur-rbnky krgsgs (agiurb ?.2). ]fgs mbagngtgln ygbcms ?97 kurrbnky krgsbs murgnitfb pbrglm ?79:‛8::9 alr lur sodpcb la kluntrgbs. ]fbsb bpgslmbs ocslgnkcumb corib mbvocuotglns hy kluntrgbs tfot omlpt agxbm bxkfonib rotbrbigdbs.

Agiurb ?.= Nudhbr la Mbaoucts pbr Wbor Rsgni DlmgagbmMbagngtgln la Mbaouct, ?79:‛8::9

[lurkb0 Outflrs.

:

2

?:

?2

  n  u  d   h  b  r  l   a   m  b   a  o  u   c   t  s

?79: ?76: ?77: 8::: 8:?:

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88  klfbn onm vocomgbr

Cobvbn onm Qocbnkgo (p. 9) mbagnb systbdgk honegni krgsbs os alcclws0

Gn o systbdgk honegni krgsgs, o kluntry‗s klrplrotb onm agnonkgoc sbk-tlrs bxpbrgbnkb o corib nudhbr la mbaoucts onm agnonkgoc gnstgtutglnsonm klrplrotglns aokb irbot mgaagkuctgbs rbpoygni klntrokts ln tgdb.Os o rbsuct, nlnpbralrdgni clons gnkrbosb sforpcy onm occ lr dlst latfb oiirbiotb honegni systbd kopgtoc gs bxfoustbm. ]fgs sgtuotgln doyhb okkldpongbm hy mbprbssbm ossbt prgkbs (sukf os bqugty onm rbocbstotb prgkbs) ln tfb fbbcs la run-ups hbalrb tfb krgsgs, sforp gnkrbosbsgn rboc gntbrbst rotbs, onm o sclwmlwn lr rbvbrsoc gn kopgtoc aclws.

Rsgni tfgs mbagngtgln, wb gmbntgay ?:1 systbdgk honegni krgsbs gn lur sod-pcb la kluntrgbs lvbr tfb pbrglm ?79:‛8::9 (agiurb ?.1).

Alcclwgni Cobvbn onm Qocbnkgo, wb mbagnb o twgn krgsgs gn ybor t  os ombht (kurrbnky) krgsgs gn ybor t , kldhgnbm wgtf o kurrbnky (honegni) krgsgsmurgni Ut ‛?, t + ?T. Yb mbagnb o trgpcb krgsgs gn ybor t os o mbht krgsgs gn ybort , kldhgnbm wgtf o kurrbnky krgsgs murgni Ut  ‛?, t + ?T onm o honegni krgsgsmurgni Ut  ‛?, t + ?T. Yb gmbntgay ;1 sgductonblus slvbrbgin onm kurrbnkykrgsbs, ?7 sgductonblus slvbrbgin onm honegni krgsbs, =: sgductonblus kur-

rbnky onm honegni krgsbs, onm ?: trgpcb krgsbs (sbb onnbx tohcb ?O.?). ]fbsodpcb gnkcumbs ?86 mbht krgsbs.]fbsb rbsucts gnmgkotb tfot mbht krgsbs orb nlt usuoccy klrrbcotbm wgtf

ltfbr egnms la krgsbs hut orb rotfbr krgsbs la tfbgr lwn. Yfbn wb kfonibtfb lhsbrvotgln wgnmlw arld Ut  ‛?, t + ?T tl Ut ‛ 8, t + 8T, qugtb o suhstontgocbxponsgln la tfb ronib la lhsbrvotgln, wb gmbntgay =7 sgductonblus slvbrbgin

Agiurb ?.2 Nudhbr la Kurrbnky Krgsbs pbr Wbor, ?79:‛8::9

[lurkb0 Outflrs.

:

2

?:

?2

8:

82

  n  u

  d   h  b  r  l   a  k  u  r  r  b  n  k  y  k  r   g  s  b  s

?79: ?76: ?77: 8:::   8:?:

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tfb slvbrbgin mbht krgsgs tfot wos nlt 8;

onm kurrbnky krgsbs, 8= sgductonblus slvbrbgin onm honegni krgsbs, onm2= sgductonblus kurrbnky onm honegni krgsbs. ]fb nudhbr la trgpcb krgsbsrgsbs tl ?9 bvbnts, hut tfb agiurb stgcc rbdogns clw rbcotgvb tl tfb lvbroccnudhbr la slvbrbgin mbht krgsbs.

[lvbrbgin Xgse Kotbilrgbs onm [lurkbs la Xgse

Lnkb tfb mbht mgstrbss bvbnts prlpbrcy mbcgdgtbm, wb kldputb gn tfgs sbk-tgln tfb fgstlrgkoc mbaouct prlhohgcgtgbs la tfb kluntrgbs gn lur sodpcb.

Rsgni o cgdgtbm nudhbr la klrb bxpconotlry vorgohcbs, wb orb ohcb tlgmbntgay tfb unmbrcygni rgse aoktlr tl tfgs prlhohgcgty onm tl onocyzb flwgt fos rbkbntcy bvlcvbm.

Dokrlbklnldgk Mbtbrdgnonts la Mbht Krgsbs

]fb cgtbroturb ln tfb mbtbrdgnonts la mbht mbaoucts usuoccy bstgdotbs tfbklntrghutgln la vorglus bxpconotlry vorgohcbs tl tfb prlhohgcgty la o mbhtkrgsgs usgni tfb alcclwgni dlmbc0

Z (ykt  4 ?) 4 I ( h  'Vkt) ,

gn wfgkf ykt  gs o muddy vorgohcb bquoc tl ? wfbn kluntry k bxpbrgbnkbs o

mbht krgsgs ot tgdb t  onm : ltfbrwgsb. Vkt  gs o vbktlr la bxpconotlry vorgohcbs,

 h  gs tfb vbktlr la bstgdotbm klbaagkgbnts, onm I gs usuoccy toebn os tfb kudu-cotgvb mgstrghutgln aunktgln la tfb cligstgk mgstrghutgln (cligt bstgdotgln).

Agiurb ?.1 Nudhbr la Honegni Krgsbs pbr Wbor, ?79:‛8::9

:

2

?:

?2

  n

  u  d   h  b  r  l   a   h  o  n   e   g  n  i  k  r   g  s  b  s

?79: ?76: ?77: 8::: 8:?:

[lurkb0 Outflrs.

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8=  klfbn onm vocomgbr

Yb run o cligt rbirbssgln tl bxpcogn tfb rgse la o mbht krgsgs hy tfbalcclwgni vorgohcbs0 cliorgtfd la mbht tl IMZ, tltoc mbht sbrvgkb lvbrbxplrts, IMZ pbr kopgto, tfb kluntry‗s KZGO gnmbx, onm o ybor-agxbm

vorgohcb tfot dbosurbs tfb sprbom hbtwbbn tfb ygbcm la R.[. klrplrotbhlnms rotbm Hoo hy Dllmy‗s onm tfb ygbcm ln ?:-ybor R.[. ]rbosuryhlnms os o prlxy alr wlrcmwgmb agnonkgoc sflkes. Gn lur rbirbssglns, wbdbosurb bokf la tfb klvorgotbs twl ybors hbalrb tfb mbht mgstrbss bvbnt,gn lrmbr tl dgtgiotb tfb pltbntgoc sgductonbgty hgos, bxkbpt alr tfb HooR.[. klrplrotbs sprbom, wfgkf dbosurbs kurrbnt agnonkgoc klnmgtglns(tohcb ?.8).

Os bxpbktbm, occ eby vorgohcbs orb fgifcy sgingagkont. Gnkldb gs kcborcyo prlxy alr dony fgmmbn vorgohcbs, sukf os rgses (mldbstgk lr bxtbrnoc)

ltfbr tfon tflsb kopturbm hy tfb KZGO gnmbx. Gn lrmbr tl tbst tfb sbrgocmbaouctbrs‗ fypltfbsgs dlrb alrdoccy, wb trgbm tl gnkcumb sbvbroc muddyvorgohcbs tfot wbrb bquoc tl ? wfbn tfb kluntry fom mbaouctbm ot cbostlnb tgdb gn tfb post ;:, 8:, lr ?: ybors. Nlnb la tfbsb muddgbs bntbrbmsgingagkontcy gn tfb rbirbssgln.

]ohcb ?.8 Mbtbrdgnonts la MbaouctQorgohcb Mbht mgstrbss 4 ?

cn (mbht/IMZ) :.28;***(:.?77)

]ltoc mbht sbrvgkb/bxplrts ;.7=;***(:.972)

Xboc IMZ pbr kopgto ‛:.;97***(:.?=6)

KZGO gnmbx ‛:.299***(:.?6?)

Hoo-rotbm R.[. klrplrotbs sprbom :.1??***(:.8;1)

Gntbrkbpt :.9?6(?.?8)

Nudhbr la lhsbrvotglns ?,?27

Zsbuml X¸ :.:769

Zrlh > kfg8

:[lurkb0 Outflrs.

Nltb0 [tonmorm brrlrs orb sflwn gn porbntfbsbs.

*** [gingagkont ot tfb ?% cbvbc.

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tfb slvbrbgin mbht krgsgs tfot wos nlt 82

Kcossgagkotgln la Kluntrgbs gntl Kotbilrgbs

]fb agttbm vocubs la tfb cligt rbirbssgln prbsbntbm gn tohcb ?.8 occlw us tl

rone occ bvbnts (mbaoucts onm nlrdoc pbrglms) gn lur motohosb hosbm lntfbgr mbaouct prlhohgcgtgbs. Yb kcossgay kluntrgbs gntl agvb kotbilrgbs (O, H,K, M, onm B) klrrbsplnmgni tl tfb agvb qugntgcbs la rgse (tohcb ?.;). Yb usbo mgsklntgnulus kcossgagkotgln gn lrmbr tl klnvby dlrb bosgcy tfon wgtf oklntgnulus ronegni tfb bxtbnt tl wfgkf o kluntry kfonibs arld lnb rgsekotbilry tl onltfbr lr rbdogns ot tfb sodb cbvbc la rgse.

]fb dbmgon mbaouctbr gs gn kotbilry M, wgtf o mbaouct prlhohgcgty la?:.1 pbrkbnt5 tfb dbmgon nlnmbaouctbrs orb gn kotbilry K, wgtf o mbaouctprlhohgcgty la ohlut 2 pbrkbnt. Ohlut 82 pbrkbnt la nlnmbaouctbrs stonm gn

kotbilry M, onm ohlut tfb sodb nudhbr la mbaouctbrs orb gn kotbilry H.Gn lrmbr tl ossbss tfb stohgcgty la bokf irlup, wb onocyzb flw dony

mbaouctbrs ot tgdb t kfonibm kotbilry lvbr tfb klursb la tfb tfrbb prbvglusybors. Yb orb ohcb tl kldputb bstgdotbm prlhohgcgtgbs ot tgdb t  alr 6? la66 mbht mgstrbss bvbnts (sldb klvorgotbs orb dgssgni alr 9 bvbnts) onm alr99 bvbnts ot tgdb t  ‛ ;.

]fb huce la mbaouctbrs (1: la 92) wbrb gn kotbilrgbs M lr B ot tfb tgdb latfbgr mbaouct onm wbrb ocrbomy gn o rgsey kotbilry tfrbb ybors borcgbr (== la92) (tohcb ?.=). O nudhbr la K kluntrgbs hbkodb M lr B kotbilry kluntrgbsmurgni tfb tfrbb ybors hbalrb tfbgr mbaouct. ]fb dlst strgegni kfonib kldbsarld tfb ?? la tfb ?1 kluntrgbs gn kotbilry K tfot turnbm gntl kotbilry Bkluntrgbs ot tfb tgdb la tfb krgsgs. Hbtwbbn t ‛ ; onm t , tfb mgstrghutgln lalur sodpcb la mbaoucts, wfgkf wos bvbncy sprbom ot t ‛; odlni kotbilrgbsK, M, onm B, sebwbm tlworm tfb B kotbilry ot tgdb t .

]ohcb ?.; Xgse Kotbilry Mbagngtglns onm Nudhbr la Mbaouct onm

Nlnmbaouct Bvbnts, hy Kotbilry

Kotbilry

Zrlhohgcgty laslvbrbgin mbaouct

(pbrkbnt)Nudhbr la

mbaouct bvbnts

Nudhbrla nlnmbaouct

bvbnts

O Cbss tfon 8.2 = 889

H 8.2‛=.= ?: 888

K =.=‛9.? ?1 8?1

M 9.?‛??.; ?1 8?1

B Dlrb tfon ??.; =8 ?7:

]ltoc 66 ?,:9?

[lurkb0 Outflrs.

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81  klfbn onm vocomgbr

Gn lncy ?: kosbs wos on bvbnt la mbaouct tfb rbsuct la o strlni mbtb-rglrotgln la tfb rgse gnmbx (mbaouctbrs gn kotbilry O lr H ot tgdb  t ‛ ;bnmgni up gn kotbilry M lr B ot tgdb t ).? Odlni kluntrgbs tfot mbaouctbmwfgcb hbclnigni tl kotbilry K ot tgdb t , = la 9 fom hbbn gn kotbilryM lr B.

]fgs onbkmltoc bvgmbnkb gs gnklnsgstbnt wgtf tfb vgbw la Mocb, Dbrtln,onm Hlmgb (8::9) tfot rgses kon okkuducotb iromuoccy onm tfbn summbncybrupt gntl o aucc-hclwn krgsgs os o rbsuct la nlncgnborgtgbs. Alr Dbrtln,ronmld kfonibs gn agnonkgoc aclws onm dorebt prgkbs kousb unkbrtogntyohlut tfb vocub la o kluntry‗s ossbts onm cgohgcgtgbs. Ot sldb plgnt, tfgsunkbrtognty klucm kousb tfb tltoc vocub la ossbts tl mbkcgnb tl hbclw tfbcbvbc la prldgsbm poydbnts ln tfb mbht, kousgni mgstrbss lr mbaouct. Gt

gs form tl sbb flw stlkfostgk vlcotgcgty sukf os tfot gnmukbm hy sgdpcbHrlwngon dltgln klucm hy gtsbca bxpcogn tfb bruptgln la krgsbs, flwbvbr,os gn klntgnulus tgdb tfbrb sflucm ocwoys hb rlld alr om`ustdbnt hbalrbtfb krgsgs.

Kluntry Xgse lvbr tfb Zost =: Wbors

]fb dbmgon kluntry gn lur sodpcb hbclnis tl kotbilry H onm bxfghgts onbxplsurb tl rgse la ohlut 2 pbrkbnt o ybor. ]fgs sbbdgnicy clw nudhbr gs

gn aokt vbry fgif, os gt dbons tfot tfb prlhohgcgty la nlt mbaouctgni lvbro =:-ybor pbrglm gs bstgdotbm tl hb `ust ?= pbrkbnt. Gnmbbm, lncy ngnbkluntrgbs gn lur sodpcb (Hltswono, Klcldhgo, Ag`g, Col Zblpcb‗s Mbdl-krotgk Xbpuhcgk UZMXT, Cbsltfl, Docoysgo, Nbpoc, Zopuo Nbw Iugnbo,onm [odlo) nbvbr mbaouctbm.

]ohcb ?.= Mynodgks la Xgse Kotbilrgbs

? 8 ; = 2

]ltoc Ot ‛ ; Ht ‛ ; Kt ‛ ; Mt ‛ ; Bt ‛ ;

? Mbaouctbrs Ot 

: : : 8 : 8

8 Mbaouctbrs Ht 

= : ? ? : 1

; Mbaouctbrs Kt 

: ? 8 ; ? 9

= Mbaouctbrs Mt 

? = 8 = ? ?8

2 Mbaouctbrs Bt 

: 2 ?? ?: 88 =6

]ltoc 2 ?: ?1 8: 8= 92

[lurkb0 Outflrs.Nltb0 ]ohcb sflucm hb rbom os alcclws0 cgnb 8”lut la sgx mbaouctbrs gn kcoss H ot tfb

tgdb la tfbgr mbaouct, alur wbrb gn kcoss O, lnb wos gn kcoss K, onm lnb wos gn kcoss M

ot tgdb t  ‛ ;5 klcudn 8”odlni mbaouctbrs ot tgdb t , ?: wbrb gn rgse kotbilry H ot

tgdb t  ‛ ;. Odlni tfbsb, lnb bnmbm up gn kotbilry K, alur gn kotbilry M, onm agvb gn

kotbilry B ot tfb tgdb la mbaouct.

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tfb slvbrbgin mbht krgsgs tfot wos nlt 89 

[lurkbs la Xgse

Alur aoktlrs stonm lut gn lur bstgdotglns la tfb cgebcgfllm la o mbht mgs-

trbss bpgslmb0

• Mbht onm mbht sbrvgkb• IMZ pbr kopgto• Ilvbrnonkb quocgty (os dbosurbm hy tfb KZGO gnmbx)• Ylrcm sflke (Hoo-rotbm ]rbosury Hlnm sprbom).

Yb mbnltb os z tfb rgse gnmbx klrrbsplnmgni tl tfb cgnbor kldhgnotglnla tfbsb rgse aoktlrs wbgiftbm hy tfb klbaagkgbnts la tfb hosbcgnb rbirbssgln.

]fb mbaouct prlhohgcgtgbs wb bstgdotb orb sgdpcy I(z), gn wfgkf I gs tfbkuducotgvb mgstrghutgln aunktgln la tfb cligstgk mgstrghutgln. ]fb z aoktlrfos tfb dbrgt la hbgni ommgtgvb, os aor os tfb kousb la rgse gs klnkbrnbm. Os orbsuct, wb kon dbosurb tfb wbgift la o portgkucor aoktlr ln tfb prlhohgcgtyla rgse tfrluif gts mgrbkt gnacubnkb ln z onm tfbn kldporb tfot wbgift wgtftfb wbgift la ltfbr aoktlrs.

Gn lrmbr tl dbosurb tfb gnacubnkb la bokf vorgohcb ln tfb mbaouct prlh-ohgcgty, wb kldputb tfb ovbroib vocub la bokf vorgohcb (wbgiftbm hy gtsklbaagkgbnt gn tfb rbirbssgln) alr bokf rgse kotbilry alr bokf lhsbrvotgln gnlur rbirbssgln sodpcb (tohcb ?.2). (Alr tfb z gnmbx onm gts mbkldplsgtglnalr bokf la tfb 66 mbaouct bpgslmbs, sbb onnbx tohcb ?O.8.)

]fb huce la tfb mgskrbponky hbtwbbn tfb fgif rgse (sklrb ‛?.2 gn tfboiirbiotb) onm tfb clw rgse (sklrb ‛=.?) kldbs mgrbktcy arld tfb mbht vorg-ohcb, wfgkf bxpcogn =1 pbrkbnt la tfb iop. ]fb KZGO gnmbx kldbs sbklnm,bxpcogngni onltfbr 82 pbrkbnt la tfb iop hbtwbbn tfb hbst onm wlrstpbralrdbrs. IMZ bxpcogns ?= pbrkbnt la tfb iop, onm tfb wlrcm sflkebxpcogns 9 pbrkbnt.

[ldb vorgohcbs fovb o strlni gnacubnkb ln tfb rgse aoktlr”onm uctg-dotbcy ln mbaouct prlhohgcgtgbs”gn occ rgse kotbilrgbs. Ltfbr vorgohcbs

]ohcb ?.2 [lurkbs la Xgse (z Aoktlr), hy Xgse Kotbilry

Qorgohcb O H K M B

Mbht + mbht sbrvgkb ‛:.2 ‛:.8 :.:2 :.; :.6

Ilvbrnonkb quocgty ‛8.; ‛8.? ‛?.7 ‛?.6 ‛?.1

IMZ pbr kopgto ‛;.8 ‛;.? ‛;.: ‛8.7 ‛8.6

Ylrcm sflke ?.8 ?.; ?.; ?.; ?.=Gntbrkbpt :.9 :.9 :.9 :.9 :.9

z ‛=.? ‛;.= ‛8.6 ‛8.= ‛?.2

[lurkb0 Outflrs.

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86  klfbn onm vocomgbr

vory okrlss rgse kotbilrgbs. ]fgs aokt rbstlrbs tfb rbcbvonkb la gnstgtutglnocvorgohcbs wgtflut mgdgngsfgni tfot la mbht hurmbns.

]l kockucotb tfb klrrbsplnmgni prlhohgcgtgbs la mbaouct, wb pbralrdtfb alcclwgni bxbrkgsb (sbb tohcb ?.1). Yb toeb tfb ovbroib vocubs la bokfvorgohcb alr kcoss B kluntrgbs os o nudbrogrb onm kldputb tfb rlcb la bokfaoktlr gn bxpcogngni tfb lvbrocc rgse. Yb dbosurb tfb mbirbb tl wfgkf tfbrgse mbkcgnbs wfbn wb kfonib tfb ovbroib la bokf la tfb agvb vorgohcbs gn Btl tfb ovbroib gn irlup O, H, K, onm M (tohcb ?.1). Dlrb prbkgsbcy, gn tfgstohcb wb kldputb alr bokf kbcc Z(xg + vB), wfbrb xg + vg 4 zg. Occ x, v onmz orb ovbroibm lvbr g 4 O, H. . .B. ]fgs prlkbmurb occlws us tl dbosurb tfbklntrghutgln la bokf aoktlr tl tltoc rgse. Gt sflws, alr bxodpcb, tfot tfbrgse la mbaouct aoccs arld ?6 pbrkbnt tl 1 pbrkbnt ga tfb ovbroib rotgl la mbhtgn tfb fgifbst-rgse irlup (B) aoccs tl tfot la tfb clwbst-rgse irlup (O).

Ossbssgni [lvbrbgin Xgse ]lmoy

Yfot orb tfb clldgni rgses la slvbrbgin mbaouct tlmoy< ]l onswbr tfgs

krgtgkoc qubstgln, wb stort hy onocyzgni tfb rgse kotbilrgbs slvbrbgin klun-trgbs hbclni tl.

Kurrbnt Xgse Kotbilrgbs

Yb kcossgay kluntrgbs gn lnb la lur agvb kotbilrgbs, usgni prbmgktlrs hosbmln moto coiibm hy twl ybors (tohcb ?.9). Yb fovb moto ln tfb klvorgotbsgn 8::9 ln lncy =6 kluntrgbs. Alr tfb ltfbr 19 kluntrgbs, wb klnmukt orgse onocysgs hosbm ln tfb cotbst vocubs ovogcohcb. Os tfb moto sflw, tfb

mgstrghutgln la kluntrgbs lvbr rgse kotbilrgbs fos nlt kfonibm dukf lvbrtfb post =: ybors. Dlst kluntrgbs orb stgcc gn kotbilrgbs M onm B.]fb mbht rgse aoktlr mbkrbosbm klnsgmbrohcy alr occ kotbilrgbs la klun-

trgbs. Gn 8::7 kotbilry K kluntrgbs fom tfb sodb mbht rgse gnmbx os kotb-ilry O kluntrgbs mgm lvbr tfb prbvglus =: ybors (‛:.2). ]fb IMZ rgse aoktlr

]ohcb ?.1 Klntrghutgln la tfb Xgse Aoktlrs tl Mbaouct Zrlhohgcgty,hy Xgse Kotbilry

Qorgohcb O H K M Bx 4 mbht + mbht sbrvgkb :.:1 :.:6 :.?: :.?8 :.?6

x 4 ilvbrnonkb quocgty :.?: :.?8 :.?= :.?2 :.?6

x 4 IMZ pbr kopgto :.?; :.?= :.?2 :.?9 :.?6

x 4 wlrcm sflke :.?2 :.?9 :.?9 :.?9 :.?6

z :.:8 :.:; :.:1 :.:6 :.?6

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tfb slvbrbgin mbht krgsgs tfot wos nlt 87

pcoys o irbotbr rlcb nlw tfon gt usbm tl alr occ kotbilrgbs la rgse (o kluntrygn kotbilry B gn 8::7 fos o IMZ rgse gnmbx ocdlst bquoc tl tfb gnmbx la okotbilry K kluntry gn tfb prbvglus =: ybors). ]fb ilvbrnonkb rgse aoktlr gsot ohlut tfb sodb cbvbc gn 8::7 onm murgni tfb =: ybors la tfb sodpcb.

Oport arld tfb odbcglrotgln la tfb rgse aoktlr osslkgotbm wgtf fgifbrcbvbcs la IMZ pbr kopgto onm clwbr cbvbcs la mbht, tfb hgiibst kfonibgs tfb fuib gnkrbosb gn tfb wlrcm sflke rgse aoktlr, wfgkf rlsb arld?.8 tl 8.2 (tohcb ?.6). Xgse gs nlw mrgvbn ocdlst bntgrbcy hy tfb wlrcmsflke aoktlr, os prlxgbm hy tfb fgif sprbom ln Hoo-rotbm R.[. klrplrotbgn 8::7.

Kurrbnt [lurkbs la Xgse

]fb rgse kcossgagkotgln alr occ la tfb kluntrgbs gn lur sodpcb os la 8::7 (lrcotbst gnalrdotgln ovogcohcb) rbvbocs tfot dlst kluntrgbs fovb wgtfstllmtfb krgsgs (onnbx tohcb ?O.;). ]fb wlrcm sflke aoktlr bxpcogns o irbot mboc

la tfb rgse kcossgagkotgln alr kluntrgbs os la 8::7.Os tfb agnonkgoc krgsgs fos nlw coribcy possbm, wb ocsl sflw tfb rgse

kotbilry gntl wfgkf kluntrgbs wlucm aocc ga tfb wlrcm sflke aoktlr wbrbsbt bquoc tl gts borcy 8:?: cbvbc (ovbroib la mogcy sprboms alr @onuory, Abh-ruory, onm Dorkf) (tohcb ?.7). Hbtwbbn 8::7 onm 8:?:, dlst kluntrgbsdlvbm tl clwbr rgse kotbilrgbs.

Foca la tfb 8: kluntrgbs gn kotbilrgbs M lr B gn 8:?: orb nlt bxpbrg-bnkgni on lnilgni mbht krgsgs. ]fbsb kluntrgbs orb Hbcgzb, Brgtrbo, Iugnbo-Hgssou, Eozoefston, Col ZMX, Cbhonln, Dourgtongo, Ngibr, [odlo, onm

tfb [lcldln Gsconms (tohcb ?.?:). ]fb dogn rgse aoktlr alr dlst la tfbsbkluntrgbs cgbs wgtf tfb mbht cbvbc. Alr Hbcgzb, Iugnbo-Hgssou, Eozoefston, onm[odlo, tfb wbgift la tfb mbht aoktlr gs vbry fgif kldporbm wgtf fgstlrg-koc ovbroibs alr kotbilry M onm B kluntrgbs. Alr Brgtrbo onm tfb [lcldlnGsconms, tfb dogn rgse aoktlr gs pbr kopgto IMZ irlwtf.

]ohcb ?.9  Nudhbr la Kluntrgbsgn Bokf Xgse Kotbilry, 8::7

Xgse kotbilry Nudhbr lakluntrgbs

O 2

H ?:

K ?9

M =1

B ;9

]ltoc ??2

[lurkb0 Outflrs.

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;:  klfbn onm vocomgbr

]ohcb ?.7 Mgstrghutgln la Kluntrgbs okrlssXgse Kotbilrgbs wgtf Ylrcm [flke Aoktlr[bt ot Agrst _uortbr 8:?: Cbvbc

Xgse kotbilryNudhbr lakluntrgbs

O 8?

H =9

K 89

M 2

B ?2

[lurkb0 Outflrs.

]ohcb ?.?: Xgse Aoktlrs alr Kotbilry M onm B Kluntrgbs os laAgrst _uortbr 8:?:

Kluntry Mbht aoktlr Ilvbrnonkb IMZYlrcmsflke Gntbrkbpt z

Hbcgzb 8.1 ‛?.9 ‛;.2 ?.1 :.9 ‛:.;

Brgtrbo ‛:.? ‛?.= ‛8.= ?.1 :.9 ‛?.9

Iugnbo-Hgssou 8.: ‛?.2 ‛8.2 ?.1 :.9 :.;

Eozoefston ?.7 ‛8.? ‛;.9 ?.1 :.9 ‛?.1

Col ZMX :.1 ‛?.6 ‛;.: ?.1 :.9 ‛?.6

Cbhonln :.9 ‛?.9 ‛;.= ?.1 :.9 ‛8.?

Dourgtongo :.9 ‛?.7 ‛;.: ?.1 :.9 ‛?.7

Ngibr :.; ‛?.7 ‛8.1 ?.1 :.9 ‛?.7

[odlo ?.2 ‛8.8 ‛;.; ?.1 :.9 ‛?.6

[lcldln Gsconms ‛:.; ‛?.1 ‛8.9 ?.1 :.9 ‛8.;

[lurkb0 Outflrs.

]ohcb ?.6 [lurkbs la Xgse (z Aoktlr), 8::7

Qorgohcb   O H K M B

Mbht + mbht sbrvgkb ‛:.6 ‛:.9 ‛:.2 ‛:.8 :.1

Ilvbrnonkb quocgty ‛8.1 ‛8.; ‛8.? ‛8.? ‛?.7

IMZ pbr kopgto ‛;.1 ‛;.2 ‛;.= ‛;.8 ‛;.:

Ylrcm sflke 8.2 8.2 8.2 8.2 8.2

Gntbrkbpt :.9 :.9 :.9 :.9 :.9

z ‛;.7 ‛;.; ‛8.6 ‛8.; ‛?.?

[lurkb0 Outflrs.

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tfb slvbrbgin mbht krgsgs tfot wos nlt ;?

Nbw Mbht Mgstrbss Bvbnts gn 8::6/:7

Hbkousb la coke la gnalrdotgln ln orrbors ln prgnkgpoc lr gntbrbst poydbnts

alr 8::6 onm 8::7, wb clle lncy ot tfb ltfbr twl gnmgkotlrs tl gmbntgayrbkbnt bpgslmbs la mbht mgstrbss. Gn 8::6 sgx kluntrgbs hlrrlwbm arldtfb GDA tfrluif [tonm-Hy Orronibdbnts lr Bxtbnmbm Aunm Aokgcgtgbs gnbxkbss la 2: pbrkbnt la tfbgr qulto (Iblrigo, Cotvgo, Cghbrgo, Zoegston, tfb[bykfbccbs, onm Rerognb). Gn 8::7, ?: kluntrgbs mgm sl (Ordbngo, Hbcorus,Hlsngo, tfb Mldgngkon Xbpuhcgk Dlnilcgo, Xldongo, Onilco, Docmgvbs,tfb [bykfbccbs, onm [rg Coneo). Gn 8::6 agvb kluntrgbs hbnbagtbm arld mbhtrbcgba arld tfb Zorgs Kcuh tfot wos nlt rbcotbm tl tfb FGZK Gngtgotgvb (tfbXbpuhcgk la Klnil, M`ghlutg, Iugnbo, Cghbrgo, onm ]lil). Gn 8::7 tfrbb

kluntrgbs hbnbagtbm arld sukf ossgstonkb (Kldlrls, Kýtb m‗Gvlgrb, onmtfb [bykfbccbs).

Ga wb usb lur prbvglus mbagngtgln la o mbht krgsgs (o mbht mgstrbss bvbnt prb-kbmbm hy tfrbb ybors wgtflut krgsgs), lncy 7 la tfbsb 8? mbht mgstrbss bvbnts rbp-rbsbnt nbw mbht krgsbs (Ordbngo 8::7, Hbcorus 8::7, Hlsngo onm Fbrzbilvgno8::7, Docmgvbs 8::7, Dlnilcgo 8::7, Zoegston 8::6, Xldongo 8::7,[rg Coneo 8::7, onm Rerognb 8::6). Occ la tfb ltfbr bpgslmbs rbprbsbnt lnil-gni krgsbs. Xbkotbilrgzgni tfbsb kluntrgbs usgni tfb 8:?: wlrcm sflke aoktlrdlvbs occ la tfbd gntl cbss rgsey kotbilrgbs (tohcb ?.??).

]ohcb ?.?? Xgse Kotbilrgbs la Kluntrgbs Aokgni NbwMbht Mgstrbss

Kluntry

Bstgdotbmonnuoc mgstrbss

 prlhohgcgty (8::7)

Xgse kotbilryusgni 8::7 wlrcm

sflke aoktlr

Xgse kotbilryusgni 8:?: wlrcm

sflke aoktlr

Ordbngo :.:= H O

Hbcoruso :.:= H O

Hlsngo onmFbrzbilvgno :.:6 M H

Docmgvbs :.:6 M H

Dlnilcgo :.:7 M H

Zoegston :.:6 M H

Xldongoo :.?: M H

[rg Coneo :.:7 M H

Rerognbh

:.?: M K[lurkb0 Outflrs.

Nltb0 ]ohcb gnkcumbs kluntrgbs tfot bxpbrgbnkbm nbw bpgslmbs la mbht mgstrbss gn

8::6 lr 8::7.

o. KZGO 8::1 usbm alr prl`bktgln.

h. KZGO 8::2 usbm alr prl`bktgln.

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;8  klfbn onm vocomgbr

Nlt surprgsgnicy, dlst la tfb kluntrgbs gn tohcb ?.??, gnkcumgni sgx la tfbngnb Bostbrn Burlpbon kluntrgbs, wbrb gn rgsey kotbilrgbs twl ybors hbalrbtfbgr krgsbs. ]fb aokt tfot sgx lut la ngnb orb Bostbrn Burlpbon kluntrgbs

gs rbdgngskbnt la tfb Xussgon krgsgs la ?776, wfbn Xussgo mbaouctbm wgtfocdlst nl mbht. ]fb nbw unmbrcygni aoktlr ot wlre fbrb gs tfb wlrcm krgsgs.Hosbm ln kurrbnt sprboms, occ la tfb kluntrgbs gn tohcb ?.?? wlucm aocc gntltfb twl clwbst-rgse kotbilrgbs.

Klnkcumgni Xbdores

]fb agnonkgoc krgsgs la 8::6‛:7 wos tfb wlrst krgsgs sgnkb tfb Irbot

Mbprbssgln. Octfluif gts doingtumb wos sukf tfot dlst kluntrgbs sflucmfovb hbbn gn mgrb mgaagkuctgbs, abw kluntrgbs mbaouctbm. ]fb strogiftalrwormbxpconotgln la wfy tfb baabkts wbrb nlt dlrb sbvbrb gs tfot dony klun-trgbs, bvbn odlni slvbrbgin mbaouctbrs, wbrb dukf hbttbr donoibm tfontfby fom hbbn gn prbvglus krgsgs bpgslmbs. Dlst la tfb dlst vucnbrohcbkluntrgbs cokebm okkbss tl agnonkgoc dorebts, wfgkf gnsucotbm tfbd arldwlrcm turhucbnkb.

O irlup la kluntrgbs, dlst la tfbd gn Bostbrn Burlpb, mgm bxpbrgbnkbagnonkgoc strbssbs. Zoegston, wfgkf bxpbrgbnkbm vbry tbnsb rbcotglns wgtf gtsnbgifhlrs, onm [rg Coneo, wfgkf wos bnioibm gn o kgvgc wor, ocsl bntbrbmgntl mbht mgstrbss. Occ la tfbsb kluntrgbs wbrb unmbrilgni mldbstgk turhu-cbnkb, wfgkf gs prlhohcy pllrcy bvocuotbm hy stonmorm KZGO dbtflms.

]ohcb ?O.? [lvbrbgin, Kurrbnky, onm Honegni Krgsbs, hy Kluntry,?79:‛8::9

Kluntry Wbor

[lvbrbgin

onm kurrbnkykrgsbs

[lvbrbgin

onm honegnikrgsbs

Kurrbnky

onm honegnikrgsbs

]rgpcbkrgsbs

Ocibrgo ?77=    

Oribntgno ?76?  

8:::    

8::8  

Ordbngo ?77=  

Ozbrhog`on ?77=  

Hbcorus ?77=  

Hlcgvgo ?76:    

Onnbx

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tfb slvbrbgin mbht krgsgs tfot wos nlt ;;

Hrozgc ?76;    

?776    

Huciorgo ?771  

Kodbrlln ?769  

?77=  

Kbntroc

OargkonXbpuhcgk ?77=  

Kfgcb ?768  

?76;    

Klnil,Mbd. Xbp. la ?791  

 

?76;  

?77=  

Klsto Xgko ?76?    

MldgngkonXbpuhcgk 8::;  

8::=    

Bkuomlr ?768  

?76;    

?777  

8:::    Biypt, Oroh

Xbp. la ?797  

Bc [ocvomlr ?77:  

Iodhgo, ]fb 8::;    

Iblrigo ?778  

Ifono ?76;  

8::?  

]ohcb ?O.? (klntgnubm)

Kluntry Wbor

[lvbrbgin

onm kurrbnkykrgsbs

[lvbrbgin

onm honegnikrgsbs

Kurrbnky

onm honegnikrgsbs

]rgpcbkrgsbs

(klntgnubm nbxt poib)

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tfb slvbrbgin mbht krgsgs tfot wos nlt ;2

XussgonAbmbrotgln ?776  

[ël ]ldç onmZrgnkgpb ?761  

?778  

[gbrro Cblnb ?767  

[rg Coneo ?799  

]fogconm ?779  

?776  

]lil ?77=  

]ungsgo ?77?  

]ureby ?796    

?772    

8::: 

8::?

Rerognb ?776

Rruiuoy ?76;    

8::8  

Qbnbzubco,X. H. mb ?762    

?77:    

?77=

Qgbtnod ?766    

Wbdbn,Xbp. la ?772

Podhgo ?771

Pgdhohwb ?76;    

[lurkb0 Outflrs.

]ohcb ?O.? (klntgnubm)

Kluntry Wbor

[lvbrbgin

onm kurrbnkykrgsbs

[lvbrbgin

onm honegnikrgsbs

Kurrbnky

onm honegnikrgsbs

]rgpcbkrgsbs

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;1  klfbn onm vocomgbr

]ohcb ?O.8 Mbaouct Bvbnts onm [lurkbs la Xgse, hy Kluntry,?79:‛8::9

Kluntry WborMbaouct

 prlhohgcgtyXgsekcoss z

Mbhtaoktlr

Kluntryaoktlr

Ylrcmsflkeaoktlr

Oribntgno ?76; :.?6 B ‛?.2: ?.;7 ‛2.?: ?.2:

8::: :.?8 B ‛8.:; ?.62 ‛1.:; ?.=;

Honicombsf ?76? :.?= B ‛?.6: ‛:.:6 ‛;.9; ?.;:

Hbngn ?76; :.?: M ‛8.?= ‛:.;= ‛=.:; ?.2:

8::: :.:7 M ‛8.;? :.?6 ‛=.1= ?.=;

Hlcgvgo ?76: :.;6 B ‛:.2? ?.96 ‛=.;6 ?.;98::= :.?: M ‛8.?9 :.6= ‛2.:; ?.;:

Hrozgc ?76; :.87 B ‛:.67 8.:: ‛2.?: ?.2:

?776 :.:7 M ‛8.89 :.61 ‛2.:2 ?.8:

Huregno Aosl ?769 :.?2 B ‛?.98 ‛:.?6 ‛;.1: ?.;=

Hurunmg ?776 :.1? B :.== 8.89 ‛;.9= ?.8:

Kodbrlln ?769 :.?; B ‛?.66 :.17 ‛=.18 ?.;=

8::2 :.:1 K ‛8.91 :.=? ‛=.79 ?.:6Kopb Qbrmb ?766 :.:1 K ‛8.17 ‛:.:= ‛=.26 ?.8?

Kfgcb ?76; :.89 B ‛:.79 8.?9 ‛2.;1 ?.2:

Kldlrls ?769 :.;: B ‛:.62 :.=; ‛;.;= ?.;=

Klnil,Xbp. la ?761 :.;= B ‛:.11 ?.:? ‛=.:2 ?.11

Klsto Xgko ?76? :.:9 K ‛8.27 ?.:= ‛2.1= ?.;:

Kýtb m‗Gvlgrb ?76? :.:6 M ‛8.=7 :.=2 ‛=.71 ?.;:

M`ghlutg ?77= :.:9 K ‛8.1; ‛:.?2 ‛=.?; :.7=

Mldgngko 8::2 :.:= H ‛;.?? :.=6 ‛2.=: ?.:6

MldgngkonXbpuhcgk ?76; :.?9 B ‛?.29 :.;? ‛=.?: ?.2:

Bkuomlr ?76; :.;? B ‛:.68 ?.28 ‛=.21 ?.2:

8::: :.?6 B ‛?.2: :.71 ‛=.1? ?.=;

Biypt. OrohXbp. la ?76= :.?8 B ‛?.77 :.9; ‛=.2: ?.:1

Bc [ocvomlr ?77: :.?; B ‛?.66 :.;: ‛=.:? ?.??

Btfglpgo ?77? :.=6 B ‛:.:9 ?.=? ‛;.;7 ?.?7

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tfb slvbrbgin mbht krgsgs tfot wos nlt ;9 

Iodhgo, ]fb ?768 :.?= B ‛?.6; ‛:.:2 ‛=.;7 ?.7:

Ifono ?76; :.?= B ‛?.97 :.:; ‛=.:= ?.2:

?771 :.?: M ‛8.?7 :.7; ‛=.68 :.76

8::? :.?= B ‛?.96 :.29 ‛=.61 ?.97

Irbnomo ?76? :.:= H ‛;.?: ‛:.28 ‛=.1: ?.;:

?762 :.?: M ‛8.8= :.?1 ‛=.=: ?.86

Iuotbdoco ?761 :.?2 B ‛?.9? :.?; ‛=.8; ?.11

Iugnbo-Hgssou 8::2 :.89 B ‛:.79 ?.8= ‛=.:? ?.:6

Fogtg ?761 :.?: M ‛8.?2 ‛:.?9 ‛=.;9 ?.11

Flnmuros ?797 :.:9 K ‛8.1= :.87 ‛=.=8 :.99

8::= :.:2 K ‛8.79 :.:7 ‛2.:6 ?.;:

Gnmgo ?768 :.:6 M ‛8.== ‛:.99 ‛=.87 ?.7:

Gnmlnbsgo ?779 :.:1 K ‛8.9? :.7; ‛2.86 :.7;

 @lrmon ?767 :.:= H ‛;.8: :.7? ‛2.69 ?.:;

Eozoefston ?776 :.:8 O ‛=.:1 ‛:.62 ‛2.?8 ?.8:

Ebnyo ?76: :.:6 M ‛8.=2 :.:6 ‛=.18 ?.;9

?778 :.?6 B ‛?.=7 ?.87 ‛=.9? ?.8:

8::: :.?? M ‛8.?: :.?= ‛=.=: ?.=;

8::= :.:7 M ‛8.;= :.8; ‛=.27 ?.;:

Eyriyz

Xbpuhcgk 8::8 :.81 B ‛?.:2 ?.;: ‛2.:8 ?.72Dokbmlngo,

AWX 8::: :.:= H ‛;.87 ‛:.:2 ‛2.;7 ?.=;

Domoioskor ?76? :.?? M ‛8.?8 ‛:.=9 ‛;.11 ?.;:

Docowg ?76: :.?= B ‛?.6; :.2; ‛=.=2 ?.;9

8::? :.8; B ‛?.8; :.96 ‛=.28 ?.97

Dourgtongo ?76: :.;: B ‛:.62 :.96 ‛;.98 ?.;9

?76= :.8; B ‛?.88 :.72 ‛;.7= ?.:1

Dourgtgus ?762 :.:= H ‛;.?8 :.27 ‛2.9? ?.86

]ohcb ?O.8 (klntgnubm)

Kluntry WborMbaouct

 prlhohgcgtyXgsekcoss z

Mbhtaoktlr

Kluntryaoktlr

Ylrcm

sflkeaoktlr

(klntgnubm nbxt poib)

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;6  klfbn onm vocomgbr

Dbxgkl ?76; :.?9 B ‛?.29 ?.88 ‛2.:? ?.2:

Dlcmlvo 8::; :.?1 B ‛?.18 :.92 ‛=.99 ?.16

Dlrlkkl ?76: :.?; B ‛?.66 :.21 ‛=.2; ?.;9

Ngkoroiuo ?797 :.:1 K ‛8.9? :.86 ‛=.=7 :.99

?76; :.86 B ‛:.7= ?.2? ‛=.16 ?.2:

Ngibr ?76; :.81 B ‛?.:1 :.62 ‛=.?; ?.2:

Ngibrgo ?761 :.;7 B ‛:.== ?.:1 ‛;.69 ?.11

Zoegston ?76? :.8: B ‛?.=: :.88 ‛;.1= ?.;:

?777 :.?9 B ‛?.18 :.76 ‛=.16 ?.;1

Zonodo ?762 :.:; H ‛;.=6 :.8: ‛2.16 ?.86

Zbru ?76; :.88 B ‛?.81 ?.99 ‛2.8= ?.2:

Zfgcgppgnbs ?76= :.?9 B ‛?.18 ?.=1 ‛=.61 ?.:1

Xldongo ?77? :.:= H ‛;.?8 ‛?.8= ‛;.97 ?.?7

Xwonmo ?77= :.:6 M ‛8.=7 :.;? ‛=.=1 :.7=

[bnbioc ?76: :.?: M ‛8.?6 :.:2 ‛=.;? ?.;9

[bykfbccbs ?77: :.:9 M ‛8.2= :.:6 ‛=.=2 ?.??

[lcldlnGsconms ?772 :.:1 K ‛8.9: ‛:.?: ‛=.;? ?.::

8::8 :.?; B ‛?.7: ‛:.:1 ‛=.2: ?.72

[ldocgo ?76? :.?; B ‛?.7; :.:9 ‛=.:8 ?.;:

[rg Coneo 8::2 :.:8 O ‛;.9= ‛:.:8 ‛2.28 ?.:6[wozgconm 8::2 :.:8 O ‛=.?1 ‛:.96 ‛2.?6 ?.:6

]fogconm ?76? :.:= K ‛;.:6 :.:; ‛2.?; ?.;:

?779 :.:8 O ‛;.77 :.?7 ‛2.68 :.7;

]lil 8::: :.?8 B ‛8.:: :.81 ‛=.=? ?.=;

]lnio 8::; :.:1 K ‛8.6: ‛:.87 ‛=.78 ?.16

]ungsgo ?769 :.:1 K ‛8.19 :.9: ‛2.=; ?.;=

?77? :.:1 K ‛8.92 :.17 ‛2.;= ?.?7

]ohcb ?O.8 (klntgnubm)

Kluntry WborMbaouct

 prlhohgcgtyXgsekcoss z

Mbhtaoktlr

Kluntryaoktlr

Ylrcm

sflkeaoktlr

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tfb slvbrbgin mbht krgsgs tfot wos nlt ;7

]ureby ?772 :.:1 K ‛8.9= :.== ‛=.67 ?.::

8::: :.:2 K ‛8.61 :.=8 ‛2.=8 ?.=;

Rionmo ?761 :.?7 B ‛?.=; :.21 ‛=.;9 ?.11

Rruiuoy ?76; :.:; H ‛;.=; ‛:.8? ‛2.=; ?.2:

?776 :.:; H ‛;.=? ‛:.:= ‛2.87 ?.8:

8::8 :.:1 K ‛8.19 :.1; ‛2.71 ?.72

Pgdhohwb ?76; :.:= H ‛;.?7 ‛:.98 ‛=.17 ?.2:

[lurkb0 Outflrs.

]ohcb ?O.8 (klntgnubm)

Kluntry WborMbaouct

 prlhohgcgtyXgsekcoss z

Mbhtaoktlr

Kluntryaoktlr

Ylrcm

sflkeaoktlr

]ohcb ?O.; Xgse Kcossgagkotgln la Kluntrgbs, 8::7 onm 8:?:

Kluntry

Ylrcm sflkeaoktlr sbt ot8::7 cbvbc 

Ylrcm sflkeaoktlr sbt ot8:?: cbvbc 

Ochongo K H

Onilcoo M K

Oribntgno M H

Ordbngo H O

Ozbrhog`on O O

Honicombsf M H

Hbcoruso K O

Hbcgzb B BHbngn M H

Hlcgvgo M K

Hlsngo onm Fbrzbilvgnoo M H

Hltswono O O

Hrozgc M H

Huciorgo M H

Huregno Aosl B KHurunmgo B B

(klntgnubm nbxt poib)

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=:  klfbn onm vocomgbr

Kodhlmgo M K

Kodbrlln M H

Kopb Qbrmb K O

Kfgcb O O

Kfgno H O

Klcldhgo M H

Klnil, Xbp. la o B K

Klsto Xgko H O

Kýtb m‗Gvlgrb B M

Krlotgo B K

M`ghlutgo B K

Mldgngko B K

Mldgngkon Xbpuhcgko

K HBkuomlr B K

Biypt, Oroh Xbp. la K H

Bc [ocvomlr K H

Brgtrbo B B

Btfglpgo M H

Ag`g H O

Iohln M H

Iodhgo, ]fbo B B

Iblrigoo H O

Ifono M H

Irbnomoo M H

Iuotbdoco K O

Iugnboo B M

Iugnbo-Hgssou B B

Iuyono B K

]ohcb ?O.; (klntgnubm) 

Kluntry

Ylrcm sflke

aoktlr sbt ot8::7 cbvbc 

Ylrcm sflke

aoktlr sbt ot8:?: cbvbc 

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tfb slvbrbgin mbht krgsgs tfot wos nlt =?

Fogtg B K

Flnmuros K H

Gnmgo K H

Gnmlnbsgo M H

Gron, Gscodgk Xbp. la H O

 @odogko B K

 @lrmon M H

Eozoefston B B

Ebnyo M H

Eyriyz Xbpuhcgk B K

Col ZMX B B

Cotvgo B B

Cbhonln B MCbsltfl B K

Cghbrgoo B B

Dokbmlngo, AWX M K

Domoioskor M K

Docowg B K

Docoysgo O O

Docmgvbso M HDocg M K

Dourgtongo B B

Dourgtgus H O

Dbxgkl H O

Dlcmlvo B K

Dlnilcgoo M H

Dlrlkkl M H

Dlzodhgqub M H

]ohcb ?O.; (klntgnubm) 

Kluntry

Ylrcm sflke

aoktlr sbt ot8::7 cbvbc 

Ylrcm sflke

aoktlr sbt ot8:?: cbvbc 

(klntgnubm nbxt poib)

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=8  klfbn onm vocomgbr

Nbpoc M K

Ngkoroiuo B K

Ngibr B B

Ngibrgo H O

Zoegstono M H

Zonodo K H

Zopuo Nbw Iugnbo B K

Zoroiuoy M H

Zbru M H

Zfgcgppgnbs M K

Zlconm M H

Xldongo M H

Xussgon Abmbrotgln K OXwonmo M H

[odlo B B

[ël ]ldç onm Zrgnkgpbo B B

[bnbioc M H

[bykfbccbso B B

[gbrro Cblnbo M H

[lcldln Gsconms B M[lutf Oargko O O

[rg Coneoo M H

[t. Egtts onm Nbvgs M H

[t. Cukgo K O

[t. Qgnkbnt onm tfb Irbnomgnbs M H

[umono B M

[wozgconm K O

]o`gegston M H

]ohcb ?O.; (klntgnubm) 

Kluntry

Ylrcm sflke

aoktlr sbt ot8::7 cbvbc 

Ylrcm sflke

aoktlr sbt ot8:?: cbvbc 

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==  klfbn onm vocomgbr

Erooy, O., onm Q. Nbfru. 8::=. –Yfbn Gs Bxtbrnoc Mbht [ustognohcb<— Ylrcm HoneZlcgky Xbsborkf Ylregni Zopbr ;8::, Yosfgnitln, MK.

Cobvbn, C., onm A. Qocbnkgo. 8::6. –[ystbdgk Honegni Krgsbs0 O Nbw Motohosb.—

GDA Ylregni Zopbr :6/88=, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.Xbgnfort, K., E. Xlilaa, onm D. [ovostonl. 8::;. –Mbht Gntlcbronkb.— NHBX Ylre-

gni Zopbr 77:6, Notglnoc Hurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

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=1  honmgbro, krbspl kuorbsdo, onm vgnkbcbttb

orb rlhust tl dlmbc unkbrtognty usgni Hoybsgon dlmbc ovbroigni (HDO)tbkfngqubs.

Rsgni HDO tbkfngqubs, tfgs kfoptbr suiibsts tfot tfb cbvbc la gnmbht-

bmnbss wgtf rbspbkt tl ovogcohcb rbsbrvbs gs tfb hbst prbmgktlr la mbaouctbpgslmbs alr tfb bntgrb sodpcb la =1 bdbrigni dorebt kluntrgbs.? Flwbvbr,kluntrgbs wgtf fgif cbvbcs la mbht (mbagnbm os tltoc bxtbrnoc mbht tfot bxkbbms2: pbrkbnt la IMZ, tfb dbmgon la tfb sodpcb) rbmukb tfbgr prlhohgcgty lambaouct hy dogntogngni o stohcb dokrlbklnldgk bnvgrlndbnt (prlxgbm hyclw gnacotgln rotbs). Kluntrgbs wgtf clw cbvbcs la mbht fovb o clwbr unkln-mgtglnoc prlhohgcgty tl mbaouct tfon kluntrgbs wgtf fgif cbvbcs la mbht. Clw-mbht kluntrgbs aurtfbr rbmukb tfbgr mbaouct prlhohgcgty hy gdprlvgni tfbgrgnstgtutglnoc bnvgrlndbnt onm tfb quocgty la tfbgr plcgkgbs.

Dlmbc-ovbroibm bstgdotbs lutpbralrd ony ltfbr dlmbc gn prbmgktgnilut-la-sodpcb slvbrbgin mbaouct bpgslmbs. ]fbsb rbsucts orb klnsgstbnt wgtftfb rbkbnt cgtbroturb ln mbaouct bpgslmbs, wfgkf sflws tfot o cgdgtbm nud-hbr la dokrlbklnldgk vorgohcbs orb suaagkgbnt tl prbmgkt rboslnohcy wbccbpgslmbs la mbaouct, tfot gnmbhtbmnbss onm gnacotgln orb tfb dlst gdplrtontprbmgktlrs la mbaouct bpgslmbs, onm tfot tfb rbkurrbnkb la mbaouct bpgslmbsklucm hb tfb sydptld la dlrb mbbpcy rlltbm kluntry kforoktbrgstgks, sukfos tfb quocgty la tfbgr plcgkgbs onm gnstgtutglns. ]fb rbsucts prbsbntbm fbrbagnm tfot alr bdbrigni dorebt kluntrgbs wgtf fgif tltoc irlss bxtbrnocmbht, dokrlbklnldgk stohgcgty hbkldbs eby tl mbht sustognohgcgty (sbb ocsl Xbgnform onm Xlilaa 8:?:).

]fb kfoptbr gs strukturbm os alcclws. ]fb nbxt sbktgln rbvgbws ebyagnmgnis gn tfb cgtbroturb ln tfb mbtbrdgnonts la slvbrbgin mbaoucts. ]fbalcclwgni sbktgln prbsbnts tfb moto sbt alr =1 bdbrigni dorebt kluntrgbs,os wbcc os stycgzbm bdpgrgkoc aokts rbcotbm tl mbht mbaouct. ]fb tfgrm sbktglngslcotbs rlhust mbtbrdgnonts la mbaouct bpgslmbs odlni vorgohcbs rbprb-sbntgni dokrlbklnldgk aunmodbntocs, cgqugmgty onm slcvbnky rgses, onmtfb quocgty la plcgkgbs onm gnstgtutglns. ]fb cost sbktgln mrows klnkcusglnsonm prbsbnts plcgky rbklddbnmotglns.

Bdpgrgkoc Mbtbrdgnonts la [lvbrbgin Mbaouct

Dlst bdpgrgkoc dlmbcs la slvbrbgin mbaouct stort hy gmbntgaygni slvbrbginmbaoucts hosbm ln sldb mbagngtgln (wfgkf gs nlt nbkbssorgcy klnsgstbntokrlss stumgbs) onm hugcm hgnory mbpbnmbnt vorgohcb dlmbcs (ibnbroccycligt lr prlhgt dlmbcs) tl ossbss tfb stotgstgkoc sgingagkonkb la mgaabrbntpltbntgoc mbtbrdgnonts la mbht krgsbs. Octfluif mgaabrbnkbs gn tfb kflgkb

la bxpconotlry vorgohcbs orb wgmb, gn ibnbroc bdpgrgkoc slvbrbgin mbaouctdlmbcs tbnm tl gnkcumb mbtbrdgnonts tfot kon hb kcustbrbm gntl mgaabrbntg-otbm irlups (tohcb 8.?).

Kluntry-spbkgagk dokrlbklnldgk aunmodbntocs dgrrlrgni tfb baabktgvb-nbss la bklnldgk plcgky onm mbvbclpdbnts gn tfb rboc bklnldy tbnm tl

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mbtbrdgnonts onm rgses la slvbrbgin mbaouct =7

hb gnkcumbm os pltbntgoc mbtbrdgnonts la tfb prlhohgcgty la mbaouct. ]fbsbvorgohcbs gnkcumb IMZ irlwtf, kurrbnt okklunt mbvbclpdbnts, agskoc onmdlnbtory plcgky vorgohcbs, onm dbosurbs la rboc bxkfonib rotb dgsocgin-

dbnt. Dbosurbs la tfb quocgty la kluntrgbs‗ plcgkgbs onm gnstgtutglns orbocsl wgmbcy usbm tl ossbss tfb baabkts la slat aoktlrs, sukf os gnstgtutglns,klrruptgln, onm ilvbrnonkb, tfot orb nlt mgrbktcy kopturbm hy dokrlbkl-nldgk vorgohcbs.

Gn ommgtgln, dbosurbs la bxtbrnoc slcvbnky onm cgqugmgty, wfgkf prlxy okluntry‗s rbpoydbnt kopohgcgty, orb systbdotgkoccy gnkcumbm. Odlni tfbsbklvorgotbs, tfb bxtbnt onm kldplsgtgln la bxtbrnoc mbht pcoy o prgvgcbibmrlcb os on bxpconotlry vorgohcb.

Bxtbrnoc sflkes orb ocsl rbprbsbntbm gn tfb sbt la mbtbrdgnonts hy sukf

vorgohcbs os tfb R.[. rboc gntbrbst rotb. ]fb baabkt la bxtbrnoc mbvbclpdbntsln kluntry-spbkgagk mbaouct prlhohgcgtgbs kon hb tfluift la os dbmgotbm hytfb mbirbb la bxtbrnoc bxplsurb la o igvbn bklnldy, wfgkf `ustgagbs tfbgnkcusgln la tromb onm agnonkgoc lpbnnbss dbosurbs gn mbht mbaouct dlmbcs.

]fb rlhustnbss onocysgs prbsbntbm fbrb usbs rbprbsbntotgvb vorgohcbsla bokf la tfbsb irlups gn lrmbr tl bvocuotb tfbgr rbcotgvb gdplrtonkbgn tfb arodbwlre la dlmbc unkbrtognty. ]fb onocysgs ocsl gnkcumbs mbhtdonoibdbnt vorgohcbs, tl okklunt alr tfb gdplrtonkb la tfb strukturb onmkforoktbrgstgks la tfb bxgstgni bxtbrnoc mbht plrtalcgl onm tfb tbrds la nbwhlrrlwgni tl bstgdotb mbaouct prlhohgcgtgbs. ]fbsb vorgohcbs gnkcumb tfbbaabktgvb gntbrbst rotb onm tfb ovbroib tgdb tl doturgty la tfb plrtalcgl,hltf mbagnbm hbclw.

Moto onm [tycgzbm Aokts

]fb motohosb usbm fbrb dgrrlrs o corib suhsbt la tfb vorgohcbs gn Donossb,Xluhgng, onm [kfgddbcpabnngi (8::;) onm Aglrodontg (8::6).8 Gt klntognsonnuoc gnalrdotgln ln ?1 vorgohcbs, wfgkf klvbr rbprbsbntotgvb rbirbsslrs

arld tfb tfbdotgk irlups mbagnbm ohlvb (tohcb 8.8). Yb klnstrukt on unhoc-onkbm ponbc la =1 bdbrigni dorebt kluntrgbs alr tfb pbrglm ?76:‛8::=.

]fb mbpbnmbnt vorgohcb gs o hgnory vorgohcb toegni o vocub la lnb ga okluntry gs mbagnbm tl hb gn mbaouct gn o igvbn ybor. O kluntry gs mbagnbm tlhb gn o mbht krgsgs gn o igvbn ybor ga gt gs kcossgagbm hy [tonmorm & Zllr‗sos hbgni gn mbaouct lr ga gt rbkbgvbs o corib nlnklnkbssglnoc GntbrnotglnocDlnbtory Aunm (GDA) clon (mbagnbm os gn bxkbss la ?:: pbrkbnt la tfbkluntry‗s GDA qulto). ]fb mbaouct bpgslmbs orb cgstbm gn [tonmorm & Zllr‗s(8::=)5 nlnklnkbssglnoc clons orb mrown arld tfb GDA‗s Gntbrnotglnoc

Agnonkgoc [totgstgks motohosb. ]fb mbagngtgln la o kluntry gn mbaouct usbmfbrb klrrbsplnms tl tfb krgtbrgln usbm gn Donossb, Xluhgng, onm [kfgd-dbcpabnngi (8::;) tl gmbntgay mbht krgsbs.

]fb rbirbsslr sgmb gnkcumbs prlxgbs alr tfb dlst gdplrtont mbtbrdgnontsla slvbrbgin mbaoucts klnsgmbrbm gn tfb cgtbroturb, os kgtbm gn tohcb 8.?. Moto

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 2   :  

]ohcb 8.8 Mbskrgptgvb [totgstgks(pbrkbnt, bxkbpt wfbrb ltfbrwgsb gnmgkotbm)

Qorgohcb

  Aucc sodpcb Bxtbrnoc mbht/irlss notglnoc gnkldb 3 :.2

Dbon Dbmgon Doxgdud Dgngdud [tm. Mbv. Dbon Dbmgon Doxgdud Dgngdud [tm. Mbv.

[lvbrbgin mbaouct :.=6 :.:: ?.:: :.:: :.2: :.;1 :.:: ?.:: :.:: :.=6

KZGO (gnmbx) ;.6: ;.96 1.:: 8.:2 :.98 ;.69 ;.6: 1.:: 8.?? :.9?

Kurrbnt okklunt

os pbrkbntoib la

alrbgin mgrbktgnvbstdbnt ‛;11.?= ‛??9.6: ;?,1?=.87 ‛;=,99?.87 ;,877.97 ‛;9;.9= ‛??2.=: ;?,1?=.87 ‛;=,266.82 ;,892.7;

Kurrbnt okklunt os

pbrkbntoib la irlss

notglnoc gnkldb ‛8.?7 ‛8.;6 ?6.28 ‛?9.=7 =.9? ‛?.61 ‛8.:= 7.69 ‛?:.8? ;.8=

Kurrbnt okklunt

os pbrkbntoib la

rbsbrvbs ‛;=.19 ‛81.=9 776.76 ‛2;:.8: 7=.=2 ‛;8.;9 ‛8=.=? ?2?.18 ‛=1:.=7 1:.92

Baabktgvb gntbrbst rotb 2.=; 2.:= 8?.?7 :.:7 8.;= 2.1= 2.;; ?;.== 8.?? ?.72

Ovbroib doturgty

(ybors) ?1.11 ?2.2: ;62.=: :.:: ?9.9; ?1.;9 ?;.2: ;62.=: :.:: 82.:9

Bxtbrnoc mbht os

pbrkbntoib la irlss

notglnoc gnkldb 26.== 2?.;8 82;.8? =.?; ;1.82 ;?.87 ;?.61 =7.68 =.?; ?:.79

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 2  ?  

Bxtbrnoc mbht os

pbrkbntoib la

rbsbrvbs 977.21 2?;.88 6,;77.68 ==.97 718.:6 =2:.:7 ;88.6; 8,86?.=; ==.97 ;9:.82

IMZ irlwtf ;.=6 =.:: ?1.?: ‛?;.=: =.=9 =.:1 =.;: ?2.8: ‛?8.7: =.81

Gnacotgln rotb 2?.7; 7.;: ??,9=7.1: ‛;:.;: 2;6.9: ;7.;? ?:.7: 8,:92.6: ‛?.=: ?6;.26

Lpbnnbss (bxplrts +

gdplrts gn % la

IMZ)

99.7= 1=.;6 =;1.2? ?2.=9 2:.9: 26.7: 28.61 8?8.:6 ?2.=9 ;?.2;

Lvbrvocuotgln

(mbvgotgln arld

rboc bxkfonib

trbnm)

=?.8? =:.;2 72.:: :.:: ?9.86 =?.6: ;7.16 72.:: ?2.?6 ?1.=7

Zrgdory mbagkgt os

pbrkbntoib la irlss

notglnoc gnkldb :.2= :.8; 8?.9: ‛8:.:8 =.=1 ‛:.:2 ‛:.:6 9.9? ‛?:.2= 8.67

[flrt-tbrd mbht

os pbrkbntoib la

rbsbrvbs ??=.=: 1=.66 8,;77.6; :.7= ?77.:6 9:.=9 =1.16 1?:.=9 :.7= 9=.;:

[flrt-tbrd mbht os

pbrkbntoib la tltoc

bxtbrnoc mbht ?2.:8 ?8.72 12.:1 :.6; ?:.?; ?1.96 ?2.=: 12.:1 ?.1? ?:.1;

R.[. ]rbosury Hgcc rotb 2.;9 2.:9 ?=.:6 ?.1? 8.?7 2.8? 2.:8 ?=.:6 ?.1? 8.?1

Nudhbr la

lhsbrvotglns/ kluntrgbs 2:;/=1 81?/;7

[lurkb0 Outflrs.

Nltb0 KZGO 4 Kluntry Zlcgky onm Gnstgtutglnoc Ossbssdbnt (Ylrcm Hone).

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mbtbrdgnonts onm rgses la slvbrbgin mbaouct 2;

onm Xldongo gn 8::8, wgtf on ovbroib doturgty la ;62 ybors) mgstlrt tfgssuhsodpcb. Kluntrgbs wgtf clwbr cbvbcs la bxtbrnoc mbht ml tbnm tl fovbcoribr sforbs la sflrt-tbrd mbht, suiibstgni tfot tfby orb dlrb bxplsbm tl

rlcclvbr rgse hut ocsl dlrb kopohcb la rlccgni lvbr o coribr plrtgln la mbhttfon kluntrgbs wgtf fgifbr cbvbcs la bxtbrnoc mbht. ]l o kbrtogn mbirbb,tfb doturgty strukturb la bxtbrnoc mbht gs bnmlibnlus, os fgif-mbht klun-trgbs wgtf o fgifbr mbaouct prlhohgcgty doy agnm tfbdsbcvbs bxkcumbm arldsflrt-tbrd hlrrlwgni dorebts.

Rnvbgcgni tfb Xlhust Mbtbrdgnonts la Mbht Mbaouctunmbr Dlmbc Rnkbrtognty

]fb mbskrgptgvb stotgstgks gn tohcb 8.8 pognt o kcbor pgkturb la tfb mgaabrbntgockforoktbrgstgks la mbaouctgni kluntrgbs. O aucc-acbmibm bklnldbtrgk onocysgsgs nbbmbm tl gmbntgay rlhust prbmgktlrs la slvbrbgin mbaouct rgse.

Ossbssgni Dlmbc Rnkbrtognty

]fb usuoc bklnldbtrgk opprlokf usbm tl ossbss mbaouct mbtbrdgnonts gs tlstort hy mbagngni o hgnory vorgohcb (y) tfot toebs tfb vocub la ? ot mbaouctpbrglms (y  ?) onm : gn tfb rbst la tfb sodpcb (y  :). Ossudb tfot tfbrb gso sbt la vorgohcbs  V   {x

?, . . ., x

e} tfot kldprgsbs E vorgohcbs tfot fovb hbbn

prlplsbm os pltbntgoc bxpconotlry aoktlrs alr trgiibrgni mbht mbaouct. Gnprgnkgpcb, ony kldhgnotgln la tfbsb vorgohcbs doy hb klnsgmbrbm os rbirbs-slrs gn o dlmbc. Cbt  V 

e mbnltb o irlup la e E vorgohcbs arld tfb sbt V. O

typgkoc dlmbc bxpcogngni mbaouct wgtf tfgs irlup la klvorgotbs gs igvbn hy

Z(y  ?Ve)  A (V

e h  ),  (8.?)

wfbrb A (z) wgcc typgkoccy hb o cligstgk aunktgln (? ‛ A (z) (? + bz)‛?), cbomgni

tl o cligt dlmbc, lr tfb Ioussgon mgstrghutgln aunktgln (A (z) Ρ(z)), cbomgnitl o prlhgt dlmbc. Lnkb A (z) fos hbbn kflsbn, o dlmbc gs mbagnbm hy o cgstla gnkcumbm vorgohcbs. ]fus, 8E plssghcb dlmbcs kon hb klnsgmbrbm (bokfdlmbc gs mbnltbm os D

 `, alr `  ?. . .8E). HDO bstgdotbs la o porodbtbr la

gntbrbst gn tfgs sbttgni kon hb lhtognbm hy wbgiftgni bokf (dlmbc-spbkgagk)bstgdotb la tfb porodbtbr wgtf tfb plstbrglr prlhohgcgty la tfb dlmbc gtkldbs arld onm suddgni lvbr tfb wflcb dlmbc spokb, wfgkf kldprgsbsocc 8E spbkgagkotglns0

Z Z Z( | ) 4 ( | , ) ( | ).4?

8

θ θ s

d

E

s d dy y D D y∟   (8.8)

]fb plstbrglr dlmbc prlhohgcgty gs o aunktgln la tfb prglr prlhohgcgty latfb dlmbc onm gts dorignoc cgebcgfllm, sl tfot Z(D

e | y) ∔ Z(y | D

e)Z(D

e). O

kflgkb nbbms tl hb domb ln tfb prglr prlhohgcgty lvbr tfb dlmbc spokb, os

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mbtbrdgnonts onm rgses la slvbrbgin mbaouct 22

dbtflm (Domgion onm Wlre ?772) tl kldputb tfb plstbrglr prlhohgcgtyla tfb mgaabrbnt dlmbc spbkgagkotglns gn lur dlmbc spokb.2 Occ vorgohcbsorb coiibm lnb ybor, gn lrmbr tl gdplsb o kousoc strukturb gn tfb dlmbcs

onm ovlgm, tl o kbrtogn bxtbnt, bnmlibnbgty prlhcbds. ]fb rbsucts sflwtfb plstbrglr gnkcusgln prlhohgcgty (ZGZ) alr bokf vorgohcb5 tfb rotgl latfb plstbrglr dbon tl tfb plstbrglr stonmorm mbvgotgln la tfb porodbtbrosslkgotbm wgtf bokf la tfb klvorgotbs (ZD/Z[M, o dbosurb la tfb prbkg-sgln la tfb bstgdotb)5 onm tfb dlmbc-ovbroibm dorignoc baabkt la bokfvorgohcb (tohcb 8.;).

]fb moto sbt gnkcumbs ductgybor pbrglms la mbht-sbrvgkgni mgaagkuctgbs, wfgkfgdpcgbs o fgif mbirbb la pbrsgstbnkb gn tfb mbpbnmbnt vorgohcb. Octfluif bstg-dotbs hosbm ln hgnory mbpbnmbnt vorgohcb dlmbcs wgtf kluntry-agxbm baabkts

orb tfblrbtgkoccy abosghcb gn tfb sbttgni la HDO, tfb kldputotglnoc klstsorb fgif. Alr tfgs rbosln, wb rbtogn tfb pllcbm strukturb la tfb moto onm`lgntcy bxpcogn mgaabrbnkbs okrlss kluntrgbs onm gn tgdb. Os dony la tfbpltbntgoc bxpconotlry vorgohcbs orb ocsl pbrsgstbnt lvbr tgdb, tfb dldbn-tud la mbht sbrvgkb prlhcbds kon hb portcy ossbssbm hy tfb mynodgks laklvorgotbs. Octbrnotgvbcy, tfb moto sbt doy hb klccopsbm os o suddory lasustognbm mbaouct onm nlnmbaouct bpgslmbs, os gn Erooy onm Nbfru (8::1).Oatbr kldprbssgni tfb moto tl sukf bpgslmbs, tfb nudhbr la lhsbrvotglnsgs tll sdocc tl occlw alr o rboslnohcb dlmbc ovbroigni onocysgs0 mbagngnimbht strbss pbrglms os costgni dlrb tfon agvb ybors cboms tl abwbr tfon =:usohcb lhsbrvotglns.

]fb rbsucts prbsbntbm gn tohcb 8.; gnmgkotb tfot alr tfb bntgrb sodpcb, o sgn-icb vorgohcb”tfb sgzb la bxtbrnoc mbht os o pbrkbntoib la rbsbrvbs”okfgbvbshltf o fgif plstbrglr gnkcusgln prlhohgcgty onm o fgif mbirbb la prbkgsglngn tfb bstgdotgln la gts baabkt. ]fb osslkgotbm dlmbc-ovbroibm porodbtbr gsplsgtgvb, os bxpbktbm, gdpcygni tfot okkbss tl cgqugmgty mbkrbosbs tfb prlh-ohgcgty la slvbrbgin mbaouct. Alr occ ltfbr vorgohcbs, tfb ZGZs orb hbclw :.2(tfb hbnkfdore igvbn hy tfb bxpbktbm vocub la tfb prglr gnkcusgln prlh-ohgcgty), tfb prbkgsgln la tfb bstgdotgln gs tll sdocc tl klnsgmbr tfbd rlhust

mbtbrdgnonts la slvbrbgin mbaouct, lr hltf.HDO bstgdotbs alr kluntrgbs wgtf fgif onm clw mbht cbvbcs gn lur sod-

pcb gnmgkotb plssghcb tfrbsflcm baabkts gn tbrds la tfb rlhustnbss la mbaouctmbtbrdgnonts. Alr kluntry/ybors gn tfb clw-mbht suhsodpcb, mbht mbaouctsbpgslmbs orb dlrb cgebcy tfb coribr gs tfb bxtbrnoc mbht os o pbrkbntoib larbsbrvbs onm tfb pllrbr tfb quocgty la plcgkgbs onm gnstgtutglns, os dbo-surbm hy tfb KZGO gnmbx.1 Alr kluntrgbs wgtf fgifbr cbvbcs la mbht, tfbKZGO gnmbx clsbs rlhustnbss os o prbmgktlr la mbaouct gn tbrds la plstbrglrgnkcusgln prlhohgcgty. Alr tfbsb kluntrgbs, gnacotgln onm gnmbhtbmnbss orb

rlhustcy onm plsgtgvbcy osslkgotbm wgtf o fgifbr prlhohgcgty la mbaouct.]fgs rbsuct gs gn cgnb wgtf tfb rbsucts la Xbgnfort, Xlilaa, onm [ovostonl(8::;), wfl ocsl sgnicb lut gnmbhtbmnbss onm dokrlbklnldgk stohgcgty(prlxgbm hy gnacotgln) os tfb dlst sgingagkont mbtbrdgnonts la slvbrbginmbaoucts. Flwbvbr, lur sodpcb sbcbktgln fgifcgifts tfot gnmbhtbmnbss onm

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 2   1  

]ohcb 8.; Dlmbc Ovbroigni Xbsucts

Qorgohcb

Aucc sodpcbBxtbrnoc mbht/irl

notglnoc gnkldb 3

ZGZ ZD/Z[M DBAA ZGZ ZD/Z[M D

Bxtbrnoc mbht os pbrkbntoib la rbsbrvbs ?.:::: 9.9726 :.:::2 ?.:::: 2.:=;? :.

KZGO gnmbx :.8;18 ‛:.2:26 ‛:.:8;8 :.76;6 ‛8.717? ‛:.

IMZ irlwtf :.8;;2 ‛:.2:?6 ‛:.::;2 :.::=; ‛:.:2:? :.

[flrt-tbrd mbht os pbrkbntoib la tltocbxtbrnoc mbht :.:8:2 ‛:.?81; ‛:.:::? :.?1=8 ‛:.;79: ‛:.

Lpbnnbss :.::9? ‛:.:9?= :.:::: :.::?; :.::91 :.

Lvbrvocuotgln :.::2? ‛:.:1:8 :.:::: :.::81 :.::=7 :.

Bxtbrnoc mbht os pbrkbntoib la irlssnotglnoc gnkldb :.::=: :.:=29 :.:::: :.:28: ‛:.8:7? ‛:.

Gnacotgln rotb :.::;9 :.:=22 :.:::: :.:::6 :.::69 :.

Baabktgvb gntbrbst rotb :.::;1 ‛:.:2:: ‛:.::9? :.::?6 ‛:.:?62 :.

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[flrt-tbrd mbht os pbrkbntoib larbsbrvbs :.::;2 ‛:.:=8= :.:::: :.:2;7 ‛:.8??6 ‛:.

R.[. ]rbosury Hgcc rotb :.::8; :.:86: :.:::: :.::?1 ‛:.::=; :.

Kurrbnt okklunt os pbrkbntoib larbsbrvbs :.::?; ‛:.:?1; :.:::: :.::?8 ‛:.:81; :.

Zrgdory mbagkgt :.::?8 :.:?6; :.:::: :.:27; ‛:.88;; ‛:.

Kurrbnt okklunt os pbrkbntoib laalrbgin mgrbkt gnvbstdbnt :.::?? ‛:.:?7: :.:::: :.?92? ‛:.=?22 :.

Kurrbnt okklunt os pbrkbntoib lairlss notglnoc gnkldb :.::?: :.:?79 :.:::: :.::?6 :.:877 :.

Baabktgvb doturgty :.:::1 :.:?;9 :.:::: :.:::7 :.:?;? :.

[lurkb0 Outflrs.

Nltb0 KZGO 4 Kluntry Zlcgky onm Gnstgtutglnoc Ossbssdbnt (Ylrcm Hone)5 DBAA 4 dlmbc-ovbroibm dori

prlhohgcgty5 ZD 4 plstbrglr dbon (dbon la tfb plstbrglr mgstrghutgln la tfb klrrbsplnmgni porodbtbr)5 Z[M 4

mbvgotgln la tfb plstbrglr mgstrghutgln la tfb klrrbsplnmgni porodbtbr). Qorgohcbs wbrb lrmbrbm hy ZGZ gn tf

?:,::: rbpcgkotglns la tfb DK; prlkbmurb oatbr o hurn-gn pfosb la ?:,::: rbpcgkotglns.

 2   9  

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26  honmgbro, krbspl kuorbsdo, onm vgnkbcbttb

gnacotgln orb systbdotgkoccy rbcbvont lncy alr tfb suhsodpcb la kluntrgbskforoktbrgzbm hy o rbcotgvbcy fgif cbvbc la mbht. Gn kluntrgbs wgtf clwbrmbht cbvbcs, klnkbntrotgni ln gdprlvbdbnts gn quocgty la plcgkgbs onm gnstg-

tutglns gs dlrb rbcbvont tl ovlgm mbaoucts. Clw-mbht kluntrgbs fovb clwbrgnacotgln ln ovbroib, wfgkf krbotbs o clwbr cbvbc la mgspbrsgln.

Gn o irlup la kluntrgbs wflsb dokrlbklnldgk vorgohcbs orb dlrb sto-hcb, slat aoktlrs rbcotbm tl tfb gnstgtutglnoc arodbwlre hbkldb rbcbvont osprbmgktlrs gn bpgslmbs la mbaouct. ]fb mbht donoibdbnt vorgohcbs gntrl-mukbm, wfgkf prlxy alr mbht klsts onm rlcclvbr rgse la tfb plrtalcgl, orbnlt rlhustcy osslkgotbm wgtf tfb prlhohgcgty la mbaouct.

[bvbroc rlhustnbss kfbkes wbrb run tl bnsurb tfot tfb rbsucts flcm wfbnlutcgbrs orb bxkcumbm onm rbmukbm sbts la klvorgotbs orb usbm.9 Bxkcumgni

tfb twl lhsbrvotglns wgtf lutcygni vocubs alr tfb doturgty vorgohcb cbovbstfb rbsucts unkfonibm. Yb tfbn bxkcumb tltoc bxtbrnoc mbht lvbr ING oso pltbntgoc mbtbrdgnont wfgcb cbovgni tfb vorgohcbs hosbm ln sflrt-tbrdmbht os port la tfb vorgohcbs unmbr stumy. ]fb rbsucts la tfb HDO onocysgstfbn plgnt tlworm o rlhust plsgtgvb baabkt la tfb lvbrocc cbvbc la sflrt-tbrd mbht lvbr ING onm o rlhust nbiotgvb baabkt la tfb vorgohcb dbosur-gni tfb sforb la sflrt-tbrd mbht gn tltoc bxtbrnoc mbht. ]fgs gdpcgbs tfottfb sgzb la tfb sflrt-tbrd mbht vorgohcb dottbrs hut tfot kluntrgbs wgtfo fgifbr sforb la clni-tbrd mbht orb dlrb prlnb tl mbaouctgni, on baabkttfot gs prlhohcy rbcotbm tl tfb bxkcusgln la fgifcy gnmbhtbm kluntrgbs arldsflrt-tbrd mbht dorebts.

Dlmbc Ovbroigni onm Lut-la-[odpcb Zrbmgktgvb Ohgcgty alr[lvbrbgin Mbaouct

]l mbtbrdgnb wfbtfbr bxpclgtgni dlmbc unkbrtognty kon cbom tl gdprlvb-dbnts gn tfb lut-la-sodpcb prbmgktglns la tfb prlhohgcgty la slvbrbginmbaouct, wb klnmukt o sgdpcb lut-la-sodpcb alrbkostgni bxbrkgsb, strukturbmos alcclws. Rsgni moto up tl ?77=, wb lhtogn dlmbc-ovbroibm prbmgk-

tglns la tfb mbaouct prlhohgcgtgbs alr tfb kluntrgbs gn lur sodpcb alr ?772,wfgkf orb kldputbm os wbgiftbm ovbroibs la sgnicb-dlmbc prbmgktglnsusgni plstbrglr dlmbc prlhohgcgtgbs os wbgifts. Gn poroccbc tfb prbmgktglnsla tfb dlmbc wgtf tfb fgifbst plstbrglr prlhohgcgty orb sovbm, gn lrmbrtl kldporb tfb dlmbc-ovbroibm rbsucts wgtf tflsb tfot wlucm fovb hbbnlhtognbm ga dlmbc sbcbktgln fom hbbn usbm gnstbom la ovbroigni. Yb ommtfb lhsbrvotgln klrrbsplnmgni tl ?772 tl tfb bstgdotgln pbrglm onm lhtognprbmgktglns alr ?771. Yb tfbn rbpbot tfgs prlkbmurb untgc tfb bnm la tfbsodpcb gs rbokfbm.

Yb bvocuotb tfb quocgty la tfb prbmgktglns hy tronsalrdgni tfb prlh-ohgcgty alrbkosts gntl –ocords— sginocgni tfb lkkurrbnkb la mbaouct. Alr tfgspurplsb, wb nbbm tl mbcgdgt tfb prlhohgcgty tfrbsflcm tfot mbagnbs ocordsalr prlhohgcgty prbmgktglns ohlvb tfot vocub. Alcclwgni tfb bdpgrgkoc cgtbr-oturb ln borcy worngni systbds (sbb Hbri, Hlrbnsztbgn, onm Zottgccl 8::=),

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mbtbrdgnonts onm rgses la slvbrbgin mbaouct 27

wb mbagnb o sgdpcb clss aunktgln la tfb plcgky doebr os tfb sud la wrlnicyprbmgktbm krgsbs os o sforb la tltoc krgsgs pbrglms onm wrlnicy prbmgktbm–qugbt pbrglms— os o sforb la tltoc qugbt pbrglms. Rsgni tfgs clss aunktgln,wfgkf gdpcgbs tfot tfb plcgky doebr korbs bquoccy ohlut typb G onm typbGG brrlrs klnkbrngni slvbrbgin mbaouct prbmgktglns, wb bstgdotb tfb prlh-ohgcgty tfrbsflcm mbagngni ocords os tfb cbvbc la prlhohgcgty tfot dgngdgzbstfb clss aunktgln lvbr tfb prbmgktgln pbrglm.6 Yb bstgdotb tfgs tfrbsflcmalr hltf tfb sbt la prbmgktglns hosbm ln HDO onm tflsb bdonotgni arldtfb sgnicb hbst spbkgagkotglns (gn tbrds la plstbrglr prlhohgcgty). ]fb rbsuctsgnmgkotb tfot HDO dbtflms gdprlvb tfb prbmgktgvb ohgcgty la sgnicb dlmbcs(tohcb 8.=). Dlmbc-ovbroibm prbmgktglns ml portgkucorcy wbcc ot gdprlvgnitfb sforb la klrrbkt ocord sginocs, ochbgt ot tfb klst la o sdocc rbmuktgln gntfb sforb la klrrbktcy prbmgktbm qugbt tgdbs. Lur rbsucts tfus suiibst tfotdbtflms tfot usb quontgagkotglns la dlmbc unkbrtognty tl oiirbiotb prbmgk-tglns la sgnicb dlmbcs sflucm hb ommbm tl tfb gnstrudbnts plcgky doebrsusb tl ontgkgpotb onm dbosurb pltbntgoc slvbrbgin mbaouct rgses.

]fb gdprlvbdbnt gs rbcotgvbcy dlmbst wgtf rbspbkt tl tfb hbst dlmbc,

portcy hbkousb tfb plstbrglr doss lvbr tfb dlmbc spokb gs fgifcy klnkbn-trotbm ln o sdocc nudhbr la dlmbcs. ]fgs –supbrdlmbc baabkt— gs rbcotbmtl tfb prglrs usbm gn tfb onocysgs (sbb Abcmegrkfbr onm Pbuinbr 8::7).]fb usb la o fypbrprglr strukturb lvbr porodbtbrs sflucm gdprlvb dgx-gni odlni dlmbcs, octfluif gt wlucm gnkrbosb tfb kldputotglnoc hurmbnbnlrdluscy.

Klnkcusglns

Rsgni o motohosb sponngni 82 ybors alr =1 bdbrigni dorebt kluntrgbs,wb usb HDO tbkfngqubs tl mbtbrdgnb tfb sbt la rlhust mbtbrdgnonts lambht mbaouct. O agrst clle ot tfb moto gnmgkotbs tfot kluntrgbs wgtf mgaabrbntcbvbcs la gnmbhtbmnbss fovb mgaabrbnt kforoktbrgstgks. Ln ovbroib, kluntrgbs

]ohcb 8.= Zrbmgktgln Xbsucts

Gtbd HDO prbmgktgln Hbst dlmbc prbmgktgln

Qocub la clss aunktgln :.;:; :.;87Kut-laa prlhohgcgty tfrbsflcm :.;18 :.;29

Klrrbkt ocords os pbrkbntoibla tltoc ocords :.6:: :.982

Klrrbkt nlnocords ospbrkbntoib la qugbt pbrglms :.272 :.1?9

[lurkb0 Outflrs.

Nltb0 Xbsucts orb hosbm ln lut-la-sodpcb prbmgktglns alr tfb pbrglm ?772‛8::=

(;;9 lhsbrvotglns). HDO 4 Hoybsgon dlmbc ovbroigni.

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1:  honmgbro, krbspl kuorbsdo, onm vgnkbcbttb

wgtf bxtbrnoc mbht hbclw 2: pbrkbnt la ING (rluifcy tfb dbmgon la tfgsvorgohcb gn lur sodpcb), irlw dlrb ropgmcy onm fovb clwbr gnacotgln tfonkluntrgbs wgtf fgifbr cbvbcs la bxtbrnoc mbht5 tfby ocsl okfgbvb prgdory

surpcusbs. Hbkousb tfby orb ocsl cbss lpbn, tfbsb kluntrgbs orb cbss bxplsbmtl sflkes arld bxtbrnoc mbdonm, run clwbr kurrbnt okklunt mbagkgts, onmflcm fgifbr cbvbcs la rbsbrvbs tfon dlrb gnmbhtbm kluntrgbs.

Alr tfb bntgrb sodpcb, tfb prlhohgcgty la mbaouct gs rlhustcy osslkgotbmlncy wgtf tfb cbvbc la gnmbhtbmnbss. Alr kluntrgbs wgtf mbht tl ING rotglshbclw 2: pbrkbnt, tfb quocgty la tfbgr plcgkgbs onm gnstgtutglns ocsl hbkldbsrbcbvont. Gn kluntrgbs wgtf bxtbrnoc mbht ohlvb 2: pbrkbnt la ING, gnaco-tgln onm gnmbhtbmnbss orb plsgtgvbcy osslkgotbm wgtf o fgifbr prlhohgcgtyla mbht mbaouct. ]fb gdplrtonkb la tfb gnstgtutglnoc sbttgnis onm quocgty la

plcgkgbs aombs owoy alr kluntrgbs wgtf fgifbr cbvbcs la mbht.Qorgohcbs rbprbsbntgni mbht klsts onm rlcclvbr rgse ml nlt oppbor rlhust

os prbmgktlrs la mbht mbaouct. ]fgs rbsuct klnagrds tfb vgbw gn tfb cgtbroturbtfot lncy o abw dokrlbklnldgk onm gnstgtutglnoc quocgty vorgohcbs orbnbkbssory tl prbmgkt mbaoucts (Erooy onm Nbfru 8::1). Gt ocsl gdpcgbs tfotdlrb onocysgs gs nbkbssory tl mbtbrdgnb tfb gdplrtonkb la mbht donoib-dbnt gn mbkrbosgni tfb prlhohgcgty la mbaouct.

]fb rbsucts sflw tfot dlmbc ovbroigni gdprlvbs tfb lut-la-sodpcbprbmgktgvb ohgcgty alr mbht krgsbs onm tfot sukf tbkfngqubs sflucm hbkldbport la tfb sbt la gnstrudbnts usbm hy plcgky doebrs tl ossbss slvbr-bgin mbaouct rgse. Aurtfbr gdprlvbdbnts doy hb rbocgzbm hy usgni o auccyHoybsgon opprlokf tl lhtogn dlmbc-ovbroibm rbsucts, usgni tfb rbsucts hyOchbrt onm Kfgh (?77;) gn tfb arodbwlre la HDO. ]fgs gdprlvbdbnt gsstrogiftalrworm arld on onocytgkoc plgnt la vgbw hut doy hb kldputotgln-occy klstcy.

Nltbs

  ?. ]fb sodpcb gnkcumbm tfb alcclwgni kluntrgbs0 Ocibrgo5 Oribntgno5 Hlcgvgo5Hrozgc5 Kfgcb5 Kfgno5 Klcldhgo5 Klsto Xgko5 Kyprus5 Kzbkf Xbpuhcgk5 tfb Mldgn-gkon Xbpuhcgk5 Bkuomlr5 Biypt, Oroh Xbp. la5 Bc [ocvomlr5 Bstlngo5 Iuotbdoco5Funiory5 Gnmgo5 Gnmlnbsgo5 Gsrobc5 @odogko5 @lrmon5 Eozoefston5 Cotvgo5 Cgtfuo-ngo5 Docoysgo5 Dbxgkl5 Dlrlkkl5 Ldon5 Zoegston5 Zonodo5 Zoroiuoy5 Zbru5 tfbZfgcgppgnbs5 Zlconm5 Xldongo5 Xussgon Abmbrotgln5 [clvoe Xbpuhcgk5 [lutf Oargko5]fogconm5 ]rgngmom5 ]ungsgo5 ]ureby5 Rerognb5 Rruiuoy5 onm Qbnbzubco, X. H. mb.

8. Yb orb vbry irotbauc tl Dorkl Aglrodontg alr egnmcy sforgni fgs moto sbtwgtf us.

  ;. ]fb KZGO rotbs kluntrgbs ln o skocb arld ? tl 1, wgtf fgifbr vocubs gnmgkot-gni hbttbr quocgty plcgkgbs onm gnstgtutglns.

  =. ]fb HGK opprlxgdotgln wos ocsl usbm, cbomgni tl quocgtotgvbcy sgdgcorrbsucts.

2. ]fb dlmbc spokb gn lur oppcgkotgln klntogns dlrb tfon 12,::: dlmbcs.Octfluif tfgs gs o troktohcb sgzb, wb mbkgmbm tl rbmukb kldputgni tgdb hy usgni tfbDK; sodpcbr tl bvocuotb tfb dlmbc spokb. Mlgni sl occlwbm us tl bstgdotb cbss tfon

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mbtbrdgnonts onm rgses la slvbrbgin mbaouct 1?

o tfgrm la tfb dlmbcs gn tfb aucc dlmbc spokb (?:,::: dlmbcs oatbr ?:,::: runs gntfb hurn-gn pfosb).

1. Erooy onm Nbfru (8::1) agnm tfot tfb dorignoc baabkt la tfb KZGO ln tfb

prlhohgcgty la mbaouct gs dukf coribr gn clw-gnkldb tfon gn dgmmcb-gnkldb klun-trgbs. HDO plgnt bstgdotbs la tfb dorignoc klntrghutgln la tfb KZGO gn bdbrignidorebt kluntrgbs orb klnsgstbnt wgtf tfb prbvglus agnmgni. Alr clw-mbht bdbrignidorebt kluntrgbs, tfb quocgty la plcgkgbs onm gnstgtutglns oppbors tl hb o strlnibrmbtbrdgnont la mbaouct tfon alr tfb wflcb sodpcb la dgmmcb-gnkldb kluntrgbsklnsgmbrbm hy Erooy onm Nbfru (8::1), suiibstgni tfot alr clw-mbht bdbrignidorebt kluntrgbs, tfb cbvbc la gnmbhtbmnbss gs nlt tfb lncy pgbkb la gnalrdotgln tfotdorebts klnsgmbr.

  9. ]fb rbsucts la tfb rlhustnbss kfbkes orb nlt prbsbntbm gn mbtogc fbrb. ]fbyorb ovogcohcb arld tfb outflrs upln rbqubst.

  6. ]fb clss aunktgln klucm pcokb dlrb wbgift ln krgsgs bvbnts tfot orb nlt klr-rbktcy prbmgktbm wfbn trub (typb GG brrlrs), os plcgky doebrs doy agnm gt unokkbptohcb

tl dgss o krgsgs. Mlgni sl, flwbvbr, klucm cbom tl rogsgni tll dony rbm acois wfbn tfbyorb nlt nbbmbm. Alr tfgs rbosln, wb kflsb tl dgngdgzb typbs G onm GG brrlrs bquoccy.

Xbabrbnkbs

Oeogeb, F. ?79;. –Gnalrdotgln ]fblry onm on Bxtbnsgln la tfb Doxgdud Cgebcg-fllm Zrgnkgpcb.— Gn [bklnm Gntbrnotglnoc [ydplsgud ln Gnalrdotgln ]fblry, bm. N. Zbtrlv onm A. Ksoeg, 819‛6?. Humopbst0 Okombdgog Egoml.

Ochbrt, @., onm [. Kfgh. ?77;. –Hoybsgon Onocysgs la Hgnory onm Zlcykfltldlus

Xbsplnsb Moto.—  @lurnoc la tfb Odbrgkon [totgstgkoc Osslkgotgln  66 (=88)0117‛97.

Hbri, O., B. Hlrbnsztbgn, onm K. O. Zottgccl. 8::=. –Ossbssgni Borcy Yorngni [ys-tbds0 Flw Fovb ]fby Ylrebm gn Zroktgkb<— GDA Ylregni Zopbr :=/28, Gntbr-notglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Kotël, C., onm H. [uttln. 8::8. –[lvbrbgin Mbaoucts0 ]fb Xlcb la Qlcotgcgty.— GDAYlregni Zopbr :8/?=7, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Kcymb, D. 8:::. –Dlmbc Rnkbrtognty onm Fboctf Baabkt [tumgbs alr ZortgkucotbDottbr.— Bnvgrlndbtrgks ??0 9=2‛1;.

Mbtroigokfb, B., onm O. [pgcgdhbril. 8::?. –Krgsbs onm Cgqugmgty0 Bvgmbnkb onm

Gntbrprbtotgln.— GDA Ylregni Zopbr :?/8, Gntbrnotglnoc Dlnbtory Aunm,Yosfgnitln, MK.

Abcmegrkfbr, D., onm [. Pbuinbr. 8::7. –Hbnkfdore Zrglrs Xbvgsgtbm0 Ln Omop-tgvb [frgneoib onm tfb [upbrdlmbc Baabkt gn Hoybsgon Dlmbc Ovbroigni.— GDAYlregni Zopbr Nl. :7/8:8, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Aglrodontg, D. 8::6. –Zrbmgktgni [lvbrbgin Mbht Krgsbs Rsgni Ortgagkgoc Nburoc Nbt-wlres0 O Kldporotgvb Opprlokf.— @lurnoc la Agnonkgoc [tohgcgty = (8)0 ?=7‛1=.

Alstbr, M. Z., onm B. G. Iblrib. ?77=. –]fb Xgse Gnacotgln Krgtbrgln alr DuctgpcbXbirbssgln.— Onnocs la [totgstgks 880 ?7=9‛92.

Igcc, G., onm H. Zgntl. 8::2. –Zuhcgk Mbht gn Mbvbclpgni Kluntrgbs0 Fos tfb

Dorebt-Hosbm Dlmbc Ylrebm<— Gn Donoigni Bklnldgk Qlcotgcgty onm Krgsbs0o Zroktgtglnbr‗s Iugmb, bm. @. Ogzbndon onm H. Zgntl. Kodhrgmib0 KodhrgmibRngvbrsgty Zrbss.

Eoss, X. B., onm O. B. Xoatbry. ?772. –Hoybs Aoktlrs.—  @lurnoc la tfb Odbrgkon[totgstgkoc Osslkgotgln 7:0 99;‛72.

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18  honmgbro, krbspl kuorbsdo, onm vgnkbcbttb

Erooy, O., onm Q. Nbfru. 8::1. –Yfbn Gs Bxtbrnoc Mbht [ustognohcb<— Ylrcm HoneBklnldgk Xbvgbw 8: (;)0 ;=?‛12.

Eruibr, D., onm D. Dbssdokfbr. 8::=. –[lvbrbgin Mbht onm Agnonkgni Nbbms.—

GDA Ylregni Zopbr :=/2;, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.Cby, B., onm D. A. [tbbc. 8::7. –Ln tfb Baabkt la Zrglr Ossudptglns gn Hoybsgon

Dlmbc Ovbroigni wgtf Oppcgkotglns tl Irlwtf Xbirbssgln.— @lurnoc la OppcgbmBklnldbtrgks 8= (=)0 12?‛9=.

Domgion, M., onm @. Wlre. ?772. –Hoybsgon Iropfgkoc Dlmbcs alr Mgskrbtb Moto.—Gntbrnotglnoc [totgstgkoc Xbvgbw 1;0 8?2‛;8.

Donossb, Z., N. Xluhgng, onm O. [kfgddbcpabnngi. 8::;. –Zrbmgktgni [lvbrbginMbht Krgsbs.— GDA Ylregni Zopbr :;/88?, Gntbrnotglnoc Dlnbtory Aunm,Yosfgnitln, MK.

Zbskotlrg, O., onm O. N. [. [y. 8::9. –Orb Mbht Krgsbs Ombquotbcy Mbagnbm<— GDA

[toaa Zopbrs 2= (8)0 ;:1‛;9.Xoatbry, O. B. ?772. –Hoybsgon Dlmbc [bcbktgln gn [lkgoc Xbsborkf.— [lkglcligkoc

Dbtflmlcliy 820 ???‛71.

Xbgnfort, K. D., onm E. [. Xlilaa. 8::7. ]fgs ]gdb Gs Mgaabrbnt0 Bgift Kbnturgbsla Agnonkgoc Alccy. Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.

”””. 8:?:. –Irlwtf gn o ]gdb la Mbht.— NHBX Ylregni Zopbr ?21;7, NotglnocHurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

Xbgnfort, K. D., E. [. Xlilaa, onm D. [ovostonl. 8::;. –Mbht Gntlcbronkb.—Hrllegnis Zopbrs ln Bklnldgk Oktgvgty, Hrllegnis Gnstgtutgln, Yosfgnitln,MK.

[kfworz, I. ?796. –Bstgdotgni tfb Mgdbnsgln la o Dlmbc.— Onnocs la [totgstgks 10 =1?‛1=.

[tonmorm & Zllr‗s. 8::2. –8::= ]ronsgtgln Moto alr Xotbm [lvbrbgins.— [tonmorm& Zllr‗s.

]ldz, D., onm D. C. @. Yrgift. 8::9. –Ml Kluntrgbs Mbaouct gn ‖Hom ]gdbs‗<—AXH la [on Aronkgskl Ylregni Zopbr 8::9-?9, Abmbroc Xbsbrvb Hone la[on Aronkgskl. fttp0//www.arhsa.lri/puhcgkotglns/bklnldgks/popbrs/8::1/ wp:9-?9he.pma.

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1;

;

Agnmgni tfb ]gppgni Zlgnt0 Yfbn

[lvbrbgin Mbht ]urns HomDbfdbt Konbr, ]fldos Irbnnbs, onmArgtzg Elbfcbr-Ibgh

Zuhcgk mbht fos gnkrbosbm suhstontgoccy alr kluntrgbs ot occ gnkldbcbvbcs os o rbsuct la tfb kurrbnt iclhoc bklnldgk krgsgs. Fgstlrgkocbvgmbnkb gnmgkotbs tfot gnkrbosbs gn mbht pbrsgst alr ybors alcclwgni

agnonkgoc krgsbs (Xbgnfort onm Xlilaa 8:?:5 [kltt 8:?:). Gn ommgtgln, prl-`bktglns la stonmorm dbosurbs la puhcgk mbht rbcotgvb tl IMZ alr tfb nbxt;: ybors gnmgkotb tfot mbht cbvbcs orb unsustognohcb alr dony kluntrgbs(Kbkkfbttg, Dlforty, onm Podplccg 8:?:). ]oegni okklunt la tfb gdpcgkgtpuhcgk mbht osslkgotbm wgtf slkgoc sbkurgty, dbmgkoc korb, onm klntgnibntcgohgcgtgbs wlucm rbvboc o suhstontgoccy doingagbm mbht prlhcbd (Kbkkfbttg,Dlforty, onm Podplccg 8:?:).

]fb gnkrbosb gn puhcgk mbht fos rogsbm klnkbrns lvbr wfbtfbr gt gs stort-gni tl fgt cbvbcs ot wfgkf gt dgift sclw bklnldgk irlwtf. Mlbs sukf o–tgppgni plgnt— bxgst< Flw strlni wlucm tfb irlwtf gdpokt hb ga mbhtsurpossbm tfb tfrbsflcm< Yfot wlucm foppbn ga mbht stoybm ot bcbvotbmcbvbcs alr on bxtbnmbm pbrglm la tgdb<

Okklrmgni tl Xbgnfort onm Xlilaa (8:?:), tfb onswbr tl tfb agrst qubs-tgln gs –ybs.— Rsgni fgstlirods suddorgzgni bvgmbnkb arld == mbvbclpbmonm mbvbclpgni bklnldgbs, tfby agnm o tfrbsflcm la 7: pbrkbnt kbntrocilvbrndbnt mbht tl IMZ, oatbr wfgkf tfb rboc irlwtf rotb mbkcgnbs. ]fgs

tfrbsflcm fos rbkbgvbm klnsgmbrohcb ottbntgln gn tfb prbss, wfgkf fosrbabrrbm tl gt os o –tgppgni plgnt— (Zlzbn 8:?:). ]fb tfrbsflcm fos proktg-koc sgingagkonkb hbkousb tfb Rngtbm [totbs onm dony ltfbr kluntrgbs bgtfbrfovb rbokfbm tfgs plgnt lr orb prl`bktbm tl rbokf gt slln onm rbdogn ohlvbgt alr ybors.

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wfbn slvbrbgin mbht turns hom 12

]fb dogn vorgohcbs orb irlss puhcgk mbht, IMZ irlwtf, onm o sbt laklntrlc vorgohcbs enlwn tl gnacubnkb bklnldgk irlwtf (tohcb ;.?).; Zuhcgkmbht gs dbosurbm os tfb rotgl la ibnbroc ilvbrndbnt irlss mbht tl IMZ.Yfbn klnsgmbrgni tfb mbht-irlwtf nbxus, mbht ot occ cbvbcs la ilvbrndbntgs rbcbvont, hbkousb gt gnacubnkbs tfb ilvbrndbnt‗s ohgcgty tl bnioib gnirlwtf-bnfonkgni pltbntgoccy kluntbrkykcgkoc plcgkgbs. ]fb ovbroib mbht tlIMZ rotgl wos 19.? pbrkbnt alr tfb bntgrb sodpcb (27.7 pbrkbnt alr fgif-gnkldb kluntrgbs). Ovbroib IMZ irlwtf wos ;.6 pbrkbnt alr tfb bntgrbsodpcb (8.1 pbrkbnt alr fgif-gnkldb kluntrgbs).

Yb klnsgmbr gnacotgln, tromb lpbnnbss, onm gngtgoc IMZ os klntrlc vorg-ohcbs. ]fb gnacotgln vorgohcb gs sbca-bxpconotlry. ]romb lpbnnbss gs kocku-cotbm os tfb sud la gdplrts onm bxplrts la illms onm sbrvgkbs rbcotgvb tlIMZ. Gngtgoc IMZ gs kockucotbm os tfb cliorgtfd la pbr kopgto IMZ gn ?79:.O motb hbalrb tfb stort la tfb tgdb pbrglm gs kflsbn tl bnsurb tfb ohsbnkbla bnmlibnbgty.

Dbtflmlcliy

]fb dogn rbsucts la tfb onocysgs mrow ln o tfrbsflcm cbost squorbs rbirbs-sgln dlmbc alcclwgni Fonsbn (?771, 8:::). Yb ocsl usb pllcbm cbostsquorbs rbirbssglns, tl rbcotb lur agnmgnis tl tflsb la Xbgnfort onm Xlilaa(8:?:). ]fb mbskrgptgln la tfb dbtflmlcliy fbrb alkusbs ln tfb tfrbsflcm

]ohcb ;.? Moto [lurkbs

Qorgohcb ]gdb sbrgbs Moto slurkb

Xboc IMZirlwtf IMZ (klnstont 8::: mlccors)

Ylrcm MbvbclpdbntGnmgkotlrs (Ylrcm Hone)

Zuhcgk mbht Ibnbroc ilvbrndbnt,irlss mbht

Ylrcm BklnldgkLutclle (GDA)

IMZ (kurrbnt mlccors)

Lpbnnbss Gdplrts la illms onm sbrvgkbs(kurrbnt mlccors)

Ylrcm MbvbclpdbntGnmgkotlrs (Ylrcm Hone)

Bxplrts la illms onm sbrvgkbs

(kurrbnt mlccors)IMZ (kurrbnt mlccors)

Gnacotgln Klnsudbr prgkb gnmbx Ylrcm BklnldgkLutclle (GDA)

Gngtgoc IMZ IMZ pbr kopgto gn ?79:(klnstont 8::: mlccors)

Ylrcm MbvbclpdbntGnmgkotlrs (Ylrcm Hone)

[lurkb0 Outflrs.

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wfbn slvbrbgin mbht turns hom 19 

Ga tfbrb gs nl tfrbsflcm, bxprbssgln (;.8) wgcc nlt hb rb`bktbm, onm osgdpcb cbost squorbs dlmbc kon hb bstgdotbm. Ga tfbrb gs o tfrbsflcm baabkt,bquotgln (;.?), gnkcumgni tfb unenlwn tfrbsflcm vocub la ε , gs bstgdotbm.

Hlltstrop p-vocubs orb usbm alr tfgs purplsb, hbkousb tfby kon rbpcgkotbtfb osydptltgk mgstrghutgln, os Fonsbn sflws (?771).

Xbsucts

Lvbrocc, tfb rbsucts suiibst tfot tfrbsflcms bxgst gn tfb rbcotglnsfgp hbtwbbntfb clni-run ovbroib puhcgk mbht tl IMZ rotgl onm clni-run IMZ irlwtf.]fby suiibst tfot gt gs krukgoc tl toeb gntl okklunt gngtgoc IMZ, tfot tfb

tfrbsflcm cbvbc mgaabrs alr mbvbclpgni onm mbvbclpbm bklnldgbs, onm tfottfb klst la surpossgni tfb mbht tfrbsflcm gs fgif lvbr tgdb.

O nltb la koutgln klnkbrns tfb pltbntgoc bnmlibnbgty la clni-run ovbr-oib mbht. Hbkousb wb alkus fbrb ln tfb rbcotgln hbtwbbn clni-run ovbroibmbht onm clni-run IMZ irlwtf, wb konnlt usb tfb gnstrudbntoc vorgohcbtfrbsflcm tbkfngqub la Konbr onm Fonsbn (8::=), wfgkf rbcgbs ln sflrt-run ovbroibs os gnstrudbnts. [flrt-run ovbroib mbht kon hb usbm tl ommrbsso mgaabrbnt rbsborkf qubstgln, wfgkf wb wgcc tokecb tfrluif ponbc motoonocysgs gn o auturb prl`bkt.

Yb ommrbss pltbntgoc bnmlibnbgty hy ommgni gngtgoc mbht/IMZ (?76:) tltfb bstgdotglns tl klntrlc alr ldgttbm vorgohcbs hgos onm rbvbrsb kousocgty.]fb rbsucts rbdogn quocgtotgvbcy tfb sodb wgtf tfb sodb tfrbsflcm vocubsonm sdocc kfonibs la tfb klbaagkgbnts gn tfb twl rbigdbs.

Mbht ]frbsflcm alr Occ Kluntrgbs

]fb agrst dogn rbsuct gs tfot tfb tfrbsflcm cbvbc la tfb ovbroib clni-run puh-cgk mbht tl IMZ rotgl ln IMZ irlwtf gs 99.? pbrkbnt alr tfb bntgrb sodpcbla 97 kluntrgbs (gngtgoc IMZ moto wbrb nlt ovogcohcb alr 88 kluntrgbs)

(tohcb ;.8). Ga mbht surpossbs tfgs cbvbc, bokf ommgtglnoc pbrkbntoib plgntgn tfb rotgl la puhcgk mbht tl IMZ klsts tfb bklnldy :.:?9= pbrkbntoibplgnt gn onnuoc ovbroib rboc irlwtf. ]fgs baabkt gs fgifcy sgingagkont onmquontgtotgvbcy gdplrtont. Hbclw tfgs tfrbsflcm, ommgtglnoc mbht gnkrbosbsirlwtf (tfb bstgdotbm klbaagkgbnt gs :.:12). ]fgs rbsuct gs klnsgstbnt wgtftfb gmbo tfot ot dlmbrotb mbht cbvbcs, o fgifbr puhcgk mbht tl IMZ rotgldoy oktuoccy gdpcy tfot krbmgt klnstrognts orb cllsbr onm tfb bklnldy fosdlrb rbslurkbs ovogcohcb alr gnvbstdbnt.

]fb rbsucts orb mbrgvbm arld tfb dlmbc gn bquotgln (;.?), agrst mbvbclpbm

hy Fonsbn (?771), wfbn bquotgln (;.8) gs rb`bktbm. Yb klntrlc alr tfb (cli-orgtfd la) gngtgoc (?79:) IMZ pbr kopgto, gnacotgln, onm tromb lpbnnbss. ]fbtbst stotgstgk alr tfb Coironibon ductgpcgbr tbst gs ?=.8?. Hbkousb tfb cgdgtgs nlnstonmorm hut rbklvbrohcb hy o hlltstrop prlkbmurb (Fonsbn ?771),tfb p-vocub arld ?,::: hlltstrop rbpcgkotglns gs :.:7;, sgingagkont ot tfb

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16  konbr, irbnnbs, onm elbfcbr-ibgh

?: pbrkbnt cbvbc. ]fb klbaagkgbnts ln gnacotgln orb gnsgingagkont. ]romb fos oplsgtgvb baabkt ln tfb irlwtf unmbr tfb fgif-mbht rbigdb, plssghcy hbkousbdlrb krbmgt gs ovogcohcb alr tromb. Gngtgoc IMZ pbr kopgto klbaagkgbnts orbsgingagkont onm dukf fgifbr gn clw-mbht tfon fgif-mbht rbigdbs.

Mbht ]frbsflcm Bxkcumgni Gngtgoc IMZ

]fb sbklnm dogn rbsuct gs tfot gt gs krukgoc tl gnkcumb gngtgoc IMZ gn tfb bstg-dotglns. Xbpbotgni tfb bstgdotglns hut ldgttgni gngtgoc IMZ sgingagkontcykfonibs tfb tfrbsflcm vocub. ]fb bstgdotbm tfrbsflcm alr tfb mbht tl IMZrotgl gs 79.1 pbrkbnt (tohcb ;.;). ]fb gdpokt gs sdocc hut fgifcy sgingagkontonm plsgtgvb.

]fb rbsucts orb mbrgvbm arld o Coironibon ductgpcgbr tbst la bquotgln(;.8). ]fb tbst stotgstgk alr tfb Coironibon ductgpcgbr tbst gs ?8.92, wgtf ohlltstrop p-vocub arld ?,::: hlltstrop rbpcgkotglns la :.:79, sgingagkontot tfb ?: pbrkbnt cbvbc. ]fb kluntry sodpcb klvbrs occ 77 kluntrgbs.

Mbht ]frbsflcms gn Mbvbclpgni onm Mbvbclpbm Bklnldgbs

]fb tfgrm dogn rbsuct gs tfot tfb tfrbsflcm mgaabrs suhstontgoccy alr mbvbclp-gni onm mbvbclpbm bklnldgbs. Xbpbotgni tfb bstgdotglns alr tfb suhsodpcbla mbvbclpgni kluntrgbs ygbcms o mbht tl IMZ tfrbsflcm la 1= pbrkbnt.

]ohcb ;.8 ]frbsflcm Xbirbssgln Xbsucts unmbr Mgaabrbnt]frbsflcm Mbht Cbvbcs

Qorgohcb

Xbigdb ?(mbht 99 pbrkbnt)

Xbigdb 8(mbht  99 pbrkbnt)

[clpb[tonmorm

brrlr [clpb[tonmorm

brrlr

Cli gngtgocIMZ pbrkopgto (?79:) :.::::1* :.::::? :.:::8* :.:::?

]romb lpbnnbss :.:=2=* :.::96 ‛:.:::9 :.::?8

Gnacotgln :.::?8 :.:::9 ‛:.:8== :.:?1=Mbht/IMZ ‛:.:?9=* :.::?: :.:12;* :.:?86

[lurkb0 Outflrs.

Nltb0 Mbpbnmbnt vorgohcb gs rboc ovbroib IMZ irlwtf. X8 gs :.762 alr tfb agrst

rbigdb, :.769 alr tfb sbklnm. ]fbrb orb ?8 kluntrgbs gn tfb agrst rbigdb onm 19 gn tfb

sbklnm. ]fb 72 pbrkbnt klnagmbnkb gntbrvoc alr tfb mbht tl IMZ rotgl gs U‛:.:?72,

‛:.:?2=T gn rbigdb ? onm U:.:=:8, :.:7:2T gn rbigdb 8, hosbm ln tfb cgebcgfllm rotgl

tbst gn Fonsbn (8:::). ]fb 72 pbrkbnt klnagmbnkb gntbrvoc alr tfb tfrbsflcm bstgdotb gs

U:.99:29=, :.99:29=T.

* [gingagkont ot tfb 2 pbrkbnt cbvbc usgni stonmorm nlrdoc krgtgkoc vocubs, os gn Fonsbn

(8:::).

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wfbn slvbrbgin mbht turns hom 17

Dlrblvbr, tfb nbiotgvb gdpokt la mbht bxkbbmgni tfgs tfrbsflcm gs scgiftcyirbotbr tfon gn tfb aucc sbt la kluntrgbs (klbaagkgbnt gs ‛:.:8: kldporbmwgtf ‛:.:?9 alr tfb bntgrb sodpcb). Yb wlucm fovb cgebm tl rbpbot tfbbxbrkgsb alr tfb sodpcb la mbvbclpbm kluntrgbs lncy, hut tfb sdocc nudhbr(81) la kluntrgbs domb mlgni sl gdplssghcb. ]fb mgaabrbnkb hbtwbbn tfbtfrbsflcm alr tfb aucc sodpcb onm tfb tfrbsflcm alr mbvbclpgni kluntrgbssuiibsts tfot os o irlup, mbvbclpgni kluntrgbs bnkluntbr irlwtf rotb prlh-cbds ot o clwbr mbht tl IMZ cbvbc.

]fb rbsucts, hosbm ln o Coironibon ductgpcgbr tbst la bquotgln (;.8),

rbvboc tfb bxgstbnkb la o tfrbsflcm (tohcb ;.=). ]fb klbaagkgbnt alr tfbCoironibon ductgpcgbr tbst gs ?6.115 tfb hlltstrop  p-vocub gs :.::8. ]fbsodpcb sgzb la mbvbclpgni kluntrgbs gs 22 (rbmukbm hy coke la moto ln gngtgocIMZ alr sldb kluntrgbs). Klbaagkgbnts ln tfb klntrlc vorgohcbs sflw tfbbxpbktbm sgins. Gntbrbstgnicy, tfb klbaagkgbnt ln tromb lpbnnbss gs plsgtgvbalr fgif-mbht rbigdbs, wfgkf gs unmbrstonmohcb, hut nbiotgvb alr clw-mbhtrbigdbs, plssghcy hbkousb la tromb horrgbrs.

Irlwtf Klsts la Bxkbbmgni tfb Mbht ]frbsflcm 

]fb alurtf dogn rbsuct gs tfot tfb gdpokt la tfb puhcgk mbht tl IMZ rotglbxkbbmgni tfb tfrbsflcm cbvbc gs klstcy gn tbrds la IMZ irlwtf (tohcb ;.2).]fb dlst bxtrbdb kosb gs Ngkoroiuo, wfbrb tfb ovbroib onnuoc rboc irlwtfrotb klucm fovb hbbn =.9 pbrkbnt fgifbr fom mbht hbbn ot tfb 1= pbrkbnt mbhttfrbsflcm alr mbvbclpgni kluntrgbs. Fgif gnmbhtbmnbss wos rbsplnsghcb alr

]ohcb ;.; ]frbsflcm Xbirbssgln Xbsucts unmbr Mgaabrbnt]frbsflcm Mbht Cbvbcs, Bxkcumgni Gngtgoc IMZ

Qorgohcb

Xbigdb ?(mbht  79.1 pbrkbntla IMZ)

Xbigdb 8(mbht  79.1 pbrkbntla IMZ)

[clpb [tonmorm brrlr [clpb [tonmorm brrlr

]romblpbnnbss :.::::9* :.::::? ‛:.:::2* :.:::?

Gnacotgln :.::89* :.:::; ‛:.::7? :.:?:;

Mbht/IMZ ‛:.:?=9* :.:::9 :.:6:2* :.::17

[lurkb0 Outflrs.

Nltb0 Mbpbnmbnt vorgohcb gs rboc ovbroib IMZ irlwtf. X8 gs :.791 alr tfb agrst

rbigdb onm :.717 alr tfb sbklnm. ]fbrb orb ?? kluntrgbs gn tfb agrst rbigdb onm 66 gn

tfb sbklnm. ]fb 72 pbrkbnt klnagmbnkb gntbrvoc alr tfb mbht tl IMZ rotgl gs U‛:.:?9;,

‛:.:?;:T gn rbigdb ? onm U:.:166, :.:7=1T gn rbigdb 8. Bstgdotglns orb hosbm ln tfb

cgebcgfllm rotgl tbst gn Fonsbn (8:::). ]fb 72 pbrkbnt klnagmbnkb gntbrvoc alr tfrbsf-

lcm bstgdotb gs U:.7:9=, ?.:==?T.

* [gingagkont ot tfb 2 pbrkbnt cbvbc usgni stonmorm nlrdoc krgtgkoc vocubs, os gn Fonsbn

(8:::).

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9:  konbr, irbnnbs, onm elbfcbr-ibgh

]ohcb ;.= ]frbsflcm Xbirbssgln Xbsucts alr Mbvbclpgni Kluntrgbs

Qorgohcb

Xbigdb ?

(mbht

 1= pbrkbntla IMZ)

Xbigdb 8

(mbht

 1= pbrkbntla IMZ)

[clpb [tonmorm brrlr [clpb [tonmorm brrlr

Cli gngtgocIMZ pbrkopgto (?79:) :.:8=7* :.::?2 :.::;= :.::8=

]romblpbnnbss :.:::8* :.:::? ‛:.::?2* :.:::9

Gnacotgln :.:::6* :.:::= ‛:.::61 :.:;??

Mbht/IMZ ‛:.:8:;* :.::;7 :.:9;7* :.::7;

[lurkb0 Outflrs.

Nltb0 Mbpbnmbnt vorgohcb gs rboc ovbroib IMZ irlwtf. X8 gs :.76 alr hltf rbigdbs.

]fbrb orb ?1 kluntrgbs gn tfb agrst rbigdb onm =: gn tfb sbklnm rbigdb. ]fb 72 pbr-

kbnt klnagmbnkb gntbrvoc alr tfb mbht tl IMZ rotgl gs U‛:.:;?8, ‛:.::66T gn rbigdb ?

onm U:.:=7?, :.:712T gn rbigdb 8. ]fbsb rbsucts orb hosbm ln tfb cgebcgfllm rotgl tbst

gn Fonsbn (8:::). ]fb 72 pbrkbnt klnagmbnkb gntbrvoc alr tfb tfrbsflcm bstgdotb gs

U:.1;;2, :.628=T.

* [gingagkont ot tfb 2 pbrkbnt cbvbc usgni stonmorm nlrdoc krgtgkoc vocubs, os gn Fonsbn

(8:::).

]ohcb ;.2 Bstgdotbm Alrilnb Irlwtf os o Xbsuct la Bxkbbmgnitfb Mbht ]frbsflcm, hy Kluntry

Kluntry

Flw fgif irlwtfklucm fovb hbbn

ga tfb mbht tlIMZ rotgl fom

hbbn ot tfbtfrbsflcm cbvbc

(pbrkbntrboc ovbroib

 irlwtf rotb)

Onnuoc pbrkbntoib

 plgnt clss gnrboc IMZ irlwtf

Kuducotbm clsslvbr 86 ybors

(pbrkbntoib plgntclss gn rboc

IMZ irlwtf)

Onilco ;.8 ?.8 18.6

Hbcigud 8.9 :.1 ?6.=

Hlcgvgo 8.= :.? ?.1

Huciorgo 8.2 :.1 ?1.9

Hurunmg 8.1 :.6 8=.;

Konomo ;.? :.= ??.1

Klnil, Xbp. la 2.: ?.: ;8.9

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wfbn slvbrbgin mbht turns hom 9?

Kýtb m‗Gvlgrb 8.? ?.8 =?.?

Krlotgo ?.2 :.8 1.:

Bkuomlr ;.: :.? ?.2

Irbbkb 8.8 :.: :.2

Iugnbo =.: :.= ?;.:

Funiory ?.6 :.? ;.8

Gnmlnbsgo 1.6 ?.; =2.8

Gtocy 8.? :.= ?:.7

 @odogko 8.: :.8 2.?

 @opon 8.7 :.1 ?6.1

 @lrmon 2.? :.? 8.;

Col ZMX 1.6 :.6 ;;.:

Cotvgo 8.2 :.? ;.?

Cbhonln 2.8 :.= ??.9

Domoioskor 8.= :.2 ?2.;

Docg ;.; :.8 2.8

Ngkoroiuo 1.1 =.9 81=.1

Ngibrgo ;.= :.8 =.9

Zfgcgppgnbs ;.8 :.: ?.8

[gbrro Cblnb ;.? ?.: ;;.:

[gnioplrb 9.; :.= ?;.:

]onzongo 2.: :.8 1.;

[lurkb0 Outflrs‗ kockucotglns.

Nltb0 ]fb puhcgk mbht tl IMZ tfrbsflcm oppcgbm gs 99 pbrkbnt alr mbvbclpbm

bklnldgbs onm 1= pbrkbnt alr mbvbclpgni kluntrgbs.

]ohcb ;.2 (klntgnubm)

Kluntry

Flw fgif irlwtf

klucm fovb hbbnga tfb mbht tlIMZ rotgl fom

hbbn ot tfbtfrbsflcm cbvbc

(pbrkbntrboc ovbroib

 irlwtf rotb)

Onnuoc pbrkbntoib

 plgnt clss gnrboc IMZ irlwtf

Kuducotbm clsslvbr 86 ybors

(pbrkbntoib plgntclss gn rboc

IMZ irlwtf)

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98  konbr, irbnnbs, onm elbfcbr-ibgh

on onnuoc clss la =.9 pbrkbntoib plgnts la rboc IMZ irlwtf, bqugvocbnt tlo 81= pbrkbnt clss lvbr tfb 86 ybors la tfb stumy. ]fgs bxodpcb gccustrotbstfb fgif klsts la pbrsgstbnt vglcotglns la mbht tfrbsflcm cbvbcs.

Kldporgsln la Xbsucts wgtf Xbsucts la Xbgnfort onm Xlilaa 

Yb kldporb lur agnmgnis wgtf tflsb la Xbgnfort onm Xlilaa (8:?:) hyrunngni sgdpcb pllcbm cbost squorbs rbirbssglns alr suhsodpcbs hbclwonm ohlvb tfb tfrbsflcm tfby suiibst. Gn tfb pllcbm rbirbssglns, wb agnm orbigdb swgtkf ot tfb 7: pbrkbnt mbht tl IMZ rotgl, os gnmgkotbm hy Xbgn-fort onm Xlilaa‗s onocysgs hosbm ln fgstlirods. Flwbvbr, rbpbotgni tfbpllcbm rbirbssglns wgtf o mbht tfrbsflcm la 1: pbrkbnt ocsl sflws o rbigdb

swgtkf. ]fbsb rbsucts gccustrotb tfot tfbgr dbtflmlcliy mlbs nlt mbcgvbrkcbor tfrbsflcm cbvbcs. Dlrblvbr, igvbn tfb mbdlnstrotbm gdplrtonkb laklntrlccgni alr gngtgoc IMZ, tfb usb la fgstlirods lr pllcbm rbirbssglnskon hb lncy gnmgkotgvb onm dust hb gntbrprbtbm wgtf korb. Ot cbost lvbrclnibr pbrglms, puhcgk mbht kon hbkldb mbtrgdbntoc tl irlwtf ot clwbrcbvbcs la mbht.= 

Yb pllc lhsbrvotglns ln IMZ irlwtf onm ilvbrndbnt mbht tl IMZrotgls alr tfb sodb 8: gnmustrgoc kluntrgbs os Xbgnfort onm Xlilaa. Ybtfbn run sgdpcb pllcbm cbost squorbs (wgtf fbtbrlsebmostgkgty-klrrbktbmbrrlrs) alr twl sbts la kluntrgbs. ]fb agrst sbt klntogns kluntrgbs wgtf mbhtcbvbcs la ot cbost 7: pbrkbnt (tohcb ;.1). ]fb sbklnm gnkcumbs kluntrgbswgtf mbht rotgls hbclw 7: pbrkbnt. Yb kldporb tfb sclpb klbaagkgbnts alrtfb ilvbrndbnt mbht tl IMZ rotgls alr tfb twl sbts la rbirbssglns. ]fbrbsuct occlws o dlrb prbkgsb kldporgsln la kluntrgbs ohlvb onm hbclw tfbtfrbsflcm tfon Xbgnfort onm Xlilaa. Os Xbgnfort onm Xlilaa (8:?:) sui-ibst, tfbrb gs o rbigdb swgtkf ot tfb 7: pbrkbnt mbht tl IMZ rotgl.2

Yb bxtbnm tfgs sgdpcb bxbrkgsb hy ocsl klnsgmbrgni o 1: pbrkbnt puhcgkmbht tl IMZ rotgl. ]fb agrst sbt la lhsbrvotglns klrrbsplnms tl mbht rotglsohlvb 1: pbrkbnt, onm tfb sbklnm irlup gs alr mbht rotgls hbclw 1: pbrkbnt.

]fb mgaabrbnkb hbtwbbn sclpb klbaagkgbnts alr tfb twl irlups gs sdocc kld-porbm wgtf tfb 7: pbrkbnt tfrbsflcm. Flwbvbr, gn tfbsb rbirbssglns tfbrbgs o rbigdb swgtkf ot tfb tfrbsflcm cbvbc, wgtf tfb gdpokt la mbht ln IMZturngni nbiotgvb ohlvb.

]ohcb ;.1 IMZ Irlwtf onm Mbht Xotgl

Mbht rotgl [clpb [tonmorm brrlr t-tbst  p-vocub

≢ 7: pbrkbnt ‛:.:?;9 :.::12 ‛8.?: :.:;6

3 7: pbrkbnt :.::?8 :.::22 :.8; :.6?7

≢ 1: pbrkbnt ‛:.::7? :.::;9 ‛8.=; :.:?1

3 1: pbrkbnt ‛:.::29 :.::67 ‛:.:; :.2?7

[lurkb0 Outflrs.

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9=  konbr, irbnnbs, onm elbfcbr-ibgh

Nltbs

]fb outflrs tfone Xlmrgil Kfovbs onm Poabr Dustoaolicu alr vbry fbcpauc kld-dbnts onm supplrt onm Ioccgno O. Qgnkbcbttb alr vbry fbcpauc suiibstglns.

 ?. Klrmbcco, Xgkkg, onm Xugz-Orronz (8:?:) ocsl bstgdotb tfrbsflcm rbirbssglns.]fbsb rbsuct orb nlt usbm alr tfb dogn dbssoib la tfbgr popbr.

 8. Xbgnfort onm Xlilaa (8:?:) onocyzb 8: mbvbclpbm kluntrgbs5 ltfbr stumgbsalkus bxkcusgvbcy ln mbvbclpgni kluntrgbs. [bb, alr bxodpcb Zottgccl, Zlgrsln, onmXgkkg (8::8, 8::=) onm Klrmbcco, Xgkkg, onm Xugz-Orronz (8:?:), bokf la wfgkfonocyzbs dlrb tfon 1: kluntrgbs.

;. Xboc IMZ irlwtf gs kockucotbm gn klnstont 8::: mlccors.

 =. Yb usb o sflrtbr pbrglm la tgdb tfon Xbgnfort onm Xlilaa (8:?:) onm ibnbrocilvbrndbnt mbht rotfbr tfon kbntroc ilvbrndbnt mbht.

 2. ]fb sgdpcb pllcbm rbirbssgln mlbs nlt klntrlc alr ony ltfbr bklnldgk vorg-ohcbs tfot oaabkt irlwtf lr tbst alr tfb bxgstbnkb la o tfrbsflcm. ]fb rbsucts sflucmtfbrbalrb hb gntbrprbtbm wgtf koutgln.

Xbabrbnkbs

Okbdlicu, Morln, [gdln @lfnsln, @odbs Xlhgnsln, onm Wunylni ]fogkforlbn.

8::;. –Gnstgtutglnoc Kousbs onm Dokrlbklnldgk [ydptlds0 Qlcotgcgty, Krgsbsonm Irlwtf.— @lurnoc la Dlnbtory Bklnldgks 2: (?)0 =7‛?8;.

Ocaorl, C., onm Q. Qlclslvykf. 8::6. –Yfy Mlbsn‗t Kopgtoc Aclw arld Xgkf tlZllr Kluntrgbs< On Bdpgrgkoc Gnvbstgiotgln.— Xbvgbw la Bklnldgks onm [to-tgstgks 7: (8)0 ;=9‛16.

Hugtbr, Ygccbd. 8:?:. –Zuhcgk Mbht Bxpclsglns gn Mbvbclpbm Notglns.— Dorkf, KgtgGnvbstdbnt Xbsborkf, Nbw Wlre, NW.

Konbr, Dbfdbt, onm Hrukb Fonsbn. 8::=. –Gnstrudbntoc Qorgohcb Bstgdotgln la o]frbsflcm Dlmbc.— Bklnldbtrgk ]fblry 8:0 6?;‛=;.

Kotël, Cugs O. Q., onm Dorkl ]brrlnbs. 8::2. –Agskoc Mbagkgts onm Gnacotgln.—

 @lurnoc la Dlnbtory Bklnldgks 28 (;)0 287‛2=.Kbkkfbttg, [tbpfbn, D. [. Dlforty, onm Aohrgzgl Podplccg. 8:?:. –]fb Auturb la

Zuhcgk Mbht0 Zrlspbkts onm Gdpcgkotglns.— Zopbr prbsbntbm ot tfb GntbrnotglnocXbsborkf Klnabrbnkb flstbm hy tfb Hone la Gnmgo, Abhruory ?8, gn Mbcfg.

Mbvbclpbmbklnldy (81)

Oustrocgo5 Oustrgo5 Hbcigud5 Konomo5 tfb KzbkfXbpuhcgk5 Mbndore5 Agnconm5 Aronkb5 Ibrdony5Irbbkb5 Gkbconm5 Grbconm5 Gtocy5 @opon5 Elrbo, Xbp. la5tfb Nbtfbrconms5 Nbw Pboconm5 Nlrwoy5 Zlrtuioc5 tfb[clvoe Xbpuhcgk5 [clvbngo5 [pogn5 [wbmbn5 [wgtzbrconm5tfb Rngtbm Egnimld5 tfb Rngtbm [totbs

[lurkb0 Outflrs.

]ohcb ;O.? (klntgnubm)

Bklnldy typb Kluntrgbs

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wfbn slvbrbgin mbht turns hom 92

Klrmbcco, ]gtl, Cuko O. Xgkkg, onm Dorto Xugz-Orronz. 8:?:. Mbht Lvbrfoni lrMbht Grrbcbvonkb0 Xbvgsgtgni tfb Mbht Irlwtf Cgne. GDA [toaa Zopbr, Gntbrno-tglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Aronebc, @baarby, onm Movgm Xldbr. ?777. –Mlbs ]romb Kousb Irlwtf<— OdbrgkonBklnldgk Xbvgbw 67 (;)0 ;97‛77.

Fonsbn, H. B. ?771. –Gnabrbnkb Yfbn o Nugsonkb Zorodbtbr Gs Nlt Gmbntgagbmunmbr tfb Nucc Fypltfbsgs.— Bklnldbtrgko 1= (8)0 =?;‛;:.

”””. 8:::. –[odpcb [pcgttgni onm ]frbsflcm Bstgdotgln.— Bklnldbtrgko 16 (;)0292‛1:;.

Cbbpbr, Brgk, onm Hg Fugtxgn. 8:?:. –[lvbrbgin Mbht Xgse onm Agskoc Zlcgky gn [wb-mbn.— NHBX Ylregni Zopbr ?26?:, Notglnoc Hurbou la Bklnldgk Xbsborkf,Kodhrgmib, DO.

Cbvgnb, Xlss, onm Movgm Xbnbct. ?778. –O [bnsgtgvgty Onocysgs la Krlss-Kluntry

Irlwtf Xbirbssglns.— Odbrgkon Bklnldgk Xbvgbw 68 (=)0 7=8‛1;.Zottgccl, Kotfbrgnb, Fbcbnb Zlgrsln, onm Cuko Xgkkg. 8::8. –Bxtbrnoc Mbht onm

Irlwtf.— GDA Ylregni Zopbr :8/17, Gntbrnotglnoc Dlnbtory Aunm, Yosfgni-tln, MK.

”””. 8::=. –Yfot Orb tfb Kfonnbcs tfrluif Yfgkf Bxtbrnoc Mbht OaabktsIrlwtf<— GDA Ylregni Zopbr :=/?2, Gntbrnotglnoc Dlnbtory Aunm, Yosfgni-tln, MK.

Zlzbn, X. 8:?:. —]fb R[ Zuhcgk Mbht Fgts Gts ]gppgni Zlgnt.— Hlstln Iclhb,Abhruory 8;.

Xbgnfort, Kordbn, onm Ebnnbtf Xlilaa. 8::7. ]fgs ]gdb Gs Mgaabrbnt0 Bgift Kbn-

turgbs la Agnonkgoc Alccy. Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.”””. 8:?:. –Irlwtf gn o ]gdb la Mbht.— Odbrgkon Bklnldgk Xbvgbw ?:: (8)0

29;‛96.

Xbgnfort, Kordbn, Ebnnbtf [. Xlilaa, onm Dgiubc O. [ovostonl. 8::;. –MbhtGntlcbronkb.— Hrllegnis Zopbrs ln Bklnldgk Oktgvgty ?0 ?‛9=.

[kltt, Onmrbw. 8:?:. –]fb Clni Yovb la Ilvbrndbnt Mbht.— Qlx, Dorkf ??.

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96  hbccos, popoglonnlu, onm pbtrlvo

toeb gntl okklunt dokrlbklnldgk aunmodbntocs wfbn prgkgni slvbrbginrgse. ]fb bxtbrnoc mbht tl IMZ rotgl, tfb mbirbb la lpbnnbss, tfb rotgl laodlrtgzotglns tl rbsbrvbs, onm tfb rotgl la tfb kurrbnt okklunt tl IMZ orb

occ sgingagkontcy klrrbcotbm wgtf slvbrbgin sprboms5 tfb gntbrbst poydbntstl bxtbrnoc mbht rotgl onm tfb aroktgln la sflrt-tbrd bxtbrnoc mbht orb ocslklrrbcotbm wgtf slvbrbgin sprboms, ochbgt dlrb wboecy. Abrukkg ocsl agnmstfot nlnaunmodbntoc aoktlrs pcoy on gdplrtont rlcb, os suiibstbm hy tfbstrlni bdpgrgkoc rbcotglnsfgp hbtwbbn slvbrbgin sprboms onm bxtbrnoc aok-tlrs sukf os iclhoc cgqugmgty klnmgtglns onm R.[. bqugty prgkbs.

Xbsborkfbrs fovb ocsl bxodgnbm agnonkgoc sbktlr onm krgsgs-rbcotbm mbtbr-dgnonts la slvbrbgin hlnm sprboms. Bhnbr (8::7) agnms sgingagkont mgaabr-bnkbs gn ilvbrndbnt hlnm sprboms gn Kbntroc onm Bostbrn Burlpb murgni

krgsgs onm nlnkrgsgs pbrglms. Okklrmgni tl fgs wlre, dorebt vlcotgcgty,plcgtgkoc gnstohgcgty lr unkbrtognty, onm iclhoc aoktlrs bxpcogn tfb rgsb gnsprboms murgni krgsgs pbrglms, wfbn dokrlbklnldgk vorgohcbs clsb sldb latfbgr gdplrtonkb. Mogcodg, Dossln, onm Zomlu (8::6) prlplsb o arodb-wlre gn wfgkf tfb prlhohgcgty la mbaouct gs o nlncgnbor aunktgln la tfbrgse-arbb rotb (R.[. ]rbosurgbs), gdpcygni tfot tfb R.[. gntbrbst rotb oclnbgs nlt o suaagkgbnt bxpconotgln la tfb sprbom cbvbc. Gntbroktglns wgtf tfbsbvbrgty la tfb mbht mynodgks, iclhoc cgqugmgty klnmgtglns, tfb oppbtgtb alrrgse, onm sflke gnmgkotlrs orb ocsl gdplrtont, onm o mgstgnktgln fos tl hbdomb hbtwbbn krgsgs onm nlnkrgsgs pbrglms.

Dlmy (8::7) gnvbstgiotbs tfb cgnes hbtwbbn slvbrbgin hlnm sprboms gnburl kluntrgbs onm agnonkgoc vucnbrohgcgty. Fb agnms tfot agnonkgoc aroigcgty(dbosurbm hy tfb rotgl la tfb bqugty gnmbx la tfb kluntry‗s agnonkgoc sbktlr tltfb lvbrocc bqugty gnmbx) gs strlnicy klrrbcotbm wgtf sprbom kfonibs. Hbtwbbntfb tgdb tfb burl wos gntrlmukbm onm @ucy 8::9, alr bxodpcb, dorebtsklnsgmbrbm tfb prlhohgcgty la slvbrbgin mbaouct tl hb nbicgighcb. Alcclwgnitfb lnsbt la tfb krgsgs, slvbrbgin sprboms gn burl kluntrgbs rlsb, os gnvbstlrssluift rgse-arbb ossbts. Oatbr tfb rbskub la Hbor [tborns, gn Dorkf 8::6, omgaabrbntgotgln gn sprboms okrlss kluntrgbs bdbribm, kousbm dogncy hy mgaabr-

bnkbs gn tfb prlspbkts la tfb mldbstgk agnonkgoc sbktlr. Mgaabrbnkbs wgmbnbmgn [bptbdhbr 8::6 (wfbn Cbfdon Hrltfbrs aogcbm), os sldb kluntrgbs pogmon gnkrbosbm pbnocty alr fgif puhcgk mbht tl IMZ rotgls.

O rbcotbm tlpgk tfot fos rbkbgvbm klnsgmbrohcb ottbntgln gs tfb rbcotgln-sfgp hbtwbbn slvbrbgin sprboms onm mbaouct rgse. [lvbrbgin hlnm sprbomsorb wgmbcy klnsgmbrbm o kldprbfbnsgvb dbosurb la o kluntry‗s lvbrocc rgseprbdgud, stbddgni arld dorebt, krbmgt, cgqugmgty, onm ltfbr rgses. Kokbrbs,Iuzzl, onm [bilvgonl (8:?:) dlmbc slvbrbgin sprboms ln `lgnt prlhohgcg-tgbs la mgstrbss, bxtroktbm arld krbmgt mbaouct swop sprboms, klntrlccgni alr

iclhoc rgse ovbrsgln onm dokrlbklnldgk aunmodbntocs. ]fbgr opprlokffbcps ossbss tfb bxtbnt tl wfgkf tfb corib acuktuotglns gn burl slvbrbginsprboms rbacbkt kfonibs gn iclhoc rgse ovbrsgln onm tfb rgsb gn kluntry-spbkgagk rgse. ]fb rbsucts sflw tfot borcy gn tfb krgsgs, tfb surib gn iclhoc rgseovbrsgln wos o sgingagkont aoktlr gnacubnkgni slvbrbgin sprboms. Xbkbntcy,kluntry-spbkgagk aoktlrs fovb stortbm pcoygni o dlrb gdplrtont rlcb.

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68  hbccos, popoglonnlu, onm pbtrlvo

Qorgohcb [bcbktgln onm Moto

Yb usb tfb alcclwgni vorgohcbs tl bxpcogn tfb sprbom cbvbcs0

• Bxtbrnoc mbht/IMZ• Gntbrbst poydbnts ln bxtbrnoc mbht/rbsbrvbs• [flrt-tbrd mbht/rbsbrvbs• Bxtbrnoc mbht odlrtgzotgln/rbsbrvbs• Agskoc hoconkb/IMZ• ]romb lpbnnbss• Kurrbnt okklunt hoconkb/IMZ• Agnonkgoc aroigcgty (agnonkgoc strbss gnmbx)• Xgse-arbb rotb (R.[. ;-dlntf ]rbosury Hgcc onm ?:-ybor ilvbrndbnt

hlnm ygbcm).

Dokrlbklnldgk Qorgohcbs

Lur tfblrbtgkoc arodbwlre gnmgkotbs tfb sbcbktgln la aunmodbntoc aoktlrs,sukf os tfb rgse-arbb rotb (r), tfb stlke la mbht (M), irlss mldbstgk prlmukt(W ), onm tfb agskoc hoconkb (] ‛ I), os tfb dogn mbtbrdgnonts la slvbrbginhlnm sprboms. Gn ommgtgln, cgqugmgty onm sustognohgcgty gnmgkotlrs nbbm tl hb

gnkcumbm gn lrmbr tl ossbss o kluntry‗s kopokgty tl rbpoy gts mbht. Cgqugmgtygnmgkotlrs dbosurb gssubrs‗ ohgcgty tl aucagcc tfbgr kurrbnt lhcgiotglns. Nlto-hcy, tfb stlke la gntbrnotglnoc rbsbrvbs pcoys o rlcb hy prlvgmgni o huaabr laalrbgin cgqugmgty tfot klucm hb usbm tl rbpoy mbht.8 Yb tfbrbalrb gnkcumb (osrotgls tl rbsbrvbs) bxtbrnoc mbht odlrtgzotgln, gntbrbst poydbnts, onm tfbodlunt la sflrt-tbrd mbht, wfgkf”tlibtfbr wgtf tfb agskoc hoconkb onm tfbkurrbnt okklunt hoconkb”kforoktbrgzb tfb kluntry‗s irlss agnonkgni nbbms.Yb bxpbkt tfbsb vorgohcbs tl fovb o plsgtgvb gdpokt ln slvbrbgin sprboms,wgtf irbotbr agnonkgni nbbms gdpcygni irbotbr kldpbnsotgln alr rgse.

Bxtbrnoc slcvbnky gs cgnebm tl o sustognohcb cbvbc la bxtbrnoc gnmbhtbm-nbss onm aoktlrs tfot oaabkt gt, sukf os tfb kurrbnt okklunt hoconkb onmtromb lpbnnbss (prlxgbm hy tfb rotgl la bxplrts pcus gdplrts tl IMZ). Gnportgkucor, o clw mbirbb la lpbnnbss kon oaabkt tfb tromb surpcus onm tfbrb-alrb gnkrbosb tfb prlhohgcgty la bxtbrnoc mbaouct. ]fbrbalrb, wb bxpbkt hltftfb kurrbnt okklunt onm tromb lpbnnbss tl fovb nbiotgvb sgins.

Agnonkgoc Aroigcgty onm Krgsgs Zbrglms

Bdpclygni lncy dokrlbklnldgk aunmodbntocs tl bxpcogn sprboms, wgtflutgnklrplrotgni plcgtgkoc onm krgsgs klnsgmbrotglns, mlbs nlt ombquotbcy kop-turb mbht mynodgks onm tfb prlhohgcgty la mbaouct (onm tfbrbalrb tfb baabktln sprboms). Rsgni zbrl-lnb hgnory vorgohcbs latbn usbm gn bklnldbtrgkwlre (sbb Dlmy 8::7) mlbs nlt ocwoys prlvgmb o illm dbosurb la gntbnsgty

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 6   2  

Kurrbntokklunt

Kurrbnt okklunt hoconkb Mlccors _uortbrcy Nl

Lpbnnbss Bxplrts + gdplrts/IMZ Zbrkbnt _uortbrcy Nl

Zlcgtgkoc rgsegnmbx

]ltoc plcgtgkoc rgse sklrb (:‛?::),bvocuotgni o ronib la aoktlrsrbcotgni tl plcgtgkoc stohgcgtyonm baabktgvbnbss5 fgifbr sklrbgnmgkotbs irbotbr plcgtgkoc rgse

Gnmbx _uortbrcy Nl

Agnonkgoc strbssgnmbx

[tonmorm kldplnbnts0 bxkfonibdorebt prbssurb gnmbx (wfgkf

mbpbnms ln bxkfonib rotb onmkfonib gn rbsbrvbs)5 slvbrbginsprboms (bxkcumbm)5 honegnisbktlr hbto stlke rbturns5 stlkerbturn vlcotgcgty

Nlnb _uortbrcy Nl

R.[. ;-dlntf]rbosury Hgcc

R.[. ;-dlntf ]rbosury Hgcc rotb Zbrkbnt _uortbrcy Nl

R.[. ?:-yborilvbrndbnt

hlnm

R.[. ?:-yborilvbrndbnt hlnm rotb

Zbrkbnt _uortbrcy Nl

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bxtbrnoc mbht/IMZ (cbat oxgs) puhcgk mbht/IMZ (cbat oxgs)

BDHG sprbom (rgift oxgs)

agskoc hoconkb/IMZ (cbat oxgs) kurrbnt okklunt/IMZ (cbat oxgs)

BDHG sprbom (rgift oxgs)

plcgtgkoc rgse gnmbx (cbat oxgs) agnonkg

BDHG sprbom (rgift oxgs)

sflrt-tbrd mbht/rbsbrvbs (cbat oxgs)

BDHG sprbom (rgift oxgs)

gntbrbs

odlrtgz

Agiurb =.? Mbtbrdgnonts la BDHG [prboms

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 6  7  

Zogrwgsb klrrbcotgln ? 8 ; = 2 1 9 6

BDHG sprbom ?.:

Bxtbrnoc mbht/IMZ :.; ?.:

Zuhcgk mbht/IMZ :.=*** :.6*** ?.:

[flrt-tbrd mbht/rbsbrvbs :.=*** :.?*** :.?*** ?.:

Gntbrbst poydbnts/rbsbrvbs :.=*** :.?*** :.? :.9*** ?.:

Odlrtgzotgln/rbsbrvbs :.8*** :.: :.: :.2*** :.6*** ?.:Agskoc hoconkb/IMZ ‛:.?** :.: ‛:.?*** ‛:.?*** ‛:.8*** ‛:.8*** ?.:

Kurrbnt okklunt/IMZ :.: ‛:.?*** ‛:.? ‛:.?* :.: :.: :.: ?.:

Zlcgtgkoc rgse gnmbx :.1*** :.;*** :.=*** :.?*** :.;*** :.?** :.: :.8**

Lpbnnbss ‛:.=*** :.?*** ‛:.8*** ‛:.?*** ‛:.8*** ‛:.8*** ‛:.?*** :.8**

Agnonkgoc strbss gnmbx :.;*** :.: :.: :.? :.8*** ‛:.? ‛:.?* ‛:.?**

R.[. ;-dlntf ]rbosury

Hgcc rotb :.: :.: :.: :.8 :.8 :.: :.: :.:

[prbom hbtwbbn R.[. ?:-ybor

onm ;-dlntf rotbs :.8*** :.:* :.?** :.?*** :.: :.: ‛:.?* :.:

R.[. ?:-ybor ilvbrndbnt

hlnm ygbcm :.;*** :.?** :.: :.;*** :.;*** :.: :.: :.:

[lurkb0 Outflrs.

Nltb0 BDHG 4 Bdbrigni Dorebts Hlnm Gnmbx.

*** [gingagkont ot tfb ?% cbvbc5 ** sgingagkont ot tfb 2% cbvbc5 * sgingagkont ot tfb ?:% cbvbc.

[prbom hbtwbbn

R.[. ?:-ybor onm

;-dlntf rotbs

R.[. ?:-ybor

ilvbrndbnthlnm ygbcm

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bdbrigni dorebt slvbrbgin hlnm sprboms 7?

Agxbm-baabkts Dlmbc 

]fb hbnkfdore spbkgagkotgln la tfb bstgdotgln la bquotgln (=.1) (spbkgag-

kotgln 8 gn tohcb =.;) gnkcumbs occ vorgohcbs. [pbkgagkotglns (;)‛(9) bxkcumbkbrtogn vorgohcbs (cgqugmgty gnmgkotlrs, gntbrbst rotbs) tfot wbrb alunm tl hbklccgnbor. [pbkgagkotgln ? gs prlvgmbm os o kldporgsln wgtf tfb hbnkfdoretl mbdlnstrotb tfb gdpokt la ommgni tfb agnonkgoc strbss gnmbx tl tfb bstg-dotglns. ]fb hbnkfdore spbkgagkotgln gs sotgsaoktlry gn tbrds la bxpcono-tlry plwbr (X8 la :.91), sgin, onm sgingagkonkb cbvbc. Occ klbaagkgbnts bxkbpttfb agskoc hoconkb onm tfb kurrbnt okklunt orb fgifcy stotgstgkoccy sgingag-kont. Occ klbaagkgbnts bxkbpt mbht tl rbsbrvbs onm mbht odlrtgzotgln fovbtfb bxpbktbm (nbiotgvb) sgins.

]fb sud la occ cgqugmgty gnmgkotlrs gs plsgtgvb, flwbvbr, suiibstgni tfotgn ibnbroc, irbotbr agnonkgni nbbms rbcotgvb tl cgqugm rbslurkbs gnkrbosbslvbrbgin hlnm sprboms. ]fgs gdpcgkotgln gs klnagrdbm hy spbkgagkotglns(;)‛(2), gn wfgkf tfb tfrbb cgqugmgty gnmgkotlrs usbm lnb ot o tgdb fovbplsgtgvb sgins, onm twl la tfbd (sflrt-tbrd mbht tl rbsbrvbs onm gntbrbstpoydbnts tl rbsbrvbs) orb fgifcy sgingagkont.

R.[. ]rbosury rotbs fovb tfb irbotbst gdpokt ln BDHG sprboms. Gn por-tgkucor, o ? pbrkbntoib plgnt gnkrbosb gn tfb ;-dlntf ]rbosury Hgcc rotbgnkrbosbs BDHG sprboms hy ohlut = pbrkbntoib plgnts5 o ? pbrkbntoib plgntgnkrbosb gn tfb tbrd sprbom hbtwbbn tfb ?:-ybor R.[. ilvbrndbnt hlnmonm tfb ;-dlntf ]rbosury Hgcc gnkrbosbs sprboms hy 9 pbrkbntoib plgnts.]fbrbalrb, hltf R.[. plcgky klnmgtglns onm tfb sclpb la tfb ygbcm kurvboaabkt bdbrigni dorebt hlnm sprboms.

]fb agnonkgoc strbss gnmbx gs ocsl fgifcy sgingagkont onm plsgtgvbcy klr-rbcotbm wgtf tfb sprbom cbvbc, gnmgkotgni tfot tfb gmglsynkrotgk agnonkgocbnvgrlndbnt gn o kluntry kon oaabkt tfb agnonkgni klnmgtglns la tfb slvbr-bgin. O suhstontgoc mrlp gn tfb klbaagkgbnt la mbtbrdgnotgln (X8) gs lhsbrvbmwfbn tfb bstgdotgln bxkcumbs tfb gnmbx (2 pbrkbnt), suiibstgni tfot tfbvorgohcb pcoys on gdplrtont rlcb gn bxpcogngni tfb sprbom cbvbc.

]fgs sbt la bstgdotglns gnmgkotbs tfot tfb agskoc hoconkb gs nlt klnsgstbntcystotgstgkoccy sgingagkont okrlss occ spbkgagkotglns, os suiibstbm hy tfb tfblrbt-gkoc arodbwlre. Nlt occ la tfbsb agnmgnis klnalrd wgtf tflsb la prbvglusstumgbs, wfgkf agnm tfot clkoc aoktlrs pcoy o dukf cbss gdplrtont rlcb tfonbxtbrnoc aoktlrs gn mbtbrdgngni sprboms ln gntbrnotglnoc slvbrbgin hlnms.Flwbvbr, on gnkrbosb gn tfb rotgl la mbht tl IMZ hy ? pbrkbntoib plgntgnkrbosbs sprboms hy ohlut ;.2 hosgs plgnts. Zrlvgmbm tfb gnkrbosb gn tfbmbht rotgl gs kousbm hy o fgifbr agskoc mbagkgt, gts gdpokt gs ocrbomy aoktlrbmgn. [pbkgagkotglns gn wfgkf gntbrbst poydbnts orb bxkcumbm sflw sgingagkont

klbaagkgbnts alr tfb agskoc hoconkb, suiibstgni o klcgnborgty gdpokt.

Zllcbm Dbon Irlup Dlmbc 

]fb ZDI dbtflm, wfgkf occlws sflrt-run porodbtbrs tl vory okrlsskluntrgbs, gs usbm tl bstgdotb bquotgln (=.9).; ]fb bstgdotbm clni-tbrd

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7   1  

R.[. ;-dlntf ]rbosuryHgcc rotb

=.:2?(;.18:)

8.:8;(;.6::)

8;.=:***(=.=79)

8;.?1***(=.2=?)

?9.?(9.=

[prbom hbtwbbn R.[. ?:-yboronm ;-dlntf rotb

6.?29*(=.=87)

9.:=2(=.112)

?1.9?***(1.;??)

8=.;=***(1.897)

8=.9(?:.=

R.[. ?:-ybor ilvbrndbnthlnm rotb

Brrlr klrrbktgln (pfg) ‛:.=82***(:.:17)

‛:.=1;***(:.:96)

‛:.;:6***(:.:1:)

‛:.;;6***(:.:26)

‛:.8(:.:

[flrt-tbrd klbaagkgbnt 

Bxtbrnoc mbht/IMZ 8.:79*(?.?21)

8.8=6*(?.;27)

?.1;=(?.:18)

8.2=:**(?.?26)

?.=(?.2

[flrt-tbrd mbht/rbsbrvbs :.972(:.119)

?.;=;*(:.929)

:.:=26(:.1;8)

Gntbrbst poydbnts/rbsbrvbs ‛=.92;(=.866)

‛6.981*(=.76:)

‛;.827(;.118)

Odlrtgzotgln/rbsbrvbs :.972

(:.966)

?.;=2

(:.78=)

?.8

(:.1

Agskoc hoconkb/IMZ ‛:.?26(:.=98)

:.:?9=(:.=9:)

:.6:8(:.2:;)

:.17;(:.2=?)

‛:.?(:.;

]ohcb =.=  (klntgnubm)

Klbaagkgbnt (?) (8) (;) (=) (

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7   9  

Kurrbnt okklunt/IMZ ?.682*(?.:7?)

?.871(?.8:6)

:.762(?.8:?)

?.:;:(?.82?)

:.1(:.6

Zlcgtgkoc rgse gnmbx ‛:.::6(:.::9)

‛:.::6(:.::9)

‛:.:?8(:.::9)

‛:.::1(:.::6)

‛:.:(:.:

Lpbnnbss ?.866(:.621)

?.=29**(:.1;7)

8.=92***(:.6?7)

8.1:;***(:.666)

8.?(:.7

Agnonkgoc strbss gnmbx :.:?6***(:.::2)

:.:8=***(:.::1)

:.:82***(:.::2)

:.:(:.:

R.[. ;-dlntf ]rbosuryHgcc rotb

‛;.2;7(;.1:1)

‛;.;8:(=.=9=)

‛6.62:**(;.96?)

‛?:.72***(=.?=9)

‛;.=(8.6

[prbom hbtwbbn R.[. ?:-yboronm ;-dlntf rotb

‛=.188**(?.7:7)

‛=.?79(8.7=6)

‛2.922***(8.?2=)

‛9.=?;***(8.=18)

‛=.8(?.7

R.[. ?:-ybor ilvbrndbnthlnm rotb

Klnstont ?.897***(:.8;?)

?.=8;***(:.82?)

:.1;:***(:.8?9)

:.6=7***(:.?79)

?.?(:.8

Nudhbr la lhsbrvotglns 2?9 =82 =82 =82 =

Nudhbr la kluntrgbs ?= ?8 ?8 ?8

[lurkb0 Outflrs.Nltb0 ]fb mbpbnmbnt vorgohcb gs tfb cli la tfb BDHG sprboms. [tonmorm brrlrs orb gn porbntfbsbs. BDHG

 *** [gingagkont ot tfb ?% cbvbc5 ** sgingagkont ot tfb 2% cbvbc5 * sgingagkont ot tfb ?:% cbvbc.

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76  hbccos, popoglonnlu, onm pbtrlvo

agnonkgoc strbss vorgohcbs, usgni BDHG sbklnmory dorebt sprboms. ]l mbtbr-dgnb tfb kflgkb la vorgohcbs, wb gntrlmukb o arodbwlre tfot fbcps us alrdkbrtogn prglrs. Yb usb o agxbm-baabkts dlmbc onm o mynodgk dlmbc, tfb ZDI

bstgdotgln tbkfngqub, wfgkf occlws us tl mgstgniugsf sflrt- arld clni-tbrdbaabkts. Yb occlw tfb sflrt-run porodbtbrs tl vory okrlss kluntrgbs, wfgkfgs opprlprgotb igvbn tfb kcustbrbm sflrt-tbrd noturb la tfb moto. ]fb rbsuctsorb sotgsaoktlry gn tbrds la sgin, sgingagkonkb, onm bxpconotlry plwbr.

Gn portgkucor, tfb rbirbssglns suiibst tfot gn tfb sflrt run, agnonkgocvlcotgcgty gs o dlrb gdplrtont mbtbrdgnont la sprboms tfon aunmodbntocgnmgkotlrs. ]fb sflrt-tbrd klbaagkgbnt la tfb agnonkgoc strbss gnmbx oppborstl hb fgifcy sgingagkont gn occ bstgdotglns, wfgcb tfb sflrt-tbrd klbaag-kgbnts la aunmodbntoc vorgohcbs orb cbss rlhust. ]fgs gs on gnnlvotgvb rbsuct

tfot bxtbnms tfb agnmgnis la Dlmy (8::7) onm ltfbr rbsborkfbrs wfl usbmuddy vorgohcbs alr krgsgs pbrglms tl sflw tfb klrrbcotgln hbtwbbn agnon-kgoc vlcotgcgty onm slvbrbgin sprboms.

Lur agnmgnis klnagrd tfot gn tfb clni run, aunmodbntocs orb sgingagkontmbtbrdgnonts la bdbrigni dorebt slvbrbgin hlnm sprboms. Flwbvbr, ltfbraoktlrs, sukf os plcgtgkoc gnstohgcgty, klrruptgln, onm osyddbtry la gnalr-dotgln, doy ocsl oaabkt tfb sprbom cbvbc, igvbn tfbgr pltbntgoc gdpokt lntfb ohgcgty la ilvbrndbnts tl rbpoy tfbgr hlnmflcmbrs. Gn tfgs rbiorm, wbsflw tfot plcgtgkoc rgse gs on gdplrtont clni-tbrd mbtbrdgnont la slvbr-bgin hlnm sprboms.

Nltbs

]fb vgbws bxprbssbm gn tfgs kfoptbr orb tflsb la tfb outflrs onm sflucm nlt hb ottrgh-utbm tl tfb Gntbrnotglnoc Dlnbtory Aunm, gts Bxbkutgvb Hlorm, lr gts donoibdbnt.

  ?. Nlnb la tfb kluntrgbs gnkcumbm gn tfb bdpgrgkoc onocysgs vglcotbm tfgs klnmg-tgln murgni tfb pbrglm klvbrbm hy tfb stumy.

  8. Yb ldgttbm sldb vorgohcbs usbm gn tfb cgtbroturb. Dlrb kldpcbx dlmbcsgnkcumb bxtbrnoc kldpbtgtgvbnbss gnmgkotlrs, sukf os bxkfonib rotbs (Hlrml, Dbgssnbr,

onm Ybgmbndgbr 8::75 DkIbb 8::2), wfgkf oaabkt tromb oktgvgty onm agskoc sustogn-ohgcgty. Lur dlmbc gnkcumbs o tromb-rbcotbm gnmgkotlr”tromb, mbagnbm os tfb rotgl la tfbsud la bxplrts onm gdplrts onm IMZ”os o prlxy alr kldpbtgtgvbnbss. Hbkousb donygnmbhtbm bdbrigni dorebt bklnldgbs orb klddlmgty bxplrtbrs, ltfbr stumgbs usb ongnmbx la klddlmgty prgkbs. Yb opprlxgdotb tfgs oktgvgty hy lpbnnbss onm IMZ.

;. Agsfbr-typb ungt rllt tbsts (Mgkeby-Auccbr onm Zfgccgps-Zbrrln), wfgkf orbopprlprgotb alr unhoconkbm ponbc moto, rb`bkt tfb ungt rllt fypltfbsgs ot tfb 2 pbr-kbnt cbvbc alr occ vorgohcbs. Zbsoron, [fgn, onm [dgtf (?777) sflw tfot klnsgstbnkyonm osydptltgk nlrdocgty la tfb ZDI bstgdotlr orb bstohcgsfbm unmbr stonmormklnmgtglns igvbn stotglnorgty.

Xbabrbnkbs

Hocoergsfnon, X., [. Monngnibr, [. Bcbemoi, onm G. ]ytbcc. 8::7. –]fb ]ronsdgssglnla Agnonkgoc [trbss arld Omvonkbm tl Bdbrigni Bklnldgbs.— GDA YlregniZopbr :7/?;;, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

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bdbrigni dorebt slvbrbgin hlnm sprboms 77

Hocmokkg, B., [. Iupto, onm O. Dotg. 8::6. –Gs Gt ([tgcc) Dlstcy Agskoc< Mbtbrdgnontsla [lvbrbgin [prboms gn Bdbrigni Dorebts.— GDA Ylregni Zopbr :6/827, Gntbr-notglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Hoctoig, F. H., onm @. D. Irgaagn. ?779. –Zllcbm Bstgdotlrs vs. ]fbgr Fbtbrlib-nblus Kluntbrports gn tfb Klntbxt la Mynodgk Mbdonm alr Ioslcgnb.— @lurnocla Bklnldbtrgks 99 (8)0 ;:;‛89.

Hlrml, D. M., K. D. Dbgssnbr, onm D. M. Ybgmbndgbr. 8::7. –Gmbntgaygni tfb Baabktsla on Bxkfonib Xotb Mbprbkgotgln ln Kluntry Xgse0 Bvgmbnkb arld o NoturocBxpbrgdbnt.— @lurnoc la Gntbrnotglnoc Dlnby onm Agnonkb 86 (1)0 ?:88‛==.

Hlym, M., onm X. [dgtf. 8:::. [ldb Bklnldbtrgk Gssubs gn Dbosurgni tfb Dln-btory ]ronsdgssgln Dbkfongsd, wgtf on Oppcgkotgln tl Mbvbclpgni Kluntrgbs.Hgrehbke Klccbib Mgskussgln Zopbr gn Bklnldgks ?2, Rngvbrsgty la Clnmln.

Kokbrbs, K., Q. Iuzzl, onm D. [bilvgonl. 8:?:. –[lvbrbgin [prboms0 Iclhoc XgseOvbrsgln, Klntoigln lr Aunmodbntocs<— GDA Ylregni Zopbr ?:/?8:, Gntbrno-tglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Mogcodg, D., Z. X. Dossln, onm @. @. Zomlu. 8::6. –Iclhoc Dlnbtory Klnmgtglnsvbrsus Kluntry-[pbkgagk Aoktlrs gn tfb Mbtbrdgnotgln la Bdbrigni Dorebt Mbht[prboms.— @lurnoc la Gntbrnotglnoc Dlnby onm Agnonkb 89 (6)0 ?;82‛;1.

Mbcc‗Orgkkgo, I., G. Ilbmmb, onm @. Pbttbcdbybr. 8:::. –Dlroc Fozorm gn Gntbr-notglnoc Krgsgs Cbnmgni0 O ]bst.— GDA Ylregni Zopbr :8/?6?, GntbrnotglnocDlnbtory Aunm, Yosfgnitln, MK.

Bhnbr, O. 8::7. –On Bdpgrgkoc Onocysgs ln tfb Mbtbrdgnonts la KBB IlvbrndbntHlnm [prboms.— Bdbrigni Dorebt Xbvgbw ?: (8::7)0 79‛?8?.

]fb Bklnldgst Gntbccgibnkb Rngt. 8::7. Kluntry Xgse Dlmbc (vorglusgssubs). Clnmln. fttps0//bgu.hvmbp.kld/vbrsgln-8:?:986/kig/tbdpcotb.mcc<prlmukt4?:2&usbr4gpommrbss.

Bgkfbnirbbn, H., onm O. Dlmy. ?776. –Yfot Bxpcogns Kfonigni [prboms ln BDMbht0 Aunmodbntocs lr Dorebt [bntgdbnt<— NHBX Ylregni Zopbr 1=:6,Notglnoc Hurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

Abrrukkg, I. 8::;. –Bdpgrgkoc Mbtbrdgnonts la Bdbrigni Dorebt Bklnldgbs‗ [lv-brbgin Hlnm [prboms.— Hone la Bniconm Ylregni Zopbr 8:2, Clnmln.

Ilcmdon [okfs. 8:::. –O Nbw Arodbwlre alr Ossbssgni Aogr Qocub gn BDs‗ FormKurrbnky Mbht.— Iclhoc Bklnldgks Zopbr =2, Nbw Wlre.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::7o. Iclhoc Mbvbclpdbnt [totgstgks. Yosf-

gnitln, MK0 Gntbrnotglnoc Dlnbtory Aunm.”””. 8::7h. Gntbrnotglnoc Agnonkgoc [totgstgks. Yosfgnitln, MK0 Gntbrnotglnoc

Dlnbtory Aunm.

”””. 8::7k. Ylrcm Bklnldgk Lutclle. Yosfgnitln, MK0 Gntbrnotglnoc Dln-btory Aunm.

Eodgn, [. H., onm E. Ecbgst. ?777. –]fb Bvlcutgln onm Mbtbrdgnonts la BD Krbmgt[prboms gn tfb ?77:s.— Gntbrnotglnoc Agnonkb Mgskussgln Zopbr 12;, Hone alrGntbrnotglnoc [bttcbdbnts, Hosbc.

DkIbb, K. M. 8::2. –[lvbrbgin Hlnm Dorebt wgtf Zlcgtgkoc Xgse onm Dlroc Foz-orm.— Gntbrnotglnoc Xbvgbw la Bklnldgks & Agnonkb ?1 (8)0 ?61‛8:?.

Dgn, F. I. ?776. –Mbtbrdgnonts la BD Hlnm [prbom0 Ml Bklnldgk AunmodbntocsDottbr<— Ylrcm Hone Ylregni Zopbr gn Gntbrnotglnoc Bklnldgks, ]romb, onmKopgtoc Aclws ?677, Yosfgnitln, MK.

Dlmy, O. 8::7. –Arld Hbor [tborns tl Onicl Grgsf0 Flw Burlzlnb [lvbrbgin Hlnm[prboms Xbcotbm tl Agnonkgoc [bktlr Qucnbrohgcgty.— GDA Ylregni Zopbr :7/?:6,Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

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?:8  mogcodg

onm 8::7 (=,==? tronsoktglns, odluntgni tl $?.=1 trgccgln), G mbvbclpon bdpgrgkoc dbtflmlcliy tl onocyzb wfbtfbr slvbrbgin rgse gs prgkbmgntl klrplrotb hlnm sprboms, klntrlccgni alr spbkgagk hlnm ottrghutbs onm

klddln iclhoc rgse aoktlrs. G dlmbc bdbrigni klrplrotb hlnm sprbomsos gnklrplrotgni tfrbb rgse prbdguds0 klrplrotb mbaouct, fldb-kluntryslvbrbgin mbht mgstrbss, onm kldpbnsotgln alr tfb aokt tfot bdbrigni hlnmdorebt sprboms vory systbdotgkoccy wgtf iclhoc husgnbss kykcbs onm wgtficlhoc agnonkgoc dorebt klnmgtglns.

Klvbrgni 27 kluntrgbs onm bnkldpossgni vgrtuoccy occ do`lr bdbrignidorebt krgsbs la tfb post twl mbkombs,? tfb moto sbt gs suaagkgbntcy rgkf tlocclw o dlrb rgilrlus gnvbstgiotgln la tfb cgne hbtwbbn slvbrbgin onmklrplrotb krbmgt rgse tfon fos hbbn plssghcb tl motb. ]fb ungqub noturb la

bokf krgsgs fgttgni bdbrigni dorebts lvbr tfb post twl mbkombs prlvgmbson ommgtglnoc mbirbb la vorgonkb tfot occlws gmbntgagkotgln la unmbrcygnibklnldgk dbkfongsds onm kfonnbcs. O klddln strgni runngni tfrluifocc la tfbsb bpgslmbs fos hbbn gntbnsb rgse ovbrsgln onm tfb klnsbqubntwgmbngni la hlnm sprboms os gnvbstlrs fovb slcm laa bdbrigni dorebtossbts gn rbsplnsb tl pbrkbgvbm clkoc lr iclhoc rgse aoktlrs.

]fb rbst la tfb kfoptbr gs lriongzbm os alcclws. ]fb nbxt sbktgln fgif-cgifts tfb irlwgni gdplrtonkb la klrplrotb mbht gn tfb bxtbrnoc agnonkgocprlagcb la bdbrigni dorebt bklnldgbs onm prlvgmbs bstgdotbs la klrplrotbmbht rbagnonkgni kldgni mub gn tfb nbxt abw ybors. ]fb alcclwgni sbktglnprbsbnts o twl-pbrglm dlmbc la klrplrotb hlnm prgkb vocuotgln gn tfbprbsbnkb la slvbrbgin rgse tl dltgvotb tfb bdpgrgkoc onocysgs onm rbplrtstfb dogn rbsucts onm agnmgnis. ]fb cost sbktgln klnkcumbs wgtf o mgskussglnla plcgky rbklddbnmotglns onm eby gssubs worrontgni auturb rbsborkf onmottbntgln.

]fb Irlwgni Gdplrtonkb la Bdbrigni DorebtKlrplrotb Mbht

]fb gnkrbosgni bnioibdbnt la klrplrotglns arld mbvbclpgni kluntrgbs gniclhoc gnvbstdbnt onm agnonkb fos hbbn o mbagngni aboturb la agnonkgni lambvbclpdbnt gn tfb agrst mbkomb la tfb 8?st kbntury. Os slvbrbgin mbdonmalr bxtbrnoc agnonkgni mbkcgnbm gn tfb do`lrgty la mbvbclpgni kluntrgbs gntfb ybors cbomgni up tl tfb krgsgs la 8::6‛:7, dorebt ottbntgln sfgatbm tltfb klrplrotb sbktlr, wfgkf laabrbm o nbw ibnbrotgln la bdbrigni dor-ebt krbmgt onm bqugty prlmukts. Gn dony rbspbkts, tfb dorebt alr bdbri-gni dorebt krbmgt fos sfgatbm tlworm tfb klrplrotb sbktlr (bnkldpossgni

hltf prgvotb onm puhcgk bntgtgbs, sukf os stotb-lwnbm hones onm puhcgkbntbrprgsbs), wgtf gdpcgkotglns alr okkbss tl agnonkb, mbht sustognohgcgty,onm clni-tbrd gnvbstdbnt onm irlwtf. Gn tfb mbkomb cbomgni up tl tfb8::6‛:7 krgsgs, tfb bdbrigni dorebt klrplrotb hlnm dorebt bvlcvbm gntlo rlhust, vbrsotgcb, onm oktgvb dorebt laabrgni klnsgmbrohcb alrbgin aunmgni

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ?:;

lpplrtungtgbs okrlss do`lr kurrbnkgbs onm `urgsmgktglns tl dony hcub-kfgpkldpongbs hosbm gn Cotgn Odbrgko, Osgo, onm tfb Dgmmcb Bost. Arld 8::8tl tfb bnm la 8::9, 989 prgvotbcy lwnbm bdbrigni dorebt kldpongbs

toppbm gntbrnotglnoc hlnm dorebts tl rogsb o tltoc la $;;1.9 hgccgln laalrbgin mbht kopgtoc. Bosy agnonkgni klnmgtglns ocsl aokgcgtotbm okkbss tl tfbgntbrnotglnoc synmgkotbm clon dorebt, wgtf ?,26= bdbrigni dorebt prgvotbagrds ilgni tl lvbrsbos dorebts tl rogsb o tltoc la $1=:.= hgccgln la alrbgin-kurrbnky krbmgt tfrluif 8,272 clons. ]ltoc alrbgin kopgtoc rogsbm tfrluifhlnms onm synmgkotbm clons murgni tfgs pbrglm odluntbm tl $799 hgccgln,up arld $888 hgccgln hbtwbbn ?777 onm 8::? (agiurb 2.?). Dony kld-pongbs hlrrlwbm prgdorgcy tl agnonkb lgc onm ios lr honegni lpbrotglnslr tl aunm oiirbssgvb krlss-hlrmbr dbribr onm okqugsgtgln (D&O) mbocs.

Ductgnotglnoc kldpongbs hosbm gn bdbrigni dorebts unmbrtlle dlrb tfon629 krlss-hlrmbr okqugsgtgln mbocs wlrtf $?:9 hgccgln gn 8::6, up arld8;7 sukf mbocs gn 8::: wlrtf $?8 hgccgln (Mogcodg 8:?:).

Zrgvotb sbktlr hlrrlwgni gn bdbrigni dorebts irbw murgni 8::8‛:9ot o dukf aostbr pokb tfon puhcgk sbktlr hlrrlwgni, surigni tl okklunt

Agiurb 2.? Zrgvotb Klrplrotb Alrbgin Mbht Gssuonkb gn

Bdbrigni Dorebts, ?776‛8::7

[lurkb0 Outflr, hosbm ln moto arld Mbocligk MKD Onocytgks.

2::

=2:

=::

;2:

;::

82:

8::

   h   g   c   c   g  l  n

  s  l   a   m  l   c   c  o  r  s

  n  u  d   h  b  r  l   a   m  b  o   c  s

?2:

?::

2:

:

?,:::

7::

6::

9::

1::

2::

=::

;::

8::

?::

:

  ?   7   7   6

  ?   7   7   7

   8   :   :   :

   8   :   :  ?

   8   :   :   8

   8   :   :   ;

   8   :   :  =

   8   :   :   2

   8   :   :   1

   8   :   :   9

   8   :   :   6

   8   :   :   7

hlnm (cbat oxgs)nudhbr la clons (rgift oxgs) nudhbr la hlnms (rgift oxgs)

clons (cbat oxgs)

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ?:9 

clon-spbkgagk kforoktbrgstgks onm klvbnont kcousbs”wgcc mgktotb tfb vlcudbla doturgni clons tfot doebs gts woy gntl hlnm dorebts. Ossudgni 82 pbr-

kbnt la prgvotb klrplrotb hlrrlwbrs mbkgmb tl rbagnonkb gn hlnm dorebts,gssuonkb vlcudbs lrgignotgni arld tfgs slurkb wlucm hb ln tfb lrmbr la$9? hgccgln gn 8:?:, $29 hgccgln gn 8:??, onm $;= hgccgln gn 8:?8.

Zursugt la krlss-hlrmbr D&O os port la ductgnotglnoc kldpongbs‗irlwtf onm bxponsgln strotbigbs gs ocsl bxpbktbm tl klntrghutb tl tfbrbhlunm gn bdbrigni dorebt klrplrotb hlnm gssuonkb gn tfb kldgniybors. Mbtogcbm moto ln tfb poydbnts la D&O mbocs gnvlcvgni bdbri-gni dorebt kldpongbs orb nlt mgskclsbm, hut sukf mbocs kon hb aunmbmtfrluif kosf, sforb swops, lr krbmgt. Gt kon hb ossudbm tfot agrds gn

bdbrigni dorebts, wgtf tfb do`lr bxkbptgln la stotb-lwnbm Kfgnbsbagrds, rbcy ln hlnm dorebts tl aunm tfbgr tronsoktglns. ]fb bstgdotbmodlunt la nbw gssuonkbs orgsgni arld mbdonm alr krlss-hlrmbr D&O gsprl`bktbm tl hb $=; hgccgln gn 8:?:, $=9 hgccgln gn 8:??, onm $28 hgccglngn 8:?8 (agiurb 2.2).

Agiurb 2.2 Zrl`bktbm Bdbrigni Klrplrotb Hlnm DorebtXbagnonkgni Nbbms, 8:?:‛?;

8::

   h

   g   c   c   g  l  n  s  l   a   m  l   c   c  o  r  s

?1? ?1?

?;8

?:2

?2:

?::

2:

:

8:?: 8:?? 8:?8 8:?;

krlss-hlrmbr dbribr onm okqugsgtgln aunmgni bxkcumgni tronsoktglns gn

wfgkf okqugrgni kldpony gs hosbm gn Kfgno

doturgni clons (bstgdotbm gntbrnotglnoc clon prgnkgpoc rbpoydbnt tfot

nbbms tl hb agnonkbm tfrluif gntbrnotglnoc hlnm dorebt)

doturgni hlnms

[lurkb0 Outflr‗s kockucotglns.

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?:6  mogcodg

Mbtbrdgnonts la Bdbrigni Dorebt Klrplrotb Mbht[prboms gn tfb Zrbsbnkb la [lvbrbgin Xgse

[tonmorm klrplrotb hlnm vocuotgln dlmbcs la strukturoc onm rbmukbm-alrdtypbs mldgnotb tfb cgtbroturb gn klrplrotb agnonkb gn omvonkbm kluntrgbs(sbb, alr bxodpcb, Hcoke onm Klx ?7915 Muaagb onm [gnicbtln ?7775 @orrlwonm ]urnhucc ?7725 Clnistoaa onm [kfwortz ?7725 Dbrtln ?79=). ]fbsbdlmbcs trbot slvbrbgin mbht os o rgse-arbb ossbt tfot gs trombm gn kopgtocdorebts hosbm ln gntbrbst rotb rgses rotfbr tfon krbmgt rgses. Okklrmgnicy,klrplrotb hlnm prgkbs mbpbnm ln gmglsynkrotgk rgse aoktlrs spbkgagk tl tfbgssugni kldpony, wgtf puhcgk mbht pcoygni on gnmgrbkt rlcb tl tfb bxtbnt tfotgt gs hbcgbvbm tl oaabkt tfb tbrd strukturb la gntbrbst rotbs. Ygtf klnkbrns lvbrslvbrbgin krbmgtwlrtfgnbss ossudbm owoy, tfbrb wos, tfus, cgttcb nbbm tl poyottbntgln tl lr bxpcgkgtcy dlmbc tfb cgne hbtwbbn slvbrbgin onm klrplrotbkrbmgt rgse gn tfb prgkgni la klrplrotb hlnms gn omvonkbm kluntrgbs.

Gn bdbrigni dorebts”os gn fgifcy gnmbhtbm omvonkbm kluntrgbs”tfbqubstgln la flw slvbrbgin krbmgt rgse oaabkts klrplrotb sbktlr hlrrlwgnign gntbrnotglnoc dorebts klddonms bxpcgkgt ottbntgln, os slvbrbgin krbmgtrgse fos hbbn on gnfbrbnt kforoktbrgstgk aboturb la tfb ossbt kcoss tfot fosoaabktbm flw gnvbstlrs fovb kldb tl klnmukt tromb onm alrd vgbws lndorebt mbvbclpdbnts. Arld gts gnkbptgln gn tfb borcy ?77:s, tfb bdbrigni

slvbrbgin hlnm dorebt fos hbbn vgbwbm onm prgkbm os o rgsey ossbt, kld-porohcb gn dony woys tl tfb R.[. fgif-ygbcm hlnm ossbt kcoss. ]fb dorebt‗somvbnt, gn tfb borcy ?77:s, gs trokbm tl tfb klnvbrsgln la prlhcbd honeclons gntl klccotbrocgzbm dorebtohcb hlnm gnstrudbnts unmbr tfb Hromypcon. ]fus, o eby prglrgty gn rbsborkf ln tfb mbtbrdgnonts la klrplrotbkrbmgt sprboms gn bdbrigni dorebts gs tfb qubstgln la flw slvbrbgin rgsepbrkbptglns orb cgebcy tl sfopb tfb tbrds la klrplrotb okkbss tl gntbrno-tglnoc kopgtoc dorebts.

Fgifbr slvbrbgin krbmgt rgse spgccs lvbr tl tfb klrplrotb sgmb tfrluif

tfrbb kfonnbcs. ]fb agrst gs tfb plssghgcgty la rbmukbm cgqugmgty, os irlwgnidorebt klnkbrns ohlut o kluntry‗s slvbrbgin mbht cbom tl o mrlp gn rgseoppbtgtb okrlss occ mbht gssubrs gn o kluntry. Gn turn, gnvbstlrs‗ pbrkbptglnla irbotbr systbdgk slvbrbgin rgse tronscotbs gntl fgifbr rgse prbdguds,wfgkf dust hb ommbm tl tfb prgkb la klrplrotb sbkurgtgbs laabrbm ln lvbr-sbos dorebts. Hbkousb tfb prgkgni la klrplrotb hlnms gs typgkoccy hosbm lntfb slvbrbgin kurvb onm slvbrbgin mbht hbors prgdorgcy dokrlbklnldgkrgses, o strukturoc cgne bxgsts hbtwbbn slvbrbgin onm klrplrotb hlnms. ]fgscgne gs rbgnalrkbm gn bdbrigni dorebt bklnldgbs hy cgdgtbm cgqugmgty gn tfbbdbrigni dorebt ossbt kcoss gn ibnbroc onm gn klrplrotb ossbts gn portgkucor.

Aurtfbrdlrb, tfgs dbkfongsd gs cgebcy tl lpbrotb gn bdbrigni dorebts wgtfcorib klrplrotb bxtbrnoc mbht rbagnonkgni nbbms. Gt gs portgkucorcy cgebcyodlni hlrrlwgni kldpongbs rbagnonkgni arld tfb gntbrnotglnoc hone-gni dorebt, wfbrb mbspgtb sgingagkont bosgni sgnkb tfb klccopsb la Cbfdon

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ?:7

Hrltfbrs gn [bptbdhbr 8::6, cgqugmgty klnmgtglns rbdogn fgifcy vucnbrohcbtl hone hoconkb sfbbt onm aunmgni prbssurbs. Ygtf os dukf os $72? hgc-cgln la bdbrigni dorebt klrplrotb mbht doturgni lvbr 8:?:‛?=, tfb rgse

plsbm hy rbmukbm cgqugmgty gs sbrglus onm worronts ottbntgln, bspbkgoccy gnBurlpb, wflsb hones flcm tfb cgln‗s sforb la bdbrigni dorebt klrplrotbbxtbrnoc mbht.

]fb sbklnm dbkfongsd tfrluif wfgkf slvbrbgin krbmgt rgse kon spgcclvbr tl tfb klrplrotb sgmb rbcotbs tl agskoc spokb onm tfb aokt tfot fgifcygnmbhtbm ilvbrndbnts fovb cbss sklpb tl usb agskoc plcgky tl prlvgmb okusfgln alr klrplrotb hlrrlwbrs tl aocc hoke ln gn on bnvgrlndbnt laklnstrognbm krbmgt. Gn proktgkb, tfgs doy dbon tfot mbht-mgstrbssbm ilvbrn-dbnts orb cgdgtbm gn tfbgr ohgcgty tl laabr tfb iuorontbbs tfot orb ibnbroccy

rbqugrbm alr do`lr klrplrotb mbht rbstrukturgnis.8

O tfgrm dbkfongsd gs agskoc om`ustdbnt gn kluntrgbs wgtf fgif cbvbcsla ilvbrndbnt mbht, wfgkf kon cbom tl suhstontgoc spgcclvbr baabkts arldslvbrbgin tl klrplrotb mbht, os tgift agskoc plcgky kon fovb nbiotgvb rbocbklnldy klnsbqubnkbs tfot omvbrsbcy oaabkt klrplrotb borngnis onm prla-gtohgcgty. Ygtfgn tfb klrplrotb sbktlr, honegni gs dlst suskbptghcb tl slv-brbgin strbss, os hones‗ aunmgni klsts rgsb wgtf slvbrbgin sprboms hbkousbla tfb pbrkbptgln tfot mldbstgk hones flcm o corib vlcudb la ilvbrndbntsbkurgtgbs onm tfot ilvbrndbnt iuorontbbs orb wlrtf cbss gn on bnvgrln-dbnt la slvbrbgin strbss.

]fb aokt tfot dlst agrds gn bdbrigni dorebts toppgni gntbrnotglnoc mbhtdorebts orb corib onm rbcotgvbcy fgifcy cbvbroibm rogsbs tfb plssghgcgty tfotklrplrotb mbht mgstrbss klucm ocsl spgcc lvbr tl tfb slvbrbgin sgmb, os (agnon-kgoc onm nlnagnonkgoc) klrplrotglns gn mgstrbss doy rbqugrb ilvbrndbntsupplrt, bgtfbr mgrbktcy lr gnmgrbktcy, tfrluif ilvbrndbnt gnvlcvbdbnt gntfb prlkbss la klrplrotb mbht rbstrukturgni onm wlreluts. Octfluif klr-plrotb mbaouct gn bdbrigni bklnldgbs wos rbcotgvbcy klntognbm murgni tfbagnonkgoc krgsgs, tfb corib vlcudb la bxtbrnoc klrplrotb mbht lutstonmgnionm gts kldpcbx prlagcb rbdogn o slurkb la wlrry onm klnkbrn.

Onocytgkoc Arodbwlre

]l gccustrotb flw slvbrbgin rgse kon oaabkt tfb klrplrotb hlnm dorebt,G hbign wgtf o fgifcy sgdpcgagbm dlmbc la klrplrotb hlnm prgkb vocuotglngn o twl-pbrglm dlmbc tfot gnklrplrotbs hltf klrplrotb onm slvbrbginrgse. ]fb opprlokf gs gn tfb spgrgt la tfb Dbrtln (?79=) strukturoc dlmbc,wgtf tfb ommbm kldpcbxgty tfot tfb agrd‗s kosf aclws orb klntgnibntnlt lncy ln gts lwn gnvbstdbnt gn rboc ossbts hut ocsl ln tfb agnonkgoc

fboctf la gts fldb kluntry ilvbrndbnt. Gn tfb prbsbnkb la slvbrbgin rgse,gnvbstlrs‗ ossbssdbnt la tfb agrd‗s sbkurgtgbs mbpbnms ln hltf tfb agrd‗sspbkgagk aoktlrs onm tfb prlhohgcgty tfot tfb slvbrbgin runs gntl agnonkgocprlhcbds tfot hbor ln tfb agrd‗s ohgcgty onm kopokgty tl sbrvgkb gts mbhtlhcgiotglns gn o tgdbcy donnbr.

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??:  mogcodg

Klnsgmbr o agrd gssugni o hlnm wgtf o aokb vocub la A  mlccors ot tgdbt  4 : tl agnonkb o prl`bkt wgtf o ronmld kosf aclw la V  mlccors (gn alrbgin-kurrbnky bqugvocbnkb) tl hb rbocgzbm ot tgdb ?. G mbagnb V  tl gnkcumb tfb cgq-

ugmotgln vocub la ossbts nbt la lpbrotgni klsts. ]fb mbht klntrokt gs o agxbmlhcgiotgln tfot prldgsbs tl poy $M (wfgkf gnkcumbs gntbrbst onm prgnkgpoc)ot tgdb t 4 ?. ]l gnklrplrotb slvbrbgin rgse, G mbagnb o ronmld vorgohcb P,wfgkf toebs, alr sgdpcgkgty, twl vocubs0 : wgtf prlhohgcgty p, gnmgkotgni tfottfb slvbrbgin gs gn agnonkgoc mgstrbss, onm ? wgtf prlhohgcgty ?‛ p, gnmgkot-gni tfot tfb slvbrbgin gs slcvbnt. Gn tfb kosb la slvbrbgin mgstrbss, tfb agrd‗sohgcgty tl sbrvgkb gts mbht lhcgiotgln gn o tgdbcy donnbr gs omvbrsbcy oaabktbmhy o kldhgnotgln la aoktlrs”on bklnldywgmb mlwnturn, tfb tgiftbngni labxtbrnoc cgqugmgty klnmgtglns, bxkfonib rotb mbprbkgotgln lr klntrlcs”tfot

kon tronscotb gntl o mlwnworm sfgat gn tfb agrd‗s kosf aclw mgstrghutgln.Ygtf tfgs sbtup, tfb poylaa tl hlnm flcmbrs, W ˓ , wgcc hb o aunktgln la hltf

slvbrbgin onm klrplrotb rgses0

 

W i V,M,P

M,V ga P

M,V ga P4 4

  4

4

( )

dgn( )

dgn( )

?

:ο  , 

(2.?)

wfbrb :3 ?, onm dgn( ).

ο  ≭ 4  ≢

3

M,V 

M ga V M

V ga V M

 

 

(2.8) 

Gn tfb ibnbroc kosb, gn wfgkf V (prl`bkt kosf aclw) onm P  orb nltgnmbpbnmbnt, klnmgtglnoc mgstrghutglns orb nlt gmbntgkoc. Aurtfbrdlrb,G ossudb tfot tfb klnmgtglnoc mgstrghutglns la V ˓  igvbn P˓  orb nlrdoc, wgtfdbons  d 

?,  d 

8 onm vorgonkbs ϋ ϋ ?

888, . ]fus, tfb bxpbktbm rbturn tl hlnmflcm-

brs kon hb bxprbssbm os alcclws0

B W p xa x z mx M a x z mx

 p xa 

M

M

M

( ) ( | :) ( | :)

(? ) (

?:

?

8:

  4 4 + 4

+ ∘

∥ ∥ 

∥ 

ο ∞

xx z mx M a x z mxM| ?) ( | ?) ,84 + 4

∥ 

  (2.;)

wfbrb a ?(x) onm a 

8(x) orb tfb klnmgtglnoc mbnsgty prlhohgcgty aunktglns la V ˓  

unmbr tfb twl skbnorgls la P 4 : onm P 4 ?. Bquotgln (2.;) mbskrghbs tfbbxpbktbm vocub la tfb rbturn tl hlnm flcmbrs os o wbgiftbm ovbroib la tfbbxpbktbm vocubs kockucotbm sbporotbcy alr tfb kosbs gn wfgkf tfb ilvbrn-dbnt gs lr gs nlt gn mgstrbss, wgtf tfb wbgifts rbacbktgni tfb rbspbktgvbprlhohgcgtgbs la sukf bvbnts.

Rnmbr tfb ossudptgln tfot krbmgtlrs orb rgse nbutroc, tfb dorebt prgkb

la klrplrotb mbht Q  gs tfb prbsbnt vocub la B(W ˓ ), mgskluntbm ot tfb gntbr-notglnoc rgse-arbb rotb la gntbrbst, r0

Q B W 

r4

+

( ).

?  (2.=)

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ???

]l ossbss flw klrplrotb hlnm prgkbs mbpbnm ln slvbrbgin mbaouct rgse,G sgducotb bquotgln (2.=) alr mgaabrbnt porodbtbr vocubs (sbb agiurb 2.1).G ossudb tfot tfb sforb la alrbgin kurrbnky clon pogm hoke gn tfb kosb la

kluntry mbaouct (ο) gs 1: pbrkbnt, tfot tfb klrplrotb kosf aclw unmbr tfbtwl skbnorgls la wfbtfbr tfb ilvbrndbnt gs gn agnonkgoc mgstrbss lr nlt alc-clws klnmgtglnoc nlrdoc mgstrghutgln mgspcoybm gn agiurb 2.9, onm tfot tfbstonmorm mbvgotgln gs 82 pbrkbnt onm gnkrbosbs hy ;: pbrkbnt ga tfb kluntrymbaoucts. ]fb poydbnt lhcgiotgln wos lhtognbm hy oppcygni on gntbrbstrotb la 9.2 pbrkbnt tl tfb mbht aokb vocub la ?::. Xogsgni tfb prlhohgcgtyla slvbrbgin mbaouct arld 8.6 pbrkbnt (klrrbsplnmgni tl o krbmgt mbaouctswop sprbom la ?8: hosgs plgnts) tl 8;.6 pbrkbnt (klrrbsplnmgni tl o krbmgtmbaouct swop sprbom la 68: hosgs plgnts) rbsucts gn o 7 pbrkbnt mbkrbosb gn

tfb klrplrotb hlnm prgkb.

Bklnldbtrgk Dbtflmlcliy onm [pbkgagkotgln

Yfbn prgkgni bdbrigni dorebt hlnm sbkurgtgbs gssubm gntbrnotglnoccy,gnvbstlrs toeb gntl okklunt dony rgse aoktlrs. ]fby ibnbroccy doeb o mgs-tgnktgln hbtwbbn hlnms gssubm hy puhcgk sbktlr bntgtgbs (ilvbrndbnt onmilvbrndbnt-lwnbm kldpongbs) onm tflsb laabrbm hy prgvotb hlrrlwbrs.]fby ocsl toeb gntl okklunt aoktlrs sukf os tfb stotb la tfb fldb klun-try dokrlbklnldy, iclhoc agnonkgoc dorebt klnmgtglns, onm hlnm- onm

Agiurb 2.1 [gducotgln Xbsucts alr Klrplrotb Hlnm Zrgkbs onmZrlhohgcgty la [lvbrbgin Mbaouct

[lurkb0 Outflr.Nltb0 Agiurb sflws tfb prgkb la o klrplrotb hlnm gssubm wgtf o aokb la ?::

tl agnonkb o prl`bkt wgtf o mbht tl bqugty rotgl la 20?.

?:;

76

   m  l   c   c  o  r  s

7;

66

6;

96

9;

16

1;

26

: 2 ?: ?2 8: 82 ;: ;2 =: =2 2: 22 1:

prlhohgcgty la slvbrbgin mbaouct lr rbstrukturgni (pbrkbnt)

12 9: 92 6: 62 7: 72 ?::

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??8  mogcodg

agrd-spbkgagk aoktlrs (doturgty, kurrbnky la mbnldgnotgln, ̀ urgsmgktgln, klv-bnonts, sbktlr, onm tfb aokt tfot klrplrotb rotgnis orb latbn suh`bkt tl slv-brbgin kbgcgnis). Xbacbktgni tfb gnacubnkb la sukf aoktlrs, gnvbstlrs typgkoccyottokf o fgifbr rgse prbdgud tl prgvotb tfon puhcgk hlnm gnstrudbnts.

Alrdoccy, tfb onocysgs la tfb rbcotglnsfgp hbtwbbn slvbrbgin onm klrpl-rotb rgse kbntbrs ln tfb alcclwgni sbt la rbirbssglns spbkgaygni slvbrbgin onmklrplrotb hlnm sprboms ot gssuonkb os o aunktgln la laabrgni tbrds5 kurrbnkyla mbnldgnotgln5 gnmustry5 onm vorglus dokrlbklnldgk, agnonkgoc, onm gnstg-tutglnoc klntrlc vorgohcbs alr bokf gssubr‗s fldb kluntry, os wbcc os iclhocagnonkgoc onm husgnbss kykcb klnmgtglns. [lvbrbgin sprboms orb igvbn hy

W s g`t s,` s `t s t s g, .+   ‸   +   ‸4 +ο    ‸θ φ λ  V Q P    (2.2)

Klrplrotb sprboms orb igvbn hy tfb bquotgln

W k g`t k,` k `t k t k g k, ,4 +   ‸   +   ‸   +   ‸   +   ‸ο θ φ λ ν   V Q P Y    (2.1)

wfbrb tfb suhskrgpts s onm k rbabr tl slvbrbgin onm klrplrotb5 g`t rbabrs tlhlnm g gssubm gn kluntry ` ot tgdb t 5 V

 `t  mbnltbs systbdotgk (dokrlbklnldgk)

Agiurb 2.9  Zrlhohgcgty Mgstrghutgln la Zrl`bkt Kosf Aclwunmbr ]wl [lvbrbgin Mbaouct [kbnorgls

[lurkb0 Outflr.Nltb0 a 

? 4 klnmgtglnoc mbnsgty prlhohgcgty mgstrghutgln la klrplrotb kosf

aclw wfbn z 4 :, wfgkf rbabrs tl tfb ilvbrndbnt‗s hbgni gn agnonkgoc mgstrbss5a 

8 4 klnmgtglnoc mbnsgty prlhohgcgty mgstrghutgln la klrplrotb kosf aclw wfbn

z 4 ?, wfgkf rbabrs tl tfb ilvbrndbnt‗s hbgni slcvbnt.

:.::8

:.::=

:.::1

:.::6

:.:?:

:.:?8

:.:?=

:.:?1

² z 4 : 4 ?81 ² z  4 ? 4 ?;6

a ?   a 8

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ??;

aoktlrs5 Qt  mbnltbs iclhoc rgse aoktlrs5 P

g mbnltbs hlnm-spbkgagk aboturbs 5

onm Y mbnltbs agrd-spbkgagk kforoktbrgstgks.

]fb bklnldbtrgk onocysgs la klrrbcotgln rgse hbtwbbn bdbrigni dor-

ebt prgvotb klrplrotb hlrrlwbrs onm tfbgr fldb slvbrbgins gs hosbm lno sodpcb la =,==? hlnm gssuonkbs mbnldgnotbm gn R.[. mlccors lr burlslaabrbm hy tfb ilvbrndbnt, puhcgk klrplrotglns, onm prgvotb klrplro-tglns gn 27 bdbrigni bklnldgbs hbtwbbn ?772 onm 8::7.; ]fb sodpcbrbprbsbnts o wgmb krlss-sbktgln la gssubs hy kluntry, gnmustry, onm hlnmottrghutbs, gnkcumgni doturgty, odlunt, klupln, rotgni, onm oppcgkohcbcow onm `urgsmgktgln (tohcb 2.?). ]ltoc kopgtoc rogsbm odluntbm tl $?.=trgccgln, 6: pbrkbnt la gt gn mlccor-mbnldgnotbm hlnms onm tfb rbst gnburl-mbnldgnotbm hlnms. [lvbrbgin hlnms (hlnms gssubm hy ilvbrn-

dbnts, ilvbrndbnt oibnkgbs, onm puhcgk klrplrotglns wflsb poydbntsorb iuorontbbm bxpcgkgtcy hy ilvbrndbnts) okklunt alr 1: pbrkbnt latltoc gssuonkb vlcudb hut lncy =: pbrkbnt la mbocs, rbacbktgni tfbgr dukfcoribr mboc sgzb.

[bvbroc ltfbr mgaabrbnkbs hbtwbbn bdbrigni dorebt slvbrbgin onmprgvotb klrplrotb hlnms mbsbrvb ottbntgln. [lvbrbgin hlnms tbnm tl hbcoribr, korry clwbr ot-gssub sprboms, onm fovb clnibr doturgtgbs tfonprgvotb klrplrotb hlnms, alr twl dogn rboslns. Agrst, klrplrotb bntgtgbsaokb fgifbr gnalrdotgln horrgbrs onm irbotbr dorebt klnstrognts tfon slv-brbgins, wfgkf hbnbagt arld dbdhbrsfgp gn ductgcotbroc agnonkgoc gnstgtu-tglns onm arld tfb stotb-kbntrgk noturb la tfb gntbrnotglnoc bklnldgklrmbr. [bklnm, bvbn clkoccy krbmgtwlrtfy agrds doy hb klnstrognbm hyo vorgbty la aoktlrs. Klrplrotb rotgnis orb latbn suh`bkt tl slvbrbginkbgcgnis, klrplrotb ossbts orb nlt bosgcy odbnohcb tl klccotbrocgzotgln gngntbrnotglnoc mbht dorebts, swop dorebts alr krbmgt mbrgvotgvbs orb hbttbrmbvbclpbm onm dlrb cgqugm alr bdbrigni slvbrbgins tfon alr klrplrotbs,onm prgvotb klrplrotb hlrrlwbrs‗ rbcotglns onm gntbroktglns wgtf alrbginkrbmgtlrs orb sfopbm coribcy hy bklnldgk klnsgmbrotglns wfbrbos slvbr-bgins‗ rbcotglns orb mrgvbn hy o dgx la plcgtgks onm bklnldgks.=

Bstgdotgln Xbsucts

G hbign hy bstgdotgni bquotglns (2.2) onm (2.1) sbporotbcy, gn lrmbr tl bstoh-cgsf bdpgrgkoccy tfb strukturoc mgaabrbnkbs hbtwbbn prgvotb onm slvbrbginhlnm dorebts gn bdbrigni dorebt bklnldgbs. ]fb mbpbnmbnt vorgohcbgn hltf sbts la bquotglns gs tfb ot-gssub sprbom, qultbm gn hosgs plgntsonm dbosurbm os tfb laabrgni sprbom lvbr tfb ygbcm la o doturgty-dotkfbmR.[. ]rbosury sbkurgty lr, gn tfb kosb la o burl gssub, o kldporohcb Ibrdon

Hunms lhcgiotgln. ]fb prgdory moto slurkbs ln sprboms ot gssuonkb orbMbocligk MKD Onocytgks onm Hclldhbri5 G agccbm gn moto iops hy bstgdot-gni sprboms ot gssuonkb, usgni gnalrdotgln ovogcohcb ln ygbcm tl doturgty lrklupln (?,188 tronsoktglns). Rsgni laabrgnis‗ ot-gssub hlnm ygbcm sprbomsfos tfb omvontoib la hbttbr rbacbktgni tfb stotb la gnvbstlrs‗ sbntgdbnt onm

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]ohcb 2.? [uddory [totgstgks alr Bdbrigni Dorebt [lvbrbgin onm Klrplrotb Hln

GssubrNudhbr lagssuonkbs

]ltoc vlcudbrogsbm

(R[$ hgccglns) Gn mlccors Gn burls

Ovbroibodlunt 

(R[$ dgccglns)

[lvbrbgin ?,9?? 611.1 1=7.8 8?9.= 2:1.2

  Ilvbrndbnt 7=7 299.7 =?:.8 ?19.9 1:6.7

  Zuhcgk klrplrotgln 918 866.9 8;7 =7.9 ;96.7

Zrgvotb klrplrotgln 8,9;: 271.9 2;9 27.1 8?6.1

]ltoc =,==? ?,=1;.; ?,?61.; 899 ;87.2

[lurkb0 Outflr.

?  ?  =  

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ??2

vgbws5 gt fos tfb mrowhoke la gntrlmukgni tfb prlhcbd la bnmlibnbgty lagssuonkb tgdgni”tfot gs, gn hom tgdbs, hlrrlwbrs doy mbkgmb tl plstplnblr konkbc gssuonkb. O hlrrlwbr‗s mbkgsgln tl kldb tl tfb dorebt tl rogsb

kopgtoc gs rorbcy on okkgmbnt la aotb5 gt gs typgkoccy tfb prlmukt la o mbcghbrotbprlkbss la hoconkgni tfb klsts onm hbnbagts gnvlcvbm. [ukkbss gn rogsgni kopg-toc mbpbnms ln on orroy la aoktlrs, gnkcumgni tfb mboc strukturb, mgstrghutgln,dorebtgni, `urgsmgktgln onm ilvbrngni cow, onm tfb tgdgni la kldgni tltfb dorebt. Ibttgni bokf la tfbsb aoktlrs rgift gs gdplrtont, hbkousb tfbrborb klnsgmbrohcb rbputotglnoc klsts osslkgotbm wgtf on unaovlrohcb dorebtrboktgln, os gccustrotbm hy tfb mrygni up la bdbrigni dorebt mbht gssuonkbgn tfb alurtf quortbr la 8::6.

]l kopturb klddln clkoc onm iclhoc systbdotgk rgse aoktlrs, G gnkcumb

moto ln tfb dokrlbklnldgk, gnstgtutglnoc, onm agnonkgoc dorebt mbvbclp-dbnt la bokf gssubr‗s fldb kluntry, oclni wgtf moto ln gntbrnotglnocgntbrbst rotbs, wfgkf G dotkf hy dlntf, quortbr, lr ybor wgtf tfb gssubarld o vorgbty la slurkbs. G ocsl klntrlc alr tfb stotb la iclhoc gnvbs-tlr sbntgdbnt tl okklunt alr klddln sflkes oaabktgni hltf prgvotb onmpuhcgk hlnm dorebts. G usb tfb hlnm gssubrs‗ ibnbroc gnmustry irlup, osmbagnbm hy Mgocligk MKD Onocytgks, tl klntrlc alr tfb sbktlr. ]fb rbsuctsorb rbplrtbm gn tohcbs 2.8 onm 2.;.

]ohcb 2.8 Mbtbrdgnonts la Bdbrigni Dorebt [lvbrbginHlnm [prboms

Qorgohcb (?) (8 ) (;)

Clkoc dokrlbklnldgk vorgohcbs

IMZ irlwtf rotb ‛6.;=(:.:::)***

‛9.?7(:.:::)***

‛9.21(:.:::)***

IMZ pbr kopgto ‛=.68(:.:::)***

‛;.==(:.::8)***

‛=.2:(:.:::)***

Gnacotgln ?;?.27(:.:?:)***

?;9.9;(:.::9)***

?=:.?2(:.::2)***

Zrgvotb krbmgt/IMZ ‛:.1?(:.?19)

‛:.=7(:.811)

‛:.2?(:.8=6)

Agskoc hoconkb/IMZ ‛?.:6(:.=7;)

‛8.;7(:.?;8)

‛?.;1(:.;68)

Bxplrts/IMZ ?.:6(:.?17)

?.6=(:.:?7)**

?.=8(:.:17)*

Alrbgin honekcogds/IMZ

?.=2(:.:11)*

?.2:(:.:26)*

?.;1(:.:6;)*

(klntgnubm nbxt poib)

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??1  mogcodg

Kluntry krbmgt rgserotgni gnmbx

?2.22(:.:::)***

?2.69(:.:::)***

?2.86(:.:::)***

Kluntry agnonkgoc krgsgsmuddy

6:.9;(:.:::)***

Iclhoc aoktlrs

R.[. ?:-ybor ]rbosuryhlnm ygbcm (hosgsplgnts)

‛:.8:(:.::;)***

‛:.?1(:.:?6)**

‛:.?6(:.::2)***

R.[. ?:-ybor ]rbosury-hlnm ygbcm dgnus R.[.8-ybor ]rbosury-hlnmygbcm (pbrkbnt)

?9.97(:.::?)***

?2.;:(:.::9)***

?9.68(:.::?)***

Qlcotgcgtyo =8.1=(:.:::)***

  ;6.91(:.:::)***

Ylrcm gnmustrgocprlmuktgln gnmbx(pbrkbntoib ybor-ln-ybor irlwtf)

‛7.=69(:.:::)***

Hlnm ottrghutbs

Burl-mbnldgnotbm hlnm ‛1.:2(:.291)

‛1.76(:.2?7)

‛1.71(:.2?2)

Cli (doturgty) ‛=.9;(:.=1;)

‛1.;7(:.;8:)

‛8.7:(:.12:)

Cli (vocub) ‛1.7=(:.?:6)

‛9.6?(:.:9:)*

‛2.1:(:.?7:)

Aclotgni rotb nltbs ‛7=.?:(:.:::)***

‛72.11(:.:::)***

‛7;.?;(:.:::)***

Iuorontbb 88.;7(:.?:1)

?2.=?(:.811)

82.68(:.:1:)*

Burlhlnm :.1;(:.728)

?.78(:.622)

:.8=(:.768)

Xucb ?==O ‛1.==(:.28;)

‛;.:7(:.91:)

‛1.2:(:.2?2)

Nlnnbiotgvb pcbmib

gssubr

?:.29

(:.8??)

??.77

(:.?26)

?:.9;

(:.?77)

Hlnm rotgni ot counkf ?;.69(:.:::)***

?;.2=(:.:::)***

?=.:8(:.:::)***

]ohcb 2.8 (klntgnubm)

Qorgohcb (?) (8 ) (;)

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ??9 

Nudhbr la lhsbrvotglns ?,:69 ?,:69 ?,:69X-squorbm :.9? :.9? :.98

[lurkb0 Outflr.Nltb0 Agiurbs gn porbntfbsbs orb p-vocubs. Kluntry baabkts orb nlt rbplrtbm.o. ]fb vlcotgcgty gnmgkotlr gs mbrgvbm arld o klddln aoktlr onocysgs la sbvbroc vorg-

ohcbs0 QGV tl dbosurb bqugty dorebt vlcotgcgty5 vlcotgcgty la do`lr kurrbnkgbs bxkfonibrotbs5 vlcotgcgty la klddlmgty prgkb gnmgkbs (oirgkucturoc, bnbriy, onm gnmustrgoc dbtocs)5onm ]BM sprboms, os mbskrghbm gn Mogcodg onm Dossln (8::7).

*** [gingagkont ot tfb ?% cbvbc5 ** sgingagkont ot tfb 2% cbvbc5 * sgingagkont ot tfb?:% cbvbc.

]ohcb 2.8 (klntgnubm)

Qorgohcb (?) (8 ) (;)

]ohcb 2.; Mbtbrdgnonts la Bdbrigni Dorebt Zrgvotb KlrplrotbHlnm [prboms

Qorgohcb (?) (8) (;)

Clkoc dokrlbklnldgk vorgohcbs  

IMZ irlwtf rotb ‛??.;=(:.:::)***

‛6.9;(:.:::)***

‛?:.=6(:.:::)***

IMZ pbr kopgto ‛:.16(:.26?)

:.1:(:.187)

‛:.;7(:.928)

Gnacotgln ?77.=:(:.:?1)**

8?;.:8(:.:?:)**

8::.71(:.:?2)**

Zrgvotb krbmgt/IMZ :.::(:.77=)

‛:.:1(:.78:)

‛:.:?(:.76;)

Agskoc hoconkb/IMZ ‛:.12(:.982)

‛8.12(:.?26)

‛?.?:(:.22=)

Bxplrts/IMZ 8.:8(:.:=2)** 8.2=(:.:?8)** 8.:9(:.:=:)**

Alrbgin hone kcogds/IMZ ?.:8(:.;2;)

?.=9(:.?97)

?.:=(:.;=8)

Kluntry krbmgt rgse rotgni gnmbx ?9.67(:.:::)***

?1.:1(:.:::)***

?9.;8(:.:::)***

Kluntry agnonkgoc krgsgs muddy 26.6=?:(:.::=)***

Iclhoc aoktlrs

R.[. ?:-ybor ]rbosury-hlnm ygbcm(hosgs plgnts)

‛:.87(:.:::)***

‛:.81(:.::8)***

‛:.;?(:.:::)***

(klntgnubm nbxt poib)

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??6  mogcodg

R.[. ?:-ybor ]rbosury-hlnm ygbcmdgnus 8-ybor ]rbosury-hlnmygbcm (pbrkbnt)

8=.:;(:.::?)***

82.6:(:.:::)***

8;.=?(:.::?)***

Qlcotgcgtyo =;.97(:.:::)***

  =8.:2(:.:::)***

Ylrcm gnmustrgoc prlmuktglngnmbx (pbrkbntoib ybor-ln-yborirlwtf)

‛??.::(:.:::)***

Hlnm ottrghutbs

Burl-mbnldgnotbm hlnm ‛?2.2?(:.;22)

‛?9.1:(:.87=)

‛?2.7?(:.;=?)

Cli (doturgty) 6.6?(:.?26)

6.;7(:.?97)

7.?;(:.?=;)

Cli (vocub) ‛;?.28(:.:::)***

‛;8.82(:.:::)***

‛;?.82(:.:::)***

Aclotgni rotb nltbs ‛??=.;7(:.:::)***

‛??1.?2(:.:::)***

‛??8.81(:.:::)***

Iuorontbb ?9.2;(:.:7:)*

?6.62(:.:17)*

?9.28(:.:7:)*

Burlhlnm ‛:.87(:.76?)

=.;:(:.989)

?.61(:.66:)

Xucb ?==O ;;.?7(:.::?)***

;2.;1(:.:::)***

;=.:8(:.::?)***

Nlnnbiotgvb pcbmib gssubr ;2.:2 ;1.?= ;=.9=

  (:.:::)*** (:.:::)*** (:.:::)***

Hlnm rotgni ot counkf 81.:8(:.:::)***

81.?8(:.:::)***

81.12(:.:::)***

[bktlr

Agnonkb ‛;=.92(:.::;)***

‛;8.29(:.::2)***

‛;2.8?(:.::8)***

Lgc onm ios ‛28.2=(:.::;)***

‛21.87(:.::?)***

‛2=.;:(:.::8)***

Dgngni ‛7:.8:

(:.::;)***

‛77.:=

(:.::?)***

‛69.99

(:.::=)***Rtgcgty onm bnbriy ‛92.:;

(:.::;)***‛16.88

(:.::9)***‛98.;;

(:.::=)***

]ohcb 2.; (klntgnubm)

Qorgohcb (?) (8 ) (;)

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?8:  mogcodg

kluntry‗s gnstgtutglnoc mbvbclpdbnt onm rbcotbm klrplrotb ilvbrnonkb onmtronsporbnky gnmgkotlrs. Occ gnmgkotlrs la iclhoc aoktlrs orb stotgstgkoccysgingagkont onm la tfb rgift sgin.

[pgcclvbr Gdpokts arld tfb [lvbrbgin tl tfbKlrplrotb [bktlr

]l bstgdotb tfb spgcclvbr arld tfb slvbrbgin tl tfb prgvotb klrplrotb sgmb,G mbagnb o sbt la kluntry-spbkgagk krgsgs muddgbs tl gmbntgay bpgslmbs laslvbrbgin mbht mgstrbss0

 `

t  `t  4

? ga kluntry s sbklnmory slvbrbgin sprboms ot

tgdb

≢≢

 o krgtgkoc tfrbsflcm

ltfbrwgsb.:

Dy opprlokf gn rbcygni ln dorebt-hosbm krbmgt sprboms rotfbr tfontfb lkkurrbnkb la mbaouct tl gmbntgay bpgslmbs la slvbrbgin mbht mgstrbss gsklnsgstbnt wgtf tfb rbkbnt cgtbroturb ln tfb klsts la slvbrbgin mbaouct (Mos,Zopoglonnlu, onm ]rbhbskf 8:?:5 ]rbhbskf 8::7). ]fgs cgtbroturb rbkli-ngzbs tfot octfluif bdbrigni dorebt hlrrlwbrs fovb bxpbrgbnkbm sbvbrocbpgslmbs la sbvbrb mbht-sbrvgkgni mgaagkuctgbs onm dorebt turdlgc lvbr tfbpost twl mbkombs, tfb gnkgmbnkb la slvbrbgin mbaouct, portgkucorcy ln hlnmdorebt lhcgiotglns, fos hbbn rorb (Zbskotlrg onm [y 8::=). Lvbr tfb postmbkomb, wfgkf sow wovbs la agnonkgoc, honegni, onm kurrbnky krgsbs, lncy?= alrbgin kurrbnky slvbrbgin mbaoucts lkkurrbm gn mbvbclpgni kluntrgbs.2 

Lnb rbosln wfy slvbrbgin alrbgin mbht‛sbrvgkgni mgaagkuctgbs gn bdbri-gni dorebt bklnldgbs fovb nlt rbsuctbm gn mbaouct fos tl ml wgtf tfb omvbntonm irlwtf la tfb bdbrigni dorebt hlnm dorebt gn tfb ?77:s, wfgkffos oaalrmbm hlrrlwbrs gn mgstrbss hrlombr lptglns alr toegni prbbdptgvbdbosurbs tfrluif mbht rbstrukturgni onm gdprlvbm cgohgcgty donoibdbnt

(mbht huyhokes onm swops) tl ovlgm tfb fbovy klsts la mbaouct (Dbmbgrls,Xodclion, onm Zlcon 8::95 Dbnmlzo onm Wub 8::6). Gdprlvbm mldbstgkdokrlbklnldgk klnmgtglns gn mbhtlr kluntrgbs, oclni wgtf rbalrds gn slv-brbgin hlnm klntrokts onm mlkudbntotgln gn gntbrnotglnoc kopgtoc dorebts,sukf os tfb sfgat gn omlptgni klccbktgvb oktglns kcousbs gn slvbrbgin hlnmklntrokts unmbr Nbw Wlre [totb cow, fovb klntrghutbm tl rbmukgni tfbgnkgmbnkb la mbaouct ln alrbgin kurrbnky mbht lhcgiotglns. Onltfbr rboslnwfy mbaoucts fovb hbbn rorb rbcotbs tl tfb baalrts unmbrtoebn hy bdbrignislvbrbgin hlrrlwbrs tl gdprlvb tfbgr bxtbrnoc mbht prlagcbs tfrluif cgohgc-

gty donoibdbnt onm tfb huyhoke onm rbtgrbdbnt la Hromy hlnms.1

G usb sbklnmory dorebt hlnm sprboms tl kopturb slvbrbgin mbht‛sbrvgkgni prlhcbds, hbkousb slvbrbgin mbht mgstrbss kon bxprbss gtsbca gn ohrlom ronib la plcgky onm laagkgoc rbskub lutkldbs onm krbmgt rotgnis orbhokeworm cllegni. G mbagnb bpgslmbs la mbht mgstrbss os lkkurrgni wfbn oslvbrbgin hlrrlwbr‗s hlnms tromb ot sprboms la ot cbost ?,::: hosgs plgnts

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ?8?

lvbr kldporohcb R.[. ]rbosury sbkurgtgbs. ]fgs mbagngtgln kopturbs tfbpbrglms gn wfgkf [tonmorm & Zllr‗s kcossgagbm kluntrgbs os hbgni gn sbcbk-tgvb mbaouct (tohcb 2.=).

G run o sbt la rbirbssglns wgtf gntbroktglns hbtwbbn tfb systbdotgkkldplnbnt la slvbrbgin sprboms (bstgdotbm arld bquotgln U2.2T) onm tfbkluntry-spbkgagk krgsgs muddgbs usgni

W [[X [[X G  k g`t k,` k `t k t k g k `t `t t  , ( ),4 +   ‸   +   ‸   +   ‸   +   ‸   + + Ùο θ φ λ ν ι V Q P Y    ζ   (2.9)

wfbrb [[X V   `t s ` s `t 4 + ˁ   ˁ  .,ο θ ‸

]fb bstgdotbm klbaagkgbnt alr slvbrbgin systbdotgk rgse ([[X) gs plsgtgvbonm stotgstgkoccy sgingagkont, bvbn wgtf tfb prbsbnkb la mldbstgk dokrlbkl-

nldgk vorgohcbs gn tfb bquotgln bxpcogngni tfb mbtbrdgnonts la prgvotbklrplrotb hlnm dorebt sprboms gn bdbrigni bklnldgbs. Gntbroktgni [[X wgtf tfb kluntry krgsgs muddy vorgohcb prlvgmbs o dbosurb la tfb mbirbbtl wfgkf slvbrbgin rgse oaabkts prgvotb bxtbrnoc hlrrlwgni kopgtoc klstsmurgni tgdbs la slvbrbgin mbht mgstrbss onm agnonkgoc krgsbs. Gn occ bquotglnsrbplrtbm gn tohcb 2.2, tfb bstgdotbm klbaagkgbnt gs plsgtgvb onm sgingagkont.

]ohcb 2.= [lvbrbgin [bcbktgvb Mbaouct Bpgslmbs onm [prboms ln

Alrbgin-Kurrbnky Hlnm Dorebts

Kluntry

[bklnmorydorebt sprbom(hosgs plgnts)

[bcbktgvbmbaouct motb

Bdbribnkbmotb

]gdb gnsbcbktgvbmbaouct

(dlntfs)

Oribntgno 2,;8: Nlvbdhbr 1,8::?

 @unb ?,8::2

=;.:

MldgngkonXbpuhcgk

1?1 Abhruory ?,8::2

 @unb 87,8::2

2.:

Bkuomlr ;,12= Mbkbdhbr ?2,8::6

 @unb ?2,8::7

1.:

XussgonAbmbrotgln

8,2;9 @onuory 89,?777

Mbkbdhbr6, 8:::

88.:

Rruiuoy 787 Doy ?1, 8::; @unb 8,8::;

?.:

Qbnbzubco,X. H. mbo

==1 @onuory ?6,8::2

Dorkf ;,8::2

?.2

Ovbroib 8,82: ?;.:[lurkbs0 Mbaouct gnalrdotgln gs arld [tonmorm & Zllr‗s 8:?:5 slvbrbgin sprboms

orb arld @.Z. Dlrion BDHG Iclhoc.o. Gn tfb kosb la Xbpðhcgko Hlcgvorgono mb Qbnbzubco, tfbrb wos o mbhotb odlni

krbmgt oibnkgbs ot tfb tgdb. Bvgmbntcy, gnvbstlrs mgm nlt rbokt tl tfb [tonmorm & Zllr‗smlwniromb.

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?88  mogcodg

]ohcb 2.2 [pgcclvbr Baabkts arld [lvbrbgin tl Zrgvotb Klrplrotb[bktlr

Qorgohcb (?) (8) (;)[lvbrbgin systbdotgk

rgse ([[X):.79

(:.:19)*:.9=

(:.:::)***:.96

(:.:::)***

[[X*kluntry krgsgsmuddy

:.?:(:.:81)**

:.?8(:.:??)**

:.??(:.:?2)**

Clkoc dokrlbklnldgk vorgohcbs

IMZ irlwtf rotb ‛;.=9=(:.=99)

IMZ pbr kopgto 8.6;(:.8:9)

Gnacotgln 17.?8(:.2;8)

Zrgvotb krbmgt/IMZ :.=7(:.;6;)

Agskoc hoconkb/IMZ ?.;8(:.29;)

Bxplrts/IMZ ?.96

(:.6=8)

Alrbgin honekcogds/IMZ

:.8?(:.696)

Kluntry krbmgt rgserotgni gnmbx

‛:.=;(:.;=:)

Iclhoc aoktlrs

R.[. ?:-ybor]rbosury-hlnm

ygbcm (hosgs plgnts)

‛:.;?

(:.:::)***

‛:.;6

(:.:::)***

‛:.;7

(:.:::)***R.[. ?:-ybor ]rbosury-

hlnm ygbcm dgnus8-ybor ]rbosury-hlnmygbcm (pbrkbnt)

8;.8=(:.::?)***

88.61(:.:::)***

?1.99(:.::1)***

Qlcotgcgtyo =;.8?(:.:::)***

=6.2;8(:.:::)***

Hlnm ottrghutbs

Burl-mbnldgnotbmhlnm

‛?1.?2(:.;;2)

‛?2.8=(:.;12)

‛?8.?1(:.=12)

(klntgnubm nbxt poib)

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mbht mgstrbss onm klrplrotb spgcclvbr gdpokts ?8;

Cli (doturgty) 7.?8(:.?=;)

9.18(:.881)

6.6=(:.?21)

Cli (vocub) ‛;?.;9(:.:::)***

‛;:.7?(:.:::)***

‛;:.8=(:.:::)***

Aclotgnirotb nltbs

‛??;.:7(:.:::)***

‛??2.=2(:.:::)***

‛??8.26(:.:::)***

Iuorontbb ?9.=;(:.:78)*

?;.:?(:.8:6)

??.:=(:.86:)

Burlhlnm :.7=(:.7;7) ?8.??(:.;8?) 2.7=(:.18=)

Xucb ?==O ;;.=;(:.::?)***

;1.;=(:.:::)***

;8.17(:.::?)***

Nlnnbiotgvb pcbmibgssubr

;=.26(:.:::)***

;8.79(:.:::)***

;?.27(:.::?)***

Hlnm rotgni ot counkf 81.2:(:.:::)***

82.=8(:.:::)***

81.:;(:.:::)***

[bktlr

Agnonkb ‛;2.87(:.::8)***

‛;9.97(:.::?)***

‛;7.22(:.::?)***

Lgc onm ios ‛2=.8?(:.::8)***

‛2=.9=(:.::8)***

‛21.?1(:.::?)***

Dgngni ‛66.;1(:.::=)***

‛77.2:(:.::?)***

‛7:.;:(:.::;)***

Rtgcgty onm bnbriy ‛9;.;8(:.::=)***

‛92.:;(:.::;)***

‛91.6;(:.::8)***

Kluntry baabkts (nlt rbplrtbm fbrb)

Nudhbr la lhsbrvotglns ?,=89 ?,=89 ?,=89

X-squorbm :.12 :.1; :.1=

[lurkb0 Outflr.Nltb0 Agiurbs gn porbntfbsbs orb p-vocubs.o. ]fb vlcotgcgty gnmgkotlr gs mbrgvbm arld o klddln aoktlr onocysgs la sbvbroc vorg-

ohcbs0 QGV tl dbosurb bqugty dorebt vlcotgcgty5 vlcotgcgty la do`lr kurrbnkgbs bxkfonibrotbs5 vlcotgcgty la klddlmgty prgkb gnmgkbs (oirgkucturoc, bnbriy, onm gnmustrgoc dbtocs)5onm ]BM sprboms, os mbskrghbm gn Mogcodg onm Dossln (8::7).

*** [gingagkont ot tfb ?% cbvbc5 ** sgingagkont ot tfb 2% cbvbc5 * sgingagkont ot tfb?:% cbvbc.

]ohcb 2.2 (klntgnubm)

Qorgohcb (?) (8) (;)

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?8=  mogcodg

Klnkcumgni Xbdores

Gn tfb klrplrotb wlrcm, tfb ohgcgty la o hlrrlwbr tl okkbss gntbrnotglnockopgtoc dorebts onm tfb tbrds ot wfgkf kopgtoc kon hb rogsbm mbpbnm nltlncy ln tfb krbmgtwlrtfgnbss la tfb hlrrlwbr hut ocsl ln gnvbstlrs‗ vgbwsonm rgse pbrkbptglns la tfb kluntry gn wfgkf tfb hlrrlwbr gs mldgkgcbm.Alr klrplrotb hlrrlwbrs gn omvonkbm kluntrgbs, kluntry rgse fos nlt tro-mgtglnoccy hbbn gdplrtont, igvbn tfbgr ilvbrndbnts‗ fgif krbmgt-rotgnistotus onm tfb osslkgotbm pbrkbgvbm gnstgtutglnoc strbnitf la rucb la cow,tronsporbnky, onm klrplrotb ilvbrnonkb klnsgmbrotglns. Gn klntrost, alrprgvotb klrplrotb hlrrlwbrs gn bdbrigni bklnldgbs, slvbrbgin mbaouct rgserbdogns krgtgkoc gn mbtbrdgngni tfb klst la kopgtoc.

]fgs kfoptbr bxpclrbs flw mbht mgstrbss kon pltbntgoccy oaabkt tfb klstsla prgvotb klrplrotb bxtbrnoc hlrrlwgni gn bdbrigni dorebt bklnldgbs hyusgni prgdory hlnm dorebt sprboms tfot rbacbkt dlrb okkurotbcy tfb oktuocklst la kopgtoc tl bdbrigni hlrrlwbrs tfon tfb dlrb klddlncy usbm sbk-lnmory dorebt sprboms. Gt mbvbclps on onocytgkoc arodbwlre alr tfgnegniohlut tfb klrrbcotgln hbtwbbn slvbrbgin onm klrplrotb krbmgt rgse onmprlvgmbs tbntotgvb bvgmbnkb ln tfb sgzb la ommgtglnoc kopgtoc klsts prgvotbhlrrlwbrs hbor gn tgdbs la slvbrbgin mbht mgstrbss.

]fb slurkbs la sukf o klrrbcotgln vory arld kluntry tl kluntry. Lnb

gdplrtont slurkb klucm hb tfb aokt tfot hltf tfb agrd onm gts fldb ilv-brndbnt lpbrotb gn tfb sodb mldbstgk dokrlbklnldgk onm iclhoc bnvg-rlndbnt. Os o rbsuct, pbrglms la bklnldgk mlwnturns tfot fbgiftbn tfbagrd‗s prlhohgcgty la mbaouct ocsl wlrsbn tfb ilvbrndbnt‗s agskoc sgtuotglnonm fbnkb gts kopokgty tl sbrvgkb gts mbht. O sbklnm slurkb gs tfb aokt tfottfb ilvbrndbnt‗s ohgcgty tl prlvgmb bdbribnky supplrt tl prgvotb agrds gnmgstrbss gs kldprldgsbm wfbn gts lwn krbmgt quocgty gs gn qubstgln. O tfgrmslurkb klucm hb tfot gn dony kluntrgbs, clkoc hones flcm o corib vlcudb lailvbrndbnt sbkurgtgbs ln tfbgr hlles, wfgkf brlmbs tfbgr ohgcgty tl prlvgmb

agnonkb tl prgvotb agrds gn tgdbs la fgif slvbrbgin mbaouct rgse.On gdplrtont plcgky rbklddbnmotgln bdbrigni arld tfb onocysgsrbcotbs tl tfb nbbm alr gdprlvgni slvbrbgin krbmgtwlrtfgnbss hbalrb gnvbs-tlr abors sbt gn tfot klucm cbom tl o pongkey sbcc-laa gn slvbrbgin mbht.Bklnldbtrgk bvgmbnkb prbsbntbm gn tfgs kfoptbr klnagrds tfot gnvbstlrs‗pbrkbptglns la slvbrbgin mbht prlhcbds gn on bdbrigni bklnldy tronscotbgntl fgifbr klsts la kopgtoc alr tfot kluntry‗s prgvotb klrplrotb gssubrs,wgtf tfb doingtumb la sukf klsts gnkrbosgni lnkb tfb slvbrbgin hlnmstromb ot sprboms bxkbbmgni ?,::: hosgs plgnts. ]fgs rbsuct rbgnalrkbs tfbnbbm alr poygni irbotbr ottbntgln tl tfb mldbstgk klsts la slvbrbgin mbaouct

gn tfb lnilgni mbht sustognohgcgty wlre prldltbm hy do`lr gntbrnotglnocagnonkgoc gnstgtutglns. Gt ocsl fgifcgifts tfb socgbnkb la tfb mldbstgk irlwtfklsts la slvbrbgin mbht gn bxpcogngni tfb abosghgcgty la slvbrbgin mbht lvbrtfb tfblrgbs la rbputotgln onm pungsfdbnts pglnbbrbm hy tfb gnacubntgocwlres la Botln onm Ibrslvgtz (?76?) onm Huclw onm Xlilaa (?767).

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?87

1

Mbht [ustognohgcgty onm

Mbht Mgstrbss gn tfb Yoeb latfb Lnilgni Agnonkgoc Krgsgs0]fb Kosb la GMO-LncyOargkon Kluntrgbs

Cblnorml Fbrnïnmbz onm Hlrgs Iodorro

 ]fb lnilgni agnonkgoc krgsgs mgaabrs arld prbvglus krgsbs tfot fovboaabktbm mbvbclpgni kluntrgbs gn rbkbnt mbkombs. Gn portgkucor, gt lrgig-notbm gn tfb mbvbclpbm wlrcm, gn sforp klntrost tl tfb mbht krgsgs

la tfb borcy ?76:s, tfb ]bqugco Krgsgs la ?77=, onm tfb Osgon Krgsgs la?779‛76, tl nodb ̀ ust o abw. Gt gs ocsl ? la = la tfb post ?88 rbkbssglns tfot

gnkcumbm o krbmgt krunkf, o flusgni prgkb hust, onm on bqugty prgkb hust(Kcobssbns, Elsb, onm ]brrlnbs 8::6), wfgkf gdpcgbs o dlrb prltroktbmrbklvbry. Agnoccy, gt lkkurrbm ot o tgdb wfbn mbvbclpgni kluntrgbs fom, lnovbroib, strlnibr aunmodbntocs tfon gn prbvglus krgsgs bpgslmbs, os o rbsuctla fovgni pursubm slunm dlnbtory onm agskoc plcgkgbs gn prbvglus ybors.

Os o rbsuct la tfbsb aoktlrs, dlst mbvbclpgni kluntrgbs wbrb nlt sbvbrbcyoaabktbm murgni tfb agrst (tfot gs, agnonkgoc) pfosb la tfb krgsgs. Lncy o abwkluntrgbs wbrb oaabktbm murgni tfgs pfosb, dlst la tfbd Bostbrn Burl-pbon onm Kbntroc Osgon kluntrgbs wflsb honegni systbds wbrb mgrbktcy lr

gnmgrbktcy bxplsbm (tfrluif tfbgr fbomquortbrs) tl tfb sodb tlxgk ossbtsos hones gn Burlpb onm tfb Rngtbm [totbs lr kluntrgbs tfot fom bn`lybm opbrglm la ropgm bxponsgln onm o rboc bstotb huhhcb gn tfbgr mldbstgk dor-ebts. Mbvbclpgni kluntrgbs gn ibnbroc wbrb nlt sbvbrbcy oaabktbm murgni tfb

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?;:  fbrnïnmbz onm iodorro

agrst pfosb la tfb krgsgs, bxkbpt alr o sflrt-cgvbm cgqugmgty squbbzb tfot wosrbslcvbm hy oiirbssgvb gntbrvbntglns hy kbntroc hones orlunm tfb wlrcm.

Mbvbclpgni kluntrgbs fovb hbbn oaabktbm hy tfb sforp aocc gn bxplrt

vlcudbs onm klddlmgty prgkbs murgni tfb sbklnm pfosb la tfb krgsgs,wfgkf rbsuctbm arld tfb mbkcgnb gn oiirbiotb mbdonm gn tfb mbvbclpbmwlrcm. Gnmbbm, iclhoc tromb onm klddlmgty prgkbs abcc sgingagkontcy gn cotb8::6 (agiurbs 1.? onm 1.8). Gn ommgtgln, prgvotb kopgtoc aclws tl mbvbclp-gni kluntrgbs, gn portgkucor mbht aclws, abcc sforpcy arld tfbgr pboe gn8::9 (agiurb 1.;). [ldb mbvbclpgni kluntrgbs fovb ocsl hbbn oaabktbm hy osgingagkont mbkcgnb gn rbdgttonkbs sgnkb 8::6 (agiurb 1.=), wfgkf mbbpbnbmgn 8::7 os o rbsuct la gnkrbosbm unbdpclydbnt gn tfb mbvbclpbm wlrcm.? Laagkgoc mbvbclpdbnt ossgstonkb aclws orb ocsl bxpbktbm tl mbkcgnb os o

rbsuct la tfb rbkbssgln gn mbvbclpbm kluntrgbs. Gn sud, dlst mbvbclpgnikluntrgbs fovb hbbn oaabktbm dogncy hy o sforp mrlp gn bxplrts, prgvotbonm laagkgoc kopgtoc aclws, onm rbdgttonkbs rotfbr tfon hy tfb agnonkgocmgdbnsglns la tfb krgsgs. ]fgs gs portgkucorcy sl alr clw-gnkldb kluntrgbs,wfgkf coribcy bskopbm tfb sflkes tronsdgttbm tfrluif tfb agnonkgoc kfon-nbc hbkousb la tfbgr cgdgtbm gntbirotgln gntl iclhoc agnonkgoc dorebts.

]fgs kfoptbr onocyzbs tfb pltbntgoc mbtbrglrotgln gn clw-gnkldb klun-trgbs‗ bxtbrnoc mbht hurmbn gnmgkotlrs os o rbsuct la tfb aocc gn bxplrts kousbmhy tfb lnilgni krgsgs. ]fb onocysgs usbs tfb Mbht [ustognohgcgty Arodbwlre(M[A) omlptbm hy tfb Ylrcm Hone onm tfb Gntbrnotglnoc Dlnbtory Aunm

Agiurb 1.? _uortbrcy Irlwtf gn Illms Bxplrts,Dorkf 8::9‛Dorkf 8:?:

‛82

‛8:

‛?2

‛?:

‛2

:

2

?:

?2

  p  b  r  k  b  n   t  o  i  b  k   f  o  n  i  b

8:

dlntf/ybor

mbvbclpgni kluntrgbs fgif-gnkldb kluntrgbs

Dor

8::9 8::6

[bp Dor [bp

8::7 8:?:

Dor Dor[bp

[lurkb0 Ylrcm Hone Iclhoc Bklnldgk Dlngtlr motohosb.Nltb0 Agiurbs sflw sboslnoccy om`ustbm onnuoc rotbs.

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?;8  fbrnïnmbz onm iodorro

(GDA) alr clw-gnkldb kluntrgbs, wfgkf prl`bkts eby dokrlbklnldgk vorg-ohcbs (bxplrts, IMZ, ilvbrndbnt rbvbnubs, onm sl alrtf) onm gnmbhtbmnbsslvbr o 8:-ybor flrgzln. ]fb hbfovglr la kluntrgbs‗ mbht hurmbn gnmgkotlrsoaabkts tfbgr rgse rotgnis (clw, dlmbrotb, onm fgif rgse lr gn mbht mgstrbss)onm klnmgtglns kluntrgbs‗ okkbss tl klnkbssglnoc slurkbs la agnonkb. ]fbagvb mbht hurmbn gnmgkotlrs klnsgmbrbm unmbr tfb M[A orb tfb prbsbnt vocubla mbht tl bxplrts rotgl, tfb prbsbnt vocub la mbht tl IMZ rotgl, tfb prbs-

bnt vocub la mbht tl ilvbrndbnt rbvbnubs rotgl, tfb mbht sbrvgkb tl bxplrtsrotgl, onm tfb mbht sbrvgkb tl ilvbrndbnt rbvbnubs rotgl (sbb onnbx 1K).]fb onocysgs gs korrgbm lut hy sgducotgni tfb baabkts la mgaabrbnt bxplrtssflkes ln kluntrgbs‗ gnmbhtbmnbss oatbr kluntrgbs hlrrlw tl sdlltf luttfb baabkts la tfb krgsgs.

]fb kfoptbr‗s dogn klnkcusgln gs tfot gt gs krgtgkoc tl bnsurb klntgnulusokkbss tl klnkbssglnoc (slat) agnonkgni alr tfbsb kluntrgbs, os tfb prlhohgc-gty la mbht mgstrbss rgsbs sgingagkontcy wfbn agnonkgni klnmgtglns tgiftbn.Octbrnotgvbcy, tfb om`ustdbnt gn agskoc plcgky, gnkcumgni plcgkgbs ilvbrngni

slkgoc bxpbnmgturbs onm gnvbstdbnt, rbqugrbm tl ovlgm mbaoucts gs mbbdbmunabosghcb unmbr tluifbr agnonkgoc klnmgtglns. ]fb nbbm alr slat agnonk-gni hbkldbs dlrb okutb ga tfb iclhoc krgsgs prlvbs tl hb o prltroktbm lnb.Flwbvbr, okkbss tl sukf agnonkgni mlbs nlt prbkcumb tfb nbbm alr agskocom`ustdbnts gn o abw kosbs gn lrmbr tl ovlgm o mbaouct.

Agiurb 1.= Irlwtf gn Xbdgttonkbs tl Mbvbclpgni Kluntrgbs,8::2‛??

‛8:

‛?:

:  p  b  r  k  b  n   t ?:

8:

;:

8::1 8::9 8::6 8::7 8:?: 8:??

hosb kosb (‛2.:%) clw kosb (‛6.8%)

[lurkb0 Xotfo, Dlfopotro, onm [gcwoc 8::7.Nltb0 Agiurbs alr 8::2‛:6 orb oktuoc agiurbs5 agiurbs alr 8::7‛?? orb

prl`bktglns.

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tfb kosb la gmo-lncy oargkon kluntrgbs ?;;

]fb kfoptbr gs lriongzbm os alcclws. ]fb agrst sbktgln mbskrghbs sbvbrocsgducotgln bxbrkgsbs onm prlvgmbs rbcbvont dbtflmlcligkoc gnalrdotgln.]fb sbklnm sbktgln onocyzbs tfb rbsucts la tfb bxbrkgsbs alr o typgkoc clw-

gnkldb kluntry onm alr tfb irlup la ;? clw-gnkldb kluntrgbs gn tfbsodpcb. ]fb cost sbktgln prlvgmbs sldb klnkcumgni klddbnts.

Dbtflmlcliy

]fgs sbktgln mbskrghbs stbp hy stbp flw sgducotglns wbrb domb usgni tfbM[A. Gt mbskrghbs tfb sodpcb la ;? kluntrgbs onm tfbn bxpcogns tfb typbs lasflkes tfot kluntrgbs suaabr.

[odpcb

]fb sodpcb kldprgsbs ;? Oargkon kluntrgbs tfot orb bcgighcb alr ossgstonkbarld tfb Gntbrnotglnoc Mbvbclpdbnt Osslkgotgln alr wfgkf o Mbht [us-tognohgcgty Onocysgs (M[O) wos ovogcohcb hy bnm-@ucy 8::7.8 ]fb sgduco-tglns orb hugct sl tfot tfb krgsgs fgts occ kluntrgbs gn 8::7. Mbht hurmbngnmgkotlrs orb prl`bktbm”onm kldporbm wgtf rbspbkt tl bokf tbdpcotb‗shosbcgnb”alr 8::7‛89.

Octfluif tfb baabkts la tfb krgsgs tfrluif bxplrts hbion tl hb abct dlrbgntbnsgvbcy gn dlst clw-gnkldb kluntrgbs gn 8::7, tfb aokt tfot M[Os pbr-alrdbm ot mgaabrbnt motbs orb usbm gdpcgbs tfot tfb hosbcgnb skbnorgl oiognstwfgkf lur prl`bktglns orb kldporbm klucm hb tll lptgdgstgk alr occ hutbgift la tfb kluntrgbs gn lur sodpcb.; Alr tfb ltfbr 8; kluntrgbs, tfb oktuocmbtbrglrotgln la tfb mbht hurmbn gnmgkotlrs (onm tfb osslkgotbm rgse lambht mgstrbss tfot rbsucts arld kldporgni sukf gnmgkotlrs tl tfb gnmgkotgvbplcgky-mbpbnmbnt tfrbsflcms) klucm hb clwbr tfon prl`bktbm gn tfb sgducotglnbxbrkgsbs, hbkousb tfb sgzb la tfb sflkes onm tfb osslkgotbm kfonib gn gnmbht-

bmnbss orb prlplrtglnoc tl tfb hosbcgnb wfbrbos tfb tfrbsflcms orb klnstont.=

[flkes0 Mbptf, Cbnitf, onm ]ronsdgssgln tl tfb Xbst latfb Bklnldy

]fb sgducotglns orb hosbm ln mgaabrbnt ossudptglns rbiormgni tfb mbptfonm cbnitf la tfb sflke tl bxplrts (tohcb 1.?).2 Ygtf rbspbkt tl tfb hosbcgnbybor (8::7), wb sgducotbm bxplrt mbkcgnbs la ?:, 8:, onm ;: pbrkbnt. Ybossudb tfot oatbr tfb gngtgoc mbkcgnb gn bxplrts, kluntrgbs klucm toeb twl,

alur, sgx, lr bgift ybors tl rbturn tl tfb cbvbcs prl`bktbm unmbr tfb M[Ohosbcgnb. Yb ossudb tfot tfb rbturn tl tfb M[O hosbcgnb cbvbcs gs cgnbor.[flkes orb ronebm bx ontb okklrmgni tl o sbvbrgty gnmbx, mbagnbm os tfb

kuducotgvb clss (mbvgotgln) gn bxplrts wgtf rbspbkt tl tfb M[O hosbcgnb(tohcb 1.8). ]fb sbvbrgty gnmbx alr o ;: pbrkbnt sflke costgni twl ybors gs

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?;=  fbrnïnmbz onm iodorro

=2 (;: pbrkbnt clss tfb agrst ybor onm ?2 pbrkbnt clss tfb sbklnm), tfb sodb

os tfb gnmbx alr o ?: pbrkbnt sflke costgni bgift ybors.Yb klnsgmbr twl octbrnotgvbs gn onocyzgni tfb gdpokt la tfb sflkes ln okluntry‗s mbht hurmbn gnmgkotlrs. Rnmbr tfb agrst octbrnotgvb, tfb mbkcgnb gnbxplrts gs kldpbnsotbm alr hy on gnkrbosb gn mldbstgk ohslrptgln, sl tfot gtmlbs nlt omvbrsbcy oaabkt oiirbiotb lutput (tfot gs, unbdpclydbnt gs unoa-abktbm), os ossudbm gn sldb la tfb strbss tbsts hugct gn tfb M[O tbdpcotb. 1 

]ohcb 1.? Mbptf onm Murotgln la Bxplrt [flkes

Mbptf la sflke

(pbrkbnt)

Cbnitf la sflke

(ybors)

Onnuoc rbklvbry

(pbrkbnt)?: 8, =, 1, 6 2.:, 8.2, ?.19, ?.82

8: 8, =, 1, 6 ?:.:, 2.:, ;.;;, 8.2

;: 8, =, 1, 6 ?2.:, 9.2, 2.:, ;.92

[lurkb0 Outflrs.Nltb0 ]fb mbptf la tfb sflke gs tfb pbrkbntoib mbvgotgln arld tfb 8::7 hosbcgnb.

]fb cbnitf la tfb sflke gs tfb nudhbr la ybors untgc tfb bxplrt cbvbc prl`bktbm unmbrtfb M[O hosbcgnb gs rbokfbm. ]fb onnuoc rbklvbry gs tfb pbrkbntoib-plgnt mbvgotglnarld tfb hosbcgnb klrrbsplnmgni tl tfb cbnitf la tfb sflke.

]ohcb 1.8 [bvbrgty Gnmbx la [flkes tl Bxplrts

[flke typbMbptf la

sflkeCbnitf la

sflke

[bvbrgty gnmbx (kuducotgvb pbrkbntoib clss wgtf rbspbkt

tl M[O hosbcgnb)

7:8 ?: 8 ?2

7:= ?: = 82

6:8 8: 8 ;:

7:1 ?: 1 ;2

7:6 ?: 6 =2

9:8 ;: 8 =2

6:= 8: = 2:

6:1 8: 1 9:

9:= ;: = 92

6:6 8: 6 7:

9:1 ;: 1 ?:29:6 ;: 6 ?;2

[lurkb0 Outflrs.Nltb0 ]fb sflke typb kldprgsbs twl nudhbrs0 tfb agrst twl mgigts (7:, 6:, onm 9:)

gnmgkotb tfb cbvbc la bxplrts oatbr tfb sflke os o pbrkbnt la tfb hosbcgnb. ]fb sbklnm(8, =, 1, onm 6) gnmgkotbs tfb nudhbr la ybors untgc bxplrts rbturn tl tfb cbvbcsprl`bktbm unmbr tfb M[O hosbcgnb.

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tfb kosb la gmo-lncy oargkon kluntrgbs ?;2

Gt lkkurs, alr gnstonkb, ga tfb ilvbrndbnt huys occ tfb prlmuktgln tfot agrdsorb unohcb tl bxplrt (gn lrmbr tl ebbp rbslurkbs auccy bdpclybm) lr ga agrdshugcm up tfbgr gnvbntlrgbs (wfgkf klucm hb dlrb bosgcy mlnb gn tfb kosb

la nlnpbrgsfohcb klddlmgtgbs, sukf os mgodlnms lr klppbr). Rnmbr tfbsbklnm octbrnotgvb tfb mbkcgnb gn bxplrts gs nlt kldpbnsotbm alr onm tfbrb-alrb fos on baabkt ln oiirbiotb lutput onm ln unbdpclydbnt. ]fb sbklnmoctbrnotgvb”wgtf tronsdgssgln tl IMZ”gs dlrb rbocgstgk onm wgcc mgaabrarld tfb agrst prlplrtglnoccy tl tfb sforb la bxplrts tl IMZ. Mbht hurmbngnmgkotlrs bxprbssbm gn pbrkbntoib la IMZ onm ilvbrndbnt rbvbnubs wgccmbtbrglrotb bvbn aurtfbr unmbr tfb sbklnm octbrnotgvb.9 

]l tfb bxtbnt tfot kluntrgbs gdpcbdbnt agskoc stgducus pokeoibs tlportgoccy laasbt tfb baabkt la tfb krgsgs ln IMZ, tfbsb octbrnotgvbs prlvgmb

clwbr onm uppbr hlunms ln tfb oktuoc baabkt la tfb krgsgs ln kluntrgbs‗ mbhthurmbn gnmgkotlrs.

Om`ustdbnt tl [flkes0 Dorignoc Agnonkgoc Klnmgtglns

Kluntrgbs klucm om`ust tl tfb krgsgs hy sbvbrbcy klnstrogngni oiirbiotbbxpbnmgturbs (tfot gs, rbmukgni gdplrts). Nlt sdlltfgni tfb bxplrt sflkewlucm gdplsb o fbovy hurmbn ln tfb plpucotgln, flwbvbr. ]l ovlgm osforp om`ustdbnt gn klnsudptgln onm gnvbstdbnt, gt wlucm hb mbsgrohcb tlocclw alr on gnkrbosb gn gnmbhtbmnbss, tl tfb bxtbnt tfot gt mlbs nlt cbom tlo dlrb sbvbrb om`ustdbnt cotbr ln, wfgkf wlucm hb tfb kosb ga tfb kluntryaoccs gntl mbht mgstrbss onm bvbntuoccy mbaoucts.

]l ossbss tfb gdpokt la gnkrbosbm gnmbhtbmnbss ln o kluntry‗s rgse lambht mgstrbss unmbr bokf la tfb ?8 sflkes sflwn gn tohcb 1.8, wb prl`bktmbht hurmbn gnmgkotlrs ossudgni tfot tfbrb gs nl rbmuktgln gn ohslrp-tgln (tfot gs, tfot tfb kluntry hlrrlws $? alr bvbry $? nlt rbkbgvbm arldbxplrts).6 ]fb mbtbrglrotgln gn mbht hurmbn gnmgkotlrs mbpbnms ln tfbagnonkgoc klnmgtglns unmbr wfgkf tfb nbw mbht gs klntroktbm. Yb onocyzbtfb gdpokt la klntroktgni nbw mbht unmbr alur sbts la tbrds (tohcb 1.;).

]fb klnmgtglns unmbr wfgkf clw-gnkldb kluntrgbs klucm lhtogn agnonk-gni orb orhgtrorgcy kflsbn. ]fby orb cgebcy tl hb dlrb strgnibnt tfon tfbyfom hbbn, flwbvbr, hbkousb la tfb gnkrbosgni skorkgty la klnkbssglnoc

]ohcb 1.; ]brds unmbr Yfgkf Nbw Mbht Gs Klntroktbm

Agnonkgocklnmgtglns gnmbx

Gntbrbst rotb(pbrkbnt)

Doturgty(ybors)

Irokb pbrglm(ybors)

AK?: :.92 =: ?:AK8: 8.82 ?: 2

AK;: 2.82 ?: :

AK=: ?:.82 2 :

[lurkb0 Outflrs.

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tfb kosb la gmo-lncy oargkon kluntrgbs ?;9 

8: pbrkbnt mrlp gn bxplrts wgtf tronsdgssgln tl IMZ (tfot gs, wgtf omvbrsbbaabkts ln unbdpclydbnt), wfgkf rbprbsbnts on uppbr hlunm ln tfb oktuocbaabkt ln kluntrgbs. (]fb rbsucts alr ltfbr kosbs orb quocgtotgvbcy tfb sodb

onm orb ovogcohcb upln rbqubst arld tfb outflrs.) Yb ocsl mgskuss tfb ovbr-oib rbsucts alr occ ?8 bxplrt sflkes unmbr mgaabrbnt hlrrlwgni klnmgtglns.7 

Lnb (bxpbktbm) rbsuct gs tfot, alr igvbn hlrrlwgni klnmgtglns, mbhthurmbn gnmgkotlrs mbtbrglrotb dlnltlngkoccy wgtf tfb murotgln (sbvbrgty)la tfb bxplrt sflke. ]fgs rbsuct stbds arld tfb aokt tfot o clnibr-costgni(mbbpbr) sflke alrkbs o kluntry tl gnkur ommgtglnoc hlrrlwgni tl sdlltflut tfb baabkts la tfb krgsgs ln mldbstgk ohslrptgln, sldbtfgni tfot fos odlnltlngk omvbrsb baabkt ln hltf slcvbnky onm cgqugmgty gnmgkotlrs (sbbiropfs ln tfb rgift sgmb la occ agvb agiurbs gn onnbx 1O).

Cbss strgnibnt hlrrlwgni klnmgtglns ocsl gdpcy o sdlltfbr om`ust-dbnt la mbht hurmbn gnmgkotlrs (tfot gs, mbht hurmbn gnmgkotlrs mbtbrglrotbcbss gngtgoccy unmbr cbss strgnibnt agnonkgoc klnmgtglns hut ocsl rbturn tltfb lrgignoc (hosbcgnb) cbvbc dlrb sclwcy tfon unmbr tluifbr hlrrlwgniklnmgtglns). ]fgs gdpcgbs tfot wfbn mbht hurmbn gnmgkotlrs hrbokf tfbgrklrrbsplnmgni gnmgkotgvb tfrbsflcms, tfby tbnm tl stoy ohlvb sukf vocubsalr o clnibr pbrglm unmbr cbss strgnibnt hlrrlwgni klnmgtglns (tohcb 1.=),hbkousb tfb rbpoydbnt pbrglm gs sflrtbr unmbr tfb dlrb strgnibnt nbwhlrrlwgni klnmgtglns. ]fb unmbrcygni rbcotglnsfgp gs nlt pbrabktcy dlnl-tlngk, flwbvbr, hbkousb tfb fgifbr gntbrbst rotb ossudbm alr nbw hlrrlw-gni wgtf sflrtbr doturgty”os wbcc os tfb hbfovglr la tfb klrrbsplnmgnimbht hurmbn gnmgkotlr unmbr tfb hosbcgnb skbnorgl”ocsl gnacubnkbs tfbnudhbr la tgdbs tfb rbcbvont tfrbsflcm (wfgkf gs klnstont) gs krlssbm.

]ohcb 1.= Ovbroib Nudhbr la Bpgslmbs okrlss ?8 Bxplrt [flkesunmbr Mgaabrbnt Agnonkgoc Klnmgtglns

Gnmgkotlr

Nudhbr labpgslmbs gn

hosbcgnb

AK?:(:.92,

=:, ?:)

AK8:(8.82,

?:, 2)

AK;:(2.82,

?:, :)

AK=:(?:.82,

2, :)Zrbsbnt vocub la mbht

tl IMZ 2 ?6 ?9 ?? 7

Zrbsbnt vocub la mbhttl bxplrts : ?8 ?; 1 =

Zrbsbnt vocub la mbht tlilvbrndbnt rbvbnubs : : 6 2 ;

Mbht sbrvgkb tl bxplrts : : ?: 9 2

Mbht sbrvgkb tlilvbrndbnt rbvbnubs : : : 9 2

[lurkb0 Outflrs.Nltb0 Nudhbrs gn porbntfbsbs gn tfb klcudn fbomgnis gnmgkotb tfb gntbrbst rotb,

doturgty, onm irokb pbrglm, rbspbktgvbcy.

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?;6  fbrnïnmbz onm iodorro

Zrbsbnt vocub‛hosbm gnmgkotlrs orb nlncgnbor tronsalrdotglns la mbhtsbrvgkb poydbnts (wflsb hbfovglr gs hbttbr kopturbm hy mbht sbrvgkbgnmgkotlrs). Alr tfgs rbosln, tfbsb gnmgkotlrs ml nlt bxfghgt o dlnltlngk

mbtbrglrotgln wgtf tfb tgiftbngni la nbw hlrrlwgni klnmgtglns. [ukf odlnltlngk rbcotglnsfgp gs lhsbrvbm gn tfb kosb la hltf mbht sbrvgkb‛hosbmgnmgkotlrs (tfot gs, tfb mbht sbrvgkb tl bxplrts rotgl onm tfb mbht sbrvgkb tlilvbrndbnt rbvbnubs rotgl), os sflwn gn onnbx agiurbs 1O.= onm 1O.2.

Gn ommgtgln tl fgifbr gntbrbst rotbs, tgiftbr nbw hlrrlwgni klnmgtglnsklnvby o sflrtbr rbpoydbnt pbrglm. Os o rbsuct, mbht hurmbn gnmgkotlrsrbturn dlrb qugkecy tl tfb lrgignoc (hosbcgnb) cbvbc, ossudgni kluntrgbsdonoib tl –survgvb— tfb sflrtbr, ochbgt formbr, pbrglm kousbm hy tfbtgiftbr agnonkgoc klnmgtglns. ]fb mbtbrglrotgln la tfb mbht hurmbn gnmgko-

tlrs unmbrcygni tfb rbsucts sflwn gn tohcb 1.= gs sgingagkont (gn tfb hosbcgnbskbnorgl lncy lnb gnmgkotlr hrbokfbs tfb tfrbsflcm ln agvb lkkosglns lvbrtfb ?7 ybors la prl`bktglns), hut gt mlbs nlt prlvgmb o kcbor lr kldpcbtbpgkturb la tfb plssghgcgty la o kluntry aoccgni gntl mbht mgstrbss. [ukf opgkturb gs hbttbr kopturbm hy tfb mgstonkb (gn pbrkbntoib plgnts) arld tfbtfrbsflcm wfbn tfb tfrbsflcm gs hrbokfbm. ]fb rbsucts arld tfb sgducotglnsorb sflwn gn onnbx 1O (alr o 8: pbrkbnt bxplrt sflke) onm suddorgzbmgn tohcbs 1.2 onm 1.1 (alr occ bxplrt sflkes).

Gt gs kcbor arld tohcbs 1.2 onm 1.1 tfot bvbn unmbr rbcotgvbcy cbngbnt agnonkgocklnmgtglns (tfot gs, AK8:), tfb prlhohgcgty la mbht mgstrbss rgsbs rbcotgvb tl tfbhosbcgnb, gdpcygni tfot agskoc om`ustdbnt doy hb unovlgmohcb gn sldb kosbs.Ln ovbroib, tfb prlhohgcgty la mbht mgstrbss gnkrbosbs sgingagkontcy”tfb lncy

]ohcb 1.2 Ovbroib Mbvgotgln arld ]frbsflcm okrlss Occ ?8Bxplrt [flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns

Gnmgkotlr

Zbrkbntoib plgnts ohlvb

tfrbsflcm

gn hosbcgnb

AK?:(:.92,

=:, ?:)

AK8:(8.82,

?:, 2)

AK;:(2.82,

?:, :)

AK=:(?:.82,

2, :)Zrbsbnt vocub la mbht

tl IMZ ?.6 8? 87 87 82

Zrbsbnt vocub la mbhttl bxplrts : ?1 ;? ?9 ??

Zrbsbnt vocub lambht tl ilvbrndbntrbvbnubs : : 89 ;? ?;

Mbht sbrvgkb tl bxplrts : : ; 2 6

Mbht sbrvgkb tlilvbrndbnt rbvbnubs : : : 1 ?8

[lurkb0 Outflrs.Nltb0 Nudhbrs gn porbntfbsbs gn tfb klcudn fbomgnis gnmgkotb tfb gntbrbst rotb,

doturgty, onm irokb pbrglm, rbspbktgvbcy.

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?=:  fbrnïnmbz onm iodorro

dummcb tfrluif tfb krgsgs wgtflut mbaouctgni ln tfbgr mbht. ]fb sgzb la tfbom`ustdbnt nbbms tl hb dukf coribr, ochbgt sflrtbr, gn tfb kosb la tgiftbragnonkgoc klnmgtglns, gdpcygni tfot kuts gn slkgoc sbrvgkbs lr puhcgk gnvbst-

dbnt wgcc nbbm tl hb dukf coribr onm pbrfops unabosghcb.]fb sbvbrgty la sflkes, ossbssbm (bx plst) hy tfb mbtbrglrotgln gn mbht

hurmbn gnmgkotlrs, mlbs nlt ocwoys rbsuct gn bxoktcy tfb sodb lrmbrgnios gnmgkotbm gn tohcb 1.8 (kldporb tfb cbat-fonm ponbcs gn onnbx agiurbs1O.?‛1O.2). ]fgs gs sl hbkousb la tfb nlncgnbor tronsalrdotgln gn tfbprbsbnt vocub kockucotglns, tfb prl`bktbm tro`bktlry la tfb gnmgkotlrs unmbrtfb M[O hosbcgnb, onm tfb gntbroktgln hbtwbbn tfb sbvbrgty la tfb sflke(mbptf onm cbnitf) onm tfb klst ot wfgkf tfb kluntry lhtogns agnonkgni.

Mbht Hurmbn Gnmgkotlrs alr tfb Aucc [odpcb

]fgs onocysgs alr tfb ;? kluntrgbs os o irlup kldporbs tfb oiirbiotbdbosurbs unmbr mgaabrbnt ossudptglns wgtf tfb sodb dbosurbs unmbr tfbhosbcgnb skbnorgl. ]fb agiurbs gn onnbx 1H sflw tfb pottbrn la tfbsb oiirb-iotb dbosurbs alr tfb vorglus bxplrt sflkes onm agnonkgoc klnmgtglns. ]fbsodb rbsucts orb prbsbntbm ovbroibm okrlss tfb mgaabrbnt bxplrt sflkesgn tohcbs 1.9‛1.7 alr tfb bntgrb sodpcb. Alr prbsbntotglnoc purplsbs, wbbxodgnb tfb kosb wgtf tronsdgssgln tl IMZ (tfot gs, tfb kosb gn wfgkf tfbmrlp gn bxplrts kousbs unbdpclydbnt). Ltfbr rbsucts orb ovogcohcb uplnrbqubst arld tfb outflrs. ]fb sbvbrgty la sflkes ossbssbm (bx plst) hy tfb

]ohcb 1.9  Ovbroib Nudhbr la Bpgslmbs okrlss Occ ?8 Bxplrt[flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns, Bntgrb [odpcb

Gnmgkotlr

Nudhbr labpgslmbs gn

hosbcgnb

AK?:(:.92,

=:, ?:)

AK8:(8.82,?:, 2)

AK;:(2.82,?:, :)

AK=:(?:.82,2, :)

Zrbsbnt vocub la mbhttl IMZ ??; ?11 ?6= ?18 ?=9

Zrbsbnt vocub la mbhttl bxplrts ?=2 ?78 8?= ?71 ?62

Zrbsbnt vocub la mbht tlilvbrndbnt rbvbnubs 96 ?:8 ??= ?:2 79

Mbht sbrvgkb tl bxplrts 81 ;8 2: 7? ?8?

Mbht sbrvgkb tl

ilvbrndbnt rbvbnubs 89 ;8 =9 9= 66[lurkb0 Outflrs.Nltb0 ]fb nudhbr gn bokf kbcc klrrbsplnms tl tfb sud lvbr occ kluntrgbs.

Gn klcudns ;‛1, tfgs sud gs ovbroibm alr tfb mgaabrbnt sflkes. Nudhbrs gn porbntfbsbsgn tfb klcudn fbomgnis gnmgkotb gntbrbst rotb, doturgty, onm irokb pbrglm, rbspbktgvbcy.

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?=8  fbrnïnmbz onm iodorro

IMZ, wb ossudb tfot prlmuktgln rbdogns klnstont, bgtfbr hbkousb agrdsgnkrbosb tfbgr gnvbntlrgbs, tfb ilvbrndbnt huys onm stlrbs tfb prlmuktstfot orb nlt bxplrtbm, lr hltf. ]fb mgaabrbnkbs hbtwbbn tfb kosbs wgtf onmwgtflut tronsdgssgln orb nlt vbry corib0 gn lncy o abw kosbs gs tfb mgaabr-bnkb coribr tfon ?: pbrkbnt, onm tfb coribst mgaabrbnkb gs ohlut 8: pbrkbnt(tohcb 1.?:). Mbspgtb tfb sdocc doingtumb, wb hbcgbvb gt gs dlrb rbcbvont

(rbocgstgk) tl onocyzb tfb kosb wgtf tronsdgssgln tl IMZ.

Xgse Ossbssdbnts unmbr Mgaabrbnt Bxplrts [flkes onmAgnonkgoc Klnmgtglns

Gn tfgs sbktgln, wb onocyzb tfb pltbntgoc mbtbrglrotgln gn kluntrgbs‗ rgserotgni ossbssdbnts alr mgaabrbnt kldhgnotglns la ossudptglns ln bxplrtssflkes onm nbw hlrrlwgni. Yb ml sl hy cllegni sbporotbcy ot tfb tfrbbdbosurbs mbagnbm ohlvb alr bokf kluntry onm kldporgni tfbd oiognst tfb

hosbcgnb skbnorgl. ]fb rgse rotgni usbm fbrb mgaabrs romgkoccy arld tfot usbmgn tfb Ylrcm Hone‛GDA M[A. Yb kcossgay kluntrgbs ot rgse la mbht mgstrbsshosbm ln tfb krgtbrgo sflwn gn tohcb 1.??.

Gn klntrost tl tfb M[A, wfgkf clles ot o kluntry‗s hbfovglr okrlss occagvb mbht hurmbn gnmgkotlrs, wb ossbss rgse hosbm ln bokf la tfb agvb mbht

]ohcb 1.7 Doxgdud Mbvgotgln arld ]frbsflcm0 Dbon okrlssOcc ?8 Bxplrt [flkes unmbr Mgaabrbnt Agnonkgoc Klnmgtglns,Bntgrb [odpcb

Gnmgkotlr

Zbrkbntoib plgnts ohlvb

tfrbsflcmgn hosbcgnb

AK?:(:.92,

=:, ?:)

AK8:(8.82,?:, 2)

AK;:(2.82,?:, :)

AK=:(?:.82,2, :)

Zrbsbnt vocub la mbhttl IMZ 2:6 12; 9;: 911 99=

Zrbsbnt vocub la mbhttl bxplrts 8,288 ;,=17 ;,9:= ;,6:? ;,6=9

Zrbsbnt vocub lambht tl ilvbrndbntrbvbnubs 8,=18 8,7;1 ;,?6; ;,;?? ;,;=9

Mbht sbrvgkb tl bxplrts ;= 11 98 ??2 82?

Mbht sbrvgkb tlilvbrndbnt rbvbnubs ?:9 ??1 ?88 ?6; ;12

[lurkb0 Outflrs.Nltb0 ]fb nudhbr gn bokf kbcc klrrbsplnms tl tfb sud la bokf kluntry‗s ovbroib

mbvgotgln arld tfb tfrbsflcm. Gn klcudns ;‛1, tfgs sud gs ovbroibm alr tfb mgaabrbnt

sflkes. Nudhbrs gn porbntfbsbs gn tfb klcudn fbomgnis gnmgkotb gntbrbst rotb,doturgty, onm irokb pbrglm, rbspbktgvbcy.

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tfb kosb la gmo-lncy oargkon kluntrgbs ?=;

]ohcb 1.?: Doxgdud Mgaabrbnkb gn Oiirbiotb Gnmgkotlrs wgtfonm wgtflut ]ronsdgssgln tl IMZ, Bntgrb [odpcb(pbrkbnt)

GnmgkotlrNudhbr

la bpgslmbs

Ovbroibmbvgotgln arld

tfrbsflcm 

Doxgdudmbvgotgln arld

tfrbsflcm 

Zrbsbnt vocub lambht tl IMZ =.: ?=.= 8:.9

Zrbsbnt vocub lambht tl bxplrts : : :

Zrbsbnt vocub

la mbht tlilvbrndbntrbvbnubs 9.6 ?2.9 ?=.6

Mbht sbrvgkb tlbxplrts : : :

Mbht sbrvgkb tlilvbrndbntrbvbnubs 6.; 8:.; ?9.1

[lurkb0 Outflrs.

Nltb0 Nudhbrs sflw tfb pbrkbntoib gn wfgkf tfb gnmgkotlr kockucotbm wfbn tfbrbgs tronsdgssgln tl IMZ la tfb bxplrt sflke bxkbbms tfb sodb gnmgkotlr kockucotbmwfbn tfbrb gs nl tronsdgssgln tl IMZ. ]fb nudhbr gn bokf kbcc gs tfb doxgdudmgaabrbnkb lvbr occ =6 plssghcb kldhgnotglns la bxplrt sflkes onm agnonkgoc klnmgtglns.

]ohcb 1.?? Xgse Xotgni Krgtbrgo Rsbm tl Bvocuotb tfb Gdpokt laMgaabrbnt [flkes ln Kluntrgbs‗ Xgse Ossbssdbnts

Cbvbc la rgse

la mbhtmgstrbss

Zrbsbntvocub

la mbht tlIMZ

Zrbsbntvocub la

mbht tlbxplrts

Zrbsbntvocub la

mbht tlrbvbnubs

Mbht

sbrvgkb tlbxplrts

Mbht

sbrvgkb tlrbvbnubs

Nudhbr la bpgslmbs (lr hrbokfbs) murgni tfb prl`bktgln pbrglm 

Clw ]frbsflcm hrbokfbm cbss tfon 2 tgdbs murgni prl`bktgln pbrglm

Dlmbrotb ]frbsflcm hrbokfbm 2‛?: tgdbs murgni prl`bktgln pbrglm

Fgif ]frbsflcm hrbokfbm dlrb tfon ?: tgdbs murgni prl`bktgln pbrglm

Ovbroib mbvgotgln arld tfrbsflcm murgni tfb prl`bktgln pbrglm o

Clw   ≭ 2 ≭ 82 ≭ 82 ≭ 8.2 ≭ 8.2

Dlmbrotb 2 ≭ ?: 82 ≭ 2: 82 ≭ 2: 8.2 ≭ 2 8.2 ≭ 2

Fgif   > ?: > 2: > 2: > 2 > 2

(klntgnubm nbxt poib)

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?==  fbrnïnmbz onm iodorro

hurmbn gnmgkotlrs gnmgvgmuoccy. Alr tfgs rbosln, wb usb tfb dlrb cbngbnt krg-tbrgln, gnmgkotbm gn tohcb 1.??, rotfbr tfon tfb oktuoc Ylrcm Hone‛ GDA M[O(alr gnstonkb, gn o stonmorm M[O, o kluntry gs ossbssbm os ot clw rgse ga occ agvbgnmgkotlrs orb wbcc hbclw tfb kluntry-spbkgagk tfrbsflcms5 sbb onnbx 1K).

]fb bvgmbnkb rbplrtbm gn tohcbs 1.?8‛1.?= sflws tfot kluntry rgseossbssdbnts, os mbagnbm fbrb, kfonib sgingagkontcy wgtf rbspbkt tl tfbhosbcgnb skbnorgl, bspbkgoccy alr clni-costgni sflkes onm tgiftbr agnon-kgoc klnmgtglns.?: O mrlp gn bxplrts la ;: pbrkbnt wgtf rbklvbry gn bgiftybors (V9:6x), o ?:.82 gntbrbst rotb, o agvb-ybor doturgty, onm nl irokbpbrglm (AK=:) kousb tfb nudhbr la kluntrgbs rotbm ot dlmbrotb rgse lambht mgstrbss tl gnkrbosb tl ?: (arld 8 gn tfb hosbcgnb) usgni tfb prbs-bnt vocub la mbht tl IMZ rotgl5 tl ?; (arld ; gn tfb hosbcgnb) usgni tfbprbsbnt vocub la mbht tl bxplrts rotgl5 tl 9 (arld 8 gn tfb hosbcgnb) usgni

tfb prbsbnt vocub la mbht tl rbvbnub rotgl5 tl 8? (arld : gn tfb hosbcgnb)usgni tfb mbht sbrvgkb tl bxplrts rotgl5 onm tl ?2 (arld ? gn tfb hosbcgnb)usgni tfb mbht sbrvgkb tl rbvbnubs rotgl.

]fb mbtbrglrotgln gn tfb rgse la mbht mgstrbss ossbssdbnts gn tohcb 1.?8oppbors cbss strgegni wfbn lnb clles ot tfb gnkrbosb gn tfb fgif rgse la mbhtmgstrbss kosbs0 alr tfb sodb bxplrt sflke onm agnonkgoc klnmgtglns, lncy tfbmbht sbrvgkb tl bxplrts rotgl mbtbrglrotbs sgingagkontcy, hy up tl agvb kosbs(up arld lnb kosb unmbr tfb hosbcgnb). ]fgs nlt vbry strgegni rbsuct lkkursgn port hbkousb tfb tgiftbr agnonkgoc klnmgtglns ossudb o sflrtbr rbpoy-

dbnt pbrglm”tfot gs, tfb nudhbr la –bpgslmbs,— os mbagnbm fbrb, gnkrbosbscbss wgtf tgiftbr agnonkgoc klnmgtglns.Klnsbqubntcy, tfb kfonib gn rgse rotgnis gs dukf dlrb strgegni gn tfb

kosb la mbvgotglns arld tfrbsflcms, alr hltf tfb ovbroib onm tfb doxgdud(tohcbs 1.?; onm 1.?=), wfbrb, wgtf tfb bxkbptgln la prbsbnt vocub la mbht

Doxgdud mgstonkb arld tfrbsflcm murgni tfb prl`bktgln pbrglm h

Clw   ≭ ?: ≭ 2: ≭ 2: ≭ 2 ≭ 2

Dlmbrotb ?: ≭ 8: 2: ≭ ?:: 2: ≭ ?:: 2 ≭ ?: 2 ≭ ?:

Fgif   > 8: > ?:: > ?:: > ?: > ?:

[lurkb0 Outflrs.o. [tbp gnkrbosbs usbm klrrbsplnm tl o foca- lr lnb-stbp gnkrbosb gn tfb rgse rotgni

systbd unmbr tfb Ylrcm Hone‛GDA M[A.h. [tbp gnkrbosbs usbm orb bquoc tl lr twgkb tflsb usbm tl ossbss tfb kluntrgbs‗ rgse

rotgnis unmbr tfb Ylrcm Hone‛GDA M[A.

]ohcb 1.?? (klntgnubm)

Cbvbc la 

rgsela mbhtmgstrbss

Zrbsbnt

vocubla mbht tlIMZ

Zrbsbnt

vocub lambht tlbxplrts

Zrbsbnt

vocub lambht tlrbvbnubs

Mbhtsbrvgkb tlbxplrts

Mbhtsbrvgkb tlrbvbnubs

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V6:6x

AK?: ?7 8 ?: ?; 1 ?8 8; 8 1 ;:

AK8: ?1 ; ?8 ?8 2 ?= 8? = 1 81

AK;: ?1 1 7 ?? ?: ?: 8? 1 = 8:

AK=: ?9 ?: = ?= 7 6 8? 9 ; ?=

V9:=x

AK?: ?7 = 6 ?9 1 6 8; ; 2 ;:

AK8: ?1 = ?? ?; 1 ?8 8? = 1 86

AK;: ?1 ?: 2 ?; ?: 6 8? 9 ; ?7

AK=: ?7 6 = ?9 1 6 8; 2 ; 8:

V6:1x

AK?: 8: ; 6 ?6 2 6 8; = = ;:

AK8: ?9 ; ?? ?; 1 ?8 88 ; 1 86

AK;: ?6 1 9 ?2 6 6 88 1 ; 8;

AK=: ?7 6 = ?1 9 6 88 1 ; ?6

?  =   1   ]ohcb 1.?8 (klntgnubm)

Gnmgkotlr

Zrbsbnt vocubmbht tl IMZ

Zrbsbnt vocubmbht tl bxplrts

Zrbsbnt vocubmbht tl rbvbnub

Mbhttl b

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

D

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V6:8x

AK?: 88 = 2 8: ; 6 82 ; ; ;:

AK8: 8? = 1 8: ; 6 8; 2 ; ;:

AK;: 8? 1 = 8: ; 6 8; 2 ; ;:

AK=: 88 2 = 8: ; 6 81 8 ; 87

V7:=x

AK?: 88 = 2 8: ; 6 81 8 ; ;:

AK8: 8? = 1 8: ; 6 8; 2 ; ;:

AK;: 8? 1 = 8: ; 6 8= = ; ;:

AK=: 8? 1 = 8: ; 6 82 ; ; 87

V7:8x

AK?: 88 = 2 8: ; 6 81 8 ; ;:

AK8: 88 = 2 8: ; 6 82 ; ; ;:

AK;: 88 2 = 8: ; 6 81 8 ; ;:

AK=: 8; = = 8: ; 6 81 8 ; ;:

[lurkb0 Outflrs.Nltb0 Fgifcgiftgni gnmgkotbs tfb nudhbr la kosbs tfot orb sgingagkontcy coribr tfon tfb nudhbr gn tfb hos

la kluntrgbs gs ot cbost twgkb tfot gn tfb hosbcgnb alr fgif rgse la mbht mgstrbss onm kosbs gn wfgkf tfb nudhbrtfb hosbcgnb alr dlmbrotb UdbmgudT rgse la mbht mgstrbss, usgni tfb mbagngtglns prlvgmbm gn tohcb 1.??).

?  =   6  

]ohcb 1.?8 (klntgnubm)

Gnmgkotlr

Zrbsbnt vocubmbht tl IMZ

Zrbsbnt vocubmbht tl bxplrts

Zrbsbnt vocubmbht tl rbvbnub

Mbhttl b

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Db

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]ohcb 1.?; Xgse Xotgnis okklrmgni tl tfb Ovbroib Mbvgotgln hy Yfgkf Kluntrgbs ]frbsflcms okrlss Mgaabrbnt Bxplrt [flkes onm Agnonkgoc Klnmgtglns, Bntgrb [odp(nudhbr la kluntrgbs)

Gnmgkotlr

Zrbsbnt vocubmbht tl IMZ

Zrbsbnt vocubmbht tl bxplrts

Zrbsbnt vocubmbht tl rbvbnub

Mbhttl b

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbr

Hosbcgnbskbnorgl 8; 2 ; 8? ; 9 8; 2 ; 86

V9:6x

AK?: ?9 = ?: ?= 2 ?8 88 : 7 8=

AK8: ?2 ; ?; ?? 2 ?2 ?6 ; ?: 8:

AK;: ?= ; ?= 7 1 ?1 ?6 ; ?: ?8

AK=: ?; ? ?9 ?: 2 ?1 ?7 ? ?? ?

V9:1x

AK?: ?9 ; ?? ?9 8 ?8 88 : 7 81

AK8: ?= 1 ?? ?; 1 ?8 8: 8 7 82

AK;: ?= 2 ?8 ?? 1 ?= 8: ? ?: ?2

AK=: ?= ; ?= ?8 = ?2 8: ? ?: ?

?  =  7  

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?   2   :  

V6:6x

AK?: ?7 = 6 ?7 ? ?? 88 ? 6 81

AK8: ?6 ; ?: ?2 2 ?? 88 : 7 81

AK;: ?9 ; ?? ?9 8 ?8 8? ? 7 ?9

AK=: ?1 = ?? ?2 2 ?? 8: 8 7 9

V9:=x

AK?: 8: 8 7 ?9 ; ?? 88 ? 6 81

AK8: ?9 = ?: ?1 ; ?8 88 : 7 81

AK;: ?2 = ?8 ?2 ; ?; 8: 8 7 ?7

AK=: ?2 = ?8 ?= = ?; 8: ? ?: 9

V6:1x

AK?: ?7 2 9 ?7 ; 7 88 ? 6 81

AK8: ?9 = ?: ?6 8 ?? 88 : 7 81

AK;: ?9 = ?: ?9 ; ?? 8? ? 7 8:

AK=: ?9 = ?: ?1 = ?? 8? ? 7 ?;

]ohcb 1.?; (klntgnubm)

Gnmgkotlr

Zrbsbnt vocubmbht tl IMZ

Zrbsbnt vocubmbht tl bxplrts

Zrbsbnt vocubmbht tl rbvbnub

Mbhttl b

Clwrgse Dbmgudrgse Fgifrgse Clwrgse Dbmgudrgse Fgifrgse Clwrgse Dbmgudrgse Fgifrgse Clwrgse Dbr

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V6:=x

AK?: 8: = 9 ?7 = 6 88 8 9 81

AK8: ?6 ; ?: ?7 8 ?: 88 ? 6 81

AK;: ?9 = ?: ?9 = ?: 8? ? 7 8=

AK=: ?9 = ?: ?9 = ?: 8? ? 7 ?=

V9:8x

AK?: 8: = 9 ?1 9 6 8; : 6 82

AK8: ?9 2 7 ?1 2 ?: 8? 8 6 81

AK;: ?9 = ?: ?1 = ?? 8? ? 7 8=

AK=: ?6 ; ?: ?1 ; ?8 8? : ?: ?2

V7:6x

AK?: 8? ; 9 8: ; 6 8; ; 2 89

AK8: ?7 2 9 8: ; 6 88 8 9 89

AK;: ?7 ; 7 ?7 ; 7 88 ? 6 82

AK=: ?7 2 9 ?7 ; 7 88 ? 6 8?

V7:1x

AK?: 8: 2 1 8: ; 6 8; ; 2 89AK8: ?7 2 9 ?7 = 6 88 8 9 89

AK;: ?7 = 6 ?7 ; 7 88 ? 6 81

AK=: ?7 2 9 ?7 ; 7 88 ? 6 8??   2  ?  

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]ohcb 1.?= Xgse Xotgnis Hosbm ln Doxgdud Hrbokf hy Yfgkf Kluntrgbs BxkbbmZrl`bktgln Zbrglm unmbr Mgaabrbnt Bxplrt [flkes onm Agnonkgoc Klnmgtglns, Bntgrb(nudhbr la kluntrgbs)

Gnmgkotlr

Zrbsbnt vocubmbht tl IMZ

Zrbsbnt vocubmbht tl bxplrts

Zrbsbnt vocubmbht tl rbvbnub

Mbhttl b

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Db

Hosbcgnbskbnorgl 8= = ; 8= : 9 8= = ; 86

V9:6x

AK?: ?7 ; 7 ?6 ; ?: 88 ? 6 81

AK8: ?= 1 ?? ?? 6 ?8 ?6 ; ?: 8;

AK;: ?= = ?; ?? 9 ?; ?6 ; ?: ?=

AK=: ?= 2 ?8 ?? 1 ?= 8: ? ?: :

V9:1x

AK?: 8? ? 7 ?6 ; ?: 88 ? 6 81

AK8: ?2 2 ?? ?; 6 ?: 8? ? 7 82

AK;: ?= 1 ?? ?? 7 ?? 8: 8 7 ?2

AK=: ?= 1 ?? ?8 1 ?; 8: 8 7 8

?   2   ;  

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V6:6x

AK?: 8? 8 6 ?6 2 6 88 ; 1 86

AK8: ?7 8 ?: ?7 8 ?: 88 ? 6 89

AK;: ?6 ; ?: ?9 = ?: 88 : 7 ?6

AK=: ?9 = ?: ?9 = ?: 88 : 7 7

V9:=x

AK?: 8? ? 7 ?6 ; ?: 88 ; 1 81

AK8: ?7 8 ?: ?2 1 ?: 88 : 7 82

AK;: ?9 = ?: ?2 2 ?? 8? ? 7 ?6

AK=: ?1 = ?? ?2 = ?8 8? ? 7 6

V6:1x

AK?: 8? 8 6 ?7 2 9 88 ; 1 86

AK8: 8: 8 7 ?7 8 ?: 88 ? 6 86

AK;: ?7 8 ?: ?6 ; ?: 88 ? 6 88

AK=: 8: ? ?: ?9 = ?: 88 ? 6 ?2

?   2  =   ]ohcb 1.?= (klntgnubm)

Gnmgkotlr

Zrbsbnt vocubmbht tl IMZ

Zrbsbnt vocubmbht tl bxplrts

Zrbsbnt vocubmbht tl rbvbnub

Mbhttl b

Clwrgse Dbmgudrgse Fgifrgse Clwrgse Dbmgudrgse Fgifrgse Clwrgse Dbmgudrgse Fgifrgse Clwrgse Dbr

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V6:8x

AK?: 8? ; 9 ?7 2 9 8; = = 86

AK8: 8? 8 6 ?7 = 6 8; 8 1 86

AK;: 8? ? 7 ?7 = 6 88 ; 1 86

AK=: 8? : ?: ?6 = 7 88 ; 1 82

V7:=x

AK?: 8? 1 = 8: = 9 8; 2 ; 86

AK8: 8? 2 2 8: = 9 8; = = 86

AK;: 8? = 1 8? ; 9 8; ; 2 86

AK=: 8? = 1 8? ; 9 8; 8 1 89

V7:8x

AK?: 8? 1 = 8? ; 9 8; 2 ; 86

AK8: 8? 1 = 8? ; 9 8; = = 86

AK;: 8? 2 2 8? ; 9 8; = = 86

AK=: 8? = 1 8? ; 9 8; ; 2 89[lurkb0 Outflrs.Nltb0 Fgifcgiftgni gnmgkotbs tfb nudhbr la kosbs tfot orb sgingagkontcy coribr tfon tfb nudhbr gn tfb hos

la kluntrgbs gs ot cbost twgkb tfot gn tfb hosbcgnb alr fgif rgse la mbht mgstrbss onm kosbs gn wfgkf tfb nudhbrtfb hosbcgnb alr dlmbrotb UdbmgudT rgse la mbht mgstrbss, usgni tfb mbagngtglns prlvgmbm gn tohcb 1.??).

?   2   1  

]ohcb 1.?= (klntgnubm)

Gnmgkotlr

Zrbsbnt vocubmbht tl IMZ

Zrbsbnt vocubmbht tl bxplrts

Zrbsbnt vocubmbht tl rbvbnub

Mbhttl b

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Dbmgudrgse

Fgifrgse

Clwrgse

Db

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tfb kosb la gmo-lncy oargkon kluntrgbs ?29 

tl bxplrts, tfb do`lrgty la kluntrgbs dlvb arld tfb clw tl tfb fgif rgsekotbilry. Gn sldb kosbs, tfb mbtbrglrotgln pbrsgsts bvbn igvbn tfb dgcmbrsflkes onm slatbr agnonkgni klnmgtglns.

Hbkousb la clnibr rbpoydbnt pbrglms, tfb gnkrbosb gn tfb nudhbr lakosbs la fgif rgse la mbht mgstrbss gs coribr usgni tfb nudhbr la –bpgslmbs—unmbr cbss strgnibnt agnonkgoc klnmgtglns (sbb tohcb 1.?8). Alr gnstonkb, osflke gn wfgkf bxplrts aocc ;: pbrkbnt onm tfb rbklvbry pbrglm gs bgiftybors, tfb nudhbr la kluntrgbs kcossgagbm os ot fgif rgse la mbht mgstrbssgnkrbosbs wgtf rbspbkt tl tfb hosbcgnb dlrb sgingagkontcy gn tfb kosb lao 8.82 pbrkbnt gntbrbst rotb wgtf o ?:-ybor doturgty onm o 2-ybor irokbpbrglm (AK8:)”arld = tl ?;, 6 tl ?1, ; tl 7, ? tl 2, onm ? tl 2 usgni tfbagvb mgaabrbnt mbht hurmbn gnmgkotlrs”tfon gn tfb AK=: kosb.

Lvbrocc, tfb rbsucts arld tfb sgducotglns usgni om flk (hut cbngbnt)mbagngtglns alr clw, dlmbrotb, onm fgif rgse la mbht mgstrbss fgifcgift tfbgdplrtonkb la klnkbssglnoc agnonkgni alr clw-gnkldb kluntrgbs, bspbkgoccygn o dlrb sbvbrb (mbbp onm prltroktbm) krgsgs. [ukf agnonkgni doy nlt hbbnluif gn kosbs gn wfgkf tfb rgse rotgnis mbtbrglrotb sgingagkontcy bvbnunmbr tfb dgcmbst nbiotgvb agnonkgoc klnmgtglns, flwbvbr.

Klnkcumgni Xbdores

Gn tfgs kfoptbr, wb onocyzb tfb gdpokts la tfb iclhoc agnonkgoc krgsgs ln ;?GMO-lncy kluntrgbs gn Oargko. Gn portgkucor, wb bxodgnb tfb gdpokt ln tfbgr(bxtbrnoc) mbht sustognohgcgty sgtuotgln hy cllegni ot tfb plssghcb baabktsla tfb krgsgs ln tfb agvb mbht hurmbn gnmgkotlrs”tfb prbsbnt vocub la mbhtlvbr IMZ, tfb prbsbnt vocub la mbht lvbr bxplrts, tfb prbsbnt vocub lambht lvbr ilvbrndbnt rbvbnubs, mbht sbrvgkb lvbr bxplrts, onm mbht sbrvgkblvbr ilvbrndbnt rbvbnubs”usbm gn tfb Ylrcm Hone‛GDA M[A. ]fb onocy-sgs, klnmuktbm alr ?8 fypltfbtgkoc sflkes gn bxplrts, vorygni gn mbptfonm cbnitf, ossudbs tfot kluntrgbs hlrrlw unmbr alur sbts la agnonkgoc

klnmgtglns tl sdlltf lut tfb baabkt la tfb krgsgs sl tfot mldbstgk ohslrp-tgln gs nlt omvbrsbcy oaabktbm. Yb prl`bkt tfb agvb mbht hurmbn gnmgkotlrsalr 8::7‛89 onm onocyzb wfbtfbr kluntrgbs hrbokf tfb kluntry-spbkgagktfrbsflcms bstohcgsfbm unmbr tfb `lgnt Ylrcm Hone‛ GDA M[A. Yb alkus lntfb murotgln la bokf hrbokf onm ln tfb ovbroib onm doxgdud hrbokfbs(mgstonkb arld tfrbsflcm) os on gnmgkotlr la tfb prlhohgcgty la mbht mgstrbss.]fb onocysgs gs klnmuktbm gnmgkotlr hy gnmgkotlr alr tfb bntgrb sodpcb alrtfb kosb gn wfgkf tfb mrlp gn bxplrts kousbs o prlplrtglnoc sclwmlwn gnIMZ.

Os bxpbktbm, mbht hurmbn gnmgkotlrs mbtbrglrotb sgingagkontcy alr occ klun-trgbs wgtf tfb sbvbrgty la tfb krgsgs, igvbn tfb agnonkgoc klnmgtglns unmbr wfgkfo kluntry agnonkbs (suhstgtutbs) gts rbmukbm bxplrt prlkbbms. O tgiftbngni laagnonkgoc klnmgtglns cboms tl o sgingagkont mbtbrglrotgln gn cgqugmgty lr mbhtsbrvgkb gnmgkotlrs5 slcvbnky lr tfb prbsbnt vocub la mbht-hosbm gnmgkotlrs

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tfb kosb la gmo-lncy oargkon kluntrgbs ?27

Onnbx 1O0 Mbht Hurmbn Gnmgkotlrs alr o ]ypgkocClw-Gnkldb Kluntry

Agiurb 1O.? Zrbsbnt Qocub la Mbht tl IMZ Xotgl Igvbn8: Zbrkbnt Bxplrt [flke

:

?:

8:

;:

=:

2:

1:

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b

  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b

  n   t

9:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

:?:8:;:=:2:1:9:6:

:?:

8:;:=:2:1:9:

6:

:

8:

=:

1:

6:

?::

?8:

:?:8:;:=:2:1:9:6:7:

:

8:

=:

1:

6:

?::

?8:

:

8:

=:

1:

6:

?::

:?:8:;:=:2:

1:9:6:7:

tfrbsflcm   hosbcgnb   V6:=AK?:

V6:=AK8: V6:=AK;: V6:=AK=:

tfrbsflcm   hosbcgnb   V6:8AK8:

V6:=AK8: V6:1AK8: V6:6AK8:

tfrbsflcm   hosbcgnb   V6:8AK;:

V6:=AK;: V6:1AK;: V6:6AK;:

tfrbsflcm   hosbcgnb   V6:1AK?:

V6:1AK8: V6:1AK;: V6:1AK=:

tfrbsflcm   hosbcgnb   V6:6AK?:

V6:6AK8: V6:6AK;: V6:6AK=:

tfrbsflcm   hosbcgnb   V6:8AK=:

V6:=AK=: V6:1AK=: V6:6AK=:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:8AK8: V6:8AK;: V6:8AK=:

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:=AK?: V6:1AK?: V6:6AK?:

o. Klnstont sflkes, vorygni

agnonkgoc klnmgtglns

h. Klnstont agnonkgoc klnmgtglns,

vorygni sflkes

[lurkb0 Outflrs.Nltb0 [bb tohcb 1.8 alr bxpconotgln la sflke typbs.

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?1:  fbrnïnmbz onm iodorro

Agiurb 1O.8 Zrbsbnt Qocub la Mbht tl Bxplrts Xotgl Igvbn8: Zbrkbnt Bxplrt [flke

:

8:

=:

1:

6:

?::

?8:

:

8:

=:

1:

6:

?::

?8:

:

8:

=:

1:

6:

?::

?8:

:

8:

=:

1:

6:

?::

?8:?=:

?1:

:

8:

=:

1:

6:

?::

?8:

?=:

:

8:

=:

1:

6:

?::

?8:

?=:

?1:

:

8:

=:

1:

6:

?::

?8:

?=:

:

8:

=:

1:

6:

?::

?8:

tfrbsflcm   hosbcgnb   V6:=AK?:

V6:=AK8: V6:=AK;: V6:=AK=:

tfrbsflcm   hosbcgnb   V6:8AK8:

V6:=AK8: V6:1AK8: V6:6AK8:

tfrbsflcm   hosbcgnb   V6:8AK;:

V6:=AK;: V6:1AK;: V6:6AK;:

tfrbsflcm   hosbcgnb   V6:1AK?:

V6:1AK8: V6:1AK;: V6:1AK=:

tfrbsflcm   hosbcgnb   V6:6AK?:V6:6AK8: V6:6AK;: V6:6AK=:

tfrbsflcm   hosbcgnb   V6:8AK=:V6:=AK=: V6:1AK=: V6:6AK=:

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:8AK8: V6:8AK;: V6:8AK=:

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:=AK?: V6:1AK?: V6:6AK?:

? 8 ; = 2 1 9 6 7 ?:

ybor

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

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  p  b  r  k  b  n   t

ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7   ? 8 ; = 2 1 9 6 7 ?: ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

? 8 ; = 2 1 9 6 7 ?:

ybor   ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7   ? 8 ; = 2 1 9 6 7 ?: ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

o. Klnstont sflkes, vorygni

agnonkgoc klnmgtglns

h. Klnstont agnonkgoc klnmgtglns,

vorygni sflkes

[lurkb0 Outflrs.Nltb0 [bb tohcb 1.8 alr bxpconotgln la sflke typbs.

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tfb kosb la gmo-lncy oargkon kluntrgbs ?1?

Agiurb 1O.; Zrbsbnt Qocub la Mbht tl Xbvbnubs Xotgl Igvbn8: Zbrkbnt Bxplrt [flke

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2:

?::

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8::

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82:

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8::

82:

:

2:

?::

?2:

8::

82:

:

2:

?::

?2:

8::

82:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:8AK8: V6:8AK;: V6:8AK=:

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:=AK?: V6:1AK?: V6:6AK?:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:=AK?:

V6:=AK8: V6:=AK;: V6:=AK=:

tfrbsflcm   hosbcgnb   V6:8AK8:

V6:=AK8: V6:1AK8: V6:6AK8:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:8AK;:

V6:=AK;: V6:1AK;: V6:6AK;:

tfrbsflcm   hosbcgnb   V6:1AK?:

V6:1AK8: V6:1AK;: V6:1AK=:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:6AK?:

V6:6AK8: V6:6AK;: V6:6AK=:

tfrbsflcm   hosbcgnb   V6:8AK=:

V6:=AK=: V6:1AK=: V6:6AK=:

o. Klnstont sflkes, vorygni

agnonkgoc klnmgtglns

h. Klnstont agnonkgoc klnmgtglns,

vorygni sflkes

[lurkb0 Outflrs.Nltb0 [bb tohcb 1.8 alr bxpconotgln la sflke typbs.

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 190/527

?18  fbrnïnmbz onm iodorro

Agiurb 1O.= Mbht [brvgkb tl Ilvbrndbnt Xbvbnubs XotglIgvbn 8: Zbrkbnt Bxplrt [flke

:

2

?:

?2

8:

82

;:

:

2?:

?2

8:

82;:

;2

=:

:

2

?:

?2

8:

82

;:

:

2

?:

?2

8:82

;:

:?:

8:

;:

=:

2:

:

?:

8:

;:

=:

2:

1:

:

2

?:

?2

8:

82

;:

;2

:

?:

8:

;:

=:

2:

1:

? 8 ; = 2 1 9 6 7 ?:

ybor   ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7   ? 8 ; = 2 1 9 6 7 ?: ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:8AK8: V6:8AK;: V6:8AK=:

tfrbsflcm   hosbcgnb   V6:8AK?:

V6:=AK?: V6:1AK?: V6:6AK?:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:=AK?:

V6:=AK8: V6:=AK;: V6:=AK=:

tfrbsflcm   hosbcgnb   V6:8AK8:

V6:=AK8: V6:1AK8: V6:6AK8:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:8AK;:

V6:=AK;: V6:1AK;: V6:6AK;:

tfrbsflcm   hosbcgnb   V6:1AK?:

V6:1AK8: V6:1AK;: V6:1AK=:

? 8 ; = 2 1 9 6 7 ?:

ybor ybor?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7 ? 8 ; = 2 1 9 6 7 ? : ?? ?8 ?; ?= ?2 ?1 ?9 ?6 ?7

tfrbsflcm   hosbcgnb   V6:6AK?:

V6:6AK8: V6:6AK;: V6:6AK=:

tfrbsflcm   hosbcgnb   V6:8AK=:

V6:=AK=: V6:1AK=: V6:6AK=:

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

o. Klnstont sflkes, vorygni

agnonkgoc klnmgtglns

h. Klnstont agnonkgoc klnmgtglns,

vorygni sflkes

[lurkb0 Outflrs.Nltb0 [bb tohcb 1.8 alr bxpconotgln la sflke typbs.

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 191/527

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 192/527

?1=  fbrnïnmbz onm iodorro

Onnbx 1H0 Mbht Hurmbn Gnmgkotlrs alr tfb Aucc [odpcb

Agiurb 1H.? Nudhbr la Bpgslmbs ohlvb ]frbsflcm

o. Zrbsbnt vocub mbht/IMZ

   V   9  :  6  x

   V   9  :  1  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  xA  K  ? : A  K  8  : 

A  K  ;  : 

A  K  = : 

:

2:

?::?2:

8::

82:

;::

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f

  r  b  s   f  l   c   m

t y p b  l a  s f l k e 

h. Zrbsbnt vocub mbht/bxplrts

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  xA  K  ? : A  K  8  : 

A  K  ;  : 

A  K  = : 

:

2:

?::

?2:

8::

82:

;::

;2:

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

t y p b  l a  s f l k e 

k. Zrbsbnt vocub mbht/rbvbnub

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V

   9  :  8  x

   V  7  :

  6  x

   V  7  :  1  x

   V  6  :  8  x

   V  7  : =

  x

   V  7  :  8

  xA  K  ? : A  K  8  : 

A  K  ;  : 

A  K  = : :

8:=:1:6:?::?8:?=:?1:?6:

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

t y p b  l a  s f l k e 

(klntgnubm nbxt poib)

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 193/527

tfb kosb la gmo-lncy oargkon kluntrgbs ?12

Agiurb 1H.? (klntgnubm)

m. Mbht sbrvgkb/bxplrts

   V   9  :  6

  x

   V   9  :  1

  x

  6  :  6  x

   V   9  :

 =  x

   V  6  :  1  x

   V  6  : =  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x   A  K  ? : A  K  8  : 

A  K  ;  : 

A  K  = : 

:

2:

?::

?2:

8::

82:

;::

  n  u  d

   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

t y p b  l a  s f l k e 

b. Mbht sbrvgkb/rbvbnub

   V   9  :  6

  x

   V   9  :  1

  x

  6  :  6  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x   A  K  ? : A  K  8  : 

A  K  ;  : 

A  K  = : 

:

8:

=:

1:

6:

?::

?8:

?=:

?1:

?6:

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

t y p b  l a  s f l k e 

[lurkb0 Outflrs.

Nltb0 [bb tohcb 1.8 alr bxpconotgln la sflke typbs.

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 194/527

?11  fbrnïnmbz onm iodorro

Agiurb 1H.8 [ud la Kluntry Ovbroibs ohlvb ]frbsflcm

o. Zrbsbnt vocub mbht/IMZ

:

?::

8::

;::

=::

2::

1::

   V   9  :  6

  x

   V   9  :  1

  x  x  6

  :  6  x

   V   9  : =

  x   V  6

  :  1  x

   V  6  : =

  x

   V   9  :

  8  x

   V  7  :  6  x

   V  7  :  1  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x

t y p b  l a  s f l k e  A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

h. Zrbsbnt vocub mbht/bxplrts

:

2::

?,:::

?,2::

8,:::

8,2::

;,:::

   V   9  :  6

  x

   V   9  :  1

  x  x  6  :  6

  x

   V   9  : =

  x   V  6

  :  1  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x

t y p b  l a  s f l k e A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

  n  u  d   h  b  r  l   a  b  p

   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s

   f  l   c   m

k. Zrbsbnt vocub mbht/rbvbnub

:

2::

?,:::

?,2::

8,:::

8,2::

t y p b  l a  s f l k e A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

(klntgnubm nbxt poib)

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 195/527

tfb kosb la gmo-lncy oargkon kluntrgbs ?19 

Agiurb 1H.8 (klntgnubm)

[lurkb0 Outflrs.Nltb0 [bb tohcb 1.8 alr bxpconotgln la sflke typbs.

m.Mbht sbrvgkb/bxplrts

:

2:

?::

?2:

8::

82:

;::

;2:

=::

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :

  8  x

   V  7  :  6  x

   V  7  :  1  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  xt y p b  l a  s f l k e 

  A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

b.Mbht sbrvgkb/rbvbnub

:

?::

8::

;::

=::

2::

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x

t y p b  l a  s f l k e    A  K  ? : A  K  8  : 

A  K  ;  : 

A  K  = : 

  n  u  d   h  b  r  l   a  b  p

   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s

   f  l   c   m

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 196/527

?16  fbrnïnmbz onm iodorro

Agiurb 1H.; [ud la Kluntry Doxgdud ohlvb ]frbsflcm

o. Zrbsbnt vocub mbht/IMZ

t y p b  l a  s f l k e :8::

=::

1::

6::

?,:::

?,8::

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V

  6  :  1  x

   V  6  : =

  x

   V   9  :  8  x

   V  7  :  6  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

h. Zrbsbnt vocub mbht/bxplrts

t y p b  l a  s f l k e 

:

?,:::

8,:::

;,:::

=,:::

2,:::

1,:::

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x   A  K  ? : A  K  8  : 

A  K  ;  : 

A  K  = : 

  n  u  d   h  b  r  l   a  b  p   g  s  l   m

  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

k. Zrbsbnt vocub mbht/rbvbnub

:

2::

?,:::

?,2::

8,:::

8,2::

;,:::

;,2::

=,:::

=,2::

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8  x

t y p b  l a  s f l k e 

A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

(klntgnubm nbxt poib)

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tfb kosb la gmo-lncy oargkon kluntrgbs ?17

Agiurb 1H.; (klntgnubm)

m. Mbht sbrvgkb/bxplrts

:

?::

8::

;::

=::

2::

1::

9::

6::

   V   9  :  6

  x

   V   9  :  1

  x

  x  6  :  6

  x

   V   9  : =

  x

   V  6  :

  1  x

   V  6  : =  x

   V   9  :  8  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

t y p b  l a  s f l k e 

  n  u

  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

b. Mbht sbrvgkb/rbvbnub

:

?::

8::

;::

=::

2::

1::

9::6::

7::

   V   9  :  6

  x

   V   9  :  1

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  x  6  :  6

  x

   V   9  : =

  x

   V  6  :  1

  x

   V  6  : =

  x

   V   9  :  8

  x

   V  7  :  6

  x

   V  7  :  1

  x

   V  6  :  8

  x

   V  7  : =

  x

   V  7  :  8

  x  A  K  ? : 

A  K  8  : 

A  K  ;  : 

A  K  = : 

t y p b  l a  s f l k e 

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s

  o   h  l  v  b   t   f  r  b  s   f  l   c   m

[lurkb0 Outflrs.Nltb0 [bb tohcb 1.8 alr bxpconotgln la sflke typbs.

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?9:  fbrnïnmbz onm iodorro

Onnbx 1K0 ]fb Mbht [ustognohgcgty Arodbwlre

]fb Mbht [ustognohgcgty Arodbwlre  (M[A) wos omlptbm gn 8::2 hy tfbYlrcm Hone onm tfb GDA os tfb stonmorm tllc alr onocyzgni mbht-rbcotbmvucnbrohgcgtgbs gn clw-gnkldb kluntrgbs (sbb fttp0//il.wlrcmhone.lri/ O2QAVPKKY:). Gts lh`bktgvb gs tl supplrt tfbsb kluntrgbs‗ baalrts tl dbbttfbgr mbvbclpdbnt ilocs wgtflut krbotgni auturb mbht prlhcbds. Rnmbr tfbM[A, tfb Ylrcm Hone onm tfb GDA onnuoccy pbralrd Mbht [ustognohgcgtyOnocysbs (M[Os) ossbssgni kluntrgbs‗ rgse la mbht mgstrbss lvbr o 8:-yborflrgzln. ]fgs alrworm-cllegni opprlokf fbcps kluntrgbs hoconkb tfbgrnbbm alr aunms wgtf tfbgr kurrbnt onm prlspbktgvb ohgcgty tl rbpoy. Gt ocslocclws krbmgtlrs tl togclr tfbgr agnonkgni tbrds gn ontgkgpotgln la auturbmbht mgstrbss sgtuotglns.

M[Os klnmuktbm unmbr tfb M[A alkus ln agvb mbht hurmbn gnmgkotlrsalr puhcgk bxtbrnoc mbht0 tfb prbsbnt vocub la mbht tl IMZ, tfb prbsbntvocub la mbht tl bxplrts, tfb prbsbnt vocub la mbht tl rbvbnubs, mbht sbrvgkbtl rbvbnubs, onm mbht sbrvgkb tl bxplrts. Bokf la tfbsb gnmgkotlrs fos ongnmgkotgvb tfrbsflcm gn tfb arodbwlre tfot mbpbnms ln o kluntry‗s quoc-gty la plcgkgbs onm gnstgtutglns, os dbosurbm hy tfb tfrbb-ybor ovbroib latfb Kluntry Zlcgky onm Gnstgtutglnoc Ossbssdbnt (KZGO) gnmbx kldpgcbmonnuoccy hy tfb Ylrcm Hone (tohcb 1K.?). ]fb spbkgagk tfrbsflcms orb os

alcclws0O rotgni la tfb rgse la bxtbrnoc mbht mgstrbss gs mbrgvbm hy rbvgbwgni tfb

bvlcutgln la tfb mbht hurmbn gnmgkotlrs wgtf rbspbkt tl tfbgr gnmgkotgvbplcgky-mbpbnmbnt tfrbsflcms unmbr o hosbcgnb skbnorgl, octbrnotgvb skb-norgls, onm strbss tbsts. ]fbrb orb alur plssghcb rotgnis0

]ohcb 1K.? Bxtbrnoc Zuhcgk Mbht Hurmbn ]frbsflcms unmbrtfb Mbht [ustognohgcgty ]frbsflcm

Zlcgky

Nbt prbsbnt vocub lambht os pbrkbntoib la 

Mbht sbrvgkb os pbrkbntoib la 

Bxplrts IMZ Xbvbnub Bxplrts Xbvbnub

Yboe(KZGO gnmbx 3 ;.82)

?:: ;: 8:: ?2 82

Dbmgud(KZGO gnmbx > ;.82onm 3 ;.92) ?2: =: 82: 8: ;:

[trlni (KZGO gnmbx≢ ;.92)

8:: 2: ;:: 82 ;2

[lurkb0 GDA/GMO 8::7.Nltb0 KZGO gnmbx gs dbosurbm os o tfrbb-ybor ovbroib.

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tfb kosb la gmo-lncy oargkon kluntrgbs ?9?

• Clw rgse0 Occ mbht hurmbn gnmgkotlrs orb wbcc hbclw tfb rbcbvontkluntry-spbkgagk tfrbsflcms. ]frbsflcms orb nlt hrbokfbm unmbr onystrbss tbsts lr octbrnotgvb skbnorgls.

• Dlmbrotb rgse0 Octfluif tfb hosbcgnb skbnorgl mlbs nlt gnmgkotb ohrbokf la tfrbsflcms, octbrnotgvb skbnorgls onm strbss tbsts rbsuct gn osgingagkont rgsb gn mbht sbrvgkb gnmgkotlrs lvbr tfb prl`bktgln pbrglm(nborgni tfrbsflcms) lr o hrbokf la lnb lr dlrb tfrbsflcms.

• Fgif rgse0 ]fb hosbcgnb skbnorgl gnmgkotbs o prltroktbm hrbokf la mbhthurmbn tfrbsflcms, hut tfb kluntry mlbs nlt kurrbntcy aokb ony poy-dbnt mgaagkuctgbs. Octbrnotgvb skbnorgls lr strbss tbsts sflw prltroktbmtfrbsflcm hrbokfbs.

• Gn mbht mgstrbss0 Kurrbnt mbht onm mbht sbrvgkb rotgls orb gn sgingag-

kont lr sustognbm hrbokf la tfrbsflcms. Oktuoc lr gdpbnmgni mbht-rbstrukturgni nbiltgotglns lr tfb bxgstbnkb la orrbors wlucm ibnbroccysuiibst tfot o kluntry gs gn mbht mgstrbss.

]fb gnmgkotgvb plcgky-mbpbnmbnt tfrbsflcms gn tfb M[A orb sbt sl tfottfb prlhohgcgtgbs la mbht mgstrbss ronib hbtwbbn ?6 onm 88 pbrkbnt alrKZGO rotgnis la ;.82, ;.2, onm ;.92 (tfb hbnkfdores alr strlni, dbmgud,onm wboe pbralrdbrs, rbspbktgvbcy). ]fbrbalrb, o fgif rgse rotgni (uncgebon –gn mbht mgstrbss— rotgni) sflucm nlt hb gntbrprbtbm os synlnydlus wgtfon unsustognohcb mbht sgtuotgln.

Octfluif tfb alkus la M[Os gs ln puhcgk onm puhcgkcy iuorontbbm bxtbr-noc mbht, tfby ocsl gnkcumb onocysgs la puhcgk mbht sustognohgcgty. ]fb M[Amlbs nlt, flwbvbr, gnkcumb gnmgkotgvb tfrbsflcms alr tltoc puhcgk mbht.

Nltbs

]fb outflrs orb bxtrbdbcy irotbauc tl Korcls O. Zrgdl Hroio alr plsgni tfb qubs-tgln tfot cbm tl tfgs rbsborkf. ]fby orb ocsl irotbauc tl Zoucgno Ironomls alr fbr

bxkbccbnt onm baagkgbnt ossgstonkb, wgtflut wfgkf tfgs prl`bkt klucm nlt fovb hbbnplssghcb, onm tl Dgzufl Egmo, Dlno Zrosom, [lno Qordo, onm on onlnydlusrbabrbb alr tfbgr vocuohcb klddbnts.

  ?. [ldb kluntrgbs bxpbrgbnkbm on gnkrbosb gn rbdgttonkbs os o rbsuct la tfbrbpotrgotgln la kopgtoc arld tfb flst kluntrgbs. ]fgs gs o lnb-laa pfbnldbnln tfotrbacbkts tfb kclsurb la aodgcy husgnbssbs os o rbsuct la tfb rbkbssgln gn mbvbclpbmkluntrgbs.

  8. ]fb ;? kluntrgbs orb Onilco, Hbngn, Huregno Aosl, Hurunmg, Kopb Qbrmb,Kodbrlln, Kbntroc Oargkon Xbpuhcgk, Kfom, Kldlrls, tfb Mbdlkrotgk Xbpuhcgk laKlnil, tfb Xbpuhcgk la Klnil, Kýtb m‗Gvlgrb, Brgtrbo, ]fb Iodhgo, Ifono, Iugnbo,Iugnbo-Hgssou, Ebnyo, Cghbrgo, Domoioskor, Dourgtongo, Dlzodhgqub, Ngibr,Xwonmo, [ël ]ldç onm Zrgnkgpb, [bnbioc, [umon, ]onzongo, ]lil, Rionmo, onm

Podhgo. Alr occ hut ?? la tfbsb kluntrgbs, tfb cotbst M[O motb gs sukf tfot oktuoc motobnm gn 8::9 (prl`bktbm moto stort gn 8::6). Alr tfrbb la tfb rbdogngni kluntrgbs(tfb Mbdlkrotgk Xbpuhcgk la Klnil, Iugnbo, onm Podhgo), tfb cotbst M[O motb gssukf tfot prl`bktbm moto stort gn 8::9. Alr tfb rbdogngni bgift kluntrgbs (Onilco,

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?98  fbrnïnmbz onm iodorro

Hbngn, Kodbrlln, tfb Kbntroc Oargkon Xbpuhcgk, Ifono, Iugnbo-Hgssou, Ebnyo,onm [bnbioc), oktuoc moto bnm gn 8::6 (prl`bktbm moto stort gn 8::7).

  ;. ]fb lgc onm allm klddlmgty prgkbs hlld tfot lkkurrbm hbalrb tfb agnonkgoc

krgsgs klucm oriuohcy ocsl hgos tfb hosbcgnb gn borcgbr M[Os. ]fb sgin la tflsb hgosbswgcc mbpbnm ln bokf kluntry‗s bxplrt kldplsgtgln.  =. ]fgs pltbntgoc lvbrbstgdotgln la tfb mbtbrglrotgln gn kluntrgbs‗ mbht hurmbn

gnmgkotlrs rbabrs bxkcusgvbcy tl tfb baabkt ln tfb nudbrotlr (tfb prbsbnt vocub lambht lr mbht sbrvgkb) la tfb agvb mbht hurmbn gnmgkotlrs. ]fb baabkt ln tfb mbnldgno-tlr, gn portgkucor tltoc bxplrts, wlres gn tfb lpplsgtb mgrbktgln.

  2. ]fbsb ossudptglns ogd lncy ot gccustrotgni pcousghcb skbnorgls alr clw-gnkldb kluntrgbs5 tfby orb nlt hosbm ln o spbkgagk rotglnocb. ]fb bxtbnt tl wfgkftfbsb fypltfbtgkoc skbnorgls rbsbdhcb tfb oktuoc sgtuotgln gn bokf kluntry lhvg-luscy mbpbnms ln flw gntbirotbm wgtf tfb wlrcm bklnldy bokf kluntry gs onm flwmgvbrsgagbm gts bxplrts orb.

  1. Yb usb portgoc bqugcghrgud, wfgkf gs tfb woy octbrnotgvb skbnorgls orb dlm-

bcbm gn M[O tbdpcotbs. O mrlp gn bxplrts mlbs nlt outldotgkoccy tronscotb gntlclwbr IMZ5 IMZ nbbms tl hb donuoccy ebybm gntl tfb dokrl arodbwlre. ]fbdbkfongks la tfb sbnsgtgvgty onocysgs hugct gntl tfb M[O tbdpcotb orb prbsbntbmot fttp0//sgtbrbslurkbs.wlrcmhone.lri/GN]MBH]MBZ]/Xbslurkbs/M[OIRGMB\BV]8::1?:.pma.

  9. Gn M[O tbdpcotbs, ilvbrndbnt rbvbnubs orb prl`bktbm os o prlplrtgln laIMZ.

  6. ]fb ?0? suhstgtutgln la nbw mbht alr bxplrts gs nlt outldotgkoccy cgnebmtl tfb baabkt la tfb krgsgs ln IMZ (tfot gs, tfb tronsdgssgln dbkfongsd mgskussbmborcgbr).

7. Alr bokf kluntry, =6 skbnorgls (?8 sflkes vorygni gn mbptf onm murotgln

tgdbs = agnonkgoc klnmgtglns) nbbm tl hb onocyzbm. ?:. ]fb tohcbs fgifcgift tfb nudhbr la kosbs tfot orb sgingagkontcy coribr tfon

tfb nudhbr gn tfb hosbcgnb (tfot gs, kosbs gn wfgkf tfb nudhbr la kluntrgbs gs otcbost twgkb tfot gn tfb hosbcgnb alr fgif rgse la mbht mgstrbss onm kosbs gn wfgkf tfbnudhbr la kluntrgbs gs dlrb tfon twgkb tfot gn tfb hosbcgnb alr dlmbrotb UdbmgudTrgse la mbht mgstrbss, usgni tfb mbagngtglns prlvgmbm gn tohcb 1.??).

??. Alr o prbcgdgnory ossbssdbnt la tfb oktuoc baabkts la tfb krgsgs ln o irlup laclw- onm dgmmcb-gnkldb kluntrgbs, sbb GDA (8:?:).

Xbabrbnkbs

Kcobssbns, [., D. O. Elsb, onm D. B. ]brrlnbs. 8::6. –Yfot Foppbns murgniXbkbssglns, Krunkfbs onm Husts<— GDA Ylregni Zopbr :6/89=, GntbrnotglnocDlnbtory Aunm, Yosfgnitln, MK.

GDA (Gntbrnotglnoc Dlnbtory Aunm) 8:?:. –Zrbsbrvgni Mbht [ustognohgcgty gn Clw-Gnkldb Kluntrgbs gn tfb Yoeb la tfb Iclhoc Krgsgs.— [D/?:/91. Yosfgnitln, MK.

GDA (Gntbrnotglnoc Dlnbtory Aunm) onm GMO (Gntbrnotglnoc Mbvbclpdbnt Ossl-kgotgln). 8::7. O Xbvgbw la [ldb Ospbkts la tfb Clw-Gnkldb Kluntry Mbht[ustognohgcgty Arodbwlre. Ouiust, Yosfgnitln, MK.

Xotfo, Mgcgp, [onebt Dlfopotro, onm Ong [gcwoc. 8::7. –Dgirotgln onm Mbvbclp-

dbnt Hrgba 7.— Ylrcm Hone Dgirotgln onm Xbdgttonkbs ]bod, MbvbclpdbntZrlspbkts Irlup, Ylrcm Hone, Yosfgnitln, MK.

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?9;

9

Ml Dgmmcb-Gnkldb Kluntrgbs

[tgcc Fovb tfb Ohgcgty tl Mbocwgtf tfb Iclhoc Agnonkgoc Krgsgs<

Xocpf Qon Mllrn, Qgvbe [urg, onm[umorsfon Illptu

Ot tfb bvb la tfb 8::6 iclhoc agnonkgoc krgsgs, dlst dgmmcb-gnkldbkluntrgbs fom hbbn aokgni aovlrohcb dorebt klnmgtglns onm fomgdprlvbm tfbgr mbht donoibdbnt kopokgty, rbmukbm gnacotgln,

gdprlvbm agskoc onm kurrbnt okklunt hoconkbs, onm okkuducotbm alrbginbxkfonib rbsbrvbs, gn port hbkousb la sustognbm gdpcbdbntotgln la pru-mbnt dokrlbklnldgk plcgkgbs hbtwbbn 8::8 onm 8::9 onm opprlprgotbstrukturoc rbalrds. ]fb krgsgs rbvbocbm mgaabrbnkbs okrlss tfbsb kluntrgbs.Dony dgmmcb-gnkldb kluntrgbs wbrb hbttbr ohcb tl klpb wgtf tfb gdpokt

la tfb iclhoc krgsgs tfon tfby fom hbbn gn tfb cotb ?77:s tl tfb borcy 8:::s.Ltfbrs wbrb wboebr, hbkousb la gntbrnoc onm bxtbrnoc gdhoconkbs tfotbdbribm, onm wbrb tfus fgt formbr, rbmukgni tfbgr ohgcgty tl rbsplnm gn8::6 onm 8::7 onm pbrfops gn tfb dbmgud tbrd ga tfb iclhoc rbklvbrygs wboe.

]fgs kfoptbr fgifcgifts tfbsb mgaabrbnkbs gn o sodpcb la 8: dgmmcb-gnkldb kluntrgbs gn lrmbr tl stgducotb mbhotb ohlut tfb woy alrworm gnmbocgni wgtf tfb iclhoc agnonkgoc krgsgs (tohcb 9.?).? Occ 8: kluntrgbs gn tfbsodpcb bxkbpt Funiory orb dgmmcb-gnkldb kluntrgbs (Funiory, wfgkf

iromuotbm arld dgmmcb-gnkldb stotus gn 8::6, wos gnkcumbm hbkousb tfbgdpokt la tfb iclhoc agnonkgoc krgsgs onm oatbrdotf tfbrb worronts o sgdg-cor typb la onocysgs). ]fb sodpcb gnkcumbs hltf donuaokturbm illms onmklddlmgty bxplrtbrs tl bnsurb tfot tfb mgaabrbnt gngtgoc klnmgtglns onm

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?9=  von mllrn, surg, onm illptu

tronsdgssgln kfonnbcs la tfb klddlmgty hlld onm hust kykcb onm tfbiclhoc agnonkgoc krgsgs orb kopturbm.

]fb sodpcb klvbrs kluntrgbs wgtf vbry mgaabrbnt plpucotgln sgzbsonm IMZs. Ot tfb sodb tgdb, tfb kluntrgbs sforb gdplrtont sgdgcorgtgbs.Nborcy occ fovb toppbm gntbrnotglnoc kopgtoc dorebts, occ fovb ottroktbmcorib vlcudbs la sflrt-tbrd bxtbrnoc agnonkgni, onm occ orb bcgighcb alraunmgni arld tfb nlnklnkbssglnoc wgnmlw la tfb Ylrcm Hone (tfb Gntbr-notglnoc Hone alr Xbklnstruktgln onm Mbvbclpdbnt) onm ltfbr ductgcot-broc gnstgtutglns. Dlst la tfb sodpcb kluntrgbs orb cgnebm tl fgif-gnkldbkluntrgbs tfrluif hltf tromb onm agnonkgoc dorebt kfonnbcs. ]fb iclhocagnonkgoc krgsgs tfus oaabktbm tfbd hltf mgrbktcy, tfrluif kopgtoc aclwrbvbrsocs, bxkfonib rotb prbssurbs, onm gnkrbosbm hlrrlwgni sprboms gngntbrnotglnoc krbmgt dorebts, onm gnmgrbktcy, tfrluif klddlmgty prgkbs,bxplrts, plrtalcgl onm alrbgin mgrbkt gnvbstdbnt (AMG) aclws, onm wlre-

brs‗ rbdgttonkbs.8 ]fb kfoptbr gs lriongzbm os alcclws. ]fb agrst sbktgln mbskrghbs tfb

dogn iclhoc onm kluntry-spbkgagk mbvbclpdbnts arld 8::8 tl 8::9. ]fbalcclwgni sbktgln mbskrghbs tfb mgrbkt gdpokt la tfb iclhoc agnonkgoc krgsgsln dgmmcb-gnkldb kluntrgbs. ]fb tfgrm sbktgln bxodgnbs tfb gngtgoc agskocrbsplnsb up tl 8::7. ]fb alurtf sbktgln ossbssbs dbmgud-tbrd agskoc kfoc-cbnibs onm agskoc om`ustdbnt strotbigbs unmbr o nudhbr la skbnorgls. ]fbcost sbktgln prlvgmbs sldb klnkcumgni rbdores.

Iclhoc onm Kluntry-[pbkgagk Mbvbclpdbnts, 8::8‛:9

]fones tl aovlrohcb gntbrnotglnoc dorebt klnmgtglns murgni 8::8‛:9onm prumbnt mldbstgk dokrlbklnldgk donoibdbnt, dlst kluntrgbs gn

]ohcb 9.? Kluntrgbs Gnkcumbm gn tfb [odpcb, hy Gnkldb Cbvbc

Gnkldb cbvbc Kluntrgbs

Clwbr dgmmcb Kfgno, Oroh Xbp. la Biypt, Gnmgo, Gnmlnbsgo,Ngibrgo, tfb Zfgcgppgnbs, ]fogconm, Rerognb

Rppbr dgmmcb Oribntgno, Hrozgc, Kfgcb, Klcldhgo, Docoysgo,Dbxgkl, Zbru, Zlconm, Xussgon Abmbrotgln,[lutf Oargko, ]ureby

Fgif Funiory

[lurkb0 Outflrs, hosbm ln tfb Ylrcm Hone‗s @ucy 8::7 kcossgagkotgln.Nltb0 Klddlmgty bxplrtbrs orb mbagnbm fbrb os kluntrgbs gn wfgkf mbpbnmbnkb ln

o klddlmgty sbktlr dongabstbm gtsbca gn o sgingagkont gdprlvbdbnt gn tfb agskoc hoconkb

hbtwbbn ?772‛8::? onm 8::8‛:9. Hy tfgs mbagngtgln, Oribntgno, Hrozgc, Kfgcb,Gnmlnbsgo, Ngibrgo, onm tfb Xussgon Abmbrotgln orb klnsgmbrbm klddlmgty bxplrtbrshut Dbxgkl gs nlt. Funiory wos kcossgagbm os o dgmmcb-gnkldb kluntry untgc dgm-8::6.

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dgmmcb-gnkldb kluntrgbs onm tfb iclhoc agnonkgoc krgsgs ?92

tfb sodpcb wbrb sukkbssauc gn rbmukgni gnacotgln, gdprlvgni tfbgr agskoconm kurrbnt okklunt hoconkbs, onm hugcmgni up alrbgin bxkfonib rbsbrvbs.[ldb kluntrgbs swgtkfbm tl gnacotgln toribtgni5 ltfbrs gdpcbdbntbm wbcc-

mbsginbm agskoc rbsplnsghgcgty arodbwlres.; Dony kluntrgbs wbrb ohcb tl gssub hlnms gn hltf alrbgin onm mldbstgk

kurrbnky, tfones tl rbklrm clw sprboms ln tfbgr hlnm gssuonkbs lvbr kld-porohcb R.[. ]rbosurgbs, os gnvbstlrs wbrb cllegni alr prlagtohcb lpplrtu-ngtgbs. Alr sldb kluntrgbs, tfgs rbcotgvbcy cllsb agnonkgni bnvgrlndbnt cbmtl o corib hugcmup la puhcgk onm prgvotb bxtbrnoc mbht, cbomgni tl gntbrnoconm bxtbrnoc gdhoconkbs onm vucnbrohgcgtgbs mlwn tfb rlom.

]fgs pbrglm ocsl wgtnbssbm klddlmgty prgkb fgebs, wfgkf mgsprlplr-tglnotbcy hbnbagtbm klddlmgty-bxplrtgni kluntrgbs. Os allm onm aubc

prgkbs rbokfbm rbklrm fgifs hbtwbbn cotb 8::9 onm dgm-8::6, o sgi-ngagkont iop gn tfb bxtbrnoc onm agskoc plsgtglns la klddlmgty bxplrtbrsonm ltfbr kluntrgbs hbion tl oppbor. Klddlmgty-prlmukgni kluntrgbswbrb tfbrbalrb gn o hbttbr plsgtgln tl wbotfbr tfb krgsgs wfbn gt strukegn 8::6.

]fbsb aovlrohcb dorebt klnmgtglns onm plcgky gdprlvbdbnts klntrgh-utbm tl tfb prbkrgsgs gdprlvbdbnts gn mldbstgk gnmgkotlrs gn dlst la tfbsbkluntrgbs. ]fb ovbroib rotb la gnacotgln kodb mlwn gn dlst kluntrgbs,portgkucorcy gn Oribntgno, tfb Xussgon Abmbrotgln, ]ureby, onm Rerognb. Gnsbvbroc kluntrgbs, agnonkgoc sbktlr mbvbclpdbnt gnkrbosbm rbsgmbnts‗ okkbsstl krbmgt. ]fb gnkrbosb gn krbmgt os o sforb la IMZ wos bspbkgoccy corib gnFuniory onm Rerognb. Dony kluntrgbs, gnkcumgni Kfgcb, Ngibrgo, onm Xus-sgo, gnkrbosbm tfbgr ovbroib agskoc onm prgdory hoconkbs. ]ureby gdprlvbmgts agskoc hoconkb. ]fgs pbrglm ocsl sow o mbkcgnb gn tfbsb kluntrgbs‗ irlsspuhcgk gnmbhtbmnbss (os o sforb la IMZ), portcy hbkousb la ropgm IMZirlwtf (agiurb 9.?).= 

Gn dlst la tfbsb kluntrgbs, tfb kurrbnt okklunt mbagkgts la ?772‛8::?turnbm gntl surpcusbs gn 8::8‛:9. ]ltoc bxtbrnoc mbht rbcotgvb tl IMZmbkrbosbm gn dlst kluntrgbs hbtwbbn 8::8 onm 8::9 (agiurb 9.8). Gn

Oribntgno, Gnmlnbsgo, Ngibrgo, onm tfb Zfgcgppgnbs, bxtbrnoc mbht os opbrkbntoib la IMZ abcc tfb dlst rbcotgvb tl tfb 8::8 cbvbc. Gn klntrost, gnFuniory, Zlconm, onm Rerognb, bxtbrnoc mbht irbw rbcotgvb tl 8::8.2 

Gn kluntrgbs gn wfgkf bxtbrnoc mbht mbkrbosbm hbtwbbn 8::8 onm 8::9,tfb mbkcgnb dogncy rbacbktbm ropgm nldgnoc IMZ irlwtf5 bxkfonib rotbopprbkgotgln, wfgkf rbmukbs tfb mldbstgk kurrbnky vocub la bxtbrnoc mbht,pcoybm lncy o dgnlr rlcb.1 Gn kluntrgbs tfot sow corib gnkrbosbs gn bxtbrnocmbht, tfb kfonib prgdorgcy rbacbktbm gnkrbosbm hlrrlwgni, wfgkf occlwbmmbht stlkes tl irlw ot o aostbr rotb tfon nldgnoc IMZ.

Igvbn tfb aovlrohcb mbvbclpdbnts dony kluntrgbs bxpbrgbnkbm mur-gni tfb prbkrgsgs pbrglm (8::8‛:9), tfb dokrlbklnldgk spokb gdprlvbmalr dony kluntrgbs.9  Gn lrmbr tl kldporb kluntrgbs gn tfgs rbiorm, wbkldputbm on gnmbx la dokrlbklnldgk spokb alr bokf kluntry alr bokfybor (hlx 9.?).

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?91  von mllrn, surg, onm illptu

]fb gnmbx la dokrlbklnldgk spokb gnmgkotbs tfot tfb spokb la dlstkluntrgbs gn tfb sodpcb gnkrbosbm hbtwbbn 8::8 onm 8::9. Kfgno bn`lybmtfb coribst dokrlbklnldgk spokb gn tfb sodpcb, tfones tl strlni bxtbrnocsuhgnmgkotlrs onm aovlrohcb agskoc onm mldbstgk suhgnmgkotlrs. Ngibrgo‗sdokrlbklnldgk spokb coribcy rbacbktbm gts aovlrohcb bxtbrnoc suhgnmgko-tlrs, sukf os kurrbnt okklunt surpcusbs, fgif rbsbrvbs, onm clw mbht, wfgkflaasbt tfb ropgm irlwtf gn krbmgt tl tfb prgvotb sbktlr rbcotgvb tl IMZ,wfgkf klucm bvbntuoccy cbom tl fgifbr gnacotglnory prbssurb. Kfgcb‗s dokrl-bklnldgk spokb ocdlst bntgrbcy rbacbktbm gts prumbnt agskoc plcgky. Funiory

fom tfb cbost dokrlbklnldgk spokb, dogncy hbkousb la gts rbcotgvbcy wboebxtbrnoc onm agskoc suhgnmgkotlrs. Gn Rerognb fgif gnacotgln onm wboebxtbrnoc suhgnmgkotlrs wbrb dlrb gdplrtont, mbspgtb o agskoc suhgnmgko-tlr tfot wos oktuoccy dlrb plsgtgvb tfon o abw fgifbr-ronebm kluntrgbs.

Agiurb 9.? Klntrghutglns tl Kfonibs gn Zuhcgk Mbht tl IMZXotgl, 8::8‛:9

[lurkb0 Outflrs‗ kldpgcotgln, hosbm ln moto arld GDA 8:?:m.Nltb0 Zuhcgk mbht gnkcumbs mldbstgk onm bxtbrnoc puhcgk mbht. Agiurb

mbkldplsbs puhcgk mbht (os pbrkbnt la IMZ) gntl tfrbb kldplnbnts”puhcgkmbht gn clkoc kurrbnky, nldgnoc IMZ gn klnstont prgkbs, onm tfb IMZ

mbacotlr)”onm sflws tfb rbcotgvb klntrghutgln la bokf gn cliorgtfdgk tbrds.Zuhcgk mbht (pbrkbnt la IMZ) 4 Zuhcgk mbht (clkoc kurrbnky)/UIMZ (clkockurrbnky, klnstont) Ù IMZ mbacotlrT. Gn rbcotgvb kfonibs gn cliorgtfd0 CliU?+ pbrkbntoib kfonib gn puhcgk mbht (pbrkbnt la IMZ)T 4 Cli U?+ pbrkbntoibkfonib gn puhcgk mbht (clkoc kurrbnky)T”Cli U?+ pbrkbntoib kfonib gn IMZ(clkoc kurrbnky, klnstont)T ‛ Cli U?+ pbrkbntoib kfonib gn IMZ mbacotlrT.

?.::.2:.:

‛:.2

   c  l  i  o  r   g   t   f  d   l

   a

  r  b   c  o   t   g  v  b  k   f  o  n  i  b

‛?.:‛?.2‛8.:

   F  u  n  i 

  o  r  y

  K   f   g  n  o

   Z  l   c  o  n

  m

   D  o   c  o

  y  s   g  o

   G  n  m   g  o

   B  i   y  p   t ,   O  r  o   h    X  b

  p .   l  a

   D  b  x   g  k  l

   H  r  o  z   g   c

  [  l  u   t   f 

  O  a  r   g  k  o

   Z   f   g   c   g  p

  p   g  n  b  s

   ]   f  o   g   c  o  n

  m

  K  l   c  l  d

   h   g  o   Z  b  r  u

   G  n  m  l

  n  b  s   g  o

   ]  u  r   e  b  y

  O  r  i   b  n   t   g  n  o

   R   e  r  o   g  n  b

  K   f   g   c  b

   X  u  s  s   g  o

  n    A  b

  m  b  r  o   t   g  l

  n

   N   g  i   b

  r   g  o

klntrghutgln la irlwtf gn rboc IMZ

klntrghutgln la gnkrbosb gn IMZ mbacotlr

klntrghutgln la gnkrbosb gn puhcgk mbht nbt

tltoc rbcotgvb kfonib gn puhcgk mbht pbrkbntoib la IMZ

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dgmmcb-gnkldb kluntrgbs onm tfb iclhoc agnonkgoc krgsgs ?99 

Agiurb 9.8 Kfonibs gn ]ltoc Bxtbrnoc Mbht tl IMZXotgl, 8::8‛:9

[lurkb0 Outflrs‗ kldpgcotgln, hosbm ln moto arld GDA 8:?:m.Nltb0 Agiurbs orb sflwn os pbrkbntoibs. Mbht gnkcumbs puhcgk onm puhcgkcy

iuorontbbm mbht onm prgvotb nlniuorontbbm mbht. Zlgnts ohlvb tfb mosfbm cgnb

gnmgkotb tfot bxtbrnoc mbht wos fgifbr ot tfb bnm la 8::9 tfon ot tfb bnm la8::8. Gn Oribntgno mbht wos rbmukbm arld ?28 pbrkbnt la IMZ ot tfb bnm la8::8 tl 27 pbrkbnt ot tfb bnm la 8::9.

klddlmgty bxplrtbrs ltfbr bxplrtbrs

?::

6:

1:

  b  x   t  b  r  n  o   c   m  b   h   t   /   I   M   Z

  b  n   m  -   8   :   :   9

   (  p  b  r  k  b  n   t   )

bxtbrnoc mbht/IMZbnm-8::8

(pbrkbnt)

=:

8:Gnmgo

[lutf Oargko

Dbxgkl

Kfgno

Biypt

HrozgcKlcldhgo

Ngibrgo

]fogconmDocoysgoZbru

Zlconm

Funiory

Xussgo

Rerognb

]urebyKfgcb

Gnmlnbsgo

Zfgcgppgnbs

Oribntgno

:

: 8: =: 1: 6: ?::

 Funiory onm Rerognb orb alcclwbm hy ]ureby onm Oribntgno, hltf lawfgkf fom dogncy wboe bxtbrnoc suhgnmgkotlrs (agiurb 9.;).

Mgrbkt Gdpokt la tfb Iclhoc Agnonkgoc Krgsgs

Yfbn tfb agnonkgoc krgsgs hbkodb iclhoc, gn [bptbdhbr 8::6, tfb gddbmg-otb dorebt rboktgln fgt dgmmcb-gnkldb kluntrgbs tfrluif ductgpcb kfon-nbcs. Moto alr tfb quortbr tfot alcclwbm sflwbm tfot dorebts hbkldbdlrb mgskrgdgnotgni gn tfbgr rgse ossbssdbnts, os mbdlnstrotbm hy sprboms,bxkfonib rotbs, onm alrbgin bxkfonib rbsbrvbs. IMZ irlwtf ocsl suaabrbmgn dlst la tfbsb kluntrgbs, onm tfbgr bxtbrnoc mbht hurmbns gnkrbosbm

hbkousb la unaovlrohcb bxkfonib rotb dlvbdbnts.

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?96  von mllrn, surg, onm illptu

Hlx 9.? ]fb Gnmbx la Dokrlbklnldgk [pokb

Lur gnmbx la dokrlbklnldgk spokb suddorgzbs tfb vorgohcbs tfot fovbtfb irbotbst gnacubnkb ln o kluntry‗s ohgcgty tl gdpcbdbnt o kluntbrkykcg-koc agskoc plcgky lr o agskoc stgducus prlirod. Gn lrmbr alr o kluntry tlhb ohcb tl gdpcbdbnt o kluntbrkykcgkoc agskoc plcgky lr o agskoc stgdu-cus, gt gs nbgtfbr nbkbssory nlr suaagkgbnt tl fovb clw agskoc mbagkgts onmclw puhcgk mbht. Bxtbrnoc onm mldbstgk klnmgtglns kon supplrt lr kln-strogn agskoc plcgky. Alr bxodpcb, ga o kluntry fos fgif gnacotgln, o kurrbntokklunt mbagkgt, clw rbsbrvbs, fgif bxtbrnoc mbht, lr ropgm irlwtf gn krbmgttl tfb prgvotb sbktlr, o agskoc bxponsgln dgift mbstohgcgzb tfb bklnldy. Gnklntrost, bvbn ga o kluntry fos hbbn runngni agskoc mbagkgts onm fos o fgifcbvbc la puhcgk mbht, gt dgift stgcc hb ohcb tl run o agskoc bxponsgln os clnios dorebts orb klnagmbnt tfot tfb kluntry‗s mbht cbvbc wgcc rbdogn ln o sus-tognohcb potf onm tfot dokrlbklnldgk stohgcgty wgcc nlt hb `blpormgzbm.]fb nlnagskoc kldplnbnts la tfb gnmbx rbprbsbnt sldb la tfb vorgohcbsdorebts rbiucorcy dlngtlr.

Gn kluntrgbs wgtf clw puhcgk onm bxtbrnoc mbht, corib alrbginbxkfonib rbsbrvbs, clw gnacotgln, dlmbrotb krbmgt irlwtf, onm o plsgtgvblr lncy dlmbrotbcy nbiotgvb kurrbnt okklunt onm agskoc hoconkbs, tfgs ags-koc bxponsgln wgcc prlhohcy fovb plsgtgvb dokrlbklnldgk hbnbagts (sup-

plrtgni irlwtf wfgcb dogntogngni gntbrnoc onm bxtbrnoc hoconkbs). [ukfkluntrgbs orb sogm tl fovb dokrlbklnldgk spokb.Gn o kluntry wgtf ropgm krbmgt irlwtf tl tfb prgvotb sbktlr, tfb gnkrbosb

gn mldbstgk mbdonm doy okkbcbrotb gnacotgln5 ropgm krbmgt irlwtf doyocsl hb o cbomgni gnmgkotlr alr auturb koccs ln agskoc rbslurkbs hbkousb latfb hugcmgni up la klntgnibnt cgohgcgtgbs gn tfb agnonkgoc sbktlr. ]fb gnkrbosbgn bxtbrnoc mbdonm wgcc cbom tl mbtbrglrotgln gn tfb hoconkb la poydbntsonm doy put tfb bxkfonib rotb unmbr prbssurb. Rnmbr o agxbm bxkfonibrotb, tfb kluntry wlucm clsb alrbgin bxkfonib rbsbrvbs. Kluntrgbs aokgnitfbsb klnmgtglns orb sogm tl fovb cgdgtbm dokrlbklnldgk spokb.

Gn dlst kluntrgbs tfbrb wgcc hb o dgx la tfbsb plsgtgvb onm nbiotgvbgnmgkotlrs. O kluntry klucm fovb o agskoc surpcus hut stgcc hb klnstrognbmhy fgif gnacotgln, clw alrbgin bxkfonib rbsbrvbs, lr o kurrbnt okkluntmbagkgt. O prumbnt kluntry wgtf clw gnacotgln onm kurrbnt okklunt sur-pcusbs dgift hb ohcb tl (tbdplrorgcy) sustogn fgifbr agskoc mbagkgts onmbn`ly klnagmbnkb arld tfb dorebts.

]fb gnmbx la dokrlbklnldgk spokb klnsgsts la tfb unwbgiftbm sud latfb sbvbn stonmormgzbm vorgohcbs mgspcoybm gn tfb hlx tohcb. ]fbsb vorg-ohcbs fovb hbbn nlrdocgzbm wgtf tfb sodpcb dbon onm stonmorm mbvgotglnalr bokf ybor, sl tfot tfb mgstrghutgln la bokf vorgohcb okrlss tfb sodpcb gn

8::9 onm 8::7 gs kbntbrbm ln zbrl wgtf o ungt stonmorm mbvgotgln. (]fgs

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?6:  von mllrn, surg, onm illptu

[prboms ln slvbrbgin hlnms lvbr kldporohcb R.[. ]rbosurgbs sflt upgddbmgotbcy okrlss tfgs sodpcb la dgmmcb-gnkldb kluntrgbs gn [bptbdhbr8::6, bspbkgoccy gn Oribntgno, Funiory, Xussgo, onm Rerognb (agiurb 9.=).6 Ot tfb sodb tgdb, wgtf plrtalcgl kopgtoc aclws rbvbrsgni, tfb hoconkb lapoydbnts kodb unmbr prbssurb gn dony kluntrgbs. [ldb kluntrgbs, sukfos Hrozgc, Kfgcb, Klcldhgo, tfb Zfgcgppgnbs, onm [lutf Oargko, gddbmgotbcy

cbt tfbgr bxkfonib rotbs om`ust wfgcb prbsbrvgni alrbgin bxkfonib rbsbrvbs.Ltfbr kluntrgbs trgbm gn vogn tl rbsgst mbprbkgotgln prbssurb wfgcb clsgnialrbgin bxkfonib rbsbrvbs.

Os tfb gngtgoc wovb la pongk suhsgmbm, dorebts hbkodb dlrb mgskbrngnionm stortbm tl clle ot kluntrgbs‗ aunmodbntocs. [prboms stortbm tl mbkrbosbalr dlst kluntrgbs (tfby klntgnubm tl wgmbn gn Oribntgno, Funiory, onmRerognb), octfluif hy Dorkf 8::7 tfby fom nlt ybt rbturnbm tl tfbgrprbkrgsgs cbvbcs. Dbonwfgcb, bxkfonib rotbs fom hbkldb dlrb stohcb, onmsldb kluntrgbs‗ alrbgin bxkfonib rbsbrvbs fom gnkrbosbm oiogn. O kldpor-

gsln la prbkrgsgs ovbroib pboe-tl-trluif IMZ irlwtf (rboc ybor-ln-yborirlwtf hbtwbbn tfgrm quortbr 8::6 onm tfgrm quortbr 8::7) rbvbocs tfotocc kluntrgbs gn tfb sodpcb wbrb fgt hy o sclwmlwn (agiurb 9.2). ]fgs wosbspbkgoccy sl alr klddlmgty bxplrtbrs sukf os Kfgcb onm Xussgo os wbcc os

Agiurb 9.; Gnmbx la Dokrlbklnldgk [pokb alr [bcbktbmKluntrgbs, Bnm-8::9

[lurkb0 Outflrs‗ kockucotglns, hosbm ln moto arld GDA 8:?:k, 8:?:m.Nltb0 Occ vocubs wbrb nlrdocgzbm hy 8::9 sodpcb ovbroibs onm stonmorm

mbvgotglns.

   F  u  n  i   o  r  y

  K   f   g  n  o

   Z  l   c  o  n

  m

   D  o   c  o

  y  s   g  o

   G  n  m   g  o

   B  i   y  p   t ,

   O  r  o   h    X  b

  p .   l  a

   D  b  x   g  k  l

   H  r  o  z   g   c

  [  l  u   t   f   O  a  r   g  k  o

   Z   f   g   c   g  p

  p   g  n  b  s

   ]   f  o   g   c  o  n

  m

  K  l   c  l  d

   h   g  o   Z  b  r  u

   G  n  m  l

  n  b  s   g  o

   ]  u  r   e  b  y

  O  r  i   b  n   t   g  n  o

   R   e  r  o   g  n  b

  K   f   g   c  b

   X  u  s  s   g  o

  n    A  b

  m  b  r  o   t   g  l

  n

   N   g  i   b  r   g  o

mldbstgk suhgnmgkotlr   bxtbrnoc suhgnmgkotlr

agskoc suhgnmgkotlr   dokrlbklnldgk spokb gnmbx

61=8:

   g  n   m  b  x

‛8‛=‛1‛6

‛?:

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?68  von mllrn, surg, onm illptu

Agiurb 9.2 Xboc IMZ Irlwtf, 8::9‛:7

[lurkb0 ]fldsln Motostrbod Omvonkb motohosb.

   F  u  n  i 

  o  r  y

  K   f   g  n  o

   Z  l   c  o  n

  m

   D  o   c  o

  y  s   g  o

   G  n  m   g  o

   B  i   y  p   t ,   O  r  o   h

    X  b  p

 .   l  a

   D  b  x   g  k  l

   H  r  o  z   g   c

  [  l  u   t   f 

  O  a  r   g  k  o

   Z   f   g   c   g  p

  p   g  n  b  s

   ]   f  o   g   c  o  n  m

  K  l   c  l  d

   h   g  o   Z  b

  r  u

   G  n  m  l  n  b

  s   g  o

   ]  u  r   e  b  y

  O  r  i   b

  n   t   g  n  o

   R   e  r  o   g  n  b

  K   f   g   c  b

   X  u  s  s   g  o  n

    A  b  m  b  r  o   t   g  l  n

?2

  y  b  o  r  -  l  n  -  y  b  o  r  k   f  o  n  i  b

   (  p  b  r  k  b  n   t   )

?:

2

:

‛2

‛?:

‛?2

‛8:

‛82

ovbroib IMZ irlwtf gn 8::9

dgngdud ybor-ln-ybor IMZ irlwtf hbtwbbn

tfgrm quortbr 8::6 onm tfgrm quortbr 8::7

Kluntrgbs wgtf rbcotgvbcy corib dokrlbklnldgk spokb ot tfb bnm la 8::9typgkoccy gnkrbosbm tfbgr nlngntbrbst bxpbnmgturb gn 8::6‛:7 tfb dlst, hltfos o sforb la IMZ onm gn rboc tbrds.?? Kfgcb onm Xussgo, wfgkf fom fboctfyagskoc suhgnmgkotlrs, sflwbm tfb coribst gnkrbosb gn nlngntbrbst bxpbnmgturb

os o sforb la IMZ. Kfgno sflwbm strlni bxtbrnoc suhgnmgkotlrs hut o coribgnkrbosb gn rboc nlngntbrbst bxpbnmgturb.?8 Octfluif tfb gnkrbosbs gn agskocbxpbnmgturb fbcpbm kluntbrokt tfb mrlp gn ltfbr kldplnbnts la oiirbiotbmbdonm, gn dlst kosbs tfby wbrb unohcb tl prbvbnt o mlwnturn. ]fb nbwhlrrlwgni gn rbsplnsb tl tfb krgsgs, kldhgnbm wgtf tfb sclwmlwn gn irlwtfonm tfb mbprbkgotgln la tfb bxkfonib rotb, rbvbrsbm sldb la tfb borcgbr iognsarld o rbmuktgln la bxtbrnoc onm puhcgk mbht (os o sforb la IMZ) tfot tfbsbkluntrgbs bxpbrgbnkbm gn prbvglus ybors. Os o pbrkbntoib la IMZ, bxtbrnocmbht gnkrbosbm gn ?? kluntrgbs gn tfb sodpcb hbtwbbn 8::9 onm 8::75 hbtwbbn

8::8 onm 8::9, gt gnkrbosbm lncy gn Funiory, Zlconm, onm Rerognb.]fb agskoc plcgky rbsplnsb gn 8::6 onm 8::7, onm tfb bxtbrnoc supplrtpokeoibs put tlibtfbr alr tfbsb kluntrgbs, cbm tl fgifbr puhcgk (agiurb 9.9)onm bxtbrnoc mbht gn sbvbroc kluntrgbs. [ldb kluntrgbs, sukf os Funiory,wfgkf fom hugct up bxtbrnoc mbht rbcotgvb tl mldbstgk mbht, aokb gnkrbosbm

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?6=  von mllrn, surg, onm illptu

bxkfonib rotb rgse. Ltfbrs, sukf os Hrozgc, tfb Oroh Xbpuhcgk la Biypt,onm Gnmgo, wfgkf fom hugct up mldbstgk mbht rbcotgvb tl bxtbrnoc mbht,rbmukbm tfbgr bxkfonib rotb rgses. ]fgs bvgmbnkb suiibsts tfot kluntrgbs

wlucm ml wbcc tl dlngtlr tfb agnonkgoc strukturb onm kldplsgtgln la tfbgrmbht plrtalcgls.

Kluntrgbs tfot fom dokrlbklnldgk spokb ot tfb lnsbt la tfb krgsgs gncotb 8::6 wbrb ohcb tl ropgmcy rbsplnm hy gnkrbosgni tfbgr agskoc spbnmgni.]fb dokrlbklnldgk spokb ot bnm-8::9 onm tfb kfonib gn tfb prgdoryhoconkb lhsbrvbm hbtwbbn 8::9 onm 8::7 oppbor tl hb nbiotgvbcyklrrbcotbm. Flwbvbr, ot bnm-8::7 dlst kluntrgbs bnmbm up wgtf cbss dok-rlbklnldgk spokb oatbr tfb gngtgoc gdpokt la tfb iclhoc agnonkgoc krgsgs. ]fbronegni la kluntrgbs oclni tfb dokrlbklnldgk spokb gnmbx ocsl kfonibm,

rbacbktgni tfb rbcotgvb spokb tfot fom hbbn –usbm up— os o rbsuct la tfbkrgsgs (agiurb 9.6). Kluntrgbs sukf os Oribntgno onm Funiory gdprlvbmtfbgr rbcotgvb ronegni hut stgcc fom vbry norrlw dokrlbklnldgk spokb.

Hy tfb bnm la 8::7, Ngibrgo, ]fogconm, Kfgcb, onm Kfgno fom tfb irbot-bst rlld tl rbsplnm tl o dlrb prlclnibm krgsgs. Gn Ngibrgo tfb corib agskocspokb rbacbktbm tfb kluntry‗s strlni bxtbrnoc suhgnmgkotlr5 gn tfb ltfbrkluntrgbs gt rbacbktbm o dlrb hoconkbm dgx la gnmgkotlrs.?; Funiory onmRerognb fom tfb cbost odlunt la agskoc spokb gn tfb sodpcb, rbacbktgni hltfwboe stortgni plgnts onm tfb strlni nbiotgvb gdpokts la tfb krgsgs.

Dbmgud-]brd Agskoc Kfoccbnibs onm Agskoc Om`ustdbnt[trotbigbs unmbr Qorglus [kbnorgls

Igvbn tfbsb bcbvotbm cbvbcs la mbht oatbr tfb gngtgoc krgsgs rbsplnsb, tfbottbntgln la plcgky doebrs onm kopgtoc dorebt portgkgponts sflucm sfgattl tfb dbmgud tbrd. ]fb Ylrcm Hone‗s Iclhoc Bklnldgk Zrlspbkts 8:?: klnkcumbs tfot tfb 8::6 iclhoc krgsgs wgcc fovb o costgni gdpokt ln agnon-kgoc dorebts, rogsgni hlrrlwgni klsts onm clwbrgni cbvbcs la krbmgt onm

gntbrnotglnoc kopgtoc aclws. Gt prl`bkts tfot os kluntrgbs om`ust tl tgiftbriclhoc agnonkgoc klnmgtglns, irlwtf la lutput gn mbvbclpgni kluntrgbs doyhb rbmukbm hy :.8‛:.9 pbrkbntoib plgnt o ybor untgc 8:?2‛?9. Igvbn tfbmbptf la tfb rbkbssgln onm tfb wboenbss la tfb bxpbktbm rbklvbry, sgingag-kont sporb kopokgty, fgif unbdpclydbnt, onm wboe gnacotglnory prbssurbsdoy bdbrib gn hltf fgif-gnkldb onm mbvbclpgni kluntrgbs alr sldb tgdb(Ylrcm Hone 8:?:).

Yfot wgcc foppbn tl puhcgk mbht ga tfbrb gs nl om`ustdbnt tl tfb prg-dory hoconkb gn tfb dbmgud tbrd< Yfot egnm la agskoc om`ustdbnt wgcc

kluntrgbs nbbm tl doeb tl rbmukb lr stohgcgzb tfbgr puhcgk mbht stlkes< Gatfb om`ustdbnt gs tll corib tl hb plcgtgkoccy krbmghcb, wfot wgcc hb tfb baabktla o dlrb iromuoc om`ustdbnt< ]fgs sbktgln ommrbssbs sldb la tfbsb qubs-tglns hy rbplrtgni ln tfb rbsucts la gccustrotgvb skbnorgls0?= 

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dgmmcb-gnkldb kluntrgbs onm tfb iclhoc agnonkgoc krgsgs ?62

• ]fb hosbcgnb skbnorgl agxbs tfb prgdory hoconkb ot gts fgstlrgkoc vocubonm toebs tfb irlwtf rotb prl`bktglns arld tfb GDA‗s Ylrcm BklnldgkLutclle motohosb (Oprgc 8:?:). ]fgs motohosb ossudbs tfot oatbr tfbkrgsgs irlwtf rotbs orb pbrdonbntcy clwbr tfon hbalrb tfb krgsgs.

• [kbnorgl ? kockucotbs tfb rbqugrbm prgdory hoconkb ga kluntrgbstry tl rbokf o mbht toribt. ]fbsb mbht toribts orb tl rbmukb mbhttl =: pbrkbnt la IMZ hy 8:8: ga tfb mbht stlke gs ohlvb =: pbr-

kbnt la IMZ ot bnm-8::7 lr tl pbrdonbntcy stohgcgzb tfb mbhttl IMZ rotgl ga tfb mbht gs hbclw =: pbrkbnt la IMZ ot bnm-8::7.?2 Kldporgni tfb rbqugrbm prgdory hoconkbs ilgni alrwormwgtf tfb kluntry‗s fgstlrgkoc vocubs sflws tfb bxtbnt tl wfgkf o

Agiurb 9.6 Dokrlbklnldgk [pokb Gnmbx, Bnm-8::9 onmBnm-8::7

[lurkbs0 Outflrs‗ kockucotglns, hosbm ln moto arld GDA 8::7o, 8:?:h,8:?:k, 8:?:m5 Krbmgt [ugssb 8:?:.

Nltb0 Qorgohcbs wbrb nlrdocgzbm hy tfb sodpcb ovbroib onm stonmormmbvgotgln gn bokf ybor. Kluntrgbs ohlvb tfb mosfbm cgnb dlvbm up gn tfbronegni la dokrlbklnldgk spokb hbtwbbn 8::9 onm 8::7.

klddlmgty bxplrtbrs ltfbr bxplrtbrs

=

8

:

   g  n   m

  b  x

  b  n   m  -   8

   :   :   7

gnmbxbnm-8::9

‛8

‛=

‛1

‛?: ‛2 : 2

]fogconm Ngibrgo

KfgnoKfgcb

ZfgcgppgnbsKlcldhgo

Gnmlnbsgo Zbru

Docoysgo

Xussgon Abmbrotgln

Dbxgkl

[lutf OargkoOribntgno

Biypt, Oroh Xbp. la

]ureby Zlconm

Hrozgc

Gnmgo

Rerognb

Funiory

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?61  von mllrn, surg, onm illptu

kluntry nbbms tl om`ust gts prgdory hoconkb tl rbokf gts mbsgrbmmbht toribt.

• [kbnorgl 8 gs sgdgcor tl skbnorgl ?, hut gt ossudbs tfot tfb krgsgs

wgcc cost clnibr onm tfot kluntrgbs wgcc nbbm tl klntgnub tl gdpcb-dbnt bxponsglnory plcgkgbs os tfby mgm gn 8::9‛:7, alrkgni tfbd tlokkuducotb ommgtglnoc mbht. Gt tfbn bstgdotbs tfb rbqugrbm prgdoryhoconkb ga o kluntry stgcc ogds tl okfgbvb tfb sodb mbht toribt os un-mbr skbnorgl ?, tfgs tgdb hy 8:8:.

• [kbnorgl ; bxodgnbs o dlrb iromuoc opprlokf tl om`ustgni tfb prg-dory hoconkbs gn bokf kluntry gn lrmbr tl rbokf tfb mbht toribt (osspbkgagbm gn skbnorgl ?). [ukf on opprlokf doy hb nbkbssory alr sldbkluntrgbs ga tfb rbqugrbm agskoc om`ustdbnt unmbr tfb agrst twl skbnorgls

gs vbry corib, plcgtgkoccy gnabosghcb, lr hltf, lr ga sukf on om`ustdbntdgift aubc aurtfbr gnstohgcgty onm pbrfops o nbw mlwnturn hbkousb lagnsuaagkgbnt oiirbiotb mbdonm wgtflut o stgducus prlirod.

]fb Hosbcgnb [kbnorgl

Rnmbr tfb hosbcgnb skbnorgl, gn wfgkf tfb prgdory hoconkb gs sbt ot tfb fgs-tlrgkoc ovbroib, puhcgk mbht gn 8:8: gs bxpbktbm tl gnkrbosb alr o nudhbr lakluntrgbs, gn portgkucor tfb kluntrgbs wgtf tfb fgifbst puhcgk mbht ot bnm-8::7(Biypt, Funiory, onm Gnmgo). Alr Kfgcb onm Ngibrgo, puhcgk mbht mbkcgnbsonm hbkldbs nbiotgvb murgni tfb prl`bktgln pbrglm. ]fgs gnmgkotbs tfot hltfkluntrgbs wgcc okkuducotb agskoc ossbts (nltb tfot tfb sgducotgln alr tfbsb twlkluntrgbs usbm tfb ovbroib prgdory hoconkb la ?771‛8::?5 fom tfb dlrbaovlrohcb ovbroib prgdory hoconkb la 8::8‛:9 hbbn usbm, puhcgk mbht wlucmfovb hbkldb bvbn dlrb nbiotgvb gn 8:8:).

Klcldhgo, Zbru, onm ]ureby, wfgkf orb nlt odlni tfb do`lr kld-dlmgty bxplrtbrs, fom dukf fgifbr ovbroib prgdory surpcusbs murgni8::8‛:9 tfon tfby mgm hbtwbbn ?771 onm 8::?. Octfluif tfgs gnkrbosb

doy sginoc agskoc plcgky gdprlvbdbnts, o eby qubstgln wgcc hb wfbtfbrtfbsb kluntrgbs wgcc hb ohcb tl dogntogn sukf agskoc surpcusbs gn o plstkrg-sgs wlrcm ga klddlmgty prgkbs onm iclhoc irlwtf mbkcgnb. Alr tfb hosb-cgnb skbnorgl alr tflsb kluntrgbs, tfb fgstlrgkoc prgdory agskoc hoconkb gstfbrbalrb ossudbm tl hb rbprbsbntbm hy tfbgr ?771‛8::? ovbroib prgdoryagskoc hoconkb.

[kbnorgl ?0 8:8: Mbht ]oribt

Rnmbr skbnorgl ?, kluntrgbs sbt o spbkgagk puhcgk mbht toribt alr 8:8:.]fby doy wont tl ml sl tl okklunt alr tfb baabkt la tfb plcgtgkoc kykcb lnmbht, tl klddgt auturb ilvbrndbnts tl dogntogn mbht sustognohgcgty, lr tlhbnbagt arld tfb –onnlunkbdbnt baabkt— wgtf o vgbw tl ossurgni kopgtoc

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dgmmcb-gnkldb kluntrgbs onm tfb iclhoc agnonkgoc krgsgs ?69 

dorebts tfot tfbgr mbht gs sustognohcb onm tfot tfb krgsgs rbsplnsb prlirodsorb gnmbbm tbdplrory. Rnmbr tfgs skbnorgl kluntrgbs orb ossudbm tl omlptlnb la twl mbht toribts0 tl rbmukb mbht tl =: pbrkbnt la IMZ hy 8:8:

ga tfb bnm-8::7 mbht bxkbbms =: pbrkbnt la IMZ lr tl stohgcgzb mbht ottfb bnm-8::7 cbvbc ga bnm-8::7 mbht gs hbclw =: pbrkbnt la IMZ. Rnmbrtfgs skbnorgl Kfgcb, Kfgno, Klcldhgo, Gnmlnbsgo, Docoysgo, Ngibrgo, Zbru,Xussgo, [lutf Oargko, onm Rerognb wgcc omlpt tfb stohgcgzotgln toribt. ]fbrbdogngni kluntrgbs wgcc omlpt tfb mbht rbmuktgln toribt.

Rnmbr tfb hosbcgnb irlwtf prl`bktgln, tfb prgdory agskoc hoconkbrbqugrbm tl okfgbvb tfb toribt gs clwbr tfon tfb fgstlrgkoc prgdory hoc-onkb alr Kfgcb, Gnmlnbsgo, Dbxgkl, Ngibrgo, Zbru, tfb Zfgcgppgnbs, [lutfOargko, onm ]ureby. Nl unusuoc agskoc om`ustdbnt wlucm tfus hb nbbmbm

gn tflsb kluntrgbs. Kfgno wlucm fovb tl okfgbvb o fgifbr prgdory hoc-onkb tfon gts fgstlrgkoc hoconkb, hut igvbn gts clw cbvbc la puhcgk mbht otbnm-8::7, gts mbht wlucm stgcc hb hbclw =: pbrkbnt la IMZ ga gt klntgn-ubm tl okfgbvb gts fgstlrgkoc prgdory hoconkb. Corib om`ustdbnts la tfbprgdory hoconkb wlucm hb nbbmbm gn Oribntgno, Biypt, Funiory, Gnmgo,onm Zlconm.

Octfluif o pbrdonbntcy clwbr IMZ irlwtf rotb onm fgifbr wlrcmgntbrbst rotbs wlucm gnkrbosb tfb rbqugrbm om`ustdbnt, tfbgr baabkt ln tfbrbqugrbm om`ustdbnt gs sdoccbr tfon tfb mbht toribt gtsbca.?1 Flwbvbr, tfbsbsflkes wlucm dbon tfot kluntrgbs cgeb Dbxgkl, Zbru, tfb Zfgcgppgnbs, onm]ureby wlucm fovb tl om`ust tfbgr prgdory agskoc hoconkbs tl okfgbvb tfbmbht toribt (agiurb 9.7).

Flw wlucm tfgs agskoc om`ustdbnt toeb pcokb< Kluntrgbs klucm kut puh-cgk spbnmgni, gnkrbosb ilvbrndbnt rbvbnub, lr hltf. Dukf wgcc mbpbnm lntfb pokb la rbklvbry la agskoc rbvbnubs gn bokf kluntry, wfgkf gn turn wgccmbpbnm ln IMZ irlwtf, gntbrnotglnoc gntbrbst rotbs onm bxkfonib rotbs,prbssurb tfot lnilgni fgifbr slkgoc soabty nbt bxpbnmgturbs orb ocrbomyputtgni ln ilvbrndbnt humibts, onm tfb plcgtgkoc abosghgcgty la kuttgni ebyrbkurrbnt spbnmgni gtbds gn tfb humibt. ]fb bxtbnt tl wfgkf prgvotb sbktlr

klnsudptgln onm gnvbstdbnt mbdonm rbsplnm tl tfb agskoc onm dlnbtorystgducus baalrts onm tfb gnvbntlry kykcb ocsl gntrlmukb unkbrtogntgbs. Ga tfbrbsplnsb gs wboebr tfon bnvgsoibm lr baalrts orb prbdoturbcy foctbm, tfbrbklvbry klucm stocc (Ylrcm Hone 8:?:).

[kbnorgl 80 Zrlclnibm Agskoc Bxponsgln tl 8:?8

Rnmbr skbnorgl 8, tfb agskoc stgducus spbnmgni la 8::6 onm 8::7 gs klntgn-ubm alr on ommgtglnoc twl ybors, onm kluntrgbs orb ossudbm tl rbsplnm tl

gt bnmlibnluscy gn tfb sodb woy os tfby rbsplnmbm gddbmgotbcy oatbr tfbkrgsgs. Oatbr 8:??, wfbn tfgs ommgtglnoc agskoc spbnmgni stlps, kluntrgbs orbossudbm tl klntgnub tl ogd tlworm tfb mbht toribts gn 8:8: unmbr skbnorgl?, wgtf tfb sodb hosbcgnb IMZ irlwtf onm gntbrbst rotb ossudptglns. Rnmbr

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?66  von mllrn, surg, onm illptu

skbnorgl 8, ga o kluntry‗s puhcgk mbht os o sforb la IMZ gnkrbosbm gn 8::6onm 8::7, gt wgcc klntgnub tl gnkrbosb hy tfb sodb sforb la IMZ gn 8:?:onm 8:??. Ga puhcgk mbht os o sforb la IMZ mbkrbosbm gn 8::6 onm 8::7, gtwgcc hb ebpt klnstont os o sforb la IMZ gn 8:?: onm 8:?? (tfgs gs tfb kosbalr Oribntgno, Biypt, Gnmlnbsgo, Zbru, onm Xussgo).

Igvbn tfb ommgtglnoc mbht okkuducotgln gn sldb kluntrgbs onm tfb cokela mbkcgnb gn mbht cbvbcs gn ltfbrs, gt wgcc hbkldb dlrb mgaagkuct alr dlstkluntrgbs tl okfgbvb tfbgr 8:8: toribts unmbr tfgs skbnorgl. ]fb mbht toribtalr Docoysgo onm Rerognb, wfbrb puhcgk mbht wos cbss tfon =: pbrkbnt

la IMZ ot bnm-8::7, wlucm swgtkf arld puhcgk mbht stohgcgzotgln unmbrskbnorgl ? tl mbht rbmuktgln unmbr skbnorgl 8. Dbxgkl, tfb Zfgcgppgnbs,onm ]ureby wlucm nbbm tl om`ust tfbgr prgdory hoconkbs aurtfbr rbcotgvbtl tfbgr fgstlrgkoc baalrts (unmbr skbnorgl ? nl om`ustdbnt wos nbbmbm)(agiurb 9.?:).

Agiurb 9.7 Irlss Zuhcgk Mbht tl IMZ Xotgl, Bnm-8::7 onmBnm-8:8:

[lurkb0 Outflrs‗ kockucotglns, hosbm ln GDA 8:?:m.Nltb0 Agiurbs orb sflwn os pbrkbntoibs. Nbiotgvb nudhbrs kon hb

gntbrprbtbm os agskoc ossbts. Alr plgnts ohlvb tfb mosfbm cgnb, puhcgk mbht otbnm-8:8: gs fgifbr tfon ot bnm-8::7.

‛=:: 8: =:

puhcgk mbht/IMZ

bnm-8::7(pbrkbnt)

  p  u   h   c   g  k

   m  b   h   t   /   I   M   Z

  b  n

   m  -   8   :   8   :

   (  p  b  r  k  b  n   t   )

1: 6:

‛8:

:

8:

=:

1:

6:

?::

?8:

?=:

FunioryBiypt, Oroh

Xbp. laGnmgo

ZlconmOribntgno

Hrozgc

Docoysgo

 ] f o g c o n m

Dbxgkl

Zfgcgppgnbs

]urebyGnmlnbsgo

[lutf Oargko

Ngibrgo

Kfgcb

Xussgon

Abmbrotgln

Zbru

Kfgno

Rerognb

Klcldhgo

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dgmmcb-gnkldb kluntrgbs onm tfb iclhoc agnonkgoc krgsgs ?67

[kbnorgl ;0 Iromuoc Agskoc Om`ustdbnt 

Gn sldb kluntrgbs, plcgky doebrs doy mbbd tfb mgaabrbnkb hbtwbbn tfb fgs-

tlrgkoc prgdory hoconkb onm tfb prgdory hoconkb rbqugrbm tl rbokf tfb mbhttoribt tll corib tl hb plcgtgkoccy okkbptohcb (lr krbmghcb). Abors tfot aurtfbragskoc klntroktgln gn on ocrbomy aroigcb dokrlbklnldgk onm irlwtf bnvg-rlndbnt doy aubc o nbw bklnldgk mlwnturn klucm ocsl plstplnb tfbsbbaalrts. Rnmbr skbnorgl ;, kluntrgbs orb ossudbm tl toeb o dlrb iromuocopprlokf tl om`ustgni tfbgr prgdory hoconkbs gn lrmbr tl rbokf tfb sodbtoribt gn 8:8: os unmbr skbnorgl ? (agiurb 9.??). [pbkgagkoccy, tfb onnuocagskoc om`ustdbnt gs cgdgtbm tl 8 pbrkbntoib plgnts la IMZ.

Alr dlst la tfb kluntrgbs gn tfb sodpcb, tfb rbqugrbm om`ustdbnt gn tfb

prgdory hoconkb unmbr skbnorgl ? gs cbss tfon 8 pbrkbnt la IMZ. ]fbsbkluntrgbs kon om`ust tfbgr prgdory hoconkb bntgrbcy gn 8:?:, puttgni mbhtln o mlwnworm tro`bktlry lr stohgcgzgni gt gddbmgotbcy. Yfbrb tfb rbqugrbmom`ustdbnt gs coribr tfon 8 pbrkbnt la IMZ, gt wlucm hb domb dlrb iromuoccy(agvb ybors gn Funiory, alur ybors gn Gnmgo onm Biypt, onm twl ybors gnOribntgno onm Zlconm). Gn Biypt, Funiory, onm Zlconm (wfbrb tfb fgs-tlrgkoc prgdory mbagkgt gs vbry corib), mbht wlucm agrst gnkrbosb murgni tfbom`ustdbnt, pboegni gn 8:?: lr 8:?? hbalrb mbkcgngni. Alr o nudhbr laybors tfbsb kluntrgbs wgcc fovb tl hlrrlw fbovgcy tl agnonkb tfbgr mbagkgts.Mbht onm agskoc sustognohgcgty wgcc tfbrbalrb nbbm tl hb korbauccy dlngtlrbm.Flw dukf onm ot wfot tbrds tfbsb dorebt-okkbss kluntrgbs wgcc hb ohcb

Agiurb 9.?: Zrgdory Hoconkb Om`ustdbnt Xbqugrbm Xbcotgvbtl Fgstlrgkoc Zrgdory Hoconkb unmbr [kbnorgls ? onm 8

[lurkb0 Outflrs‗ kockucotglns, hosbm ln moto arld GDA 8:?:m.

?8

?:61

  p  b  r  k  b  n   t  o  i  b  l   a   I

   M   Z

=8:

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  K   f   g  n  o

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  O  r  o   h

    X  b  p

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   Z   f   g   c   g  p

  p   g  n  b  s

   ]   f  o   g   c  o  n  m

  K  l   c  l  d

   h   g  o   Z  b  r  u

   G  n  m  l

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   ]  u  r   e  b

  y

  O  r  i   b

  n   t   g  n  o

   R   e  r  o   g  n  b

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    A  b  m  b  r  o   t   g  l  n

skbnorgl ?0 hosbcgnb irlwtf onm gntbrbst rotb

skbnorgl 80 prlclnibm agskoc bxponsgln

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?7:  von mllrn, surg, onm illptu

tl lhtogn agnonkgni wgcc mbpbnm ln tfb klnmgtglns la tfb agnonkgoc dorebtsalr dgmmcb-gnkldb kluntrgbs, tfb krbmghgcgty la tfbgr om`ustdbnt strotbiy,onm tfb baabktgvb klddungkotgln la tfb strotbiy tl dorebt portgkgponts gno tgdbcy onm krbmghcb donnbr.

Klnkcumgni Xbdores

Lur sodpcb la 8: dlstcy dgmmcb-gnkldb kluntrgbs bntbrbm tfb 8::6 iclhocagnonkgoc krgsgs wgtf mgaabrbnt gngtgoc klnmgtglns. ]l sflw flw tfbsb kln-mgtglns oaabktbm tfbgr ohgcgty tl gdpcbdbnt kluntbrkykcgkoc agskoc plcgkylr o agskoc stgducus ot ony plgnt gn tgdb, wb krbotb on –gnmbx la dokrl-bklnldgk spokb.— Aovlrohcb iclhoc klnmgtglns onm plcgky gdprlvbdbntsup tl 8::9 strbnitfbnbm tfb dokrlbklnldgk spokb la o corib nudhbr ladgmmcb-gnkldb kluntrgbs, bspbkgoccy klddlmgty bxplrtbrs, hy occlwgnitfbd tl okkuducotb alrbgin bxkfonib rbsbrvbs, rbmukb bxtbrnoc onm puhcgkmbht, onm okfgbvb clw gnacotgln onm clw agskoc mbagkgts. Ltfbr kluntrgbs fom

ocrbomy hbbn wboebnbm hy fgif mbht, fgif gnacotgln, lr pbrsgstbnt mbagkgtshy 8::9. Gn corib port, tfbsb gngtgoc klnmgtglns mbtbrdgnbm tfb bxtbnt latfb kluntrgbs‗ agskoc rbsplnsb tl tfb iclhoc agnonkgoc krgsgs. [gnkb 8::6dony kluntrgbs fovb gdpcbdbntbm bxponsglnory agskoc plcgkgbs tfot fovbusbm up tfbgr ovogcohcb dokrlbklnldgk spokb. Dlst kluntrgbs fovb fom

Agiurb 9.?? Zrgdory Hoconkb Om`ustdbnt Xbqugrbm Xbcotgvbtl Fgstlrgkoc Zrgdory Hoconkb unmbr [kbnorgls ? onm ;

[lurkb0 Outflrs‗ kockucotglns, hosbm ln moto arld GDA 8:?:m.

   F  u  n  i   o  r  y

  K   f   g  n  o

   Z  l   c  o  n

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   G  n  m   g  o

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    X  b  p

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   D  b  x   g  k  l

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    A  b  m  b  r  o   t   g  l  n

?:

  p  b  r  k  b  n   t  o  i  b

  l   a   I   M   Z

61=8:

‛8‛=

2=;8?:‛?‛8

skbnorgl ?0 hosbcgnb irlwtf onm gntbrbst rotb (cbat oxgs)

skbnorgl ;0 doxgdud om`ustdbnt (cbat oxgs)

skbnorgl ;0 nudhbr la ybors la om`ustdbnt (rgift oxgs)

  y  b  o  r  s

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dgmmcb-gnkldb kluntrgbs onm tfb iclhoc agnonkgoc krgsgs ?7?

tl rbslrt tl gnkrbosbm hlrrlwgni hy tfb puhcgk sbktlr, hltf bxtbrnoccy onmmldbstgkoccy.

]fb dlst okutb pfosb la tfb krgsgs doy fovb possbm, hut ga tfb agskoc

gntbrvbntglns unmbrtoebn gn tfb oatbrdotf la tfb krgsgs orb tl klntgnub,dgmmcb-gnkldb kluntrgbs nbbm tl poy korbauc ottbntgln tl tfb sustognohgcgtyonm kldplsgtgln la tfbgr mbht cbvbcs (mldbstgk onm bxtbrnoc). Mbht cbvbcswgcc rbdogn fgif onm tfb rbklvbry wgcc hb sclw gn fgif-gnkldb kluntrgbs.Alr nbw hlrrlwgnis arld mbvbclpgni kluntrgbs, wlrcm gntbrbst rotbs doyrgsb onm doturgtgbs sflrtbn. Klntgnuluscy dlngtlrgni onm donoigni tfbgntbrbst rotb, kurrbnky, onm klddlmgty prgkb rgses osslkgotbm wgtf tfbgrmbht plrtalcgls wgcc hb krukgoc. Dgmmcb-gnkldb kluntrgbs ocsl nbbm tldogntogn krbmghcb mbht donoibdbnt onm agnonkgni strotbigbs tl supplrt

tfbgr agskoc spbnmgni onm plstkrgsgs agskoc om`ustdbnts.Rncbss tfby bdhore ln sbvbrb, unprbkbmbntbm agskoc om`ustdbnts lr orb

igvbn dlrb tgdb tl om`ust tfon kurrbnt prl`bktglns sbbd tl suiibst, sldbkluntrgbs wgcc fovb cgdgtbm rlld tl donbuvbr. Octfluif tromgtglnoc bxtbr-noc mbht sustognohgcgty onocysbs wgcc klntgnub tl hb on gdplrtont gnirbmg-bnt gn tfb onocytgkoc tllcegt, tfby nbbm tl hb suppcbdbntbm hy o kclsbrbxodgnotgln la puhcgk mbht (mldbstgk onm bxtbrnoc) onm dbmgud-tbrdagskoc sustognohgcgty hy tfb opprlprgotb outflrgtgbs ln on lnilgni hosgs.Ottbntgln sflucm ocsl hb igvbn tl dlngtlrgni onm donoigni tfb agskoc rgsesplsbm hy tfb orroy la klntgnibnt cgohgcgtgbs gnkurrbm hy sldb ilvbrndbntsgn tfb klntbxt la tfbgr rbsplnsbs tl tfb iclhoc agnonkgoc krgsgs. ]fgs wgcchb nbkbssory gn lrmbr tl dgngdgzb tfb rgses la unalrbsbbn koccs ln agskocrbslurkbs tfot doy orgsb arld sukf klntgnibnt cgohgcgtgbs arld o slurkb tfotdoy hb –tll hgi tl aogc.—

Nltbs

]fb outflrs tfone tfb onlnydlus rbvgbwbrs alr tfbgr gnsgiftauc klddbnts onm

suiibstglns ln on borcgbr mroat la tfgs kfoptbr os wbcc os portgkgponts ot tfb YlrcmHone‛OaMH [lvbrbgin Mbht onm Agnonkgoc Krgsgs klnabrbnkb gn ]ungs gn Dorkf8:?: alr tfbgr klddbnts.

  ?. ]fb Ylrcm Hone kcossgagbs kluntrgbs okklrmgni tl irlss notglnoc gnkldb(ING) pbr kopgto usgni tfb Otcos dbtflm. ING pbr kopgto gs $792 lr cbss gn clw-gnkldb kluntrgbs, $791‛$;,622 gn clwbr-dgmmcb-gnkldb kluntrgbs, $;,621‛$??,7:2 gn uppbr-dgmmcb-gnkldb kluntrgbs, onm $??,7:1 gn fgif-gnkldb kluntrgbs(sbb fttp0//il.wlrcmhone.lri/E8KED96KK:).

  8. Clw-gnkldb kluntrgbs fovb hbbn typgkoccy fgt lncy tfrluif gnmgrbkt kfon-nbcs, sukf os klddlmgty prgkbs, bxplrts, AMG aclws, onm rbdgttonkbs, os lncy o abwfovb okkbss tl gntbrnotglnoc kopgtoc dorebts. Igvbn tfb coribr sforb la gnkldb typg-

koccy spbnt ln allm gn clw-gnkldb kluntrgbs rbcotgvb tl dgmmcb-gnkldb kluntrgbs,tfb allm onm aubc prgkb hlld tfot lkkurrbm `ust hbalrb tfb iclhoc agnonkgoc krgsgsfom o coribr onm hrlombr gdpokt ln clw-gnkldb kluntrgbs tfon dgmmcb-gnkldbkluntrgbs, wboebngni tfbgr plsgtgln. [ldb kluntrgbs fovb hbnbagtbm arld mbhtrbcgba5 tfby rbcy coribcy ln clni-tbrd klnkbssglnoc aunmgni onm ironts arld ductg-cotbroc onm laagkgoc hgcotbroc krbmgtlrs.

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?78  von mllrn, surg, onm illptu

  ;. Hbtwbbn ?777 onm 8::1, ?? kluntrgbs gn tfb sodpcb fom dlvbm tl gnaco-tgln toribtgni. ]fby gnkcumbm Hrozgc, Kfgcb, onm Zlconm (?777)5 Klcldhgo, [lutfOargko, onm ]fogconm (8:::)5 Funiory onm Dbxgkl (8::?)5 Zbru onm tfb Zfgcgppgnbs

(8::8)5 Gnmlnbsgo (8::2)5 onm ]ureby (8::1) (Xlsb 8::1). [gnkb 8:::, ?? klun-trgbs gn tfb sodpcb (Oribntgno, Hrozgc, Kfgcb, Funiory, Gnmgo, Gnmlnbsgo, Dbxgkl,Ngibrgo, Zoegston, Zbru, onm Zlconm) fovb gdpcbdbntbm agskoc rucbs, gn tfb alrd lambht cgdgts, hoconkbm humibt rucbs, onm bxpbnmgturb onm rbvbnub rucbs (GDA 8::7h).]fbsb rucbs vory hy cbvbc la ilvbrndbnt, bnalrkbdbnt, onm tfb mbirbb la acbxghgcgtyokklrmbm hy tfb kbntbr tl suhnotglnoc bntgtgbs.

  =. Dlst kluntrgbs rbmukbm tfbgr irlss puhcgk mbht. Oribntgno mbkrbosbm gtsmbht arld ?9: pbrkbnt la IMZ gn 8::8 (os o rbsuct la tfb mbvocuotgln tfot ybor) tl9: pbrkbnt la IMZ gn 8::9, tfones tl aost nldgnoc irlwtf5 tfb stlke la mbht formcykfonibm. Gn Lktlhbr 8::2, Ngibrgo rbokfbm on oirbbdbnt wgtf Zorgs Kcuh krbmgtlrstl konkbc lr rbpoy ocdlst occ la tfb lutstonmgni kcogds oiognst gt (GDA 8::1).

2. ]ltoc mbht gn Funiory rlsb arld 22 pbrkbnt la IMZ gn 8::8 tl ?:; pbrkbnt

la IMZ gn 8::9, hut tfb agiurb gnkcumbs o corib gnkrbosb gn honegni onm gntbrkld-pony clons (GDA 8:?:h).

  1. Gn tfb Oroh Xbpuhcgk la Biypt onm Dbxgkl, bxkfonib rotb mbprbkgotgln woslaasbt hy ropgm IMZ irlwtf. Ngibrgo hbnbagtbm arld o corib rbmuktgln gn bxtbrnocmbht gn 8::2.

  9. ]fb klnkbpt la dokrlbklnldgk spokb gs sgdgcor tl tfot la Fbccbr (8::2), wflmbagnbs agskoc spokb os tfb spokb alr tfb ilvbrndbnt tl gdpcbdbnt o kluntbrkykcgkocagskoc plcgky lr bvbn o agskoc stgducus prlirod wgtflut `blpormgzgni tfb sustognohgc-gty la gts agnonkgoc plsgtgln lr tfb stohgcgty la tfb bklnldy.

6. Moto orb arld tfb @.Z. Dlrion Bdbrigni Dorebts Hlnm Gnmbx Iclhoc(BDHG Iclhoc), wfgkf trokes tltoc rbturns alr R.[. mlccor‛mbnldgnotbm mbht gnstru-

dbnts gssubm hy bdbrigni dorebt slvbrbgin onm quosg-slvbrbgin bntgtgbs.  7. Gn Lktlhbr 8::6 tfb Abmbroc Xbsbrvb orronibm mlccor cgqugmgty swops wgtf

tfb kbntroc hones la Hrozgc onm Dbxgkl (fttp0//www.abmbrocrbsbrvb.ilv/nbwsbvbnts/ prbss/dlnbtory/8::6?:87h.ftd). Gn Oprgc 8::7 Klcldhgo, Dbxgkl, onm Zlconmrbqubstbm acbxghcb krbmgt cgnbs wgtf tfb GDA. ]fb Osslkgotgln la [lutfbost OsgonNotglns (O[BON) kluntrgbs, tlibtfbr wgtf Kfgno, @opon, onm tfb Xbpuhcgk laElrbo, bxponmbm tfb Kfgoni Dog Gngtgotgvb‗s swop cgnbs.

?:. [bb oppbnmgx ? la tfb GDA mlkudbnt alr upmotbm gnalrdotgln ln krgsgs-rbcotbm mgskrbtglnory agskoc stgducus prlirods gn tfb I-8: kluntrgbs hosbm ln osurvby la GDA kluntry mbses.

 ??. ]fb klrrbcotgln hbtwbbn tfb lvbrocc dokrlbklnldgk gnmbx (agskoc, bxtbrnoc,

onm mldbstgk suhgnmgkotlrs) ot bnm-8::9 onm tfb kfonib gn rboc nlngntbrbst bxpbn-mgturb hbtwbbn 8::9 onm 8::7 gs =1 pbrkbnt. ]fb klrrbcotgln hbtwbbn tfb agskocsuhgnmgkotlr oclnb onm tfb kfonib gn rboc nlngntbrbst bxpbnmgturb hbtwbbn 8::9onm 8::7 gs dukf clwbr (8: pbrkbnt), suiibstgni tfot nlnagskoc vorgohcbs pcoy ongdplrtont rlcb gn mbtbrdgngni dokrlbklnldgk spokb.

?8. Lncy o sdocc plrtgln la Kfgno‗s agskoc stgducus pokeoib gs vgsghcb gn tfb hum-ibt moto, os dlst gs rbacbktbm gn hone cbnmgni (Qgnkbcbttb onm ltfbrs 8:?:)0 mldbstgkkrbmgt tl tfb prgvotb sbktlr suribm, arld ?:6 pbrkbnt la IMZ gn 8::6 tl ?;= pbrkbntla IMZ gn 8::7. ]fb kfonib”tfb coribst gnkrbosb onm tfb fgifbst cbvbc la prgvotbkrbmgt gn tfb sodpcb”pltbntgoccy rbmukbs Kfgno‗s agskoc spokb tl okt mlwn tfb rlom.

?;. ]fb gnmgkotlrs gnkcumbm o kldhgnotgln la agskoc onm bxtbrnoc gnmgkotlrsalr Kfgno, mldbstgk onm bxtbrnoc gnmgkotlrs alr ]fogconm, onm agskoc onm mldbstgk

gnmgkotlrs alr Kfgcb.?=. Occ alur sgducotglns usb prl`bktglns arld tfb GDA‗s Ylrcm Bklnldgk Lut-

clle motohosb (Oprgc 8:?:). ]fb nldgnoc dbmgud-tbrd irlwtf rotb gs tfb ovbroibprl`bktbm irlwtf rotb alr 8:?:‛?=. ]fb fgstlrgkoc prgdory hoconkb gs tfb ovbroib prg-dory hoconkb alr 8::8‛:9. Alr klddlmgty bxplrtbrs tfb ovbroib prgdory hoconkb

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dgmmcb-gnkldb kluntrgbs onm tfb iclhoc agnonkgoc krgsgs ?7;

wos vbry fgif, tfones tl tfb klddlmgty prgkb hlld5 tfby doy nlt hb ohcb tl okfgbvbtfbsb surpcusbs gn tfb dbmgud tbrd. O sgdgcor oriudbnt oppcgbs tl Klcldhgo, Zbru,onm ]ureby. ]fbrbalrb, alr tfbsb kluntrgbs tfb (clwbr) ovbroib arld ?771 tl 8::? gs

usbm. ]fb nldgnoc gntbrbst rotb irlwtf rotb mgaabrbntgoc (r ‛ i ) gs sbt ot ? pbrkbntoibplgnt alr occ kluntrgbs. Rsgni dorebt moto‛hosbm kluntry-spbkgagk vocubs alr (r ‛ i )toebn arld ]lpoclvo onm Nyhbri (8:?:) mlbs nlt doeb o sgingagkont mgaabrbnkb.

?2. ]fb =: pbrkbnt la IMZ toribt klrrbsplnms tl tfb sodpcb dbmgon la tfb8::=‛:9 ovbroib puhcgk mbht cbvbc la dgmmcb-gnkldb kluntrgbs (sbb GDA 8:?:o).

?1. ]fb clwbr irlwtf rotb kosb gs tfrbb-quortbrs la tfb hosbcgnb irlwtf rotb,ebbpgni tfb gntbrbst rotb unkfonibm. ]fb fgifbr gntbrbst rotb kosb gs 8 pbrkbntoibplgnts fgifbr tfon tfb hosbcgnb, cbomgni tl on gntbrbst rotb‛irlwtf rotb mgaabrbntgocla ; pbrkbntoib plgnts.

Xbabrbnkbs

Krbmgt [ugssb. 8:?:. –Bdbrigni Dorebts _uortbrcy, _8 8:?:.— Krbmgt [ugssbBdbrigni Dorebts Bklnldgks Iclhoc, Dorkf ?:.

Fbccbr, Zbtbr. 8::2. –Hoke tl Hosgks. Agskoc [pokb0 Yfot Gt Gs onm Flw tl IbtGt.— Agnonkb & Mbvbclpdbnt   =8 (8). fttp0//www.gda.lri/bxtbrnoc/puhs/at/ aonmm/8::2/:1/hosgks.ftd.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::1. –Ngibrgo0 Agrst Xbvgbw unmbr tfb Zlcgky[upplrt Gnstrudbnt - [toaa Xbplrt.— GDA Kluntry Xbplrt :1/?6:, GntbrnotglnocDlnbtory Aunm, Yosfgnitln, MK.

”””. 8::7o. –Oroh Xbpuhcgk la Biypt0 8::6 Ortgkcb GQ Klnsuctotgln [toaa Xbplrt.—

GDA Kluntry Xbplrt :7/82, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.”””. 8::7h. –Agskoc Xucbs0 Onkflrgni Bxpbktotglns alr [ustognohcb Zuhcgk

Agnonkbs.— Agskoc Oaaogrs Mbportdbnt, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln,MK.

”””. 8:?:o. –Agskoc Dlngtlr0 Novgiotgni tfb Agskoc Kfoccbnibs Ofbom.— AgskocOaaogrs Mbportdbnt, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

”””. 8:?:h. –Funiory0 Agatf Xbvgbw unmbr tfb [tonm-Hy Orronibdbnt onmXbqubst alr Dlmgagkotgln la Zbralrdonkb Krgtbrgln.— GDA Kluntry Xbplrt?:/6:, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

”””. 8:?:k. Gntbrnotglnoc Agnonkgoc [totgstgks. Yosfgnitln, MK0 Gntbrnotglnoc

Dlnbtory Aunm.”””. 8:?:m. Ylrcm Bklnldgk Lutclle. Yosfgnitln, MK0 Gntbrnotglnoc Dln-

btory Aunm.

Xlsb, Onmrbw. 8::1. –O [tohcb Gntbrnotglnoc Dlnbtory [ystbd Bdbribs0 Gnacotgln]oribtgni Gs Hrbttln Yllms, Xbvbrsbm.— NHBX Ylregni Zopbr ?89??, NotglnocHurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

]lpoclvo, Zbtgo, onm Mon Nyhbri. 8:?:. –Yfot Cbvbc la Zuhcgk Mbht Klucm Gnmgo]oribt<— GDA Ylregni Zopbr ?:/9, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln,MK.

Qgnkbcbttb, Ioccgno, Ocvorl Donlbc, Orml Fonssln, onm Clugs Eug`s. 8:?:. –]fb

Iclhoc Krgsgs onm tfb Dbmgud-]brd Irlwtf Zrlspbkts alr Kfgno.— Ylrcm HoneYlresflp ln Krgsgs onm Dbmgud-]brd Zrlspbkts alr Irlwtf, Yosfgnitln,MK, Mbkbdhbr ?9‛?6.

Ylrcm Hone. 8:?:. Iclhoc Bklnldgk Zrlspbkts. Yosfgnitln, MK0 Ylrcm Hone.

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?72

6

[docc [totbs, tfb Agnonkgoc Krgsgs,

onm tfb OatbrdotfBmiorml Aovorl, Mñrtb Mñdbconm,Ygccgod L‗Hlycb, onm ]gfldgr [tuk̄eo

[docc stotbs, mbagnbm os kluntrgbs wgtf plpucotglns la cbss tfon8 dgccgln pblpcb, aokb ungqub bklnldgk onm puhcgk donoibdbnt kfoc-cbnibs.? ]fb agnonkgoc krgsgs fos fom o dgxbm gdpokt ln sdocc stotbs”

sbvbrb gn sldb kluntrgbs, rbcotgvbcy dgcm gn ltfbrs. ]fb krgsgs fos ocsloaabktbm puhcgk mbht tro`bktlrgbs, brosgni rbkbnt iogns gn mbht rbmuktgln gnsldb kluntrgbs onm bxokbrhotgni ocrbomy kfoccbnigni mbht sgtuotglns.

[bvbroc agnmgnis bdbrib arld lur onocysgs la tfb baabkts la tfb krgsgs lnsdocc stotbs0

• ]fb krgsgs fos fom dlrb prlalunm baabkts ln fgifbr-gnkldb sdocc

stotbs. Gn 8::6 tfb dbmgon pbr kopgto IMZ la kluntrgbs wflsb IMZabcc ?: pbrkbnt wos $?;,29=. Kluntrgbs wflsb IMZ abcc ot cbost= pbrkbntoib plgnts fom o dbmgon pbr kopgto gnkldb la $8,6?=.Clwbr-gnkldb sdocc stotbs, wfgkf orb aurtfbr hbfgnm gn tfbgr trons-alrdotgln tl dlmbrn bklnldgbs onm dlrb gslcotbm arld tfb iclhocbklnldy, fovb hbbn cbss bxplsbm tl tfb iclhoc rbkbssgln.

• ]fb krgsgs fos hbbn dlrb sbvbrb gn kluntrgbs tfot fom corib kurrbntokklunt mbagkgts os la bnm-8::9.8

• Gn dlst kosbs, tfb lrgign la tfbsb kurrbnt okklunt mbagkgts wos o prg-

votb sbktlr sovgnis‛gnvbstdbnt iop rotfbr tfon o puhcgk sbktlr iop.• ]fb hust wos prbkbmbm gn dlst kluntrgbs hy on bklnldgk hlld au-bcbm hy alrbgin mgrbkt gnvbstdbnt.

• ]fb rbkbssgln fos hbbn sbvbrb wfbrb o summbn stlp gn gntbrnotglnockopgtoc aclws wos okkldpongbm hy mgsruptgln gn tfb aunktglngni la

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?71  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

tfb agnonkgoc systbd, os gt wos gn Gkbconm onm tfb Bostbrn Korghhbon Kurrbnky Rngln (BKKR).;

• ]fb krgsgs rbsuctbm gn o sforp gnkrbosb gn agskoc mbagkgts okrlss dlst

sdocc stotbs, mrgvbn coribcy hy o mbkcgnb gn tox rbvbnub klccbktgln. ]fgsgnkrbosb gn agskoc mbagkgts gs portgkucorcy wlrrgsldb gn kluntrgbs wgtffgif puhcgk mbht tl IMZ rotgls.

• Ln ovbroib, tfb agnonkgoc krgsgs rbvbrsbm tfb mbkcgnb gn mbht hurmbngnmgkotlrs tfot fom hbbn okfgbvbm tfrluiflut tfb borcy 8:::s.

]fb kfoptbr gs lriongzbm os alcclws. ]fb nbxt sbktgln gmbntgagbs tfbungqub kfoccbnibs sdocc stotbs aokb onm prlvgmbs on lvbrvgbw la tfb struk-turoc kforoktbrgstgks la tfbgr bklnldgbs. ]fb sbklnm sbktgln bxodgnbs tfb 

gdpokt la tfb iclhoc agnonkgoc krgsgs ln sdocc stotbs, cllegni ot hltf tfbpuhcgk sovgnis‛gnvbstdbnt iop onm mbht hurmbn gnmgkotlrs. ]fb cost sbk-tgln prlvgmbs sldb klnkcumgni rbdores.

Kfoccbnibs Aokbm hy [docc [totbs

Dlst sdocc stotbs orb yluni, fovgni okfgbvbm gnmbpbnmbnkb gn tfb postalur mbkombs. La tfb =9 sdocc stotbs cgstbm gn tohcb 6.?, =; (occ hut Hfuton,Gkbconm, Cuxbdhluri, onm [on Dorgnl) hbkodb gnmbpbnmbnt oatbr ?727onm 8= hbkodb gnmbpbnmbnt oatbr ?79;.= 

Zlcgtgkoc gnmbpbnmbnkb dbont tfot notglnoc gnstgtutglns summbncy fom tlprlvgmb sbrvgkbs lnkb prlvgmbm hy klclngoc gnstgtutglns. Gt fos ocsl dbont oiromuoc tronsalrdotgln arld tfb prlmuktgln onm bxplrt la o abw oirgkuc-turoc klddlmgtgbs (gn dlst kosbs, hononos onm suior) tl prlmuktgln onmbxplrt la sbrvgkbs onm, gn o abw kosbs, donuaokturbm illms (Aovorl 8::6).

]fbsb kfonibs fovb hbbn klstcy onm toebn tgdb. [docc stotbs tfot spb-kgocgzbm gn tfb prlmuktgln la suior onm hononos mgm nlt hbkldb suppcgbrsla tlurgsd lr agnonkgoc sbrvgkbs lvbrngift5 mgspcokbm ruroc wlrebrs mgm

nlt gnstontonbluscy mbvbclp tfb segccs mbdonmbm hy tfb bxponmgni sbr-vgkb sbktlr. Ocsl, bvbn alr tfb sbrvgkb gnmustry tfbrb orb klsts alr hugcmgnignarostrukturb. Octfluif nbkbssory, tfb tronsalrdotgln fos latbn hbbnokkldpongbm hy bxpbrgdbntotgln onm dgstoebs, bxponsgln la ilvbrndbntbdpclydbnt, sustognbm agskoc mbagkgts, onm gn sldb kluntrgbs, tfb hugcmupla o corib puhcgk sbktlr mbht.

]fb sfgat gntl tlurgsd onm ltfbr sbrvgkbs onm owoy arld oirgkucturbfos nlt rbmukbm tfb bxplsurb kousbm hy tfb klnkbntrotgln la prlmuktglnonm bxplrts gn o abw prlmukts. Os o rbsuct, sfgats gn bxtbrnoc mbdonm fovb

o mgsprlplrtglnotbcy corib baabkt ln tfb IMZ la tfbsb stotbs. [docc dorebtsgzb ocsl norrlws tfb lpplrtungtgbs tl mgvbrsgay rgse.Mbspgtb mgsomvontoibs wgtf rbspbkt tl tfb plssghcb bxpclgtotgln la

bklnldgbs la skocb onm, gn sldb kosbs, ibliropfgk gslcotgln onm bxplsurbtl noturoc mgsostbrs, sdocc stotbs fom o dbmgon purkfosgni plwbr porgty

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?  7   9  

]ohcb 6.? [docc [totbs, hy Xbigln onm Gnkldb Irlup

Xbigln Clw gnkldb Dgmmcb gnkldb

Bost Osgo onm tfbZokgagk

[lcldln Gsconms Ag`g, Egrghotg, Dorsfocc Gsconms, Abmbrotbm [la Dgkrlnbsgo, Zocou, [odlo, ]gdlr-Cbstb]lnio, Qonuotu

Burlpb onm KbntrocOsgo

Elslvl, Dlntbnbirl

Cotgn Odbrgko onm tfbKorghhbon

Ontgiuo onm Horhumo, Hbcgzb, Mldgngko,Irbnomo, Iuyono, [t. Egtts onm Nbvgs,[t. Cukgo, [t. Qgnkbnt onm tfb Irbnomgnbs,[urgnodb

Dgmmcb Bost onm NlrtfOargko

  M`ghlutg

[lutf Osgo Hfuton, Docmgvbs

[uh-[oforon Oargko Kldlrls, ]fb Iodhgo,Iugnbo-Hgssou

Hltswono, Kopb Qbrmb, Iohln, Dourgtgus, ]ldç onm Zrgnkgpb, tfb [bykfbccbs, [wozgc

[lurkb0 Outflrs, hosbm ln fttp0//moto.wlrcmhone.lri/ohlut/kluntry-kcossgagkotglns/kluntry-onm-cbnmgni-Nltb0 [docc stotbs orb mbagnbm fbrb os Ylrcm Hone dbdhbr kluntrgbs wgtf plpucotglns la cbss tfon 8 dgc

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?76  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

(ZZZ)‛om`ustbm pbr kopgto gnkldb la $2,279 gn 8::6. Flwbvbr, pbr kopgtognkldb mgaabrbm wgmbcy okrlss sdocc stotbs, ronigni arld $2;9 gn Iugnbo-Hgssou tl $;1,7:8 gn Gkbconm.2 

]fb corib mgaabrbnkbs gn pbr kopgto gnkldb dogncy rbacbkt tfb bxtbnttl wfgkf bokf bklnldy fos hbbn ohcb tl prlagt arld tfb lpplrtungtgbsprlvgmbm hy tfb bxponsgln la wlrcm tromb, gnkcumgni tfrluif plcgkgbsonm rbiucotglns tfot aokgcgtotbm tfbgr gntbirotgln gntl wlrcm dorebts(Aovorl 8::6). [docc stotbs fovb oktgvbcy rbcgbm ln gnkrbosgni bxtbrnocmbdonm, lpbngni tfbdsbcvbs dlrb tfon coribr stotbs tl tromb gn illmsonm sbrvgkbs (Ocbsgno onm Yokzgori ?776)0 ot ??:.? pbrkbnt, tfb dbmgontromb sforb (tfb rotgl la bxplrts pcus gdplrts tl IMZ) gn sdocc stotbs gn8::6 bxkbbmbm tfb 96.7 pbrkbnt sforb gn coribr stotbs. [docc stotbs orb

ocsl dlrb lpbn tl tromb gn aoktlrs la prlmuktgln0 tfb dbmgon sforb lawlrebr‗s rbdgttonkbs os o pbrkbntoib la IMZ wos 8.; pbrkbnt gn 8::6,fgifbr tfon tfb ?.9 pbrkbnt ovbroib gn coribr stotbs. ]fb sforb la nbtalrbgin mgrbkt gnvbstdbnt (AMG) aclws gn IMZ wos ocsl dukf fgifbr gnsdocc stotbs (6.7 pbrkbnt) tfon gn coribr stotbs (;.1 pbrkbnt).

]fb quocgty la plcgkgbs, gnstgtutglns, onm rbiucotlry arodbwlres foshbbn gnstrudbntoc gn occlwgni sbvbroc sdocc stotbs tl sukkbssauccy bxpclgtgntbrnotglnoc tromb lpplrtungtgbs, noturoc rbslurkbs onm, gn sldb kosbs, tfbbxplrt la donuaokturbm illms5 lr tl ottrokt bxtbrnoc sovgnis tl agnonkbtfb tronsgtgln arld oirgkucturb dlnlprlmuktgln tl sbrvgkbs. Alr gnstonkb,lvbr tfb post tfrbb mbkombs, Cbsltfl onm Dourgtgus baabktgvbcy usbm gnmus-trgoc plcgky onm tromb prbabrbnkbs tl aokgcgtotb tfb mbvbclpdbnt la tfbgrdonuaokturgni gnmustrgbs onm gnkrbosb bxplrts5 Kopb Qbrmb onm Docmgvbsottroktbm AMG tl mbvbclp tfbgr tlurgsd sbktlrs5 onm ]fb Hofodos onm Hor-homls mbvbclpbm gntbrnotglnoc agnonkgoc kbntbrs.

]fb Gdpokt la tfb Iclhoc Agnonkgoc Krgsgs ln[docc [totbs

]fb vlcudb la wlrcm tromb gn illms onm sbrvgkbs abcc ??.; pbrkbnt gn 8::7os o rbsuct la tfb sclwmlwn gn iclhoc bklnldgk oktgvgty kousbm hy tfb krgsgs(GDA 8:?:k). Klnsgmbrgni tfb rbcotgvb lpbnnbss la tfbgr bklnldgbs, flwmgm tfgs mbkcgnb oaabkt eby dokrlbklnldgk gnmgkotlrs gn sdocc stotbs<

Xboc IMZ Irlwtf onm Kurrbnt Okklunt Mbagkgt 

]ohcb 6.8 prbsbnts tfb onnuoc rotb la irlwtf la IMZ arld 8::; tl 8::7onm tfb kfonib gn tfb rotb la irlwtf hbtwbbn 8::9, tfb pboe la tfb bxpon-sgln, onm 8::7.1 Ygtf tfb bxkbptgln la Kldlrls onm Iugnbo-Hgssou, tfbrotb la irlwtf abcc gn occ sdocc stotbs arld 8::9 tl 8::7.9 ]fb aocc wosvbry prlnlunkbm (?: pbrkbntoib plgnts lr dlrb) gn Hfuton, Hltswono,

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?  7  7  

]ohcb 6.8 IMZ Irlwtf gn [bcbktbm [docc [totbs, 8::;‛:7(pbrkbnt)

Kluntry 8::; 8::= 8::2 8::1 8::9 8::6

Hofodos, ]fb ‛:.7 ‛:.6 2.9 =.; :.9 ‛?.9

Horhomls 8.: =.6 ;.7 ;.8 ;.= :.8

Hbcgzb 7.; =.1 ;.: =.9 ?.8 ;.6

Hfuton =.: 6.: 9.: 1.= ?7.9 2.:

Hltswono 1.; 1.: ?.1 2.? =.6 ;.?

Kopb Qbrmb =.9 =.; 1.2 ?:.6 9.6 9.6

Kldlrls 8.2 ‛:.8 =.8 ?.8 :.2 ?.:

Bostbrn KorghhbonKurrbnky Rngln ” ;.7 2.1 1.; 2.8 ?.6

Bstlngo 9.1 9.8 7.= ?:.: 9.8 ‛;.1

Ag`g ?.: 2.2 :.1 ?.7 :.2 :.?

Iodhgo, ]fb 1.7 9.: 2.? 1.2 1.; 1.?

Iugnbo-Hgssou ‛;.2 ;.? 2.: 8.8 :.; ;.2

Gkbconm 8.= 9.9 9.2 =.1 1.: ?.:Egrghotg 8.; 8.8 ;.7 ?.7 :.= ‛?.?

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8   :   :  

Cbsltfl =.; 8.; ?.? 1.2 8.= =.2

Docmgvbs 6.2 7.2 ‛=.1 ?6 9.8 1.;

Dorsfocc Gsconms ;.= 2.1 ?.9 ?.; 8.: ?.2

Dourgtgus =.; 2.2 ?.2 ;.7 2.= =.8

[odlo ;.6 =.8 9.: 8.8 8.; 2.:

[bykfbccbs ‛2.7 ‛8.7 2.6 6.; ??.2 ‛:.7[lcldln Gsconms 1.2 =.7 2.= 1.7 ?:.9 9.;

[urgnodb 1.; 6.2 =.= ;.6 2.8 1.:

]gdlr-Cbstb :.? =.8 1.8 ‛2.6 6.= ?8.6

]lnio ?.6 : ‛:.8 ‛:.; :.= ‛:.2

Qonuotu ?=.= 6.: 1.8 ?;.2 =.1 8.;

[lurkb0 GDA 8:?:h, GDA vorglus ybors.Nltb0 ” Nlt ovogcohcb.

]ohcb 6.8 (klntgnubm)

Kluntry 8::; 8::= 8::2 8::1 8::9 8::6

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sdocc stotbs, tfb agnonkgoc krgsgs, onm tfb oatbrdotf 8:?

Bstlngo, Gkbconm, Docmgvbs, tfb [bykfbccbs, onm tfb [lcldln Gsconms5 corib(=‛?: pbrkbntoib plgnts) gn ]fb Hofodos, Horhomls, tfb BKKR, [odlo,onm Qonuotu5 onm dlmbrotb (cbss tfon = pbrkbntoib plgnts) gn Hbcgzb, Kopb

Qbrmb, Ag`g, ]fb Iodhgo, Egrghotg, Cbsltfl, tfb Dorsfocc Gsconms, Dourg-tgus, [urgnodb, ]gdlr-Cbstb, onm ]lnio. IMZ abcc gn 8: la tfb kluntrgbsgnkcumbm gn tohcb 6.8.

]ohcb 6.; prbsbnts tfb kurrbnt okklunt hoconkb arld 8::; tl 8::7 onmtfb kfonib gn tfgs hoconkb hbtwbbn 8::9 onm 8::7. Ygtf tfb bxkbptgln laHfuton, Hltswono, Iugnbo-Hgssou, Cbsltfl, [urgnodb, onm ]gdlr-Cbstb,occ kluntrgbs rbplrtbm gn tfb tohcb fom o kurrbnt okklunt mbagkgt os la 8::95gn 7 la tfbsb kluntrgbs, tfb mbagkgt bxkbbmbm ?: pbrkbnt la IMZ.6 

Xbsplnsbs tl tfb krgsgs wbrb vorgbm. Hbtwbbn 8::9 onm 8::7, tfb kur-

rbnt okklunt hoconkb gdprlvbm (tfb mbagkgt abcc lr tfb surpcus gnkrbosbm)gn foca la tfb kluntrgbs gn tfb tohcb onm mbtbrglrotbm (tfb mbagkgt gnkrbosbmlr tfb surpcus abcc) gn tfb ltfbr foca. ]wl irlups la kluntrgbs stonm lut0]fb Hofodos, Horhomls, tfb BKKR kluntrgbs, Gkbconm, Bstlngo, Docmgvbs,onm [odlo”occ odlni tfb fgifbr-gnkldb kluntrgbs gn tfb tohcb”aokbmon ohrupt mbkcgnb gn okkbss tl bxtbrnoc sovgnis (o summbn stlp gn kopgtocgnaclws). Nlt surprgsgnicy, tfbsb kluntrgbs ocsl bxpbrgbnkbm o sforp mbkcgnbgn tfb rotb la irlwtf la IMZ. ]fb sbklnm irlup la kluntrgbs kldprgsbs tfbnoturoc rbslurkb‛hosbm prlmukbrs onm bxplrtbrs0 Hfuton, Hltswono, [urg-nodb, onm ]gdlr-Cbstb. ]fbsb kluntrgbs suaabrbm o sforp aocc gn bxplrts oso rbsuct la tfb mbkcgnb gn wlrcm mbdonm alr klddlmgtgbs onm o klrrbsplnm-gni sforp aocc gn tfb rotb la irlwtf.

]l bxpclrb dlrb alrdoccy tfb rbcotglnsfgp hbtwbbn tfb kfonib gn bxtbr-noc klnmgtglns aokgni sdocc stotbs onm kfonibs gn lutput, wb rbirbssbmtfb kfonib gn tfb rotb la irlwtf la IMZ (MI) oiognst tfb hoconkb gn tfbkurrbnt okklunt os la 8::9 (KO:9) onm o muddy vorgohcb alr noturocrbslurkb‛hosbm bklnldgbs (tohcb 6.=). ]fb klbaagkgbnt gn hltf vorgohcbs gsnbiotgvb onm stotgstgkoccy sgingagkont0 o ? pbrkbntoib plgnt gnkrbosb gn tfbkurrbnt okklunt mbagkgt os la 8::9 gs osslkgotbm wgtf on ommgtglnoc aocc gn

tfb rotb la irlwtf la :.82 pbrkbnt. Kluntrgbs tfot wbrb dlrb rbcgont lnnoturoc rbslurkb‛hosbm bxplrts fom coribr mbkcgnbs gn tfbgr IMZ irlwtfmurgni tfb krgsgs.7 

]fb Zuhcgk [ovgnis‛Gnvbstdbnt Iop

]fb kurrbnt okklunt hoconkb gs gmbntgkoc tl tfb mgaabrbnkb hbtwbbn sov-gnis onm gnvbstdbnt. ]fb sovgnis-gnvbstdbnt iop gs bquoc tl tfb sud latfbsb iops gn tfb puhcgk onm prgvotb sbktlrs. ]fb gnalrdotgln nbbmbm tl

mgsoiirbiotb tfb twl iops gs nlt ovogcohcb5 alr tfgs rbosln, wb dbosurbtfb prgvotb sbktlr hoconkb os tfb mgaabrbnkb hbtwbbn tfb kurrbnt okklunthoconkb onm tfb lvbrocc puhcgk sbktlr hoconkb (tohcb 6.2) (sbb onnbx).

]ohcb 6.2 gccustrotbs twl gdplrtont aokts0 os la 8::9, sldb sdocc stotbs(Horhomls, tfb BKKR, Egrghotg, Docmgvbs, tfb [bykfbccbs, onm ]gdlr-Cbstb)

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8   :  8  

]ohcb 6.; Kurrbnt Okklunt Hoconkbs gn [bcbktbm [docc [totbs, 8::;‛:7(pbrkbntoib la IMZ)

Kluntry 8::; 8::= 8::2 8::1 8::9 8::6

Hofodos, ]fb ‛2.8 ‛8.6 ‛7.1 ‛?6.7 ‛?9.2 ‛?2.=

Horhomls ‛1.; ‛?8.: ‛?;.? ‛6.= ‛2.= ‛?:.2

Hbcgzb ‛?6.8 ‛?=.9 ‛?;.1 ‛8.? ‛=.: ‛?:.?

Hfuton ‛88.6 ‛?9.1 ‛87.8 ‛=.; ?8.8 ‛8.8

Hltswono 2.9 ;.2 ?2.8 ?9.81 ?2.= =.7

Kopb Qbrmb ‛??.8 ‛?=.= ‛;.= ‛2.: ‛6.9 ‛?8.=

Kldlrls ‛;.8 ‛=.1 ‛9.8 ‛1.? ‛1.9 ‛??.1

Bostbrn KorghhbonKurrbnky Rngln ‛?1.= ‛88.= ‛87.9 ‛;=.6 ‛;;.7 ‛8=.8

Bstlngo ‛??.; ‛??.; ‛?:.: ‛?1.7 ‛?9.? ‛7.=Ag`g ‛1.= ‛?8.1 ‛7.7 ‛?6.6 ‛?;.1 ‛?9.7

Iodhgo, ]fb ‛=.7 ‛?:.? ‛?6.2 ‛?;.= ‛?8.; ‛?1.:

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8   :   ;  

Iugnbo-Hgssou ‛;.; =.1 ‛:.8 ‛2.2 2.6 8.6

Gkbconm ‛=.6 ‛7.6 ‛?1.? ‛82.1 ‛?1.; ‛?2.6

Egrghotg ‛?7.2 ‛??.? ‛?6.2 ‛8.7 ‛?.: ‛:.1

Cbsltfl ‛?;.2 ‛1.? ‛9.7 =.9 ?=.? 7.1

Docmgvbs ‛=.2 ‛?2.6 ‛;1.= ‛;;.: ‛=?.2 ‛2?.=

Dorsfocc Gsconms ” ‛;.6 ‛6.= ‛?:.; ‛9.? ‛?8.8

Dourgtgus ?.9 ‛?.6 ‛2.8 ‛7.= ‛2.1 ‛?:.=

[odlo ‛6.; ‛6.= ‛7.1 ‛??.? ‛?2.7 ‛1.8

[bykfbccbs ‛:.8 ‛2.7 ‛?7.9 ‛?;.7 ‛8:.6 ‛==.9

[lcldln Gsconms 1.; ?1.; ‛9.: ‛?.1 ‛6.8 ‛1.=

[urgnodb ‛?6.: ‛?:.; ‛?;.: 9.2 9.2 ;.7

]gdlr-Cbstb ‛?2.= 8:.9 96.= ?12.8 871.? =:=.6

]lnio :.9 :.= ‛2.8 ‛6.8 ‛6.6 ‛??.1

Qonuotu ‛2.9 ‛1.: ‛6.= ‛2.; ‛1.7 ‛2.7

[lurkb0 GDA 8:?:h, GDA vorglus ybors.Nltb0 ” Nlt ovogcohcb.

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8:=  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

wbrb runngni agskoc mbagkgts la ot cbost = pbrkbnt la IMZ, hut dlst sdoccstotbs fom sdocc agskoc mbagkgts lr wbrb runngni surpcusbs (os mgm Bstlngo,Gkbconm, [urgnodb, onm ]lnio). [bklnm, tfbrb wos o dorebm mbtbrglrotglnla tfb lvbrocc puhcgk sbktlr hoconkb gn dlst sdocc stotbs hbtwbbn 8::9

onm 8::7.]ohcb 6.1 bstgdotbs tfb prgvotb sovgnis‛gnvbstdbnt iop, dbosurbm os

tfb mgaabrbnkb hbtwbbn tfb kurrbnt okklunt hoconkb onm tfb lvbrocc puhcgksbktlr hoconkb. Gn 8::9 tfb ohslcutb sgzb la tfb iop hbtwbbn prgvotb sov-gnis onm gnvbstdbnt wos vbry corib gn dlst la tfb kluntrgbs alr wfgkfgnalrdotgln gs ovogcohcb. Gn aokt, tfb prgvotb iop bxpcogns 9: pbrkbnt lrdlrb la tfb kurrbnt okklunt hoconkb gn ?= la tfb 8= sdocc stotbs gnkcumbmgn tohcb 6.; (gnkcumgni tfb sgx dbdhbrs la tfb BKKR). ]fb kfonib gn tfbprgvotb sovgnis‛gnvbstdbnt iop hbtwbbn 8::9 onm 8::7 wos vbry corib5

sdocc stotbs sukf os ]fb Hofodos, dbdhbrs la tfb BKKR, Bstlngo, Gkb-conm, Docmgvbs, onm [odlo unmbrwbnt o mrostgk onm corib summbn stlp gnkopgtoc gnaclws. Nlt surprgsgnicy, tfbsb stotbs orb odlni tflsb tfot bxpbrg-bnkbm stbbp mbkcgnbs gn tfb rotb la bklnldgk irlwtf.

Yb kon nbgtfbr ottrghutb wfgkf port la tfb prgvotb sovgnis‛gnvbstdbntiop klrrbsplnms tl sovgnis onm wfgkf port tl gnvbstdbnt nlr dbosurbwfot port la tfb agnonkgni klrrbsplnms tl nbw clons arld tfb rbst la tfbwlrcm onm wfot port wos agnonkbm tfrluif alrbgin mgrbkt gnvbstdbnt.Yb ml enlw, flwbvbr, tfot prgvotb gntbrnotglnoc kopgtoc aclws wbrb vbrygdplrtont gn tfb bklnldgk hlld la 8::2‛:9 onm tfb bklnldgk hust la8::6‛:7. Murgni tfbsb ybors, AMG wos portgkucorcy fgif gn ]fb Hofodos,tfb BKKR, Bstlngo, Iuyono, Gkbconm, [ël ]ldç onm Zrgnkgpb, onm tfb[bykfbccbs (tohcb 6.9).?:

]ohcb 6.= Bstgdotb la Kfonib gn Xotb la Irlwtf onm Kfonib gnKurrbnt Okklunt Hoconkb

Bquotgln ?0Mbpbnmbntvorgohcb0 MI Klbaagkgbnt  

[tonmormbrrlr t-stotgstgk Zrlhohgcgty

K ‛;.82 ?.16 ‛?.7= :.:9

MNXH ‛6.9= =.8: ‛8.:6 :.:2

KO:9 :.81 :.?: 8.=7 :.:8

X-squorbm :.82

Om`ustbm X-squorbm :.?6

[lurkb0 Outflrs.Nltb0 MI 4 kfonib gn rotb la irlwtf5 MNXH 4 muddy alr nlnrbslurkb-rgkf sdocc

stotbs5 KO:9 4 kurrbnt okklunt hoconkb gn 8::9.

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sdocc stotbs, tfb agnonkgoc krgsgs, onm tfb oatbrdotf 8:2

]ohcb 6.2 Lvbrocc Zuhcgk [bktlr Hoconkb gn [bcbktbm [docc [totbs,8::;‛:7(pbrkbntoib la IMZ)

Kluntry 8::; 8::= 8::2 8::1 8::9 8::6 8::7

Kfonibhbtwbbn

8::9 onm8::7

Hofodos,]fb ” ” ” ‛?.2 ‛8.2 ‛8 ‛=.9 ‛8.8

Horhomls ‛2.: ?.= ‛1.7 ‛2.; ‛6 ‛9.1 ‛6.= ‛:.=

Hbcgzb ” ‛1.= ‛2.= ‛8 ‛?.? :.6 ‛?.: :.?

Hfuton ” ” ‛?.8 :.1 :.9 8.8 ‛;.; ‛=.:

Kopb Qbrmb ‛;.2 ‛=.: ‛2.? ‛2 ‛:.9 ‛?.8 ‛6.6 ‛6.?

Kldlrls ‛:.; ‛:.2 ‛?.9 ‛;.= ‛8.; ‛8.; ” ”

BostbrnKorghhbonKurrbnkyRngln ” ‛=.; ‛=.= ‛2.? ‛=.= ‛=.9 ‛1.6 ‛8.=

Bstlngo 8.; ?.1 ?.1 ;.; 8.7 ‛8.; ‛;.: ‛2.7

Ag`g ” ” ” ‛; ‛?.1 ‛:.8 ‛8.7 ‛?.;

Iodhgo,]fb ” ” ” ‛9.6 :.2 ‛8.8 ‛?.1 ‛8.?

Gkbconm ‛?.1 ‛:.9 8.9 ;.6 2.= ‛:.2 ‛?=.= ‛?7.6

Egrghotg ” ‛8;.1 ‛?2.; ‛?2.2 ‛?1 ‛?;.; ‛?8.8 ;.6

Docmgvbs ” ‛?.6 ‛??.; ‛9.8 ‛=.7 ‛?;.6 ‛86.6 ‛8;.7

DorsfoccGsconms ” ‛?.6 ‛=.9 ?.7 :.= ‛:.; ‛:.; ‛:.9

Dourgtgus ” ” ‛2.; ‛=.1 ‛= ‛;.= ‛=.2 ‛:.2

[odlo ” :.; ‛:.2 :.1 ‛?.6 ‛;.7 ‛9.? ‛2.;

[bykfbccbs ” ” ” ” ‛6.9 ‛;.; 8.6 ??.2

[lcldlnGsconms ” 2.7 8.9 ?.9 :.2 ?.2 ‛:.= ‛:.7

[urgnodb ” ” ‛:.9 :.7 ; 8 ‛?.6 ‛=.6

]gdlr-Cbstb ” ‛7.; ‛1.8 ‛1.8 ‛2.9 ‛=.1 ‛2.9 :

]lnio :.; 8.? ‛8.6 ?.? ?.9 ?.; ‛;.7 ‛2.1[lurkb0 GDA 8:?:, GDA vorglus ybors.Nltb0 ” Nlt ovogcohcb.

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sdocc stotbs, tfb agnonkgoc krgsgs, onm tfb oatbrdotf 8:9 

]ohcb 6.9  Alrbgin Mgrbkt Gnvbstdbnt gn [bcbktbm [docc [totbs,8::;‛:7(pbrkbntoib la IMZ)

Kluntry 8::; 8::= 8::2 8::1 8::9 8::6 8::7

Hofodos, ]fb ;.2 =.6 7.= ??.; ?:.7 ” ”

Horhomls 8.8 ‛:.= 8 ;.; ;.7 2.8 ?.8

Hbcgzb ‛?.? ?:.1 ??.= 6.1 6.6 ” ”

Hfuton :.8 :.2 ?.8 :.9 9.= ?.2 ?.=

Hltswono 2.: =.: 8.9 =.= ‛:.8 ” ”

Kopb Qbrmb =.7 9.; ?.9 ?:.8 7.: ?8 1.1

Kldlrls :.; :.8 :.? :.? :.8 ” ”

Bostbrn KorghhbonKurrbnky Rngln ” ?;.1 ?9.; 81.; 89.9 88.1 ?1.;

Bstlngo 7.= 6.? 8?.; ?:.7 ?8.6 ;.9 :.;

Ag`g ?.1 1.7 2.= ??.6 6 6.6 6.=

Iodhgo, ]fb 1.: ?=.8 ??.; ?1.8 ?:.1 6.2 ?:

Iugnbo-Hgssou ?.9 :.1 8.7 2.1 ?.6 ” ”

Iuyono ;.2 ;.6 7.9 ??.8 ?=.? ” ”Gkbconm ;.? 2.9 ?7.8 8=.; ?2.8 ” ”

Cbsltfl ??.1 7.1 1.9 9.= 9.6 ” ”

Docmgvbs 8.: ?.7 ?.; ?.2 ?.= ? :.9

Dourgtgus ?.8 :.8 :.9 ?.1 2.: =.? ;

Nodghgo :.9 ?.; 8.; ‛:.= ?.7 ” ”

[odlo :.8 :.1 ‛:.9 =.1 :.2 ” ”

[ël ]ldç onmZrgnkgpb ;.2 ;.; ?;.6 ;:.? 8=.= ” ”

[bykfbccbs 6.; 2.= 7.9 ?2.? 89.; ;6 82.?

[lcldln Gsconms ‛:.2 ?.1 =.2 =.? 6.: ” ”

[urgnodb ‛1.: ‛8.2 ?.1 ‛9.9 ‛?:.8 ” ”

[wozgconm ‛;.= ;.: ‛?.6 =.2 ?.; ” ”

]lnio : ;.2 2.9 =.7 ?:.6 ” ”

Qonuotu 1.= 1 ;.1 ?:.2 1.9 ” ”

[lurkb0 GDA 8:?:h, GDA vorglus ybors.Nltb0 ” Nlt ovogcohcb.

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8:6  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

Ot tfb hbignngni la tfb mbkomb, sbvbroc sdocc stotbs bxpbrgbnkbm o sforpmbkcgnb gn tltoc puhcgk mbht onm o kfonib gn tfb bxtbrnoc/mldbstgk kldpl-sgtgln (agiurb 6.?). Oatbr pboegni ot o dbon la ohlut 7: pbrkbnt la IMZ

gn ?77=, tltoc puhcgk mbht mbkcgnbm tl 1: pbrkbnt la IMZ `ust hbalrb tfbagnonkgoc krgsgs.?8 ]fb mbkcgnb wos mrgvbn bntgrbcy hy tfb mrlp gn bxtbrnocpuhcgk mbht5 mldbstgk mbht klntgnubm gnkrbosgni, stohgcgzgni ot rluifcy82 pbrkbnt la IMZ hbalrb tfb agnonkgoc krgsgs.

]fb rboslns unmbrcygni tfb mbkcgnb gn tfb ovbroib mbht tl IMZ rotglvorgbm okrlss kluntrgbs onm rbiglns. Odlni clw-gnkldb kluntrgbs, gdpcb-dbntotgln la tfb Fbovgcy Gnmbhtbm Zllr Kluntrgbs (FGZK) Gngtgotgvb woson gdplrtont slurkb la mbht rbcgba (b.i., ]fb Iodhgo). Mbht rbstrukturgnign sldb kluntrgbs (b.i., [lcldln Gsconms) onm dlrb oustbrb agskoc prlirods

(b.i., Qonuotu) onm bklnldgk irlwtf gn ltfbrs (b.i., Kopb Qbrmb) unmbrcoytfb mlwnworm trbnm gn mbht rotgls. ]fb mbkcgnb gn tfb bxtbrnoc mbht tl IMZrotgl coribcy mbtbrdgnbm tfb bvlcutgln la tfb puhcgk mbht tl IMZ rotgl5 tfbovbroib mldbstgk mbht tl IMZ rbdognbm klnstont tfrluiflut tfb mbkomb.]fb ovbroib mbht rbvbrsoc gs bxpbktbm tl hb ocdlst bntgrbcy unmlnb hy tfbrbkbnt krgsgs, os ovbroib puhcgk mbht gs prl`bktbm tl rbokf cbvbcs ln tfb lrmbrla 9: tl 6: pbrkbnt la IMZ. ]fgs tgdb orlunm, flwbvbr, mldbstgk mbht gsbxpbktbm tl pcoy o dlrb prldgnbnt rlcb gn tfb mbht hugcmup.

Agvb sdocc stotbs (Kldlrls, ]fb Iodhgo, Iugnbo-Hgssou, Iuyono,onm [ël ]ldç onm Zrgnkgpb) hbnbagtbm arld mbht rbcgba unmbr tfb FGZKGngtgotgvb. Occ hut Kldlrls ocsl rbkbgvbm mbht stlke rbmuktglns unmbr tfbDuctgcotbroc Mbht Xbcgba Gngtgotgvb (DMXG), onm DMXG-bqugvocbnt dbkfo-ngsds. ]fb mbht tl IMZ rotgl gn kluntrgbs tfot mgm nlt rbkbgvb FGZK Gng-tgotgvb rbcgba ocsl abcc (agiurb 6.8).

Agiurb 6.? Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs, ?77:‛8:?=

[lurkb0 Outflrs, hosbm ln sodpcb la sdocc stotbs.Nltb0 Moto alr ?77:‛8::7 orb oktuoc moto5 moto alr 8:?:‛?= orb

prl`bktglns.

2:

1:

9:

6:

7:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

o. Dbon onm dbmgon tltocpuhcgk mbht tl IMZ rotgl

:

8:

=:

1:

6:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

h. Dbon kldplsgtgln lapuhcgk mbht

bxtbrnoc mbht mldbstgk mbhtdbon   dbmgon

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8?:  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

Gn Burlpb, sdocc stotbs‗ mbht tl IMZ rotgls ovbroibm cbss tfon =: pbrkbntla IMZ hbalrb 8::9 (agiurb 6.2). ]fb sforp gnkrbosb gn tfb ovbroib puhcgk

mbht tl IMZ rotgl wos mrgvbn prgdorgcy hy Gkbconm, wgtf on bxpbktbm mbhtcbvbc la dlrb tfon ?:: pbrkbnt la IMZ, onm tl o cbssbr mbirbb Kyprus onmDocto, wgtf prl`bktbm cbvbcs la kclsb tl 9: pbrkbnt la IMZ hy 8:?=.?; 

Dlst sdocc stotbs gn tfb [lutf Zokgagk fovb fom aoccgni mbht tl IMZrotgls, aokgcgtotbm hy mbht alrigvbnbss, bxkbptglnoccy corib bxtbrnoc ironts,

Agiurb 6.; Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs gn [uh-[oforon Oargko, ?77:‛8:?=

[lurkb0 Outflrs, hosbm ln sodpcb la sdocc stotbs.Nltb0 Moto alr ?77:‛8::7 orb oktuoc moto5 moto alr 8:?:‛?= orb

prl`bktglns.

=:

1:

6:

?::

?8:

?=:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

:

2:

?::

?2:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

bxtbrnoc mbht mldbstgk mbhtdbon   dbmgon

o. Dbon onm dbmgon tltoc

puhcgk mbht tl IMZ rotgl

h. Dbon kldplsgtgln la

puhcgk mbht

Agiurb 6.= Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrsgn [docc [totbs gn Cotgn Odbrgko onm tfb Korghhbon,

?77:‛8:?=

[lurkb0 Outflrs, hosbm ln sodpcb la sdocc stotbs.Nltb0 Moto alr ?77:‛8::7 orb oktuoc moto5 moto alr 8:?:‛?= orb

prl`bktglns.

=:

1:

6:

?::

?8:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

8:

=:

1:

6:

?::

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

o. Dbon onm dbmgon tltocpuhcgk mbht tl IMZ rotgl

h. Dbon kldplsgtgln la

puhcgk mbht

bxtbrnoc mbht mldbstgk mbhtdbon   dbmgon

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sdocc stotbs, tfb agnonkgoc krgsgs, onm tfb oatbrdotf 8??

onm, gn sldb kluntrgbs, corib agskoc om`ustdbnts (agiurb 6.1). [gzohcb bxtbr-noc ironts tl Egrghotg (1: pbrkbnt la IMZ), tfb Dorsfocc Gsconms (=: pbr-kbnt la IMZ), onm Zocou (8: pbrkbnt la IMZ) bxpcogn tfb rbcotgvbcy hbnginpuhcgk mbht tro`bktlry gn tfb rbigln. [forp R-turns gn agskoc plcgky kon hbalunm gn tfb Abmbrotbm [totbs la Dgkrlnbsgo, [odlo, tfb [lcldln Gsconms,onm Qonuotu (Kos onm Lto 8::6). Gn tfb [lcldln Gsconms, tfb mbht tro`bk-tlry gdprlvbm gn 8::9 alcclwgni tfb Flngoro Kcuh mbht rbmuktgln onmrbskfbmucgni oirbbdbnt.?= 

Lvbr tfb dbmgud tbrd, Bost Osgon onm Zokgagk gsconms ml nlt oppbor tlhb dukf oaabktbm, ln ovbroib, hy tfb rbkbnt krgsgs, ot cbost `umigni hy tfbklntgnuluscy mbkcgngni puhcgk mbht tro`bktlry. ]fb mbht sgtuotgln gs, flw-bvbr, sldbwfot plcorgzbm0 Egrghotg, tfb Abmbrotbm [totbs la Dgkrlnbsgo,

Zocou, tfb [lcldln Gsconms, onm Qonuotu bxfghgt vbry sdocc mbht cbvbcs,tfb fgifbst rbokfgni rluifcy 8: pbrkbnt la IMZ kldporbm tl tfb DorsfoccGsconms, [odlo, onm ]lnio wgtf sldbwfot dlrb bcbvotbm mbht cbvbcs lahbtwbbn =: onm 1: pbrkbnt la IMZ. ]fb cottbr mbht cbvbcs, wfgcb bcbvotbmgn rbiglnoc tbrds, orb stgcc hbngin wfbn kldporbm tl puhcgk mbht cbvbcs gntfb Korghhbon.

Gn [lutf Osgo, tfb mbht stlkes la Hfuton onm Docmgvbs gnkrbosbm suh-stontgoccy, ochbgt alr mgaabrbnt rboslns (agiurb 6.9). Hfuton‗s mbht hugcm-up kon coribcy hb bxpcognbm hy bxtbrnoc clons klntroktbm alr hugcmgni

fymrlplwbr pconts. Os tfgs arlnt-clombm mbht okkuducotgln gs usbm alrgnvbstdbnt purplsbs tl ibnbrotb bnbriy alr wfgkf o huybr (Gnmgo) fosocrbomy hbbn gmbntgagbm, tfb bnfonkbdbnt la alrbgin bxkfonib‛prlmukgnikopokgtgbs cbovbs Hfuton wgtf illm mbht prlspbkts ilgni alrworm. Gn kln-trost, gn Docmgvbs tfb mbht hugcmup fos hbbn tfb rbsuct la sbvbrb agskoc

Agiurb 6.2 Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs gn Burlpb onm Kbntroc Osgo, ?77:‛8:?=

[lurkb0 Outflrs, hosbm ln sodpcb la sdocc stotbs.Nltb0 Moto alr ?77:‛8::7 orb oktuoc moto5 moto alr 8:?:‛?= orb

prl`bktglns.

;:

=:

2:

1:

     p     b     r     k     b     n      t

:

?:

8:

;:

=:

     p     b     r     k     b     n      t

o. Dbon onm dbmgon tltoc

puhcgk mbht tl IMZ rotgl

h. Dbon kldplsgtgln la

puhcgk mbht

?77: ?772 8::: 8::2 8:?: 8:?2 ?77: ?772 8::: 8::2 8:?: 8:?2

bxtbrnoc mbht mldbstgk mbhtdbon   dbmgon

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8?8  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

onm bxtbrnoc gdhoconkbs. Oatbr 8::9, tfb iclhoc bklnldgk mlwnturn fomo sgingagkont nbiotgvb gdpokt ln bxplrt onm tlurgsd rbkbgpts, mbprbssgniilvbrndbnt rbvbnubs. Os bxtbrnoc agnonkgni wos cgdgtbm, mldbstgk mbhtgnkrbosbm suhstontgoccy hbalrb tfb lnsbt la tfb agnonkgoc krgsgs.

Lvbr tfb dbmgud tbrd, puhcgk mbht gs bxpbktbm tl mbkcgnb stbomgcytl orlunm 6: pbrkbnt la IMZ gn tfb Docmgvbs. Zuhcgk mbht gn Hfuton

Agiurb 6.1 Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs gn Bost Osgo onm Zokgagk, ?77:‛8:?=

[lurkb0 Outflrs, hosbm ln sodpcb la sdocc stotbs.Nltb0 Moto alr ?77:‛8::7 orb oktuoc moto5 moto alr 8:?:‛?= orb

prl`bktglns.

8:

;:

=:

2:

1:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

:

?:

8:

;:

=:

2:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

o. Dbon onm dbmgon tltoc

puhcgk mbht tl IMZ rotgl

h. Dbon kldplsgtgln la

puhcgk mbht

bxtbrnoc mbht mldbstgk mbhtdbon   dbmgon

Agiurb 6.9  Oktuoc onm Zrl`bktbm Mbht [tlke Gnmgkotlrs gn[docc [totbs gn Hfuton onm Docmgvbs, ?77:‛8:?=

[lurkb0 Outflrs, hosbm ln sodpcb la sdocc stotbs.Nltb0 Moto alr ?77:‛8::7 orb oktuoc moto5 moto alr 8:?:‛?= orb

prl`bktglns. Nl dbmgon agiurbs orb sflwn, hbkousb sodpcb gnkcumbs `ust twlkluntrgbs.

o. Dbon tltoc puhcgk mbhttl IMZ rotgl

h. Dbon puhcgk mbhttl IMZ rotgl

=:

1:

6:

?::

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

:

8:

=:

1:

6:

     p     b     r     k     b     n      t

?77: ?772 8::: 8::2 8:?: 8:?2

bxtbrnoc mbht   mldbstgk mbht

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sdocc stotbs, tfb agnonkgoc krgsgs, onm tfb oatbrdotf 8?;

gs bxpbktbm tl pboe ot ??: pbrkbnt la IMZ gn 8:?25 fbnkbalrtf, tfbtro`bktlry gs prl`bktbm tl mbkcgnb stbbpcy os fymrl aokgcgtgbs orb put gntllpbrotgln.

Kfonibs gn mbht tl IMZ rotgls murgni tfb 8::9‛:7 pbrglm ronibm arlddgngdoc tl bxpclsgvb (Gkbconm onm tfb [bykfbccbs) (agiurb 6.6). ]fb gnkrbosbgn mbht gn sbvbroc kluntrgbs gn tfb Korghhbon rbigln gs nltbwlrtfy gn cgiftla tfbgr gngtgoc (prbkrgsgs) mbht tl IMZ rotgls.

]fb agnonkgoc krgsgs rbvbrsbm tfb ovbroib rbmuktgln gn mbht hurmbns tfotfom lkkurrbm gn tfb borcy 8:::s. Ovbroib puhcgk mbht gs nlw prl`bktbm tlrbokf rluifcy 9: pbrkbnt la IMZ hy 8:?=‛?2, on ovbroib mbtbrglrotglnbqugvocbnt tl 8: pbrkbnt la IMZ.

Klnkcumgni Xbdores

[docc stotbs unmbrilgni o mbbp rbkbssgln gn tfb woeb la tfb iclhoc agnonkgockrgsgs fovb fgifbr pbr kopgto gnkldb onm orb dlrb kclsbcy gntbirotbm gntltfb iclhoc bklnldy tfon sdocc kluntrgbs bxpbrgbnkgni dgcmbr mlwnturns.

Agiurb 6.6 Zuhcgk Mbht tl IMZ Xotgl gn [bcbktbm [doccKluntrgbs, 8::9‛:7

‛:.=

‛:.8

:

:.8

:.=

:.1

:.6

?

  K  o  p  b

    Q  b  r  m

  b

  I  u  y  o

  n  o

  I  u   g  n  b

  o  -   H   g

  s  s  o  u    A   g   `    g

  [   t .    E   g

   t   t  s   o  n

  m    N  b  v   g  s

   B  s   t  l  n

   g  o

  O  n   t   g  i   u  o

   o  n  m    H  o

  r   h  u  m

  o   D  o

   c   t  o

  [   t .    C  u

  k   g  o

   H   f  u   t  o

  n

   ]  l  n  i   o

   ]   f  b    H  o

   f  o  d  o

  s

   D  l  n   t  b

  n  b  i   r  l

   H  o  r   h

  o  m  l  s

   D  o   c  m   g

  v  b  s

  [  b  y  k

   f  b   c   c  b  s

   G  k  b   c  o  n

  m

  [   t .    Q   g

  n  k  b  n

   t   o  n  m

    t   f  b

  I  r  b  n

  o  m   g  n  b

  s

alrbgin mbht mldbstgk mbht tltoc puhcgk mbht

[lurkb0 Outflrs, hosbm ln sodpcb la sdocc stotbs.

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8?=  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

Mlbs tfgs dbon tfot gntbirotgln wgtf tfb rbst la tfb wlrcm fos hbbntfb wrlni mbvbclpdbnt strotbiy alr tfbsb kluntrgbs< [ukf o klnkcusglnwlucm hb dgsiugmbm. O mldbstgk-cbm irlwtf strotbiy wlucm fovb hbbn o

surb rbkgpb alr aogcurb. Ot tfb sodb tgdb, on bxplrt-cbm mbvbclpdbnt strot-biy bntogcs rgses tfot sflucm hb kclsbcy dlngtlrbm”rgses tfot irlw bxpl-nbntgoccy wfbn tfb kluntry gs fbovgcy gnmbhtbm tl tfb rbst la tfb wlrcm.

]fb gdpokt la tfb krgsgs fos hbbn irbotbr odlni sdocc stotbs tfot fomfgif cbvbcs la bxtbrnoc bxplsurb onm odlni bxplrtbrs la noturoc rbslurkb‛hosbm prlmukts. Gn tfb agrst irlup la kluntrgbs, tfb krgsgs sforpcy rbmukbmokkbss tl bxtbrnoc sovgnis (onm gn sldb kosb rbvbrsbm gts sgin), kousgni osforp mrlp gn mldbstgk mbdonm onm mbkcgnb gn IMZ. Gn tfb sbklnm irlup lakluntrgbs, tfb krgsgs lpbrotbm tfrluif o mbkcgnb gn tfb mbdonm alr bxplrts

onm tfb klnkldgtont aocc gn tfb cbvbc la bklnldgk oktgvgty.]fb gdplrtonkb la kopgtoc gnaclws gn spurrgni on bklnldgk hlld gn

sbvbroc sdocc stotbs gn 8::=‛:9 onm on bklnldgk hust hbtwbbn 8::9 onm8::7 konnlt hb lvbrstotbm. ]fb kluntbrport la tfbsb gnaclws wos coribcyprgvotb sbktlr mbkgsglns tl gnkrbosb klnsudptgln lr gnvbstdbnt rotfbr tfonpuhcgk sbktlr mbagkgts. Dukf rbdogns tl hb cbornbm ohlut tfb donoibdbntla tfbsb gnaclws. Gdplrtgni kopgtoc hy os dukf os ?: pbrkbnt la IMZ lrdlrb onnuoccy doy okkbcbrotb kclsgni tfb gnkldb iop wgtf mbvbclpbmkluntrgbs, hut gt ocsl plsbs corib om`ustdbnt rgses wfbn tfbrb orb swgatkfonibs gn gntbrnotglnoc gnvbstlrs‗ pbrkbptglns.

]fbsb rgses orb hy nl dbons ungqub tl sdocc stotbs. Bvbn sl, tfbrb gsnl bskopgni tfb aokt tfot tfb klst la om`ustdbnt gs dukf dlrb prlnlunkbmalr o sdocc bklnldy tfon alr o coribr lnb. Gn ommgtgln, tfbsb bklnldgbsfovb cgttcb lr nl acbxghgcgty tl rbocclkotb rbslurkbs owoy arld tlurgsd onmgntl ltfbr illms onm sbrvgkbs5 ot tfb vbry cbost, tfb tronsalrdotgln rbqugrbso clni tgdb flrgzln onm tfb okqugsgtgln la on bntgrbcy nbw sbt la segccs.Murgni sukf o tronsgtgln, sdocc stotbs doy hb aokbm wgtf sforp mrlps gnklnsudptgln, mbkcgngni alrbgin bxkfonib rbsbrvbs, onm tfb okkuducotglnla corib puhcgk bxtbrnoc mbht.

Zost gdprumbnt agskoc donoibdbnt fos rbsuctbm gn fgif cbvbcs la puhcgkmbht gn sbvbroc sdocc stotbs. ]fb mbkcgnb gn mbht tl IMZ rotgls la tfb borcy8:::s fos hbbn wgpbm lut, onm sbvbroc sdocc stotbs nlw fovb mbht rotglstfot wgcc omvbrsbcy oaabkt tfbgr kopokgty tl prlvgmb hosgk puhcgk illms onmbnkluroib nbw gnvbstdbnt onm bklnldgk irlwtf. Donoigni tfbsb fgifbrcbvbcs la puhcgk mbht gn on unkbrtogn bklnldgk bnvgrlndbnt wgcc hb o sgi-ngagkont kfoccbnib alr tfbsb sdocc stotbs ilgni alrworm.

Mbspgtb kcbor kfoccbnibs, o pbssgdgstgk vgbw gs hy nl dbons worrontbm.[docc stotbs orb hbnbagtgni sgingagkontcy arld wlrcmwgmb omvonkbs gn

gnalrdotgln onm klddungkotgln tbkfnlcliy os wbcc os arld mbrbiuco-tgln la clkoc dorebts. Octfluif tfgs tbkfnlcligkoc kfonib gs hbnbagtgni occkluntrgbs gn tfb wlrcm, gt gs portgkucorcy gdplrtont alr sdocc gsconm bklnl-dgbs, hbkousb gt rbmukbs tfb klst la klddungkotgln wgtf tfb rbst la tfb

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sdocc stotbs, tfb agnonkgoc krgsgs, onm tfb oatbrdotf 8?2

wlrcm, lpbns tfb plssghgcgty la okkbssgni bmukotgln onm fboctf sbrvgkbsovogcohcb gn fgif-gnkldb kluntrgbs, onm krbotbs nbw husgnbss lpplrtung-tgbs. [docc stotbs fovb lncy rbkbntcy gntrlmukbm rbiucotlry rbalrds tfot

doy fbcp tfbd toeb omvontoib la tfbsb lpplrtungtgbs.

Onnbx 6O0 Klnstruktgln la tfb Moto [bt

]fb moto usbm gn tohcbs 6.8‛6.9 wbrb kldpgcbm arld Ortgkcb GQ [toaaXbplrts la tfb GDA onm tfb GDA‗s Ylrcm Bklnldgk Lutclle (YBL). ]fbmoto usbm gn agiurbs 6.?‛6.6 kldb arld tfb Zongzzo (8::6) motohosb5 tfbywbrb bnfonkbm wgtf moto arld tfb Bklnldgk Zlcgky onm Mbht Mbportdbnt

la tfb Ylrcm Hone. Mbtogcs ln moto ovogcohgcgty kon hb alunm gn onnbxtohcb 6O.8.

]fb YBL moto sbt gnkcumbs nl moto ln sovgnis onm gnvbstdbnt. ]lmbkldplsb tfb kurrbnt okklunt hoconkb rbplrtbm gn tohcbs 6.;, 6.2, onm6.1, wb usbm tfb cotbst Ortgkcb GQ stoaa rbplrt ovogcohcb ln tfb GDA‗s bxtbr-noc Ybh sgtb. ]fgs dbons tfot tfb gnalrdotgln klntognbm gn tfbsb tohcbs gsnlt auccy klnsgstbnt wgtf tfb gnalrdotgln rbplrtbm gn tohcb 6.8. ]fb kocku-cotglns gn tohcbs 6.;, 6.2, onm 6.1 orb klnsgstbnt wgtf tfb kurrbnt okkluntmoto rbplrtbm gn onnbx tohcb 6O.?, wfgkf gs hosbm ln GDA Ortgkcb GQ [toaaXbplrts.

Octfluif tfgs gnklnsgstbnky gs unalrtunotb, tfb octbrnotgvb la mlgninltfgni untgc o dlrb kldpcbtb moto sbt gs ovogcohcb sbbdbm wlrsb tfonprlkbbmgni wgtf gnklnsgstbnt moto sbts. Ot tfb vbry cbost, tfb gdpbrabktsnopsflt prlvgmbm hy tfgs kfoptbr wgcc gmbntgay tfb moto tfot gntbrnotglnoclriongzotglns onm ilvbrndbnts la sdocc stotbs nbbm tl klccbkt.

]ohcb 6O.? Kurrbnt Okklunt Hoconkbs gn [bcbktbm [doccKluntrgbs, 8::;‛:7

Kluntry 8::; 8::= 8::2 8::1 8::9 8::6 8::7

Kfonibhbtwbbn

8::9onm

8::7

Hofodos,]fb ‛6.1 ‛2.= ‛??.9 ‛88.2 ‛8: ?=.= ‛7.= ?:.1

Horhomls ‛1.; ‛?8 ‛?8.1 ‛6.= ‛2.= ‛?:.2 ‛2.8 :.8

Hbcgzb ‛?6.9 ‛?=.9 ‛?;.1 ‛8.? ‛=.? ??.8 ‛1.9 ‛8.1Hfuton ” ” ‛=.2 ?=.= ‛8.? ‛?:.? ‛9.= ‛2.;

(klntgnubm nbxt poib)

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8?1  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

Hltswono 2.1 ;.? ?2.8 ?9.1 ?7.6 ” ” ”

Kopb Qbrmb ‛??.= ‛?= ‛=.: ‛1.7 ‛?;.1 ‛?8.= ‛?7.= ‛2.6

Kldlrls ‛8.6 ‛;.; ‛1.? ‛1.9 ‛??.; ‛6.: ‛?:.= :.7

BostbrnKorghhbon

KurrbnkyRngln ‛?1.= ‛88.= ‛87.9 ‛;=.6 ‛;;.7 ‛8=.8 ‛8=.? 7.6

Bstlngo ‛??.= ‛??.6 ‛?:.: ‛?1.6 ‛?6.: 7.2 ;.; 8?.;

Ag`g ‛=.? ‛?;.1 ‛?;.= ‛88.1 ‛?;.1 ‛?9.7 ‛7.7 ;.9

Iodhgo,]fb :.7 ‛9.9 ‛7.= ‛?8.7 ‛6.8 ‛?9.; ‛?7.; ‛??.?

Iuyono ‛1.: ‛8.2 ‛?8.? ‛?7.6 ‛?;.= ” ” ”

Gkbconm ‛=.7 ‛?:.: ‛?1.8 ‛82.2 ‛?2.7 ‛?:.9 ‛;2.6 ‛?7.7

Egrghotg ” ‛??.: ‛8:.8 ‛;.? ‛?.; ‛?.; ‛;.2 ‛8.8

Cbsltfl ‛?;.2 ‛2.; ‛9.= =.= ?8.9 ” ” ”

Docmgvbs ‛=.2 ‛?2.6 ‛;1.8 ‛;8.6 ‛=:.? ‛2?.= ‛87.1 ?:.2

DorsfoccGsconms ” ‛;.6 ‛6.= ‛?:.; ‛9.? ‛?8.8 ‛?8.? ‛2

Dourgtgus ?.6 ‛?.6 ‛2.8 ‛7.= ‛1.= ‛??.; ‛6.? ‛?.9

[odlo ” ‛1.6 ‛2.6 ‛?:.1 ‛1.1 ‛8.? ‛?8.9 ‛1.?

[bykfbccbs ‛?.; ‛6.1 ‛?7.9 ‛?;.6 ‛86.7 ‛==.9 ‛88.1 1.;[lcldln

Gsconms ‛?8 ‛2 ‛8?.6 ‛8?.; ‛?8.= ‛?6.9 ‛??.? ?.;

[urgnodb ‛?8.2 ‛7.8 ‛6.? 2.8 9.1 ;.7 ‛8 ‛7.1

]gdlr-Cbstb ” 8? 96 ?12 871 =:2 ?7? ‛?:2

]lnio ‛1.? ‛9.1 ‛1.= ‛1.2 ‛7.1 ‛8?.; ‛2:.? ‛=:.2

Qonuotu ‛9.7 ‛1.6 ‛7.8 ‛9.; ‛1.6 ” ” ”

[lurkb0 Outflrs, hosbm ln o sodpcb la sdocc stotbs.

Nltb0 ” Nlt ovogcohcb.

]ohcb 6O.? (klntgnubm)

Kluntry 8::; 8::= 8::2 8::1 8::9 8::6 8::7

Kfonib

hbtwbbn8::9onm

8::7

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8?6  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

]ohcb 6O.8 (klntgnubm)

# Kluntry

Kldpcbtb

alr8:::‛?:

Dgssgni Moto

Bxtbrnoc Mldbstgk

87 Dgkrlnbsgo, Abmbrotbm[totbs la Nl

?77:‛8::;,8:?= Occ

;: Dlntbnbirl Nl ?77:‛8::= ?77:‛8::=

;? Zocou Nl ?77:‛8:::,8::6‛?=

Occ

;8 _otor Nl ?77:‛8::?,8::7‛?:

?77:‛8::?,8::7‛?:

;; [odlo Wbs

;= [on Dorgnl Nl Occ Occ

;2 [ël ]ldç onm Zrgnkgpb Wbs

;1 [bykfbccbs Nl ?77:‛8::= ?77:‛8::=

;9 [lcldln Gsconms Wbs ?77:‛72 ?77:‛72

;6 [t. Egtts onm Nbvgs Wbs ?77:‛77 ?77:‛77

;7 [t. Cukgo Wbs

=: [t. Qgnkbnt onmtfb Irbnomgnbs Wbs

=? [urgnodbo Wbs ?77:‛76 ?77:‛76

=8 [wozgconm Wbs 8:?= 8:?=

=; ]gdlr‛Cbstb Wbs

== ]lnio Wbs ?77:‛7= ?77:‛7=

=2 ]rgngmom onm ]lhoil Wbs 8:?:‛?=

=1 Qonuotu Wbs[lurkb0 Outflrs.Nltb0 Kldpcbtb moto orb ovogcohcb alr ;? la =1 kluntrgbs. Moto alr Kyprus onm

[urgnodb orb nlt hrlebn mlwn hy bxtbrnoc onm mldbstgk mbht.

Nltbs

  ?. ]fb plpucotgln tfrbsflcm gs orhgtrory. Zlpucotgln (rotfbr tfon tbrrgtlry lrIMZ) gs usbm os o skocgni krgtbrgln alr tfrbb rboslns. Agrst, plpucotgln gs fgifcy klr-rbcotbm wgtf o tbrrgtlry‗s sgzb, sl gt fgifcgifts tfb cgdgtbm rbslurkbs la sdocc stotbs.[bklnm, plpucotgln gs dlrb fldlibnblus tfon tbrrgtlry, sl gt doebs krlss-kluntrykldporgslns dlrb dbongniauc. ]fgrm, usgni IMZ os o skocgni krgtbrgln wlucmfgifcgift klnstrognts ln bxpclgtgni bklnldgbs la skocb, hut gt wlucm kldpcgkotb

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sdocc stotbs, tfb agnonkgoc krgsgs, onm tfb oatbrdotf 8?7

tfb sbcbktgln la o tfrbsflcm tl mgaabrbntgotb hbtwbbn sdocc onm coribr stotbs (sbbDgkfobcy onm Zopoiblriglu ?776).

  8. O sgdgcor rbsuct flcms alr coribr stotbs (GDA 8:?:o).

;. ]fb BKKR gnkcumbs Ontgiuo onm Horhumo, Mldgngko, Irbnomo, [t. Egttsonm Nbvgs, [t. Cukgo, onm [t. Qgnkbnt onm tfb Irbnomgnbs.  =. Alrty-bgift sdocc stotbs orb dbdhbrs la tfb Ylrcm Hone.  2. ]fb klrrbsplnmgni agiurb alr coribr stotbs (mbagnbm os stotbs wgtf plpuco-

tglns la dlrb tfon 8 dgccgln) wos $9,721 (Ylrcm Hone 8:?:).  1. ]fb bklnldgk gnmgkotlrs sflwn gn tohcbs 6.8‛6.9 orb nlt ovogcohcb alr occ

sdocc stotbs. ]fbsb tohcbs orb tfbrbalrb hosbm ln o suhsbt la sdocc stotbs.  9. ]fb rotglnocb alr tfb sbcbktgln la tfb pbrglm gs tfot 8::9 gs tfb cost ybor la

tfb iclhoc bxponsgln onm 8::7 gs tfb cost ybor alr wfgkf moto wbrb ovogcohcb.  6. Ygtf tfb plssghcb bxkbptgln la Iugnbo-Hgssou, tfbsb orb noturoc rbslurkb‛

hosbm prlmukbrs onm bxplrtbrs.  7. Xbirbssgln bstgdotbs gnalrd ohlut klrrbcotgln rotfbr tfon kousocgty.

 ?:. Lvbrocc, AMG gnaclws orb prbabrrbm tl dlrb sflrt-tbrd agnonkgoc gnaclwswfbn gt kldbs tl donoigni tfb hoconkb la poydbnts.

??. ]fb sodpcb gnkcumbs moto ln occ sdocc stotbs cgstbm gn tohcb 6.?, wgtf tfbbxkbptgln la Hrunbg Morussocod onm Elslvl, alr wfgkf gnsuaagkgbnt moto wbrbovogcohcb. ]fb sodpcb ocsl gnkcumbs moto ln Cbsltfl. Moto up tl 8::9 klnsgst laoktuoc moto5 agiurbs alr 8::6 orb o kldhgnotgln la oktuoc, bstgdotbm, onm prl`bktbmmoto5 agiurbs alr 8::7 klnsgst la hltf bstgdotbm onm prl`bktbm moto5 moto arld 8:?:lnworm orb prl`bktglns.

?8. ]fb sodb trbnm flcms ga tfb dbmgon rotfbr tfon tfb dbon gs usbm alr tfbpbrglm 8:::‛:6.

?;. Gkbconm suaabrbm o agnonkgoc krgsgs tfot gnvlcvbm tfb klccopsb la occ tfrbb

do`lr hones onm o do`lr mbkcgnb gn rboc IMZ.?=. ]fb Flngoro Kcuh gs o tbrd mbnltgni krbmgtlrs klnsgstgni la tfb Oustro-

cgon Bxplrt Agnonkb onm Gnsuronkb Klrplrotgln, tfb Burlpbon Klddgssgln, tfbBurlpbon Gnvbstdbnt Hone, tfb Gntbrnotglnoc Aunm alr Oirgkucturoc Mbvbclpdbnt,tfb Euwogt Aunm alr Oroh Bklnldgk Mbvbclpdbnt, tfb LZBK Aunm, tfb Bxplrt-Gdplrt Hone la tfb Xbpuhcgk la Kfgno, onm tfb Gntbrnotglnoc Kllpbrotgln onmMbvbclpdbnt Aunm.

Xbabrbnkbs

Ocbsgno, Ochbrtl, onm Xldogn Yokzgori. ?776. –Lpbnnbss, Kluntry [gzb onm tfbIlvbrndbnt.— @lurnoc la Zuhcgk Bklnldgks 17 (;)0 ;:2‛8?.

Kos, [tbpfongb Dbmgno, onm Xug Lto. 8::6. –Hgi Ilvbrndbnt, Fgif Mbht, onm Ags-koc Om`ustdbnt gn [docc [totbs.— GDA Ylregni Zopbr YZ/:6/;7, GntbrnotglnocDlnbtory Aunm, Yosfgnitln, MK.

Aovorl, Bmiorml, bm. 8::6. –[docc [totbs, [dort [lcutglns.— Ylrcm Hone, ZlvbrtyXbmuktgln onm Bklnldgk Zlcgky onm Mbht Mbportdbnt, Yosfgnitln, MK.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8:?:o. –Flw Mgm Bdbrigni DorebtsKlpb gn tfb Krgsgs<— @ucy ?2, Yosfgnitln, MK. www.gda.lri/bxtbrnoc/np/pp/ 

bni/8:?:/:1?2?:.pma.”””. 8:?:h. Ylrcm Bklnldgk Lutclle. @unb. Yosfgnitln, MK0 Gntbrnotglnoc

Dlnbtory Aunm.

”””. 8:?:k. Ylrcm Bklnldgk Lutclle. @ucy. Yosfgnitln, MK0 GntbrnotglnocDlnbtory Aunm.

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88:  aovorl, mñdbconm, l‗hlycb, onm stuk̄eo

”””. Qorglus ybors. Ortgkcb GQ Klnsuctotglns (vorglus kluntrgbs). Yosfgnitln,MK0 Gntbrnotglnoc Dlnbtory Aunm.

Dgkfobcy, Dgkfobc, onm Mbdbtrgs Zopoiblriglu. ?776. –[docc Bklnldgbs ]romb

Cghbrocgzotgln, ]romb Zrbabrbnkbs, onm Irlwtf.— Ghbrlodbrgkono0 Nlrmgk @lur-noc la Cotgn Odbrgkon onm Korghhbon [tumgbs  86 (?‛8)0 ?8?‛27. [tlkeflcdRngvbrsgty, Gnstgtutb alr Cotgn Odbrgkon [tumgbs.

Zongzzo, Ril. 8::6. –Mldbstgk onm Bxtbrnoc Zuhcgk Mbht gn Mbvbclpgni Klun-trgbs.— Mgskussgln Zopbr, Rngtbm Notglns Klnabrbnkb ln ]romb onm Mbvbclp-dbnt (RNK]OM), Ibnbvo.

Ylrcm Hone. 8:?:. –Ylrcm Mbvbclpdbnt Gnmbx.— Oprgc motohosb. Yosfgnitln,MK.

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88?

7

Burlpb‗s Krgsgs0 Lrgigns onm

Zlcgky KfoccbnibsBmiorml Aovorl, Wgni Cg, @uon Zrombccg,onm Xocpf Qon Mllrn

Ln Doy 7, 8:?:, o dbbtgni la dgngstbrs la agnonkb la BurlpbonRngln (BR) kluntrgbs onnlunkbm o ₣92: hgccgln ($? trgccgln)pokeoib tl kocd agnonkgoc dorebt unkbrtognty ohlut tfb kopokgty

la Irbbkb onm ltfbr kluntrgbs tl dbbt tfbgr lutstonmgni mbht lhcgio-tglns. ]fb agnonkgoc dbosurbs gn`bktbm cgqugmgty gntl tfb hlnm dorebtonm rbcgbvbm sldb prbssurb, hut tfby ml nlt ommrbss unmbrcygni gdhoc-onkbs wgtfgn tfb Burl Orbo onm orb uncgebcy tl slltfb klnkbrns ohluttfb kopokgty la tfb puhcgk onm prgvotb sbktlrs tl rbpoy tfbgr mbhts (YlrcmHone 8:?:).

]fgs kfoptbr pcokbs kurrbnt agnonkgoc bvbnts gn tfb klntbxt la corib onm

prltroktbm kurrbnt okklunt gdhoconkbs wgtfgn tfb Burl Orbo murgni tfbpost mbkomb onm onocyzbs tfb cgebcgfllm la rbvbrsgni tfbsb gdhoconkbsgn cgift la om`ustdbnt bxpbrgbnkbs bcsbwfbrb. ]fb kfoptbr gs lriongzbmos alcclws. ]fb agrst sbktgln cgnes tfb kurrbnt mbht sgtuotgln tl corib onmsustognbm kurrbnt okklunt gdhoconkbs onm bxodgnbs tfbgr lrgign. ]fbsbklnm sbktgln bxodgnbs flw tfb plcgtgkoc bklnldy ospbkts la Burlpb‗skrgsgs orb gnacubnkbm hy tfb hugcmup la krlss-hlrmbr prgvotb onm puh-cgk mbhts. ]fb tfgrm sbktgln sfbms cgift ln tfb cgebcgfllm la sukkbss lambacotgln-hosbm bxtbrnoc om`ustdbnts hy bxodgngni mbacotgln bxpbrgbnkbs

wlrcmwgmb murgni tfb post alur mbkombs. ]fb cost sbktgln prlvgmbs sldbklnkcumgni rbdores.

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888  aovorl, cg, prombccg, onm von mllrn

Lrgigns la tfb Krgsgs

Hbtwbbn ?777 onm 8::9, tfb Burl Orbo dogntognbm o rluifcy hoconkbmkurrbnt okklunt wgtf rbspbkt tl tfb rbst la tfb wlrcm, hut tfbrb wbrb coribonm sustognbm gdhoconkbs wgtfgn tfb orbo. Irbbkb, Zlrtuioc, [pogn, onmtl o cbssbr bxtbnt Grbconm gnkurrbm suhstontgoc kurrbnt okklunt mbagkgts5Ibrdony, Cuxbdhluri, onm tfb Nbtfbrconms ron kurrbnt okklunt sur-pcusbs (agiurb 7.?).

Zbr kopgto IMZ gn tfb Burl Orbo irbw ?.9 pbrkbnt o ybor hbtwbbn?777 onm 8::9, scgiftcy ohlvb tfb ?.2 pbrkbnt plstbm gn ?778‛76. Odlnitfb mbagkgt kluntrgbs, Grbconm (=.2 pbrkbnt), Irbbkb (;.9 pbrkbnt), onm[pogn (8.; pbrkbnt) wbrb tfb bklnldgk kfodpglns la tfb mbkomb. Zlrtuioc(?.? pbrkbnt) fom wboe irlwtf pbralrdonkb, onm Ibrdony irbw ot `ust?.2 pbrkbnt o ybor.?

Dorebm mgaabrbnkbs gn tfb slurkbs la bklnldgk irlwtf okrlss kluntrgbsorb unklvbrbm hy mbkldplsgni tfb IMZ irlwtf rotb hy kldplnbnt laoiirbiotb mbdonm (sbb onnbx agiurb 7O.?). Gn Ibrdony onm Grbconm, bkl-nldgk irlwtf wos cbm hy bxplrts5 gn Irbbkb onm Zlrtuioc, irlwtf wos cbmhy o hlld gn prgvotb klnsudptgln5 gn [pogn hltf prgvotb klnsudptgln onmgnvbstdbnt cbm irlwtf.

Irbbkb, Grbconm, Zlrtuioc, onm [pogn agnonkbm tfbgr kurrbnt okklunt

mbagkgts tfrluif krlss-hlrmbr agnonkgoc onm kopgtoc dlvbdbnts. ]fbsbdlvbdbnts wbrb aokgcgtotbm hy tfb omlptgln la tfb klddln kurrbnky

Agiurb 7.? Kurrbnt Okklunt Hoconkbs la Burl Orbo Kluntrgbs

[lurkb0 ODBKL motohosb (Burlpbon Klddgssgln).Nltb0 Kluntrgbs tfot `lgnbm tfb Burl Orbo oatbr 8::1 (Kyprus, Docto, tfb

[clvoe Xbpuhcgk, onm [clvbngo) orb bxkcumbm.

?2

?:

  p  b  r  k  b  n   t  o  i  b  l

   a   I   M   Z

2:

‛2

‛?:

‛?2

  I  b  r  d

  o  n  y

   C  u  x  b

  d   h  l

  u  r  i 

   N  b   t   f  b

  r   c  o  n  m  s

  O  u  s   t  r

   g  o

   A   g  n   c  o

  n  m

   H  b   c  i    g  u  d

   A  r  o  n

  k  b    G   t  o   c  y

   G  r  b   c  o  n

  m  [  p

  o   g  n

   Z  l  r   t  u

  i   o   c

  I  r  b  b

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ovbroib ?777‛8::= ovbroib 8::2‛:9

8/7/2019 Sovereign Debt and the Financial Crisis

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 88;

gn ?777 (wfgkf mb aoktl bcgdgnotbm kurrbnky rgse) onm tfb bxponsgln laagnonkgoc oktgvgtgbs, dlst nltohcy hy Arbnkf onm Ibrdon hones, os gccus-trotbm hy tfb rgsgni vocub la tfbgr kcogds ln ossbts gn mbagkgt kluntrgbs (Irls

8:?:) (agiurb 7.8).]fb slurkbs la tfb corib onm wgmbngni kurrbnt okklunt mbagkgts vorgbm

okrlss kluntrgbs (agiurb 7.;). Gn Irbbkb onm Zlrtuioc, tfb bxtbrnoc iopstbddbm dogncy arld o clw sovgnis rotb, wfgkf gn turn rbacbktbm fgifpuhcgk onm prgvotb klnsudptgln rotbs. Hbtwbbn ?777 onm 8::9, Irbbkb‗skurrbnt okklunt mbagkgt gnkrbosbm arld 9.: pbrkbnt tl ?=.9 pbrkbnt laIMZ. ]fb wgmbngni la tfb mbagkgt wos kousbm hy o mbkcgnb gn tfb sovgnirotb arld ?2.: pbrkbnt tl 9.1 pbrkbnt la IMZ. ]fgs mbkcgnb kldprgsbm

Agiurb 7.8 Alrbgin Hones‗ Kcogds ln Ossbts la [bcbktbmBurlpbon Kluntrgbs, ?777‛8::7(hgccglns la mlccors)

[lurkb0 Hone la Gntbrnotglnoc [bttcbdbnts moto ln alrbgin kcogds hynotglnocgty la rbplrtgni hones, gddbmgotb hlrrlwbr hosgs.

o. Irbbe ossbts h. Grgsf ossbts

k. Zlrtuiubsb ossbts m. [pongsf ossbts

7:

92

1:

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82:

8::

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?::

2:

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8::

82:

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2:

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   M  b  k   ?  7

  7  7

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  :  :

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  :  ?

   D  o  r

   8  :  :  8

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  :  :  8

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  :  :  ;

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  :  :  =

   D  o  r

   8  :  :

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  :  :   9

   D  o  r

   8  :  :

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  7  7

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  :  :

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   D  o  r   8  :

  :  8

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  :  :  =

   D  o  r

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  :  :   2

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  :  :   9

   D  o  r

   8  :  :

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   M  b  k   8

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  :  :  7

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  :  :

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  :  ?

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   8  :  :  8

   M  b  k   8

  :  :  8

  [  b  p   8

  :  :  ;

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  :  :  =

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   8  :  :

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Ibrdony Aronkb

[wgtzbrconm Rngtbm [totbs

Nbtfbrconms

Rngtbm Egnimld

8/7/2019 Sovereign Debt and the Financial Crisis

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88=  aovorl, cg, prombccg, onm von mllrn

 (klntgnubm nbxt poib)

Agiurb 7.; Kurrbnt Okklunt, [ovgnis, onm Gnvbstdbnt gn[bcbktbm Burl Orbo Kluntrgbs, ?777‛8::7(onnuoc ovbroib pbrkbntoib la IMZ)

?: ;:

8:

?:

:

;:

8:

?:

:

2

:

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‛?:

‛?2

?:

2

:

‛2

‛?:

‛?2

  I  b  r  d

  o  n  y

  I  r  b  b

  k  b

   G  r  b   c  o  n

  m

   Z  l  r   t  u

  i   o   c

  [  p  o   g  n

  I  b  r  d

  o  n  y

  I  r  b  b

  k  b

   G  r  b   c  o  n

  m

   Z  l  r   t  u

  i   o   c

  [  p  o   g  n

  I  b  r  d

  o  n  y

  I  r  b  b

  k  b

   G  r  b   c  o  n

  m

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  i   o   c

  [  p  o   g  n

  I  b  r  d

  o  n  y

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  k  b

   G  r  b   c  o  n

  m

   Z  l  r   t  u

  i   o   c

  [  p  o   g  n

o. Kurrbnt okklunt hoconkb h. Notglnoc sovgnis

m. Gnvbstdbntk. Zrgvotb sbktlr sovgnis‛gnvbstdbnt iop

?777‛8::= 8::2‛:9 8::6‛:7

o =.8 pbrkbntoib plgnt mrlp gn tfb puhcgk sovgnis rotb onm o ;.; pbr-kbntoib plgnt mrlp gn tfb prgvotb sovgnis rotb. ]fb gnvbstdbnt rotbrbdognbm aogrcy stohcb gn ?777‛8::9 hut abcc hy = pbrkbntoib plgnts la

IMZ hbtwbbn 8::9 onm 8::7.Zlrtuioc‗s kurrbnt okklunt mbagkgt gnkrbosbm arld 6.7 pbrkbnt la IMZ

gn ?777 tl 7.6 pbrkbnt gn 8::9. Lvbr tfb sodb pbrglm, sovgnis mbkcgnbmarld ?6.7 pbrkbnt la IMZ tl ?8.= pbrkbnt, onm gnvbstdbnts abcc arld

8/7/2019 Sovereign Debt and the Financial Crisis

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 882

Agiurb 7.; (klntgnubm)

[lurkb0 ODBKL motohosb (Burlpbon Klddgssgln).Nltb0 ]fb kurrbnt okklunt hoconkb gs bquoc tl tfb sud la tfb puhcgk onm

prgvotb sbktlr sovgnis‛gnvbstdbnt iop lr notglnoc sovgnis dgnus gnvbstdbnt.

;:

8:

?:

:

?:

2

:

‛2

‛?:

‛?2

  I  b  r  d

  o  n  y

  I  r  b  b

  k  b

   G  r  b   c  o  n

  m

   Z  l  r   t  u

  i   o   c

  [  p  o   g  n

  I  b  r  d

  o  n  y

  I  r  b  b

  k  b

   G  r  b   c  o  n

  m

   Z  l  r   t  u

  i   o   c

  [  p  o   g  n

b. Zuhcgk sbktlr sovgnis‛gnvbstdbnt iop a. Gnvbstdbnt gn klnstruktgln

?777‛8::= 8::2‛:9 8::6‛:7

89.6 pbrkbnt la IMZ tl 88.8 pbrkbnt. La tfb 1.2 pbrkbntoib plgnt mbkcgnbgn tfb sovgnis rotb, tfb puhcgk sbktlr okklunts alr ?.= pbrkbntoib plgnts.

Gn Grbconm onm [pogn, on gnvbstdbnt hlld okkluntbm alr tfb kurrbntokklunt mbagkgts. Grbconm‗s kurrbnt okklunt hoconkb abcc arld o surpcus la:.; pbrkbnt la IMZ gn ?777 tl o mbagkgt la =.; pbrkbnt gn 8::9. ]fb mbtb-rglrotgln gn tfb bxtbrnoc plsgtgln wos kousbm hy o 8.= pbrkbntoib plgntgnkrbosb gn tfb gnvbstdbnt rotb onm o 8.; pbrkbntoib plgnt mrlp gn tfb

sovgnis rotb (wfgkf rbsuctbm arld mbkcgngni puhcgk sovgnis onm o stohcbprgvotb sbktlr sovgnis rotb). Gnvbstdbnt gn klnstruktgln rlsb arld ?=.9pbrkbnt la IMZ gn ?777 tl 8:.8 pbrkbnt gn 8::9. Murgni tfb krgsgs, tfbgnvbstdbnt rotb klntroktbm ?8 pbrkbntoib plgnts onm tfb sovgnis rotb abcc?:.8 pbrkbntoib plgnts (dogncy os tfb rbsuct la o ?8.? pbrkbntoib plgntmbkcgnb gn puhcgk sovgnis).

[pogn‗s kurrbnt okklunt mbagkgt gnkrbosbm arld 8.9 pbrkbnt la IMZ gn?777 tl ?:.: pbrkbnt gn 8::9. ]fb wgmbngni la tfb mbagkgt wos kousbm hyon gnkrbosb gn tfb gnvbstdbnt rotb, arld 82.? pbrkbnt tl ;?.: pbrkbnt la

IMZ, tfb rbsuct la o 2.; pbrkbntoib plgnt gnkrbosb gn klnstruktgln. ]fbgnkrbosb gn tfb gnvbstdbnt rotb gnmgkotbs o fgif bxpbktbm rotb la rbturn lngnvbstdbnt. ]fb sovgnis rotb rbdognbm klnstont hbtwbbn ?777 onm 8::9,hut tfb kldplsgtgln la sovgnis kfonibm mrodotgkoccy, wgtf on gnkrbosb gntfb puhcgk sovgnis rotb laasbttgni o mbkrbosb gn tfb prgvotb sovgnis rotb.

8/7/2019 Sovereign Debt and the Financial Crisis

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881  aovorl, cg, prombccg, onm von mllrn

Bxtbrnoc gdhoconkbs gn tfb Burl Orbo ocsl rbacbktbm mgaabrbnt pottbrnsgn bxplrts. ]fb bxplrt sforb gn IMZ gn Ibrdony gnkrbosbm arld 87.?pbrkbnt gn ?777 tl =9.2 pbrkbnt gn 8::9 (agiurb 7.=, ponbc o). Murgnitfb sodb pbrglm, tfb sforb la bxplrts gn IMZ rbdognbm rluifcy klnstontgn Irbbkb onm [pogn, gnkrbosbm scgiftcy gn Zlrtuioc, onm abcc gn Grbconm.Ibrdony‗s bxplrts bxponmbm nlt hbkousb la dorebt sforb iogns wgtfgntfb Burl Orbo hut hbkousb la iogns gn Kfgno, Gnmgo, onm Bostbrn Burlpb(ponbc h). Ibrdon bxplrts gnkrbosbm bvbn oatbr tfb iromuoc opprbkgotgln

la tfb burl lhsbrvbm sgnkb 8::8, wfgkf rbmukbm tfb bxtbrnoc kldpbtgtgvb-nbss la occ Burl Orbo kluntrgbs.

Mgaabrbnkbs gn bxplrt pbralrdonkb orb osslkgotbm wgtf fuib mgsporgtgbsgn tfb bklnldgk irlwtf strotbigbs onm woib onm cohlr plcgkgbs pursubm hyBurlpbon kluntrgbs. Ibrdony‗s irlwtf strotbiy wos bxplrt cbm5 tfb strot-bigbs la Irbbkb, Zlrtuioc, onm [pogn wbrb hosbm ln bxponsgln la mldbs-tgk mbdonm. Yoib onm cohlr plcgkgbs supplrtbm irlwtf strotbigbs onmbvbntuoccy iovb rgsb tl wgmb mgaabrbnkbs gn kldpbtgtgvbnbss. ]fb mynodgksla prlmuktgvgty irlwtf onm nldgnoc woib gnacotgln gn Irbbkb, Grbconm,

Zlrtuioc, onm [pogn wgtf rbspbkt tl Ibrdony rbsuctbm gn o stbomy gnkrbosbgn prlmuktgvgty-om`ustbm cohlr klsts gn tflsb kluntrgbs onm acot cohlr klstsgn Ibrdony (agiurb 7.2).

]fb kluntbrport la prltroktbm kurrbnt okklunt mbagkgts gn Irbbkb, Grbconm,Zlrtuioc, onm [pogn wos tfb okkuducotgln la agnonkgoc onm bqugty kcogds

Agiurb 7.= Bxplrts hy Ibrdony, ?776‛8::7

[lurkbs0 ODBKL motohosb (Burlpbon Klddgssgln)5 GDA 8:?:o.Nltb0 Bostbrn Burlpb gnkcumbs tfb Kzbkf Xbpuhcgk, Funiory, Zlconm, onm

tfb Xussgon Abmbrotgln.

2:

  b  x  p  l  r   t  s  o  s  p  b  r  k  b  n   t  o  i  b

  l   a   I   M   Z

  i  r  l  w   t   f  l   a  n  l  d   g  n  o   c  b  x  p  l  r   t  s

   (  p  b  r  k  b  n   t   )

=2

=:

;2

;:

82

;: ?= =1

=1

=2

=2

==

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=;

=;

=8

=8

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6

1

=

8

:

8:

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:

‛?:

‛8:

‛;:

  ?  7  7  6

   ?   7   7

   7

   8   :   :

   ?

   8   :   :

   ;

   8   :   :

   2

   8   :   :    9

   8   :   :

   7

  8  :  :  :

  8  :  :  8

  8  :  :  =

  8  :  :  1

  8  :  :  6

Kfgno (cbat oxgs)

Gnmgo (cbat oxgs)

Bostbrn Burlpb (cbat oxgs)

Burl Orbo (rgift oxgs)

tltoc illms onm sbrvgkb bxplrts (os pbrkbnt la IMZ)

nldgnoc irlwtf la tltoc bxplrts

o. ]ltoc onm nldgnoc bxplrtsirlwtf

h. Mbstgnotgln la bxplrts wgtfgnBurl Orbo

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 889 

hy alrbgin gnvbstlrs (dogncy rbsgmbnts gn bxplrtgni/cbnmgni kluntrgbs) lngnkldb ibnbrotbm mldbstgkoccy gn tfb gdplrtgni/hlrrlwgni kluntrgbs. ]fbklnsbqubnkb la kopgtoc gnaclws fos hbbn o aocc gn tfb nbt alrbgin ossbt plsg-tgln la Irbbkb, Grbconm, Zlrtuioc, onm [pogn onm o sustognbm gnkrbosb gn

tfb nbt aoktlr gnkldb pogm tl alrbginbrs (agiurb 7.1).8 Irbbkb onm Zlrtuiocwbrb nbt rbkgpgbnts la aoktlr gnkldb gn tfb cotb ?77:s, hut tfb hugcmup labxtbrnoc cgohgcgtgbs rbvbrsbm gnkldb aclws. Hy 8::9 nbt poydbnts ohrlomodluntbm tl ;.1 pbrkbnt la IMZ gn Irbbkb onm 8.; pbrkbnt gn Zlrtuioc,rbprbsbntgni lnb-quortbr la tfb kurrbnt okklunt mbagkgts gn hltf kluntrgbs.Nbt poydbnts ohrlom gn [pogn rlsb arld ?.: pbrkbnt la IMZ gn ?777 tl ;.8pbrkbnt gn 8::9, rbprbsbntgni lnb-quortbr la tfb bxtbrnoc mbagkgt. Hbkousb laalrbgin mgrbkt gnvbstdbnt onm alrbgin agrds lpbrotgni gn Grbconm, nbt poy-dbnts ohrlom fovb ocwoys hbbn sgzohcb, ovbroigni ?2 pbrkbnt la IMZ gn

?777‛8::9 onm tfus ohslrhgni dlst la tfb tromb surpcus.;

 ]fb iclhoc bklnldgk krgsgs put sbvbrb strogn ln ilvbrndbnt humibtsonm puhcgk mbht, rogsgni klnkbrns ohlut agskoc sustognohgcgty os wbcc osbxtbrnoc gdhoconkbs. ]fb gnkrbosb gn agskoc mbagkgts onm tfb vgrtuoc bxpcl-sgln la puhcgk mbht wbrb gddbmgotb klnsbqubnkbs la tfb krgsgs onm tfb

Agiurb 7.2 Kldpbtgtgvbnbss la [bcbktbm Burl Orbo Kluntrgbs,?777‛8::7(gnmbx 8::: 4 ?::)

[lurkb0 ODBKL motohosb (Burlpbon Klddgssgln).Nltb0 Nldgnoc ungt cohlr klsts orb tfb rotgl la kldpbnsotgln pbr bdpclybb

tl rboc IMZ pbr pbrsln bdpclybm alr tfb tltoc bklnldy. ]fb rboc baabktgvbbxkfonib rotb gs hosbm ln ungt cohlr klsts onm rbacbkts pbralrdonkb rbcotgvb tl

8: gnmustrgoc kluntrgbs.

Ibrdony Irbbkb Grbconm Zlrtuioc [pogn

?=:

?;:

?8:

   g  n   m  b  x

   g  n   m  b  x

??:

?::

7:

  ?  7  7  7

  8  :  :  :

  8  :  :  ?

  8  :  :  8

  8  :  :  ;

  8  :  :  =

  8  :  :   2

  8  :  :  1

  8  :  :   9

  8  :  :  6

  8  :  :  7

?=:

?;:

?8:

??:

?::

7:

  ?  7  7  7

  8  :  :  :

  8  :  :  ?

  8  :  :  8

  8  :  :  ;

  8  :  :  =

  8  :  :   2

  8  :  :  1

  8  :  :   9

  8  :  :  6

  8  :  :  7

o. Nldgnoc ungt cohlr klsts h. Xboc baabktgvb bxkfonib rotb

8/7/2019 Sovereign Debt and the Financial Crisis

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886  aovorl, cg, prombccg, onm von mllrn

Agiurb 7.1 Nbt Gnkldb Gnaclws gn tfb Kurrbnt Okklunt,?777‛8::6

[lurkb0 ODBKL motohosb (Burlpbon Klddgssgln).Nltb0 Nbt gnkldb lutaclws arld Grbconm la ?2 pbrkbnt la IMZ, ln ovbroib,

orb nlt mgspcoybm.

?777

;

8

  p  b  r  k  b  n   t  o  i  b  l   a   I   M   Z

?

:

‛:

‛8

‛;

‛=8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6

Ibrdony Irbbkb Zlrtuioc [pogn

strlni plcgky rbsplnsbs tl klpb wgtf gt (tohcb 7.?). Burlpbon ilvbrndbntsrbslrtbm tl outldotgk stohgcgzbrs onm stgducus pokeoibs tl portcy laasbt tfbsummbn klntroktgln gn prgvotb sbktlr mbdonm. ]fb corib gnkrbosb gn mbhtgn Grbconm wos kousbm coribcy hy tfb notglnocgzotgln la gts do`lr hones.= Bxponsglnory agskoc plcgkgbs bvbntuoccy cgdgtbm tfb mbkcgnb gn lutput onmbdpclydbnt hut cbat ilvbrndbnt wgtf mbht hurmbns la on unprbkbmbntbmdoingtumb (GDA 8:?:h).

]fb iclhoc bklnldgk krgsgs fos domb tfb Burl Orbo gdhoconkbs onmstrukturoc klnstrognts vgsghcb (Burlpbon Klddgssgln 8:?:). ]fb gssub la

agskoc sustognohgcgty, wfgkf fom hbbn mgskussbm gn rbcotgln tl tfb prlspbk-tgvb humibtory gdpcgkotglns la oigni plpucotglns, fos qugkecy kldb tl tfbalrb, hbkousb mbht stlkes summbncy rbokfbm vbry fgif cbvbcs onm tfb agskocklnslcgmotgln nbbmbm tl rbmukb humibt mbagkgts gs la sukf o skocb tfot gtrgses `blpormgzgni tfb bklnldgk rbklvbry. Bxtbrnoc sustognohgcgty fos ocslhbbn o klnkbrn, hbkousb gdplrtbrs/hlrrlwbrs nbbm tl strbnitfbn tfbgrkopokgty tl bxplrt onm suhstgtutb gdplrts alr bxplrts gn lrmbr tl hb ohcbtl sbrvgkb alrbgin prgvotb onm puhcgk mbhts wgtflut do`lr klrrbktglns gntfb kurrbnt dokrlbklnldgk trbnms.

_ubstglns ohlut tfb kopokgty la tfb puhcgk onm prgvotb sbktlrs tl sbrvgkbtfbgr mbhts rbdogn. Flw wgcc tfb hlrrlwbr kluntrgbs la tfb Burl Orborbpoy tfb mbhts tfby fovb gnkurrbm< Flw kon kldpbtgtgvbnbss hb rbstlrbmwgtfgn tfb dlnbtory ungln wgtflut ohonmlngni tfb burl onm rbslrtgni tlkurrbnky mbvocuotgln<

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 887

Zlcgky Kfoccbnibs Ofbom

Xbkbnt mbvbclpdbnts fovb rbvbocbm twl gdplrtont ospbkts la Burlpb‗skrgsgs. ]fb agrst gs tfb plcgtgkoc bklnldy klnsgmbrotglns klnstrogngni plcgkymbkgsglns ot tfb BR cbvbc. ]fb sbklnm gs tfb ossbssdbnt hy tfb Burl Orbokluntrgbs onm tfb Gntbrnotglnoc Dlnbtory Aunm (GDA) la tfb prlhcbdsaokgni kluntrgbs wgtf corib bxtbrnoc onm agskoc gdhoconkbs onm tfb plcgkygnstrudbnts ovogcohcb tl ommrbss tfbd.

]fb plcgtgkoc bklnldy ospbkts la Burlpb‗s krgsgs orb gnacubnkbm hy tfbhugcmup la krlss-hlrmbr prgvotb onm puhcgk mbhts tfot rbsuctbm arld prl-troktbm bxtbrnoc gdhoconkbs sgnkb ?777 onm hy tfb corib agskoc gdhoconkbstfot bdbribm murgni tfb 8::6‛:7 krgsgs. ]frbb stoebflcmbrs pcoy on oktgvbrlcb gn sfopgni tfb plcgky rbsplnsbs tl tfb agnonkgoc turdlgc0 mbht flcmbrs,

]ohcb 7.? Mbht [tlke gn [bcbktbm Burl Orbo Kluntrgbs, 8::6‛:7(pbrkbntoib la IMZ)

Kfonib gn mbht stlke

Kluntry/ybor Mbht stlkeZrgdorymbagkgt 

Outldotgkmbht

mynodgks

Ltfbrmbht-krbotgni

aclws

Ibrdony

8::6 11.: ‛8.9 :.7 8.9

8::7 9;.8 :.9 2.? ?.2

Irbbkb

8::6 77.8 ;.? ‛:.2 :.78::7 ??2.? 6.2 2.6 ?.1

Grbconm 

8::6 =;.7 2.7 8.2 ?:.1

8::7 1=.: ?8.8 9.: :.7

Zlrtuioc 

8::6 11.; ‛:.? ?.1 ?.8

8::7 91.6 1.1 ;.7 :.?[pogn

8::6 ;7.9 8.2 :.= :.9

8::7 2;.8 7.= ;.8 :.7

[lurkb0 ODBKL motohosb (Burlpbon Klddgssgln).Nltb0 Outldotgk mbht mynodgks kopturbs tfb baabkt la tfb gntbrbst rotb‛irlwtf mga-

abrbntgoc ln tfb kfonib gn tfb mbht tl IMZ rotgl. Ltfbr mbht-krbotgni aclws gnkcumbprgvotgzotgln rbkbgpts, hone rbkopgtocgzotgln, onm rbklingtgln la gdpcgkgt cgohgcgtgbs.

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8;:  aovorl, cg, prombccg, onm von mllrn

ilvbrndbnts la Burl Orbo mbhtlr kluntrgbs, onm ilvbrndbnts la tfb strln-ibr BR stotbs (Aronkb onm Ibrdony). Mbht flcmbrs forhlr mluhts ohlutBurlpbon mbhtlr kluntrgbs‗ kopokgty tl rbpoy tfbgr mbhts onm bxpbkt tfot

tfb strlnibr BR stotbs onm tfb GDA wgcc prlvgmb aunmgni tl mbhtlr klun-trgbs tfot kon hb usbm tl sbrvgkb mbht. Mbht flcmbrs, la klursb”bspbkgoccygnvbstlrs wfl hluift hlnms ot fgifbr prgkbs hbalrb tfb krgsgs”wlucm fovbtl ohslrh clssbs ga slcvbnky klnkbrns bvbntuoccy cbom tl mbht rbstrukturgni.Ilvbrndbnts la Burl Orbo mbhtlr kluntrgbs bxpbkt sldb agnonkgoc supplrtarld tfb ilvbrndbnts la tfb strlnibr BR stotbs onm tfb GDA sl tfot tfbykon ottbnuotb tfb klntroktglnory onm mbacotglnory baabkts la prlspbktgvbagskoc om`ustdbnts. ]fb ilvbrndbnts la tfb strlnibr BR stotbs (pbrfopsoclni wgtf tfb GDA) wlucm fovb tl prlvgmb agnonkgni tl ovlgm klntoigln

tl ltfbr kluntrgbs onm tl bnsurb tfb vgohgcgty la tfb Burl Orbo (Aronkb onmIbrdony orb nlt lncy tfb coribst bklnldgbs gn tfb Burl Orbo hut ocsl tfbfldb la hones fgifcy bxplsbm tl Burl Orbo mbhtlr kluntrgbs‗ cgohgcgtgbs).

Gn tfb mgoinlsgs la Burlpb‗s krgsgs, tfbrb gs klnsbnsus tfot Irbbkb, Grb-conm, Zlrtuioc, onm [pogn dust gdprlvb kldpbtgtgvbnbss onm klnslcgmotbpuhcgk agnonkbs gn lrmbr tl rbvbrsb gdhoconkbs onm rbstlrb bxtbrnoc onmagskoc sustognohgcgty. ]fb agskoc om`ustdbnt prlirods rbkbntcy suhdgttbmhy sbvbroc Burlpbon kluntrgbs suiibst tfot bxpbnmgturb-rbmukgni plcgkgbsorb pbrkbgvbm os opprlprgotb alr tfot purplsb. Gt gs ocsl opporbnt arldtfb spbkgagks la tfb BR/GDA rbskub pcon tfot tfb mgoinlsgs gs tfot mbhtlrkluntrgbs aokb o cgqugmgty prlhcbd nlt o slcvbnky prlhcbd. Rnmbr tfb pcon,tfb Burl Orbo mbhtlr ilvbrndbnts orb rbqugrbm tl om`ust humibt mbagkgts,onm tfby orb laabrbm o agnonkgoc hokestlp ga dorebts orb rbcuktont tl rlcclvbr doturgni mbhts lvbr tfb nbxt twl lr tfrbb ybors onm sbbe tl rbmukbbxplsurb tl ilvbrndbnt mbht (Xluhgng 8:?:). Aurtfbrdlrb, nl prlplsocsfovb hbbn omvonkbm alr rbstrukturgni puhcgk onm prgvotb sbktlr mbhts osport la tfb rbqugrbm om`ustdbnt.

Os rbstrukturgni bxgstgni mbht gs nlt odlni tfb plcgky lptglns unmbrklnsgmbrotgln, tfb rbmuktgln la mbhtlr kluntrgbs‗ alrbgin cgohgcgtgbs dust

hb okfgbvbm hy ibnbrotgni kurrbnt okklunt surpcusbs (tfot gs, gnkrbosgnibxplrts, kuttgni gdplrts, lr hltf), sl tfot tfb tromb surpcus bxkbbms nbtaoktlr poydbnts. Gn tfb sflrt onm dbmgud tbrds, Irbbkb, Grbconm, Zlrtu-ioc, onm [pogn klucm gdprlvb tfbgr kldpbtgtgvbnbss wgtf rbspbkt tl hltftfbgr Burl Orbo tromgni portnbrs onm tfb rbst la tfb wlrcm tfrluif o mbprb-kgotgln la tfb rboc bxkfonib rotb tfot prlvgmbs gnkbntgvbs tl rbocclkotbrbslurkbs arld tfb prlmuktgln la nlntromohcb illms tl tfb prlmuktgln labxplrtohcb illms. Os occ dbdhbrs la tfb Burl Orbo orb strlnicy klddgt-tbm tl dogntogngni tfb klddln kurrbnky, flwbvbr, o klrrbktgln la tfb rboc

bxkfonib rotb hy nldgnoc mbprbkgotgln gs bxkcumbm arld tfb plcgky lptglnsklnsgmbrbm. ]l gnkrbosb bxtbrnoc kldpbtgtgvbnbss, tfbsb kluntrgbs tfbrbalrbnbbm tl pursub klst mbacotgln, bspbkgoccy gn tfb tromohcb sbktlr.

]fb BR/GDA rbskub pcon gntbnms tl kut oiirbiotb mbdonm onm rbmukbprgkb onm woib gnacotgln la mbhtlr kluntrgbs, wfgkf gs gnstrudbntoc tl

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 8;?

okfgbvgni klst mbacotgln rbcotgvb tl tfbgr tromgni portnbrs. Os tfb Burl-pbon Kbntroc Hone dlnbtory plcgky bnsurbs tfot tfb Burl Orbo ovbroibgnacotgln hb aogrcy clw, klst mbacotgln wlucm rbqugrb om`ustgni kluntrgbs tl

unmbril prgkb onm woib mbacotgln.2 ]fb usb la bxpbnmgturb-rbmukgni plcgkgbs oclnb os o dbons tl gnmukb

nldgnoc mbacotgln bntogcs o nudhbr la rgses. Agrst, tl tfb bxtbnt tfot gtkldprbssbs agrds‗ prlagt dorigns onm rbmukbs tfb gnkbntgvb tl prlmukb,nldgnoc mbacotgln doy sclw bklnldgk rbklvbry onm bvbn prlclni tfbrbkbssgln. [bklnm, tfb aocc gn prgkbs onm woibs doy gnkrbosb tfb rboc hur-mbn la ilvbrndbnt onm prgvotb mbhts, bxokbrhotgni tfb prlhcbd la mbhtsustognohgcgty. ]fgrm, tfb tromgni portnbrs la Burl Orbo mbhtlr kluntrgbs,wfgkf fovb tfbdsbcvbs hbbn oaabktbm hy tfb krgsgs onm orb trygni tl kln-

slcgmotb tfbgr lwn agskoc mbagkgts, doy nlt hb wgccgni tl okklddlmotb onottbdpt hy Irbbkb, Grbconm, Zlrtuioc, onm [pogn tl prldltb bklnldgkrbklvbry hy bxponmgni bxplrts.

Xbkbnt Bpgslmbs la Mbacotglnory Om`ustdbnt

Yfot gs tfb cgebcgfllm la sukkbss la on om`ustdbnt strotbiy hosbm lnklntogngni mbdonm onm sbbegni nldgnoc mbacotgln< ]l sfbm cgift ln tfgsqubstgln, wb bxodgnb bpgslmbs la mbacotglnory om`ustdbnt gn tfb post tfrbbmbkombs onm ossbss tfbgr sukkbss rbklrm.

Mbacotgln gs o clw-prlhohgcgty bvbnt. Lut la =,1;8 onnuoc lhsbrvo-tglns la klnsudbr prgkb gnmbx (KZG) gnacotgln arld ?6; kluntrgbs lvbr?76:‛8::6 (wgtf sldb dgssgni moto), tfbrb orb lncy 8;8 lhsbrvotglns lambacotgln, `ust 2 pbrkbnt la tfb tltoc.

]fb sbvbrgty la o mbacotgln bpgslmb kon hb osslkgotbm wgtf tfb murotgln(dbosurbm hy tfb nudhbr la klnsbkutgvb ybors lvbr wfgkf tfb KZG mbkcgnbsklntgnuluscy) onm gntbnsgty (dbosurbm hy tfb kuducotbm mbkcgnb gn tfb KZGmurgni tflsb ybors) la tfb aocc gn prgkbs. Dlst bpgslmbs la mbacotgln orb

sflrt-cgvbm (lnb lr twl ybors)5 vbry abw bpgslmbs orb clni-cgvbm (tfrbb lrdlrb ybors la mbkcgnb gn tfb KZG) (agiurb 7.9).

Mbacotglnory bpgslmbs orb fbtbrlibnblus gn tbrds la gntbnsgty, onm tfbrbgs nl kcbor-kut rbcotgln hbtwbbn gntbnsgty onm murotgln (agiurb 7.6). ]fb?;8 sflrt-cgvbm bpgslmbs cbm tl on ovbroib okkuducotbm KZG mbkcgnb la=.? pbrkbnt5 tfb ?9 clni-cgvbm bpgslmbs sflwbm on ovbroib mbkcgnb la 9.:pbrkbnt. ]fb stbbpbst mbkcgnbs gn tfb KZG klrrbsplnm tl sldb sflrt-cgvbmmbacotglns.1 ]fb dbmgon la kuducotbm KZG mbkcgnbs mlbs gnkrbosb wgtf tfbbpgslmb murotgln, hut tfb sflrt-cgvbm bpgslmbs bxfghgt fgif mgspbrsgln gn

tbrds la gntbnsgty.]fb dlst gdplrtont bpgslmbs la prgkb mbacotgln lkkurrbm gn tfb KAOaronk zlnb gn tfb borcy ?77:s, gn sldb Bost Osgon kluntrgbs oatbr tfb ?779Osgon krgsgs, gn lgc bxplrtbrs gn tfb ?77:s onm 8:::s, onm gn Oribntgno gn?777‛8::?. Gn tfb kosbs la tfb KAO aronk zlnb onm Bost Osgon kluntrgbs,

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8;8  aovorl, cg, prombccg, onm von mllrn

Agiurb 7.9  Nudhbr onm Murotgln la Mbacotglnory Bpgslmbshbtwbbn ?76: onm 8::6

[lurkb0 Outflrs‗ kldpgcotgln, hosbm ln moto arld GDA 8:?:k.

?8: ?8:

?:: ?::

6: 6:

1: 1:

  n  u  d   h  b  r  l   a  b  p   g  s  l   m  b  s   h  y   m  u  r  o   t   g  l  n

   t  l   t  o   c  n  u  d   h  b  r  l   a  y  b  o  r  s   h  y   m  u  r  o   t   g  l  n

murotgln la bpgslmb gn ybors

=: =:

8: 8:

: :

? 8 ; = 2 1 9

nudhbr la mbacotglnory bpgslmbs hy murotgln (cbat oxgs)

tltoc murotgln la mbacotglnory bpgslmbs hy murotgln (rgift oxgs)

mbacotgln wos okkldpongbm hy on bklnldgk sclwmlwn lr rbkbssgln5 odlnilgc bxplrtbrs, tfb stotgstgkoc rbcotgln hbtwbbn mbacotgln onm bklnldgk oktgv-gty wos cbss kcbor.9

]fb KAO aronk zlnb gs la gntbrbst hbkousb, os gn tfb kosb la tfb Burl

Orbo, gt gnvlcvbs o ductgkluntry kbntroc hone onm agxbm porgtgbs wgtfrbspbkt tl o corib bklnldy (Aronkb). Dbmgon gnacotgln arld ?761 tl?77; wos :.; pbrkbnt o ybor (agiurb 7.7), hut sbvbroc kluntrgbs, gnkcumgniKfom, Kodbrlln, onm tfb Xbpuhcgk la Klnil, bxpbrgbnkbm mbacotgln gn?778‛7;. IMZ irlwtf sclwbm murgni tfb mbacotgln pbrglm, wgtf dbmgononnuoc irlwtf aoccgni tl ?.2 pbrkbnt, mlwn arld 8.; pbrkbnt gn ?769‛7?.]fb mbacotglnory bpgslmb bnmbm gn ?77=, wgtf o hoconkb la poydbntskrgsgs, o honegni krgsgs, onm o corib mbvocuotgln la tfb KAO aronk wgtfrbspbkt tl tfb Arbnkf aronk. ]fb mbvocuotgln la tfb kurrbnky bvbntuoccy

sukkbbmbm gn hllstgni bxplrts onm lutput os wbcc os stlppgni mbacotgln0gn ?772‛77 dbmgon onnuoc IMZ irlwtf wos =.1 pbrkbnt onm dbmgongnacotgln wos ??.9 pbrkbnt.

Mbacotglnory bpgslmbs gn Flni Elni [OX, Kfgno5 ]ogwon, Kfgno5 onm[gnioplrb lkkurrbm gn tfb oatbrdotf la tfb ?779 Osgon krgsgs. Alcclwgni

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 8;;

tfb corib mbvocuotglns hy Gnmlnbsgo, tfb Xbpuhcgk la Elrbo, Docoysgo, tfbZfgcgppgnbs, onm ]fogconm, Flni Elni [OX, Kfgno, onm Kfgno ebpt tfbgr

bxkfonib rotb agxbm wgtf rbspbkt tl tfb R.[. mlccor, wfbrbos [gnioplrbonm ]ogwon, Kfgno, occlwbm alr scgift kurrbnky mbprbkgotgln. Os o klnsb-qubnkb, tfbsb alur bklnldgbs clst kldpbtgtgvbnbss wgtf rbspbkt tl tfb ltfbrOsgon bklnldgbs onm suhsbqubntcy bxpbrgbnkbm o sbvbrb irlwtf sclwmlwn(tohcb 7.8).

Oribntgno unmbrwbnt tfrbb ybors la scgift mbacotgln hbalrb gts klccopsbgn 8::? (agiurb 7.?:). Murgni ?: ybors la agxbm porgty onm rboc bxkfonibrotb opprbkgotgln, kldpbtgtgvbnbss prlhcbds iromuoccy mbvbclpbm.6  Gn oklntbxt la prgkb mbacotgln, IMZ klntroktbm 8.7 pbrkbnt o ybor gn ?777‛

8::?, mlwn arld =.? pbrkbnt ovbroib onnuoc irlwtf gn ?77=‛76. Alcclw-gni o mbvocuotgln wgtf rbspbkt tl tfb R.[. mlccor, lutput klntroktbm ?:.7pbrkbnt gn 8::8, hut irlwtf rbsudbm tfbrboatbr, ovbroigni 6.6 pbrkbnt oybor gn 8::;‛:9. Gnacotgln okkbcbrotbm tl 81 pbrkbnt gn 8::8 onm ovbroibm7.= pbrkbnt gn tfb alcclwgni agvb ybors.

Agiurb 7.6 Kuducotgvb Mbacotgln pbr Bpgslmb

[lurkb0 Outflrs‗ kldpgcotgln, hosbm ln moto arld GDA 8:?:k.

: ? 8 ;

murotgln la bpgslmb gn ybors

= 2 1 9 6

kuducotgvb mbacotgln pbr bpgslmb hy murotgln

dbmgon alr bokf murotgln irlup

;2

;:

82

8:

  k  u  d  u   c  o   t   g  v  b   m  b   a   c  o   t   g  l  n  l   a  b  p   g  s  l   m  b

   (  p  b  r  k

  b  n   t   )   h  y   m  u  r  o   t   g  l  n

?2

?:

2

:

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8;=  aovorl, cg, prombccg, onm von mllrn

Agiurb 7.7 Gnacotgln onm Irlwtf gn tfb KAO Plnb,?76?‛8::2(onnuoc pbrkbntoib kfonib)

[lurkb0 Outflrs‗ kldpgcotgln, hosbm ln moto arld GDA 8:?:k.

  ?  7  6  ?

‛2

:

2

?:

?2

8:

  p  b  r  k  b  n   t

82

;:

;2

=:

  ?  7  6   2

  ?  7  6  7

  ?  7  7  ;

  ?  7  7   9

  8  :  :  ?

  8  :  :   2

dbmgon KAO Plnb gnacotgln

dbmgon KAO Plnb IMZ irlwtf

]ohcb 7.8 IMZ Irlwtf hbalrb onm murgni Mbacotglnory Bpgslmbsgn [bcbktbm Osgon Bklnldgbs(onnuoc pbrkbntoib kfonib)

Bklnldy

Onnuoc IMZ irlwtfhbalrb mbacotglnory

bpgslmbOnnuoc IMZ irlwtf

murgni mbacotgln bpgslmb

Kfgno ??.2 (?77;‛79) 9.9 (?776‛77)

Flni Elni [OX,Kfgno =.9 (?77;‛79) ?.1 (?776‛::;)

 @opon =.: (?76?‛‛7:),

?.8 (?77?‛76)

?.; (?777‛::2)

[gnioplrb 7.2 (?77;‛79) ;.2 (?776‛::8)

]ogwon, Kfgno 2.8 (?771‛8::?) 8.= (8::?‛:;)

[lurkb0 Outflrs‗ kldpgcotgln, hosbm ln moto arld GDA 8:?:k.

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 8;2

]wl gdpcgkotglns kon hb mrown arld tfbsb bpgslmbs. Agrst, tfbrb gs onbiotgvb rbcotgln hbtwbbn nldgnoc mbacotgln onm IMZ irlwtf, bspbkgoccygn kluntrgbs wgtf mbtbrglrotgni kldpbtgtgvbnbss, sukf os tfb KAO aronkhclk gn tfb borcy ?77:s, tfb Bost Osgon kluntrgbs tfot mgm nlt mbvocub gn?779, onm Oribntgno gn ?777‛8::?. Ot sldb plgnt, tfbsb kluntrgbs aokbmybors la cgdgtbm mbacotgln onm onbdgk irlwtf, wfgkf formcy gdprlvbmkldpbtgtgvbnbss onm ot hbst wos gnstrudbntoc gn rbmukgni bxtbrnoc gdhoc-onkbs hy klntroktgni gdplrts.

[bklnm, os prgkb onm woib mbacotgln mgm cgttcb tl rbslcvb kldpbtgtgvbnbssprlhcbds, tfb KAO aronk zlnb onm Oribntgno uctgdotbcy rbcgbm ln kurrbnkymbvocuotgln tl okkbcbrotb tfb bxtbrnoc om`ustdbnt.7 Kfonigni tfb bxkfonibrotb porgty gddbmgotbcy rbmukbm tfb vocub la mldbstgk klsts gn alrbgin kur-rbnky, tfus gnkrbosgni tfb prlagtohgcgty la bxplrt onm gdplrt-suhstgtutglnsbktlrs onm om`ustgni rboc woibs mlwnworm.

Klnkcumgni Xbdores

]fb rbkbnt agskoc onm rbagnonkgni mgaagkuctgbs gn Irbbkb”onm tl o cbssbrbxtbnt Grbconm, Zlrtuioc, onm [pogn”lrgignotbm arld corib onm prltroktbmkurrbnt okklunt mbagkgts murgni tfb post mbkomb. Gn Irbbkb onm Zlrtuioc,

Agiurb 7.?: Gnacotgln onm Irlwtf gn Oribntgno, ?772‛8::7(onnuoc pbrkbntoib kfonib)

[lurkb0 Outflrs‗ kldpgcotgln, hosbm ln moto arld GDA 8:?:k.

  ?  7  7   2

  ?  7  7   9

  ?  7  7  7

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gnacotgln rboc IMZ irlwtf

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8;1  aovorl, cg, prombccg, onm von mllrn

bxtbrnoc mbagkgts stbddbm arld o mrlp gn tfb prgvotb sovgnis rotb onm tfbbxponsgln la tfb puhcgk sbktlr5 gn Grbconm onm Zlrtuioc, tfby kodb arld ohlld gn prgvotb gnvbstdbnt. Murgni tfb sodb pbrglm, Ibrdony bxpbrgbnkbm

corib onm prltroktbm kurrbnt okklunt surpcusbs, lrgignotgni coribcy arldgnkrbosgni prgvotb sbktlr sovgnis onm mbkcgngni prgvotb sbktlr gnvbstdbnt.

O tflrluif unmbrstonmgni la tfb kosbs la Grbconm onm [pogn gs gdplrtontalr tfb donoibdbnt la tronsgtgln onm kopgtoc gnaclws gn dgmmcb-gnkldbkluntrgbs. Alr hltf kluntrgbs, tfb post mbkomb kon hb gntbrprbtbm os o pbrglmla klnvbribnkb, os wlucm hb prbmgktbm hy o sgdpcb [lclw dlmbc alr tfbBurl Orbo. Kopgtoc aclwbm tl Grbconm onm [pogn arld tfb rbst la tfb wlrcm,bspbkgoccy arld tfb rbst la tfb Burl Orbo, hbkousb tfb bxpbktbm rotb larbturn ln gnvbstdbnt wos fgifbr tfbrb tfon bcsbwfbrb onm tfb rgses wbrb

klnsgmbrbm dukf rbmukbm hy tfb klddln kurrbnky. Klddbrkgoc honesonm ltfbr agnonkgoc gnstgtutglns cbnt aunms tl prgvotb agrds tl mbvbclp nbwgnvbstdbnt prl`bkts (bspbkgoccy gn rbsgmbntgoc klnstruktgln). ]fb tronsgtglnos wbcc os tfb krgsgs wos cbm hy tfb prgvotb sbktlr. Hbkousb la tfb rgse tfottfb prgvotb sbktlr doy nlt hb ohcb tl bnignbbr o rbslcutgln la agnonkgoc mgs-putbs hy gtsbca, ilvbrndbnts fovb nlt cbat tfb om`ustdbnt tl dorebt alrkbs.Ilvbrndbnts dust stbp gn tl kllrmgnotb tfb dokrlbklnldgk om`ustdbntonm dbmgotb tfb occlkotgln la clssbs odlni bklnldgk oibnts.

]fgs gntbrprbtotgln la bvbnts fos sbvbroc gdpcgkotglns alr bklnldgkplcgky. Agrst, fgif onm prltroktbm kurrbnt okklunt mbagkgts doy okkbcbrotbtfb kclsgni la gnkldb iops okrlss kluntrgbs, hut tfby ocsl krbotb fuibom`ustdbnt rgses. ]fb oriudbnt tfot o prgvotb sbktlr‛ibnbrotbm kurrbntokklunt mbagkgt sflucm nlt hb o klnkbrn alr plcgky doebrs gs gnklrrbkt. [bk-lnm, gntbrnotglnoc hlrrlwgni fos bdhbmmbm on bxtbrnoc baabkt tfot prlh-ohcy mbpbnms ln tfb sgzb la prgvotb sbktlr hlrrlwgni onm gs nlt toebn gntlokklunt hy prgvotb portgbs wfbn sbttcgni tfbgr lpbrotglns. Agnonkgoc onmkopgtoc gnaclws sflucm nlt bskopb arld sldb alrd la rbiucotgln rbqugr-gni portgbs tl gntbrnocgzb sukf bxtbrnocgtgbs. ]fgrm, lnkb o prlhcbd la homquocgty la cbnmgni aclws lr plrtalcgl ossbts gs gmbntgagbm, plstplngni tfb

rbslcutgln la tfb prlhcbd, gnkcumgni tfb occlkotgln la tfb klrrbsplnmgniclssbs, gs o wbcaorb-rbmukgni strotbiy, hbkousb gnbrtgo kclis tfb aunktgln-gni la tfb krbmgt systbd onm mlbs nlt bcgdgnotb rgses. ]fb kfoccbnib gs tlopplrtgln tfb bxgstgni clssbs onm dlvb alrworm.

Gn Irbbkb, Grbconm, Zlrtuioc, onm [pogn, prlmuktgvgty-om`ustbm cohlrklsts rlsb stbomgcy oatbr ?777. ]libtfbr wgtf tfb opprbkgotgln la tfb burloatbr 8::8, tfgs trbnm fodpbrbm bxplrts tl tfb rbst la tfb wlrcm onm wgtfgntfb Burl Orbo. Gn klntrost, Ibrdony‗s prlmuktgvgty-om`ustbm cohlr klstsrbdognbm klnstont lvbr tfb mbkomb, prlvgmgni supplrt tl o stbomy gnkrbosb

gn tfb bxplrt sforb gn IMZ. Hrgnigni mlwn prlmuktgln klsts gn tfb klntbxtla o agxbm bxkfonib rotb gs o do`lr kfoccbnib, wfgkf dlst kluntrgbs bxod-gnbm gn tfgs kfoptbr mgm nlt dbbt. Ibrdony wos ohcb tl dogntogn o tgiftcgne hbtwbbn cohlr prlmuktgvgty onm cohlr klsts gn tfb post mbkomb. Irbbkb,Grbconm, Zlrtuioc, onm [pogn sflucm ml tfb sodb gn tfb auturb.

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 8;9 

Onnbx0 Mbkldplsgtgln la Irlwtf hy [lurkbs laOiirbiotb Mbdonm gn [bcbktbm Burl Orbo Kluntrgbs

Agiurb 7O.? Mbkldplsgtgln la Irlwtf hy [lurkbs laOiirbiotb Mbdonm gn [bcbktbm Burl Orbo Kluntrgbs(pbrkbntoib la tltoc)

[lurkb0 Outflrs, hosbm ln moto arld GDA 8:?:o.Nltb0 Xboc IMZ irlwtf gs gn onnuoc pbrkbntoib kfonib. Occ ltfbr vorgohcbs

orb gn pbrkbntoib plgnt klntrghutglns tl rboc IMZ irlwtf.

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‛82

o. Ibrdony h. Irbbkb

k. Grbconm m. Zlrtuioc

gdplrts la illms onm sbrvgkbs (‛) bxplrts la illms onm sbrvgkbs

irlss kopgtoc alrdotgln puhcgk klnsudptgln

prgvotb klnsudptgln rboc IMZ irlwtf (pbrkbnt)

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8;6  aovorl, cg, prombccg, onm von mllrn

Nltbs

  ?. Ibrdony gs tfb coribst bklnldy gn tfb Burl Orbo. Gts IMZ rbprbsbnts81.7 pbrkbnt la Burl Orbo IMZ. Zlrtuioc (?.6 pbrkbnt), Grbconm (8.: pbrkbnt),onm Irbbkb (8.1 pbrkbnt) orb odlni tfb sdoccbst kluntrgbs (ODBKL motohosbUBurlpbon KlddgssglnT).

  8. Arld o nltglnoc cbvbc la ?::, tfb nbt alrbgin ossbt plsgtgln abcc tl 82 gn Zlrtu-ioc, ;; gn Irbbkb, onm 2? gn [pogn (ODBKL motohosb UBurlpbon KlddgssglnT).

  ;. Ibrdony laabrs o dgrrlr gdoib0 nbt poydbnts la 8.? pbrkbnt la IMZ gn?777 turnbm gntl nbt rbkbgpts la :.6 pbrkbnt gn 8::9 (ODBKL motohosb UBurlpbonKlddgssglnT).

  =. Gn 8::6‛:7 gdplrtgni/hlrrlwgni kluntrgbs unmbrwbnt o mrodotgk om`ust-dbnt gn tfb prgvotb sbktlr hoconkb, mrgvbn coribcy hy o klccopsb gn prgvotb gnvbst-dbnt onm klnsudptgln bxpbnmgturb. Os o prlplrtgln la IMZ, prgvotb hoconkbs

klntroktbm 6.8 pbrkbntoib plgnts gn Irbbkb, 2.9 pbrkbntoib plgnts gn Zlrtuioc, ?9.8pbrkbntoib plgnts gn [pogn, onm ?=.: pbrkbntoib plgnts gn Grbconm. Gn Ibrdony, hyklntrost, tfb prgvotb sbktlr surpcus rbdognbm stohcb, ot ohlut 9 pbrkbnt la IMZ,wgtf `ust o scgift mbkcgnb gn prgvotb bxpbnmgturb (ODBKL motohosb UBurlpbonKlddgssglnT).

 2. Gnkrbosgni kldpbtgtgvbnbss wgtf rbspbkt tl tromgni portnbrs lutsgmb tfbBurl Orbo wlucm prlhohcy hlgc mlwn tl runngni bxponsglnory dlnbtory plcg-kgbs ogdbm ot burl mbprbkgotgln. [ukf plcgkgbs wlucm hb fbcpauc alr cbnmbrs/ bxplrtbrs ga Burl Orbo kluntrgbs stuke tl on bxplrt-cbm rbklvbry onm irlwtfstrotbiy wfgcb rblrgbntgni bxplrts tl ovlgm rbprlmukgni bxtbrnoc gdhoconkbswgtfgn tfb Burl Orbo. [ukf o strotbiy wlucm nbvbrtfbcbss aokb on unaovlrohcb

iclhoc bnvgrlndbnt.1. ]fb coribst kuducotgvb mbacotglns lkkurrbm gn [odlo (;8 pbrkbnt gn ?762),Kodhlmgo (;? pbrkbnt gn ?769), Bquotlrgoc Iugnbo (87 pbrkbnt gn ?761‛69), ColZMX (81 pbrkbnt gn ?77:), Cghyo (88 pbrkbnt gn 8:::‛:;), onm tfb Xbpuhcgk laKlnil (8? pbrkbnt gn ?766‛67). Gn Bquotlrgoc Iugnbo onm tfb Xbpuhcgk la Klnil,mbacotgln klgnkgmbm wgtf o 8: pbrkbnt opprbkgotgln la tfb KAO aronk oiognst tfbR.[. mlccor. ]fbsb corib mbacotglnory mrlps orb uncgebcy tl hb rbcbvont rbabrbnkbs alrtfb Burl Orbo kluntrgbs.

  9. ]fb kforoktbrgstgks la lgc-bxplrtgni bklnldgbs orb formcy kldporohcb wgtftflsb la Burl Orbo kluntrgbs onm tfus ml nlt klnstgtutb rbcbvont rbabrbnkbs. Lgc-bxplrtgni kluntrgbs suaabrbm mbacotgln bpgslmbs osslkgotbm wgtf aoccgni lgc prgkbs gn?771‛77 onm 8:::‛:8 (Hofrogn gn ?771‛8::8, [oumg Orohgo gn ?779‛8::?, onmLdon gn 8:::‛:8). Gn tfbsb kluntgbs, mbacotgln wos nlt okkldpongbm hy o sbvbrbsclwmlwn gn IMZ irlwtf. Gn Hofrogn, alr gnstonkb, tfb agvb-ybor ovbroib onnuocIMZ irlwtf rotb abcc arld 2.: pbrkbnt hbalrb tfb mbacotgln bpgslmb tl =.2 pbrkbnt oybor murgni tfb bpgslmb. Hltf Ldon onm [oumg Orohgo oktuoccy irbw aostbr murgnitfb mbacotgln tfon murgni tfb agvb ybors prbkbmgni gt.

6. Kldpbtgtgvbnbss clssbs gn bxplrt onm gdplrt-suhstgtutgln sbktlrs latbn orgsbwfbn o agxbm bxkfonib rotb orronibdbnt gs omlptbm onm rbcotgvbcy fgif mldbstgkgnacotgln dotbrgocgzbs oatbrworm lr porgty gs agxbm ot o cbvbc tfot gdpcgbs rboc dgs-ocgindbnt (tfot gs, rboc lvbrvocuotgln). [ldb lhsbrvbrs fovb oriubm tfot rboc lvbr-vocuotgln doy fovb hbbn tfb kosb gn dony Burlpbon kluntrgbs, wfgkf doy fovbkflsbn wrlni rboc porgtgbs wfbn tfby omlptbm tfb burl, mbspgtb tfb krlss-kluntry

gnacotgln mgaabrbntgocs lhsbrvbm oatbrworm wgtfgn tfb Burl Orbo.  7. Gn Oribntgno onm tfb KAO aronk zlnb kluntrgbs, mbacotgln wos okkldpongbm

hy hone runs, gntbrnotglnoc krbmgt rotglngni, onm kopgtoc acgift.

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burlpb‗s krgsgs0 lrgigns onm plcgky kfoccbnibs 8;7

Xbabrbnkbs

Burlpbon Klddgssgln. 8:?:. –Zuhcgk Agnonkbs gn BDR08:?:.— Mgrbktlrotb Ibn-broc alr Bklnldgk onm Agnonkgoc Oaaogrs, Burlpbon Bklnldy, Nl. =, Hrussbcs.

Irls, Mongbc. 8:?:. –Om`ustdbnt Mgaagkuctgbs gn tfb IGZ[W Kcuh.— KBZ[ YlregniMlkudbnt ;81, Kbntrb alr Bklnldgk Zlcgky [tumgbs, Clnmln.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8:?:o. Mgrbktgln la ]romb [totgstgks. Yosf-gnitln, MK0 Gntbrnotglnoc Dlnbtory Aunm.

”””. 8:?:h. –Novgiotgni tfb Agskoc Kfoccbnibs Ofbom.— Agskoc Dlngtlr (Doy).Yosfgnitln, MK0 Gntbrnotglnoc Dlnbtory Aunm.

”””. 8:?:k. Ylrcm Bklnldgk Lutclle Oprgc 8:?:. Yosfgnitln, MK0 Gntbrno-tglnoc Dlnbtory Aunm.

Xluhgng, Nlurgbc. 8:?:. –Lrmbr arld Kfols0 O Xbstrukturgni Zcon alr Irbbkb‗sZuhcgk Mbht.— Agnonkgoc ]gdbs, @unb 86.

Ylrcm Hone. 8::7. Ylrcm Mbvbclpdbnt Xbplrt . Yosfgnitln, MK0 Ylrcm Hone.

”””. 8:?:. Ybbecy Iclhoc Bklnldgk Hrgba  =7, Doy ?;. Mbvbclpdbnt ZrlspbktsIrlup, Ylrcm Hone, Yosfgnitln, MK.

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Zort GGG

Mbht Xbstrukturgni

Dbkfongsds0 Cbsslnsonm Hbylnm

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8=;

?:

Ovlgmgni Ovlgmohcb Mbht Krgsbs0

Cbsslns arld Xbkbnt MbaouctsWubabn Cg, Xlmrgil Lcgvorbs-Kodgnoc,onm Ril Zongzzo

 ]fgs kfoptbr bxodgnbs wfbtfbr tfb rbkbnt bxpbrgbnkb wgtf bxtbrnochlrrlwgni onm slvbrbgin mbaouct ygbcms ony cbsslns ln tfb typb laplcgkgbs tfot kon hb omlptbm tl rbmukb tfb prlhohgcgty la mbht krgsbs.

]fb corib-skocb hogcluts ot tfb borcy stoib la tfb krgsgs wbrb unprbkbmbntbmonm doy fovb mbcoybm tfb dongabstotgln la tfb gdpokt la tfb krgsgs ln tfbbxtbrnoc mbht la sbvbroc mbvbclpgni kluntrgbs. Alr tfgs rbosln, wb usb alurkosb stumgbs la rbkbnt mbaouct bpgslmbs, wfgkf fgifcgift tfb gdplrtonkb labxtbrnoc sflkes, lvbrhlrrlwgni, onm tfb cbioc tbkfngqubs usbm tl rbstruk-turb lutstonmgni mbht.

]fb kfoptbr gs lriongzbm os alcclws. ]fb agrst sbktgln prlvgmbs o acosf

rbvgbw la tfb cbioc onm bklnldgk cgtbroturb ln slvbrbgin mbht onm slv-brbgin mbaouct. ]fb sbklnm sbktgln clles ot flw tfb rbkbnt agnonkgoc onmbklnldgk krgsgs oaabktbm tfb bvlcutgln la bxtbrnoc mbht gn o sodpcb la21 mbvbclpgni onm bdbrigni bklnldgbs. ]fb bvgmbnkb sflws tfot mbhtcbvbcs fovb gnkrbosbm hut nlt bxpclmbm, plssghcy hbkousb tfb gnkrbosbmrgse ovbrsgln la gntbrnotglnoc gnvbstlrs prbvbntbm sldb clw-gnkldbkluntrgbs tfot doy fovb wontbm tl hlrrlw dlrb arld mlgni sl. ]fbtfgrm sbktgln prlvgmbs kosb stumy bvgmbnkb ln Hbcgzb, Bkuomlr, Irbnomo,onm tfb [bykfbccbs. ]fb cost twl sbktglns mgskuss plcgky lptglns alr dgtg-

iotgni tfb prlhohgcgty la auturb mbht krgsbs onm prlvgmb sldb klnkcumgnirbdores.

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8==  cg, lcgvorbs-kodgnoc, onm pongzzo

]fb Cow onm Bklnldgks la [lvbrbgin Mbht

[lvbrbgin mbht gs mgaabrbnt arld prgvotb mbht, hbkousb tfbrb gs nl struk-turbm opprlokf alr donoigni slvbrbgin mbaoucts lr on baabktgvb prlkbmurbalr bnalrkgni slvbrbgin mbht klntrokts. [lvbrbgin krbmgtlrs fovb cgdgtbmcbioc rbklursb alr twl dogn rboslns. ]fb agrst rbcotbs tl tfb prgnkgpcb laslvbrbgin gddungty, wfgkf stotbs tfot o slvbrbgin konnlt hb subm gn alr-bgin klurts wgtflut gts klnsbnt uncbss gt fos suhdgttbm tl `urgsmgktgln lr gtaoccs wgtfgn on bxkbptgln (alr bxodpcb, klddbrkgoc oktgvgty). ]fb sbklnmfos tl ml wgtf tfb aokt tfot bvbn wfbn krbmgtlrs lhtogn o aovlrohcb ruc-gni, slvbrbgin mbht klntrokts rbdogn mgaagkuct tl bnalrkb, hbkousb krbmgtlrsproktgkoccy konnlt ottokf ossbts clkotbm wgtfgn tfb hlrmbrs la tfb mbaouct-gni kluntry. ]fb cbioc cgtbroturb ln slvbrbgin mbht klnkurs tfot o slvbrbginstotb konnlt hb mbkcorbm gnslcvbnt.

Igvbn tfot klntrokts konnlt hb bosgcy bnalrkbm, wfy ml slvbrbginsrbpoy< (Octbrnotgvbcy, wfy ml cbnmbrs cbnm<) Gt dust hb tfot rbpoygni gscbss klstcy tfon mbaouctgni. La klursb, wb enlw wfot tfb klst la rbpoygnigs (tfb vocub la tfb clon), hut wfot gs tfb klst la mbaouct< O hbttbr unmbr-stonmgni la tfb klsts la mbaoucts gs o nbkbssory klnmgtgln alr rbalrdgni tfbgntbrnotglnoc agnonkgoc orkfgtbkturb onm mbvgsgni plcgkgbs tfot kon `lgntcyrbmukb tfb prbvocbnkb onm tfb klsts la slvbrbgin mbaouct.

]fb bklnldgk cgtbroturb ln slvbrbgin mbht fos alkusbm ln tfb rbputo-tglnoc onm tromb klsts la mbaoucts. Bklnldgk dlmbcs tfot alkus ln rbputo-tglnoc klsts ossudb tfot mbaoucts cbom tl bgtfbr fgifbr hlrrlwgni klsts lrdlrb cgdgtbm okkbss tl gntbrnotglnoc agnonkgoc dorebts onm, gn tfb bxtrbdbkosb, tl pbrdonbnt bxkcusgln arld tfbsb dorebts (Botln onm Ibrslvgtz?76?). Dlmbcs tfot bdpfosgzb tromb klsts oriub tfot mbaouctbrs wgcc suaabro rbmuktgln gn gntbrnotglnoc tromb, bgtfbr os o klnsbqubnkb la mgrbkt trombsonktglns (Huclw onm Xlilaa ?7675 Mäoz-Ocb`onmrl ?76;) lr hbkousb lacoke la tromb krbmgt. Octfluif tfbrb orb sbvbroc tfblrbtgkoc prlhcbds wgtf

tfbsb dlmbcs (sbb Zongzzo, [turzbnbiibr, onm Pbttbcdbybr 8::7 alr o sur-vby la tfb cgtbroturb), tfb rboc gssub gs tfot tfbsb ossudptglns ml nlt sbbdtl agt tfb rboc wlrcm. Xbputotglnoc klsts oppbor tl hb sflrt-cgvbm (Hlrbnsz-tbgn onm Zongzzo 8::7), onm, octfluif tfbrb gs sldb bvgmbnkb tfot mbaouctsoaabkt tromb (Xlsb 8::2), tfbrb gs nl bvgmbnkb la alrdoc tromb sonktglns(ot cbost gn rbkbnt tgdbs) lr o strlni kousoc nbxus arld mbaouct tl trombtfrluif tromb krbmgt (Hlrbnsztbgn onm Zongzzo 8::7).? 

O prldgsgni kcoss la tfblrbtgkoc dlmbcs dlvbs tfb ottbntgln arld tfboktglns la nlnrbsgmbnts tl tfb mldbstgk baabkts la tfb mbaouct. ]fbsb dlm-bcs ossudb tfot tfb ilvbrndbnt gs klntbdplronbluscy gntbroktgni wgtf

sbvbroc oktlrs wfl orb unkbrtogn ohlut wfbtfbr tfby orb mbocgni wgtf o–illm— lr –hom— typb la ilvbrndbnt. O mbaouct klucm rbvboc tfb –trub—typb la tfb ilvbrndbnt onm dlmgay tfb oktglns, nlt la tfb bxtbrnoc krbmg-tlrs hut la occ oktlrs wfl orb stgcc bnioigni wgtf tfb ilvbrndbnt (Klcb onm

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ovlgmgni ovlgmohcb mbht krgsbs 8=2

Ebflb ?776). Lnb prlhcbd wgtf tfgs gntbrprbtotgln gs tfot cgdgtbm klstsla mbaouct orb lhsbrvbm, bvbn wfbn tfb alkus gs ln tfb bvlcutgln la IMZirlwtf (Hbn`odgn onm Yrgift 8::65 Cbvy-Wbyotg onm Zongzzo alrtfkld-

gni5 ]ldz onm Yrgift 8::9).Gt gs plssghcb tfot lncy strotbigk mbaoucts (tfot gs, mbaoucts tfot klucm bos-

gcy fovb hbbn ovlgmbm) korry o fgif klst. Mbaoucts kousbm hy trub gnohgcgtytl poy orb unovlgmohcb. ]fbrbalrb, tfby ml nlt prlvgmb ony sginoc ln tfbtypb la ilvbrndbnt onm ml nlt korry o corib klst (Irlssdon onm QonFuyke ?766). Enlwgni tfb fgif klst la strotbigk mbaouct, kluntrgbs wgccovlgm tfbd. ]l tfb klntrory, tfby doy bvbn poy o corib klst tl plstplnb onbkbssory mbaouct gn lrmbr tl sginoc tl occ gntbrbstbm portgbs tfot tfb mbaouctwos gnmbbm unovlgmohcb (Hlrbnsztbgn onm Zongzzo 8::75 Cbvy-Wbyotg onm

Zongzzo alrtfkldgni).]fb cbioc cgtbroturb fos alkusbm dogncy ln tfb rbstrukturgni ospbkts

la slvbrbgin mbht. Hrlomcy spboegni, slvbrbgin mbht rbstrukturgni konhb unmbrstllm os tfb dbkfongsd usbm hy o slvbrbgin stotb tl prbvbnt lrrbslcvb mbht gssubs onm okfgbvb mbht sustognohgcgty cbvbcs. Xbstrukturgnifos twl dogn ospbkts0 prlkbmuroc onm suhstontgoc. ]fb prlkbmuroc ospbktalkusbs ln tfb woy gn wfgkf tfb rbstrukturgni sflucm hb pbralrdbm (tfot gs,gts orkfgtbkturb)5 tfb suhstontgoc ospbkt gs tfb oktuoc rbstrukturgni la mbht,wfgkf nlrdoccy gnvlcvbs kfonigni odlrtgzotgln skfbmucbs onm wrgtgni laatfb mbht prgnkgpoc (Lcgvorbs-Kodgnoc 8:?:).

]fbrb gs wgmbsprbom oirbbdbnt alr o rbvodpbm slvbrbgin mbht-rbstrukturgni prlkbss alr prgvotb kcogds. ]fbrb gs mgsoirbbdbnt lvbrwfot tfb oktuoc prlkbss sflucm hb (Orlro onm Lcgvorbs-Kodgnoc 8::;)0klurt-supbrvgsbm wlreluts gn o honeruptky-typb prlkbbmgni lr o purbcyvlcuntory hlnm wlrelut (Hukffbgt onm Iucotg 8::8). Zlcgky doebrsnbbm tl sbcbkt tfb dlmbc tfot wgcc prlvgmb lrmbrcy rbstrukturgni wfgcbsoabiuormgni tfb rgifts la hltf krbmgtlrs onm tfb mbhtlr.

]fb kurrbnt mbhotb gs hbtwbbn tfb bstohcgsfdbnt la on gntbrnotglnochoneruptky rbigdb onm tfb usb la vlcuntory onm klntroktuoc orronibdbnts

sukf os bxkfonib laabrs, klccbktgvb oktgln kcousbs, onm ltfbr mbvgkbs. ]fbGntbrnotglnoc Dlnbtory Aunm (GDA) hbcgbvbs tfot tfb sklpb la sldb latfb vlcuntory dbkfongsds usbm gn tfb post fos hbbn irbotcy mgdgngsfbm,portgkucorcy os o rbsuct la tfb sfgat arld synmgkotbm hone clons tl hlnms gnslvbrbgin hlrrlwgni. ]fgs sfgat fos cbm tl o wgmbr mgspbrsgln la krbmgtlrsonm mbhtlrs onm o coribr vorgbty la mbht klntrokts5 gt fos hbbn osslkgotbmwgtf tfb irlwgni sprbom onm gntbirotgln la kopgtoc dorebts onm gnnlvo-tglns gn slurkgni alrbgin kopgtoc (RNK]OM 8::?).

Mbhts mlkudbntbm gn synmgkotbm clons orb rbcotgvbcy bosy tl rbstrukturb,

hbkousb tfby orb rbstrukturbm wgtfgn tfb arodbwlre la tfb Clnmln Kcuh.8

 Gn tfb cotb ?77:s (onm gn tfb woeb la tfb 8::?‛:8 Oribntgnb krgsgs), dlstlhsbrvbrs tfluift tfot hlnmbm mbht wlucm fovb hbbn dukf dlrb mga-agkuct tl rbstrukturb tfon synmgkotbm clons. ]fbsb wlrrgbs wbrb mrgvbn hytfb aokt tfot hlnms orb fbcm hy mgaabrbnt typbs la krbmgtlrs bnkldpossgni

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8=1  cg, lcgvorbs-kodgnoc, onm pongzzo

mgaabrbnt gntbrbsts (tfb ductgcbigtgdoky prlhcbd). Gt wos ocsl tfluift tfottfb rbstrukturgni la hlnmbm mbht wlucm fovb hbbn fodpbrbm hy tfb prbs-bnkb la dony lutstonmgni sbrgbs suh`bkt tl mgaabrbnt oppcgkohcb cows (tfb

oppcgkohcb cow gs rbcbvont wfbn o slvbrbgin gs unmbr mgstrbss hbkousb tfbmbhtlr‗s octbrnotgvbs mbpbnm ln tfb oppcgkohcb cow).; Gt turnbm lut tfot tfgswos nlt tfb kosb. Bvbn tfb Oribntgnb mbht bxkfonib, wgtf on okkbptonkbrotb la 91 pbrkbnt gn tfb agrst bxkfonib laabr, bnmbm up hbgni dlrb sukkbss-auc tfon dony bxpbktbm.= 

]fb dbtflm onm tbkfngqubs usbm alr rbstrukturgni slvbrbgin mbht sforbsbvbroc sgdgcorgtgbs wgtf klrplrotb mbht rbstrukturgni. ]fb dlst sgingagkontmgaabrbnkb gs tfot hltf portgbs gn o klrplrotb rbstrukturgni”mbhtlr onmkrbmgtlr”enlw tfot upln aogcurb la tfb mbht-rbstrukturgni prlkbss tfbrb gs o

cost rbslrt (honeruptky), wfgkf gs nlt ovogcohcb gn tfb kosb la o slvbrbgin.

]fb Bvlcutgln la Bxtbrnoc Mbht murgni tfb Krgsgs

]fb agnonkgoc onm bklnldgk krgsgs gingtbm hy tfb klccopsb la tfb flusgnidorebt gn tfb Rngtbm [totbs doy bnm up fovgni sbvbrb rbpbrkussglns lnclni-tbrd mbht sustognohgcgty gn mbvbclpgni onm bdbrigni dorebt kluntrgbs(Cg 8:?:). ]l kopturb tfb rbkbnt bvlcutgln la bxtbrnoc mbht gn mbvbclpgnikluntrgbs onm tronsgtgln bklnldgbs, wb mrow ln gnalrdotgln arld tfbYlrcm Hone‗s _uortbrcy Bxtbrnoc Mbht [totgstgks (_BM[), wfgkf, ot tfbtgdb la wrgtgni, rbplrtbm gnalrdotgln ln bxtbrnoc mbht tfrluif tfb tfgrmquortbr la 8::7.

Octfluif tfgs kfoptbr alkusbs ln slvbrbgin mbht onm slvbrbgin mbaouct,gt mgskussbs tfb bvlcutgln la puhcgk, puhcgkcy iuorontbbm, onm tltoc bxtbrnocmbht (puhcgk onm prgvotb). ]fbrb orb twl rboslns alr klvbrgni tltoc bxtbr-noc mbht. ]fb agrst gs tfot sbvbroc krgsbs fovb nlw kldpcbtbcy mgskrbmgtbmtfb Cowsln-Xlhgkfbe mlktrgnb tfot lncy puhcgk bxtbrnoc mbht kon cbom tlklstcy mbht krgsbs.2 ]fb kurrbnt krgsgs gs ̀ ust lnb la dony bxodpcbs sflwgni

tfot prgvotb mbht (bspbkgoccy tfot la hones) rbprbsbnts o corib klntgnibntcgohgcgty alr tfb puhcgk sbktlr. ]fgs klntgnibnt cgohgcgty hbkldbs bxpcgkgt osslln os tfb honegni sbktlr bntbrs gntl krgsgs. ]fb sbklnm rbosln alr alkus-gni ln tltoc bxtbrnoc mbht gs tfot puhcgkcy ovogcohcb moto ml nlt mgstgniugsfhbtwbbn puhcgk onm puhcgkcy iuorontbbm (ZZI) mbht onm mbht tfot gs auccylwbm hy prgvotb krbmgtlrs.1 

]fb ovbroib tltoc bxtbrnoc mbht tl IMZ rotgl gn tfb 21 mbvbclpgnikluntrgbs onm tronsgtgln bklnldgbs klvbrbm hy tfb _BM[ gnkrbosbm hydlrb tfon 6 pbrkbntoib plgnts hbtwbbn 8::6 onm 8::7 (tohcb ?:.?).9 ]fb

gnkrbosb gs gn klntrost wgtf tfb trbnm lvbr tfb prbvglus alur ybors, wfbnbxtbrnoc mbht (hltf tltoc onm ZZI) mbkrbosbm hy dlrb tfon 8: pbrkbnt.]fb sodpcb la kluntrgbs klvbrbm hy tfb _BM[ gs sdoccbr tfon tfot

nlrdoccy usbm tl mbskrghb tfb bxtbrnoc mbht la mbvbclpgni kluntrgbs onmtronsgtgln bklnldgbs.6 Kluntrgbs gnkcumbm gn tfb _BM[ fovb ovbroib cbvbcs

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8  =   9  

]ohcb ?:.? [uddory [totgstgks

Qorgohcb Nudhbr la lhsbrvotglns Dbon [tonmorm mbvgo

Occ kluntrgbs wgtf moto tfrluif 8::7

]ltoc bxtbrnoc mbht/IMZ 8::9 _; 21 :.=;6 :.868

ZZI bxtbrnoc mbht/IMZ 8::9 _; 2; :.?1? :.?2=

]ltoc bxtbrnoc mbht/IMZ 8::7 _; 21 :.28: :.;77

ZZI bxtbrnoc mbht/IMZ 8::7 _; 2; :.?78 :.?=1

Irlwtf gn bxtbrnoc mbht 8::9‛:7 21 :.:68 :.?19

Irlwtf gn ZZI 8::9‛:7 2; :.:81 :.:6:

Irlwtf gn bxtbrnoc mbht 8::;‛:9 =1 ‛:.88? :.;?6Irlwtf gn ZZI 8::;‛:9 =1 ‛:.8;: :.8;?

Iclhoc Mbvbclpdbnt Agnonkb moto alr 8::9 

]ltoc bxtbrnoc mbht/IMZ 8::9 IMA ?8; :.2?7 :.2;?

ZZI bxtbrnoc mbht/IMZ 8::9 IMA ?8; :.;;1 :.;;=

Kluntrgbs gn Burlpb onm Kbntroc Osgo wgtf moto tfrluif 8::7

]ltoc bxtbrnoc mbht/IMZ 8::9 _; 8? :.1=: :.;:9

ZZI bxtbrnoc mbht/IMZ 8::9 _; 8? :.?=6 :.??7]ltoc bxtbrnoc mbht/IMZ 8::7 _; 8? :.692 :.=;8

ZZI bxtbrnoc mbht/IMZ 8::7 _; 8? :.882 :.?=6

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8  =   6  

Irlwtf gn bxtbrnoc mbht 8::9‛:7 8? :.8;2 :.?9=

Irlwtf gn ZZI 8::9‛:7 8? :.:99 :.:7:

Irlwtf gn bxtbrnoc mbht 8::;‛:9 ?2 ‛:.::= :.891

Irlwtf gn ZZI 8::;‛:9 ?2 ‛:.?;= :.:71

Clw- onm clwbr-dgmmcb-gnkldb kluntrgbs wgtf moto tfrluif 8::7

]ltoc bxtbrnoc mbht/IMZ 8::9 _; 81 :.;;2 :.?71

ZZI bxtbrnoc mbht/IMZ 8::9 _; 8= :.?7: :.?;1]ltoc bxtbrnoc mbht/IMZ 8::7 _; 81 :.;98 :.8=8

ZZI bxtbrnoc mbht/IMZ 8::7 _; 8= :.8?9 :.?;=

Irlwtf gn bxtbrnoc mbht 8::9‛:7 81 :.:;9 :.??=

Irlwtf gn ZZI 8::9‛:7 8= :.:8= :.:1=

Irlwtf gn bxtbrnoc mbht 8::;‛:9 81 ‛:.;=: :.897

Irlwtf gn ZZI 8::;‛:9 81 ‛:.;?; :.81?

[lurkb0 Outflrs.

Nltb0 ZZI 4 puhcgk onm puhcgkcy iuorontbbm (mbht).

]ohcb ?:.? (klntgnubm)

Qorgohcb Nudhbr la lhsbrvotglns Dbon [tonmorm mbvgo

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ovlgmgni ovlgmohcb mbht krgsbs 8=7

la mbht tfot orb dorebmcy clwbr tfon tflsb la tfb ungvbrsb la mbvbclpgnikluntrgbs onm tronsgtgln bklnldgbs. Os tfbrb doy hb suhstontgoc gnbrtgo gnmbht okkuducotgln, tfb gnkrbosb gn mbht gn tfb aucc sodpcb doy hb dukf

coribr tfon mlkudbntbm gn tohcb ?:.?. ]fbrbalrb, tfb rbsucts la tfgs sbktglnsflucm hb toebn wgtf sldb koutgln.

]fb tronsgtgln bklnldgbs la Bostbrn Burlpb onm Kbntroc Osgo bntbrbmtfb krgsgs wgtf fgifbr cbvbcs la bxtbrnoc mbht tfon tfb krlss-kluntry ovbr-oib. ]fby wbrb sbvbrbcy fgt hy tfb iclhoc krgsgs, wgtf ovbroib IMZ irlwtfaoccgni arld ?: pbrkbnt gn 8::;‛:9 tl zbrl gn 8::9‛:7 onm tfb ovbroibbxtbrnoc mbht tl IMZ rotgl seyrlkebtgni arld =8 pbrkbnt tl 66 pbrkbnt.

Gn klntrost, clw- onm clwbr-dgmmcb-gnkldb kluntrgbs bntbrbm tfb krgsgswgtf o cbvbc la tltoc bxtbrnoc mbht tfot wos suhstontgoccy clwbr tfon tfb

krlss-kluntry ovbroib onm o cbvbc la ZZI bxtbrnoc mbht tfot wos ̀ ust ohlvbtfb krlss-kluntry ovbroib. Murgni tfb krgsgs, tfby bxpbrgbnkbm, ln ovbroib,o dlmbrotb gnkrbosb gn tltoc onm ZZI bxtbrnoc mbht (octfluif sldb klun-trgbs gn tfb irlup sow tfbgr mbht gnkrbosb hy os dukf os ;6 pbrkbnt).

Gn 8::2 occ irlups la kluntrgbs gnkcumbm gn tfb _BM[ fom sgdgcor cbvbcsla bxtbrnoc mbht (agiurb ?:.?). Yfgcb dlst kluntrgbs wbrb rbmukgni tfbgrmbht cbvbcs, tfb kluntrgbs la tfb Burlpb onm Kbntroc Osgo rbigln wbrbropgmcy okkuducotgni mbht cgohgcgtgbs. Kluntrgbs gn tfgs rbigln ocsl bntbrbmtfb krgsgs wgtf tfb clwbst ovbroib cbvbc la ZZI mbht onm stortbm okkudu-cotgni puhcgk mbht ot tfb bnm la 8::65 hy tfb bnm la 8::7, tfby fom cbvbcsla ZZI tfot wbrb kldporohcb tl tflsb la clw-gnkldb kluntrgbs (agiurb?:.?). Hy tfb bnm la 8::7, mbvbclpgni kluntrgbs onm tronsgtgln bklnldgbsgnkcumbm gn tfb _BM[ stotgstgks fom tltoc bxtbrnoc mbht la ocdlst $= trgc-cgln. Ohlut 9; pbrkbnt la tfgs mbht wos lwbm hy prgvotb krbmgtlrs5 tfbrbdogngni 89 pbrkbnt wos puhcgk lr ZZI.

Kosb [tumy Onocysgs0 [lvbrbgin Mbaoucts gn tfb [bklnmFoca la tfb Zost Mbkomb

Bxodgnotgln la alur rbkbnt mbaouct bpgslmbs, gn Hbcgzb, Bkuomlr, Irbnomo,onm tfb [bykfbccbs, gs gnstruktgvb, igvbn tfot gt gs prlhohcy tll borcy tlbxtrokt mbagngtgvb cbsslns arld tfb kurrbnt krgsgs. Octfluif tfb sodpcb gssdocc, gt gnkcumbs vbry mgaabrbnt bxpbrgbnkbs onm kon tfus suiibst sldb cbs-slns ln tfb auturb la mbht krgsbs.

Hbcgzb

Ot tfb turn la tfb kbntury, tfb ilvbrndbnt la Hbcgzb bdhorebm ln onodhgtglus mbht-agnonkbm prlirod ogdbm ot rbhugcmgni tfb gnarostrukturbmodoibm hy o wovb la furrgkonbs onm trlpgkoc stlrds tfot fgt tfb kluntryhbtwbbn ?776 onm 8::8. ]fgs dossgvb rbklnstruktgln baalrt klgnkgmbmwgtf mbkcgngni prgkbs alr sldb bxplrts onm cbm tl o pbrsgstbnt tromb mbagkgt.

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Agiurb ?:.? Bxtbrnoc Mbht, Zrgvotb Bxtbrnoc Mbht, onm ZuhcgkcyIuorontbbm Bxtbrnoc Mbht os [forb la IMZ, 8::2‛:7

[lurkb0 Outflrs‗ kockucotglns, hosbm ln moto arld tfb Ylrcm Hone‗s_uortbrcy Bxtbrnoc Mbht [totgstgks.

o. ]ltoc bxtbrnoc mbht os sforb la IMZ

h. Zrgvotb bxtbrnoc mbht os sforb la IMZ

k. ZZI bxtbrnoc mbht os sforb la IMZ

:.7

:.6

:.9

:.1

:.2

:.=

:.;

:.8

:.?

:

:.9

:.1

:.2

:.=

:.;

:.;2

:.82

:.?2

:.:2

:

:.;:

:.8:

:.?:

:.8

:.?

:

  _   8

  _   ;

  _  =

  _  ?

  _   8

  _   ;

  _  ?

  _   8

  _   ;

  _  =

  _  ?

  _   8

  _   ;

  _  =

  _  ?

  _  ?

  _   8

  _   ;

  _  =

occ kluntrgbs Burlpb onm Kbntroc Osgo

dgmmcb-clw onm clw-gnkldb clw-gnkldb

  b  x   t  b  r  n  o   c   m  b   h   t   /   I   M   Z

  p  r   g  v  o   t  b

  b  x   t  b  r  n  o   c   m  b   h   t   /   I   M   Z

   Z   Z   I   b

  x   t  b  r  n  o   c   m  b   h   t   /   I

   M   Z

8::2 8::1 8::9 8::6 8::7

  _   8

  _   ;

  _  =

  _  ?

  _   8

  _   ;

  _  ?

  _   8

  _   ;

  _  =

  _  ?

  _   8

  _   ;

  _  =

  _  ?

  _  ?

  _   8

  _   ;

  _  =

8::2 8::1 8::9 8::6 8::7

  _   8

  _   ;

  _  =

  _  ?

  _   8

  _   ;

  _  ?

  _   8

  _   ;

  _  =

  _  ?

  _   8

  _   ;

  _  =

  _  ?

  _  ?

  _   8

  _   ;

  _  =

8::2 8::1 8::9 8::6 8::7

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ovlgmgni ovlgmohcb mbht krgsbs 82?

Bxplrts la illms onm sbrvgkbs os o pbrkbntoib la IMZ mbkcgnbm stbomgcy, arld16 pbrkbnt gn ?77? tl 2= pbrkbnt gn 8::; wfgcb gdplrts ebpt gnkrbosgni.Os o klnsbqubnkb, tfb kurrbnt okklunt mbagkgt wgmbnbm suhstontgoccy,

rbokfgni ?7 pbrkbnt la IMZ gn 8::;.]fb agskoc sgtuotgln ebpt mbtbrglrotgni, wgtf tfb puhcgk sbktlr‗s bxtbrnoc

mbht gnkrbosgni arld =1 pbrkbnt la IMZ gn ?777 tl 68 pbrkbnt la IMZgn 8::1. ]fb nbbm tl rlcc lvbr sukf o corib vlcudb la mbht cbm tl o sbrgbsla rbagnonkgni lpbrotglns wgtf fgifbr onm fgifbr gntbrbst rotbs5 hy Ouiust8::1 Hbcgzb wos spbnmgni dlrb tfon 89 pbrkbnt la gts agskoc rbvbnubs sbr-vgkgni tfb gntbrbst ln gts mbht. Dbonwfgcb, tfb agskoc mbagkgt wos rgsgni (tfbovbroib agskoc mbagkgt gn 8::=‛:2 bxkbbmbm 6 pbrkbnt la IMZ) onm IMZirlwtf klntroktgni.

Hbcgzb‗s unsustognohcb sgtuotgln cbm tl tfb onnlunkbdbnt la on –gdpbnm-gni mbht rborronibdbnt— ln Ouiust 8, 8::1. ]fb ilvbrndbnt mbkgmbm tlomlpt o klnstruktgvb opprlokf. Gt stortbm o prlkbss la gntbnsgvb klnsucto-tglns wgtf gts krbmgtlrs, wfgkf gt mbskrghbm os vbry fbcpauc gn mbagngni tfbtbrds. Ln Mbkbdhbr 1, 8::1, o prbss rbcbosb arld tfb Dgngstbr la Agnonkbonnlunkbm tfb dogn agnonkgoc tbrds la tfb bxkfonib laabr. Hbcgzb‗s slcbonm –unlaagkgoc— krbmgtlr klddgttbb bnmlrsbm tfb bxkfonib laabr tfrluifo prbss rbcbosb motbm Mbkbdhbr 88, 8::1, stotgni tfot tfb dbdhbrs la tfbklddgttbb fom unongdluscy mbkgmbm tl portgkgpotb. ]fb Notglnoc Ossbdhcyopprlvbm tfb tbrds la tfb laabr, wfgkf wos bxbkutbm hbtwbbn Mbkbdhbr ?6,8::1 onm @onuory 81, 8::9.]bnmbrs rbprbsbntgni 71.6 pbrkbnt la tfb oiirb-iotb prgnkgpoc odlunt la tfb bcgighcb kcogds wbrb rbkbgvbm. Os o rbsuct la tfbusb la o klccbktgvb oktgln kcousb (KOK) gn o mlccor-mbnldgnotbm hlnm gssubmgn 8::;, wfgkf wos suh`bkt tl Nbw Wlre cow, tfb tltoc odlunt klvbrbm hytfgs agnonkgoc rbstrukturgni rbprbsbntbm 76.? pbrkbnt la tfb bcgighcb kcogds.

Hbcgzb wos tfb agrst slvbrbgin gn dlrb tfon 9: ybors tl usb o KOK tlodbnm tfb poydbnt tbrds la o hlnm gn o slvbrbgin mbht rbstrukturgni(Hukffbgt onm Eorpgnseg 8::1). ]fb aokt tfot tfb 8::; hlnm gnkcumbm oKOK, wfgkf rbqugrbs tfb wrgttbn klnsbnt la flcmbrs la ot cbost 62 pbrkbnt

la tfb hlnms, irbotcy aokgcgtotbm tfb bxkfonib. Flcmbrs la 69.; pbrkbntla tfb Nbw Wlre KOK hlnm okkbptbm Hbcgzb‗s bxkfonib laabr, tfbrbhyklnsbntgni tl tfb odbnmdbnts, wfgkf gnkcumbm dotkfgni tfb tbrds la tfb–lcm— hlnms wgtf tflsb la tfb –nbw— hlnms. Os o rbsuct la tfb bxkfoniblaabr, Hbcgzb‗s hlnm rotgnis wbrb upirombm.

Hbcgzb domb twl suhstontgoc klntrghutglns tl tfb slvbrbgin mbht-rbstrukturgni tllcegt. ]fb agrst wos tfb tronsporbnt opprlokf. Hbcgzbplstbm occ tfb gnalrdotgln rbcotbm tl tfb mbht rborronibdbnt, gnkcumgniplssghcb rbstrukturgni skbnorgls onm o kcbor gnmgkotgln la tfb mbht rbcgba

nbbmbm, ln gts Ybh sgtb (Hukffbgt onm Eorpgnseg 8::9).7

 ]fb sbklnm klntrghutgln wos tfb gnvgtotgln tl krbmgtlrs tl alrd klddgt-tbbs. ]fb krbotgln la tfb krbmgtlr klddgttbbs mgaabrbm arld tflsb alrdbmgn tfb ?76:s onm ?77:s gn kbrtogn ospbkts. Hbcgzb bstohcgsfbm krgtbrgo alrtfb alrdotgln la krbmgtlr klddgttbbs onm tfbgr prlkbmuroc rucbs, mrowgni

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ovlgmgni ovlgmohcb mbht krgsbs 82;

Bkuomlr‗s mbaouct ln tfb 8:?8 onm 8:;: hlnms onm gts huyhoke trons-oktglns doy cbom tl sldb kfonibs gn slvbrbgin mbht gnstrudbnts. Nbw slv-brbgin mbht gssuonkbs wgcc gnkcumb strgkt klntroktuoc prlvgsglns gnkrbosgni

tfb stonmorm la trustbb rbsplnsghgcgty gn plstmbaouct skbnorgls onm tgiftbn-gni rbiucotglns rbiormgni o hlrrlwbr‗s ohgcgty tl rbpurkfosb gts mbaouctbmmbht (Hukffbgt onm Iucotg 8::7).

Bkuomlr occbibmcy bnioibm gn on oiirbssgvb sbklnmory rbpurkfosbtfrluif gntbrdbmgorgbs wfbn tfb prgkb alr tfb mbaouctbm 8:?8 onm 8:;:hlnms fgt rlke hlttld hut hbalrb on laagkgoc dlrotlrgud wos onnlunkbmlr o mbaouct oktuoccy lkkurrbm (Dgccbr 8::75 Zlrzbkonseg alrtfkldgni).]fb 8:?8 onm 8:;: Bkuomlron hlnms gnkcumbm o mbht purkfosb prlvgsgln(o donmotlry prbpoydbnt orronibdbnt). ]fgs klntroktuoc orronibdbnt

rbqugrbm tfb rbtgrbdbnt la on oiirbiotb lutstonmgni odlunt alr bokf typb lahlnm hy o spbkgagbm pbrkbntoib bokf ybor stortgni oatbr 1 ybors alr tfb 8:?8hlnms onm ?? ybors alr tfb 8:;: hlnms, tfrluif purkfosbs gn tfb sbklnm-ory dorebt, mbht-bqugty swops, lr ony ltfbr dbons.?8 

]fgs klntroktuoc prlvgsgln gnkcumbm gn tfb Bkuomlron hlnms kcborcymbnltbs tfot tfb purkfosb gn tfb sbklnmory dorebt la o mbhtlr‗s lwn mbhtgs nlt lncy cbioc hut ocsl mbsgrohcb, hbkousb gt kon rbmukb tfb odlunt lalutstonmgni mbht tl doeb gt dlrb donoibohcb. Flwbvbr, Bkuomlr‗s rbpur-kfosb tlle pcokb oatbr kbrtogn bvbnts tfot klucm fovb oaabktbm tfb tromgniprgkb la tfb mbht gnstrudbnts, gnkcumgni onnlunkbdbnts la tfb mbcoy gngntbrbst poydbnts onm vgmbls sflwgni tfb agnonkb dgngstbr prgvotbcy mgs-kussgni mbht gnstrudbnts wgtf ltfbr gnmgvgmuocs (Bklnldgst 8::9). ]fgshbfovglr rbvbocbm o systbdgk aogcurb oaabktgni –dorebt gntbirgty,— os Bkuomlrklucm fovb mgskclsbm gnalrdotgln tfot oaabkts tfb dorebt wfgcb mbkgm-gni wfbtfbr tl mbaouct.?; ]fbrbalrb, bvbn ga tfb tgbs hbtwbbn tfb sbklnm-ory oktlrs onm tfb Bkuomlron ilvbrndbnt wbrb tl hb prlvbn, tfb oktuocmbaouct domb gt vbry mgaagkuct tl mbdlnstrotb on unmbsgrohcb hbfovglr, ostfb mbaouct lkkurrbm, dlltgni plssghcb occbiotglns la mbcghbrotb dorebtdongpucotgln.?= 

Irbnomo

Irbnomo, o sdocc gsconm bklnldy, bntbrbm 8::= wgtf o corib kurrbntokklunt mbagkgt (ocdlst ?; pbrkbnt la IMZ) onm suhstontgoc bxtbrnoc mbht.Hltf tfb mbht onm tfb mbagkgt fom hbbn sfrgnegni gn kldporgsln wgtfprbvglus ybors, onm tfb kluntry oppborbm tl hb ln tfb potf tl okfgbvgnibxtbrnoc sustognohgcgty. ]fb sgtuotgln kfonibm oatbr Furrgkonb Gvon fgt, gn[bptbdhbr 8::=, kousgni bklnldgk modoib tfot bxkbbmbm 8:: pbrkbnt

la Irbnomo‗s IMZ. ]fb furrgkonb rbnmbrbm gnlpbrohcb ohlut 9: pbrkbntla fltbc rllds onm modoibm 9: pbrkbnt la tfb prlmukgni okrboib lanutdbi pcontotglns, tfb kluntry‗s dogn slurkbs la gnkldb.?2 Os o rbsuct,unbdpclydbnt rlsb sforpcy onm tfb kurrbnt okklunt mbagkgt ocdlst trgpcbm.

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82=  cg, lcgvorbs-kodgnoc, onm pongzzo

Gn @ucy 8::2 Irbnomo wos fgt hy Furrgkonb Bdgcy, wfgkf fom on bklnldgkklst la ?8 pbrkbnt la IMZ.

Irbnomo klucm nlt rbsplnm tl tfbsb corib bxtbrnoc sflkes onm kurrbnt

okklunt mbagkgts hy mbvocugni gts kurrbnky, hbkousb gts kurrbnky gs pbiibmtl tfb R.[. mlccor. Os o rbsuct, lutput klntroktbm hy ocdlst 1 pbrkbnt gn8::=. Lutput rbklvbrbm gn 8::2 hut klntroktbm hy 8.= pbrkbnt gn 8::1onm 8::9, wfbn tfb kurrbnt okklunt mbagkgt surpossbm =: pbrkbnt la IMZ.

Irbnomo stlppbm sbrvgkgni gts bxtbrnoc mbht gn tfb aocc la 8::=5 gt dombon bxkfonib laabr tl flcmbrs la bcgighcb klddbrkgoc mbht gn [bptbdhbr8::2. Dlrb tfon 62 pbrkbnt la tfb flcmbrs la tfb bcgighcb mbht (hlnmflcm-brs onm flcmbrs la ltfbr typbs la klddbrkgoc mbhts) okkbptbm tfb laabr.Ohlut ?2 pbrkbnt la krbmgtlrs nbgtfbr bxkfonibm tfbgr mbht gnstrudbnts

nlr rbokfbm o cotbr oirbbdbnt. ]fgs put Irbnomo gn o mbomclke sgtuotgln,hbkousb gt mgm nlt wont tl rbpumgotb gts mbhts hut mgm nlt fovb tfb dbonstl sotgsay tfb rbqubsts la tfb flcmlut krbmgtlrs. Irbnomo ommrbssbm tfgsgssub hy omlptgni coniuoib sgdgcor tl tfot usbm gn tfb Klddlnwboctf laMldgngko‗s 8::= bxkfonib laabr.?1 Irbnomo mgm nlt klddgt ony ommgtglnocaunms tl sbrvgkb tfb nlntbnmbrbm gnstrudbnts, hut gt occlwbm alr tfb plssg-hgcgty la sbrvgkgni tfbsb mbhts lnkb ommgtglnoc rbslurkbs hbkodb ovogcohcb.Nl oktuoc prldgsbs wbrb domb, hut tfb mbht wos nlt rbpumgotbm.

]fb trbotdbnt la flcmlut krbmgtlrs prlvgmbm hy Irbnomo”tfot gs,nbgtfbr rbpumgotgni nlr rbpoygni tfb mbht hut wogtgni untgc tfbrb gs okcborbr pgkturb”kon hb muhhbm tfb Korghhbon Opprlokf (Hukffbgt onmEorpgnseg 8::1). ]fb nodb gs opprlprgotb nlt lncy hbkousb tfb opprlokfwos usbm hy Irbnomo alcclwgni Mldgngko‗s rbstrukturgni bxpbrgbnkb hutocsl hbkousb tfb tbrd wos klgnbm hy tfb Korghhbon-hlrn R.[. [bkrbtoryla tfb ]rbosury, Ocbxonmbr Fodgctln, gn o R.[. bxkfonib laabr gn ?97:.Octfluif tfb slvbrbgin gs nlt prlvgmgni on oktuoc slcutgln, gt gs nlt prl-vgmgni o cbioc irlunm alr kcogds hosbm ln tfb rbpumgotgln la tfb mbhts lambhtflcmbrs wfl mbkgmb nlt tl portgkgpotb gn tfb bxkfonib laabr.

]fb ltfbr rbcbvont aboturb la tfb Irbnomgon bxkfonib laabr gs tfb struk-

turgni la gnmgvgmuoc bnalrkbdbnt rgifts unmbr tfb trust gnmbnturb, wfgkfwos suh`bkt tl Nbw Wlre cow. ]fbrb gs o suhstontgoc mgaabrbnkb hbtwbbnBnicgsf trust mbbms onm R.[. trust gnmbnturbs rbiormgni tfb bxtbnt la tfbtrustbb‗s bnalrkbdbnt plwbrs.?9

]fb [bykfbccbs

]fb [bykfbccbs gs o sdocc gsconm kluntry tfot mbpbnms fbovgcy ln gdplrtbmklddlmgtgbs onm tlurgsd rbvbnubs (tlurgsd rbprbsbnts ohlut 9: pbrkbnt

la tltoc alrbgin bxkfonib borngnis). ]fb pbrglm 8::1‛:9 wos kforoktbr-gzbm hy ropgm irlwtf os wbcc os dluntgni strukturoc gdhoconkbs. Octfluifon lvbrvocubm kurrbnky wos kousgni unsustognohcb kurrbnt okklunt mbagkgtsln tfb lrmbr la ;8 pbrkbnt la IMZ, tfb kbntroc hone wos rbcuktont tl mbprb-kgotb tfb kurrbnky hbkousb la klnkbrns lvbr tfb agskoc klsts la nbiotgvb

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821  cg, lcgvorbs-kodgnoc, onm pongzzo

wgcc hb rbsplnsghcb alr on oiirbiotb doxgdud iuorontbb gn tfb odluntla $?: dgccgln. ]fb iuorontbb gs o sbnglr, unsuhlrmgnotbm, unklnmgtglnoc,onm unsbkurbm lhcgiotgln hy tfb Oargkon Mbvbclpdbnt Hone. ]fb odlunts

poyohcb ml nlt gnkcumb prgnkgpoc, klsts, abbs, bxpbnsbs, lr ltfbr odluntslr ony poydbnt la gntbrbst tfot gn oiirbiotb bxkbbms $?: dgccgln.

Yfot Gs Dgssgni< Nbw Zlcgkgbs onm Nbw Gnstgtutglns

]fb mgskussgln gn tfb prbvglus sbktglns fgifcgifts tfrbb hosgk kousbs lambht krgsbs0 lvbrhlrrlwgni hy tfb puhcgk onm prgvotb sbktlrs5 corib bxtbr-noc sflkes, kousbm bgtfbr hy noturoc mgsostbrs lr summbn mrlps gn bxtbrnoc

mbdonm5 onm tfb prbsbnkb la klntbntglus mbht klntrokts. Zlcgkgbs ot tfbnotglnoc onm gntbrnotglnoc cbvbcs ogdbm ot rbmukgni tfb prlhohgcgty la ombht krgsgs sflucm alkus ln tfbsb tfrbb prlhcbds.

Ovlgmgni Lvbrhlrrlwgni 

Aovlrohcb bxtbrnoc onm mldbstgk klnmgtglns latbn cbom tl o kcgdotb laiclhoc lptgdgsd. Gnvbstlrs onm plcgky doebrs stort tfgnegni tfot ropgmmbht okkuducotgln gs `ustgagbm hy tfb aokt tfot ropgm irlwtf wgcc occlwbdbrigni dorebt kluntrgbs tl sustogn fgifbr onm fgifbr cbvbcs la mbht. ]fbstlry usuoccy bnms gn troibmy, wgtf mbaouct bpgslmbs kcustbrbm ot tfb bnm lapbrglms la ropgm krbmgt bxponsgln (Hlrbnsztbgn onm Zongzzo 8::7).

]fgs pottbrn suiibsts tfot tfb agrst stbp tlworm okfgbvgni mbht sustogn-ohgcgty gs tl hlrrlw alr tfb rgift rbosln onm nlt tl hlrrlw tll dukf mur-gni –illm tgdbs.— Mbht sflucm hb usbm tl agnonkb prl`bkts tfot ibnbrotbrbturns tfot orb fgifbr tfon tfb gntbrbst rotb kforibm ln tfb clon (sukfprl`bkts doy gnkcumb kbrtogn typbs la slkgoc bxpbnmgturb, sukf os bmuko-tgln, wfgkf fovb o plsgtgvb gdpokt ln bklnldgk mbvbclpdbnt), onm alr-bgin kurrbnky hlrrlwgni sflucm hb cgdgtbm tl prl`bkts tfot bgtfbr mgrbktcy

lr gnmgrbktcy ibnbrotb tfb alrbgin kurrbnky nbkbssory tl sbrvgkb tfb mbht(RNK]OM 8::6).?7 

Zlcgkgbs ogdbm ot cgdgtgni lvbrhlrrlwgni nbbm tl rbklingzb tfot plcg-tgks latbn cgbs ot tfb kbntbr la hlrrlwgni mbkgsglns. Zlcgtgkgons tbnm tllvbrhlrrlw gn tfb run-up tl bcbktglns gn lrmbr tl stgducotb tfb bklnldyonm doxgdgzb tfb prlhohgcgty la rbbcbktgln. Dlrblvbr, plcgtgkgons wgtfo cgdgtbm tgdb flrgzln doy gnkur mbht gn lrmbr tl ovlgm mgaagkuct agskocom`ustdbnts onm put tfb lnus ln tfbgr sukkbsslrs. Zuhcgk sbktlr lvbrhlr-rlwgni kon hb cgdgtbm hy gnkrbosgni tfb tronsporbnky la tfb humibtory

prlkbss onm tfb rbcgohgcgty la agskoc onm mbht stotgstgks onm hy dogntogngnio wbcc-aunktglngni systbd la outldotgk agskoc stohgcgzbrs.]fb sgtuotgln la clw-gnkldb kluntrgbs gs dlrb kldpcgkotbm tfon tfot

la dgmmcb-gnkldb bdbrigni dorebt kluntrgbs, hbkousb dony clw-gnkldbkluntrgbs fovb cgdgtbm ohgcgty tl sustogn mbht hut nbbm bxtbrnoc rbslurkbs

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ovlgmgni ovlgmohcb mbht krgsbs 829 

gn lrmbr tl hugcm tfbgr prlmuktgvb kopokgty onm agnonkb slkgoc bxpbnmg-turbs. ]fb gmboc slcutgln wlucm hb tl gnkrbosb ogm aclws tl tfbsb kluntrgbs.Flwbvbr, alr ony igvbn ogm bnvbclpb, mgaagkuct mbkgsglns nbbm tl hb domb

ln tfb lptgdoc mbirbb la klnkbssglnocgty. Gn tfb bxtrbdb, sukf mbkgsglnshlgc mlwn tl wfbtfbr mlnlrs sflucm igvb lncy ironts lr hcbnm iront onmclons. Rnmbr tfb kurrbnt opprlokf, mlnlrs stort hy klnmuktgni alrworm-cllegni mbht sustognohgcgty onocysbs, usgni tfb lutkldb tl mbtbrdgnb tfbdgx hbtwbbn ironts onm clons. Os ironts orb suh`bkt tl o vlcudb mgskluntwgtf rbspbkt tl clons, tfb lutkldb la tfb mbht sustognohgcgty bxbrkgsb ocslmbtbrdgnbs tfb sgzb la tfb tltoc tronsabr.8: Octfluif tfgs opprlokf doebssbnsb arld o tfblrbtgkoc plgnt la vgbw, gt suaabrs arld sbrglus gdpcbdbnto-tgln prlhcbds. ]fb dlst gdplrtont la tfbsb prlhcbds gs tfot bstgdotgni

clni-tbrd mbht sustognohgcgty rbqugrbs alrbkostgni IMZ irlwtf alr tfb nbxt8:‛;: ybors. [ukf prbmgktglns latbn bnm up hbgni kldpcbtbcy usbcbss.8? 

Zrgvotb mbht kon ocsl cbom tl puhcgk mbht krgsbs, os o rbsuct la klntgnibntcgohgcgtgbs lr hbkousb tfb ilvbrndbnt doy nbbm tl stbp gn tl sustogn oiirb-iotb mbdonm ga prgvotb mbdonm klccopsbs. Gn aokt, tfbrb orb klnmgtglnsunmbr wfgkf prgvotb bxtbrnoc mbht doy ibnbrotb dlrb vucnbrohgcgtgbs tfonpuhcgk sbktlr bxtbrnoc mbht (RNK]OM 8:?:). Bxkbssgvb prgvotb sbktlrhlrrlwgni kon hb cgdgtbm hy prumbntgoc rbiucotgln la hones onm ltfbragnonkgoc gntbrdbmgorgbs. Hbkousb tfb usb onm ohusb la kldpcbx mbrgvotgvbgnstrudbnts cgdgt tfb ohgcgty la rbiucotlrs tl dlngtlr tfb bxtbrnoc bxpl-surb la tfb prgvotb sbktlr, tfbrb orb gnstonkbs gn wfgkf tfb gntrlmuktgln laklntrlcs ln kopgtoc gnaclws gs tfb lncy baabktgvb woy tl cgdgt prgvotb sbktlrlvbrhlrrlwgni.

Dlvgni tl Klntgnibnt Mbht Klntrokts

Mbht krgsbs onm mbaoucts orb latbn trgiibrbm hy unbxpbktbm bxtbrnoc sflkes.[ukf sflkes kon toeb tfb alrd la noturoc mgsostbrs, ohrupt mrlps gn bxtbr-noc mbdonm, lr o summbn tgiftbngni la bxtbrnoc agnonkgoc klnmgtglns.

Flw kon kluntrgbs dogntogn mbht sustognohgcgty gn tfb oatbrdotf labxtbrnoc sflkes< Lnb plssghcb opprlokf gs sbca-gnsuronkb, wfgkf klnsgstsla nlt okkuducotgni nbt bxtbrnoc mbht (kluntrgbs doy stgcc fovb o irlssbxtbrnoc mbht, wfgkf gs tfbn dotkfbm hy tfb okkuducotgln la gntbrnotglnocrbsbrvbs). ]fgs gs bxoktcy wfot dony bdbrigni dorebt kluntrgbs fovb hbbnmlgni sgnkb tfb Osgon onm Xussgon krgsbs la tfb cotb ?77:s. Nlt occ klun-trgbs kon oaalrm tl sbca-gnsurb. Dlrblvbr, sbca-gnsuronkb oppbors tl hb suh-lptgdoc, hbkousb rbslurkbs orb tgbm up gn gntbrnotglnoc rbsbrvbs gnvbstbm gnclw-rbturn ossbts sukf os R.[. ilvbrndbnt hlnms.

On octbrnotgvb gs tl huy gnsuronkb arld tfgrm portgbs. Kluntrgbs kon bgtfbrhuy stonmorm gnsuronkb klntrokts lr gssub klntgnibnt mbht gnstrudbnts (tfotgs, mbht klntrokts gn wfgkf tfb rbpoydbnt mbpbnms ln tfb rbocgzotgln lao igvbn bvbnt). [ukf gnstrudbnts bxgst, hut tfby tbnm tl hb unmbrutgcgzbmhbkousb la omvbrsb sbcbktgln onm plcgtgkoc bklnldy prlhcbds.88 

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826  cg, lcgvorbs-kodgnoc, onm pongzzo

Omvbrsb sbcbktgln rbcotbs tl tfb aokt tfot lncy kluntrgbs tfot tfgne tfbyaokb o sgingagkont rgse fovb on gnkbntgvb tl huy gnsuronkb, rbmukgni tfbnudhbr la kluntrgbs gn tfb gnsuronkb pllc onm gnkrbosgni tfb klst la gnsur-

onkb. Dlrblvbr, tfb mbkgsgln tl huy gnsuronkb doy cbom tl on gnkrbosbgn tfb prbdgud, hbkousb gnsurbrs doy gntbrprbt o kluntry‗s mbkgsgln tlhuy gnsuronkb os o sginoc tfot plcgky doebrs gn tfb kluntry fovb prgvg-cbibm gnalrdotgln ln tfb prlhohgcgty tfot tfb gnsurbm rgse wgcc gnmbbmdotbrgocgzb.

Zlcgtgkoc bklnldy lhstokcbs orb bvbn dlrb gdplrtont. [bca-gntbrbstbmplcgky doebrs wgtf sflrt tgdb flrgzlns fovb cgdgtbm gnkbntgvbs tl bnioibgn klntgnibnt mbht klntrokts, wfgkf gdpcy o klst tfot dust hb pogm up arlntonm o hbnbagt tfot doy okkrub lncy ybors cotbr.8; Bvbn octrugstgk plcgtgkgons

doy aokb mgaagkuctgbs usgni klntgnibnt mbht gnstrudbnts, hbkousb ga tfbrgse mlbs nlt rbocgzb, tfby kon hb okkusbm la fovgni wostbm tfb kluntry‗sdlnby. Dbxgkl, alr bxodpcb, pogm $?.2 hgccgln gn tfb suddbr la 8::6 tlgnsurb occ la gts lgc bxplrts oiognst tfb plssghgcgty la o summbn mrlp gn tfbprgkb la lgc. Gn 8::7, wfbn lgc prgkbs abcc, tfb Dbxgkon dgngstbr la agnonkb,Oiustgn Korstbns, wos ungvbrsoccy oppcoumbm alr fovgni purkfosbm tfbsbklntrokts, wfgkf mbcgvbrbm on $6 hgccgln wgnmaocc bxoktcy wfbn tfb klun-try nbbmbm tfb dlnby tfb dlst. Flwbvbr, lnb klucm gdoignb tfb rboktglnla tfb Dbxgkon puhcgk ga tfb prgkb la lgc fom nlt mbkrbosbm. Gn tfb hbstla kosbs, Korstbns wlucm fovb hbbn krgtgkgzbm alr fovgni wostbm o coribodlunt la puhcgk dlnby. Gn tfb wlrst kosb, fb wlucm fovb hbbn okkusbmla lutrgift klrruptgln. Wbt tfb mbkgsgln tl gnsurb wlucm fovb hbbn tfbrgift lnb bvbn ga prgkbs fom gnkrbosbm (wgtf fgif lgc prgkbs, Dbxgkl wlucmnlt fovb nbbmbm tfb bxtro dlnby os dukf os gt nbbmbm gt ot o tgdb la mbbpkrgsgs). ]fb slurkb la tfb plcgtgkoc bklnldy prlhcbd gs tfot ony lptgdocklntrokt wlucm gnvlcvb o poylut hy tfb kluntry gn sldb stotb la tfbwlrcm.8= 

O ungvbrsoc donmotb alrkgni occ kluntrgbs tl gssub klntgnibnt mbhtgnstrudbnts wlucm slcvb hltf omvbrsb sbcbktgln onm plcgtgkoc bklnldy

prlhcbds. Octfluif gt wlucm hb gdplssghcb tl gdplsb klntgnibnt mbhtklntrokts ln unwgccgni slvbrbgin hlrrlwbrs onm prgvotb cbnmbrs, tfb laag-kgoc sbktlr klucm prldltb tfb usb la tfbsb typbs la klntrokts hy usgni lncyklntgnibnt clons.

Mbocgni wgtf Mbaoucts

Bvbn wgtf hbttbr mldbstgk onm gntbrnotglnoc plcgkgbs onm gnstgtutglns,mbaoucts orb stgcc hlunm tl foppbn. ]fb gntbrnotglnoc agnonkgoc orkfgtbkturb

stgcc cokes o dbkfongsd alr rbslcvgni sukf mbaoucts swgatcy onm cgdgtgnitfbgr klsts.Rntgc tfb borcy ?77:s, dlst gntbrnotglnoc mbht la mbvbclpgni kluntrgbs

wos lwbm tl laagkgoc krbmgtlrs (ductgcotbrocs lr hgcotbroc) lr tl hones.

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ovlgmgni ovlgmohcb mbht krgsbs 827

]fgs dbont tfot mbht rbnbiltgotglns gnvlcvbm o rbcotgvbcy sdocc nudhbrla portgbs. Oatbr Hromy swops tronsalrdbm mbaouctbm synmgkotbm honeclons gntl Hromy hlnms, plcgky doebrs stortbm wlrrygni tfot tfb prbs-

bnkb la o corib nudhbr la mgspbrsbm onm fbtbrlibnblus krbmgtlrs wlucmcbom tl clni onm klstcy mbht rbnbiltgotglns. ]fbsb klnkbrns dltgvotbmsbvbroc prlplsocs ogdbm ot rbmukgni klccbktgvb oktgln prlhcbds. ]fbRngtbm Notglns Klnabrbnkb ln ]romb onm Mbvbclpdbnt (RNK]OM) wostfb agrst gntbrnotglnoc lriongzotgln tl kocc alr on lrmbrcy wlrelut prl-kbmurb alr bxtbrnoc mbht la mbvbclpgni kluntrgbs mrowgni ln notglnochoneruptky cows, nltohcy Kfoptbrs 7 onm ?? la R.[. honeruptky cow(RNK]OM ?761). Gn 8::? tfb GDA prlplsbm tfb krbotgln la o slvbrbginmbht-rbstrukturgni dbkfongsd ([MXD). ]fb bstohcgsfdbnt la sukf o

dbkfongsd wos bvbntuoccy rb`bktbm. ]fb dorebt rbsplnsb wos tfb usbla klntroktuoc aboturbs0 bxgt klnsbnt lr bxgt odbnmdbnts onm tfb usbKOKs.82 

[ldb outflrs oriub tfot tfb aogcurb tl bstohcgsf o dbkfongsd ogdbmot o spbbmgbr onm dlrb baagkgbnt rbslcutgln la mbaouct bpgslmbs gs o illmtfgni alr tfb gntbrnotglnoc mbht dorebt. ]fbgr rotglnocb gs tfot tfb klstsla mbaouct sustogn tfb bxgstbnkb la tfb gntbrnotglnoc mbht dorebt onm tfotony plcgky ogdbm ot rbmukgni tfbsb klsts wgcc sfrgne gntbrnotglnoc cbnm-gni, doeb gt dlrb bxpbnsgvb, lr hltf (Mllcby 8:::5 [fcbgabr 8::;5 alr onoctbrnotgvb vgbw, sbb kfoptbr ?8 la tfgs vlcudb). Flwbvbr, tfb plssghgcgtytfot kluntrgbs doy suhlptgdoccy try tl mbcoy unovlgmohcb mbaoucts putson gntbrbstgni spgn ln tfb mgskussgln la tfb mbsgrohgcgty la gntbrnotglnocplcgkgbs ogdbm ot dgtgiotgni tfb klsts la mbaouct. Ga gt gs gnmbbm trub tfot okluntry‗s ottbdpt tl mbabnm gts rbputotgln krbotbs o mbomwbgift clss, tfbkrbotgln la on oibnky wgtf tfb ohgcgty tl kbrtgay tfb kousbs la o mbaouct bpg-slmb klucm pltbntgoccy prltbkt tfb rbputotgln la –illm— kluntrgbs wgtflutalrkgni tfbd tl il tfrluif o pognauc plstplngni bxbrkgsb. [ukf kbrtgagko-tgln wlucm rbprbsbnt o Zorbtl gdprlvbdbnt, hbkousb gt klucm pltbntgoccyrbmukb tfb klsts la mbaoucts wfgcb gnkrbosgni rbklvbry vocubs ln mbaouctbm

mbht onm tfus gnkrbosgni okkbss onm rbmukgni tfb lvbrocc klsts la hlr-rlwgni (sbb Cbvy-Wbyotg onm Zongzzo alrtfkldgni onm kfoptbr ?= gn tfgsvlcudb).

Zrgnkgpcbs alr Zrldltgni Xbsplnsghcb [lvbrbgin Cbnmgnionm Hlrrlwgni 

Zrlplsocs alr bstohcgsfgni o krgsgs rbslcutgln dbkfongsd motb hoke tl?79?, wfbn tfb Irlup la 99 omlptbm tfb –Mbkcorotgln onm Zrgnkgpcbs

la tfb Oktgln Zrliroddb la Cgdo.—81

  ]fb prlirod koccbm alr lrmbrcymbht wlreluts tfot wlucm bxpcgkgtcy toeb gntl okklunt tfb mbvbclpdbntgdpcgkotglns la o fbovy mbht-sbrvgkgni hurmbn onm strbssbm tfb nbbm tlkrbotb o nbw gntbrnotglnoc dbkfongsd alr mbocgni wgtf mbht prlhcbds gn

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81:  cg, lcgvorbs-kodgnoc, onm pongzzo

mbvbclpgni kluntrgbs. 89 ]fb aokt tfot ocdlst alur mbkombs oatbr tfgs prl-plsoc tfbrb fos hbbn nl suhstontgvb prlirbss tlworm bstohcgsfgni sukf odbkfongsd fgifcgifts tfb mgaagkucty gn hugcmgni gntbrnotglnoc klnsbnsus

ln tfgs gssub.Gn tfb ohsbnkb la sukf o dbkfongsd, o sbt la ungvbrsoccy oirbbm ln

prgnkgpcbs alr rbsplnsghcb slvbrbgin cbnmgni onm hlrrlwgni klucm prldltbomfbrbnkb tl o klmb la klnmukt onm mgskluroib rbkecbss slvbrbgin cbnmgnilr hlrrlwgni. Gt klucm ocsl cbom tl tfb bstohcgsfdbnt la krgtbrgo tl ossbsswfbtfbr tfb klntroktgni la slvbrbgin mbht gs pbralrdbm rbsplnsghcy, hltfbx ontb onm, gn sldb kosbs, bx plst. ]fb portgbs wlucm tfbn nlt lncy fovbo klddln rbabrbnkb plgnt gn tfb kosb la o mgsputb, tfby wlucm ocsl hbbnkluroibm tl alcclw ibnbroccy okkbptbm prgnkgpcbs tfot bnfonkb rbspln-

sghcb proktgkbs.]fb post abw ybors fovb wgtnbssbm fbotbm mbhotb lvbr wfot klnstgtutbs

cbigtgdotb onm rbsplnsghcb slvbrbgin cbnmgni onm hlrrlwgni. Nlnilvbrn-dbntoc lriongzotglns onm sldb slvbrbgins fovb put qubstgln dores lntfb cbigtgdoky la klntroktgni portgbs, cbnmgni purplsbs, bnvgrlndbntoconm slkgoc klnsbqubnkbs, onm o ronib la ltfbr aoktlrs. Hugcmgni ln tfbdldbntud, RNK]OM gngtgotbm o prl`bkt ogdgni ot mrowgni up o sbt laiugmbcgnbs onm prgnkgpcbs.

Agmukgory mutgbs la notglnoc ilvbrndbnts klucm hb tfb klrnbrstlnb lasukf o sbt la prgnkgpcbs. Hltf cbnmgni onm hlrrlwgni ilvbrndbnts sflucmhb iugmbm hy tfb hbst gntbrbsts la tfbgr kurrbnt onm auturb kgtgzbns wfbnmrowgni up mbht klntrokts.

Zrlmukgni rbocgstgk mbht sustognohgcgty onocysbs alr hlrrlwbrs gs gn tfb`lgnt gntbrbst la hltf hlrrlwbrs onm cbnmbrs. ]fb prlkbss alr klntroktgnionm dbbtgni slvbrbgin mbht lhcgiotglns dust hb tronsporbnt bx ontb onmplcgtgkoccy okkluntohcb, portgkucorcy wfbn hlrrlwgni doy fovb gdpcgko-tglns alr rbvbnub strbods tfot oaabkt auturb ibnbrotglns. ]fb cbioc mgdbn-sgln sflucm hb gn oirbbdbnt wgtf tfb notglnoc onm gntbrnotglnoc cowrbiucotgni slvbrbgin cbnmgni onm hlrrlwgni onm toeb gntl klnsgmbrotgln

sukf hosgk bcbdbnts os rbspbkt alr tfb slvbrbginty onm lhcgiotglns latfb portgbs gnvlcvbm. Zrlpbr opprlvoc onm mgskclsurb sflucm hb alcclwbmmgcgibntcy. ]fb slkgoc mgdbnsgln klucm bdhlmy sukf bcbdbnts os fudonrgifts, prltbktgln la tfb bnvgrlndbnt, onm rbspbkt alr gntbrnoccy okkbptbmdgngdud stonmorms ln slkgoc gssubs, cohlr, onm bnvgrlndbntoc prltbk-tgln. Gn ommgtgln, klnsgmbrotgln sflucm hb igvbn tl gssubs rbcotbm tl mbhtrbnbiltgotgln, kldporohcb trbotdbnt, onm tfb gntbrbsts la clw-gnkldbkluntrgbs, tl nodb `ust o abw.

Klnkcumgni Xbdores

]fgs kfoptbr survbys flw tfb iclhoc bklnldgk krgsgs gs oaabktgni mbhtsustognohgcgty gn mbvbclpgni onm bdbrigni dorebt kluntrgbs hy bxodgngni

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ovlgmgni ovlgmohcb mbht krgsbs 81?

alur kosb stumgbs. Gt sflws tfot tfb rllt kousbs la tfb mbaoucts gn tfrbb latfbsb kluntrgbs (Hbcgzb, Irbnomo, onm tfb [bykfbccbs) wbrb sgdgcor. Occ latfbd gnvlcvbm sdocc onm pllrcy mgvbrsgagbm bklnldgbs tfot fom cgdgtbm

ohgcgty tl rbsplnm tl tfb corib bxtbrnoc sflkes tl wfgkf tfbgr bklnldgbswbrb bxplsbm.86  Gn occ tfrbb kosbs, plcgky oktgln wos klnstrognbm hy tfbprbsbnkb la o agxbm bxkfonib rotb rbigdb wfgkf cbm tl o rboc opprbkgo-tgln onm corib bxtbrnoc gdhoconkbs. Gn Hbcgzb onm Irbnomo, tfbsb bxtbrnocgdhoconkbs wbrb odpcgagbm hy bxkbssgvb puhcgk sbktlr hlrrlwgni. Gn Irb-nomo onm tfb [bykfbccbs, mbaoucts wbrb trgiibrbm hy o corib bxtbrnoc sflke(Furrgkonb Gvon gn Irbnomo, tfb iclhoc bklnldgk krgsgs gn tfb [bykfbccbs).Gn klntrost, gn Hbcgzb tfb mbaouct wos o dlrb mgrbkt lutkldb la bxkbssgvbpuhcgk spbnmgni (octfluif bxpbnmgturb irlwtf wos trgiibrbm hy prbvglus

noturoc mgsostbrs). ]fbsb agnmgnis suiibst tfot bdbrigni dorebt onm mbvbc-lpgni kluntrgbs rbdogn unmbrgnsurbm oiognst bxtbrnoc sflkes. Zrldltgnitfb usb la klntgnibnt mbht dbkfongsds wlucm gdprlvb mbht sustognohgcgtygn tfbsb kluntrgbs.

Hbcgzb, Irbnomo, onm tfb [bykfbccbs ocsl sbbdbm bquoccy gntbrbstbm gnprltbktgni tfbgr rbputotglns. Occ tfrbb kluntrgbs omlptbm sgdgcor, krbmgtlr-argbnmcy opprlokfbs tl rbstrukturgni tfbgr mbht. Gn ommgtgln tl kllpbrotgniwgtf krbmgtlrs, tfb tfrbb kluntrgbs osebm alr omvgkb onm agnonkgoc fbcp arldtfb gntbrnotglnoc klddungty.

Hbcgzb, Irbnomo, onm tfb [bykfbccbs orb tfrbb kosbs la slvbrbgin mbhtkrgsbs wgtf sldb prbvbntohcb bcbdbnts. Ga plcgkgbs tl ovlgm lvbrhlrrlwgnionm bnkluroib rbsplnsghcb slvbrbgin mbht proktgkbs fom hbbn gn pcokb”`lgntcy, tfrluif on gntbrnotglnoc dlvb tlworm klntgnibnt mbht klntroktstl dgngdgzb tfb gdpokt la bxtbrnoc sflkes”tfb lutkldb gn tfbsb kluntrgbsklucm fovb hbbn cbss sbvbrb.

]fb gssub la tfb cbigtgdoky la tfb mbaouctbm mbht wos ot tfb kbntbr latfb Bkuomlron mbaouct. Bkuomlr mbaouctbm ln twl hlnms hbkousb tfb mbhtoumgt klddgssgln krbotbm hy Zrbsgmbnt Xoaobc Klrrbo alunm tfot portla Bkuomlr‗s bxtbrnoc mbht wos gccbigtgdotb lr gccbioc. ]fb eby qubstgln

gs wfbtfbr Bkuomlr wgcc suaabr o clni-costgni rbputotglnoc klst arld gtsmbkgsgln tl mbaouct ln gts hlnms. Octfluif tfb cgtbroturb suiibsts tfotrbputotglnoc klst tbnms tl hb sflrt-cgvbm, tfb kosb la Bkuomlr doy bnm uphbgni mgaabrbnt, hbkousb dorebts doy pbrkbgvb gts oktglns os strotbigk. Gt gsocsl plssghcb tfot tfb sflrt dbdlry la dorebt portgkgponts wgcc prbvogc onmtfot Bkuomlr wgcc bnm up poygni o vbry cgdgtbm klst alr gts rbkbnt mbaouct.O dlrb gntbrbstgni qubstgln gs wfbtfbr Bkuomlr‗s conmdore mbkgsgln wgccfovb on gdpokt ln tfb wlregnis la tfb gntbrnotglnoc slvbrbgin mbht dor-ebt. Ga gt mlbs, dorebt portgkgponts doy ontgkgpotb tfbsb oktglns onm rbprgkb

tfb slvbrbgin rgse la kbrtogn bdbrigni dorebt hlrrlwbrs. ]fb rbsuct klucmhb o mry-up la krbmgt sgdgcor tl tfb lnb tfot alcclwbm tfb ?776 Xussgonkrgsgs (Elion onm Cbvy-Wbyotg 8::6).

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818  cg, lcgvorbs-kodgnoc, onm pongzzo

Onnbx

]ohcb ?:O.? Mbht Xotgls la [bcbktbm Clw- onmClwbr-Dgmmcb-Gnkldb Kluntrgbs, 8::9 onm 8::7

Kluntry

]ltoc ZZI mbht/IMZ ]ltoc bxtbrnoc mbht/IMZ

8::9_; 8::7_; 8::9_; 8::7_;

Ochongo :.?11 :.82: :.8=: :.;=9

Oribntgno :.81? :.88: :.=12 :.=?8

Ordbngo :.?== :.;;? :.81? :.2=?

Hofodos, ]fb :.:== :.:12 :.:== :.:12

Hbcorus :.:?7 :.?=2 :.8?; :.;7=

Hlcgvgo :.?1: :.?11 :.;79 :.;=6

Hrozgc :.:2: :.:=9 :.?96 :.?7:

Huciorgo :.??= :.??8 :.7;1 ?.886

Kodbrlln :.??; :.??2 :.??; :.??2

Kfgcb :.:8; :.:81 :.;89 :.=26

Klcldhgo :.??8 :.?88 :.8:7 :.88=

Klsto Xgko :.:1: :.:29 :.878 :.861

Krlotgo :.?26 :.?:2 :.927 ?.:88

Kzbkf Xbpuhcgk :.:96 :.:77 :.;69 :.=;=

Mldgngko :.1=7 ” :.1=7 :.222

Bkuomlr :.88: :.?;2 :.;61 :.86?

Biypt, Oroh Xbp. la :.?1; :.?=: :.8=2 :.?98

Bc [ocvomlr :.8=7 :.82= :.=68 :.=1:

Bstlngo :.:81 :.:27 ?.:91 ?.=?7Btfglpgo :.?8; :.?== :.?8; :.?==

Iblrigo :.?97 :.;89 :.=9: :.912

Flnmuros :.?27 :.?19 :.8;7 :.889

Funiory :.;=6 :.21= ?.??; ?.627

Gnmgo :.:=9 :.:2; :.?92 :.?71

Gnmlnbsgo :.?66 :.?66 :.;81 :.;81

Gsrobc :.?72 :.?=: :.2;: :.=:9Eozoefston :.:8; :.:8? :.677 ?.:;9

Elrbo, Xbp. la :.:;= :.:6? :.;81 :.=79

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ovlgmgni ovlgmohcb mbht krgsbs 81;

]ohcb ?:O.? (klntgnubm)

Kluntry

]ltoc ZZI mbht/IMZ ]ltoc bxtbrnoc mbht/IMZ

8::9_; 8::7_; 8::9_; 8::7_;

Eyriyz Xbpuhcgk :.2;9 :.2;7 :.6:7 :.6;?

Cotvgo :.:=6 :.89; ?.88; ?.999

Cbhonln :.6;1 :.1=; :.6;1 :.1=;

Cgtfuongo :.??8 :.?6: :.116 :.7=6

Dokbmlngo, AWX :.?62 :.88; :.=96 :.1?6

Domoioskor :.8;: :.81= :.8=? :.811

Docoysgo :.:;; :.:?7 :.;8= :.;98Dbxgkl :.:29 :.:6: :.?6; :.8?=

Dlcmlvo :.8:7 :.8?: :.9:2 :.6:2

Ngkoroiuo :.1:9 :.21: :.192 :.1;:

Ngibrgo :.:88 :.:8; :.:88 :.:8;

Zoegston :.819 ” :.868 :.811

Zoroiuoy :.?17 :.861 :.82; :.861

Zbru :.8:? :.?21 :.866 :.89:Zlconm :.?6? :.8:7 :.=7? :.12:

Xussgon Abmbrotgln :.:=? :.:;2 :.;;6 :.;6?

Xwonmo :.?28 :.?;6 :.?96 :.?=2

[clvoe Xbpuhcgk :.?82 :.=:? :.287 :.96:

[clvbngo :.8:? :.867 :.79? ?.?67

[lutf Oargko :.:11 :.:92 :.82= :.89=

]fogconm :.:?: :.:?7 :.8=6 :.8=7

]ungsgo :.;?: :.;:: :.29= :.2=6

]ureby :.?;; :.?2= :.;1; :.=1:

Rionmo :.?;: :.?1? :.?;: :.?1?

Rerognb :.:6: :.8:7 :.2?6 :.677

Rruiuoy :.=8: :.;21 :.==7 :.;67

Wbdbn, Xbp. la :.811 :.8;8 :.811 :.8;8

[lurkb0 Ylrcm Hone‗s _uortbrcy Bxtbrnoc Mbht [totgstgks.

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8   1  =  

]ohcb ?:O.8 [uddory la Agnmgnis la KOGK Oumgt Xbplrt

Agnmgni Lh

Gnkrbosb gn gntbrbst rotbs hy R.[. Abmbroc Xbsbrvb gn cotb?79:s klnstgtutbs gccbioc proktgkb.

Bkuomlr mlbs nlt fovb `urgsmgkdlnbtory plcgky la tfb R.[. A

Klnvbrsgln la okkrubm gntbrbsts gn orrbors gn Zost MubGntbrbst (ZMG) Hromy Hlnms onm Gntbrbst Bquocgzotgln (GB)Hromy Hlnms rbsuctbm gn onotlkgsd (gntbrbst ln gntbrbst)onm gs tfbrbalrb gccbioc.

Klnvbrsgln la okkrubm gntbrbsto nlvotgln la tfb lrgignoc lhgnstrudbnt wgtf gts lwn tbrdgntbrbst rotb gn hlnms gs o kld

[uhdgssgln tl alrbgin klurt `urgsmgktgln gs klntrory tlBkuomlron cow.

[uhdgssgln tl alrbgin klurt `ugntbrnotglnoc slvbrbgin mbht tbxkbptgln gs lhtognbm alr tfoKOGK rbplrt.

Yogvbr la slvbrbgin gddungty gs klntrory tlBkuomlron cow.

Yogvbr la slvbrbgin gddungty slvbrbgin mbht dorebts. Gn tf[totbs, oktgvgtgbs gn wfgkf tfboktgvgty orb klnsgmbrbm os bxkgddungty arld `urgsmgktgln.

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8   1   2  

Dogntogngni o rbcotglnsfgp wgtf ductgcotbroc lriongzotglns gsklntrory tl Bkuomlron cow.

]fb gccbioc proktgkb gs tl oirbb Bkuomlr wgcc dogntogn o alrd

lriongzotglns (tfot gs, tl klntlriongzotglns sukf os tfb GDA

]fb coke la rbigstrotgln la kbrtogn hlnms wgtf tfbR.[. [bkurgtgbs onm Bxkfonib Klddgssgln gs oiognsttfb cow.

Okklrmgni tl R.[. sbkurgtgbs cowgnstgtutglnoc huybrs hy dbonsunrbigstbrbm sbkurgtgbs lutsgmrbqugrbs suhstontgoccy cbss mgssboslngni pbrglm, tfb sbkurgtg

]fb kflgkb la alrbgin ilvbrngni cow gs gccbioc unmbrBkuomlron cow.

]fb kflgkb la o alrbgin ilvbrnhlnm gssuonkbs gs o klddln

o spbkgagk nlrd outflrgzgni gtAlr bxodpcb, tfb Bkuomlr Nl8::7, tl suhdgt gn o dlmgagbmkosf stotbs tfot tfb kflgkb la mbht oaabkts notglnoc slvbrbgisuh`bkt tl Bnicgsf cow, wfgkf

[lurkb0 Outflrs, hosbm ln KOGK 8::6.

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811  cg, lcgvorbs-kodgnoc, onm pongzzo

Nltbs

]fb outflrs tfone Korcls O. Zrgdl Hroio alr gnvgtgni tfbd tl wrgtb tfgs kfoptbr5Ioccgno O. Qgnkbcbttb, Dore C. @. Yrgift, onm on onlnydlus rbabrbb alr fbcpaucklddbnts onm suiibstglns5 onm Dokegb Hofrodg alr fbcp wgtf tfb moto.

  ?. Nlt bvbrylnb wlucm oirbb wgtf tfgs suddory la tfb bdpgrgkoc bvgmbnkb.]ldz (8::9), alr gnstonkb, kcogds tfot rbputotglnoc klnkbrns orb vbry gdplrtont onmmbskrghbs sldb fgstlrgkoc kosbs gn wfgkf mbaouct mgm oaabkt rbputotgln. Elfcskfbbnonm L‗Klnnbcc (8::1) sflw sldb kosbs gn wfgkf tromb krbmgts abcc oatbr mbaoucts hutml nlt prbsbnt o alrdoc tbst lr try tl bstohcgsf kousocgty.

8. ]fb Clnmln Kcuh gs on gnalrdoc irlup la klddbrkgoc hones tfot `lgntlibtfbr tl nbiltgotb tfbgr kcogds oiognst o slvbrbgin mbhtlr.

  ;. Murgni tfb 8::?‛:8 Oribntgnb mbht krgsgs, ?28 sbrgbs la hlnms wbrb ilv-brnbm hy bgift mgaabrbnt cows. ]ronsoktglns orb rucbm hy tfb cow kflsbn hy tfb

portgbs5 gn tfb kosb la o hlnm gssuonkb gt gs tfb gssubr wfl mbkgmbs wfgkf wgcc hb tfboppcgkohcb cow (Lcgvorbs-Kodgnoc 8::2). Gt wos bstgdotbm tfot ot tfb dldbnt latfb mbaouct, Oribntgno fom dlrb tfon 9::,::: krbmgtlrs orlunm tfb iclhb.

=. On gnkgpgbnt tfblrbtgkoc cgtbroturb bxodgnbs wfy hlnm mbht rbstruktur-gni bnmbm up hbgni bosgbr tfon bxpbktbm (Hog onm Pfoni 8::65 Hg, Kfodln, onmPbttbcdbybr 8::6).

  2. Cowsln-Xlhgkfbe toebs gts nodb arld Ngibc Cowsln onm Yoctbr Xlhgkfbe.Gn o ?766 spbbkf ln tfb kurrbnt okklunt mbagkgt la tfb Rngtbm Egnimld, tfbn Kfon-kbcclr la tfb Bxkfbqubr Ngibc Cowsln stotbm tfot tfb plsgtgln la fgs kluntry wosstrlni hbkousb tfb kurrbnt okklunt mbagkgt wos mrgvbn hy prgvotb sbktlr onm nltpuhcgk sbktlr hlrrlwgni. Yoctbr Xlhgkfbe, Mgrbktlr la tfb Ybstbrn Fbdgspfbrb

Mbportdbnt la tfb GDA gn tfb ?76:s, fbcm sgdgcor hbcgbas ln tfb mgaabrbnkb hbtwbbnkurrbnt okklunt mbagkgts mrgvbn hy prgvotb onm puhcgk mbht.  1. Gn aokt, os hoccllngni mldbstgk mbht gs latbn ot tfb rllt la bxtbrnoc mbht

krgsbs (Xbgnfort onm Xlilaa 8::7), wb sflucm fovb hbbn bvbn dlrb odhgtglus onmalkusbm ln hltf mldbstgk onm bxtbrnoc mbht. Yb alkusbm ln bxtbrnoc mbht lncyhbkousb la tfb poukgty la moto ln tltoc (bxtbrnoc onm mldbstgk) puhcgk mbht.

9. ]fb _BM[ gnkcumbs 1: mbvbclpgni kluntrgbs onm tronsgtgln bklnldgbs5 gtfos moto upmotbm tl tfb tfgrm quortbr la 8::7 alr lncy 21 la tfbsb kluntrgbs (sbbonnbx tohcb ?:O.?). ]fb _BM[ klccbkts moto arld twl rbplrtgni systbds, tfb[pbkgoc Moto Mgssbdgnotgln [tonmorm ([MM[) onm tfb Ibnbroc Moto Mgssbdgnotgln[tonmorm (IMM[). [ldb kluntrgbs usb hltf rbplrtgni systbds. ]fb IMM[ alcclwsiugmbcgnbs sgdgcor tl tflsb gn tfb Ylrcm Hone‗s Iclhoc Mbvbclpdbnt Agnonkb5 gtgnkcumbs agiurbs alr tltoc bxtbrnoc, tltoc puhcgk, onm tltoc ZZI clni-tbrd bxtbrnocmbht. Kluntrgbs tfot rbplrt tfbgr motb tfrluif [MM[ gnkcumb mgsoiirbiotb agiurbsalr tfb mbht la tfb ibnbroc ilvbrndbnt, tfb dlnbtory outflrgtgbs, hones, ltfbr sbk-tlrs, onm alrbgin gnvbstlrs. Alr tfbsb kluntrgbs wb kldputbm ZZI mbht hy suddgnitfb mbht la tfb ibnbroc ilvbrndbnt onm tfb dlnbtory outflrgtgbs. Yb rbklingzb tfotgn mlgni sl, wb unmbrbstgdotb tltoc ZZI mbht, os sldb hone onm ltfbr sbktlr mbhtklucm hb iuorontbbm hy tfb puhcgk sbktlr.

6. ]fb Ylrcm Hone‗s Iclhoc Mbvbclpdbnt Agnonkb  klntogns moto ln dlrbtfon ?8: kluntrgbs, hut tfby orb upmotbm lncy tl 8::6.

  7. ]fb gnalrdotgln plstbm gnkcumbm gts lwn mroatbm mlkudbnt lr tflsb prl-vgmbm hy tfb GDA lr gts agnonkgoc omvgsbrs. ]fbsb mroats klvbrbm tfb kluntry‗s bkl-

nldgk plsgtgln, agnonkgoc prl`bktglns, onm mbht sbrvgkgni kopokgty, os wbcc os gssubsrbcotbm tl tfb agnonkgoc plsgtgln la tfb kluntry onm gts auturb prlspbkts.

?:. ]fb lh`bktgvb la tfb KOGK gs tl oumgt tfb prlkbssbs hy wfgkf puhcgk mbht foshbbn gnkurrbm tl mbtbrdgnb gts cbigtgdoky, cbiocgty, tronsporbnky, quocgty, baagkoky,onm baagkgbnky, klnsgmbrgni cbioc onm agnonkgoc ospbkts5 bklnldgkoc, slkgoc, ibnmbr,

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ovlgmgni ovlgmohcb mbht krgsbs 819 

onm bnvgrlndbntoc gdpokts5 onm tfb gdpokts ln notglnocgtgbs onm pblpcb. ]fb oumgtklvbrbm oirbbdbnts, klntrokts, onm ltfbr alrds la puhcgk agnonkgni hbtwbbn ?791onm 8::1.

??. Gn tfb Bkuomlron Nltbflcmbr Kgrkucor motbm Oprgc 8:, 8::7, gt wos stotbmtfot os la Mbkbdhbr ;?, 8::6, tfb tltoc gntbrnoc onm bxtbrnoc mbht rbprbsbntbm81.? pbrkbnt la IMZ, wfgkf wos bosgcy donoibohcb. O 8::6 agnonkgoc rbplrt stotbmtfot –gt gs stgcc mgaagkuct tl oriub tfot Bkuomlr‗s mbht aokbs o sustognohgcgty prlhcbd… tfb kurrbnt sgtuotgln gs trgiibrbm hy o coke la wgccgninbss tl poy (rotfbr tfon ocoke la ohgcgty tl poy)— (Mbutskfb Hone 8::6, p. ?).

?8. Okklrmgni tl on GDA puhcgkotgln, –]fgs aboturb gs gntbnmbm tl igvb hlnm-flcmbrs sldb ossuronkb tfot tfb oiirbiotb odlunt la tfb nbw hlnms wlucm hbrbmukbm tl o donoibohcb sgzb hbalrb tfbgr doturgty motbs wfgcb igvgni Bkuomlracbxghgcgty tl donoib gts mbht prlagcb— (GDA 8::?, p. ;;). Ga Bkuomlr aogcbm tl dbbttfb rbmuktgln toribt, o donmotlry portgoc rbmbdptgln la tfb rbcbvont hlnm wlucmhb trgiibrbm, on odlunt bquoc tl tfb sflrtaocc.

 ?;. Os Zlrzbkonseg (alrtfkldgni) oriubs, tfbrb orb kcbor cgnes hbtwbbn tfbmrlp gn Bkuomlron kbntroc hone rbsbrvbs onm tfb purkfosb la mbht gn tfb sbklnmorydorebt murgni tfb mbaouct pbrglm. Gt gs ocsl occbibm tfot tfb vbfgkcb usbm wos Honklmbc Zokgagkl, oktgni tfrluif o hrlebr.

?=. Bkuomlr occbibmcy donoibm tl okqugrb ohlut foca la tfb tltoc lutstonmgnimbht gn bokf sbrgbs gn tfb sbklnmory dorebt, wfgkf klucm fovb mgstlrtbm tfb rbom-gnis arld tfb lutkldb la tfb huyhoke bxbrkgsb.

?2. Nutdbi trbbs rbqugrb agvb tl bgift ybors tl irlw tl doturgty. Xbklvbry latfb sbktlr wgcc tfbrbalrb toeb tgdb.

?1. Rnmbr tfb sbktgln bntgtcbm –]rbotdbnt la Bcgighcb Kcogds Nlt ]bnmbrbm,—tfb Klddlnwboctf la Mldgngko‗s laabr stotbm tfot –ga ony Bcgighcb Kcogds orb

nlt tbnmbrbm gn klnnbktgln wgtf tfgs Laabr, tfb Ilvbrndbnt gntbnms tl poy tflsbnlntbnmbrbm Bcgighcb Kcogds os onm wfbn rbslurkbs tl ml sl hbkldb ovogcohcb tltfb Ilvbrndbnt. ]fb Ilvbrndbnt mlbs nlt gntbnm, flwbvbr, tl poy ony odluntgn rbspbkt la o nlntbnmbrbm Bcgighcb Kcogd ga, ot tfb tgdb sukf poydbnt gs mub, opoydbnt mbaouct tfbn bxgsts unmbr ony [flrt Hlnm, Gntbrdbmgotb Hlnm lr ClniHlnm.— Alr kcorgagkotgln purplsbs, tfb nbw hlnms gssubm hy Mldgngko os o rbsuct latfb bxkfonib laabr wbrb muhhbm –sflrt hlnms— (?: ybors), –gntbrdbmgotb hlnms—(8: ybors), onm –clni hlnms— (;: ybors) (sbb Klddlnwboctf la Mldgngko Laabr tlBxkfonib Bcgighcb Kcogds alr VKM ;.2 pbrkbnt hlnms mub 8:?=, 8:8=, onm 8:;=,motbm Oprgc 1, 8::=).

?9. Rnmbr Bnicgsf trust mbbms, bnalrkbdbnt plwbr gs vbstbm ln tfb trustbb,

wfl fos tfb rgift tl rbkbgvb tfb poydbnt (gn trust) onm tfbrbalrb tfb rgift tlbnalrkb ony poydbnt. Ga tfb trustbb mbkcgnbs tfb bnalrkbdbnt la tfb mbht gnstrudbnt,hlnmflcmbrs rbklvbr tfbgr bnalrkbdbnt rgifts. Gn klntrost, R.[. trust gnmbnturbsorb klnstrognbm hy §;?1(h) la tfb ]rust Gnmbnturb Okt (]GO) la ?7;7. [bktgln;?1(h) prltbkts tfb hlnmflcmbrs‗ rgifts tl klccbkt prgnkgpoc onm gntbrbst wfbnmub onm tl sub ga nbkbssory wgtflut tfb klnsbnt la ltfbr hlnmflcmbrs gn o klc-cbktgvb bnalrkbdbnt oktgln. ]fus, unmbr Bnicgsf trust mbbms, lncy tfb trustbb konbnalrkb hlnmflcmbrs‗ rgifts (uncbss tfbrb gs o mbkcgnb)5 unmbr R.[. trust gnmbnturbs,tfb hlnmflcmbrs‗ rgift tl sub konnlt hb gdpogrbm hy o quocgagbm nudhbr la krbmg-tlrs. Octfluif tfb ]GO mlbs nlt oppcy tl slvbrbgin hlnms gssubm gn tfb Rngtbm[totbs, nl slvbrbgin stotb morbm gnkcumb o rbstrgktgln ln tfb bnalrkbdbnt rgiftsklntrory tl §;?1(h) la tfb ]GO. Irbnomo wos tfb agrst slvbrbgin tl gnkcumb Bnicgsf

mbbm‛stycb bnalrkbdbnt rgift cgdgtotglns ln o hlnm ilvbrnbm hy Nbw Wlre cow(Hukffbgt onm Eorpgnseg 8::1).

 ?6. [tonmorm & Zllr‗s mlwnirombm tfb burlhlnm (7.?82 pbrkbnt mub 8:??)tl M (mbaouct) onm ossginbm o rbklvbry rotgni la =, gnmgkotgni gts bxpbktotgln la onovbroib rbklvbry la ;:‛2: pbrkbnt ln mbaouctbm mbht.

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816  cg, lcgvorbs-kodgnoc, onm pongzzo

?7. Hbkousb dlnby gs aunighcb, tfb stotbdbnt tfot alrbgin kurrbnky hlrrlwgnisflucm hb cgdgtbm tl prl`bkts tfot bgtfbr mgrbktcy lr gnmgrbktcy ibnbrotb tfb alrbginkurrbnky nbkbssory tl sbrvgkb tfb mbht nbbm nlt hb oppcgbm cgtbroccy. Flwbvbr, wfbn-

bvbr o kluntry hlrrlws ohrlom, gt nbbms tl doeb surb tfot gts bklnldy kon ibnbrotbtfb bxtbrnoc rbslurkbs nbkbssory tl sbrvgkb tfb mbht.8:. ]fb Gntbrnotglnoc Mbvbclpdbnt Osslkgotgln (GMO) usbs tfb Ylrcm Hone‛

GDA Mbht [ustognohgcgty Arodbwlre tl mgvgmb kluntrgbs gntl tfrbb irlups0 rbmcgift, ybcclw cgift, onm irbbn cgift. Kluntrgbs gn tfb agrst irlup orb klnsgmbrbm tl hbot fgif rgse la mbht mgstrbss onm tfus rbkbgvb lncy ironts. Kluntrgbs gn tfb sbklnmirlup orb klnsgmbrbm tl fovb on gntbrdbmgotb rgse la mbht mgstrbss onm rbkbgvb coribtronsabrs, foca gn ironts onm foca gn klnkbssglnoc clons. Kluntrgbs gn tfb tfgrm irluporb klnsgmbrbm tl fovb o clw rgse la mbht mgstrbss onm rbkbgvb bvbn coribr tronsabrs,occ os klnkbssglnoc clons.

8?. Bstgdotbs la clni-run irlwtf orb usuoccy alrducotbm hy prl`bktgni trbnmirlwtf, klntrlccgni alr kluntry kforoktbrgstgks. ]fb prlhcbd wgtf tfgs dbtflmlc-

liy gs tfot tfb klrrbcotgln la irlwtf rotbs okrlss mbkombs gs vbry clw (:.?‛:.;) onmkluntry kforoktbrgstgks tbnm tl hb stohcb (Bostbrcy onm ltfbrs ?77;). ]fbrb gs ocsltfb gssub tfot gn mbvbclpgni kluntrgbs gt gs ocdlst gdplssghcb tl sbporotb tfb husg-nbss kykcb arld tfb trbnm irlwtf (Oiugor onm Ilpgnotf 8::9).

88. Onltfbr prlhcbd rbcotbs tl tfb aokt tfot tfbrb gs o suhstontgoc agxbm klstgnvlcvbm gn krbotgni nbw mbht gnstrudbnts, wfgkf gnmgvgmuoc oibnts fovb cgdgtbmgnkbntgvbs tl poy. Dlrblvbr, tfbsb mbht gnstrudbnts tbnm tl hb kldpcbx, onm nlt occmbht donoibdbnt laagkbs fovb tfb ohgcgty tl bvocuotb tfb klsts onm hbnbagts rbcotbmtl gssugni onm donoigni tfbd. (RNK]OM gs prlvgmgni supplrt tl mbht donoib-dbnt laagkbs gntbrbstbm gn mbvbclpgni slunmbr rgse donoibdbnt tbkfngqubs onmdlvgni tlworm gssugni klntgnibnt mbht gnstrudbnts.) Dlroc fozorm mlbs nlt sbbd

tl hb o prlhcbd, hbkousb gt sbbds uncgebcy tfot plcgky doebrs wlucm vlcuntorgcyrbmukb tfb irlwtf prlspbkts la tfbgr kluntry lr odpcgay tfb baabkts la o noturocmgsostbr gn lrmbr tl cgdgt mbht rbpoydbnts.

8;. Klntgnibnt klntrokts nbbm tl hb gssubm murgni illm tgdbs onm tfbrbalrb wgcckorry on up-arlnt klst.

8=. Oustrocgo, alr bxodpcb, fom tl ohonmln gts sukkbssauc alrbgin bxkfonibstrotbiy oatbr tfb ]rbosury domb corib clssbs gn lnb quortbr. (]fb outflrs tfoneDore C. @. Yrgift alr suiibstgni tfgs bxodpcb.)

 82. Bxgt klnsbnt gs tfb tbkfngqub hy wfgkf flcmbrs la hlnms gn mbaouct wflmbkgmb tl okkbpt on bxkfonib laabr iront tfbgr klnsbnt tl odbnm kbrtogn tbrds latfb hlnms hbgni bxkfonibm. ]fb bxkfonib laabr gs tfus klnmgtglnbm tl o dgngdud

tfrbsflcm la krbmgtlrs‗ okkbptonkb, onm tfb odbnmdbnts tl tfb tbrds orb pbralrdbmlnkb tfb rbqugrbm do`lrgty fos hbbn lhtognbm. Hy dbons la tfbsb odbnmdbnts, tfbmbaouctbm hlnms suh`bkt tl tfb bxkfonib laabr hbkldb cbss ottroktgvb (gn cbioc onmagnonkgoc tbrds), alrkgni o coribr nudhbr la hlnmflcmbrs tl okkbpt tfb bxkfoniblaabr. Ga flcmlut hlnmflcmbrs ml nlt okkbpt tfb bxkfonib laabr, tfby wgcc hb flcm-gni on gdpogrbm hlnm tfot nl clnibr aboturbs sldb la tfb lrgignoc klntroktuocbnfonkbdbnts. Yfbrb tfby orb gnkcumbm gn tfb prlspbktusbs la tfb hlnms, KOKsrbqugrb tfb gntbroktgln la tfb hlnmflcmbrs. ]fbrb orb alur typbs la KOKs0 klccbktgvbrbprbsbntotgln kcousbs, do`lrgty oktgln kcousbs, sforgni kcousbs, onm okkbcbrotglnkcousbs. Do`lrgty oktgln kcousbs fovb hbbn strlnicy pursubm hy tfb laagkgoc sbktlronm dony okombdgks5 tfby wbrb baabktgvbcy gnklrplrotbm gn hlnm gssuonkbs. Do`lr-gty oktgln kcousbs bnohcb tfb odbnmdbnt la ony la tfb tbrds onm klnmgtglns la tfb

hlnms, gnkcumgni tfb poydbnt tbrds, ga tfb rbqugrbm do`lrgty tfbrbgn bstohcgsfbmgs lhtognbm. Gn dlst kluntrgbs tfb rbqugrbm tfrbsflcm tl odbnm tfb tbrds la tfbhlnms klntogngni do`lrgty oktgln kcousbs fos hbbn 92 pbrkbnt la tfb oiirbiotbprgnkgpoc odlunt la tfb lutstonmgni hlnms. Hbcgzb gs tfb lncy kluntry tfot fosrbqugrbm 62 pbrkbnt.

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ovlgmgni ovlgmohcb mbht krgsbs 817

81. ]fb Irlup la 99 wos bstohcgsfbm ln @unb ?2, ?71=, hy tfb –@lgnt Mbk-corotgln la tfb [bvbnty-[bvbn Kluntrgbs,— gssubm ot tfb bnm la tfb agrst sbssglnla RNK]OM gn Ibnbvo. Gt wos alrdbm tl ortgkucotb onm prldltb tfb klccbktgvb

bklnldgk gntbrbsts la gts dbdhbrs, strbnitfbn tfbgr `lgnt nbiltgotgni kopokgty lnocc do`lr gntbrnotglnoc bklnldgk gssubs gn tfb Rngtbm Notglns systbd, onm prl-dltb [lutf-[lutf kllpbrotgln alr mbvbclpdbnt. ]fb dbdhbrsfgp la tfb I-99fos bxponmbm tl ?;: dbdhbr kluntrgbs, hut tfb lrgignoc nodb fos hbbn rbtognbmhbkousb la gts fgstlrgkoc sgingagkonkb.

89. Okklrmgni tl o Nlvbdhbr ?8, ?79?, onnlunkbdbnt hy RNK]OM, –]fbkrgtbrgo onm prlkbmurbs la rbskfbmucgni . . . sflucm hb rbvgbwbm onm rbvgsbm sl ostl bnsurb tfot tfb rbskfbmucgni la mbhts mlbs nlt gntbrabrb wgtf tfb lrmbrcy prl-kbss la mbvbclpdbnt pconngni gn mbhtlr kluntrgbs onm sflucm hb systbdotgkoccymbsginbm tl prbvbnt hltf mgsruptgln la clni-tbrd mbvbclpdbnt pcons onm nbbm alrrbpbotbm rbskfbmucgni. O spbkgoc hlmy sflucm hb krbotbm wgtfgn tfb dokfgnbry laRNK]OM tl agnm proktgkoc slcutglns tl tfb mbht-sbrvgkgni prlhcbds la mbvbclpgni

kluntrgbs.— 86. Irbnomo onm tfb [bykfbccbs fovb plpucotglns la cbss tfon ?::,::: bokf onm

IMZs la cbss tfon $9:: dgccgln. Hbcgzb fos ohlut ;::,::: gnfohgtonts onm o IMZla $?.= hgccgln.

Xbabrbnkbs

Oiugor, Dore, onm Igto Ilpgnotf. 8::9. –Bdbrigni Dorebt Husgnbss Kykcbs0 ]fb

Kykcb Gs tfb ]rbnm.— @lurnoc la Zlcgtgkoc Bklnldy ??2 (?)0 17‛?:8.Orlro, Ocgnno, onm Xlmrgil Lcgvorbs-Kodgnoc. 8::;. –Xbtfgnegni tfb [lvbrbgin

Mbht Xbstrukturgni Opprlokf.— Cow onm Husgnbss Xbvgbw la tfb Odbrgkos 7(=)0 ?:?‛=?.

Hog, Won, onm @gni Pfoni. 8::6. –[lvbrbgin Mbht Xbnbiltgotgln onm [bklnm-ory Dorebt.— Zopbr prbsbntbm ot tfb Klnabrbnkb la tfb [lkgbty alr BklnldgksMynodgks, Hlstln, @ucy ?:‛?8.

Hbn`odgn, Movgm, onm Dore C. @. Yrgift. 8::6. –Xbklvbry hbalrb Xbmbdptgln0 O]fblry la Mbcoys gn [lvbrbgin Mbht Xbnbiltgotglns.— Mbportdbnt la BklnldgksRngvbrsgty la Kocgalrngo ot Cls Onibcbs.

Hg, Xon, Dorkls Kfodln, onm @brldgn Pbttbcdbybr. 8::6. –]fb Zrlhcbd ]fotYosn‗t0 Klccbktgvb Oktgln Zrlhcbds gn [lvbrbgin Mbht Bxkfonibs.— Gntbrno-tglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Hclldhbri. 8::6. –Kutcbr, [bykfbccbs tl Flcm ]oces wgtf GDA Alcclwgni Mbaouctln Nltbs.— [bptbdhbr 2.

Hlrbnsztbgn, Bmuorml, onm Ril Zongzzo. 8::7. –]fb Klsts la Mbaouct.— GDA [toaaZopbrs 21 (=)0 16;‛9=?.

Hukffbgt, Cbb, onm Dgtu Iucotg. 8::8. –[lvbrbgin Hlnms onm tfb Klccbktgvb Ygcc.—Bdlry Cow @lurnoc. 2?0 ?;?9‛1=.

‛‛‛‛‛. 8::7. –]fb Klrlnbr‗s Gnqubst.— Gntbrnotglnoc Agnonkgoc Cow Xbvgbw  87(7)0 88‛82.

Hukffbgt, Cbb, onm Bcgzohbtf Eorpgnseg. 8::1. –Irbnomo‗s Gnnlvotglns.— @lurnocla Gntbrnotglnoc Honegni Cow onm Xbiucotgln =0 889.

‛‛‛‛‛. 8::9. –Hbcgzb‗s Gnnlvotglns.— Gntbrnotglnoc Honegni onm Agnonkb Cow 880896.

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89:  cg, lcgvorbs-kodgnoc, onm pongzzo

Huclw, @brbdy, onm Ebnnbtf Xlilaa. ?767. –O Klnstont Xbklntroktgni Dlmbc la[lvbrbgin Mbht.— @lurnoc la Zlcgtgkoc Bklnldy 79 (?)0 ?22‛96.

KOGK (Kldgsgûn poro co Oumgtlräo Gntbiroc mbc Krçmgtl Zðhcgkl). 8::6. –Agnoc

Xbplrt la tfb Gntbiroc Oumgtgni la tfb Bkuomlrgon Mbht Oumgt.— _ugtl fttp0//www.oumgtlrgombumo.lri.bk/gnmbx.pfp<lptgln4kld\klntbnt&vgbw4ortgkcb&gm467.

Klcb, Forlcm C., onm Zotrgke @. Ebflb. ?776. –Dlmbcs la [lvbrbgin Mbht0 Zortgocvbrsus Ibnbroc Xbputotglns.— Gntbrnotglnoc Bklnldgk Xbvgbw ;7 (?)0 22‛9:.

Mbutskfb Hone. 8::6. –Bkuomlr0 Ln tfb Cgebcgfllm la Mbht Xbstrukturgni.— BD[pbkgoc Zuhcgkotgln, Nlvbdhbr ?9, Iclhoc Dorebts Xbsborkf, Nbw Wlre.

Mäoz-Ocb`onmrl, Korcls A. ?76;. –[tlrgbs la tfb ?7;:s alr tfb ?76:s.— Gn Agnon-kgoc Zlcgkgbs onm tfb Ylrcm Kopgtoc Dorebt0 ]fb Zrlhcbd la Cotgn OdbrgkonKluntrgbs, bm. Zbmrl Ospb Ordbcco, Xumgibr Mlrnhuskf, onm Dourgkb Lhstabcm.Kfgkoil0 Rngvbrsgty la Kfgkoil Zrbss.

Mllcby, Dgkfobc. 8:::. –Gntbrnotglnoc Agnonkgoc Orkfgtbkturb onm [trotbigk Mbaouct0Kon Agnonkgoc Krgsbs Hb Cbss Zognauc<—Kornbigb-Xlkfbstbr Klnabrbnkb [brgbs lnZuhcgk Zlcgky 2; (?)0 ;1?‛99.

Bostbrcy, Ygccgod, Dgkfobc Erbdbr, Cont Zrgtkfbtt, onm Cowrbnkb [uddbrs. ?77;.–Illm Zlcgky lr Illm Cuke< Kluntry Irlwtf Zbralrdonkb onm ]bdplrory[flkes.— @lurnoc la Dlnbtory Bklnldgks ;8 (;)0 =27‛6;.

Botln, @lnotfon, onm Dore Ibrslvgtz. ?76?. –Mbht wgtf Zltbntgoc Xbpumgotgln0]fblrbtgkoc onm Bdpgrgkoc Onocysgs.— Xbvgbw la Bklnldgk [tumgbs  =6 (8)0867‛;:7.

Bklnldgst. 8::9. –Kouift ln Kodbro0 O [bthoke alr Xoaobc Klrrbo.— @ucy 81.

Irlssdon, Fbrskfbc, onm @lfn Qon Fuyke. ?766. –[lvbrbgin Mbht os o KlntgnibntKcogd0 Bxkusohcb Mbaouct, Xbpumgotgln, onm Xbputotgln.— Odbrgkon BklnldgkXbvgbw 96 (2)0 ?:66‛79.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::?. –Gnvlcvgni tfb Zrgvotb [bktlr gn tfbXbslcutgln la Agnonkgoc Krgsgs0 Xbstrukturgni Gntbrnotglnoc [lvbrbgin Hlnms.—Zlcgky Mbvbclpdbnt onm Xbvgbw onm Cbioc Mbportdbnts, Yosfgnitln, MK.

Elion, @lb, onm Bmuorml Cbvy-Wbyotg. 8::6. Iclhoc BD [trotbiy0 Klntoiglnarld Bkuomlr. Xbprgkgni tfb Klst la Mbaouct. Clnmln0 Horkcoys Kopgtoc, IclhocBdbrigni Dorebts [trotbiy, Nlvbdhbr 8?.

Elfcskfbbn, Bdonubc, onm [tbpfbn O. L‗Klnnbcc. 8::1. O [lvbrbgin Mbht Dlmbcwgtf ]romb Krbmgt onm Xbsbrvbs.— Mbportdbnt la Bklnldgks, Rngvbrsgty laYorwgke, Rngtbm Egnimld.

Cbvy-Wbyotg, Bmuorml, onm Ril Zongzzo. Alrtfkldgni. –]fb Bcusgvb Klsts la [lv-brbgin Mbaouct.— @lurnoc la Mbvbclpdbnt Bklnldgks.

Cg, Wubabn. 8:?:. –Klccotbroc Modoib arld tfb Iclhoc Agnonkgoc Krgsgs0 KlucmMbvbclpgni Kluntrgbs Conm gn Onltfbr Xlunm la Mbht Krgsbs<— Gn Xbsplnmgnitl tfb Kfoccbnibs Zlsbm hy tfb Iclhoc Bklnldgk Krgsgs tl Mbht onm Mbvbc-lpdbnt Agnonkb, 22‛99. Ibnbvo0 Rngtbm Notglns Klnabrbnkb ln ]romb onmMbvbclpdbnt.

Dgccbr, Hbn. 8::7. –Bkuomlr Xbstrukturgni0 Gnsgmb @lh.— Cotgn Agnonkb @ucy ?.

Lcgvorbs-Kodgnoc, Xlmrgil. 8::2. –]fb Rsb la Klrplrotb Mbht Xbstrukturgni

]bkfngqubs gn tfb Klntbxt la [lvbrbgin Mbht.— Gntbrnotglnoc Klrplrotb Xbskub8 (2)0 818‛17.

”””. 8:?:. Cbioc Ospbkts la [lvbrbgin Mbht Xbstrukturgni. Clnmln0 [wbbt &Doxwbcc.

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ovlgmgni ovlgmohcb mbht krgsbs 89?

Zongzzo, Ril, Abmbrgkl [turzbnbiibr, onm @brldgn Pbttbcdbybr. 8::7. –]fb Bkl-nldgks onm Cow la [lvbrbgin Mbht onm Mbaouct.— @lurnoc la Bklnldgk Cgtbro-turb =9 (;)0 12?‛76.

Zlrzbkonseg, Orturl. Alrtfkldgni. –Yfbn Hom ]fgnis Foppbn tl Illm [lvbr-bgin Mbht Klntrokts0 ]fb Kosb la Bkuomlr.— Mueb Cow onm KlntbdplroryZrlhcbds. 

Xbgnfort, Kordbn, onm Ebnnbtf Xlilaa. 8::7. ]fgs ]gdb Gs Mgaabrbnt0 Bgift Kbn-turgbs la Agnonkgoc Alccy. Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.

Xlsb, Onmrbw E. 8::2. –Lnb Xbosln Kluntrgbs Zoy ]fbgr Mbhts0 Xbnbiltgotgln onmGntbrnotglnoc ]romb.— @lurnoc la Mbvbclpdbnt Bklnldgks 99 (?)0 ?67‛8:1.

[fcbgabr, Onmrbg. 8::;. –Ygcc tfb [lvbrbgin Mbht Dorebt [urvgvb<— Odbrgkon Bkl-nldgk Xbvgbw 7; (8)0 62‛7:.

]ldz, Dgkfobc. 8::9. Xbputotgln onm Gntbrnotglnoc Kllpbrotgln0 [lvbrbgin Mbht

okrlss ]frbb Kbnturgbs. Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.]ldz, Dgkfobc, onm Dore C. @. Yrgift. 8::9. –Ml Kluntrgbs Mbaouct gn ‖Hom

]gdbs‗<— @lurnoc la tfb Burlpbon Bklnldgk Osslkgotgln 2 (8‛;)0 ;28‛1:.

RNK]OM (Rngtbm Notglns Klnabrbnkb ln ]romb onm Mbvbclpdbnt). ?761. ]rombonm Mbvbclpdbnt Xbplrt ?761. Ibnbvo0 RNK]OM.

”””. 8::?. ]romb onm Mbvbclpdbnt Xbplrt 8::?. Ibnbvo0 RNK]OM.

”””. 8::6. ]romb onm Mbvbclpdbnt Xbplrt 8::6. Ibnbvo0 RNK]OM.

”””. 8:?:. Xbsplnmgni tl tfb Kfoccbnibs Zlsbm hy tfb Iclhoc Bklnldgk Krgsgstl Mbht onm Mbvbclpdbnt Agnonkb. Nbw Wlre onm Ibnbvo0 RNK]OM.

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89;

??

Donoigni [uhnotglnoc Krbmgt

onm Mbaouct XgsesCgcg Cgu onm Dgkfobc Yoghbc 

[

totb onm clkoc ilvbrndbnt mbht onm iuorontbbs alr quosg-puhcgk oibn-kgbs mbht fovb hbbn irlwgni gn gdplrtonkb gn mbvbclpgni kluntrgbs. Gn

Hrozgc suhnotglnoc mbht okklunts alr ohlut ;: pbrkbnt la tltoc puhcgksbktlr nbt mbht.? ]fb mbht la Gnmgon stotbs rbprbsbnts ohlut 89 pbrkbnt laGnmgo‗s IMZ.8 [uhnotglnoc mbht agnonkgni fos hbbn fgstlrgkoccy gdplrtontgn tfb Rngtbm [totbs, wgtf lutstonmgni suhnotglnoc mbht ot $8.;1 trgccglnot tfb bnm la 8::7.; 

]fb gnkrbosgni sforb la suhnotglnoc mbht gn klnslcgmotbm puhcgk mbhtgs nlt cgdgtbm tl abmbroc kluntrgbs. Gn Kfgno urhon gnvbstdbnt kldpongbsfovb hbbn hlrrlwgni arld agnonkgoc gnstgtutglns tl agnonkb corib-skocbgnarostrukturb gnvbstdbnts (Cgu 8::6). Gn Aronkb suhnotglnoc ilvbrndbnts

okklunt alr dlrb tfon 9: pbrkbnt la puhcgk gnvbstdbnt.]fb gnkrbosgni gdplrtonkb la suhnotglnoc mbht rbacbkts, odlni ltfbraoktlrs, tfb gnkrbosgni mbkbntrocgzotgln la spbnmgni rbsplnsghgcgtgbs, toxo-tgln plwbr, onm hlrrlwgni kopokgty tl suhnotglnoc ilvbrndbnts. ]fbunprbkbmbntbm skocb la urhongzotgln gn mbvbclpgni kluntrgbs rbqugrbscorib-skocb gnarostrukturb gnvbstdbnt agnonkgni tl ohslrh dossgvb gnacuxbsla pblpcb arld ruroc orbos. [uhnotglnoc hlrrlwgni agnonkbs gnarostrukturbdlrb bqugtohcy okrlss ductgibnbrotglnoc usbrs la gnarostrukturb sbrvgkbs,os tfb doturgty la mbht sbrvgkb pogm alr hy tfb hbnbagkgorgbs kon dotkf tfbbklnldgk cgab la tfb ossbts tfb mbht gs agnonkgni. Gn proktgkb, flwbvbr, suh-notglnoc ilvbrndbnts latbn ocsl hlrrlw alr kurrbnt bxpbnmgturbs.

Ygtf suhnotglnoc hlrrlwgni kldb tfb rgses la suhnotglnoc gnslcvbnky.= [ystbdgk suhnotglnoc gnslcvbnky doy gdpbmb tfb irlwtf la suhnotglnoc

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89=  cgu onm woghbc

kopgtoc dorebts, kurtogc agskoc spokb alr gnarostrukturb gnvbstdbnts, onmtfrbotbn agnonkgoc stohgcgty onm klrb puhcgk sbrvgkbs, wfgkf doy krbotbprbssurbs ln tfb kbntroc ilvbrndbnt tl prlvgmb agnonkgoc ossgstonkb tl

bnsurb tfb klntgnugni prlvgsgln la bssbntgoc puhcgk sbrvgkbs. Dlrb outln-ldy alr suhnotglnoc ilvbrndbnts gnkrbosbs tfb nbbm alr strlni rbiucotglnalr agskoc rbsplnsghgcgty. Murgni tfb ?77:s suhnotglnoc mbht krgsbs lkkurrbmgn kluntrgbs sukf os Oribntgno, Hrozgc, Dbxgkl, onm tfb Xussgon Abmbro-tgln, wfgkf fovb cbm tl rbalrds tl strbnitfbn rbiucotlry arodbwlres alrsuhnotglnoc hlrrlwgni onm gnslcvbnky.

]fb iclhoc agnonkgoc krgsgs fos fom o prlalunm gdpokt ln suhnotglnocagnonkb okrlss kluntrgbs (Konutl onm Cgu 8:?:o). [uhnotglnoc agnonkbsmbtbrglrotbm okrlss o hrlom ronib la kluntrgbs ot occ gnkldb cbvbcs, octfluif

tfb mbirbb la gdpokt vorgbm. Xotgni oibnkgbs vgbwbm tfb gdpokt la tfb bkl-nldgk mlwnturn ln tfb krbmgt quocgtgbs la suhnotglnoc ilvbrndbnts ossgingagkont hbkousb la mbkcgnbs gn tfb tox hosb, bxpbnmgturb prbssurbs lrrgigmgtgbs, onm irlwgni onm dlrb bxpbnsgvb mbht (Agtkf 8::75 Dllmy‗s8:?:5 [tonmorm & Zllr‗s 8:?:).

]fb aroigcgty la tfb iclhoc rbklvbry onm tfb irlwtf la puhcgk mbhtfovb gnkrbosbm tfb gdplrtonkb la prumbntcy donoigni suhnotglnoc mbaouctrgses. Hbylnm tfb kurrbnt krgsgs, tfb strukturoc trbnms la mbkbntrocgzotglnonm urhongzotgln orb bxpbktbm tl klntgnub wgtf alrkb, rbqugrgni prumbntdonoibdbnt la suhnotglnoc mbaouct rgses.

]fgs kfoptbr mrows cbsslns arld prbvglus bpgslmbs la suhnotglnocagnonkgoc mgstrbss onm tfbgr gntbroktgln wgtf slvbrbgin mbaoucts. Gt poys por-tgkucor ottbntgln tl tfb cbioc onm gnstgtutglnoc prgnkgpcbs unmbrpgnngni tfbmbht-rbstrukturgni onm agskoc om`ustdbnt prlkbss gn suhnotglnoc gnslcvbnkyprlkbbmgnis. Cllegni okrlss kluntrgbs, rbiucotlry arodbwlres alr suhno-tglnoc gnslcvbnky sforb kbntroc aboturbs, octfluif tfb fgstlrgkoc klntbxtonm bntry plgnts alr rbalrd bxpcogn gdplrtont vorgotglns. On gdplrtontlh`bktgvb la tfb rbiucotlry arodbwlre gs tl ommrbss slat humibt klnstrogntsonm tfb prlhcbd la lvbrirozgni la tfb klddln rbslurkbs hy suhnotglnoc

ilvbrndbnts. Agskoc rucbs alr suhnotglnoc ilvbrndbnts lr bx ontb rbiu-cotgln ottbdpt tl cgdgt tfb rgse la suhnotglnoc mbaoucts5 bx plst rbiuco-tgln prbmgktohcy occlkotbs mbaouct rgse wfgcb prlvgmgni hrbotfgni spokb alrlrmbrcy mbht rbstrukturgni onm agskoc om`ustdbnt, os wbcc os tfb klntgnubmmbcgvbry la bssbntgoc puhcgk sbrvgkbs. Flwbvbr, bx ontb onm bx plst rbiuco-tlry systbds oclnb konnlt bnsurb tfb sustognohgcgty la suhnotglnoc mbht.]fb mbvbclpdbnt la gntbrilvbrndbntoc agskoc systbds onm agnonkgoc dor-ebts, wfgkf aoccs lutsgmb tfb sklpb la tfgs kfoptbr, gs bquoccy gdplrtont.

]fb kfoptbr gs strukturbm os alcclws. ]fb nbxt sbktgln prbsbnts tfb

dltgvotgln onm rotglnocb alr rbiucotgni suhnotglnoc mbht agnonkgni. ]fgsdltgvotgln gs kluntry spbkgagk onm sfopbs tfb mbsgin la tfb rbiucotgln.]fb sbklnm sbktgln suddorgzbs rbiucotlry arodbwlres, alkusgni ln agskocrucbs alr suhnotglnoc ilvbrndbnts wgtf rbspbkt tl mbht gssugni, spbkgaygnitfb purplsb, typbs, odlunt, onm prlkbmurbs la mbht agnonkgni. ]fb tfgrm

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 892

sbktgln bxpclrbs eby gssubs gn mbsgingni gnslcvbnky dbkfongsds, bnkopsu-cotbm gn tfb tromb-laa hbtwbbn prltbktgni krbmgtlr‗s klntroktuoc rgifts onmdogntogngni dgngdud puhcgk sbrvgkbs. ]fb cost sbktgln prbsbnts klnkcum-

gni rbdores onm mrows plcgky cbsslns.

Xotglnocb alr Xbiucotgni [uhnotglnoc Mbht Agnonkgni

Gn rbsplnsb tl tfb suhnotglnoc agskoc strbss onm mbht krgsbs la tfb ?77:s,kluntrgbs sukf os Hrozgc, Gnmgo, Dbxgkl, onm tfb Xussgon Abmbrotgln fovbmbvbclpbm rbiucotlry arodbwlres alr suhnotglnoc mbht agnonkgni. [ldbnbwcy mbkbntrocgzgni kluntrgbs, sukf os Zbru, mbvbclpbm arodbwlres alr

suhnotglnoc mbht wfgcb gngtgotgni mbkbntrocgzotgln, hosbm ln cbsslns cbornbmarld ltfbr kluntrgbs ln tfb agskoc rgses osslkgotbm wgtf mbkbntrocgzotgln.Mbvbclpbm kluntrgbs sukf os Aronkb onm tfb Rngtbm [totbs fovb fom tfbgrlwn bxpbrgbnkbs la suhnotglnoc gnslcvbnky, wfgkf cbm tl tfb bstohcgsfdbntla systbds tl rbiucotb tfb rgses.

[uhnotglnoc Mbht Krgsbs

Octfluif bxpbnmgturb-rbvbnub gdhoconkbs doy kousb tfb mbvbclpdbntla suhnotglnoc agskoc strbss, tfb rbiucotlry arodbwlre alr mbht agnonkgniprlalunmcy oaabkts tfb agskoc sustognohgcgty la suhnotglnoc ilvbrndbnts,hbkousb okkuducotgln la agskoc mbagkgts gs abosghcb lncy wfbn tfby fovbhbbn agnonkbm. [ukf agnonkgni kon toeb ductgpcb alrds, gnkcumgni mgrbkthlrrlwgni onm runngni orrbors.

Rnrbiucotbm suhnotglnoc hlrrlwgni irbw ropgmcy gn kluntrgbs sukfos Funiory onm Xussgo gn tfb ?77:s, klntrghutgni tl suhnotglnoc agskocstrbss. Hlrrlwgni hy suhnotglnoc ilvbrndbnts wos ocsl aokgcgtotbm hymbkbntrocgzotgln, wfgkf irontbm suhstontgoc outlnldy gn mbht agnonkgni tlsuhnotglnoc ilvbrndbnts hut aogcbm tl gdplsb form humibt klnstrognts.

Rnrbiucotbm hlrrlwgni gs portgkucorcy rgsey gn on unkbrtogn dokrlbkl-nldgk bnvgrlndbnt, os gccustrotbm hy tfb suhnotglnoc mbht krgsbs gn Xussgo,wfbrb ot cbost 29 la 67 rbiglnoc ilvbrndbnts mbaouctbm ln mbht poydbntshbtwbbn ?776 onm 8::?. Rnabttbrbm dorebt okkbss hy suhnotglnoc hlr-rlwbrs, bspbkgoccy gn nbwcy dgntbm, spbkucotgvb, onm unrbiucotbm sbkurgtydorebts, kon lutpokb tfb mbvbclpdbnt la slunm rbvbnub strbods onm orbiucotlry arodbwlre. Gn portgkucor, alrbgin hlrrlwgni gn on unkbrtogndokrlbklnldgk bnvgrlndbnt wgtf tfb rgse la kurrbnky spbkucotgln kon hbklstcy (Ocod, ]gtlv, onm Zbtbrsbn 8::=). Hbkousb la tfb baabkt la dokrlbkl-

nldgk plcgkgbs, gnkcumgni gntbrbst rotbs onm bxkfonib rotbs, ln suhnotglnocagskoc prlagcbs, tfb rotgni la tfb slvbrbgin typgkoccy hgnms tfb rotgnis la gtssuhnotglnoc bntgtgbs.2 

]fb agskoc mbagkgt gtsbca doy nlt hb o prlhcbd ga hlrrlwgni agnonkbs kopgtocgnvbstdbnt onm bklnldgk irlwtf.1  Flwbvbr, suhnotglnoc ilvbrndbnts

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891  cgu onm woghbc

hlrrlwbm fbovgcy tl agnonkb suhstontgoc lpbrotgni mbagkgts gn kluntrgbssukf os Funiory, Gnmgo, onm Xussgo gn tfb ?77:s, cbomgni tl unsustognohcbmbht potfs. Gn Gnmgo dukf la tfb irlwtf gn stotbs‗ agskoc mbagkgts gn tfb cotb

?77:s wos mrgvbn hy hlrrlwgni tl agnonkb rbvbnub mbagkgts.9 Ot tfb fbgiftla tfb krgsgs, dlrb tfon 9: pbrkbnt la nbw hlrrlwgni wos usbm tl rbagnonkbbxgstgni mbht gn sldb stotbs.6 

Kbrtogn mbht prlagcbs la suhnotglnoc ilvbrndbnts kon fovb gnfbrbntrlcclvbr rgses, wfgkf orb bxokbrhotbm hy dokrlbklnldgk onm agnonkgocsflkes. Hbalrb tfb dokrlbklnldgk krgsgs gn Dbxgkl gn tfb dgm-?77:s onmgn Xussgo gn tfb cotb ?77:s, suhnotglnoc ilvbrndbnts gn tfbsb kluntrgbsfom rgsey mbht prlagcbs”sflrt doturgtgbs, fgif mbht-sbrvgkb rotgls, onmvorgohcb gntbrbst rotbs. ]fb dokrlbklnldgk krgsgs bxplsbm tfb vucnbrohgcgty

la suhnotglnoc ilvbrndbnts tl tfbsb agskoc plsgtglns onm trgiibrbm wgmb-sprbom suhnotglnoc mbht krgsbs.7 

Gdpcgkgt lr klntgnibnt cgohgcgtgbs fovb hbbn o do`lr slurkb la agskocmbtbrglrotgln gn vorglus mbvbclpgni kluntrgbs. Gn tfb cotb ?77:s, iuoron-tbbs hy Gnmgon stotbs tl supplrt dorebt hlrrlwgni la clss-doegni puhcgksbktlr unmbrtoegnis, o klntgnibnt cgohgcgty, irbw ropgmcy. Borcy bpgslmbsla suhnotglnoc mbht mbvbclpdbnt gn tfb ?6=:s gn tfb Rngtbm [totbs sflwflw klntgnibnt cgohgcgtgbs klntrghutbm tl stotbs‗ mbht krgsbs (Yoccgs 8::=).Gdplrtont slurkbs la gdpcgkgt lr klntgnibnt cgohgcgtgbs gnkcumb laa-humibtbntgtgbs wflccy lr coribcy lwnbm hy suhnotglnoc ilvbrndbnts, suhnotglnockgvgc sbrvont pbnsgln cgohgcgtgbs unmbr o poy-os-ylu-il systbd, nlnpbralrd-gni ossbts la agnonkgoc gnstgtutglns lwnbm hy suhnotglnoc ilvbrndbnts, onmmbht agnonkgni tfrluif orrbors unmbr tfb kosf okkluntgni systbd. (Alr osuddory la fgmmbn onm klntgnibnt cgohgcgtgbs gn sbvbroc mbvbclpgni klun-trgbs, sbb Cgu onm Yoghbc 8::1.)

[lat Humibt Klnstrognts

[uhnotglnoc mbht-agnonkgni hbfovglr gs strlnicy gnacubnkbm hy tfb mbsgin

la tfb gntbrilvbrndbntoc agskoc systbd, tfb quocgty la tfb puhcgk agnon-kgoc donoibdbnt systbd, onm tfb strukturb la agnonkgoc dorebts. Dorebtportgkgponts doy tlcbrotb tfb unsustognohcb agskoc plcgky la o suhnotglnocilvbrndbnt ga fgstlry hokes tfbgr pbrkbptgln tfot tfb kbntroc ilvbrndbntgdpcgkgtcy iuorontbbs tfb mbht sbrvgkb la tfb suhnotglnoc ilvbrndbnt (Gon-kflvgkfgno, Cgu, onm Noioro`on 8::9). O iop-agccgni iront tronsabr sys-tbd, alr bxodpcb, gnmukbs suhnotglnoc ilvbrndbnts tl run agskoc mbagkgtshy rbmukgni gnkbntgvbs tl rogsb rbvbnub onm gnkrbosgni gnkbntgvbs tl spbnm.Coke la lwn-slurkb rbvbnubs alr suhnotglnoc ilvbrndbnts gn dony klun-

trgbs unmbrdgnbs tfb ohgcgty la suhnotglnoc ilvbrndbnts tl bnioib gnagskoc klrrbktgln, o klrb bcbdbnt la ony mbht-rbstrukturgni prlkbbmgni.Aurtfbrdlrb, o kldpbtgtgvb kopgtoc dorebt prgkbs rgses onm rbturns lasuhnotglnoc cbnmgni, fbcpgni skrbbn onm mgskgpcgnb suhnotglnoc hlrrlw-gni. ]fgs dorebt mgskgpcgnb klucm hb unmbrdgnbm hy tfb mldgnonkb la

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 899 

cbnmgni tl suhnotglnoc ilvbrndbnts hy puhcgk hones. Ohlcgsfgni kbntrocilvbrndbnt‗s bxpcgkgt iuorontbbs alr suhnotglnoc mbht gs nlt suaagkgbntalr nurturgni tfb mbvbclpdbnt la kopgtoc dorebts, os o ronib la aoktlrs,

gnkcumgni gdpcgkgt iuorontbbs, oaabkt mbdonm onm suppcy gn tfb dungkgpocagnonkb dorebt.

[lat humibt klnstrognts, o eby ospbkt la agskoc gnkbntgvbs, occlw suh-notglnoc ilvbrndbnts tl cgvb hbylnm tfbgr dbons, nbiotgni kldpbtgtgvbgnkbntgvbs onm alstbrgni klrruptgln onm rbnt-sbbegni (sbb Ybgniost 8::9alr o suddory la tfb cgtbroturb wgtfgn tfb klntbxt la sbklnm-ibnbrotglnagskoc abmbrocgsd). Rnklnmgtglnoc hogcluts la agnonkgoccy trluhcbm suhno-tglnoc bntgtgbs hy tfb notglnoc ilvbrndbnt krbotb dlroc fozorm onm tfbgdpcgkotgln la o slvbrbgin iuorontbb, wfgkf bnkluroib agskoc grrbsplnsghgc-

gty onm gdprumbnt cbnmgni. Gn tfb Rngtbm [totbs, tfb nl-hogclut prgnkgpcbwos bstohcgsfbm murgni tfb agrst suhnotglnoc mbaoucts gn tfb ?6=:s (Bnicgsf?7715 Yoccgs 8::=). Gn Funiory, lnb dltgvotgln alr bstohcgsfgni o rbiu-cotlry arodbwlre alr suhnotglnoc honeruptky wos tl rbmukb dlroc foz-orm, gdplsb o form humibt klnstrognt ln dungkgpocgtgbs, sfrgne klntgnibntcgohgcgtgbs la tfb kbntroc ilvbrndbnt, onm kfonib tfb pbrkbptgln odlnicbnmbrs tfot tfbrb wos on gdpcgbm slvbrbgin iuorontbb (@ûeoy, [zbpbsg, onm[zdbtono 8::=). Oatbr rbpbotbmcy hogcgni lut suhnotglnoc ilvbrndbnts,Hrozgc omlptbm o strgktbr opprlokf, mbdonmgni suhnotglnoc agskoc om`ust-dbnt gn rbturn alr agskoc rbcgba (hlx ??.?).

Hlx ??.? [uhnotglnoc Mbht Krgsgs onm Xbalrds gn Hrozgc

Hrozgc suhstontgoccy strbnitfbnbm gts bx ontb rbiucotglns gn rbsplnsb tlrbpbotbm wovbs la suhnotglnoc mbht krgsbs. [totutlry klntrlcs ln suhno-tglnoc hlrrlwgni fovb ocwoys bxgstbm gn Hrozgc”klntrlcs ln nbw hlr-

rlwgni onm tfb tltoc stlke la mbht, bxprbssbm os pbrkbntoibs la rbvbnub”hut suhnotglnoc ilvbrndbnts fom hbbn krbotgvb gn bvomgni tfbd. ]fbrbiucotglns wbrb strbnitfbnbm gn tfb cotb ?77:s, cbomgni tl tfb ungay-gni arodbwlre gn 8:::. ]fb abmbroc ilvbrndbnt hogcbm lut suhnotglnocmbhtlrs gn borcgbr krgsbs, hut rbslcutgln la tfb tfgrm mbht krgsgs gn ?779wos klnmgtglnbm ln stotbs unmbrtoegni mgaagkuct agskoc onm strukturoc rb-alrds. Rnklnmgtglnoc hogcluts wbrb ovlgmbm gn ?779 gn lrmbr tl rbslcvbdlroc fozorm. ]fb strbnitfbnbm bx ontb hlrrlwgni rbiucotglns wbrbbdhbmmbm gn tfb mbht-rbstrukturgni oirbbdbnts hbtwbbn 82 stotbs onmtfb abmbroc ilvbrndbnt gn ?779, sonktglnbm hy cbigscotgln. ]fb 8:::

Agskoc Xbsplnsghgcgty Cow klnslcgmotbm vorglus pgbkbs la cbigscotgln gntllnb ungaygni arodbwlre.

[lurkbs0 Mgccgnibr 8::85 Ybhh 8::=.

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896  cgu onm woghbc

Efbdong (8::8) tbsts tfb prbmgktglns gdpcgbm hy tfb klddln pllciodb gn abmbrotglns, wfbrb suhnotglnoc ilvbrndbnts orb dlrb cgebcy tlrun fgifbr mbagkgts, hbkousb tfby ml nlt gntbrnocgzb tfb dokrlbklnldgk

baabkts la agskoc prlacgioky. [fb agnms tfot gn ?2 do`lr stotbs gn Gnmgo lvbr?798‛72, stotbs fovb suhstontgoccy fgifbr spbnmgni onm mbagkgts (fgifbr hyohlut ?: pbrkbnt la tfb sodpcb ovbroib) wfbn tfbgr ilvbrndbnt hbclnibmtl tfb sodb porty os tfot ilvbrngni ot tfb kbntbr onm tfot gntbrilvbrndbn-toc ironts tbnm tl fovb o (kluntbrgntugtgvb) nbiotgvb baabkt ln spbnmgni onmmbagkgts. ]fbsb agnmgnis unmbrsklrb tfb gdplrtonkb la plcgtgkoc gnstgtutglnsgn mbtbrdgngni tfb klnslcgmotbm ilvbrndbnt mbagkgt rbcotgvb tl spbkgagkrucbs la gntbrilvbrndbntoc tronsabrs. O suhstontgoc rbalrd unmbrtoebn hyGnmgon stotbs gn tfb borcy tl dgm-8:::s wos tfb bnoktdbnt la agskoc rbspln-

sghgcgty cbigscotgln.Cbioc onm rbiucotlry arodbwlres alr suhnotglnoc mbht agnonkgni sbrvb

os o klddgtdbnt mbvgkb tl occlw sukf ilvbrndbnts tl okkbss tfb agnonkgocdorebt wgtfgn o klddln arodbwlre. On gnmgvgmuoc suhnotglnoc ilvbrn-dbnt doy omlpt unsustognohcb agskoc plcgkgbs alr o vorgbty la rboslns.Gnfbrbnt gnkbntgvbs bxgst alr gt tl arbb rgmb, os gt hbors lncy port la tfb klstonm rbops occ la tfb hbnbagts la unsustognohcb agskoc plcgkgbs. Xbocgzgni tfbsbhbnbagts mbpbnms ln illm agskoc hbfovglr hy dlst la tfb ltfbr suhnotglnocilvbrndbnts. Klccbktgvbcy, tfbrbalrb, ilvbrndbnts hbnbagt arld o systbdla rucbs tfot mgskluroib mbabktgln onm arbb rgmgni. ]fgs klddgtdbnt mbvgkbklntrlcs onm kllrmgnotbs suhnotglnoc ilvbrndbnts gn vorglus clkocgtgbsonm okrlss tgdb tl klddgt auturb ilvbrndbnts tl o klddln hlrrlwgniarodbwlre (Ybhh 8::=).

Mbvbclpgni Xbiucotlry Arodbwlres

]fb dltgvotglns alr mbvbclpgni rbiucotlry arodbwlres mgaabr sgingagkontcyokrlss kluntrgbs, rbacbktgni o kluntry‗s plcgtgkoc, bklnldgk, cbioc, onm fgs-tlrgkoc klntbxt onm trgiibrgni bvbnts. ]fbsb mgaabrbnkbs oaabkt tfb bntry

plgnt alr rbalrd, tfb arodbwlre‗s mbsgin, onm gts rbcotgln tl suhnotglnochlrrlwgni cbigscotgln. Gn portgkucor, tfb arodbwlres alr suhnotglnoc mbhtagnonkgni onm rbstrukturgni mbagnb tfb rlcbs la mgaabrbnt hronkfbs onm tgbrsla ilvbrndbnt5 o kluntry‗s plcgtgkoc onm bklnldgk fgstlry pcoys o eby rlcbgn sfopgni tfb mbsgin.

Kfoptbr 7 la tfb Honeruptky Klmb la tfb Rngtbm [totbs (?7;9), alrbxodpcb, wos klnkbgvbm wgtf tfb norrlw lh`bktgvb la rbslcvgni tfb flcm-lut prlhcbd, oiognst tfb hokeirlunm la o doturb gntbrilvbrndbntoc agskocsystbd onm o dorebt-lrgbntbm agnonkgoc systbd.?: Octfluif tfb R.[. systbd

laabrs o vocuohcb rbabrbnkb, gt konnlt hb klpgbm wgtflut korb. ]fb Dungkg-poc Agnonkb Donoibdbnt Okt la [lutf Oargko (8::;) wos gntbnmbm tlommrbss o nudhbr la kfoccbnibs, gnkcumgni tfb mbvbclpdbnt la o mgvbrsgagbmonm kldpbtgtgvb suhnotglnoc krbmgt dorebt ([lutf Oargko Notglnoc ]rbo-sury 8::?). ]fb Funiorgon Cow ln Dungkgpoc Mbht Om`ustdbnt (?771)

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 897

sluift tl gdplsb o form humibt klnstrognt ln suhnotglnoc ilvbrndbnts,bstohcgsf o tronsporbnt rucb-hosbm mbht-rbstrukturgni prlkbmurb wgtflutom flk plcgtgkoc gntbrvbntglns, onm rbhut tfb prbsudptgln la ony gdpcgbm

slvbrbgin iuorontbb.[uhnotglnoc mbaouct rgse kon hb donoibm tfrluif twl kfonnbcs0 agskoc

rucbs alr suhnotglnoc ilvbrndbnts wgtf rbspbkt tl mbht agnonkgni (tfot gs,bx ontb rbiucotgln la hlrrlwgni onm dlngtlrgni la tfb suhnotglnoc agskocplsgtgln) onm bx plst mbht rbstrukturgni gn tfb bvbnt tfot suhnotglnoc ilv-brndbnts hbkldb gnslcvbnt. Xbiucotlry arodbwlres gn dony kluntrgbs orbstgcc bvlcvgni, onm tfb pokb la puttgni tlibtfbr o aucc ronib la rbiucotlrybcbdbnts vorgbs.

Bx ontb agskoc rucbs onm bx plst gnslcvbnky dbkfongsds kldpcbdbnt lnb

onltfbr. Gnslcvbnky dbkfongsds gnkrbosb tfb pogn la kgrkudvbntgni bx ontbagskoc rucbs alr cbnmbrs onm suhnotglnoc hlrrlwbrs, tfbrbhy bnfonkgni tfbbaabktgvbnbss la prbvbntgvb rucbs. Ygtflut gnslcvbnky dbkfongsds, bx ontbrbiucotglns klucm cbom tl bxkbssgvb omdgngstrotgvb klntrlc onm iodb pcoy-gni hbtwbbn tfb kbntroc onm suhnotglnoc ilvbrndbnts.?? Lvbrrbcgonkb ln bxontb rbiucotglns klucm cgdgt tfb rlcb la dorebts gn dlngtlrgni suhnotglnochlrrlwgni onm mbht, flwbvbr. Gn Konomo onm tfb Rngtbm [totbs, dorebtspcoy o vgtoc rlcb gn tfb survbgcconkb la suhnotglnoc hlrrlwgni. Octfluif gttoebs tgdb tl mbvbclp dorebt systbds, mbvbclpgni kluntrgbs kon iromuoccyalstbr tfb rlcb la tfb dorebt gn tfb mbsgin la rbiucotlry arodbwlres.?8

Agskoc Xucbs alr [uhnotglnoc Mbht Agnonkgni0Bx Ontb Xbiucotgln

Agskoc rucbs alr suhnotglnoc mbht agnonkgni mboc wgtf mbht-gssugni prlkb-murbs. ]fby spbkgay tfb purplsb, typb, odlunt, prlkbmurbs, onm dlngtlrgnila mbht agnonkgni. Xbiucotlry arodbwlres alr suhnotglnoc mbht agnonkgnifovb hbbn strbnitfbnbm gn vorglus kluntrgbs (tohcb ??.?).

Cgu onm Yoghbc (8::6) gmbntgay sbvbroc klddln bcbdbnts gn bx ontbhlrrlwgni rbiucotgln okrlss sbvbroc kluntrgbs. Agrst, hlrrlwgni gs occlwbmlncy alr clni-tbrd puhcgk kopgtoc gnvbstdbnts. [ldb Burlpbon kluntrgbs,sukf os Ibrdony onm tfb Rngtbm Egnimld, fovb bnoktbm agskoc rucbs rbqugr-gni o hoconkbm humibt nbt la puhcgk gnvbstdbnt (tfb –ilcmbn rucb—).?; ]fgsrucb rbklingzbs tfot lncy sukf hlrrlwgni gs hbnbagkgoc (onm doy hb gn tfbgntbrbst la auturb ibnbrotglns). O nudhbr la dgmmcb-gnkldb kluntrgbs,gnkcumgni Hrozgc, Klcldhgo, Gnmgo, Zbru, Xussgo, onm [lutf Oargko, fovbrbkbntcy omlptbm tfb ilcmbn rucb (sbb Cgu onm Yoghbc 8::6 alr mbtogcs).

[bklnm, tfb arodbwlres sbt cgdgts ln eby agskoc vorgohcbs, sukf os tfbagskoc mbagkgt, tfb prgdory mbagkgt, mbht sbrvgkb rotgls, onm kbgcgnis ln iuor-ontbbs gssubm. Gn Gnmgo tfb ?8tf Agnonkb Klddgssgln donmotbm agskocrbsplnsghgcgty cbigscotgln alr occ stotbs, wgtf tfb rbvbnub mbagkgt tl hb bcgdg-notbm onm tfb agskoc mbagkgt rbmukbm tl ; pbrkbnt la irlss stotb mldbstgk

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86:  cgu onm woghbc

prlmukt (I[MZ) hy agskoc 8::7.?= Klcldhgo bstohcgsfbm o troaagk-cgiftsystbd tl rbiucotb suhnotglnoc hlrrlwgni (Cow ;26 gn ?779 onm tfb Agskoc]ronsporbnky onm Xbsplnsghgcgty Cow gn 8::;). [uhnotglnoc ilvbrndbntsrotbm gn tfb rbm-cgift zlnb orb prlfghgtbm arld hlrrlwgni5 tflsb gn tfbirbbn-cgift zlnb orb pbrdgttbm tl hlrrlw. ]fb rbm-cgift zlnb gs rbokfbmwfbn tfb gntbrbst tl lpbrotglnoc sovgnis rotgl gs irbotbr tfon =: pbrkbntonm tfb mbht stlke tl kurrbnt rbvbnubs rotgl gs irbotbr tfon 6: pbrkbnt. GnHrozgc tfb mbht-rbstrukturgni oirbbdbnts hbtwbbn tfb abmbroc ilvbrndbnt

onm tfb stotbs bstohcgsfbm o kldprbfbnsgvb cgst la agskoc toribts, gnkcumgnitfb mbht tl rbvbnub rotgl, prgdory hoconkb, pbrslnnbc spbnmgni, onm o cgstla stotb-lwnbm bntbrprgsbs lr hones tl hb prgvotgzbm lr klnkbssglnbm. Gntfb Rngtbm [totbs, stotbs sbt hlrrlwgni cgdgts alr tfbdsbcvbs onm, wgtf oabw bxkbptglns, alr tfbgr clkoc ilvbrndbnts.

]fgrm, sbvbroc cbioc arodbwlres, sukf os tflsb gn Hrozgc, Klcldhgo,onm Zbru, gnkcumb prlkbmuroc rbqugrbdbnts tfot suhnotglnoc ilvbrndbntsbstohcgsf o dbmgud-tbrd agskoc arodbwlre onm o tronsporbnt humibtoryprlkbss. ]fgs rbqugrbdbnt gs gntbnmbm tl bnsurb tfot agskoc okklunts dlvb

wgtfgn o sustognohcb mbht potf onm tfot agskoc om`ustdbnt toebs o dbmgud-tbrd opprlokf tl hbttbr rbsplnm tl sflkes onm mgaabrgni tro`bktlrgbs alr ebydokrlbklnldgk vorgohcbs tfot oaabkt suhnotglnoc agnonkb. ]fb tronsporbnthumibtory prlkbss aokgcgtotbs mbhotbs hy bxbkutgvb onm cbigscotgvb hronkfbsln spbnmgni prglrgtgbs, aunmgni slurkbs, onm rbqugrbm agskoc om`ustdbnts.

]ohcb ??.? Agskoc Xucbs alr [uhnotglnoc Mbht Agnonkgni, hy[bcbktbm Kluntry

Kluntry XucbHrozgc Agskoc Xbsplnsghgcgty Cow (8:::)

Klcldhgo Cow ;26 (?779), Cow 1?9 (8:::), Agskoc ]ronsporbnkyonm Xbsplnsghgcgty Cow (8::;)

Aronkb Qorglus hlrrlwgni rbiucotglns onm hoconkbm humibt rucbs

Gnmgo [totbs Agskoc Xbsplnsghgcgty onm Humibt Donoibdbnt Okts,alcclwgni tfb rbklddbnmotglns la tfb ?8tf AgnonkbKlddgssgln

Zbru Agskoc Xbsplnsghgcgty onm ]ronsporbnky Cow (8::;),Ibnbroc Mbht Cow (8::2)

Zlconm Zuhcgk Agnonkb Cow (8::2)

[lutf Oargko Dungkgpoc Agnonkb Donoibdbnt Okt (8::;)

]ureby Qorglus rbiucotglns sgnkb 8:::

Rngtbm [totbs [totbs‗ rbiucotgln

[lurkbs0 Cgu onm Yoghbc 8::65 lnilgni rbsborkf hy tfb outflrs.

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 86?

Agskoc tronsporbnky gs gnkrbosgnicy hbkldgni on gntbirotbm port laagskoc arodbwlres. ]ronsporbnky gnkcumbs fovgni on gnmbpbnmbnt oumgt lasuhnotglnoc agnonkgoc okklunts, doegni pbrglmgk puhcgk mgskclsurbs la eby

agskoc moto, bxplsgni fgmmbn cgohgcgtgbs, onm dlvgni laa-humibt cgohgcgtgbsln humibt. Gn Hrozgc, alr bxodpcb, Ortgkcb =6 la tfb Agskoc XbsplnsghgcgtyCow (8:::) bnsfrgnbs agskoc tronsporbnky os o eby kldplnbnt la tfb nbwarodbwlre. Zrlplsocs, cows, onm okklunts orb tl hb wgmbcy mgstrghutbm,gnkcumgni tfrluif tfb usb la bcbktrlngk dbmgo (occ rbplrts orb domb ovogc-ohcb ln tfb Ybh sgtb la tfb Dgngstry la tfb ]rbosury). Ortgkcb 2= rbqugrbstfot occ cbvbcs la ilvbrndbnt puhcgsf quortbrcy agskoc donoibdbnt rbplrtstfot klntogn tfb do`lr agskoc vorgohcbs onm gnmgkotb kldpcgonkb wgtfagskoc toribts. Zursuont tl Ortgkcb 29, tfb rbplrt gs tl hb kbrtgagbm hy tfb

oumgt klurts.Agskoc rucbs alr suhnotglnoc mbht agnonkgni kon hb supplrtbm hy rbiuco-

tglns ln cbnmbrs. ]l gdprlvb agskoc tronsporbnky, Dbxgkl gntrlmukbm okrbmgt-rotgni systbd alr suhnotglnoc ilvbrndbnts. Octfluif suhnotglnocportgkgpotgln gs vlcuntory, tfb rbqugrbdbnts la tfb kopgtoc-rgse wbgiftgni lahone clons gntrlmukbm gn 8::: onm la clss prlvgsglns gntrlmukbm gn 8::=ogd ot gdplsgni suhnotglnoc agskoc mgskgpcgnb tfrluif tfb dorebt prgkgnila suhnotglnoc krbmgt. Gn Klcldhgo tfb Agskoc ]ronsporbnky onm Xbspln-sghgcgty Cow (8::;) tgiftbnbm tfb rbiucotglns ln tfb suppcy sgmb. Cbnm-gni tl suhnotglnocs hy agnonkgoc gnstgtutglns onm tbrrgtlrgoc mbvbclpdbntgnstgtutglns dust dbbt tfb klnmgtglns onm cgdgts la vorglus rbiucotglns,sukf os Cows 1?9 onm 6?9. Ga gt mlbs nlt, tfb krbmgt klntrokt gs gnvocgmonm hlrrlwbm aunms dust hb rbstgtutbm prldptcy wgtflut gntbrbst lr onyltfbr kforibs.

Klntrlc onm dlngtlrgni dbkfongsds kon suhstontgoccy rbmukb tfb rgsela gnslcvbnky. ]wl klntrostgni bxodpcbs orb prbsbntbm hbclw0 Aronkb, oungtory kluntry, onm tfb stotb la Lfgl gn tfb Rngtbm [totbs, o abmbroc klun-try, wfbrb clkoc ilvbrndbnts orb plcgtgkoc suhmgvgsglns la tfb stotbs.

Nltwgtfstonmgni klnsgmbrohcb agskoc outlnldy la suhnotglnoc ilv-

brndbnts, tfb kbntroc stotb gn Aronkb bxbrkgsbs strlni supbrvgsgln onmdlngtlrgni la suhnotglnoc ilvbrndbnts‗ agnonkgoc okklunts tfrluif tfrbbgnstgtutglns0 tfb prbabkt, tfb kfodhrbs rçiglnocbs mbs kldptbs  (rbiglnockfodhbrs la okklunts UKXKT), onm puhcgk okkluntonts. Gn tfb kosb la ohumibt mbagkgt, cotb opprlvoc, lr nlnhumibtbm donmotlry bxpbnsbs (sukfos mbht sbrvgkb), tfb prbabkt (os wbcc os ony gntbrbstbm pbrsln) kon rbabr tfbkosb tl tfb KXK. Ga tfb suhnotglnoc ilvbrndbnt mlbs nlt alcclw tfb rbk-lddbnmotglns domb hy tfb KXK, tfb prbabkt kon omlpt tfb humibt. ]fbKXK ocsl bxbrkgsbs agnonkgoc supbrvgsgln.

]fb eby bcbdbnt la gntbrnoc klntrlc gn Aronkb gs tfb sbporotgln la mbkg-sgln doegni (fonmcbm hy tfb prbsgmbnt la tfb clkoc ilvbrndbnt klunkgc,wfl klntrokts bxpbnmgturb) arld oktuoc poydbnt (fonmcbm hy tfb puhcgkokkluntont, wfl gs port la tfb kbntroc ilvbrndbnt). ]fgs sbporotgln dbonstfot tfbrb orb twl sbts la mbportdbntoc okklunts, wfgkf dust toccy. Zuhcgk

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868  cgu onm woghbc

okkluntonts tfbdsbcvbs orb suh`bkt tl oumgt onm klntrlc hy tfb kbntrocilvbrndbnt.

]fb Agskoc Yotkf Zrlirod gn Lfgl, gdpcbdbntbm hy tfb Laagkb la Oumg-

tlr la [totb, okts os on borcy worngni systbd tl prbvbnt clkoc ilvbrndbnts,gnkcumgni kluntgbs, dungkgpocgtgbs, skfllc mgstrgkts, onm stotb ungvbrsgtgbsonm klccbibs, arld scgppgni gntl agskoc mgstrbss.?2 O clkoc ilvbrndbnt tfotgs opprlokfgni o stotb la agskoc bdbribnky, os mbagnbm hy spbkgagk agnonkgocgnmgkotlrs, gs pcokbm unmbr tfb agskoc wotkf prlirod.

O clkoc ilvbrndbnt unmbr tfb prlirod toebs agskoc klrrbktgvb oktglns.]fb agskoc wotkf rbdogns gn baabkt untgc tfb oumgtlr mbtbrdgnbs tfot tfbklnmgtglns orb nl clnibr prbsbnt onm konkbcs tfb wotkf lr untgc tfb oumg-tlr mbtbrdgnbs tfot tfb clkoc ilvbrndbnt hb pcokbm unmbr tfb agskoc bdbr-

ibnky prlirod unmbr tfb prbmbagnbm agskoc gnmgkotlrs. O klddgssgln wgcchb alrdbm alr o clkoc ilvbrndbnt unmbr tfb agskoc bdbribnky prlirod,tl ossgst gn prbporgni onm gdpcbdbntgni o clni-tbrd agnonkgoc rbklvbrypcon okkbptbm hy hltf tfb clkoc ilvbrndbnt onm tfb klddgssgln. ]fbOumgtlr la [totb‗s Laagkb sbrvbs os agnonkgoc supbrvgslr tl tfb klddgssglnonm prlvgmbs tbkfngkoc supplrt onm omvgkb. Gt ocsl bxodgnbs tfb systbd lailvbrndbntoc okkluntgni onm rbplrtgni onm gmbntgagbs gdprlvbdbnts tfotnbbm tl hb domb gn o rbplrt.

]fb klddgssgln stlps gts oktgvgty unmbr twl klnmgtglns. ]fb agrst gs tfbbcgdgnotgln la tfb agskoc bdbribnky klnmgtglns tfot prldptbm tfb gngtgocmbkcorotgln onm tfb omlptgln hy tfb clkoc ilvbrndbnt la tfb nbkbssorygdprlvbdbnts gn gts okkluntgni onm rbplrtgni systbd. ]fb sbklnm gs tfbokfgbvbdbnt hy tfb clkoc ilvbrndbnt la tfb lh`bktgvbs sbt alrtf hy tfbagnonkgoc rbklvbry pcon onm tfb prbporotgln la o agvb-ybor agnonkgoc alrb-kost tfot dbbts tfb bvocuotgln krgtbrgo la tfb Oumgtlr la [totb. Ga tfb agskocbdbribnky gs tbrdgnotbm hbalrb tfbsb klnmgtglns orb dbt, tfb Oumgtlr la[totb gs rbqugrbm tl dlngtlr tfb prlirbss la tfb ilvbrndbnt tl bnsurb auccgdpcbdbntotgln la on baabktgvb okkluntgni systbd onm tfb bcgdgnotgln latfb bdbribnky klnmgtglns.

Xbiucotlry Arodbwlres alr [uhnotglnoc MbhtAgnonkgni0 Gnslcvbnky Dbkfongsds

Bx plst rbiucotgln mbocs wgtf gnslcvbnt suhnotglnoc ilvbrndbnts.?1 Nlt-wgtfstonmgni agskoc rucbs alr bx ontb klntrlc, mbaoucts kon lkkur os o rbsuctla o suhnotglnoc‗s lwn agskoc dgsdonoibdbnt lr os o rbsuct la dokrlbkl-nldgk lr bxlibnlus sflkes. O wbcc-mbsginbm gnslcvbnky dbkfongsd sbrvbs

ductgpcb lh`bktgvbs0 gt bnalrkbs form humibt klnstrognts ln suhnotglnocilvbrndbnts, dogntogns bssbntgoc sbrvgkbs wfgcb rbstrukturgni mbht, onmrbstlrbs tfb agnonkgoc fboctf la tfb suhnotglnoc ilvbrndbnt sl tfot gt doyrbbntbr tfb agnonkgoc dorebt.

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 86;

]fb nbbm alr o klccbktgvb arodbwlre alr rbslcvgni mbht kcogds gs mrgvbnhy klnacgkts hbtwbbn krbmgtlrs onm tfb mbhtlr onm odlni krbmgtlrs. Gnmg-vgmuoc krbmgtlrs doy fovb mgaabrbnt gntbrbsts onm sbkurgty prlvgsglns alr

tfb mbht lwbm tl tfbd5 tfby doy mbdonm prbabrbntgoc trbotdbnt onmtfrbotbn tl mbrogc mbht rbstrukturgnis vlcuntorgcy nbiltgotbm hbtwbbn odo`lrgty la krbmgtlrs onm tfb suhnotglnoc mbhtlr”tfb sl-koccbm flcmlutprlhcbd (DkKlnnbcc onm Zgkebr ?77;). Gnmgvgmuoc om flk nbiltgotglns orbklstcy, gdproktgkohcb, onm fordauc tl tfb gntbrbsts la o do`lrgty la krbmg-tlrs. ]fb flcmlut prlhcbd gs cbss sbrglus ga mbhts orb klnkbntrotbm gn o abwhones. O klccbktgvb arodbwlre alr gnslcvbnky rbstrukturgni toebs ln dlrbgdplrtonkb os suhnotglnoc hlnm dorebts, wgtf tflusonms la krbmgtlrs, orbdlrb mbvbclpbm.

Kcbor krbmgtlr rbdbmgbs occlw klccbktgvb bnalrkbdbnt onm aokgcgtotb baag-kgbnt mbht om`ustdbnt. Krbmgtlrs‗ rbdbmgbs gn klntrokt cows, rotfbr tfonhoneruptky dbkfongsds, orb baabktgvb ot bnalrkgni mgskrbtb unpogm lhcgio-tglns. Flwbvbr, gnmgvgmuoc cowsugts lr nbiltgotglns hbkldb gnbaabktgvb gatfbrb gs o ibnbroc gnohgcgty tl poy. ]fgs flcmlut prlhcbd kousbs unkbrtogntyonm prlclnis tfb mbht-rbstrukturgni prlkbss. Xbslcvgni tfb flcmlut prlh-cbd wos tfb prgdory dltgvotgln hbfgnm tfb Rngtbm [totbs‗ bnoktdbnt laKfoptbr 7 (DkKlnnbcc onm Zgkebr ?77;).

Eby mbsgin klnsgmbrotglns orgsb klnkbrngni gnslcvbnky prlkbmurbs”nodbcy, tfb aunmodbntoc mgaabrbnkbs hbtwbbn puhcgk onm prgvotb gnslc-vbnky, tfb kflgkbs hbtwbbn `umgkgoc lr omdgngstrotgvb opprlokfbs, onm tfblpbrotgln la tfb gnslcvbnky prlkbmurb gtsbca. Bokf la tfbsb mbsgin klnsgm-brotglns gs bxodgnbm hbclw.

Zuhcgk vbrsus Zrgvotb Honeruptky

]fb puhcgk noturb la tfb sbrvgkbs prlvgmbm hy ilvbrndbnts gs tfb slurkb latfb aunmodbntoc mgaabrbnkb hbtwbbn puhcgk gnslcvbnky onm tfb honeruptkyla o prgvotb klrplrotgln. Os o dottbr la puhcgk plcgky, puhcgk sbrvgkbs

bssbntgoc alr tfb puhcgk fboctf, wbcaorb, onm soabty dust hb dogntognbm.]fgs aoktlr cboms tl tfb hosgk tbnsgln hbtwbbn prltbktgni krbmgtlrs‗ rgiftsonm dogntogngni bssbntgoc puhcgk sbrvgkbs. Krbmgtlrs fovb norrlwbr rbd-bmgbs ovogcohcb alr mbocgni wgtf mbaouctgni suhnotglnocs tfon tfby ml alrmbocgni wgtf mbaouctgni klrplrotglns, wfgkf cboms tl irbotbr dlroc fozorm(strotbigk mbaoucts). Yfbn o prgvotb klrplrotgln ilbs honerupt, occ ossbtsla tfb klrplrotgln orb pltbntgoccy suh`bkt tl ottokfdbnt. Hy klntrost, tfbohgcgty la krbmgtlrs tl ottokf ossbts la suhnotglnoc ilvbrndbnts gs irbotcyrbstrognbm gn dony kluntrgbs. Gn tfb kosb la suhnotglnoc gnslcvbnky, tfb

gnslcvbnky dbkfongsd ibnbroccy gnvlcvbs rblriongzotgln rotfbr tfon tfbcgqugmotgln la ossbts. Ommgtglnoccy, suhnotglnoc ilvbrndbnts typgkoccyfovb sldb toxotgln plwbr.

]fb mbht mgskforib prltbkts tfb suhnotglnoc bntgty onm gts plpucotglnarld clni-tbrd ford kousbm hy sforp rbmuktglns gn puhcgk sbrvgkb mbcgvbry.

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86=  cgu onm woghbc

]fus, tfb gnslcvbnky systbd nbbms tl hoconkb gnkbntgvbs alr tfb suhnotglnocbntgty tl irlw lut la honeruptky onm tfb nbbm tl rbpoy krbmgtlrs. Krukgocgssubs gn mbsgingni sukf cbigscotgln orb mbtbrdgngni tfb hoconkb hbtwbbn

tfb cbigtgdotb klntroktuoc gntbrbsts la prgvotb krbmgtlrs onm tfb mbcgvbry labssbntgoc puhcgk sbrvgkbs, onm prlvgmgni suhnotglnoc ilvbrndbnts wgtf tfbacbxghgcgty tl irlw lut la tfbgr agnonkgoc klnstrognts.

]fb puhcgk noturb la tfb mbhtlr doy `ustgay cgdgtotglns ln krbmgtlrs‗klntroktuoc rbdbmgbs”o `ustgagkotgln tfot mlbs nlt oppcy tl prgvotbmbhtlrs. Krbmgtlrs wgcc gnsgst tfot occ vocgm mbhts hb flnlrbm onm rbpogm.Bx ontb tfb suhnotglnoc bntgty doy pcbmib ossbts alr agnonkgoc rbslurkbs5bx plst gt wgcc oriub tfot dony ossbts konnlt hb usbm alr tfb sotgsaoktglnla krbmgtlrs hbkousb tfby sbrvb o puhcgk purplsb. ]fb tbnsgln hbtwbbn

krbmgtlr rgifts onm o suhnotglnoc mbhtlr‗s gnohgcgty tl poy gs fbrb tl stoy.]fgs tbnsgln gs ot gts pboe wfbn o mbht mgskforib gs nbbmbm.

Gn prgnkgpcb, tfb onswbr la on gnslcvbnky arodbwlre tl tfbsb kldpbtgnigntbrbsts gs on bqugtohcb sforgni la dgsbry, o cgdgtotgln ln tfb suhnotglnocilvbrndbnt‗s ohgcgty tl prlvgmb nlnbssbntgoc sbrvgkbs, onm o cgdgtotglnln krbmgtlrs‗ rbdbmgbs, gnkcumgni tfb mgskforib la mbht. O suhnotglnochoneruptky arodbwlre ocsl prlvgmbs iugmonkb ln tfb prglrgty la sbttcgnikldpbtgni krbmgtlr kcogds. Kcbor rucbs bosb tfb mgstrghutglnoc struiicbhbtwbbn tfb nbbm tl dogntogn bssbntgoc dgngdud sbrvgkbs onm tfb nbbm tlflnlr krbmgtlrs‗ klntroktuoc rgifts. ]fgs mgstrghutgln ocsl dottbrs bx ontb,os gt sfopbs tfb bxpbktotglns onm hbfovglr la tfb hlrrlwbr onm cbnmbrs gntfb nbxt kykcb la hlrrlwgni.

 @umgkgoc vbrsus Omdgngstrotgvb Opprlokfbs

]fbrb orb twl dogn opprlokfbs tl suhnotglnoc gnslcvbnky0 `umgkgoc onmomdgngstrotgvb. Qorglus fyhrgms ocsl bxgst. @umgkgoc prlkbmurbs pcokb klurtsgn tfb mrgvbr‗s sbot. Klurts doeb eby mbkgsglns tl iugmb tfb rbstrukturgniprlkbss, gnkcumgni wfbn onm flw o dungkgpoc gnslcvbnky gs trgiibrbm,

o prglrgty strukturb alr occlkotgni krbmgts odlni kldpbtgni kcogds, onmo mbtbrdgnotgln la wfgkf sbrvgkbs wgcc hb dogntognbm. Hbkousb tfb mbhtmgskforib gs fgifcy kldpcbx, tfb `umgkgoc opprlokf fos tfb omvontoib lanbutrocgzgni plcgtgkoc prbssurbs murgni tfb rbstrukturgni. Flwbvbr, hbkousbdonmotbs alr humibtory dottbrs cgb wgtf tfb bxbkutgvb onm cbigscoturb gndony kluntrgbs, tfb klurts‗ ohgcgty tl gnacubnkb agskoc om`ustdbnt la suhno-tglnoc bntgtgbs gs cgdgtbm.

Omdgngstrotgvb gntbrvbntglns, hy klntrost, usuoccy occlw o fgifbr cbvbcla ilvbrndbnt tl gntbrvbnb gn tfb bntgty klnkbrnbm, tbdplrorgcy toegni

mgrbkt plcgtgkoc rbsplnsghgcgty alr dony ospbkts la agnonkgoc donoibdbnt.[ukf gntbrvbntglns doy ocsl krbotb o hbcgba odlni cbnmbrs tfot tfb kbntrocilvbrndbnt wgcc gntbrvbnb, tfbrbhy krbotgni dlroc fozorm.

]fb kflgkb la opprlokf vorgbs okrlss kluntrgbs, mbpbnmgni ln tfbfgstlry, plcgtgkoc onm bklnldgk strukturb, onm dltgvotgln alr bstohcgsfgni

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 862

on gnslcvbnky dbkfongsd. Gn Funiory tfb mbsgrb tl nbutrocgzb plcgtgkocprbssurb alr hogcgni lut gnslcvbnt suhnotglnoc ilvbrndbnts aovlrbm tfb`umgkgoc opprlokf. [lutf Oargko‗s cbioc arodbwlre alr dungkgpoc hone-

ruptky gs o fyhrgm la tfb twl opprlokfbs, hcbnmgni omdgngstrotgvb gntbr-vbntgln wgtf tfb rlcb la klurts gn mbtbrdgngni mbht rbstrukturgni onmmgskforib. Oatbr fovgni hogcbm lut gnslcvbnt suhnotglnoc bntgtgbs gn tfbborcgbr mbht krgsbs, Hrozgc‗s abmbroc ilvbrndbnt kflsb on omdgngstrotgvbopprlokf gn mbocgni wgtf tfb tfgrm mbht krgsgs, gdplsgni o agskoc onm mbhtom`ustdbnt pokeoib tfot wos hosbm ln rbalrd klnmgtglns.

]fb Rngtbm [totbs fos hltf `umgkgoc onm omdgngstrotgvb opprlokfbs. Gnrbsplnsb tl wgmbsprbom dungkgpoc mbaoucts murgni tfb Irbot Mbprbssgln,gn ?7;9 tfb R.[. Klnirbss omlptbm tfb dungkgpoc gnslcvbnky cow enlwn os

Kfoptbr 7 la tfb R.[. Honeruptky Klmb.?9

 Kfoptbr 7 gs o mbht-rbstrukturgnidbkfongsd alr plcgtgkoc suhmgvgsglns onm oibnkgbs la R.[. stotbs. Gt prl-vgmbs tfb prlkbmuroc dokfgnbry tfrluif wfgkf o mbht-rbstrukturgni pconokkbptohcb tl o do`lrgty la krbmgtlrs kon hbkldb hgnmgni ln o mgssbntgnidgnlrgty.

Dony stotbs fovb omlptbm tfbgr lwn arodbwlres alr mbocgni wgtfdungkgpoc agnonkgoc mgstrbss, alr twl rboslns. Agrst, dungkgpocgtgbs orbplcgtgkoc suhmgvgsglns la tfb stotbs. [bklnm, stotb klnsbnt gs o prbklnmgtglnalr dungkgpocgtgbs tl agcb alr Kfoptbr 7 gn abmbroc klurt. Dlrblvbr, abmbrocklurts doy nlt bxbrkgsb ̀ urgsmgktgln lvbr plcgky kflgkbs onm humibt prglrg-tgbs la tfb mbhtlr. Nl ungalrd opprlokf bxgsts okrlss stotbs.?6 Nbw WlreKgty‗s honeruptky gn ?792 onm Lfgl‗s borcy worngni agskoc dlngtlrgnisystbd la tfb dungkgpocgtgbs orb twl prldgnbnt bxodpcbs la mgrbkt stotbgntbrvbntgln gn rbslcvgni agnonkgoc mgstrbss.

Gnslcvbnky Zrlkbmurbs

On baabktgvb gnslcvbnky prlkbmurb klntogns tfrbb dogn bcbdbnts0 mbagng-tgln la tfb gnslcvbnky trgiibr alr tfb prlkbmurb, agskoc om`ustdbnt hy tfb

mbhtlr tl hrgni spbnmgni gn cgnb wgtf rbvbnubs onm hlrrlwgni gn cgnbwgtf tfb kopokgty tl sbrvgkb mbht, onm nbiltgotglns hbtwbbn mbhtlr onmkrbmgtlrs tl rbstrukturb mbht lhcgiotglns. [pbkgagk cbioc mbagngtglns sbrvb osprlkbmuroc trgiibrs alr gngtgotgni gnslcvbnky prlkbbmgnis. Funiory (Cowln Dungkgpoc Mbht Om`ustdbnt ?771) onm tfb Rngtbm [totbs (Kfoptbr 7)mbagnb gnslcvbnky os gnohgcgty tl poy5 [lutf Oargko usbs lnb sbt la trgiibrsalr sbrglus agnonkgoc prlhcbds onm onltfbr alr pbrsgstbnt dotbrgoc hrbokfla agnonkgoc klddgtdbnts (Dungkgpoc Agnonkgoc Donoibdbnt Okt 8::;).Gn occ tfrbb kluntrgbs, tfb honeruptky klmb bdplwbrs tfb honeruptky

klurt tl mgsdgss pbtgtglns nlt agcbm gn illm aogtf. Hbkousb honeruptky prlkb-murbs fovb tfb plwbr tl mgskforib mbht, o suhnotglnoc bntgty doy agcb purbcyalr tfb purplsb la bvomgni mbht lhcgiotglns. On gngtgoc mbtbrdgnotgln dusthb domb os tl wfbtfbr tfb sgtuotgln rbacbkts o ibnugnb gnohgcgty tl poy lrdbrbcy unwgccgninbss tl poy. ]fb R.[. honeruptky klmb brbkts lhstokcbs tl

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861  cgu onm woghbc

dungkgpoc agcgni hbylnm tflsb aokbm hy prgvotb mbhtlrs, tfbrbhy mgskluroi-gni strotbigk dungkgpoc honeruptky agcgnis.

Yfgkf portgbs doy klddbnkb on gnslcvbnky prlkbbmgni mgaabrs okrlss

kluntrgbs. Gn tfb Rngtbm [totbs, lncy tfb dungkgpocgty kon agcb alr hone-ruptky, klnmgtglnoc ln hbgni gnslcvbnt, fovgni wlrebm lut lr ottbdptbmtl wlre lut o pcon tl mboc wgtf gts mbhts, onm fovgni hbbn outflrgzbmhy tfb stotb tl agcb alr honeruptky. ]fb dlrb strgnibnt rbqugrbdbnt alragcgni unmbr Kfoptbr 7, os kldporbm wgtf Kfoptbr ??, portcy rbacbktstfb klnstrognts gdplsbm hy tfb ?:tf Odbnmdbnt tl tfb R.[. Klnstgtu-tgln, unmbr wfgkf o krbmgtlr konnlt hrgni o dungkgpocgty gntl o abmbrocklurt oiognst gts wgcc. Cgeb Kfoptbr 7, [kfworkz‗s (8::8) dlmbc cow alrsuhnotglnoc gnslcvbnky occlws lncy dungkgpocgtgbs tl agcb alr honeruptky.

Gn [lutf Oargko ony krbmgtlr kon trgiibr tfb gnslcvbnky prlkbmurb (Kfop-tbr ?;, [bktgln ?2?(o), 8::; Dungkgpoc Agnonkgoc Donoibdbnt Okt). GnFuniory o krbmgtlr kon pbtgtgln tfb klurt ga o dungkgpocgty gs gn orrborsalr dlrb tfon 1: moys (Cow ln Dungkgpoc Mbht Om`ustdbnt UCow VVQ?771T).

Agskoc om`ustdbnt onm klnslcgmotgln orb prbklnmgtglns alr agnonkgocwlreluts. Latbn o suhnotglnoc ilvbrndbnt‗s lwn agskoc dgsdonoibdbntgs tfb rllt kousb la gnslcvbnky. Bvbn wfbn suhnotglnoc gnslcvbnky gs trgi-ibrbm hy dokrlbklnldgk sflkes, agskoc om`ustdbnt gs gnfbrbnt tl onygnslcvbnky prlkbmurbs, rbqugrgni tfb mgaagkuct plcgtgkoc kflgkbs la kuttgnibxpbnmgturb, rogsgni rbvbnubs, lr hltf.

Gonkflvgkfgno, Cgu, onm Noioro`on (8::9) prbsbnt o arodbwlre alr ono-cyzgni suhnotglnoc agskoc om`ustdbnt. Xboc gntbrbst rotbs, bklnldgk irlwtfla tfb suhnotglnoc bklnldy, onm tfb suhnotglnoc ilvbrndbnt‗s prgdoryhoconkb mbtbrdgnb suhnotglnoc mbht sustognohgcgty. ]fby oriub, flwbvbr,tfot suhnotglnoc agskoc om`ustdbnt quocgtotgvbcy mgaabrs arld notglnoc agskocom`ustdbnt. Rnohcb tl gssub tfbgr lwn kurrbnky, suhnotglnoc ilvbrndbntskonnlt usb sbginglroib agnonkb. ]fby konnlt arbbcy om`ust tfbgr prgdoryhoconkb hbkousb la tfb klnstrognts ln tfb toxotgln onm bxpbnmgturb systbd

wgtfgn tfb gntbrilvbrndbntoc agskoc systbd.Mbht rbstrukturgni cgbs ot tfb fbort la ony honeruptky arodbwlre. Gn

omdgngstrotgvb gntbrvbntglns, tfb fgifbr cbvbc la ilvbrndbnt latbn rbstruk-turbs tfb suhnotglnoc‗s mbht lhcgiotglns gntl clnibr-tbrd mbht gnstrudbnts.Gn tfb kosb la Nbw Wlre Kgty, tfb Dungkgpoc Ossgstonkb Klrplrotgln wossbt up tl gssub clnibr-tbrd stotb hlnms tl rbpoy doturgni sflrt-tbrd lhcg-iotglns la tfb kgty, klnmgtglnbm ln tfb kgty doegni agskoc onm agnonkgocdonoibdbnt rbalrds (Hogcby ?76=). ]fb ?779 mbht oirbbdbnts hbtwbbntfb Hrozgcgon abmbroc ilvbrndbnt onm 82 la gts 81 stotbs, wfgkf alkusbm ln

bx ontb rbiucotglns, doy ocsl hb vgbwbm os on bx plst gntbrvbntgln, hbkousbtfb oirbbdbnts wbrb gdplsbm ln o kosb-hy-kosb hosgs os o klnmgtgln lambht rbstrukturgni.

Mbht mgskforib gs o do`lr mbporturb arld tfb prgnkgpcb tfot klntroktsluift tl hb aucagccbm.?7  O doturb `umgkgoc dbkfongsd gs wbcc pcokbm tl

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 869 

bnsurb tfot mgskforibs orb aogr onm bqugtohcb. Gn [lutf Oargko, alr bxodpcb,tfb dungkgpocgty nbbms tl il tl tfb klurt alr o mgskforib. Omdgngstrotgvbprlkbmurbs tbnm tl coke tfb plwbr tl mgskforib mbht.

]fb om`ustdbnt la mbht lhcgiotglns gs o do`lr gntbrvbntgln gn klntroktrgifts. Gnslcvbnky cow ottbdpts tl hoconkb krbmgtlr rgifts, tfb gnohgcgty la osuhnotglnoc bntgty tl poy, onm tfb klntgnubm nbbm la tfb suhnotglnoc ilv-brndbnts tl prlvgmb bssbntgoc puhcgk sbrvgkbs. Gt alrdocgzbs tfb rbcotglnsfgphbtwbbn krbmgtlrs onm tfb suhnotglnoc mbhtlr gn agnonkgoc mgstrbss. Gnslc-vbnky cow prbsbrvbs tfb cbioc lrmbr hy supbrsbmgni klntroktuoc vglcotglnswgtf o nbw cbioc okt.8: O prlkbmurb alr suhnotglnoc gnslcvbnky rbklingzbstfot rbslcvgni agnonkgoc mgstrbss tfrluif dbkfongsds iugmbm hy cow gsprbabrohcb tl dummcgni tfrluif rbpbotbm, klstcy, onm latbn unsukkbssauc

nbiltgotglns.Lnb hosgk qubstgln wgtf rbspbkt tl mbht rbstrukturgni gs wfl flcms

tfb krodmlwn plwbr wfbn tfb sgmbs aogc tl rbokf on oirbbdbnt.8? RnmbrKfoptbr 7 la tfb R.[. Honeruptky Klmb, dungkgpoc mbhtlrs prlplsb tfbmbht om`ustdbnt pcon, wfgkf doy dlmgay tfb tbrds la bxgstgni mbht gnstru-dbnts. [ukf om`ustdbnt pcons doy hb omlptbm lvbr tfb lh`bktgln la flcm-lut krbmgtlrs. Kfoptbr 7 gnklrplrotbs hosgk Kfoptbr ?? rbqugrbdbnts0 otcbost lnb gdpogrbm kcoss la kcogds opprlvbs tfb pcon, onm sbkurbm krbmgtlrsdust rbkbgvb ot cbost tfb vocub la tfb sbkurbm prlpbrty. Rnsbkurbm krbmgtlrstfus latbn clsb lut (alr kosb fgstlrgbs, sbb Eupbtz ?7725 DkKlnnbcc onmZgkebr ?77;).

Rncgeb prgvotb bntgtgbs, suhnotglnocs fovb nl stlkeflcmbrs. ]fbgr laagkgocsnbbm nlt poy laa unsbkurbm krbmgtlrs tl rbdogn gn klntrlc. Rnsbkurbmkrbmgtlrs orb prltbktbm hy §7=; (h) (9) la Kfoptbr 7, wfgkf rbqugrbs tfbklurt tl mbkgmb tfot tfb pcon gs gn tfb –hbst gntbrbsts la krbmgtlrs onm gsabosghcb.— ]fb klurt bnsurbs tfot hlnmflcmbrs baabktgvbcy rbkbgvb wfot tfbywlucm fovb rbkbgvbm lutsgmb la honeruptky.88 

Gn Funiory tfb Mbht Klddgttbb, wfgkf gs gnmbpbnmbnt la tfb clkoc ilv-brndbnt, gs kforibm wgtf prbporgni o rblriongzotgln pcon onm mbht sbttcb-

dbnt prlplsoc.8; O mbht sbttcbdbnt gs rbokfbm ga ot cbost foca la tfb krbmg-tlrs wflsb kcogds okklunt alr ot cbost twl-tfgrms la tfb tltoc unmgsputbmkcogds oirbb tl tfb prlplsoc. Krbmgtlrs wgtfgn tfb sodb irlup dust hbtrbotbm bquoccy.8= ]fb cow ocsl stgpucotbs tfb prglrgty la ossbt mgstrghutgln.Ga mgsoirbbdbnts orgsb ln mgstrghutgln, tfb klurt doebs tfb agnoc mbkgsgln,wfgkf konnlt hb oppbocbm.82

[lutf Oargko‗s cbigscotgln stgpucotbs tfot mbht mgskforib onm sbttcbdbntla kcogds dust hb opprlvbm hy tfb klurt. Rnmbr tfb Dungkgpoc AgnonkbDonoibdbnt Okt, kcogds orb sbttcbm gn tfb alcclwgni lrmbr0 sbkurbm krbmg-

tlrs, prlvgmbm tfot tfb sbkurgty wos igvbn gn illm aogtf onm ot cbost sgxdlntfs hbalrb donmotlry gntbrvbntgln hy tfb prlvgnkbs5 prbabrbnkbs prl-vgmbm hy tfb ?7;1 Honeruptky Okt5 onm nlnprbabrbntgoc kcogds.81 

O kcbor prglrgty strukturb alr sbttcgni kldpbtgni kcogds bxpbmgtbs tfbrbslcutgln la mbht rbstrukturgni. Zrglrgtgbs ocsl bosb tfb pogn la sforgni tfb

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866  cgu onm woghbc

rbmukbm ossbts alr mgstrghutgln, hbkousb clssbs suaabrbm hy krbmgtlr irlupsdoy hb prbmgktbm gn omvonkb. Fbnkb, tfbsb prglrgtgbs orb dlrb cgebcy tl hbokkbptbm. Dlrblvbr, tfb strukturb kon ebbp tfb ohslcutb sgzb la clssbs gn

kfbke, os tfb klsts la prltroktbm nbiltgotglns onm cgtgiotgln orb fgif onmlatbn toeb prglrgty lvbr ltfbr kcogds. Zrglrgtgbs orb o plcgky kflgkb wgtfo vorgbty la tromb-laas. Ga tfb cbnmgni klddungty pbrkbgvbs tfot agnonkgocmgstrbss gs rbslcvbm coribcy ln gts hoke, mbsgrohcb auturb cbnmgni klucm sua-abr. ]fb prglrgtgbs hokestlp vlcuntory rbstrukturgni nbiltgotglns, hbkousbkrbmgtlrs enlw tfbgr plsgtgln gn tfb fgbrorkfy la poydbnt gn tfb gnslcvbnkyprlkbmurb. ]fb sfomlw la prglrgtgbs sfopbs tfb horiogngni plwbr la krbmg-tlrs onm mbhtlrs bvbn lutsgmb honeruptky.

Mgstrghutgni tfb pllc la ovogcohcb ossbts gn honeruptky gs nlt lncy ohlut

baagkgbnky onm bquoc trbotdbnt. Yfgkf plcgky gs dlst opprlprgotb wgccmbpbnm ln tfb mgstrghutglnoc prbabrbnkbs la tfb slkgbty klnkbrnbm onm tfbbaabkt la o kflsbn prglrgty strukturb ln tfb kopgtoc dorebt onm gts gdpoktln nbw agnonkgni murgni o cgqugmgty krunkf. Gt gs ocsl gdplrtont tl occlwsuaagkgbnt acbxghgcgty wgtfgn o ibnbroc prglrgty arodbwlre.

Klnkcumgni Xbdores

Os o rbsuct la mbkbntrocgzotgln orlunm tfb wlrcm, suhnotglnoc mbht okkluntsalr on gnkrbosgni sforb la kluntrgbs‗ puhcgk mbht. Xopgm urhongzotgln onmmbdonm alr corib-skocb urhon gnarostrukturb wgcc klntgnub tl put prbssurbln tfb puhcgk agnonkb systbd tl agnonkb sustognohcb gnvbstdbnts. Gn donykluntrgbs mbkbntrocgzotgln fos mbvlcvbm rbsplnsghgcgty alr dlst gnarostruk-turb gnvbstdbnts tl suhnotglnoc ilvbrndbnts. Donoigni suhnotglnoc mbhtagnonkgni onm gts sustognohgcgty gs krgtgkoc tl o sustognohcb puhcgk agnonkbsystbd onm slvbrbgin agnonkgoc fboctf.

Os Konutl onm Cgu (8:?:o) nltb, tfb agnonkgoc krgsgs fos fom o sgingag-kont gdpokt ln tfb agnonkgoc okklunts la dony suhnotglnoc ilvbrndbnts, os

o rbsuct la sclwbr bklnldgk irlwtf, unkbrtognty lvbr tfb klst la agnonkgni,onm prbssurb ln prgdory hoconkbs. Hbylnm tfb kurrbnt krgsgs, tfb strukturoctrbnms la mbkbntrocgzotgln onm urhongzotgln onm tfb nbbm tl agnonkb urhongnarostrukturb orb cgebcy tl klntgnub.

[uhnotglnoc ilvbrndbnts gn vorglus do`lr mbvbclpgni kluntrgbs bntbrbmtfb kurrbnt iclhoc agnonkgoc krgsgs wgtf strlnibr agskoc plsgtglns tfon tfbyprbvgluscy fom, os o rbsuct la tfbgr rbalrds gn tfb agskoc rucbs onm rbiucotlryarodbwlres.89 Flwbvbr, tfb unkbrtognty la tfb iclhoc puhcgk mbht dorebt,tfb pltbntgoc rgses la tfb rgsgni klst la kopgtoc, tfb aroigcgty la iclhoc rbklv-

bry, onm kurrbnky unkbrtogntgbs onm osslkgotbm rbagnonkgni orb klntgnugnitl put prbssurb ln suhnotglnoc agnonkb (Konutl onm Cgu 8:?:h).]fbrb orb ocsl rgses la gnkrbosgni klntgnibnt cgohgcgtgbs. [fgatgni hlrrlw-

gni laa-humibt doy hbkldb o klnvbngbnt woy la kgrkudvbntgni agskoc rucbs.[uhnotglnoc ilvbrndbnts doy turn tl octbrnotgvb alrds la gnarostrukturb

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 867

gnvbstgni, gnkcumgni puhcgk-prgvotb portnbrsfgps, spbkgoc purplsb vbfgkcbs,onm laa-humibt agnonkgni. [ukf agnonkgni, ga nlt prlpbrcy rbiucotbm, kongnkrbosb ilvbrndbnt‗s klntgnibnt cgohgcgtgbs.

O ronib la dgmmcb-gnkldb kluntrgbs, onm clw-gnkldb kluntrgbs gntronsgtgln tl dorebt okkbss, orb ocsl klntbdpcotgni bxponmgni suhno-tglnoc hlrrlwgni onm mbht agnonkgni. Hbalrb tfby ml sl, tfbgr agrst prg-lrgty sflucm hb tl bstohcgsf kcbor agskoc rucbs tfot spbkgay tfb typb onmpurplsb la hlrrlwgni, gmbntgay tfb prlkbmuroc stbps alr klntroktgnimbht, gnmgkotb ony cgdgtotglns ln hlrrlwgni, onm klntrlc onm okkluntalr laa-humibt cgohgcgtgbs.

Bx plst gnslcvbnky dbkfongsds orb ocsl bssbntgoc tl tfb sustognohgcgtyla suhnotglnoc mbht agnonkgni. Bvbn ga rorbcy gnvlebm, tfby sfopb bxpbk-

totglns ohlut mbaoucts onm bnkluroib stoebflcmbrs tl rbslcvb suhno-tglnoc agnonkgoc mgstrbss baagkgbntcy. Nltwgtfstonmgni tfb agskoc prlhcbdsla o portgkucor suhnotglnoc ilvbrndbnt, on baabktgvb gnslcvbnky systbdfbcps dogntogn okkbss la ltfbr suhnotglnoc ilvbrndbnts tl tfb puhcgkagnonkb dorebts. Kcbor onm prbmgktohcb rucbs ln prglrgty la rbpoydbntbosb tfb struiicb onm occlw aostbr rbslcutgln la agnonkgoc mgstrbss. Baabk-tgvb gnslcvbnky onm krbmgtlr rgifts systbds occlw hbttbr donoibdbnt laagnonkgoc rgses.86

]fb donoibdbnt la suhnotglnoc mbaouct rgses gs gntbrtwgnbm wgtfhrlombr dokrlbklnldgk onm gnstgtutglnoc rbalrds. Dokrlbklnldgk stohgcgtyonm slvbrbgin strbnitf kop tfb agnonkgoc rotgnis la suhnotglnoc ilvbrn-dbnts, tfbrbhy oaabktgni tfb ovogcohgcgty onm klst la aunms alr suhnotglnocilvbrndbnts. Dlrblvbr, tfb gntbrilvbrndbntoc agskoc systbd unmbrpgnstfb aunmodbntocs la tfb suhnotglnoc agskoc potf. Ygtflut gnkrbosbm agskocoutlnldy onm irbotbr lwn-slurkb rbvbnubs, suhnotglnoc ilvbrndbntswgcc rorbcy hb gn o plsgtgln tl hlrrlw sustognohcy ln tfbgr lwn. Donoignimbaouct rgses mlbs nlt dbon dgngdgzgni suhnotglnoc ilvbrndbnts‗ okkbsstl mbht agnonkgni. Ln tfb klntrory, mbvbclpgni o kldpbtgtgvb onm mgvbrsg-agbm suhnotglnoc krbmgt dorebt gs krgtgkoc tl gntbrdbmgotgni notglnoc sov-

gnis onm gnarostrukturb agnonkgni. On baabktgvb donoibdbnt la suhnotglnocmbaouct rgses tfus ilbs gn tonmbd wgtf hrlombr mbvbclpdbnt la kopgtocdorebts.

Nltbs

]fb outflrs tfone Hrgon Zgntl, Ioccgno O. Qgnkbcbttb, Dgkfobc Mb Onibcgs, NlrhbrtIogccorm, @uon Zbmrl [kfdgmt, Xo`u [gnif, onm Vgolwbg ]gon alr tfbgr klddbnts,

wfgkf fovb hbbn gnklrplrotbm.  ?. ]fb tbrd suhnotglnoc   rbabrs fbrb tl occ tgbrs la ilvbrndbnt onm puhcgkbntgtgbs hbclw tfb abmbroc lr kbntroc ilvbrndbnt, gnkcumgni stotbs, kluntgbs, kgtgbs,tlwns, puhcgk utgcgty kldpongbs, onm ltfbr spbkgoc-purplsb puhcgk bntgtgbs tfot fovbtfb kopokgty tl gnkur mbht. Gn Hrozgc nbt mbht gs tfb mgaabrbnkb hbtwbbn irlss mbhtonm ossbts. Moto orb os la Mbkbdhbr 8::7 (www.hkh.ilv.hr/<AG[KZLCGKW).

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87:  cgu onm woghbc

  8. Agiurbs orb os la Mbkbdhbr 8::7 (www.rhg.lri.gn). Mbht wlucm hb fgifbr gambht ln tfb hoconkb sfbbts la kldpongbs sukf os plwbr onm wotbr, wfgkf orb wflccylr coribcy lwnbm hy tfb stotbs, wbrb gnkcumbm.

;. [bb www.abmbrocrbsbrvb.ilv.  =. Gn o cbioc sbnsb, suhnotglnoc gnslcvbnky rbabrs tl tfb gnohgcgty tl poy mbhts ostfby aocc mub. Mbagngtglns la gnslcvbnky vory okrlss kluntrgbs, flwbvbr. Gn ommgtglntl mbaouct (aogcurb tl poy okklrmgni tl tfb tbrds la tfb mbht gnstrudbnt), gnslcvbnkygs kforoktbrgzbm hy o ibnugnb, onm nlt dbrbcy o tbdplrory, sflrtaocc la rbslurkbs tlsbrvgkb mbht (sbb Cgu onm Yoghbc 8::7).

  2. Alr o mgskussgln la flw slvbrbgin rotgnis oaabkt suhslvbrbgin rotgnis, sbbIogccorm (8::7). Alr o mgskussgln la flw gntbrnotglnoc rotgni oibnkgbs rotb suhno-tglnoc krbmgtwlrtfgnbss, sbb Cgu onm ]on (8::7).

  1. ]fgs stotbdbnt ossudbs tfot bklnldgk irlwtf tronscotbs gntl gnkrbosbmkopokgty tl sbrvgkb mbht, wfgkf doy nlt foppbn ga o suhnotglnoc ilvbrndbnt gsunohcb tl bxpclgt gts irlwgni tox hosb. Gn tfgs kosb hlrrlwgni kon stgcc prlvleb o

agskoc krgsgs, bvbn wfbn tfb prlkbbms fovb hbbn put tl illm usb. ]fb stotbdbnt ocslossudbs tfb ibnbroc ilvbrndbnt mbht gs kldpotghcb wgtf dorebt agnonkgni kopokgtywgtflut krlwmgni lut prgvotb mbdonms.

9. ]fb rbvbnub mbagkgt gs tfb odlunt la kurrbnt bxpbnmgturb (sukf os woibs,pbnsgln lutcoys, suhsgmgbs, tronsabrs, onm lpbrotgln onm dogntbnonkb) nbt la tltocrbvbnubs.

  6. Gonkflvgkfgno, Cgu, onm Noioro`on (8::9) onocyzb eby aoktlrs gnacubnkgnisuhnotglnoc agskoc sustognohgcgty.

7. Hbtwbbn ?776 onm 8::?, ot cbost 29 la 67 rbiglnoc ilvbrndbnts gn Xus-sgo mbaouctbm (Ocod, ]gtlv, onm Zbtbrsbn 8::=). Gn 8::?, sgx ybors oatbr tfb pbslkrgsgs, 1: pbrkbnt la suhnotglnoc ilvbrndbnts gn Dbxgkl stgcc struiicbm agnonkgoccy

([kfworkz 8::8). Lnb gntbrbstgni mgaabrbnkb hbtwbbn Dbxgkl onm Xussgo gs tfotsuhnotglnoc ilvbrndbnts wbrb occlwbm tl hlrrlw lvbrsbos gn Xussgo, wfbrbossukf hlrrlwgni wos prlfghgtbm gn Dbxgkl. [uhnotglnoc ilvbrndbnts gn Dbxgklwbrb nlt gnsucotbm arld alrbgin bxkfonib rgses, flwbvbr, wfgkf wbrb tronsdgttbmtfrluif gnacotgln onm gntbrbst rotbs.

?:. ]fb flcmlut prlhcbd lkkurs wfbn gnmgvgmuoc krbmgtlrs wfl fovb mgaabrbntgntbrbsts onm sbkurgty prlvgsglns alr tfb mbht lwbm tl tfbd mbdonm prbabrbn-tgoc trbotdbnt onm tfrbotbn tl mbrogc mbht rbstrukturgnis vlcuntorgcy nbiltgotbmhbtwbbn o do`lrgty la krbmgtlrs onm tfb suhnotglnoc mbhtlr (sbb DkKlnnbcc onmZgkebr ?77;).

 ??. ]fb alkus gn tfgs kfoptbr gs ln mbdonm-sgmb rbiucotgln. Ln tfb suppcy sgmb,

vorglus bcbdbnts la tfb agnonkgoc systbd, gnkcumgni kldpbtgtgln onm prumbntgocrbiucotglns, kldb gntl pcoy. ?8. O kcbor lh`bktgvb la [lutf Oargko‗s rbstrukturgni la gts cbioc arodbwlre alr

dungkgpoc agnonkb onm donoibdbnt systbds gn tfb plstoportfbgm pbrglm wos tlnurturb o kldpbtgtgvb prgvotb dungkgpoc krbmgt dorebt gn wfgkf prgvotb gnvbstlrspcoy o mldgnont rlcb ([lutf Oargko Notglnoc ]rbosury 8::?).

?;. [flrt-tbrd hlrrlwgni alr wlregni kopgtoc gs stgcc occlwbm, hut prlvgsglnssflucm hb hugct gn tl prbvbnt ilvbrndbnts arld rlcclvbr hlrrlwgni os o woy laclni-tbrd hlrrlwgni alr lpbrotgni mbagkgts.

?=. ]fb agskoc toribts wbrb rbcoxbm gn rbsplnsb tl tfb 8::6‛:7 iclhoc agnonkgockrgsgs (www.rhg.lri.gn).

 ?2. [bb fttp0//www.oumgtlr.stotb.lf.us.

 ?1. ]fb hlunmory hbtwbbn bx ontb rbiucotgln onm bx plst gnslcvbnky gs nltkcbor kut. Agskoc rbsplnsghgcgty rbiucotgln, alr bxodpcb, doy gnklrplrotb bcbdbntsla bx plst klnsbqubnkbs. Ybhh (8::=) gnkcumbs tronsabr gntbrkbpts onm cbnmbr kln-trlc dbkfongsds os port la bx plst klnsbqubnkbs. ]fb alkus fbrb gs ln gnslcvbnkyprlkbbmgnis.

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 87?

 ?9. ]fb Honeruptky Okt la ?7;6 (Kfonmcbr Okt), 2: [tot. 12= (?7;9), odbnm-gni tfb ?676 R.[. Honeruptky Okt, wos tfb agrst pgbkb la cbigscotgln gn tfb wlrcmilvbrngni dungkgpoc honeruptky.

 ?6. [ldb stotbs igvb hconebt klnsbnt tl dungkgpocgtgbs tl agcb gn abmbroc klurt,sldb stotbs ottokf gdplrtont klnmgtglns, onm sldb stotbs iront pbrdgssgln ln okosb-hy-kosb hosgs (sbb Couifcgn 8::2).

 ?7. ]fb Klntrokts Kcousb la tfb R.[. Klnstgtutgln (Ortgkcb G. ?:.?) puts tfb prgn-kgpcb la pokto sunt sbrvonmo (oirbbdbnts dust hb ebpt) gntl klnstgtutglnoc alrd.

 8:. ]fb R.[. bxpbrgbnkb suiibsts tfot gn tfb ohsbnkb la o honeruptky arodb-wlre, puhcgk bntgtgbs gn agnonkgoc mgstrbss wgcc usb bvbry plssghcb tbkfngkocgty tlkfoccbnib tfb vocgmgty la tfbgr lutstonmgni lhcgiotglns. Ygmbsprbom kfoccbnibs gn ombaouct wovb murgni tfb ?7tf kbntury cbm tl tfb mbvbclpdbnt la tfb hlnm klunsbclpgngln, wfgkf kbrtgagbs tfot tfb lhcgiotgln gs cbioc, vocgm, onm bnalrkbohcb.

 8?. Krodmlwn gnvlcvbs klurt klnagrdotgln la honeruptky pcons mbspgtb tfblpplsgtgln la kbrtogn krbmgtlrs. Rnmbr sbktgln ??87(h) la Kfoptbr ?? la tfb R.[.

Honeruptky Klmb, klurts doy klnagrd o pcon ga gt wos okkbptbm hy ot cbost lnbgdpogrbm kcoss, mlbs nlt mgskrgdgnotb unaogrcy, onm gs aogr onm bqugtohcb.

 88. ]fb hbst gntbrbst tbst bnsurbs tfot unsbkurbm krbmgtlrs orb trbotbm os wbccgnsgmb honeruptky os lutsgmb la gt. Krbmgtlrs doy nbvbrtfbcbss rbkbgvb cbss tfon ?::pbrkbnt la tfbgr kcogds. Rnsbkurbm krbmgtlrs la dungkgpocgtgbs orb prltbktbm arldtfb dlroc fozorm prlhcbd la lpplrtungstgk honeruptky agcgnis nlt hy tfb krod-mlwn cgdgt hut hy tfb hbst gntbrbsts la tfb krbmgtlrs stonmorm (sbb DkKlnnbcc onmZgkebr ?77;).

8;. ]fb Cow ln Dungkgpoc Mbht Om`ustdbnt, Cow VVQ, ?771, Kfoptbr GG, § 7 (;)stgpucotbs o agnonkgoc trustbb‗s gnmbpbnmbnkb.

 8=. Cow ln Dungkgpoc Mbht Om`ustdbnt, Cow VVQ, ?771, Kfoptbr GGG, § 8;.

 82. Cow ln Dungkgpoc Mbht Om`ustdbnt, Cow VVQ, ?771, Kfoptbr GQ, § ;?,ossbts orb mgstrghutbm tl krbmgtlrs gn tfb alcclwgni lrmbr0 rbiucor pbrslnnbc hbnbagts,gnkcumgni sbvbronkb poy5 sbkurgtgzbm mbht5 mubs tl tfb kbntroc ilvbrndbnt5 slkgocgnsuronkb mbhts, puhcgk klntrghutglns, onm toxbs5 ltfbr kcogds5 onm gntbrbst onm abbsln mbht lhcgiotglns klntgnubm murgni tfb honeruptky prlkbbmgni.

 81. [lutf Oargko, Dungkgpoc Agnonkb onm Donoibdbnt Okt, 8::;, Kfoptbr ?;,[bktgln ?22 (=).

 89. Gn Hrozgc, suhnotglnoc ilvbrndbnts‗ nbt mbht os o pbrkbnt la IMZ abcc arld?6 pbrkbnt gn 8::; tl ?= pbrkbnt gn 8::9. Gn Gnmgo, tfb agskoc mbagkgt la stotbs mbkcgnbmarld =.: pbrkbnt la IMZ, ln ovbroib, gn 8:::‛:2 tl ?.2 pbrkbnt gn 8::9‛:6, onmstotbs okfgbvbm plsgtgvb lpbrotgni hoconkbs. Gn Klcldhgo irlss mbht hy suhnotglnoc

ilvbrndbnts os o sforb la IMZ mbkcgnbm arld ;.1 pbrkbnt gn 8::? tl ?.= pbrkbntgn 8::6. [uhnotglnoc ilvbrndbnts gn hltf Kfgno onm Xussgo fom plsgtgvb agskochoconkbs gn 8::9.

 86. ]fb Ylrcm Hone (8::2) ommrbssbs krbmgtlr rgifts onm gnslcvbnky stonmormsgn tfb klntbxt la klrplrotb honeruptky. Eby prgnkgpcbs oppcy tl tfb suhnotglnocklntbxt, hborgni gn dgnm tfb mgaabrbnkbs hbtwbbn puhcgk onm prgvotb honeruptky.

Xbabrbnkbs

Ocod, Osom, [tbpon ]gtlv, onm @lfn Zbtbrsbn. 8::=. –Xussgon Abmbrotgln.— Gn [uh-

notglnoc Kopgtoc Dorebts gn Mbvbclpgni Kluntrgbs0 Arld ]fblry tl Zroktgkb,bm. Dgco Arbgrb onm @lfn Zbtbrsbn, 29?‛78. Yosfgnitln, MK0 Ylrcm Hone.

Hogcby, Xlhbrt Y. ?76=. ]fb Krgsgs Xbigdb0 ]fb DOK, tfb BAKH, onm tfb Zlcgtg-koc Gdpokt la tfb Nbw Wlre Agnonkgoc Krgsgs. Ochony0 [totb Rngvbrsgty la NbwWlre Zrbss.

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878  cgu onm woghbc

Konutl, Ltovgonl, onm Cgcg Cgu. 8:?:o. –[uhnotglnoc Mbht Agnonkgni onm tfbIclhoc Agnonkgoc Krgsgs.— Zrbdgsb Nltb. Ylrcm Hone, Zlvbrty Xbmuktgln onmBklnldgk Donoibdbnt Nbtwlre, Yosfgnitln, MK.

”””. 8:?:h. –[uhnotglnoc Mbht Agnonkb0 Doeb gt [ustognohcb.— Gn ]fb Moyoatbr ]ldlrrlw0 O Fonmhlle ln tfb Auturb la Bklnldgk Zlcgky gn tfb Mbvbc-lpgni Ylrcm , bm. Ltovgonl Konutl onm Dorkbcl Iguiocb. Yosfgnitln, MK0Ylrcm Hone.

Mgccgnibr, Ygccgod. 8::8. Hrozgc0 Gssubs gn Agskoc Abmbrocgsd. Xbplrt 8828;‛HX.Ylrcm Hone, Cotgn Odbrgko onm tfb Korghhbon Xbigln, Hrozgc Kluntry Don-oibdbnt Rngt, ZXBD [bktlr Donoibdbnt Rngt, Yosfgnitln, MK.

Bnicgsf, Ygccgod H. ?771. –Rnmbrstonmgni tfb Klsts la [lvbrbgin Mbaouct0 Odbrg-kon [totb Mbhts gn tfb ?6=:s.— Odbrgkon Bklnldgk Xbvgbw 61 (?)0 827‛92.

AgtkfXotgnis. 8::7. Burlpbon Clkoc onm Xbiglnoc Ilvbrndbnt Lutclle 8:?:.

Mbkbdhbr ?1. Nbw Wlre.Iogccorm, Nlrhbrt. 8::7. –]fb Mbtbrdgnonts la Dllmy‗s [uh-[lvbrbgin Xotgnis.—Gntbrnotglnoc Xbsborkf @lurnoc la Agnonkb onm Bklnldgks ;?0 ?7=‛8:7.

Gonkflvgkfgno, Bcbno, Cgcg Cgu, onm Dlfon Noioro`on. 8::9. –[uhnotglnoc Agskoc[ustognohgcgty Onocysgs0 Yfot Kon Yb Cborn arld ]odgc Nomu<— Bklnldgk onmZlcgtgkoc Ybbecy =8 (28)0 ???‛?7.

 @ûeoy, Kforcbs, Iïhlr [zbpbsg, onm Iyñriy [zdbtono. 8::=. –Dungkgpoc Hone-ruptky Arodbwlre onm Mbht Donoibdbnt Bxpbrgbnkbs, ?77:‛8:::.— GnGntbrilvbrndbntoc Agnonkbs gn Funiory0 O Mbkomb la Bxpbrgbnkb, bm. Dgfïcy,Elpïnyg, Mbhlrof C. Ybtzbc, onm [odgr Bc Mofbr. Yosfgnitln, MK0 YlrcmHone.

Efbdong, [tumg. 8::8. –Abmbroc Zlcgtgks onm Humibt Mbagkgts0 Bvgmbnkb arldtfb [totbs la Gnmgo.— Ylrcm Hone Zlcgky Xbsborkf Ylregni Zopbr 87?2,Yosfgnitln, MK.

Eupbtz, Movgm [. ?772. –Dungkgpoc Mbht Om`ustdbnt unmbr tfb Honeruptky Klmb.—Rrhon Cowybr 89 (;)0 2;?‛1:2.

Couifcgn, Ocbxonmbr D. 8::2. Dungkgpoc Gnslcvbnkgbs0 O Zrgdbr ln tfb ]rbotdbntla Dungkgpocgtgbs unmbr Kfoptbr 7 la tfb R.[. Honeruptky Klmb. Yosfgni-tln, MK0 Ygcby Xbgn & Agbcmgni. fttp0//www.wgcbyrbgn.kld/puhcgkotgln.kad<puhcgkotgln\gm4??;:7.

Cgu, Cgcg. 8::6. –Krbotgni o Xbiucotlry Arodbwlre alr Donoigni [uhnotglnoc

Hlrrlwgni.— Gn Zuhcgk Agnonkb gn Kfgno0 Xbalrd onm Irlwtf alr o Fordlng-lus [lkgbty, bm. @gwbg Clu onm [fugcgn Yoni, ?9?‛7:. Yosfgnitln, MK0 YlrcmHone.

Cgu, Cgcg, onm Egd [lni ]on. 8::7. –[uhnotglnoc Krbmgt Xotgnis0 O KldporotgvbXbvgbw.— Ylrcm Hone Zlcgky Xbsborkf Ylregni Zopbr 2:?;, Yosfgnitln, MK.

Cgu, Cgcg, onm Dgkfobc Yoghbc. 8::1. –[uhnotglnoc Hlrrlwgni Nltbs ln Dgm-mcb-Gnkldb Kluntrgbs.— Bklnldgk Zlcgky onm Mbht Mbportdbnt, Ylrcm Hone,Yosfgnitln, MK.

”””. 8::6. –[uhnotglnoc Hlrrlwgni, Gnslcvbnky onm Xbiucotglns.— Gn DokrlAbmbrocgsd onm Clkoc Agnonkb, bm. Onwor [fof. Yosfgnitln, MK0 Ylrcm

Hone.”””. 8::7. –[uhnotglnoc Gnslcvbnky onm Ilvbrnonkb0 Krlss-Kluntry Bxpbrg-

bnkbs onm Cbsslns.— Gn Mlbs Mbkbntrocgzotgln Bnfonkb [brvgkb Mbcgvbry onmZlvbrty Xbmuktgln<  bm. Bftgsfod Ofdom onm Iglrigl Hrlsgl. Kfbctbnfod,Rngtbm Egnimld0 Bmworm Bcior.

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donoigni suhnotglnoc krbmgt onm mbaouct rgses 87;

DkKlnnbcc, Dgkfobc, onm Xonmoc Zgkebr. ?77;. –Yfbn Kgtgbs Il Hrleb0 O Kln-kbptuoc Gntrlmuktgln tl Dungkgpoc Honeruptky.— Rngvbrsgty la Kfgkoil CowXbvgbw 1: (8)0 =82‛;2.

Dllmy‗s Gnvbstlrs [brvgkb. 8:?:. [uh-[lvbrbgin Lutclle 8:?:. @onuory. Nbw Wlre.[kfworkz, [tbvbn C. 8::8. –Iclhoc Mbkbntrocgzotgln onm tfb [uhnotglnoc Mbht

Zrlhcbd.— Mueb Cow @lurnoc  2? (=)0 ??97‛82:.

[lutf Oargko Notglnoc ]rbosury. 8::?. Gntbrilvbrndbntoc Agskoc Xbvgbw. Zrbtlrgo.

[tonmorm & Zllr‗s. 8:?:. ]fb Lutclle alr Burlpb‗s Clkoc onm Xbiglnoc Ilvbrn-dbnts. Abhruory =. Nbw Wlre.

Yoccgs, @lfn @lsbpf. 8::=. –Klnstgtutglns, Klrplrotglns onm Klrruptgln0 Odbrg-kon [totbs onm Klnstgtutglnoc Kfonibs, ?6=8‛?628.— NHBX Ylregni Zopbr?:=2?, Notglnoc Hurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

Ybhh, [tbpfbn H. 8::=. –Agskoc Xbsplnsghgcgty Cows alr [uhnotglnoc Mgskgpcgnb0

]fb Cotgn Odbrgkon Bxpbrgbnkbs.— Zlcgky Xbsborkf Ylregni Zopbr ;;:7, YlrcmHone, Yosfgnitln, MK.

Ybgniost, Horry X. 8::9. –[bklnm-Ibnbrotgln Agskoc Abmbrocgsd0 Gdpcgkotglns alrMbvbclpdbnt.— Mbportdbnt la Bklnldgks, [tonalrm Rngvbrsgty, Zocl Octl, KO.

Ylrcm Hone. 8::2. Krbmgtlr Xgifts onm Gnslcvbnky [tonmorm . Yosfgnitln, MK0Ylrcm Hone.

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872

?8

Xbstrukturgni [lvbrbgin Mbhts

wgtf Zrgvotb [bktlr Krbmgtlrs0]fblry onm Zroktgkb

Dore C. @. Yrgift 

[lvbrbgin mbht gs tgdb klnsudgni onm klstcy tl rbstrukturb. ]frluif-lut fgstlry, mbaoucts ln mbht lwbm tl prgvotb sbktlr krbmgtlrs, sukfos klddbrkgoc hones onm hlnmflcmbrs, fovb toebn ocdlst o mbkomb,

ln ovbroib, tl klnkcumb. Xbkbnt rbsborkf fos ocsl alunm tfot prgvotbkrbmgtlrs clsb, ln ovbroib, =: pbrkbnt la tfb vocub la tfbgr kcogd, onmmbhtlr kluntrgbs bxgt mbaouct os lr dlrb fgifcy gnmbhtbm tfon wfbn tfbybntbrbm mbaouct.

Dltgvotbm hy tfbsb aokts, tfgs kfoptbr rbvgbws tfb bdpgrgkoc bvgmbnkbln tfb lutkldbs la slvbrbgin mbht‛rbstrukturgni nbiltgotglns wgtf prg-

votb sbktlr krbmgtlrs wgtf o vgbw tl unklvbrgni tfb dbkfongsds ot wlreonm mbrgvgni plcgky gdpcgkotglns. Gt agnms corib mgaabrbnkbs gn slvbrbginmbht‛rbstrukturgni lutkldbs okrlss mbhtlr kluntrgbs. Mbhts lwbm hyclw-gnkldb kluntrgbs tl alrbgin prgvotb sbktlr krbmgtlrs, sukf os honesonm hlnmflcmbrs, fovb hbbn tfb dlst tgdb klnsudgni tl rbstrukturb, toegni92 pbrkbnt dlrb tgdb tfon tfb mbhts la uppbr-dgmmcb-gnkldb mbaouctgnikluntrgbs. Mbcoys orb portgkucorcy clni gn [uh-[oforon Oargko. Zrgvotbkrbmgtlr clssbs arld mbaouct (–fogrkuts—) fovb ocsl hbbn irbotbst ln clonstl clw-gnkldb kluntrgbs, wgtf clssbs ovbroigni dlrb tfon 2: pbrkbnt kld-porbm wgtf cbss tfon ;: pbrkbnt alr uppbr-dgmmcb-gnkldb kluntrgbs.

Dlst strgegnicy, onm mbspgtb tfb coribr krbmgtlr clssbs, clw-gnkldb klun-trgbs rbkbgvb cgttcb mbht rbcgba arld prgvotb krbmgtlrs, os dbosurbm hy kldpor-gni kluntrgbs‗ mbht tl IMZ rotgls upln kldpcbtgni tfb rbstrukturgni prlkbsswgtf tfbgr mbht tl IMZ rotgls ot tfb hbignngni la tfb mbaouct bpgslmb. Gn aokt,

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871  wrgift

tfb ovbroib mbaouctgni kluntry bxgts mbaouct wgtf tfb rotgl la mbht lwbm tlprgvotb krbmgtlrs tl IMZ os fgif, lr fgifbr, tfon wfbn gt bntbrbm mbaouct.]fgs pfbnldbnln gs portgkucorcy prlnlunkbm alr clw-gnkldb kluntrgbs,

wflsb mbht tl IMZ rotgls rlsb hy dlrb tfon 2: pbrkbnt, onm [uh-[oforonOargkon kluntrgbs, wflsb gnmbhtbmnbss rotgls dlrb tfon mluhcbm.

]fb kfoptbr gs lriongzbm os alcclws. ]fb nbxt sbktgln rbvgbws rbkbntbdpgrgkoc wlre ln mbaouct onm mbht rbstrukturgni onm prbsbnts nbw rbsuctsln tfb vorgotgln gn mbht-rbstrukturgni lutkldbs okrlss kluntrgbs ot mgaabr-bnt cbvbcs la mbvbclpdbnt onm gn mgaabrbnt rbiglns. ]fb alcclwgni sbktglnrbvgbws tfb rbkbnt tfblrbtgkoc cgtbroturb ln tfb prlkbss la rbstrukturgnislvbrbgin mbhts tl prgvotb krbmgtlrs, wgtf o vgbw tl gmbntgaygni tfb unmbr-cygni kousbs la tfbsb lutkldbs. Gt agnms tfot o nudhbr la bxpconotglns orb

kopohcb la bxpcogngni tfb cbnitfy mbcoys gn kldpcbtgni mbht-rbstrukturgnilpbrotglns, sldb la wfgkf ocsl bxpcogn tfb sgzb la lhsbrvbm fogrkuts. Abw,flwbvbr, fovb dukf tl soy ohlut tfb kousbs la tfb suhstontgoc rgsb gngnmbhtbmnbss. ]fb cost sbktgln prlvgmbs sldb klnkcumgni rbdores.

[lvbrbgin Mbht Xbstrukturgni gn Zroktgkb

]fgs sbktgln rbvgbws bvgmbnkb ln tfb lutkldbs la slvbrbgin mbht rbstruktur-gni wgtf prgvotb sbktlr krbmgtlrs gn proktgkb. Oatbr mbskrghgni moto slurkbs,tfb bvgmbnkb ln mbcoys gn rbstrukturgni, krbmgtlr fogrkuts, onm kfonibs gngnmbhtbmnbss orb prbsbntbm gn turn.

Moto

Ottbntgln gs rbstrgktbm tl mbaoucts ln slvbrbgin mbhts lwbm tl prgvotbsbktlr krbmgtlrs, sukf os klddbrkgoc hones onm hlnm flcmbrs, hbkousbsukf mbaoucts sbbd dlst mgaagkuct tl rbslcvb gn proktgkb, os dbosurbm hytfb murotgln la tfb mbaouct.?  Lnb cgdgtotgln la tfgs rbstrgktgln gs tfot

tfb gntbroktgln hbtwbbn tfb mbht rbcgba lhtognbm arld laagkgoc krbmgtlrsonm rbcgba lhtognbm arld prgvotb krbmgtlrs konnlt hb stumgbm. ]fgs gntbr-oktgln gs arbqubntcy gdplrtont, os gn tfb kosb la mbht rbcgba unmbr tfbFbovgcy Gnmbhtbm Zllr Kluntrgbs (FGZK) Gngtgotgvb. Bcgighcb kluntrgbsrbkbgvb FGZK Gngtgotgvb mbht rbcgba arld portgkgpotgni laagkgoc onm prgvotbkrbmgtlrs. ]fb tltoc klst la klddgttbm mbht rbcgba unmbr tfb FGZK Gngtgo-tgvb wos $26.2 hgccgln gn nbt prbsbnt vocub tbrds ($98 hgccgln gn nldg-noc tbrds) ot tfb bnm la 8::7. Zrgvotb sbktlr krbmgtlrs prlvgmbm ohlut1 pbrkbnt la tltoc FGZK rbcgba.8 Rnmbr tfb Ductgcotbroc Mbht Xbcgba

Gngtgotgvb (DMXG), bcgighcb kluntrgbs ocsl rbkbgvb rbcgba arld tfb YlrcmHone, tfb Gntbrnotglnoc Dlnbtory Aunm (GDA), tfb Oargkon Mbvbclp-dbnt Hone, onm tfb Gntbr-Odbrgkon Mbvbclpdbnt Hone. DMXG rbcgbaodluntbm tl $81.1 hgccgln gn nbt prbsbnt vocub tbrds ($=2 hgccgln gnnldgnoc tbrds) ot tfb bnm la 8::7.

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr 879 

[lvbrbgin mbht gnkcumbs mbht lwbm bgtfbr mgrbktcy hy o kluntry‗s notglnocilvbrndbnt lr gnmgrbktcy hy vgrtub la o ilvbrndbnt iuorontbb. ]fb dlstkldprbfbnsgvb onm wgmbcy usbm slurkb la moto ln tfb motbs la mbaoucts

ln slvbrbgin mbht lwbm tl prgvotb sbktlr krbmgtlrs, os wbcc os tfb motbsla sbttcbdbnts la tfbsb mbaoucts, gs puhcgsfbm hy [tonmorm & Zllr‗s ([&Z)(Hbbrs onm Kfodhbrs 8::1). [&Z mbagnbs o mbaouct ln o mbht klntrokt tlfovb lkkurrbm ga o poydbnt gs nlt domb wgtfgn ony irokb pbrglm spbkgagbmgn tfb klntrokt lr ga mbhts orb rbskfbmucbm ln tbrds cbss aovlrohcb tfontflsb spbkgagbm gn tfb lrgignoc klntrokt. [&Z mbagnbs tfb bnm la o mbaouct oslkkurrgni wfbn o sbttcbdbnt lkkurs, typgkoccy gn tfb alrd la on bxkfonibla nbw mbht alr lcm mbht, onm wfbn gt `umibs tfot –nl aurtfbr nbor-tbrdrbslcutgln la krbmgtlrs kcogds gs cgebcy— (Hbbrs onm Kfodhbrs 8::1, p. 88).

Kluntrgbs latbn mbaouct, rbstrukturb tfbgr mbhts wgtf o nbw mbht gssub, onmtfbn mbaouct oiogn tfb sodb lr tfb alcclwgni ybor. [&Z trbots sukf bvbntsos port la tfb sodb mbaouct bpgslmb.

Moto ln prgvotb krbmgtlr clssbs orb mrown arld Hbn`odgn onm Yrgift(8::7), wfl usb o dbtflm hosbm ln borcgbr bstgdotbs hy Kcgnb (?772). Gnlrmbr tl lhtogn tfb coribst sodpcb plssghcb, onm tl bnsurb klnsgstbnky latrbotdbnt okrlss mbaouct bpgslmbs, tfby hosb tfbgr dbosurbs ln tfb YlrcmHone‗s bstgdotbs la mbht stlke rbmuktgln, gntbrbst onm prgnkgpoc alrigvbn,onm mbht huyhokes, os puhcgsfbm gn Iclhoc Mbvbclpdbnt Agnonkb (IMA )(8::7). ]fb Ylrcm Hone‗s bstgdotbs la tfb rbmuktgln gn tfb aokb vocub la tfbmbht orb kldhgnbm wgtf bstgdotbs la tfb alrigvbnbss la orrbors ln gntbrbstonm prgnkgpoc. Os tfb Ylrcm Hone moto ml nlt mgstgniugsf hbtwbbn alrigvb-nbss la mbhts hy prgvotb krbmgtlrs onm alrigvbnbss hy laagkgoc krbmgtlrs, tfbtltoc odlunt la alrigvbnbss gs skocbm hy bstgdotbs la tfb tltoc odlunt lambht rbnbiltgotbm onm tfb prlplrtgln la mbht lwbm tl prgvotb krbmgtlrs,usgni moto arld hltf tfb IMA  onm tfb Gnstgtutb la Gntbrnotglnoc Agnonkb(8::?). ]fgs prlkbss gs lncy opprlxgdotb5 gt gs plssghcb tfot brrlrs rbdogn.

]fb rbsuctgni sbrgbs ln prgvotb krbmgtlr fogrkuts klvbrs 7: mbaoucts onmrbnbiltgotglns hy 9; sbporotb kluntrgbs tfot wbrb kldpcbtbm oatbr IMA  

moto ln mbht alrigvbnbss agrst hbkodb ovogcohcb, gn ?767, onm tfot bnmbmhbalrb 8::=. ]fb moto ln mbaouct motbs onm fogrkuts orb kldhgnbm wgtfmoto ln vorglus gnmgkotlrs la bklnldgk oktgvgty toebn arld tfb YlrcmHone‗s Ylrcm Mbvbclpdbnt Gnmgkotlrs (8::7) onm IMA (8::7) moto lntfb stlke la clni-tbrd slvbrbgin mbht lutstonmgni onm lwbm tl prgvotbkrbmgtlrs. [flrt-tbrd mbht gs bxkcumbm hbkousb moto mgsoiirbiotbm hy typbla krbmgtlr orb nlt ovogcohcb.

Gt gs gdplrtont tl nltb tfot tfb sodpcb doy nlt hb bntgrbcy rbprbsbnto-tgvb. ]fb moto ln fogrkuts, alr bxodpcb, wbrb klnstruktbm arld tfb Ylrcm

Hone moto ln mbht alrigvbnbss, wfgkf wbrb nlt ovogcohcb alr occ bpgslmbs.Dlrblvbr, nlt occ mbaoucts hbion onm bnmbm wgtfgn tfb pbrglm ?767‛8::=,alr wfgkf tfbsb moto orb ovogcohcb. ]fgs dbons tfot tfb sodpcb gs hltf cbatonm rgift kbnslrbm. Flwbvbr, gt oppbors tfot tfb sodpcb klntogns tfb vostdo`lrgty la occ mbaoucts ln prgvotb sbktlr mbhts murgni tfgs pbrglm. ]ldz onm

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876  wrgift

Yrgift (8::9) rbplrt tfot tfbrb wbrb ?8? mbaoucts gn tfb ybors oatbr ?79:onm ??: sgnkb ?76:, gdpcygni tfot tfb moto sbt usbm fbrb, wgtf gts 7: mbaoucts,klvbrs tfrbb-quortbrs la tfb mbaoucts tfot lkkurrbm. ]fb sodpcb mlbs nlt

gnkcumb mbht-rbstrukturgni lpbrotglns tfot wbrb klnmuktbm slcbcy wgtf laag-kgoc krbmgtlrs unmbr tfb ouspgkbs la tfb Zorgs Kcuh lr unmbr tfb FGZK Gngtgo-tgvb. Dlrogs onm Yrgift (8::6) rbplrt 879 rbskfbmucgnis la mbht tl laagkgockrbmgtlrs onm ?;: la mbht tl prgvotb krbmgtlrs gn tfb plstwor pbrglm.

Agnmgnis

]fgs suhsbktgln prbsbnts tfb bdpgrgkoc agnmgnis. Gt hbigns hy bxodgngni tfblhsbrvbm mbcoys gn rbstrukturgni hbalrb turngni tl krbmgtlr fogrkuts onm

kfonibs gn gnmbhtbmnbss.Mbcoys gn Xbstrukturgni. Cllegni okrlss occ kluntrgbs gn lur sodpcb laslvbrbgin mbaoucts ln mbhts lwbm tl prgvotb sbktlr krbmgtlrs, mbcoys gnrbstrukturgni ovbroibm 9.= ybors.; ]fb mgstrghutgln gs fgifcy sebwbm, wgtftfb dbmgon mbaouct toegni ohlut sgx ybors tl hb rbslcvbm. ]fbsb agiurbs orbscgiftcy clwbr tfon tfb ovbroib murotgln la mbaouct rbklrmbm gn o kbnsusla mbaoucts lvbr tfb post twl kbnturgbs hy Zgtkfalrm onm Yrgift (8::9),wfl rbplrt on ovbroib mbcoy la 6.6 ybors5 tfby orb scgiftcy fgifbr tfontfbgr 1.2-ybor bstgdotb la mbcoys alr mbaoucts bnmgni oatbr ?791. ]fbrb orb

tfrbb gnstonkbs la mbaoucts hbgni klntgiulus gn tgdb, gn tfb sbnsb tfot [&Zmotbs o mbaouct hy o kluntry os bnmgni gn tfb sodb ybor lr tfb ybor hbalrbonltfbr mbaouct hbigns. ]fbsb kosbs sbbd gnklnsgstbnt wgtf tfb proktgkb hy[&Z la dbrigni klntgiulus mbaouct bvbnts. ]rbotgni tfbsb mbaoucts os osgnicb mbaouct bpgslmb rogsbs tfb bstgdotbm mbcoys lncy scgiftcy, flwbvbr, tlon ovbroib la 9.1 ybors.

]fbrb gs klnsgmbrohcb vorgotgln gn mbcoys okrlss irlups la kluntrgbs.]fb ovbroib clw-gnkldb kluntry bxpbrgbnkbm mbcoys la dlrb tfon ngnbybors, wfgcb tfb ovbroib uppbr-dgmmcb-gnkldb kluntry wos ohcb tl rbstruk-

turb gts mbhts gn `ust lvbr agvb onm o foca ybors (agiurb ?8.?).=

 Mbcoys wbrbclnibr gn [uh-[oforon Oargko (6.2 ybors) tfon gn Cotgn Odbrgko onm tfbKorghhbon (9.2 ybors) lr Burlpb onm Kbntroc Osgo (=.2 ybors) (agiurb ?8.8).Hbkousb tfb nudhbr la mbaoucts gn sldb rbiglns wos sdocc, lnb dust hbkorbauc ohlut doegni ibnbrocgzotglns, flwbvbr.

Fogrkuts. Rsgni tfb sodb sodpcb la mbht-rbstrukturgni bpgslmbs usbm gntfgs kfoptbr, Hbn`odgn onm Yrgift (8::7) agnm tfot fogrkuts, wbgiftbm hytfb cbvbc la lutstonmgni mbht, ovbroibm ;6 pbrkbnt. ]fb dbmgon fogrkutwos scgiftcy fgifbr, ot =8 pbrkbnt. ]fbrb wos klnsgmbrohcb vorgotgln gn

tfb sgzb la fogrkuts okrlss kluntrgbs, wgtf sldb irlups la prgvotb krbmg-tlrs nlt clsgni ot occ arld o rbstrukturgni onm ltfbrs clsgni os dukf os7: pbrkbnt la tfb vocub la tfbgr kcogd.

]fbrb gs o tbnmbnky alr fogrkuts tl mbkcgnb os tfb gnkldb cbvbc la okluntry gnkrbosbs (sbb agiurb ?8.?). Fogrkuts wbrb coribst gn clw-gnkldb

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr 877

?:

6

1

=

8

:

2:

=:

;:

8:

?:

:clw-gnkldb

kluntrgbs (n  4 81)

clwbr-dgmmcb-gnkldb

kluntrgbs (n  4 ;?)

uppbr-dgmmcb-gnkldb

kluntrgbs (n  4 ;?)

  y  b  o  r  s

  p  b  r  k  b  n   t

cbnitf la mbcoy (cbat oxgs) sgzb la fogrkut (rgift oxgs)

Agiurb ?8.? Murotgln la Mbht-Xbstrukturgni Mbcoys onm [gzbla Fogrkuts, hy Gnkldb Cbvbc la Mbhtlr Kluntry

[lurkb0 Outflr‗s kockucotglns.

kluntrgbs, wfbrb tfby bxkbbmbm 2: pbrkbnt, ln ovbroib, onm clwbst gnuppbr-dgmmcb-gnkldb kluntrgbs, ot ohlut ;6 pbrkbnt. Clwbr-dgmmcb-gn-kldb kluntrgbs wbrb ot tfb sodpcb dbon la ;7 pbrkbnt. ]fb moto ocsl kln-agrd tfb strlni klrrbcotgln hbtwbbn mbcoys gn rbstrukturgni onm fogrkutsalunm gn Hbn`odgn onm Yrgift (8::7)0 clnibr mbaoucts wbrb osslkgotbmwgtf coribr fogrkuts.

[ldbwfot cbss mgspbrsgln oppbors wfbn tfb moto orb mgsoiirbiotbmhy rbigln. ]fb coribst fogrkuts wbrb gn [uh-[oforon Oargko, wfbrb tfbyovbroibm ocdlst 2: pbrkbnt5 gn tfb sdocc sodpcb la Bost Osgon onm Zokgagkmbaoucts, fogrkuts wbrb ;6 pbrkbnt (sbb agiurb ?8.8). ]fb ovbroib fogrkutokrlss tfb Burlpb onm Kbntroc Osgon, Cotgn Odbrgkon onm tfb Korghhbon,onm Dgmmcb Bost onm Nlrtf Oargkon rbiglns wos ohlut ;: pbrkbnt.

Gnmbhtbmnbss onm Mbht Xbcgba. O rbstrukturgni tfot gdplsbs o corib fogrkutln prgvotb sbktlr krbmgtlrs nbbm nlt rbsuct gn o suhstontgoc rbmuktgln la tfbmbht hurmbn aokgni o kluntry, ot cbost wfbn tfb mbht hurmbn gs mbagnbm os

tfb rotgl la mbht tl IMZ, os Hbn`odgn onm Yrgift (8::7) nltb. Bvbn ga okluntry‗s mbht gs wrgttbn mlwn, ga gts IMZ aoccs hy dlrb, tfb mbht tl IMZrotgl wgcc rgsb. [ldbwfot cbss lhvgluscy, kockucotglns la fogrkuts wgcc rb-acbkt tfb tgdb klst la wogtgni alr tfb sbttcbdbnt, wfgkf wgcc nlt hb rbacbktbmgn tfb mbht tl IMZ rotgl la tfb kluntry. Agnoccy, os tfb moto orb dbosurbm

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr ;:?

clw-gnkldb

kluntrgbs (n  4 8:)

clwbr-dgmmcb-gnkldb

kluntrgbs (n  4 81)

uppbr-dgmmcb-gnkldb

kluntrgbs (n  4 8=)

?.1

?.=

?.8

?.:

:.6

:.1

:.=

:.8

:

   m  b   h   t   t  l   I   N   G  r  o   t   g  l  o   a   t  b  r   m  b   a  o  u

   c   t   /   m  b   h   t

   t  l   I   N   G  r  o   t   g  l   h  b   a  l  r  b   m  b   a  o

  u   c   t

Agiurb ?8.; Kfonib gn Gnmbhtbmnbss tl Zrgvotb Krbmgtlrsalcclwgni Mbht Xbstrukturgni, hy Gnkldb Cbvbc la MbhtlrKluntry

[lurkb0 Outflr‗s kockucotglns.

(agiurbs ?8.; onm ?8.=). Odlni hltf irlups la kluntrgbs, tfb gnkrbosb gssuhstontgoc0 mbht tl IMZ rotgls rlsb ocdlst 1: pbrkbnt gn clwbr-gnkldbkluntrgbs onm 9: pbrkbnt gn clwbr-dgmmcb-gnkldb kluntrgbs. Rppbr dgm-

mcb-gnkldb kluntrgbs aorbm hbttbr, hut bvbn odlni tfbd, mbht tl IMZrotgls abcc hy cbss tfon ?: pbrkbnt.

Gnmbhtbmnbss cbvbcs abcc ocdlst ?: pbrkbnt gn [lutf Osgo onm 2 pbrkbntgn tfb Dgmmcb Bost onm Nlrtf Oargko5 gn bvbry ltfbr rbigln, gnmbhtbmnbsscbvbcs rlsb. ]fb gnkrbosbs wbrb bspbkgoccy corib gn [uh-[oforon Oargko,wfbrb mbht rbstrukturgni cbat kluntrgbs ocdlst twgkb os gnmbhtbm tl prgvotbsbktlr krbmgtlrs os hbalrb tfby bntbrbm mbaouct.

]l prldltb o mbbpbr pbrspbktgvb ln tfbsb agnmgnis, tfgs kfoptbr bxod-gnbs nbxt tfb bvlcutgln la gnmbhtbmnbss tl prgvotb krbmgtlrs alr tfrbb [uh-

[oforon Oargkon kluntrgbs, kflsbn tl gccustrotb eby aboturbs la tfb moto.Ngibrgo mbaouctbm twgkb gn tfb post =: ybors. ]ltoc mbht lwbm tl prgvotbkrbmgtlrs gnkrbosbm arld ohlut ?: pbrkbnt la irlss notglnoc gnkldb (ING)gn ?768 ot tfb stort la Ngibrgo‗s mbaouct tl dlrb tfon ;: pbrkbnt hy tfbbnm la tfb mbaouct gn ?778 (agiurb ?8.2). ]fgs gnkrbosb wos mrgvbn ocdlstbntgrbcy hy tfb gnkrbosb gn tfb –ltfbr prgvotb krbmgtlr— kotbilry, wgtf kld-dbrkgoc hone mbht fovgni hbbn bxtgniugsfbm hy tfb bnm la tfb mbaouct onmrbpcokbm wgtf o sdoccbr gssuonkb la nbw slvbrbgin hlnms. ]fb alkus ln

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;:8  wrgift

   D

   g  m  m   c  b    B  o

  s   t   o  n

  m

   N  l  r   t   f   O

  a  r   g  k  o

  (   n   4

   =   )    B  u

  r  l  p  b

   o  n  m

  K  b  n   t

  r  o   c   O

  s   g  o

  (   n   4

   1   )

  [  l  u   t   f   O

  s   g  o

  (   n   4

   8   )

   B  o  s   t 

  O  s   g  o   o

  n  m

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   g  k

  (   n

   4   ;   )

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  d  b  r   g  k  o

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8.:

?.:

:

?.2

:.2   m  b   h   t   t  l   I   N   G  r  o   t   g  l  o   a   t  b  r   m  b   a  o  u   c   t   /   m  b   h   t

   t  l   I   N   G  r  o

   t   g  l   h  b   a  l  r  b   m  b   a  o  u   c   t

Agiurb ?8.= Kfonib gn Gnmbhtbmnbss tl Zrgvotb Krbmgtlrsalcclwgni Mbht Xbstrukturgni, hy Xbigln la Mbhtlr Kluntry

[lurkb0 Outflr‗s kockucotglns.

mbht lwbm tl prgvotb krbmgtlrs mrostgkoccy unmbrstotbs tfb irlwtf gn tltocgnmbhtbmnbss, wfgkf rlsb arld ocdlst ?2 pbrkbnt la ING gn ?768 tl dlrbtfon ?:: pbrkbnt la ING gn ?778, lnkb laagkgoc mbhts orb gnkcumbm. Hy

klntrost, tfb 8::8 mbaouct wos osslkgotbm wgtf sdocc mbkcgnbs gn occ typbsla gnmbhtbmnbss.

Gn tfb [bykfbccbs, o suhstontgoc gnkrbosb gn cbnmgni arld ltfbr prgvotbkrbmgtlrs ocsl lutwbgifs o scgift rbmuktgln gn klddbrkgoc hone gnmbhtbm-nbss, rbsuctgni gn on lvbrocc gnkrbosb gn gnmbhtbmnbss tl prgvotb krbmgtlrs(agiurb ?8.1). ]fb pgkturb gs doingagbm lnkb laagkgoc mbhts orb gnkcumbm.

Gn hltf Ngibrgo onm tfb [bykfbccbs, tfb alkus ln prgvotb sbktlr krbmgtlrstbnmbm tl unmbrstotb tfb rgsb gn gnmbhtbmnbss alcclwgni o sbttcbdbnt. Gnltfbr kosbs, gn wfgkf gnmbhtbmnbss tl prgvotb sbktlr krbmgtlrs aoccs, o rgsb

gn laagkgoc mbhts rbsucts gn o mgaabrbnt quocgtotgvb pgkturb. [gbrro Cblnb wosgn mbaouct gn ?761‛?772 onm ?779‛76. Hy tfb bnm la tfb agrst mbaouct, mbhtlwbm tl prgvotb krbmgtlrs fom aoccbn arld dlrb tfon 2: pbrkbnt la ING tlrluifcy ?: pbrkbnt (agiurb ?8.9). Flwbvbr, tfb mbkcgnb wos dlrb tfon laa-sbt hy o rgsb gn laagkgoc mbht tfot pusfbm tltoc gnmbhtbmnbss arld 9: pbrkbnt

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr ;:;

tl dlrb tfon ?:: pbrkbnt la ING. Murgni tfb sbklnm mbaouct, hy klntrost,

hltf prgvotb onm laagkgoc gnmbhtbmnbss rlsb, prbsudohcy hbkousb laagkgockrbmgtlrs cbnm tl clw-gnkldb kluntrgbs gn orrbors tl prgvotb krbmgtlrs. Ossukf cbnmgni gs dukf cbss cgebcy gn tfb kosb la dgmmcb-gnkldb kluntrgbs, gtdoy bxokbrhotb tfb rbcotgvb kfonibs gn gnmbhtbmnbss.

]fblrgbs la onm Zlcgky Cbsslns alr [lvbrbginMbht Xbstrukturgni

Yfot bxpcogns tfb pottbrn la mbaouct, sbttcbdbnts, krbmgtlr clssbs, onmmbht rbcgba gmbntgagbm ohlvb< Orb tfbsb pottbrns cgebcy tl pbrsgst gntl tfbauturb< Ga sl, kon mldbstgk plcgky doebrs, krbmgtlr kluntry ilvbrndbnts,lr supronotglnoc gnstgtutglns ml onytfgni tl gdpcbdbnt dlrb mbsgrohcbmbht-rbstrukturgni lutkldbs gn tfb auturb<

?.=

?.8

?.:

:.6

:.1

:.=

:.8

:

?79: ?76: ?77: 8::: 8:?:8::2?792 ?762 ?772

laagkgoc hone hlnms ltfbr prgvotb

  s  l  v  b  r  b   g  i  n   m  b   h   t   /   I   N   G

Agiurb ?8.2 [lvbrbgin Gnmbhtbmnbss gn Ngibrgo, ?79:‛8:?:

[lurkb0 Outflr, hosbm ln moto arld tfb Ylrcm Hone‗s Iclhoc MbvbclpdbntAgnonkb motohosb.

Nltb0 [fombm rbktonicbs gnmgkotb pbrglms gn wfgkf kluntry wos gn mbaouct.

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;:=  wrgift

]fgs sbktgln rbvgbws octbrnotgvb tfblrbtgkoc bxpconotglns alr tfb pottbrnsla mbht rbstrukturgnis gn on ottbdpt tl onswbr sldb la tfbsb qubstglns.Gt hbigns hy bxodgngni tfblrbtgkoc bxpconotglns alr mbht-rbstrukturgnilutkldbs, toegni os igvbn tfb aokt tfot tfb mbhtlr kluntry fos ocrbomymbaouctbm. Krbmgtlrs orb dlmbcbm os doxgdgzgni prlagts5 fbnkb, tfb tfbl-rgbs spboe tl tfb prlkbss la rbstrukturgni mbhts lwbm tl prgvotb krbmgtlrsos lpplsbm tl laagkgoc mbht rbstrukturgni, wfbrb klnsgmbrotglns la bqugtylatbn kldb gntl pcoy.

Dukf la tfb borcy cgtbroturb ln horiogngni lvbr slvbrbgin mbht onm mbht

rbstrukturgni ohstroktbm arld tfb plssghgcgty la mbcoys gn horiogngni lralunm tfot nl mbcoys lkkurrbm gn bqugcghrgud. Lnb la tfb dlst gdplrtontborcy mynodgk horiogngni dlmbcs la slvbrbgin mbht gs hy Huclw onm Xlilaa(?767), wfl dlmbc rbpbotbm horiogngni hbtwbbn tfb mbhtlr onm o sgnicbkrbmgtlr tl stumy tfb klnstont rbklntroktgni la slvbrbgin mbht lvbr tgdb

?76: ?77: 8::: 8:?:8::2?792 ?762 ?772

laagkgoc hone hlnms ltfbr prgvotb

:.6

:.1

:.=

:.8

:

  s  l  v  b  r  b   g  i  n   m  b   h   t   /   I   N   G

Agiurb ?8.1 [lvbrbgin Gnmbhtbmnbss gn tfb [bykfbccbs,?76:‛8:?:

[lurkb0 Outflr, hosbm ln moto arld tfb Ylrcm Hone‗s Iclhoc MbvbclpdbntAgnonkb motohosb.

Nltb0 [fombm rbktonicbs gnmgkotb pbrglms gn wfgkf kluntry wos gn mbaouct.

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr ;:2

gn wfgkf tfb nbw klntrokt gs gdpcbdbntbm gddbmgotbcy. Abrnïnmbz-Orgos

(?77?) gnklrplrotbs o rgkfbr spbkgagkotgln la tfb mbhtlr bklnldy wgtflutkfonigni tfgs aunmodbntoc rbsuct. Abrnïnmbz onm Xlsbntfoc (?766, ?767)ocsl dlmbc horiogngni lvbr tgdb wgtf abbmhokes tl tfb mldbstgk bklnldy,hut tfby ml nlt alkus ln kosbs gn wfgkf nbiltgotglns spon ductgpcb pbrglms.Oiiorwoc (?771) prbsbnts o sugtb la dlmbcs, wfgkf fb usbs tl gntbrprbttfb fgstlry la slvbrbgin mbaouct wgtflut bdpfosgzgni mbcoy. Hy klntrost,tfb alkus fbrb gs ln dlmbcs tfot prlmukb o mbcoy gn bqugcghrgud.

]frluiflut, tfgs kfoptbr mgskussbs tflsb plcgky gntbrvbntglns tfot orbcgebcy tl hb dlst mbsgrohcb. Gn mlgni sl, gt gs gdplrtont tl hbor gn dgnm tfot

tfbrb doy bxgst o klnacgkt hbtwbbn oktglns tfot rbmukb tfb klsts la mbaoucttlmoy onm oktglns mbsginbm tl bnsurb dlrb aovlrohcb okkbss tl krbmgt gn tfbauturb. Gn portgkucor, lnkb o kluntry fos mbaouctbm, gt gs tbdptgni tl unmbr-toeb oktglns tfot rbmukb tfb klst la mbaouct tl tfot kluntry. Flwbvbr, gntbr-notglnoc krbmgt dorebts doy pbrkbgvb sukf oktglns os krbotgni on gnkbntgvb

?79: ?76: ?77: 8::: 8:?:8::2?792 ?762 ?772

laagkgoc hone ltfbr prgvotb

?.=

?.1

?.6

?.8

?.:

:.6

:.1

:.=

:.8

:

  s  l  v  b  r  b   g  i

  n   m  b   h   t   /   I   N   G

Agiurb ?8.9  [lvbrbgin Gnmbhtbmnbss gn [gbrro Cblnb,?79:‛8::7

[lurkb0 Outflr, hosbm ln moto arld tfb Ylrcm Hone‗s Iclhoc MbvbclpdbntAgnonkb motohosb.

Nltb0 [fombm rbktonicbs gnmgkotb pbrglms gn wfgkf kluntry wos gn mbaouct.

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;:1  wrgift

alr tfot kluntry, os wbcc os ltfbr kluntrgbs, tl mbaouct gn tfb auturb, rogsgnitfb gntbrbst rotbs kforibm ln slvbrbgin hlrrlwgni. ]fgs gs o kcossgk tgdbgnklnsgstbnky prlhcbd0 o kluntry tfot wgsfbs tl gssub mbht wgcc wont tl

klddgt tl dbosurbs tfot doeb tfb klst la mbaouct fgif gn lrmbr tl sbkurbclwbr gntbrbst rotbs tlmoy, hut gt wgcc wont tl unml tfbsb dbosurbs gn tfbbvbnt tfot o mbaouct oktuoccy lkkurs. Hbclw, o nudhbr la rbalrds o kluntrykon klddgt tl gn wflcb lr gn port orb bxodgnbm wgtf o vgbw tl mbtbrdgn-gni tfbgr plssghcb baabkts ln hltf tfb klst la mbaouct bx plst onm tfb wbcaorbla mbhtlr kluntrgbs bx ontb (sbb Mllcby 8::: alr o mgskussgln).

Dony la tfb bxpconotglns alr tfb mbht-rbstrukturgni lutkldbs mlku-dbntbm ohlvb, gn portgkucor bxpconotglns alr tfb suhstontgoc mbcoys gnklnkcumgni mbht-rbstrukturgni lpbrotglns, alkus ln tfb mgaagkuctgbs aokbm

hy krbmgtlrs gn kllrmgnotgni tl doeb dutuoccy hbnbagkgoc oirbbdbnts wgtftfb mbhtlr. ]frbb sukf bxpconotglns orb rbvgbwbm hbalrb turngni tl bxpco-notglns tfot alkus ln tfb gnstgtutglnoc bnvgrlndbnt wgtfgn tfb mbaouctgnikluntry onm tfb gnalrdotgln onm bnalrkbdbnt plssghgcgtgbs tfot ilvbrnslvbrbgin hlrrlwgni gn tfb agrst pcokb.

Xbstrukturgni Nbiltgotglns wgtf Rnkllrmgnotbm Krbmgtlrs

Mbht gs latbn lwbm tl o corib nudhbr la prgvotb sbktlr krbmgtlrs. Gn tfbkosb la tfb hone clons tfot wbrb rbstrukturbm alcclwgni tfb ?76:s mbhtkrgsgs, dony kluntrgbs fom tl nbiltgotb wgtf mlzbns la hones5 gn tfb kosbla hlnm gssubs, gt gs nlt unklddln alr hlnm flcmbrs tl nudhbr gn tfbtflusonms. Nbiltgotgni o mbht rbstrukturgni gs tfbrbalrb mgaagkuct hltfdbkfongkoccy (gt gs klstcy tl kotocliub onm klddungkotb wgtf o mgspbrsbmirlup la krbmgtlrs) onm hbkousb la o nudhbr la klccbktgvb oktgln prlhcbdsosslkgotbm wgtf mbht rbstrukturgni, tfrbb la wfgkf orb mgskussbm fbrb.

]fb agrst klccbktgvb oktgln prlhcbd, wfgkf wos fgifcgiftbm murgni tfb?76:s mbht krgsgs, klnkbrns tfb puhcgk illm noturb la mbht rbcgba. Ga onylnb hone oirbbs tl laabr mbht rbcgba hy rbmukgni gts kcogds ln o kluntry, tfb

vocub la occ ltfbr hones‗ kcogds doy gnkrbosb. ]fbrb gs o kcossgk arbb-rgmbrprlhcbd, gn wfgkf sldb hones ml nlt laabr mbht rbcgba gn tfb flpb tfottfby kon arbb rgmb ln tfb mbht rbcgba laabrbm hy ltfbr hones.

O vorgbty la gnalrdoc dbkfongsds orlsb tl mboc wgtf tfgs prlhcbd odlniprgvotb krbmgtlrs, ochbgt gdpbrabktcy. Hone omvgslry klddgttbbs wbrb sbt upgn wfgkf rbprbsbntotgvbs la tfb do`lr hone krbmgtlrs wbrb rbsplnsghcb alr,odlni ltfbr tfgnis, klnvgnkgni sdoccbr hones tl portgkgpotb gn tfb rbstruk-turgni prlkbss. O nudhbr la mgaabrbnt dbtflms wbrb usbm. Mbvcgn (?767)oriubs tfot coribr hones usbm tfbgr klntokt wgtf tfbsb sdoccbr hones gn

ltfbr dorebts os on gnmukbdbnt tl portgkgpotb. Dgcgvl`bvg ½k (?762) sui-ibsts tfot sukf gnkbntgvbs wlre tfrluif tfb –nbtwlre la gnacubnkb— tfotcorib hones fovb ln sdocc hones, wfgkf gnkcumbs tfrbots tl bxkcumb arbbrgmbrs arld auturb synmgkotbs, tbrdgnotb klrrbsplnmbnt honegni aokgcg-tgbs, onm kut gntbrhone cgnbs. Gn ommgtgln, gn sldb kosbs mbhtlrs oppbor tl

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;:6  wrgift

fovb on gnkbntgvb tl mbcoy oirbbgni tl ony rbstrukturgni prlplsoc gnvlcvgnio rbmuktgln gn tfb vocub la tfbgr kcogd gn tfb flpb tfot ltfbr krbmgtlrswgcc oirbb agrst onm occlw tfb flcmluts tl bxtrokt aucc rbpoydbnt cotbr ln.

Zgtkfalrm onm Yrgift (8::9, 8::7) fovb klnstruktbm dlmbcs la tfgs pfb-nldbnln tfot sflw tfot sukf gnkbntgvbs orb strlni bnluif tl bxpcogn tfbsuhstontgoc mbcoys gn rbstrukturgni tfot orb lhsbrvbm gn proktgkb.

O nudhbr la plcgky prlplsocs fovb hbbn omvonkbm tl mboc wgtf tfgsprlhcbd. Borcy prlplsocs gnkcumbm tfb rbgntrlmuktgln la hlnmflcmbrklunkgcs (Bgkfbnirbbn onm Zlrtbs ?767, ?7725 Bgkfbnirbbn 8::8) onm tfbgntrlmuktgln la o supronotglnoc honeruptky klurt (Erubibr 8::?, 8::8o,8::8h). Dlst nltohcb fos hbbn tfb gntrlmuktgln la klccbktgvb oktgln kcousbsgntl hlnm klntrokts tfot occlw o supbrdo`lrgty la hlnmflcmbrs tl gdplsb

klddln rbstrukturgni tbrds ln dgnlrgty flcmluts (sbb ]oyclr 8::8). Klc-cbktgvb oktgln kcousbs fovb nlw hbkldb stonmorm gn hlnms gssubm unmbrNbw Wlre cow. Zgtkfalrm onm Yrgift (8::9) bxodgnb tfb cgebcy baabkt lasukf kcousbs wgtfgn tfb klntbxt la tfbgr kocghrotbm dlmbc. ]fby agnm tfotsukf kcousbs wgcc cgebcy rbmukb, octfluif nlt bcgdgnotb, mbcoys gn rbstruk-turgni. ]fby ocsl sflw tfot octfluif klccbktgvb oktgln kcousbs wgcc gnkrbosbtfb gnkbntgvb alr mbhtlr kluntrgbs tl mbaouct, tfb klst la hlrrlwgni hytfbsb kluntrgbs wgcc cgebcy nlt gnkrbosb, hbkousb tfb gnkrbosbm mbaouct rgsegs laasbt hy coribr onm dlrb tgdbcy sbttcbdbnt poydbnts.

O tfgrm klccbktgvb oktgln prlhcbd”tfb pltbntgoc alr arbb rgmgni ln nbil-tgotgln klsts”gs ot tfb fbort la wfy Zgtkfalrm onm Yrgift (8::7) agnm tfotklccbktgvb oktgln kcousbs orb cgebcy tl rbmukb hut nlt bcgdgnotb mbcoy. Yfbnklccbktgvb oktgln kcousbs orb usbm tl gdplsb klddln sbttcbdbnt tbrds lnhlnm flcmbrs, tfby rbmukb tfb cotgtumb la mgskrgdgnotlry sbttcbdbnts hbgniusbm tl kldpbnsotb tflsb hlnm flcmbrs wfl toeb tfb cbom gn nbiltgotglnsonm hy klnsbqubnkb hbor tfb hrunt la tfbsb klsts. Zgtkfalrm onm Yrgift(8::7) prlvgmb bvgmbnkb tfot tfbsb klsts orb vbry corib (dlrb tfon ; pbr-kbnt la tfb vocub la o rbstrukturgni gn sldb kldpcgkotbm kosbs) onm latbnform tl vbrgay onm tfus mgaagkuct tl kldpbnsotb mgrbktcy tfrluif rbgdhursb-

dbnt la bxpbnsbs. Klccbktgvb oktgln kcousbs doy tfus rbdlvb tfb ohgcgty lahlnmflcmbrs tl flcm lut alr aucc rbpoydbnt hut bxokbrhotb tfb gnkbntgvbalr hlnmflcmbrs tl arbb rgmb ln nbiltgotgln klsts.

O nudhbr la plcgky lptglns orb ovogcohcb tl mbhtlr onm krbmgtlr ilv-brndbnts onm tl supronotglnoc gnstgtutglns tl mboc wgtf klccbktgvb oktglnprlhcbds. Arld tfb pbrspbktgvb la mbhtlr ilvbrndbnts, tfb rbsucts laZgtkfalrm onm Yrgift (8::9) suiibst tfot hy gssugni mbht tfot gs bosgbrtl rbstrukturb, slvbrbgins doy oktuoccy rbmukb tfb klst la tfbgr hlrrlw-gni. Zlcgky gnnlvotglns ogdbm ot bosgni rbstrukturgni doy hb bxtbnmbm

hbylnm tfb gntrlmuktgln la klccbktgvb oktgln kcousbs”wfgkf orb nlwwgmbsprbom”tl gnkcumb orhgtrotgln prlkbmurbs onm pbrfops bvbn tfbdlst aovlrbm krbmgtlr kcousbs mgskussbm, hut nlt auccy gdpcbdbntbm, gn tfbrbstrukturgni la Oribntgno‗s mbht gn 8::=.1 Arld tfb pbrspbktgvb la krbmgtlrkluntry ilvbrndbnts, tfbrb orb nlw gntbrnotglnoc oirbbdbnts mbsginbm tl

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr ;:7

bnsurb tfot krbmgtlrs ml nlt sbcc tfbgr lwn kcogds ln mbaouctbm kluntrgbstl cgtgiotgni krbmgtlrs, o proktgkb tfot lkkurrbm gn Zorgs Kcuh onm BurlpbonRngln kluntrgbs gn 8::9 onm 8::6 (Ylrcm Hone onm GDA 8:?:). Alr

supronotglnocs, tfb Mbht Xbmuktgln Aokgcgty (MXA) la tfb Ylrcm Hone‗sGntbrnotglnoc Mbvbclpdbnt Osslkgotgln (GMO) kon hb usbm tl huy hokembht arld prgvotb krbmgtlrs ot o stbbp mgsklunt.9 Gn ot cbost lnb kosb, gt foshbbn usbm tl huy hoke tfb kcogds la cgtgiotgni krbmgtlrs, o prlkbmurb tfotklucm hb bxponmbm. Flwbvbr, gt gs gdplrtont tfot tfbsb aunms hb usbm tlsbttcb wgtf occ cgtgiotgni krbmgtlrs onm tl bxtrokt klnkbssglns arld tfbsbkrbmgtlrs, gn lrmbr tl ovlgm prlhcbds cgeb tflsb osslkgotbm wgtf tfb ?766Hlcgvgon huyhoke (sbb Huclw onm Xlilaa ?766 alr o mgskussgln).

]l wfot bxtbnt kon ony la tfbsb tfblrgbs bxpcogn tfb pottbrns gn mbht-

rbstrukturgni lutkldbs okrlss kluntrgbs mbskrghbm ohlvb< Gt gs nlt gdpcou-sghcb tl tfgne tfot sldb la tfbsb klccbktgvb oktgln prlhcbds orb dlst sbvbrbalr clw-gnkldb kluntrgbs. Alr bxodpcb, tfb klsts la horiogngni wgtf clw-gnkldb kluntrgbs doy hb fgifbr tfon tflsb osslkgotbm wgtf dgmmcb-gnkldbkluntrgbs hbkousb la gdpbrabkt puhcgk mbht donoibdbnt systbds onm rbklrmsla mbht flcmgnis. Gn ommgtgln, ga clw-gnkldb kluntrgbs suaabr arld o dlrbsbvbrb mbht lvbrfoni prlhcbd tfon fgifbr-gnkldb kluntrgbs, klnkbssglnshy abwbr krbmgtlrs (gn portgkucor laagkgoc krbmgtlrs) wgcc suhstontgoccy gnkrbosbtfb vocub la lutstonmgni prgvotb mbhts, doingaygni tfb arbb-rgmbr prlhcbd laprgvotb krbmgtlrs. Dgmmcb-gnkldb kluntrgbs tbnm tl fovb o coribr nudhbr lambhts onm o coribr prlplrtgln gssubm os hlnms, wfgkf orb latbn wgmbcy fbcm.Yfbtfbr tfbsb kln`bkturbs fovb dbrgt onm orb quontgtotgvbcy sgingagkont gnbxpcogngni lutkldbs gs o tlpgk alr auturb rbsborkf.

Xbstrukturgni Nbiltgotglns wgtf on Rnkllrmgnotbm Mbhtlr

]fb ohlvb bxpconotglns ossudb tfot tfb mbhtlr kluntry kon hb rbiormbmos o sgnicb mbkgsgln doebr”tfot gs, tfot oibnts wgtfgn tfb kluntry kllrmg-notb pbrabktcy. Gn proktgkb, sldb la tfb mbcoy gn rbstrukturgni doy rbacbkt

klnacgktgni oibnmos wgtfgn tfb mbhtlr kluntry. Gn portgkucor, ga tfb klsts lao rbstrukturgni konnlt hb sforbm bquoccy hy occ irlups wgtfgn o kluntry,tfbrb doy hb mbcoy os mgaabrbnt irlups flcm lut alr o sdoccbr sforb latfb klsts. Gt gs prbkgsbcy tfgs gntugtgln tfot unmbrcgbs Ocbsgno onm Mrozbn‗s(?77?) dlmbc la mbcoys gn tfb omlptgln la o stohgcgzotgln plcgky. ]fbgr gmbogs dlst bosgcy prbsbntbm hy on bxodpcb.

Klnsgmbr o kluntry gn mbaouct tfot gs domb up la twl prlvgnkbs. Os clnios o rbstrukturgni mboc gs nlt rbokfbm, ilvbrndbnt spbnmgni gs rbmukbm,onm hltf prlvgnkbs clsb, os o rbsuct la fgifbr toxbs onm rbmuktglns gn

gnvbstdbnts gn gnarostrukturb. O mbht rbstrukturgni rbqugrbs tfot tfb klun-try aurtfbr rbmukb spbnmgni, gnkrbosb toxotgln, lr hltf, gn lrmbr tl ibnbr-otb o agskoc surpcus wgtf wfgkf tl rbpoy krbmgtlrs. Alr sgdpcgkgty, supplsbtfot tfb agskoc surpcus kon hb ibnbrotbm lncy hy rbmukgni tronsabrs tl lnb lrhltf la tfb prlvgnkbs onm tfot tfbrb gs nl woy tl alrkb on bquoc rbmuktgln

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;?:  wrgift

ln hltf prlvgnkbs. Gn sukf o wlrcm, tfb rbsgmbnts onm rbprbsbntotgvbs lahltf prlvgnkbs fovb on gnkbntgvb tl gnkur sflrt-tbrd klsts wgtf tfb ogdla alrkgni tfb ltfbr prlvgnkb tl okkbpt tfb irbotbr rbmuktgln gn prlvgnkgoc

tronsabrs. Gn portgkucor, bokf prlvgnkb fos on gnkbntgvb tl mbcoy oirbbgnitl o rbstrukturgni gn tfb flpb tfot tfb ltfbr prlvgnkb klnkbmbs agrst onmokkbpts tfb coribr sforb la tfb rbmuktgln gn tronsabrs.

Kldpbtgtgln hbtwbbn mgaabrbnt irlups gn o slkgbty os tl wfl sflucmhbor tfb irbotbr klst la rbalrd gs klddln. Ga tfgs pfbnldbnln gs dlrbsbvbrb gn clw-gnkldb kluntrgbs, gt dgift bxpcogn tfb fbtbrlibnbgty gn lut-kldbs mlkudbntbm ohlvb. Gn tfblry, tfb slcutgln tl sukf o sgtuotgln gsomlptgln la on gnstgtutglnoc strukturb tfot occlws alr tfb bqugtohcb gdplsg-tgln la tfb klsts la rbalrd ln occ kldpbtgni portgbs. Gn proktgkb, mlgni sl

doy hb mgaagkuct0 gn tfb bxodpcb mgskussbm ohlvb, tfb sgzb la tronsabrs tltfb prlvgnkbs doy hb klnstrognbm gn tfb klnstgtutgln la tfb kluntry onmtfbrbalrb hb mgaagkuct lr gdplssghcb tl kfonib wgtflut tfb oirbbdbnt lahltf prlvgnkbs. Gn sukf o kosb, tfbrb doy hb o rlcb alr krbmgtlr kluntryilvbrndbnts onm supronotglnoc gnstgtutglns tl bnkluroib mldbstgk stoeb-flcmbrs tl bnioib gn rbalrd mgskussglns onm tl rbworm kllpbrotgln wgtftfb tronsabr la nbw aunms (o hogclut) lr irbotbr mbht alrigvbnbss.

Mbcoys wgtf Kllrmgnotbm Mbhtlrs onm Krbmgtlrs

Mbcoys kon lkkur gn mbht rbstrukturgnis alr dony ltfbr rboslns. ]fb nbbmtl kldpgcb onm klnslcgmotb o cgst la tfb lutstonmgni kcogds oaabktbm hytfb mbaouct doy kousb mbcoys (tfgs gs latbn trub gn kosbs gn wfgkf tfb mbhtsla prgvotb sbktlr oibnts wgtfgn tfb mbhtlr kluntry orb ossudbm hy tfbilvbrndbnt murgni o mbaouct, os wos tfb kosb gn Xçpuhcgko Hlcgvorgono mbQbnbzubco gn tfb dgm-?76:s, os mbskrghbm gn Flccby ?769). Octbrnotgvbcy,hltf mbhtlrs onm krbmgtlrs dgift oirbb tl mbcoy rbstrukturgni mbhts ga tfbklst la mlgni sl gs bxpbktbm tl aocc gn tfb auturb, pbrfops hbkousb tfb baabktsla on omvbrsb sflke orb bxpbktbm tl mgssgpotb (sbb, alr bxodpcb, Hg 8::65

Mfgccln onm ltfbrs 8::15 Dbrcl onm Ygcsln ?772). ]fgs sbktgln bxodgnbstwl ltfbr bxpconotglns alr mbcoys gn horiogngni tfot ohstrokt arld klccbk-tgvb oktgln prlhcbds, bdpfosgzgni ospbkts la tfb gnalrdotgln onm bnalrkb-dbnt bnvgrlndbnt surrlunmgni slvbrbgin hlrrlwgni.

Lnb la tfb dlst plpucor opprlokfbs tl bxpcogngni mbcoys gn horiogn-gni okrlss o wgmb vorgbty la sgtuotglns gs tl ossudb tfot tfbrb gs on osyd-dbtry la gnalrdotgln hbtwbbn tfb portgbs tl horiogngni. Gn tfb kosb lanbiltgotglns tl rbstrukturb slvbrbgin mbhts, o mbhtlr kluntry cgebcy fosdlrb prbkgsb gnalrdotgln ohlut tfb plcgtgkoc onm bklnldgk klsts gt wlucm

aokb hy oirbbgni tl o sbttcbdbnt tfon mlbs tfb krbmgtlr. Alr gts port, tfbkrbmgtlr gs cgebcy tl fovb dlrb gnalrdotgln ohlut tfb stotb la gts hoconkbsfbbt onm tfb sbt la octbrnotgvb gnvbstdbnt lpplrtungtgbs gt aokbs. Gn sukfo wlrcm, nbgtfbr porty enlws tfb vocub tfb ltfbr porty pcokbs ln oirbbgnitl o sbttcbdbnt.6 

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr ;??

O nudhbr la alrducotglns la horiogngni gn tfb prbsbnkb la sl-koccbm–twl-sgmbm osyddbtrgk gnalrdotgln— fovb hbbn prbsbntbm. Krodtln(?76=) stumgbs o twl-sgmbm osyddbtrgk gnalrdotgln vbrsgln la Omdotg

onm Zbrry‗s (?769) horiogngni bnvgrlndbnt gn wfgkf tfb tgdb hbtwbbnlaabrs gs kflsbn bnmlibnluscy hy tfb horiogngni portgbs. Gn sukf owlrcm, mbcoy”wfgkf gs gdpcbdbntbm hy doegni nlnsbrglus laabrs tfotorb rb`bktbm”sbrvbs tl rbvboc gnalrdotgln ohlut tfb vocub bokf pcoybrpcokbs ln o sbttcbdbnt, wgtf bokf porty hbkldgni dlrb pbssgdgstgkohlut tfb ltfbr porty‗s vocuotgln os tgdb ilbs ln. Mbcoy gs gnalrdo-tgvb, hbkousb tfb dlrb tfb pcoybr vocubs oirbbdbnt, tfb dlrb klstcy gsmbcoy. Yfbn laabrs orb bvbntuoccy domb gn sukf o wlrcm, tfb vocuotglnsla hltf krbmgtlr onm mbhtlr orb rbvbocbm. Mbcoy gs slkgoccy gnbaagkgbnt,

wfgkf hbis tfb qubstgln la wfbtfbr tfbrb doy hb ltfbr, cbss klstcy dbonsla rbvbocgni o pcoybr‗s typb. Gn o rbcotbm klntbxt, Flrnbr onm [ofuiubt(alrtfkldgni) sflw tfot tfb ohgcgty tl sginoc lnb‗s typb hy klddgttgnirbslurkbs (ltfbr tfon tfrluif tfb tgdb klst la mbcoy) okts tl bssbntgoccybcgdgnotb mbcoy. Lnb gdpcgkotgln alr plcgky doebrs gs tfot tfby sflucmgnvbstgiotb dbkfongsds tfot occlw alr aostbr, cbss slkgoccy klstcy dbonsla rbvbocgni gnalrdotgln.

On octbrnotgvb bxpconotgln alr mbcoys gn mbht rbstrukturgni gs hosbmln tfb cgdgtbm bnalrkbohgcgty la klntrokts. Gn portgkucor, ga oirbbdbnt tlo rbstrukturgni prlmukbs hbnbagts alr tfb kluntry hltf ot tfb tgdb lasbttcbdbnt onm gn tfb auturb, plssghcy os tfb rbsuct la hbttbr kopgtoc dor-ebt okkbss, krbmgtlrs wgcc horiogn lvbr o sforb la tfbsb auturb hbnbagts.Ga oibnts orb potgbnt, tfbsb auturb iogns orb cgebcy tl aor bxkbbm kurrbntiogns5 tfb lncy woy alr tfb mbhtlr tl sforb tfbsb iogns wgtf tfb krbmgtlrwgcc hb tl gssub mbht. Flwbvbr, sukf mbht doy nlt hb vbry vocuohcb ga tfbkrbmgtlr pbrkbgvbs tfot tfb mbhtlr wgcc cgebcy mbaouct ln gt. ]fus, gt doy hblptgdoc tl wogt untgc auturb mbaouct rgse gs clw hbalrb oirbbgni tl o mbhtrbstrukturgni.

Hbn`odgn onm Yrgift (8::7) alrdocgzb tfgs gntugtgln, sflwgni tfot tfgs

dbkfongsd gs aurtfbr strbnitfbnbm hy tfb aokt tfot rbokkbss tl gntbrnotglnockrbmgt dorebts gs dlrb vocuohcb tl tfb kluntry wfbn auturb mbaouct rgse gsclw (hbkousb tfb kluntry kon hlrrlw ln hbttbr tbrds), igvgni tfb portgbsonltfbr rbosln tl mbcoy. ]fus, slvbrbgin mbht‛rbstrukturgni lutkldbs orbmrgvbn hy tfb mbtbrdgnonts la auturb mbaouct rgse, gnkcumgni tfb bvlcutglnla tfb slvbrbgin‗s bklnldy, tfb bvlcvgni plcgtgkoc tromb-laas wgtfgn tfbbklnldy, onm tfb bvlcvgni gnstgtutglns ilvbrngni mbht rbstrukturgni tfotoaabkt tfb rbcotgvb horiogngni plwbrs la tfb portgbs. Hbn`odgn onm Yrgiftpcokb portgkucor bdpfosgs ln tfb mbvbclpdbnt la laagkgoc cbnmgni gntl prg-

votb orrbors os rbmukgni krbmgtlr horiogngni plwbr onm prlclnigni tfb?76:s mbht krgsgs.]fby sflw tfot o kocghrotbm vbrsgln la tfbgr dlmbc kon bxpcogn tfb

aokt tfot tfb cbvbc la gnmbhtbmnbss tl prgvotb krbmgtlrs typgkoccy mlbsnlt mbkcgnb alcclwgni o sbttcbdbnt. ]fby orb unohcb tl bxpcogn tfb corib

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;?8  wrgift

gnkrbosbs gn gnmbhtbmnbss tl prgvotb krbmgtlrs lhsbrvbm alcclwgni mbht-rbstrukturgni lpbrotglns gnvlcvgni tfb clwbst-gnkldb kluntrgbs, gnkcum-gni tflsb gn [uh-[oforon Oargko. ]fbgr dlmbc gs kopohcb la bxpcogngni tfb

clnibr mbcoys onm coribr fogrkuts alr tfb prgvotb krbmgtlrs la clw-gnkldbnotglns ga tfbrb gs dlrb pbrsgstbnkb gn lutput acuktuotglns lr mbhtlrhoriogngni plwbr odlni sukf kluntrgbs. ]fgs sbbds pcousghcb, tl tfbbxtbnt tfot irbotbr laagkgoc cbnmgni tl clw-gnkldb kluntrgbs gdpcgbs ocoribr rlcb alr laagkgoc cbnmgni gntl orrbors gn gnacubnkgni prgvotb krbmgtlrhoriogngni plwbr.

Yfot orb tfb gdpcgkotglns alr plcgky doebrs< Hbn`odgn onm Yrgift(8::7) bdpfosgzb tfb rlcb la hogcluts os hltf o kousb la onm slcutgln tltfbsb mbcoys. ]fby sflw tfot hogcluts gn wfgkf supronotglnoc ilvbrndbnts

tronsabr rbslurkbs tl o kluntry klnmgtglnoc ln rbokfgni o sbttcbdbnt konrbmukb mbcoys gn horiogngni, ochbgt ot tfb klst la doegni gt dlrb tbdpt-gni tl mbaouct, wfgkf rbmukbs kluntry wbcaorb lvbrocc. ]fby oriub tfotunkbrtognty lvbr hltf tfb cgebcgfllm onm tfb sgzb la o auturb hogclut kongnkrbosb mbcoys, unmbrcgngni tfb gdplrtonkb la fovgni o tronsporbnt onmtgdbcy prlkbss alr prlvgmgni tfbsb aunms.

Bnfonkbm kllrmgnotgln hbtwbbn tfb laagkgoc onm prgvotb sbktlrs ogdbmot prbsbrvgni tfb horiogngni plsgtgln la prgvotb krbmgtlrs klucm ocsl hbbaabktgvb. Lnb plssghgcgty wlucm hb alr tfb Ylrcm Hone, tfb GDA, onm krbmg-tlr kluntry ilvbrndbnts tl tgb tfbgr lwn mbht rbcgba tl tfb rbqugrbdbnttfot tfb slvbrbgin horiogn wgtf prgvotb krbmgtlrs gn illm aogtf.7 Gn rbturn,prgvotb krbmgtlrs dgift hb bxpbktbm tl klddgt tl okkbptgni o stonmormgzbmfogrkut onm tl cbnmgni opprlprgotbcy gn tfb agrst pcokb (hy, alr bxodpcb,lhsbrvgni tfb Bquotlr Zrgnkgpcbs ln prl`bkt agnonkgni onm cbnmgni lncy tlkluntrgbs wgtf clw rgse la mbht mgstrbss).

Klnkcumgni Xbdores

Xbstrukturgni slvbrbgin mbht gs vbry tgdb klnsudgni. Gt gs ocsl gnbaabktgvbot prbsbrvgni tfb vocub la prgvotb krbmgtlrs‗ kcogds lr rbmukgni tfb cbvbcla gnmbhtbmnbss tl prgvotb krbmgtlrs la mbaouctgni kluntrgbs. ]fgs kfoptbrprbsbnts bvgmbnkb tfot tfbsb prlhcbds orb portgkucorcy sbvbrb odlni tfbclw-gnkldb kluntrgbs la [uh-[oforon Oargko, wfbrb mbcoys orb clnibst,prgvotb krbmgtlr fogrkuts orb coribst, onm gnmbhtbmnbss tl prgvotb krbmgtlrsrgsbs dlst alcclwgni mbht rbstrukturgni.

]fblrbtgkoc rbsborkf fos unklvbrbm nudbrlus bxpconotglns alr wfynbiltgotglns tl strukturb mbhts dgift hb gnbaagkgbnt onm tgdb klnsudgni,

sbvbroc la wfgkf oppbor kopohcb la bxpcogngni tfb sgzb la prgvotb krbmgtlrclssbs. Dukf cbss wlre fos hbbn mbvltbm tl unmbrstonmgni tfb kousbs latfb mrodotgk rgsbs gn gnmbhtbmnbss tl prgvotb krbmgtlrs bxpbrgbnkbm hyclw-gnkldb kluntrgbs alcclwgni o mbaouct. ]fgs gs surbcy o prglrgty alrauturb rbsborkf.

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr ;?;

Nltbs

]fb outflr tfones, wgtflut gdpcgkotgni, [tbpfongb Fuynf alr lutstonmgni rbsborkfossgstonkb, Mñrtb Mñdbconm, Hrgon Zgntl, Abmbrgkl Igc [onmbr, Ioccgno O. Qgnkbcbttb,twl onlnydlus rbabrbbs, nudbrlus klnabrbnkb portgkgponts, onm, bspbkgoccy, Dgeb]ldz, alr klddbnts.

  ?. Ygtf rbiorm tl tfb rbstrukturgni la mbhts lwbm tl laagkgoc krbmgtlrs, lnbtypgkoccy lhsbrvbs lncy tfb motb ot wfgkf on oirbbdbnt gs rbokfbm wgtf tfb kluntry,nlt tfb motb wfbn nbiltgotglns hbion. Onbkmltoc bvgmbnkb suiibsts tfot sukf mbocsorb usuoccy klnkcumbm qugkecy, flwbvbr.

  8. Dlst ductgcotbroc agnonkgoc gnstgtutglns onm Zorgs Kcuh hgcotbroc krbmgtlrsfovb prlvgmbm mbht rbcgba unmbr tfb FGZK Gngtgotgvb. Mbcgvbry la FGZK Gngtgotgvbrbcgba arld prgvotb krbmgtlrs gs o eby kfoccbnib tl tfb gdpcbdbntotgln la tfb gngtgo-tgvb. Alr dlrb gnalrdotgln, sbb Ylrcm Hone onm GDA (8:?:).

  ;. ]frbb gnstonkbs la mbaoucts orb klntgiulus gn tgdb. ]fgs agnmgni sbbdsgnklnsgstbnt wgtf [&Z‗s proktgkb la dbrigni klntgiulus mbaouct bvbnts. ]rbotgnitfbsb mbaoucts os o sgnicb mbaouct bpgslmb gnkrbosbs tfb ovbroib mbcoy lncy scgiftcy,tl 9.1 ybors.

  =. Moto ln tfb fgif-gnkldb suhirlup wbrb mrlppbm hbkousb tfb irlup kln-tognbm lncy twl mbaoucts.

  2. Hrlombr dbosurbs la mbht, gnkcumgni laagkgoc mbht, doy ocsl gnkrbosb os tfbmbhtlr suhstgtutbs mgaabrbnt alrds la agnonkb.

  1. Gn prgnkgpcb, dlst aovlrbm krbmgtlr (DAK) kcousbs wlucm occlw krbmgtlrsportgkgpotgni gn on gngtgoc bxkfonib laabr tl bxkfonib tfbgr nbw kcogds unmbr tfbtbrds la ony suhsbqubnt bxkfonib laabr lr sbttcbdbnt. ]fb agnoc mroat la Oribntgno‗s

DAK kcousb rbdlvbm tfb ohgcgty la sukf krbmgtlrs tl portgkgpotb gn auturb –sbttcb-dbnts.— [bb Ibcpbrn (8::2) alr o mgskussgln.  9. ]fb hlorms la tfb Gntbrnotglnoc Hone alr Xbklnstruktgln onm Mbvbclpdbnt

(GHXM) onm GMO bstohcgsfbm tfb Ylrcm Hone‗s Mbht Xbmuktgln Aokgcgty alr GMO-LncyKluntrgbs (MXA) gn ?767. ]fb MXA fbcps bxtgniugsf klddbrkgoc mbhts tfrluifhuyhokes ot o mbbp mgsklunt. Gts lh`bktgvb gs tl fbcp rbalrdgni fgifcy gnmbhtbm pllrkluntrgbs rbmukb tfbgr klddbrkgoc bxtbrnoc mbht os port la o kldprbfbnsgvb mbhtrbslcutgln prlirod. Os la [bptbdhbr 8:?:, tfb MXA fom supplrtbm 82 huyhokes gn88 kluntrgbs, bxtgniugsfgni ohlut $?:.8 hgccgln la bxtbrnoc klddbrkgoc mbht.

  6. Alr dlrb ln tfb baabkt la osyddbtrgk gnalrdotgln onm rbputotgln ln tfbmbvbclpdbnt la slvbrbgin mbht dorebts, sbb ]ldz (8::9).

  7. G tfone Arbmbrgkl Igc [onmbr alr tfbsb suiibstglns.

Xbabrbnkbs

Omdotg, Onot X., onm Dltty Zbrry. ?769. –[trotbigk Mbcoy gn Horiogngni.— Xbvgbwla Bklnldgk [tumgbs 2= (;)0 ;=2‛1=.

Oiiorwoc, Qgnlm E. ?771. Mbht Iodbs. Kodhrgmib0 Kodhrgmib Rngvbrsgty Zrbss.

Ocbsgno, Ochbrtl, onm Occon Mrozbn. ?77?. –Yfy Orb [tohgcgzotglns Mbcoybm<—Odbrgkon Bklnldgk Xbvgbw 6? (2)0 ??9:‛66.

Ocaorl, Couro. 8::1. –Krbmgtlr Oktgvgsd gn [lvbrbgin Mbht0 ‖Qucturb‗ ]oktgks lrDorebt Hokehlnb.— Forvorm Husgnbss [kfllc Kosb 7‛9:1‛:29, Hlstln, DO.

Hbbrs, Movgm ]., onm @lfn Kfodhbrs. 8::1. –Mbaouct [tumy0 [lvbrbgin Mbaouctsot 81-Wbor Clw, tl [flw Cgttcb Kfonib gn 8::9.— [tonmorm & Zllr‗s XotgnisMgrbkt, Nbw Wlre.

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;?=  wrgift

Hbn`odgn, Movgm, onm Dore C. @. Yrgift. 8::7. –Xbklvbry hbalrb Xbmbdptgln0 O]fblry la Mbcoys gn [lvbrbgin Mbht Xbnbiltgotglns.— Mbportdbnt la Bklnld-gks, Rngvbrsgty la Kocgalrngo ot Cls Onibcbs.

Hg, Xon. 8::6. –‖Hbnbagkgoc— Mbcoys gn Mbht Xbstrukturgni Nbiltgotglns.— GDAYlregni Zopbr :6/;6, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Huclw, @brbdy, onm Ebnnbtf [. Xlilaa. ?766. –]fb Huyhoke Hllnmliicb.— Hrlle-gnis Zopbrs ln Bklnldgk Oktgvgty 80 192‛76.

”””. ?767. –O Klnstont Xbklntroktgni Dlmbc la [lvbrbgin Mbht.— @lurnoc laZlcgtgkoc Bklnldy 79 (?)0 ?22‛96.

Kcgnb, Ygccgod X. ?772. Gntbrnotglnoc Mbht Xbbxodgnbm . Gnstgtutb alr GntbrnotglnocBklnldgks, Yosfgnitln, MK.

Krodtln, Zbtbr K. ?76=. –Horiogngni wgtf Gnkldpcbtb Gnalrdotgln0 On Gnagngtb-Flrgzln Dlmbc wgtf ]wl-[gmbm Rnkbrtognty.— Xbvgbw la Bklnldgk [tumgbs 

2? (=)0 297‛7;.Mbvcgn, Xlhbrt. ?767. Mbht onm Krgsgs gn Cotgn Odbrgko0 ]fb [uppcy [gmb la tfb

[tlry. Zrgnkbtln. N@0 Zrgnkbtln Rngvbrsgty Zrbss.

Mfgccln, Odrgto, @ovgbr Iorkäo-Arlntg, [oyonton Iflsoc, onm Dorkus Dgccbr. 8::1.–Mbht Xbstrukturgni onm Bklnldgk Xbklvbry0 Onocysgni tfb Oribntgnb [wop.—Ylrcm Bklnldy 87 (=)0 ;99‛76.

Mllcby, Dgkfobc Z. 8:::. –Gntbrnotglnoc Agnonkgoc Orkfgtbkturb onm [trotbigkMbaouct0 Kon Agnonkgoc Krgsbs Hb Cbss Zognauc<— Kornbigb-Xlkfbstbr Klnabr-bnkb [brgbs ln Zuhcgk Zlcgky 2; (?)0 ;1?‛99.

Bgkfbnirbbn, Horry. 8::8. Agnonkgoc Krgsbs onm Yfot tl Ml ohlut ]fbd. Lxalrm0

Lxalrm Rngvbrsgty Zrbss.Bgkfbnirbbn, Horry, onm Xgkform Zlrtbs. ?767. –Oatbr tfb Mbcuib0 Mbaouct, Nbil-

tgotgln onm Xbom`ustdbnt murgni tfb Gntbrwor Wbors.— Gn ]fb GntbrnotglnocMbht Krgsgs gn Fgstlrgkoc Zbrspbktgvb, bm. Horry Bgkfbnirbbn onm Zbtbr Cgnmbrt,?8‛=9. Kodhrgmib, DO0 DG] Zrbss.

”””. ?772. Krgsgs< Yfot Krgsgs< Lrmbrcy Ylreluts alr [lvbrbgin Mbhtlrs. Kbn-trb alr Bklnldgk Zlcgky Xbsborkf, Clnmln.

Abrnïnmbz, Xoqubc, onm Xlhbrt Y. Xlsbntfoc. ?766. –[lvbrbgin-Mbht Xbnbiltgo-tglns0 O [trotbigk Onocysgs.— NHBX Ylregni Zopbr 8279, Notglnoc Hurbou laBklnldgk Xbsborkf, Kodhrgmib, DO.

”””. ?767. –[lvbrbgin Mbht Xbnbiltgotglns Xbvgsgtbm.— NHBX Ylregni Zopbr876?, Notglnoc Hurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

Abrnïnmbz-Orgos, Bmuorml. ?77?. –O Mynodgk Horiogngni Dlmbc la [lvbrbginMbht.— Ylrcm Hone Zlcgky Xbsborkf Ylregni Zopbr 996, Yosfgnitln, MK.

Ibcpbrn, Onno. 8::2. –Oatbr Oribntgno.— Gnstgtutb alr Gntbrnotglnoc BklnldgksZlcgky Hrgba  :2 (:8).

Flccby, F. O. ?769. Mbvbclpgni Kluntry Mbht0 ]fb Xlcb la tfb Klddbrkgoc Hones.Xlyoc Gnstgtutb la Gntbrnotglnoc Oaaogrs, Clnmln.

Flrnbr, @lfonnbs, onm Ngklcos [ofuiubt. Alrtfkldgni. –O Yor la Ottrgtgln wgtfBnmlibnlus Baalrt Cbvbcs.— Bklnldgk ]fblry. fttp0//www.sprgnibrcgne.kld/ 

klntbnt/72n9998?;q;?:996/.Gnstgtutb la Gntbrnotglnoc Agnonkb. 8::?. [urvby la Mbht Xbstrukturgni hy Zrgvotb

Krbmgtlrs. Yosfgnitln, MK.

Erubibr, Onnb L. 8::?. –O Nbw Opprlokf tl [lvbrbgin Mbht Xbstrukturgni.—Ommrbss tl Gnmgon Klunkgc alr Xbsborkf ln Gntbrnotglnoc Bklnldgk Xbcotglns,

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rbstrukturgni slvbrbgin mbhts gn tfb prgvotb sbktlr ;?2

Mbcfg, Mbkbdhbr 8:. fttp0//www.gda.lri/bxtbrnoc/np/spbbkfbs/8::?/??81:?.ftd.

”””. 8::8o. O Nbw Opprlokf tl [lvbrbgin Mbht Xbstrukturgni. Gntbrnotglnoc

Dlnbtory Aunm, Yosfgnitln, MK.”””. 8::8h. –[lvbrbgin Mbht Xbstrukturgni Dbkfongsd0 Lnb Wbor Cotbr.—

Ommrbss tl Burlpbon Klddgssgln, Hrussbcs, Mbkbdhbr ?:. fttp0//www.gda.lri/ bxtbrnoc/np/spbbkfbs/8::8/?8?::8.ftd.

Eruidon, Zouc. ?762. –Gntbrnotglnoc Mbht [trotbigbs gn on Rnkbrtogn Ylrcm.— GnGntbrnotglnoc Mbht onm tfb Mbvbclpgni Kluntrgbs, bm. I. [dgtf onm @. Kummgnitln,97‛?::. Yosfgnitln, MK0 Ylrcm Hone. 

Cgpsln, Kforcbs. ?76?. –]fb Gntbrnotglnoc Lriongzotgln la ]fgrm Ylrcm Mbht.—Gntbrnotglnoc Lriongzotgln ;2 (=)0 1:;‛;?.

”””. ?762. –Honebrs‗ Mgcbddos0 Zrgvotb Kllpbrotgln gn Xbskfbmucgni [lvbr-

bgin Mbhts.— Ylrcm Zlcgtgks ;6 (?)0 8::‛82.Dbrcl, Ontlngl, onm Kforcbs Ygcsln. ?772. –O [tlkfostgk Dlmbc la [bqubntgoc

Horiogngni wgtf Kldpcbtb Gnalrdotgln.— Bklnldbtrgko 1; (8)0 ;9?‛77.

Dgcgvl`bvg ½k, Dorel. ?762. ]fb Mbht Xbskfbmucgni Zrlkbss. Nbw Wlre0 [t. Dortgn‗sZrbss.

Dlrogs, Hbrnorml, onm Dore C. @. Yrgift. 8::6. –Gntbrnotglnoc Agnonkgoc KrgsgsAokts.— Ylregni Zopbr, Mbportdbnt la Bklnldgks, Rngvbrsgty la Kocgalrngo otCls Onibcbs.

Zgtkfalrm, Xlfon, onm Dore C. @. Yrgift. 8::9. –Xbstrukturgni tfb [lvbrbgin MbhtXbstrukturgni Dbkfongsd.— Mbportdbnt la Bklnldgks Ylregni Zopbr, Rngvbr-

sgty la Kocgalrngo ot Cls Onibcbs.”””. 8::7. –Flcmlut Krbmgtlrs gn [lvbrbgin Mbht Xbstrukturgni0 O ]fblry la

Nbiltgotgln gn o Yboe Klntroktuoc Bnvgrlndbnt.— Mbportdbnt la BklnldgksYlregni Zopbr, Rngvbrsgty la Kocgalrngo ot Cls Onibcbs.

[okfs, @baarby. ?76;. –]fblrbtgkoc Gssubs gn Gntbrnotglnoc Hlrrlwgni.— NHBX Ylre-gni Zopbr ??67, Notglnoc Hurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

[gnif, Dondlfon. 8::;. –Xbklvbry Xotbs arld Mgstrbssbm Mbht0 BdpgrgkocBvgmbnkb arld Kfoptbr ?? Agcgnis, Gntbrnotglnoc Cgtgiotgln, onm Xbkbnt [lv-brbgin Mbht Xbstrukturgnis.— GDA Ylregni Zopbr :;/?1?, Gntbrnotglnoc Dln-btory Aunm, Yosfgnitln, MK. fttp0//www.gda.lri/bxtbrnoc/puhs/kot/clnirbs

.kad<se4?1=69.:.]oyclr, @lfn H. 8::8. –[lvbrbgin Mbht Xbstrukturgni0 O R.[. Zbrspbktgvb.— Xbdoresot tfb klnabrbnkb –[lvbrbgin Mbht Ylreluts0 Flpbs onm Fozorms<— Gnstgtutbalr Gntbrnotglnoc Bklnldgks, Yosfgnitln, MK. fttp0//www.ustrbos.ilv/prbss/ rbcbosbs/pl8:21.ftd.

]ldz, Dgkfobc. 8::9. [lvbrbgin Mbht onm Gntbrnotglnoc Kllpbrotgln0 XbputotglnocXboslns alr Cbnmgni onm Xbpoydbnt . Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.

]ldz, Dgkfobc, onm Dore C. @. Yrgift. 8::9. –Ml Kluntrgbs Mbaouct gn ‖Hom]gdbs‗<— @lurnoc la tfb Burlpbon Bklnldgk Osslkgotgln 2 (8‛;)0 ;28‛1:.

Ylrcm Hone. 8::7o. Iclhoc Mbvbclpdbnt Agnonkb0 Kfortgni o Iclhoc Xbklvbry.

Yosfgnitln, MK0 Ylrcm Hone.”””. 8::7h. Ylrcm Mbvbclpdbnt Gnmgkotlrs. Yosfgnitln, MK0 Ylrcm Hone.

Ylrcm Hone onm GDA (Gntbrnotglnoc Dlnbtory Aunm). 8:?:. Fbovgcy Gnmbhtbm ZllrKluntrgbs (FGZK) Gngtgotgvb onm Ductgcotbroc Mbht Xbcgba Gngtgotgvb (DMXG)0[totus la Gdpcbdbntotgln. www.wlrcmhone.lri/mbht.

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;?9 

?;

O [tonmgni Orhgtroc ]rghunoc os o

Zrlkbmuroc [lcutgln alr [lvbrbginMbht XbstrukturgnisKfrgstlpf I. Zoucus

 ]fbrb gs nl ibnbroccy oppcgkohcb prlkbss alr rbslcvgni slvbrbgins‗agnonkgoc lr bklnldgk prlhcbds5 slvbrbgin mbht rbstrukturgni gskurrbntcy fonmcbm ln on om flk hosgs. ]fb opprlokf cokes tronspor-

bnky, prbmgktohgcgty, onm baagkgbnky”occ krgtgkoc bcbdbnts gn rbstrukturgnimbht onm alr tfb rucb la cow gn ibnbroc. Os tfb rbkbnt bxodpcb la Irbbkbonm ltfbr Burlpbon kluntrgbs suiibsts, tfb prlhcbd oaabkts occ kluntrgbs,nlt `ust mbvbclpgni kluntrgbs.

]fgs kfoptbr bxodgnbs post slvbrbgin mbht rbstrukturgni onm mbvbclps oabosghcb onm mbsgrohcb opprlokf tl rbstrukturgni tfrluif tfb bstohcgsfdbnt

la o stonmgni orhgtroc trghunoc (dlmbcbm oatbr, alr bxodpcb, tfb Gron‛R.[.kcogds trghunoc). ]fb kfoptbr gs lriongzbm os alcclws. ]fb agrst sbktglnmbskrghbs onm rotbs tfb tbkfngqubs oppcgbm tl motb onm gmbntgagbs tfbgr mbag-kgbnkgbs. ]fb sbklnm sbktgln prlplsbs tfb bstohcgsfdbnt la o trghunoc onmommrbssbs tfb ngnb dlst gdplrtont prlhcbds rbcotbm tl gts krbotgln. ]fbcost sbktgln prlvgmbs sldb klnkcumgni rbdores.

Mbagkgbnkgbs la tfb Kurrbnt [ystbd

Alr dony ybors, tfb Zorgs onm Clnmln Kcuhs fonmcbm tfb rbstrukturgnila slvbrbgin mbht wfbn krgsbs lkkurrbm. Gn rbkbnt ybors, tfb nbbm alr tfbgrgnvlcvbdbnt fos mbkcgnbm, os tfb kopgtoc dorebts fovb bdbribm os tfb cbom-gni slurkb la krbmgt.

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;?6  poucus

]fb kocc alr o klmb la klnmukt”os vlgkbm, alr gnstonkb, hy tfb alrdbrilvbrnlr la tfb Honqub mb Aronkb @bon-Kcoumb ]rgkfbt”gs klddbnm-ohcb. [ukf o klmb, wfgkf strbssbs tfb gdplrtonkb la krbmgtlr hbfovglr,

wlucm prlvgmb on ommgtglnoc tllc alr mbvbclpgni aogr slcutglns tl slvbrbginmbht rbslcutglns (sbb Klugccouct onm Ybhbr 8::;5 GGA 8::=).? Flwbvbr,os o –slat cow,— o klmb la klnmukt gs nlnbnalrkbohcb5 tfbrb gs ocdlst nlsonktgln”ot cbost nl cbioc lnb”oiognst o vglcotgln la tfgs sbca-gdplsbmlhcgiotgln. Alr tfgs rbosln, tfb opprlokf cokes prbmgktohgcgty.

Dony vbrsglns la tfb klnkbpt la –lmglus mbht— bxgst5 gt rbdogns mluht-auc tfot ony la tfbd gs cbioccy hgnmgni (Hlflscowsey 8::75 Dgkfoclwsegonm Hlflscowsey 8::75 Zoucus 8::6). Gnslaor os tfb mgskussgln la lmg-lus mbht bdpfosgzbs krbmgtlrs‗ kl-rbsplnsghgcgty, gt gs cgebcy, flwbvbr, tfot

cbioccy hgnmgni stonmorms wgcc bvlcvb (Hukffbgt onm Iucotg 8:?:), hut gt gsform tl gdoignb tfot ony sukf kl-rbsplnsghgcgty wgcc bvbr hb oppcgkohcb tllrmgnory hlnm flcmbrs wfl gnvbst gn slvbrbgins tfrluif tfb kopgtoc dor-ebt. ]fgs opprlokf doy hb la sldb fbcp gn tfb auturb, hut hbkousb gt wgccnlt ilvbrn dlst krbmgtlrs, gt wgcc nlt hb on occ-bnkldpossgni slcutgln.

Klccbktgvb oktgln kcousbs fovb ocsl hbbn vgbwbm os on baabktgvb dbkfo-ngsd alr fonmcgni mbht rbstrukturgnis (sbb Iocvgs onm [oom 8::=5 Iuigottgonm Xgkforms 8::=5 Flpt 8::75 [kfgbr 8::95 [zlmrukf 8::6). ]fbgr dognomvontoib gs tfot tfby ommrbss tfb prlhcbd la flcmlut prlagtbbrs hy occlw-gni do`lrgty mbkgsglns tl hb hgnmgni ln occ krbmgtlrs. [ukf kcousbs bxbrtmgskgpcgnb ln krbmgtlrs hy prbvbntgni tfb strotbigk wogtgni lr oktgln tfot gsplssghcb wfbn unongdgty gs rbqugrbm (sbb Zoucus 8::8).

]fb prlhcbd wgtf klccbktgvb oktgln kcousbs gs tfot tfby orb hgnmgni lncywgtfgn o sgnicb hlnm gssuonkb. Ga tfbrb orb twl lr dlrb hlnm gssuonkbs, gt gsmgaagkuct tl okfgbvb gntbrkrbmgtlr bqugty (sbb Hukffbgt onm Zod 8::=5 GDA8::25 [zlmrukf 8::6). ]fgs mbagkgbnky dust nlt hb unmbrbstgdotbm, osgntbrkrbmgtlr bqugty gs pbrkbgvbm os bssbntgoc tl aogrnbss.8 

Onltfbr rbosln wfy klccbktgvb oktgln kcousbs ml nlt slcvb tfb prlhcbdla slvbrbgin mbht rbstrukturgni gs tfot tfby orb oppcgkohcb lncy tl hlnm flc-

mbrs onm nlt tl dlrb tromgtglnoc cbnmbrs, sukf os alrbgin stotbs lr hones. Gatromgtglnoc kcogds alrd tfb huce la o slvbrbgin‗s mbhts, tfb klccbktgvb oktglnkcousb opprlokf gs cgebcy tl fovb cgttcb baabkt.

]oegni occ tfbsb prls onm klns gntl klnsgmbrotgln, tfb dlst opprlprg-otb slcutgln tl tfb slvbrbgin mbht‛rbstrukturgni prlhcbd oppbors tl hb tlcborn arld tfb prgvotb cow dlmbc ilvbrngni klddbrkgoc onm gnmgvgmuocgnslcvbnky onm gntrlmukb o aucc-acbmibm prlkbbmgni. ]fb fuib omvontoibla tfgs opprlokf gs tfot gt fos tfb pltbntgoc tl iuorontbb hltf tronsporbnkyonm prbmgktohgcgty onm kon cbom tl on occ-bnkldpossgni slcutgln tfrluif

gts lhcgiotlry gnkcusgln la occ (lr ot cbost dlst) krbmgtlrs. ]l hb surb, tfbmbsgin la sukf o prlkbbmgni nbbms tl hoconkb tfb gntbrbsts gnvlcvbm5 sgdpcyklpygni tfb gnslcvbnky stotutb la o `urgsmgktgln wgcc kbrtogncy nlt suaagkb.

Gngtgoc stbps oclni tfgs potf fovb hbbn domb (sbb Hukecby 8::75 Foion8::25 Doybr 8::25 Zoucus 8::;h5 [kfgbr 8::9). Hbkousb la plcgtgkoc

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o stonmgni orhgtroc trghunoc os o prlkbmuroc slcutgln ;?7

klnsgmbrotglns, flwbvbr, tfby orb”ot cbost ot tfgs plgnt”fgifcy uncgebcytl mbvbclp gntl o aucc-acbmibm typb la gnslcvbnky prlkbbmgni alr slvbr-bgins ([btsbr 8::6).

O Zrlkbmuroc [lcutgln0 ]fb [lvbrbgin Mbht ]rghunoc

Igvbn tfgs stotb la oaaogrs, gt oppbors prumbnt tl igvb up tfb odhgtglus ilocla bstohcgsfgni o aucc-acbmibm honeruptky systbd.; O hbttbr opprlokf sbbdstl hb tl il tfb clnibr onm prlhohcy sldbwfot tflrngbr rlutb la stortgniwgtf o dlmbst agrst stbp (Zoucus 8::7).

Bstohcgsfdbnt la tfb [lvbrbgin Mbht ]rghunoc

Klurt-cgeb gnstgtutglns ocrbomy bxgst. ]fb Gron‛R.[. trghunoc gs tfb dlstprldgnbnt bxodpcb (Ighsln onm Mroflzoc 8::1).=  ]fb trghunoc bstoh-cgsfbm alr tfb rbstrukturgni la Groq‗s [ommod-bro mbhts, wfgkf fos hbbnqugtb sukkbssauc sl aor, gs onltfbr bxodpcb (Mbbh 8::9). O slvbrbgin mbhttrghunoc hosbm oclni tfb cgnbs la tfbsb trghunocs klucm prlvgmb tfb cbiocstrukturbs tfot orb gnmgspbnsohcb tl bstohcgsfgni sdlltf prlkbmurbs alrslvbrbgin mbht rbstrukturgni.

Os tl wfbrb tfgs trghunoc wlucm hb clkotbm, flw gt wlucm hb kln-stgtutbm, onm flw gt wlucm aunktgln, vorglus skbnorgls orb gdoignohcb.Xbcbvont stoebflcmbrs klucm gmbntgay on gnstgtutgln wgtf krbmghgcgty onm ostrlni rbputotgln tfot gs nlt on oktuoc lr pltbntgoc krbmgtlr tl slvbrbgins.]fb prlkbmurbs dgift gnkcumb tgdb-hlunm dbmgotgln os o prbkurslr tlorhgtrotgln lr os o kldpcbdbnt tl lnilgni rbstrukturgni nbiltgotglns.]fb krbotgln la o slvbrbgin mbht trghunoc wlucm ocsl hugcm klnagmbnkb alructgdotbcy bdhrokgni hrlombr rbalrd lh`bktgvbs.

Krbotgln la o slvbrbgin mbht trghunoc gs cgebcy tl hb klnarlntbm wgtf

rbsbrvotglns, klnkbrns, onm lhstokcbs.2 Os tfbrb gs nl bnalrkbdbnt dbkfo-ngsd, sukf o trghunoc klucm hb krbotbm hosbm lncy ln klnsbnsus odlnirbcbvont stoebflcmbrs tfot tfb prlhcbds la o mbaouctgni slvbrbgin orb hbt-tbr slcvbm wgtf o slvbrbgin mbht trghunoc tfon wgtflut lnb.

Krbotgni on gntbrnotglnoc orhgtroc trghunoc fos sbvbroc omvontoibs0

• Gt gs hosbm ln klnsbnsus odlni eby stoebflcmbrs.• Gt fonmcbs mgsputbs hbtwbbn krbmgtlrs onm tfb slvbrbgin mbhtlr gn o

nbutroc alrud, tfbrbhy tlngni mlwn sldb la tfb bdltglns tfot oaabkt

sukf mgsputbs.• Gt hrgnis klfbsgln onm strukturb tl wfot gs latbn o mgslriongzbmirlup la onxglus stoebflcmbrs wfl gngtgotb gnmgvgmuoc strotbigbs(usuoccy gn mgaabrbnt pcokbs) tl sbkurb tfb dlst prlagtohcb lutkldbalr tfbdsbcvbs.

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• Rncgeb klccbktgvb oktgln kcousbs, gt klvbrs hltf krbmgtlrs onm tfb slv-brbgin mbhtlr.

• Gt klucm krbotb klnagmbnkb ln tfb port la slvbrbgins onm krbmgtlrs tfot

o pllc la bxpbrt orhgtrotlrs plssbss tfb bxpbrgbnkb onm enlwcbmibnbbmbm tl rbslcvb tfb kldpcbx gssubs la slvbrbgin mbaoucts.

]fb prlplsoc mbskrghbm fbrb mgaabrs arld sgdgcor prlplsocs put alrwormhy nlnilvbrndbntoc lriongzotglns (NILs) tfot fovb clni omvlkotbmrbslcutgln la slvbrbgin mbht rbstrukturgnis tfrluif orhgtrotgln. Yfbnsukf NILs mgskuss orhgtrotgln, tfby orb ibnbroccy rbabrrgni tl on om flkorhgtrotgln prlkbss cgeb tfot usbm gn kbrtogn typbs la klddbrkgoc mgsputbs.Gn tfgs egnm la orhgtrotgln, bokf porty typgkoccy opplgnts lnb orhgtrotlr.

]fb twl orhgtrotlrs tfbn sbcbkt o tfgrm orhgtrotlr.Octfluif o nudhbr la wbcc-bstohcgsfbm onm wbcc-rbspbktbm gntbrno-tglnoc orhgtrotgln gnstgtutglns, sukf os tfb Gntbrnotglnoc Kfodhbr la Kld-dbrkb gn Zorgs, orb usbm gn tfb klddbrkgoc orhgtrotgln klntbxt, tfb pllc lapltbntgoc orhgtrotlrs dogntognbm hy sukf gnstgtutglns gs sl corib tfot tfbrbgs o monibr la onlnydgty. ]fgs prlhcbd klucm brlmb klfbrbnkb, prbvbnt tfbpllc la orhgtrotlrs arld stbomgcy iogngni bxpbrtgsb, onm rbsuct gn gnklnsgs-tbnt rucgnis okrlss ponbcs.

Gn klntrost, tfb prlplsoc suiibstbm fbrb bnvgsoibs o dlmbc hosbmln tfb Gron‛R.[. Kcogds ]rghunoc, wfgkf kldprgsbs o sdocc nudhbr lafgif-prlagcb ponbcgsts. ]fb orhgtrotlrs wlucm fovb tfb lpplrtungty tlhbkldb okquogntbm wgtf lnb onltfbr onm mgskuss gssubs la klddln kln-kbrn, tfbrbhy occlwgni tfbd tl mbvbclp o klddln tfrbom la rboslngni gnommrbssgni sgdgcor kosbs.

]fb omvontoibs la o slvbrbgin mbht trghunoc orb dongalcm. Hy gts mbsginonm strukturb, sukf o hlmy wlucm nbkbssorgcy mbvbclp bxpbrtgsb. Kosbswlucm hb om`umgkotbm hy o sdocc, fgifcy quocgagbm pllc la gntbrnotglnoc`umibs rotfbr tfon `umibs arld Nbw Wlre, Clnmln, lr wfbrbvbr portgbsoirbbm tl fovb tfbgr alrud. Gn klntrost tl tromgtglnoc klccbktgvb oktgln

kcousbs, o slvbrbgin mbht trghunoc wlucm bstohcgsf kcbor prlkbmuroc rucbs,tfbrbhy bnfonkgni tronsporbnky onm cbigtgdoky. O sbca-gdplsbm klnstrogntln prlkbmuroc gssubs wlucm occlw alr suaagkgbnt acbxghgcgty gn rbiorm tlsuhstontgvb dottbrs, wfgkf orb latbn vgbwbm (portgkucorcy hy nlncbiocprlabssglns) os dlrb gdplrtont tfon prlkbmuroc gssubs.

Krbotgln onm Kldplsgtgln la on Orhgtroc ]rghunoc 

Gn lrmbr tl bn`ly tfb hbnbagts la gnstgtutglnoc hokegni onm gntbrnotglnoc

rbputotgln, tfb trghunoc sflucm hb bstohcgsfbm unmbr tfb ouspgkbs la ofgifcy rbputbm gnstgtutgln tfot mlbs nlt cbnm tl slvbrbgins. ]fgs rbstrgktglnrucbs lut tfb Gntbrnotglnoc Dlnbtory Aunm (GDA) onm tfb Ylrcm HoneIrlup (Yoghbc 8::9).

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o stonmgni orhgtroc trghunoc os o prlkbmuroc slcutgln ;8?

Octfluif tfb Gntbrnotglnoc Kbntrb alr [bttcbdbnt la Gnvbstdbnt Mgsputbs(GK[GM) gs o wbcc-bstohcgsfbm onm aunktglngni orhgtrotgln kbntbr, gt klucm nltsbrvb os on slvbrbgin mbht trghunoc alr ot cbost twl rboslns. Agrst, GK[GM

hbclnis tl tfb Ylrcm Hone Irlup, o slurkb la pbrkbgvbm hgos. [bklnm,octfluif dony slvbrbgin mbhts orb gnvbstdbnt rbcotbm, dony ltfbrs orb nlt.]fb fgifcy kldpcbx gssub la o slvbrbgin gn mbaouct dust nlt hb strgppbm laocc gts kldpcbxgtgbs, gnkcumgni plcgtgkoc, bklnldgk, cbioc, onm slkgoc gdpcgko-tglns, onm rbmukbm tl o dbrb gnvbstdbnt prlhcbd.

On gntbrnotglnoc gnstgtutgln tfot oppbors opprlprgotb gs tfb RngtbmNotglns. Octbrnotgvbcy, o kluntry sukf os tfb Nbtfbrconms lr Nlrwoyklucm flst tfb trghunoc (tfb Nbtfbrconms gs kurrbntcy bxpclrgni tfb pls-sghgcgtgbs alr sukf on unmbrtoegni). ]fb omvontoib la flusgni tfb gnstg-

tutgln lutsgmb o ductgcotbroc gnstgtutgln gs tfot gt klucm hb krbotbm dlrbqugkecy tfon gt klucm unmbr RN ouspgkbs, igvbn tfb Rngtbm Notgln‗s donystoebflcmbrs.

[ldb klddbntotlrs (Xbgngskf 8::;5 [tgicgtz 8::;) fovb prlplsbmonltfbr octbrnotgvb, nodbcy, bstohcgsfgni o iclhoc honeruptky klurt osslkg-otbm wgtf, soy, tfb Gntbrnotglnoc Klurt la @ustgkb. Os oppbocgni os tfgs gmbodoy oppbor ot agrst hcusf, bvbn ga o spbkgoc slvbrbgin honeruptky kfodhbrwbrb kldpcbtbcy sbporotbm arld tfb `umgkgory la tfb Gntbrnotglnoc Klurtla @ustgkb, gt klucm suaabr sldb la tfb sodb okkbptonkb, rbklingtgln, onmbnalrkbdbnt prlhcbds tfb Gntbrnotglnoc Klurt la @ustgkb fos bxpbrgbnkbm.

Yfotbvbr gnstgtutgln krbotbs tfb trghunoc, vorglus qubstglns rbiormgnigts aunktglngni onm lpbrotgln nbbm tl hb ommrbssbm. ]fbsb qubstglns rbiormtfb sbcbktgln prlkbss alr tfb pllc la orhgtrotlrs, tfb bstohcgsfdbnt la opbrdonbnt sbkrbtorgot, tfb krbotgln la o Ybh sgtb, tfb poydbnt la orhgtro-tlrs, onm rbcotbm gssubs.

]fb sbcbktgln la orhgtrotlrs klucm hb fonmcbm gn tfb woy tfb GDA prl-plsbm gn gts ottbdpt tl sbt up gts [lvbrbgin Mbht-Xbstrukturgni Dbkfongsd([MXD) (Zoucus 8::;o). O puhcgk agiurb wgtf gntbrnotglnoc stoturb”sukfos tfb sbkrbtory-ibnbroc la tfb Rngtbm Notglns, alr gnstonkb”wlucm sbcbkt

8:‛;: orhgtrotlrs (lr, gn tfb gntbrbst la bvbn irbotbr nbutrocgty, ?: orhgtro-tlrs, wfl wlucm sbcbkt tfb 8:‛;: orhgtrotlrs). ]fb sbcbktgln wlucm rbacbkto mgvbrsgty la notglnoc onm prlabssglnoc hokeirlunms. ]fb orhgtrotlrswlucm bcbkt lnb la tfbgr dbdhbrs os prbsgmbnt la tfb trghunoc.

]fb sbcbktgln la orhgtrotlrs gn tfgs donnbr fos tfb pltbntgoc omvontoibla alstbrgni trust”nl sdocc klnsgmbrotgln igvbn tfb gdplrtonkb la pbrkbp-tgln gn slvbrbgin mbht rbstrukturgni. ]fb prbsgmbnt‗s tose wlucm hb tl mroattfb prlkbmuroc rucbs alr tfb trghunoc, wfgkf wlucm hb bnoktbm lncy oatbr occlr o do`lrgty la orhgtrotlrs iovb tfbgr klnsbnt onm tfb puhcgk agiurb rbspln-

sghcb alr sbcbktgni tfb orhgtrotlrs fom hbbn gnalrdbm la tfb prlplsbm rucbs.]fb prbsgmbnt la tfb trghunoc wlucm ocsl opplgnt orhgtrotlrs tl spbkgagkkosbs. ]fb prbsgmbnt wlucm hb tfb lncy aucc-tgdb orhgtrotlr5 occ ltfbrs wlucmwlre wfbn koccbm upln hy tfb trghunoc‗s prbsgmbnt.

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]fb mbtogcs la tfb ponbcs dgift mbpbnm ln tfb nbbms la bokf kosb. [ldbkosbs, alr bxodpcb, dgift rbqugrb lncy o sgnicb orhgtrotlr, wfbrbos ltf-brs dgift rbqugrb os dony os tfrbb orhgtrotlrs. Mbpbnmgni ln tfb sklpb

la tfb trghunoc‗s toses, tfb oppcgkohcb suhstontgvb cow dgift nbbm tl hbmbtbrdgnbm.

O nbkbssory aboturb la ony orhgtrotgln trghunoc gs tfot gt fovb nl gntrgn-sgk outflrgty tl gngtgotb lr mbkgmb kosbs ln gts lwn. Ony sukf outflrgty wgcchb mbpbnmbnt ln tfb klntroktuoc oirbbdbnt tl orhgtrotgln hy occ rbcbvontportgbs5 sukf oirbbdbnt tl orhgtrotgln gs tfb krgtgkoc unmbrpgnngni la onygntbrnotglnoc orhgtrotgln prlkbss. ]fb rbqugrbdbnt alr prglr oirbbdbntstonms bvbn ga tfb kgrkudstonkbs orb os ungqubcy prbssgni os tfby wbrb gntfb kosbs la tfb Gron‛R.[. Kcogds ]rghunoc onm tfb mbht rbskfbmucgni la

Groq oatbr 8::;.Gn hltf la tfbsb kosbs, tfb trghunocs wbrb krbotbm oatbr tfb lnsbt la tfbkrgsgs. Lnb konnlt ossudb tfot sukf on bx plst rbsuct kon hb okfgbvbmgn bvbry kosb, flwbvbr. Gn dlst kosbs, gt gs uncgebcy tfot occ stoebflcmbrswgcc klnsbnt tl o slvbrbgin‗s laabr alr orhgtrotgln lnkb o mbht krgsgs foshbiun. ]fb gntrlmuktgln la on orhgtroc trghunoc wgcc tfus usuoccy mbpbnmln o prbkrgsgs klnsbnsus odlni tfb portgbs, doegni gt krgtgkoc tl gnkcumbon orhgtrotgln kcousb gn occ gssuonkbs la slvbrbgin hlnms onm ltfbr gnstru-dbnts usbm tl gssub slvbrbgin mbht.1

Igvbn tfgs mbpbnmbnkb ln klntroktuoc oirbbdbnt hbtwbbn tfb portgbs,o mlwnsgmb la tfb prlplsoc gs lhvglus0 portgbs tfot ml nlt bntbr sukf oklntroktuoc oirbbdbnt wgtf tfb slvbrbgin orb nlt suh`bkt tl tfb trghunoc‗s`urgsmgktgln. [ukf mbhts wgcc fovb tl hb mboct wgtf gn tfb tromgtglnoc don-nbr. ]fb prlplsoc tfus mbocs lncy wgtf klntroktuoc lhcgiotglns ln mbhtgnstrudbnts sukf os hlnm gssuonkbs. Gt gs flpbm tfot lnkb sukf o trghunoc gsbstohcgsfbm, gt wgcc hbkldb ibnbroccy okkbptohcb onm krbotb spgcclvbr baabktsln tfb cbioc trbotdbnt la ltfbr stotb lhcgiotglns.

 @urgsmgktgln onm Kldpbtbnkb la tfb ]rghunoc 

]fb toses onm mutgbs la o mbht-rbstrukturgni trghunoc kon hb dongalcm,mbpbnmgni ln tfb klnagiurotgln la tfb mbht-rbstrukturgni dbkfongsd gtsbca.]fb typb la dbkfongsd usbm mbpbnms ln flw aor lnb wonts tl bxtbnm tfbgnacubnkb la tfb orhgtroc trghunoc. ]fb sklpb la gts toses sflucm hb korb-auccy mbcgnbotbm gn tfb rbcbvont hlnm gssuonkb kcousb lr ltfbr rbcbvont mbhtgnstrudbnt prlvgmgni alr orhgtrotgln.

Gn okklrmonkb wgtf wfot gs klnsgmbrbm fbrb tl hb o proidotgk onm dlm-bst opprlokf, tfb orhgtroc trghunoc sflucm, ot o dgngdud, hb bdplwbrbm

tl ommrbss dottbrs rbcotbm tl tfb vbrgagkotgln la krbmgtlr kcogds, os wbcc osvltgni gssubs rbcotbm tl tfb opprlvoc la tfb rbstrukturgni pcon onm sgdgcordottbrs. Hbylnm tfot, tfb bxtbnt tl wfgkf tfb trghunoc gs bdplwbrbm tlommrbss spbkgagk gssubs sflucm hb cbat tl tfb mgskrbtgln la tfb portgbs. ]fbpbrglm murgni wfgkf tfb trghunoc aunktglns dust ocsl hb mbtbrdgnbm. Lnb

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o stonmgni orhgtroc trghunoc os o prlkbmuroc slcutgln ;8;

lptgln gs tl mgshonm gt oatbr tfb prlkbbmgni gs kclsbm. Onltfbr gs tl occlw gttl aunktgln untgc occ kosb-rbcotbm mgsputbs, bvbn tflsb tfot bdbrib oatbr tfbklursb la tfb prlkbbmgni, orb rbslcvbm.

Os o proktgkoc dottbr, tfb hlnm-gssugni slvbrbgin doy mroat tfb orhgtro-tgln kcousb onm prlplsb gt tl tfb gnvbstlr klddungty, wfgkf tfbn mbkgmbswfbtfbr tl okkbpt gt. Mbpbnmgni ln tfb mbtogcs la tfb kcousb prlplsbm, gtklucm krbotb o huygni gnkbntgvb lr mgsgnkbntgvb alr gnvbstlrs. Gt gs klnkbgv-ohcb tfot, wgtf tfb possoib la tgdb onm tfb mbvbclpdbnt la bxpbrgbnkb gntfgs orbo, kbrtogn proktgkbs doy iogn okkbptonkb gn tfb dorebt, wgtf tfbrbsuct tfot kbrtogn stonmorm orhgtrotgln kcousbs doy bdbrib gn slvbrbginhlnm gssuonkbs.

Lnb la tfb do`lr gssubs tl hb ommrbssbm gs wfgkf mgsputbs tfb trghunoc

sflucm hb kldpbtbnt tl mbkgmb. [flucm tfb trghunoc hb rbstrgktbm tl mbkgm-gni norrlw, tbkfngkoc cbioc gssubs< [flucm gt hb cgdgtbm tl mbkgmgni ln tfbcbioc vocgmgty la bokf gnmgvgmuoc krbmgtlr kcogd lr pbrdgttbm tl mbtbrdgnbtfb cbioc vocgmgty la tfb slvbrbgin‗s prlplsoc alr mbht rbstrukturgni< Ltfbrgssubs tfot klucm plssghcy hb fonmcbm hy tfb gntbrnotglnoc trghunoc (suh`bkttl prglr klntroktuoc oirbbdbnt hy tfb portgbs) gnkcumb tfb alcclwgni0

• Yfot klnstgtutbs sustognohcb mbht alr tfb slvbrbgin gn qubstgln (tfbGDA klucm hb pbrdgttbm tl doeb suhdgssglns ln tfgs dottbr, bvbntfluif gt gs nlt o porty tl tfb orhgtrotgln, plssghcy suh`bkt tl kbrtognklnagmbntgocgty rbstrgktglns, igvbn tfb sbnsgtgvgty la tfb gnalrdotgln)

• Yfbtfbr tfb bklnldgk ossudptglns unmbrpgnngni o rbstrukturgnipcon orb rboslnohcb9

• [otgsaoktgln la tfb klddbnkbdbnt krgtbrgo alr gnvlegni tfb orhgtro-tgln dbkfongsd (alr gnstonkb, tfb bxkusohgcgty la tfb mbaouct)

• Yfbtfbr tfb portgbs fovb bnioibm gn illm aogtf nbiltgotglns• ]fb abosghgcgty onm rboslnohcbnbss la ony prlplsbm rbstrukturgni pcon• Yfbtfbr tfb mbht gn qubstgln klnstgtutbs o clmiohcb mbht5 ga sl,

wfbtfbr gt klnstgtutbs on –lmglus mbht—5 onm wfot, ga ony, gdpcgko-

tglns alcclw arld tfot mbtbrdgnotgln.6

Yfl Gs tl Hb Hlunm hy tfb ]rghunoc‗s Mbkgsglns0Gntbrkrbmgtlr Bqugty

On oirbbdbnt klucm gnkcumb o rucb sbttgni alrtf tfb mbirbb tl wfgkf o mbkg-sgln la tfb trghunoc wlucm hb hgnmgni ln ltfbr krbmgtlrs. Ga tfb trghunocgs bdplwbrbm gn gts mbkgsglns tl toeb gntl okklunt gssubs la gntbrkrbmgtlrbqugty, gts mbkgsglns klucm hb hgnmgni lncy ln gssuonkbs tfot fovb tfbgr

lwn orhgtrotgln kcousbs. ]fb trghunoc klucm tfbn wbgif, alr gnstonkb, tfbmgaabrbnt doturgtgbs, tfb rgse cbvbc (rotgni) la bokf gssuonkb, tfb prldgsbmgntbrbst rotbs, onm occ ltfbr rbcbvont mbtogcs.

]fb hgnmgni baabkt wlucm bxtbnm lncy tl krbmgtlrs tfot oirbbm tl suh`bkttfbdsbcvbs tl orhgtrotgln wfbn tfby sginbm tfb klntrokt purkfosgni tfb

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slvbrbgin‗s hlnms lr bxtbnmgni krbmgt tl tfb slvbrbgin gn sldb ltfbr don-nbr (sukf os tfrluif hone clons). Krbmgtlrs tfot mgm nlt sgin o klntroktklntogngni on orhgtrotgln kcousb wlucm nlt hb hlunm hy tfb trghunoc‗s

mbkgsglns. ]fbrbalrb, orhgtrotgln (os mgstgnkt arld klccbktgvb oktgln kcousbs)kon ommrbss tfb gssub la nlnklnsbntgni krbmgtlrs gn o mbht rbstrukturgnilncy tl tfb bxtbnt tfot sukf krbmgtlrs oirbbm tl on orhgtrotgln prlvgsgln gntfb unmbrcygni mbht gnstrudbnts.

]fgs sldbwfot slhbrgni cbioc klnkcusgln mlbs nlt bxkcumb dbkfongsdsmbsginbm tl doeb quosg-vlcuntory portgkgpotgln gn tfb slvbrbgin mbht trghu-noc prlkbss dlrb ottroktgvb. Lnb woy tl gnkbntgvgzb portgkgpotgln wlucm hbtl hgnm tfb puhcgk sbktlr, tfb honegni sbktlr, lr hltf”alr gnstonkb, upln tfbklnmgtgln tfot o kbrtogn tfrbsflcm plrtgln la tfb prgvotb sbktlr hb hlunm.

Mbkgsglns hy tfb slvbrbgin mbht trghunoc wlucm prlhohcy nlt klnstgtutbhgnmgni prbkbmbnts, os o trghunoc gs nlt o klddln cow klurt. Flwbvbr,mbpbnmgni ln gts outflrgty”wfgkf, gn turn, mbpbnms ln gts klnvgnkgnionm unhgosbm rboslngni”gts mbkgsglns (cgeb tflsb la bxgstgni orhgtrotglntrghunocs) wlucm alrd port la on bvlcvgni hlmy la puhcgk cow ln slvbrbginmbht rbstrukturgni tfot uctgdotbcy klucm cbom tl o wbcc-bstohcgsfbm hlmy lacow ln gts lwn.

]rgiibrs alr Gnvlegni tfb Orhgtroc Dbkfongsd

]fb onnlunkbdbnt la o mbaouct”os mbagnbm gn tfb gssuonkb klntrokt”wlucm trgiibr tfb usb la tfb orhgtrotgln trghunoc. Mbpbnmgni ln flw tfb por-tgbs mroat tfb coniuoib la tfb orhgtrotgln kcousb, o mbaouct klucm klddbnkbbvbn hbalrb sukf on onnlunkbdbnt, wfbn gnslcvbnky oppborbm gddgnbnt.]fb portgbs tl o slvbrbgin mbht gssuonkb sflucm mbtbrdgnb wfbtfbr tfbtrghunoc‗s kldpbtbnkb sflucm gnkcumb mbtbrdgnotgln la wfbtfbr tfb prb-rbqugsgtbs la sukf o mbaouct trgiibr fovb dotbrgocgzbm.

]fb oirbbdbnt sflucm ocsl spbkgay wfgkf sgmb”lncy tfb slvbrbgin lrhltf tfb slvbrbgin onm krbmgtlrs”sfocc hb occlwbm tl gnvleb tfb orhg-

trotgln dbkfongsd. Octfluif arld o mgskgpcgngni pbrspbktgvb, gt wlucmoppbor tl hb prbabrohcb tl hbstlw sukf o rgift ln hltf sgmbs, slvbrbginsdoy nlt hb wgccgni tl occlw krbmgtlrs tl suh`bkt tfbd tl sukf prlkbbm-gnis. ]fus, alr plcgtgkoc rboslns, puccgni tfb trgiibr dgift hb cbat tl tfbslvbrbgin mbhtlr oclnb lr tl tfb slvbrbgin mbhtlr onm krbmgtlrs oktgnign ungsln.

Ilvbrngni Cow onm Oppcgkohcb Gnslcvbnky Xucbsonm Zrgnkgpcbs

Yfgkf cows sflucm ilvbrn tfb prlkbbmgnis la tfb slvbrbgin mbht trghunoc<Ga gt gs tfb cow la o portgkucor `urgsmgktgln, sflucm gssubs la puhcgk gntbr-notglnoc cow hb gnkcumbm, gn tltl lr portgoccy< Flw sflucm gntbrkrbmgtlr

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;81  poucus

Dbmgotgln os Zrbkurslr tl Orhgtrotgln

Os o kldpcbdbnt tl tfb prlplsoc alr o slvbrbgin mbht‛rbstrukturgni trghu-

noc prbsbntbm fbrb, gt doy hb wlrtf fovgni tfb portgbs tl o slvbrbgin mbhtgssuonkb klnsgmbr wfbtfbr tfby wgsf tl rbqugrb dbmgotgln, wfgkf hy gtsnoturb gs nlnhgnmgni ln tfb portgbs, os o prbkurslr tl o hgnmgni orhgtrotglnprlkbmurb.?: ]fb portgbs klucm spbkgay gn tfbgr orhgtrotgln kcousb wfbtfbrdbmgotgln gs o nbkbssory stbp tl hb bxfoustbm hbalrb tfby orb pbrdgttbmtl rbslrt tl orhgtrotgln. Bvbn ga dbmgotgln gs nlt spbkgagbm os o alrdoc prb-rbqugsgtb tl orhgtrotgln, tfb portgbs klucm stgcc rbslrt tl dbmgotgln ga tfbytfgne gt dgift fbcp rbslcvb mgsputbs lr ltfbrwgsb omvonkb tfb rbstrukturgniprlkbss. ]l gnfghgt prlkbmuroc ohusb (onm tl mgskgpcgnb stoebflcmbrs), gt gs

prlhohcy nbkbssory tl gdplsb tgdb rbstrgktglns wgtfgn wfgkf dbmgotglnwlucm fovb tl hb gngtgotbm onm kldpcbtbm.]fb plssghgcgty la dbmgotgni mgsputbs klucm prlvgmb portgbs wgtf o cbss

omvbrsorgoc alrud alr rbslcvgni tfbgr mgsputbs hbalrb tfby turn tl o fgifbrstoebs onm pltbntgoccy dlrb prltroktbm onm omvbrsorgoc orhgtrotgln prlkbss.Yfbtfbr lr nlt dbmgotgln gs o alrdoc prbrbqugsgtb tl hgnmgni orhgtrotgln, gtkon hb sbbn os o tllc tl hrgmib tfb mgaabrbnkbs hbtwbbn tfb portgbs ln onylutstonmgni nbiltgotgni gssubs, ossgstgni tfbd gn ony lnilgni baalrts tlrbokf o rbstrukturgni oirbbdbnt. Gn tfgs cgift, dbmgotgln kon hb vgbwbm oso usbauc dbkfongsd alr fbcpgni tfb portgbs rbokf tfb nbkbssory tfrbsflcmsla krbmgtlr supplrt sbt alrtf gn ony oppcgkohcb klccbktgvb oktgln kcousbs.

Agnonkgni onm [upplrt alr on Orhgtroc ]rghunoc 

]fb hosgk agnonkgni onm supplrt alr tfb orhgtroc trghunoc sflucm kldbarld tfb splnslrgni lriongzotgln (alr gnstonkb, tfb Rngtbm Notglns lrtfb kluntry flstgni tfb trghunoc). ]fgs agnonkgni wlucm nbbm tl klvbr tfbsocory la tfb trghunoc prbsgmbnt, laagkb spokb, onm o sdocc sbkrbtorgot tlfonmcb ibnbroc omdgngstrotgvb dottbrs, gnkcumgni ebbpgni trghunoc dbd-

hbrs ohrbost la kurrbnt mbvbclpdbnts gn slvbrbgin mbht rbstrukturgnis onmmbaoucts onm kllrmgnotgni tfb rlstbr la mbsginotbm orhgtrotlrs. ]fb por-tgbs tl on oktuoc orhgtrotgln prlkbbmgni wlucm hb slcbcy rbsplnsghcb alrmbaroygni tfb klsts la tfb orhgtrotgln, gnkcumgni tfb abbs onm bxpbnsbs latfb orhgtrotlrs, wfgkf kon hb sgingagkont.

Klnkcumgni Xbdores

]fb prlplsoc lutcgnbm fbrb gs dbrbcy tfb gngtgoc alrducotgln la on gmbo.]fb gmbo doy mbsbrvb sbrglus klnsgmbrotgln gn lrmbr tl ommrbss o prlh-cbd tfot doy irlw dlrb okutb wgtf tfb irlwgni iops hbtwbbn rgkf onmpllrbr kluntrgbs. Os tfb Rngtbm Notglns (8::=, p. 8) nltbs gn gts rbplrtO Dlrb [bkurb Ylrcm0 Lur [forbm Xbsplnsghgcgty, –kldhotgni plvbrty

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o stonmgni orhgtroc trghunoc os o prlkbmuroc slcutgln ;89 

wgcc nlt lncy sovb dgccglns la cgvbs hut ocsl strbnitfbn tfb [totb‗s kopok-gty tl kldhot tbrrlrgsd, lriongzbm krgdb onm prlcgabrotgln. Mbvbclpdbntdoebs bvbrylnb dlrb sbkurb.— Dlrblvbr, os iclhocgzotgln gs gnkrbosgni

tfb kldpcbxgty onm tfb nudhbr la rbcbvont oktlrs gn tfb wlrcm la slvbr-bgin agnonkb, tfb nbbm tl mbvbclp o prbmgktohcb onm rbcgohcb prlkbmurb alrrbslcvgni tfb prlhcbds la slvbrbgins gn mbaouct gs cgebcy tl hbkldb dlrbprbssgni, rbqugrgni tfb ottbntgln la plcgky doebrs onm stoebflcmbrs.

[ukkbssauc usb la tfb slvbrbgin mbht trghunoc prlplsbm fbrb klucmhugcm klnagmbnkb alr bdhrokgni hrlombr lh`bktgvbs gn tfb orbo la slvbr-bgin mbht rbalrd. Zlsgtgvb bxpbrgbnkbs”portgkucorcy o sbrgbs la plsgtgvbbxpbrgbnkbs”klucm gnkrbosb tfb wgccgninbss la stoebflcmbrs gn slvbrbginmbht rbstrukturgnis tl klnsgmbr ltfbr dlrb aunmodbntoc rbalrds tl tfb

slvbrbgin mbht‛rbstrukturgni prlkbss.

Nltbs

  ?. [bb ocsl tfb Bquotlr Zrgnkgpcbs (www.bquotlr-prgnkgpcbs.kld).  8. Zoucus (alrtfkldgni) mrows klnkcusglns arld tfb sl-koccbm Rctgdotud

Iodb gn lrmbr tl bxpcogn tfb prldgnbnkb la ony honeruptky systbd.  ;. ]fgs sbktgln gs hosbm ln on unpuhcgsfbm popbr wrgttbn hy tfb outflr onm

[tbvbn ]. Eoridon.

=. Alr aucc gnalrdotgln ln tfb trghunoc, sbb www.guskt.lri.  2. Gn tfb sprgni la 8:?:, tfb Ibrdon ilvbrndbnt kodb up wgtf o prlplsoc

tl bnokt o egnm la gnslcvbnky cow alr lvbrgnmbhtbm stotbs wgtfgn tfb Burl Orbo.Gn tfgs klntbxt, tfb bstohcgsfdbnt la on gnslcvbnky klurt wos hrgbacy klnsgmbrbm.Rctgdotbcy, ottbdpts tl bnokt sukf o cow wbrb put laa untgc sldb cotbr tgdb.

  1. Os tfbsb kcousbs wgcc nlt hb rbtrloktgvb, prlhcbds orb cgebcy tl orgsb alr sldbtgdb wfbn mbht lhcgiotglns wgtflut sukf kcousbs bxgst oclnisgmb tflsb wgtf sukfkcousbs.

9. O slvbrbgin doy fovb lvbrcllebm lhvglus plssghgcgtgbs la rbmukgni klsts”hykuttgni tfb ?;tf socory alr stotb bdpclybbs, alr gnstonkb, on gdplrtont klst sovbrwfbn tfgs irlup gs corib.

  6. ]l tfb mbirbb tfot tfb gssubs cgstbm gnkcumb bklnldgk onocysgs, tfb pllc laorhgtrotlrs dust gnkcumb sldb wgtf bxpbrtgsb gn bklnldgks.7. ]fbrb gs o sldbwfot poroccbc dbkfongsd gn tfb mbtbrdgnotgln la o trustbb

la on gnmbnturb. ?:. Mlgni sl wlucm tl o kbrtogn mbirbb alcclw tfb bxodpcb la GK[GM‗s klnkgcg-

otgln dbkfongsd.

Xbabrbnkbs

Hlflscowsey, @uon Zohcl. 8::7. Krçmgtls ohusgvls. Hubnls Ogrbs, Oribntgno.Hukffbgt, Cbb K. 8::7. –]fb Rsb la Krbmgtlr Klddgttbbs gn [lvbrbgin Mbht Ylre-

luts.— Husgnbss Cow Gntbrnotglnoc  ?: (;).

Hukffbgt, Cbb K., onm I. Dgtu Iucotg. 8:?:. –Xbsplnsghcb [lvbrbgin Cbnmgni.—fttp0//ssrn.kld/ohstrokt4?26=18=.

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;86  poucus

Hukffbgt, Cbb K., onm @brbdgof [. Zod. 8::=. –]fb Zorg Zossu Kcousb gn [lvbrbginMbht Gnstrudbnts.— Bdlry Cow @lurnoc  2? (617).

Hukecby, Xlss. 8::7. –]fb Honeruptky la Notglns0 On Gmbo Yflsb ]gdb Fos

Kldb.— Gntbrnotglnoc Cowybr =; (??71)0 ??67‛?8?1.Klugccouct, Hbrtronm, onm Zgbrrb-Aronklgs Ybhbr. 8::;. –]lworm o Qlcuntory Klmb

la Illm Klnmukt alr [lvbrbgin Mbht Xbstrukturgni.— Honqub mb Aronkb, Agnon-kgoc [tohgcgty Xbvgbw, @unb, Zorgs.

Mbbh, Fomg Ngkflcos. 8::9. –Zrl`bkt 1660 ]fb Xbstrukturgni la Groq‗s [ommod-BroMbht.— Kcbory Ilttcgbh Xbstrukturgni Nbwscbttbr Ygntbr0 ;‛?:.

Iocvgs, [brigl @., onm Onibc C. [oom. 8::=. –Klccbktgvb Oktgln Kcousbs0 XbkbntZrlirbss onm Kfoccbnibs Ofbom.— Iblribtlwn @lurnoc la Gntbrnotglnoc Cow ;2(9?;). fttp0//www.occhusgnbss.kld/cbioc/;267?;6-?.ftdc.

Ighsln, Kfrgstlpfbr [., onm Kfrgstlpfbr X. Mroflzoc. 8::1. –Gron‛Rngtbm [totbs

Kcogds ]rghunoc Zrbkbmbnt gn Gnvbstlr-[totb Orhgtrotgln.—  @lurnoc la Gntbrno-tglnoc Orhgtrotgln 8; (28?).

Irlup la ]bn. 8::8. Xbplrt la tfb I-?: Ylregni Irlup ln Klntroktuoc Kcousbs. www.hgs.lri/puhc/itbn:6.pma.

Iuigottg, Dore, onm Ontflny Xgkforms. 8::=. –]fb Rsb la Klccbktgvb OktglnKcousbs gn Nbw Wlre Cow Hlnms la [lvbrbgin Hlrrlwbrs.— Iblribtlwn @lur-noc la Gntbrnotglnoc Cow ;2 (6?2).

Foion, [bon. 8::2. –Mbsgingni o Cbioc Arodbwlre tl Xbskub [lvbrbgin Mbht.—Iblribtlwn @lurnoc la Gntbrnotglnoc Cow ;1 (877).

Flpt, 8::7. –Nbubs [kfucmvbrskfrbghunisrbkft‛Hbdbreunibn unm Onrbiunibn

ous ]fblrgb unm Zroxgs.— Gn Abstskfrgat Bhbrform [kfwore, bm. [tbaon Irunm-donn, Kfrgstgon Egrkfnbr, ]fldos Xogsbr, Fons-Zbtbr [kfwgntlwseg, DortgnYbhbr, Kfrgstgnb Ygnmhgkfcbr. Dungkf0 K. F. Hbke.

GGA (Gnstgtutb alr Gntbrnotglnoc Agnonkb). 8::=. Zrgnkgpcbs alr [tohcb Kopgtoc Aclwsonm Aogr Mbht Xbstrukturgni gn Bdbrigni Dorebts. Nlvbdhbr. Yosfgnitln,MK.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::2. GDA  Zrlirbss Xbplrt ln Krgsgs Xbslcu-tgln.  www.gda.lri/bxtbrnoc/np/pp/bni/8::2/:78?:2.pma.

Doybr, Kfrgstgon. 8::2. –Ygb nífbrt don sgkf bgnbd gntbrnotglnocbn Gnslcvbnzvbr-aofrbn aór [tootbn<— Pbgtskfrgat aór mos ibsodtb Gnslcvbnzrbkft  7 (=2=).

Dgkfoclwseg, [ohgnb, onm @uon Zohcl Hlflscowsey. 8::7. –Gus Klibns, ]ronsg-tglnoc @ustgkb onm Ltfbr ]rbnms la tfb Mbhotb ln Lmglus Mbhts0 O Xbsplnsbtl tfb Ylrcm Hone Mgskussgln Zopbr ln Lmglus Mbhts.— Klcudhgo @lurnoc la]ronsnotglnoc Cow =6 (?)0 1?‛?8:.

Zoucus, Kfrgstlpf I. 8::8. –[ldb ]fluifts ln on Gnslcvbnky Zrlkbmurb alrKluntrgbs.— Odbrgkon @lurnoc la Kldporotgvb Cow 2: (;)0 2;?‛;7.

”””. 8::;o. –Mgb Xlccb mbs Xgkftbrs gn bgnbd eónatgibn [MXD.— Gn Gnslcvbn-zrbkft gd Yonmbc mbr Pbgt0 Abstskfrgat aór Fons-Zbtbr Egrkffla,  bm. YoctbrIbrformt, Fons Foordbybr, onm Ibrform Erbat.

”””. 8::;h. –O [totutlry Zrlkbbmgni alr Xbstrukturgni Mbhts la [lvbrbgin[totbs.— Xbkft mbr Gntbrnotglnocbn Ygrtskfoat  =:0 =:?.

”””. 8::6. –]fb Bvlcutgln la tfb ‖Klnkbpt la Lmglus Mbhts.‗ — Pbgtskfrgat aórouscínmgskfbs ñaabntcgkfbs Xbkft unm Qñcebrrbkft  16 (8)0 ;7?‛=;:.

”””. 8::7. –Xbkftcgkfb Fonmfohbn zur Hbwíctgiuni mbr Óhbrskfucmuni vln[tootbn.— Xbkft mbr Gntbrnotglnocbn Ygrtskfoat  =10 ??.

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o stonmgni orhgtroc trghunoc os o prlkbmuroc slcutgln ;87

”””. Alrtfkldgni. –Gst mos Gnslcvbnzrbkft wgrecgkf bgnb [kfcóssbcdotbrgb aór mgbYgrtskfoats- unm Agnonzstohgcgtít bgnbs Conmbs< Mbr Qbrsukf bgnbr Ontwlrt.— GnAbstskfrgat aór Ecous Fuhbrt Iñri, bm. Dgkfobc Mofc onm Fons-Ibrm @oukf.

”””. Mgb Ybcthone unm mos Gnslcvbnzrbkft.Xbgngskf, Ouiust. 8::;. –Bgn Gnslcvbnzrbkft aór [tootbn<— Ygrtskfoatsplcgtgskfb

Hcíttbr 2:0 862.

[kfgbr, Flcibr. 8::9. ]lworm o Xblriongsotgln [ystbd alr [lvbrbgin Mbht. Cbgmbn0Dortgnus Ng`flaa Zuhcgsfbrs.

[btsbr, Hrom. 8::6. –]fb Zlcgtgkoc Bklnldy la tfb [MXD.— Gngtgotgvb alr ZlcgkyMgocliub ]ose Alrkb ln [lvbrbgin Mbht, Klcudhgo Rngvbrsgty. fttp0//www.kar.lri/klntbnt/puhcgkotglns/ottokfdbnts/[btsbr\GZM\Mbht\[MXD.pma.

[tgicgtz, @lsbpf. 8::;. –Lmglus Xucbrs, Lmglus Mbhts.— Otcontgk Dlntfcy, Nlvbdhbr.www.lmglusmbhts.lri/lmglusmbhts/gnmbx.kad<M[Z4klntbnt&KlntbntGM46299.

[zlmrukf, Ocbxonmbr. 8::6. –[tootbngnslcvbnz unm prgvotb Icíuhgibr‛Xbkftsprlh-cbdb mbs Zrgvotb [bktlr Gnvlcvbdbnt hbg stootcgkfbn Agnonzergsbn gd 8?.—

 @ofrfunmbrt .

RNKG]XOC (Rngtbm Notglns Klddgssgln ln Gntbrnotglnoc ]romb Cow). 8::=.Cbigscotgvb Iugmb ln Gnslcvbnky Cow.  Qgbnno. www.unkgtroc.lri/unkgtroc/bn/ unkgtroc\tbxts/gnslcvbnky/8::=Iugmb.ftdc.

Rngtbm Notglns. 8::=. O Dlrb [bkurb Ylrcm0 Lur [forbm Xbsplnsghgcgty. NbwWlre0 Rngtbm Notglns. fttp0//www.un.lri/sbkurbwlrcm/.

Yoghbc, Dgkfobc Y. 8::9. –Lpbngni Zonmlro‗s Hlx0 [lvbrbgin Hlnms gn Gntbrno-tglnoc Orhgtrotgln.—Odbrgkon @lurnoc la Gntbrnotglnoc Cow ?:? (=)0 9??‛27.

Ylrcm Hone. 8::2. Zrgnkgpcbs alr Baabktgvb Gnslcvbnky onm Krbmgtlr Xgifts [ys-tbds, rbv. vbr. Yosfgnitln, MK0 Ylrcm Hone.

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;;?

?=

Gntbrnotglnoc Cbnmgni la Cost

Xbslrt onm [lvbrbgin MbhtXbstrukturgni

Bmuorml Abrnïnmbz-Orgos

Agnonkgoc krgsgs”tfot gs, tfb gntbrruptgln la nlrdoc okkbss tl agnonkgni”gs o sbrglus onm irlwgni tfrbot tl bklnldgk mbvbclpdbnt gn mbvbclp-gni kluntrgbs tfot orb agnonkgoccy gntbirotbm wgtf tfb rbst la tfb wlrcm.

]fb krgsgs bxpbrgbnkb la tfb post twl mbkombs onm tfb unrbcbntgni pokb laagnonkgoc iclhocgzotgln gn tfb mbvbclpgni wlrcm plgnt tl on gnkrbosgni nbbmalr on gntbrnotglnoc cbnmbr la cost rbslrt (GCCX) prbporbm tl okt wfbn nlltfbr cbnmbr gs kopohcb lr wgccgni tl cbnm gn suaagkgbnt vlcudb tl mboc baabk-tgvbcy wgtf agnonkgoc krgsbs.

Zrlirbss gn bstohcgsfgni on baabktgvb GCCX fos hbbn sclw onm unsotgs-

aoktlry alr tfb dlst port. Gt gs tgdb tl toeb omvontoib la tfb dldbntudkrbotbm hy tfb bdplwbrdbnt la tfb Gntbrnotglnoc Dlnbtory Aunm (GDA) tlommrbss tfb iclhoc krgsgs onm tfb nbw ductgcotbroc gdpbtus osslkgotbm wgtfgt. ]fb prlplsoc gn tfgs kfoptbr supplrts onm hugcms ln rbkbnt gngtgotgvbshy tfb GDA klnkbrngni prbkoutglnory aokgcgtgbs. Gn portgkucor, gt hrgnis mbhtrbstrukturgni unmbr tfb GCCX udhrbcco.

Krgsgs bxpbrgbnkbs sgnkb tfb Hromy mbht rbstrukturgni gn sbvbroc klun-trgbs sflw tfot dlmbrn gntbrnotglnoc agnonkb gs vlcotgcb onm krgsgs prlnb.]fb agnonkgoc krgsbs la bdbrigni kluntrgbs orb hbkldgni gdplrtont slurkbsla cbsslns alr on bvbr-wgmbr sbt la kluntrgbs wgtf okkbss tl hlrrlwgni arldklddbrkgoc slurkbs. ]fb rbkbnt iclhoc rbkbssgln onm ottbnmont puhcgk mbhtbxponsgln fovb monibrluscy wboebnbm slcvbnky gn o nudhbr la kluntrgbs,omvonkbm onm bdbrigni ocgeb. @odogko‗s mbht rbstrukturgni gn 8:?: doy hbtfb agrst gn o nbw wovb oatbr tfb must la tfb iclhoc krgsgs sbttcbs.? 

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;;8  abrnïnmbz-orgos

Octfluif prlirbss fos hbbn domb gn rbsplnsb tl tfb rbkbnt krgsgs (GMH8:?:), ductgcotbroc soabty nbts alr agnonkgoc krgsbs rbdogn aucc la flcbs.8 Mbspgtb prlplsocs tl rbalrd tfb gntbrnotglnoc agnonkgoc orkfgtbkturb tl

ommrbss cgqugmgty krgsbs onm agnonkgoc klntoigln gn tfb nbw agnonkgoc lrmbrtfot fovb hbbn omvonkbm alr dlrb tfon o mbkomb, cgqugmgty aokgcgtgbs rbdogngnombquotb.; Aurtfbrdlrb, nl ductgcotbroc arodbwlre bxgsts tl mboc wgtfslvbrbgin mbht rbstrukturgni. Gn tfb post mbkomb, rbstrukturgnis fovb alunmtfbgr woy”sldbtgdbs odgkohcy, sldbtgdbs okrgdlngluscy hut ocwoysunprbmgktohcy onm gn woys tfot bnrgkf gdoignotgvb cowybrs (Zongzzo,[turzbnbiibr, onm Pbttbcdbybr 8::7).

]fgs kfoptbr mgskussbs tfb gntrgnsgk cgdgtotglns ln kurrbnt GCCX aokgcgtgbsirlwgni tl hbkldb o ibnbrgk slcutgln tl tfb prlhcbd la agnonkgoc krgsbs gn

bdbrigni dorebts. Gt prlplsbs gnstbom on gntbirotbm systbd la spbkgocgzbmGCCX aokgcgtgbs tfot hugcms ln bxgstgni gnstgtutglnoc dokfgnbry onm krbotbstgbrs tl okklddlmotb kluntrgbs wgtf mgaabrbnt kopokgtgbs. [ukf o systbddoebs usb la bxgstgni ductgcotbroc gnstrudbnts tl prlvgmb o tronsgtglnpotf arld cgqugmgty tl om`ustdbnt tl mbht rbstrukturgni mbpbnmgni ln tfbkgrkudstonkbs os agnonkgoc krgsbs bvlcvb onm dlrpf. ]fb ductgcotbroc GCCXsystbd prlplsbm gn tfgs kfoptbr wlucm occlw tfb gntbrnotglnoc agnonkgocorkfgtbkturb tl mboc wgtf kluntry agnonkgoc krgsbs gn o rlhust onm klnsgstbntwoy mbspgtb tfb typgkoc klnausgln os tl wfbtfbr cgqugmgty, om`ustdbnt, lrmbht rbstrukturgni gs nbkbssory lr suaagkgbnt tl rbslcvb tfb krgsgs.

]fb kfoptbr gs lriongzbm os alcclws. ]fb agrst sbktgln kforoktbrgzbstfb klnstrukt la GCCX, toegni tfb tromgtglnoc mlktrgnb la cbnmgni la costrbslrt gn tfb mldbstgk orbno os o stortgni plgnt. Hosbm ln tfb rbvgbw latfb cgdgtotglns la tfgs dlmbc gn tfb gntbrnotglnoc orbno, tfb sbklnm sbk-tgln prlplsbs o abosghcb GCCX arodbwlre tfot gntbirotbs cgqugmgty prlvg-sgln wgtf pltbntgoc om`ustdbnt onm mbht rbstrukturgni. ]fb tfgrm sbktglnilbs lnb stbp aurtfbr, bxpclrgni flw cbioc rbalrd tl bstohcgsf on gntbrno-tglnoc honeruptky gnstgtutgln alr slvbrbgin krbmgtlrs wlucm suhstontgoccygdprlvb GCCX kopokgty tl donoib agnonkgoc krgsbs gnvlcvgni om`ustdbnt

onm mbht rbstrukturgni. ]fb alurtf sbktgln mgskussbs tfb supplrtgni rlcbla ductgcotbroc mbvbclpdbnt hones gn on GCCX systbd. ]fb cost sbktglnprlvgmbs sldb klnkcumgni rbdores.

Dlmbcgni GCCX oatbr tfb ]romgtglnoc Mlktrgnb la Cbnmgnila Cost Xbslrt

Gt gs noturoc tl try tl dlmbc GCCX ln tfb hosgs la tfb tromgtglnoc mlktrgnb

la cbnmgni la cost rbslrt (CCX) gn tfb mldbstgk klntbxt, wfgkf mbocs wgtfhltf tfb prbvbntgln onm tfb dgtgiotgln la agnonkgoc krgsbs la mldbstgkgnstgtutglns.= Gn tfgs sbktgln, wb kforoktbrgzb tfb tromgtglnoc mlktrgnb onmtfbn mgskuss tfb cgdgtotglns la sukf o dlmbc gn tfb gntbrnotglnoc klntbxt(sbb Abrnïnmbz-Orgos 8:?: alr o dlrb mbtogcbm onocysgs).

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gntbrnotglnoc cbnmgni la cost rbslrt ;;;

]fb tromgtglnoc mlktrgnb doebs o krgtgkoc mgstgnktgln hbtwbbn cgqugmgtyonm slcvbnky krgsbs. Gn tfb kosb la o cgqugmgty krgsgs”tfot gs, o agnonkgoc krgsgsaokbm hy slcvbnt hlrrlwbrs”tfbrb gs o kllrmgnotgln prlhcbd0 tfb prlvgsgln

la nlrdoc cbnmgni wlucm rbsuct gn o pbrabktcy sotgsaoktlry lutkldb alr occ,hut pongkebm lr klnstrognbm cbnmbrs dossgvbcy wgtfmrowgni agnonkgni krbotbrboc om`ustdbnt klsts onm uctgdotbcy gnslcvbnky, tfus sbca-vocgmotgni tfb wgtf-mrowoc. ]fgs egnm la krgsgs gs ovlgmohcb. Hy klntrost, gn tfb kosb la o slcvbnkykrgsgs”tfot gs, o agnonkgoc krgsgs suaabrbm hy on gnslcvbnt hlrrlwbr”tfb dbrbmgsplsgtgln tl cbnm lr prlvgsgln la cgqugmgty hy CCX wgcc nlt rbstlrb nlr-docky onm ovlgm tfb krgsgs. Gn tfgs kosb, tfbrb gs o sgnicb krgsgs bqugcghrgud gnwfgkf tfb CCX kon fbcp lncy hy dgtgiotgni tfb om`ustdbnt klsts la gnslc-vbnky onm om`umgkotgni clssbs gn on baagkgbnt, sustognohcb woy.

]romgtglnoc Cbnmgni la Cost Xbslrt

]l lhtogn tfb mbsgrbm baabkts gn cgqugmgty krgsbs, spbbm, kbrtognty, onm plwbrorb krgtgkoc tl hrgmib tfb agnonkgoc iop onm rbdlvb tfb unworrontbm cokela gnvbstlr klnagmbnkb. Hoibflt (?69;) onm suhsbqubnt rbsborkfbrs fovbprlplsbm o nudhbr la prgnkgpcbs alr CCX alr cgqugmgty krgsbs, wfgkf kon hbsuddorgzbm os alcclws0

• Cbnm oiognst ony dorebtohcb klccotbroc vocubm ot gts vocub gn nlrdoc

tgdbs.• Cbnm gn corib odlunts (ln mbdonm) ot tbrds stbbpbr tfon dorebt

tbrds gn nlrdoc tgdbs.• Bstohcgsf tfb ohlvb prgnkgpcbs bx ontb onm oppcy tfbd outldotgkoccy.

Hbkousb cgqugmgty krgsbs orb kforoktbrgzbm hy tfb bxgstbnkb la ductgpcbbqugcghrguds (tfb illm bqugcghrgud gs ottognohcb hy ovlgmgni sbca-aucagccgnibxpbktotglns la coke la krbmgtwlrtfgnbss), tfb prgnkgpcbs la CCX orb kocg-hrotbm tl prgkbs gn nlrdoc tgdbs (tfot gs, tfb illm bqugcghrgud). Zbnocty

tbrds orb oppcgbm tl bnsurb tfot tfb kopgtoc la CCX gs nlt usbm hbylnm tfbpbrglm la agnonkgoc mgstrbss.Gn slcvbnky krgsbs, honeruptky prlkbbmgnis gnklrplrotb tfb prgnkgpcbs la

oppcgkohcb CCX, wfgkf kon hb suddorgzbm os alcclws0

• Zrlvgmb lr orronib bdbribnky agnonkgni os o sbnglr cbnmbr ln ongntbrgd hosgs (gn cgbu la cbnmgni arbbcy oiognst klccotbroc ot pbnoctytbrds) tl ovlgm tfb klstcy gntbrruptgln la lpbrotglns.

• ]bdplrorgcy suspbnm rgifts la stoebflcmbrs tl kllrmgnotb krgsgs don-oibdbnt onm mbht rbstrukturgni wfgcb tfb gnslcvbnt gnstgtutgln gs

rblriongzbm lr cgqugmotbm.• Bstohcgsf tfb ohlvb prgnkgpcbs bx ontb onm oppcy tfbd outldotgkoccy.

O proktgkoc mgaagkucty gn oppcygni tfbsb prgnkgpcbs gs mbtbrdgngni wfbtfbrtfb krgsgs gs o cgqugmgty lr o slcvbnky krgsgs. ]fb klnmgtgln la gccgqugmgty

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;;=  abrnïnmbz-orgos

dbrgts o tbdplrory mgoinlsgs, tl hb rbvbrsbm ga tfb prlvgsgln la cgqugmgtymlbs nlt prlmukb tfb bxpbktbm nlrdocgzotgln rbsucts. Gn ommgtgln tl tfbrgse la CCX agnonkgoc clssbs, tfb noturoc tbnmbnky la hbnbagkgorgbs tl ovlgm

rbstrukturgni onm hbt ln rbsurrbktgln suiibsts tfb nbbm tl brr ln tfb sgmbla koutgln.

O cbss lhvglus klst la tfb mgaagkucty la mgoinlsgni tfb typb la krgsgs gsdlroc fozorm. Dlroc fozorm gs nlt on gssub gn tfb kosb la cbnmgni gntlcgqugmgty krgsbs5 gt hbkldbs rbcbvont ga o slcvbnky krgsgs gs dgsmgoinlsbm oso cgqugmgty krgsgs (Abrnïnmbz-Orgos ?771). Dlroc fozorm wlucm ocsl ̀ ustgaybrrgni ln tfb sgmb la om`ustdbnt rotfbr tfon agnonkgni.

Oppcygni tfb ]romgtglnoc Mlktrgnb tl tfb Gntbrnotglnoc

Klntbxt 

Gn krlss-hlrmbr CCX tl slvbrbgins lr GCCX, tfb klnslcgmotbm puhcgksbktlr (gnkcumgni tfb kbntroc hone) rbpcokbs tfb mldbstgk gnstgtutgln ostfb hbnbagkgory la CCX.2 ]fb eby mgaabrbnkb hbtwbbn mldbstgk CCX onmGCCX gs tfot GCCX gs suh`bkt tl slvbrbgin rgse. [lvbrbgins orb nlt hlunmhy cows bnalrkbohcb gn alrbgin klurts. Hbkousb ductgcotbroc krbmgtlrsorb –prbabrrbm,— flwbvbr, tfb rgse alr o ductgcotbroc GCCX gs sdoccbrtfon alr ltfbr krbmgtlrs. Onltfbr mgaabrbnkb klnnbktbm tl slvbrbginty gstfot o ductgcotbroc GCCX luift tl toeb gntl okklunt gntbrnotglnoc cgne-oibs tfot doy krbotb gdplrtont rbpbrkussglns lutsgmb tfb hbnbagkgorykluntry onm flcm tfb eby tl slcvgni agnonkgoc mgstrbss gn ltfbr kluntrgbs.GCCX gntbrvbntglns gn o spbkgagk kluntry doy hb `ustgagbm hbkousb latfbgr gntbrnotglnoc spgcclvbrs5 CCX gntbrvbntglns orb hosbm lncy ln tfbnotglnoc gntbrbst.

Gn o cgqugmgty krgsgs, tfb ohlvb prgnkgpcbs klucm hb oppcgbm hy onm coribdutotgs dutonmgs. Octfluif gn klddln proktgkb slvbrbgin klccotbroc gs nltplstbm, tfb gssub gs gddotbrgoc os clni os GCCX gs oppcgbm gn tfb prbsbnkb laombquotb agnonkgoc soabiuorms (–suaagkgbnt gdpcgkgt klccotbroc—), hbkousb tfb

prlvgsgln la klccotbroc sbrvbs tfb purplsb lncy la bnsurgni tfot tfb CCXwgcc nlt suaabr agnonkgoc clssbs ot tfb bxpbnsb la tfb hbnbagkgory.

 Gn o slcvbnky krgsgs, tfb vbry klnkbpt la slcvbnky nbbms tl hb rbmbagnbm.[lvbrbgin gnslcvbnky sflucm hb gntbrprbtbm nlt os tfb ohgcgty tl poy gn oagnonkgoc sbnsb hut os wgccgninbss tl poy gn on bklnldgk sbnsb. Aurtfbr-dlrb, tfb klnkbpt la honeruptky rblriongzotgln nbbms tl hb rbmbagnbmdlrb spbkgagkoccy os tfb bklnldgk om`ustdbnt onm plcgky rbalrd nbbmbmtl rbiogn slcvbnky, wfgkf doy lr doy nlt gnkcumb tfb mbht rbstrukturgnitypgkoc gn klrplrotb honeruptkgbs. ]fbsb mgaabrbnkbs orb oriuohcy nlt aun-

modbntoc, gn tfot tfb qubstgln la flw tl mboc wgtf o slcvbnky krgsgs gn onbaagkgbnt woy”wfgkf gn tfb slvbrbgin kosb dbons opprlprgotb om`ustdbntonm mbht rbstrukturgni”rbdogns.

]fb tromgtglnoc prgnkgpcbs la GCCX orb aunmodbntoccy gnoppcgkohcb alro mgaabrbnt rbosln0 gn tfb slvbrbgin klntbxt, tfbrb gs nl bqugvocbnt tl o

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gntbrnotglnoc cbnmgni la cost rbslrt ;;2

honeruptky klmb lr o klurt tl bnsurb bnalrkbdbnt la GCCX mbtbrdgno-tglns cgdgtgni tfb prlpbrty rgifts la stoebflcmbrs. Gn tfb ohsbnkb la ohoneruptky-cgeb gnstgtutgln, bxgstgni cbnmbrs fovb tfb rgift tl acbb, wfgkf

lpbns tfb plssghgcgty tfot GCCX agnonkgni gs sgpflnbm laa (o cbnmbr‗s hogc-lut). Aurtfbrdlrb, alr tfb GCCX, gt gs mgaagkuct tl kotocyzb nbw cbnmgnign tfb ohsbnkb la irontgni sbnglrgty prltbktgln, wfgkf kldprldgsbs tfbagnonkgoc slunmnbss la tfb rbskub baalrt.1 Agnoccy, tfb GCCX konnlt pcoyo krgsgs donoibdbnt rlcb5 tfb sodb –bqugty flcmbrs onm donoibdbnt—nbbm tl hb rbtognbm.

]fb prumbntgoc rbiucotgln usbm gn tfb tromgtglnoc mlktrgnb tl cgdgtdlroc fozorm gs ocsl gnabosghcb gn tfb slvbrbgin klntbxt hbkousb launbnalrkbohgcgty. Cbnmgni klnmgtglnocgty oppbors os o noturoc suhstgtutb

(Klrmbcco onm Cbvy Wbyotg 8::2). ]fb GCCX konnlt donmotb hut konlncy omm tl wfot stoebflcmbrs oirbb tl ml ungcotbroccy (alr bxodpcb,om`ustdbnt onm rbalrd) lr unmbr hgcotbroc oirbbdbnt (alr bxodpcb, dor-ebt mbht rbstrukturgni)5 gts lncy plwbr gs tl klnmgtgln agnonkgoc supplrtln kbrtogn oktglns la stoebflcmbrs, sukf os plcgky klnmgtglnocgty (alrbxodpcb, wgtf rbspbkt tl o kluntry‗s om`ustdbnt). ]fb rlcb la GCCX gsklnstrognbm tl tfb sbcbktgvb usb la korrlts onm stgkes klnkbrngni gts lwnagnonkgni mbpbnmgni ln tfb kluntry‗s hbfovglr.

Onltfbr eby mgdbnsgln gn nbbm la omoptotgln arld tfb tromgtglnoc mlk-trgnb la CCX tl tfb gntbrnotglnoc klntbxt gs prgvotb sbktlr gnvlcvbdbnt.]fb gnohgcgty la irontgni sbnglr stotus prltbktgln tl arbsf cbnmgni gs oaunmodbntoc gdpbmgdbnt tl rbstlrgni tfb klnagmbnkb la tfb prgvotb sbktlr.GCCX klucm kotocyzb prgvotb sbktlr cbnmgni gn o agnonkgoc krgsgs wgtfgn tfbbxgstgni cbioc arodbwlre hy usgni suaagkgbntcy plwbrauc ductgcotbroc iuor-ontbbs, hut sukf o rbdbmy wlucm hb prlfghgtgvbcy rgsey onm klstcy. GCCXklucm bnkluroib kluntrgbs tl klntrokt gnsuronkb lr gnsuronkb-cgeb krbmgtcgnbs, pbrfops trgiibrgni klntgnibnt krbmgt cgnbs wfbn GCCX okts, hut mlgnisl wlucm rbqugrb tfb kluntry‗s wgccgninbss tl poy o suhstontgoc up-arlntprbdgud (sbb Abrnïnmbz-Orgos 8::9).

Gdpbmgni kopgtoc lutaclws doy hb o dlrb baabktgvb woy la sbkurgniommgtglnoc agnonkgni. ]fb Hrbttln Yllms systbd klnkbgvbm tfb usb lakopgtoc klntrlcs tl mboc wgtf kopgtoc aclws prbkgsbcy tl bnsurb tfot kopgtocdlhgcgty wlucm nlt prlvleb agnonkgoc krgsbs (Agskfbr ?777). Gnsuronkb-cgebklntrlcs ln kopgtoc lutaclws trgiibrbm hy kbrtogn oirbbm-upln bvbnts gnagnonkgoc dorebts, sukf os o ibnbrocgzbm –summbn stlp— kbrtgagbm hy tfbGCCX, klucm ocsl hb stgpucotbm klntroktuoccy onm hb port la tfb sbt la tllcsusbm tl hogc gn prgvotb krbmgtlrs gn gdpcgkgt agnonkgoc krgsbs. La klursb, hbgnidorebt argbnmcy, gt wlucm ocsl bntogc on gnsuronkb prbdgud klst.9 

Gn occ kosbs, GCCX nbbms tl hb bxpbmgtglus. ]fb nbbm alr spbbm gs bxpcgkgtgn tfb kosb la prbvbntgni o cgqugmgty krgsgs arld mbvbclpgni gntl o slcvbnkykrgsgs. [pbbm gs ocsl krgtgkoc gn tfb kosb la om`ustdbnt onm rbstrukturgni tlprbvbnt tfb bklnldy arld stoccgni alr coke la on ombquotb orronibdbntodlni stoebflcmbrs.

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;;1  abrnïnmbz-orgos

Alur unbqugvlkoccy mbsgrohcb kforoktbrgstgks la o abosghcb GCCX orb sgdg-cor tl tflsb gnspgrgni tfb tromgtglnoc mlktrgnb06

• Zlwbr”sgzohcb supplrt tfot gs suaagkgbnt tl dbbt sflrt-tbrd agnonkgoclhcgiotglns onm prbvbnt o klccopsb (la bgtfbr mbdonm lr suppcy) gn ocgqugmgty krgsgs lr gnbaagkgbnt om`ustdbnt gn o slcvbnky krgsgs

• [pbbm ”tgdbcy, gddbmgotb mgshursbdbnts tl prbvbnt krgsbs rotfbrtfon kurb tfbgr klnsbqubnkbs lr, ga ocrbomy unmbr woy, dgtgiotb onmrbslcvb tfbd ot dgngdud klst

• Kbrtognty”outldotgk (nlnmgskrbtglnory) agnonkgoc ossgstonkb okklrm-gni tl prborronibm dbkfongsds onm klnmgtglns wgtf on ombquotbrbpoydbnt pbrglm tl dotkf bxtrolrmgnory agnonkgoc nbbms (unkbr-

tognty unmbrdgnbs klnagmbnkb tfot tfb GCCX wgcc ml gts `lh onm als-tbrs krgsbs)• Alkus”clw lr nl klddgtdbnt abb, tl gnkbntgvgzb tfb prbvbntgvb usb

la tfb aokgcgty, onm suhstontgoc kforibs ln mbcgvbry wgtflut prbpoy-dbnt gdpbmgdbnts, tl mgsgnkbntgvgzb tfb usb la aokgcgtgbs lutsgmb oagnonkgoc krgsgs.

Alur mgstgnktgvb kforoktbrgstgks la o abosghcb GCCX dust hb hlrnb gndgnm0

• Agnonkgoc soabiuorms. Gn tfb ohsbnkb la oktuoc klccotbroc lr cbioc sbnglrkrbmgtlr stotus, GCCX agnonkgoc soabty nbbms o sotgsaoktlry kluntryrgse ossbssdbnt.

• Kotocytgk oktgln. Gn tfb ohsbnkb la on gntbrnotglnoc cgqugmgty gssubronm o honeruptky arodbwlre tl iront sbnglrgty tl arbsf dlnby, oplwbrauc GCCX aunktgln doy nbbm (prborronibm) agnonkgoc klccohlro-tgln wgtf laagkgoc cbnmbrs onm prgvotb sbktlr tl klnagiurb o klfbrbntonm suaagkgbntcy corib gntbrgd agnonkgoc krgsgs pokeoib.

• Zrumbntgoc klnmgtglnocgty. Gn tfb ohsbnkb la cbioccy hgnmgni prumbn-

tgoc rbiucotgln, tfb GCCX nbbms tl rbslrt tl sotgsaoktlry prglr kldpcg-onkb wgtf prumbntgoc klnmgtglnocgty.• Om`ustdbnt (onm mbht-rbstrukturgni) klnmgtglnocgty. Gn tfb ohsbnkb la

on bnalrkbohcb honeruptky systbd tl rblriongzb stoebflcmbrs‗ kcogdsgn on baagkgbnt donnbr, tfb GCCX nbbms ossuronkbs arld kluntrgbs onmcbnmbrs tfot slcvbnky-rbcotbm klnmgtglnocgty wgcc hb aucagccbm.

On Gntbirotbm [ystbd la Gntbrnotglnoc Cbnmbrs la Cost Xbslrt

Gn klntrost tl mldbstgk cbioc prlvgsglns, slvbrbgin klnmgtglnocgty konnlthb bnalrkbm. ]fb systbd tfbrbalrb nbbms tl mbagnb wfot tl ml ga o klnmg-tglnocgty gs nlt dbt lr wgcc cgebcy nlt hb dbt tl on okkbptohcb stonmorm. ]l

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gntbrnotglnoc cbnmgni la cost rbslrt ;;9 

tfb bxtbnt tfot tfb aucagccdbnt la kbrtogn prbrbqugsgtbs gs krgtgkoc alr sukkbss-auccy ommrbssgni o agnonkgoc krgsgs, tfb GCCX nbbms tl mbagnb stonmorms alrkluntry bcgighgcgty.

]fb nbbm alr prumbntgoc onm om`ustdbnt klnmgtglnocgty doy gnvlcvbhltf bx ontb klnmgtglns la bcgighgcgty onm bx plst klnmgtglns la opprlvoctfot mbsbrvb kclsbr bxodgnotgln. Klnmgtglnocgty ln bklnldgk om`ustdbnt,plcgky rbalrd, onm mbht rbstrukturgni wlucm stgpucotb tfb nbbmbm klnmg-tglns tl rbslcvb o slcvbnky krgsgs. Hbkousb bx plst klnmgtglnocgty gdpcgbsnbiltgotgni klnmgtglns la opprlvoc tfot klccgmb wgtf tfb prgnkgpcbs la spbbmonm kbrtognty, gt sflucm hb usbm lncy wfbn tfb rbqugrbm om`ustdbnt lr mbhtrbstrukturgni wlucm ltfbrwgsb hb bxpbktbm tl hb ginlrbm lr mbcoybm onmtfb slcvbnky krgsgs cbat tl mroi ln. Zrumbntgoc klnmgtglnocgty gs la cgttcb baabkt

wfbn oppcgbm bx plst, oatbr tfb flrsb fos cbat tfb horn. Klnmgtglnocgty gshbttbr oppcgbm bx ontb gn cgbu la dgssgni rbiucotgln onm honeruptky klmbs.]fbrbalrb, GCCX wlucm gmboccy mbagnb stonmorms alr bcgighgcgty prbklnmg-tglns tl tfb doxgdud bxtbnt plssghcb.

Bx ontb kluntry bcgighgcgty”ln tfb hosgs la prbsbt klnmgtglns la kluntrybklnldgk fboctf, os dbosurbm hy tfb slunmnbss la aunmodbntocs, tfb quoc-gty la tfb plcgkgbs gn pcokb, onm tfb mbirbb la klddgtdbnt tl sustogn tfbd,gnkcumgni klnmgtglns pbrtogngni tl ductgcotbroc agnonkgoc soabty”klvbrshltf prumbntgoc klnmgtglns onm klnmgtglns rbcotbm tl bklnldgk om`ustdbntlr rbstrukturgni. O plcgky arodbwlre ogdbm ot prldltgni stohgcgty onmquocgty om`ustdbnt klucm gnkcumb tfb alcclwgni aboturbs0

• Arodbwlres alr agnonkgoc systbd stohgcgty hosbm ln gntbrnotglnocstonmorms

• Zrumbnt dokrlbklnldgk cgqugmgty plcgkgbs, sukf os clw sflrt-tbrdmbht7

• Zrumbnt agskoc plcgkgbs, sukf os agskoc rucbs klnsgstbnt wgtf agskoc onmpuhcgk mbht sustognohgcgty

• [lunm dlnbtory, agskoc, onm bxkfonib rotb plcgky rbigdbs tl

rbsplnm baagkgbntcy tl sflkes• Klnstruktgvb rbcotglns wgtf laagkgoc onm prgvotb cbnmbrs onm gnvbstlrs.

Igvbn tfb bcbdbnt la slvbrbgin kluntry kflgkb gn GCCX, sbttgni klnmg-tglns, bgtfbr bx ontb lr bx plst, gs aor arld bqugvocbnt tl sbttgni cbioccybnalrkbohcb rbiucotgln lr honeruptky arodbwlres. ]fb dlst aovlrohcbkosb gs lnb gn wfgkf tfb kluntry‗s aunmodbntocs onm plcgky arodbwlrekldpcy wgtf mbsgrbm prumbntgoc stonmorms onm orb sl strlni tfot tfb klun-try kon hb prbsudbm tl hb wgccgni onm ohcb tl rbokt opprlprgotbcy tl omvbrsb

sflkes outlnldluscy. Gn tfgs kosb, tfb GCCX klucm mgspbnsb wgtf unmb-sgrohcb bx plst klnmgtglnocgty. ]fgs sgtuotgln gs oriuohcy tfb kosb la tfbrbkbntcy bstohcgsfbm acbxghcb krbmgt cgnb (AKC), wfgkf gs hosbm bntgrbcy ln bxontb klnmgtglns la bcgighgcgty. ]fb AKC gs o suhstontgoc gdprlvbdbnt lvbrgts prbmbkbsslrs onm gn dony woys on opprlxgdotgln tl tfb prgnkgpcbs la o

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abosghcb GCCX lutcgnbm ohlvb. Flwbvbr, gt gs ovogcohcb tl lncy tfb strlnibstkluntrgbs. Ga bcgighgcgty klnmgtglns orb suaagkgbntcy strgkt, o corib nudhbr lakluntrgbs wlucm kfllsb tl rbdogn lutsgmb tfb systbd rotfbr tfon rbalrd

tl dbbt tfb stonmorm, sldbtfgni tfot gs nlt klnsgstbnt wgtf o sotgsaoktlryGCCX systbd.

Alr occ tfb hbnbagts hrluift hy prlvgmgni gnkbntgvbs tl kluntrgbs tlgdprlvb tfbgr aunmodbntocs onm plcgky arodbwlres tl o fgif stonmormgn bxkfonib alr GCCX quocgagkotgln, tfbrb gs tfb klst la mbnygni GCCX tlkluntrgbs okfgbvgni clwbr stonmorms. Hbkousb o auccy plwbrauc GCCX nbbmstl hb fgifcy sbcbktgvb gn tbrds la toribt kluntrgbs, gt wlucm cbovb dlstkluntrgbs unprltbktbm5 flwbvbr, on GCCX prltbktgni dlst kluntrgbs wlucmlaabr unnbkbssorgcy clw prltbktgln tl wbcc-mbsbrvgni kluntrgbs. O dbnu la

aokgcgtgbs kotbrgni tl kluntrgbs‗ kopokgtgbs gs tfus nbbmbm tl prlvgmb tfb hbstprltbktgln lvbrocc.

Ot tfb sodb tgdb, GCCX aboturbs mbpbnm ln tfb typb la sflke. Ot lnbbxtrbdb”tfb kosb la o iclhoc cgqugmgty krgsgs”o wgmbcy ovogcohcb GCCX(suh`bkt tl hosgk agnonkgoc soabiuorms onm plssghcy klnmgtglnbm ln gntbrno-tglnoccy argbnmcy plcgkgbs) klucm irbotcy hbnbagt dlst kluntrgbs, bvbn ga tfbgrplcgky arodbwlres orb suhstonmorm, ot cbost ga tfby ml nlt rbqugrb suhston-tgoc om`ustdbnt tl tfb sflke, os gs typgkoccy tfb kosb. Gn tfgs kosb, tfb klstsla bxkcusgln orb suhstontgoc. Ot tfb ltfbr bxtrbdb”tfb kosb la o agnonkgockrgsgs gn on gnmgvgmuoc kluntry, plssghcy prldptbm hy klnkbrns ohlut gtsaunmodbntocs onm plssghcy rbqugrgni om`ustdbnt”strgnibnt stonmorms alrbcgighgcgty doy hb nbbmbm tl bnsurb tfot tfb rbslurkbs orb usbm baabktgvbcy tlslcvb tfb unmbrcygni prlhcbds. Gn tfgs kosb, fgifbr stonmorms orb nbbmbm.

]fb upsflt gs tfot o abosghcb GCCX, mbsginbm tl ommrbss ony typb la sflkeibnbrotgni o agnonkgoc nbbm, dust hb hosbm ln ibnbrgk bcgighgcgty prbklnmg-tglns onm dgngdoc strukturb. ]fb AKC gs o pbrabkt bxodpcb. Alr o iclhoccgqugmgty sflke, sukf os tfb ibnbrocgzbm –summbn stlp— tl bdbrigni dorebtsoatbr tfb Xussgon krgsgs, AKC stonmorms lr tfb bcgighgcgty klnmgtglns kgtbmohlvb wlucm hb tll strgnibnt. ]fb rbkbnt iclhoc agnonkgoc krgsgs kodb kclsb

tl tfot sgtuotgln. Gn aokt, tfb bklnldgk mlwnturn gn mbvbclpgni kluntrgbswos strlnicy osslkgotbm wgtf tfb cgqugmgty prlagcb la tfb kluntrgbs‗ cgohgcg-tgbs (Hconkform, Aoruqubb, onm Mos 8:?:). Alr dlst kluntrgbs, stonmormswboebr tfon tflsb rbqugrbm alr on AKC wlucm fovb hbbn bnluif alr suk-kbssauc GCCX. Ot tfb sodb tgdb, alr o abw kluntrgbs, tfb iclhoc rbkbssgln tfotalcclwbm tfb krgsgs oaabktbm tfbd sl sbvbrbcy tfot tfby orb nlw gn nbbm lasuhstontgoc om`ustdbnt onm pbrfops mbht rbstrukturgni, wfgkf doy rbqugrbbx plst klnmgtglnocgty.

Gn suddory, bcgighgcgty klnmgtglns onm lpbrotglnoc kforoktbrgstgks la

GCCX luift tl hb klntgnibnt ln tfb typb la sflke lr agnonkgoc krgsgs gnlrmbr tl ovlgm gnopprlprgotb lr bxkbssgvb klnmgtglnocgty. O nlnklntgn-ibnt GCCX gs hlunm tl cbom tl rgigm, bxkbssgvb klnmgtglnocgty gn tfb kosbla wgmbsprbom cgqugmgty sflkes la tfb egnm sbbn rbpbotbmcy gn tfb nbwiclhoc agnonkgoc bklnldy. O auccy arlnt-clombm GCCX gs hlunm tl hb vbrysbcbktgvb onm rbqugrb bxkbssgvbcy strlni bcgighgcgty, cbovgni lut kluntrgbs

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gntbrnotglnoc cbnmgni la cost rbslrt ;;7

tfot o wboebr GCCX wgtf dlrb bx plst klnmgtglnocgty doy fbcp.?: Yfot gsnbbmbm gs on gntbiroc systbd la spbkgocgzbm aokgcgtgbs tfot rbacbkt tfb typb laklntgnibnky prldptgni tfb agnonkgoc krgsgs onm occlw alr o tronsgtgln potf

os kluntry kgrkudstonkbs kfonib, sl tfot tfb systbd prlvgmbs opprlprgotbtrbotdbnt tl kluntrgbs ot occ tgdbs. [ukf o systbd doy clle kldpcbx, huto sgdpcbr systbd gs hlunm tl hb gnbaabktgvb, gn tbrds la prltbktgln plwbr,kluntry klvbroib, lr hltf.

Abrnïnmbz-Orgos, Zlwbcc, onm Xbhukkg (8::7) irlup bklnldgbs rbqugr-gni GCCX gntl tfrbb kotbilrgbs0

• Bklnldgbs wgtf lncy cgqugmgty prlhcbds, wfbrb cgttcb lr nl om`ust-dbnt gs nbbmbm

• Bklnldgbs gn wfgkf om`ustdbnt onm rbalrd orb nbbmbm tl rbiognslcvbnky hut mbht rbstrukturgni gs nlt bxpbktbm• Bklnldgbs tfot rbqugrb hltf om`ustdbnt onm mbht rbstrukturgni tl

rbiogn slcvbnky.

Gn wfot alcclws, G mbskrghb tfb spbkgocgzbm aokgcgtgbs bnvgsglnbm alr tfbsbtfrbb typbs la sgtuotglns.?? G prlplsb on gntbirotbm systbd la spbkgocgzbmGCCXs lr pgccors, bokf mbsginbm tl ommrbss o typb la agnonkgoc krgsgs lr kln-tgnibnky onm strukturbm gn tgbrs tl okklddlmotb kluntrgbs‗ klnmgtglns onmkopokgtgbs. Rppbr tgbrs, wgtf dlrb strgnibnt bcgighgcgty rbqugrbdbnts, bntogc

strlnibr outldotgk supplrt onm wboebr bx plst klnmgtglnocgty.?8 Yfbnlnb lr dlrb la tfb klntgnibnkgbs gs trgiibrbm, bokf kluntry wlucm fovbokkbss tl tfb GCCX aokgcgtgbs gn gts tgbr. Kbrtgagkotgln la tfb rgift klntgnibnkybntogcs o ̀ umidbnt tfot doy hb gdpogrbm hy plcgtgkoc bklnldy rboslns ga gtgs nlt hosbm ln lh`bktgvb gnmgkotlrs. ]l tfb bxtbnt plssghcb, lh`bktgvb gnmg-kotlrs wlucm tfbrbalrb sbrvb os prbsudptgvb bvgmbnkb la tfb klntgnibnkytrgiibrs, horrgni bxpcgkgt kluntbrvogcgni `ustgagkotgln.

Cgqugmgty Aokgcgty

Lnb gdplrtont klntgnibnky tfot dbrgts spbkgoc trbotdbnt gs wgmbsprbomcgqugmgty turdlgc lr o ibnbrocgzbm summbn stlp, wfgkf klucm hb kbrtgagbmhy tfb GCCX ln tfb hosgs la gnmbxbs sukf os tfb lvbrocc Bdbrigni Dor-ebts Hlnm Gnmbx. ]fgs cgqugmgty aokgcgty, wfgkf wlucm hb oktgvotbm hy osystbdgk cgqugmgty krunkf, os dbosurbm hy tfbsb gnmbxbs, wlucm cghbroccyprlvgmb agnonkgni ln on bdbribnky hosgs. O hosgk tgbr, wgtf dgngdoc bcg-ighgcgty rbqugrbdbnts, wlucm klvbr occ kluntrgbs gn illm stonmgni (tfotgs, kluntrgbs tfot orb gnvlcvbm gn GDA Ortgkcb GQ klnsuctotglns onm nlt gn

orrbors), irontgni tfbd outldotgk okkbss tl kbrtogn qultos (ot stbbp rotbstl mgskluroib unnbkbssory usb la skorkb aunms bxkbpt alr tfb bdbribnkyot fonm). O fgifbr tgbr, wgtf ommgtglnoc bcgighgcgty rbqugrbdbnts rbcotbm tlslcgm aunmodbntocs onm plcgky arodbwlre (onm clw ductgcotbroc krbmgtrgse), wlucm skrbbn lut kluntrgbs ot rgse la mbvbclpgni slcvbnky prlhcbds(Abrnïnmbz-Orgos onm Fousdonn 8::8). Kluntrgbs gn tfgs tgbr wlucm fovb

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okkbss tl coribr odlunts la agnonkgni up arlnt. Kluntrgbs ohcb tl pcbmibdorebtohcb gntbrnotglnoc klccotbroc (alr bxodpcb, slvbrbgin wboctf aunmossbts) klucm rbkbgvb ommgtglnoc cgqugmgty. ]fb bstohcgsfdbnt la tfgs cgqugm-

gty aokgcgty wlucm rbmukb on gnmgvgmuoc kluntry‗s gnkbntgvbs tl okkuducotbbxkbssgvb gntbrnotglnoc rbsbrvbs os sbca-gnsuronkb, o proktgkb tfot gs agnon-kgoccy klstcy onm systbdgkoccy mbstohgcgzgni.?;

Gntbrnotglnoc agnonkgoc soabty nbts aogc tl prltbkt oiognst o ibnbrocgzbmcgqugmgty krgsgs0 aokgcgtgbs orb dlstcy iborbm tlworm tfb plssghcb nbbm alrom`ustdbnt gn gnmgvgmuoc kluntrgbs rotfbr tfon tfb cghbroc prlvgsgln laagnonkgni gn tfb bvbnt la o systbdgk cgqugmgty krunkf. ]fb rbkbnt iclhocrbkbssgln iovb rgsb tl tfb AKC, wfgkf prlvgmbs unklnmgtglnoc agnonkgni tlo fonmauc la kluntrgbs hut gs nlt spbkgagkoccy mbsginbm tl ommrbss cgqugmgty

krgsbs. ]fb dogn nlvbcty la tfb prlplsbm cgqugmgty aokgcgty cgbs gn gts ohgcgtytl prlvgmb wgmbsprbom outldotgk agnonkgoc supplrt trgiibrbm hy lh`bktgvbgnmgkotlrs la o systbdgk cgqugmgty krgsgs.

Gt gs mgaagkuct tl oskbrtogn wfbtfbr o agnonkgoc krgsgs kon hb slcvbm slcbcyhy prlvgmgni cgqugmgty5 octfluif gt doy hb wlrtfwfgcb trygni tfgs nln-gnvosgvb rbklursb, tfb cgqugmgty aokgcgty luift tl klnsgmbr tfb plssghgcgtytfot gt doy aogc tl slcvb tfb krgsgs onm tfot slcvbnky strbnitfbngni doy hbrbqugrbm. Yboe agskoc sustognohgcgty gnmgkotlrs wlucm gnalrd sukf o prb-sudptgln. Ga cgqugmgty gs nlt tfb slcutgln, om`ustdbnt wgcc hb nbbmbm.

Om`ustdbnt Aokgcgty

G stort wgtf tfb kosb gn wfgkf mbht sustognohgcgty gnmgkotlrs suiibst tfotom`ustdbnt onm rbalrd wgcc hb suaagkgbnt tl bnsurb slcvbnky, sl tfot nlmbht rbstrukturgni gs bxpbktbm. Mgsrbiormgni tfb nbbm alr mbht rbstruktur-gni rbqugrbs o dgngdud stonmorm la aunmodbntocs onm plcgky arodbwlrekldpotghcb wgtf tfb cbvbc la gnmbhtbmnbss. Ot lnb bxtrbdb, tfb om`ustdbntaokgcgty klucm gnkcumb o tlp tgbr gn tfb spgrgt la tfb AKC, mbsginbm alr onyomvbrsb sflke onm irontgni odpcb agnonkgoc supplrt lncy ln tfb hosgs

la strlni prbklnmgtgln rbqugrbdbnts, wgtf nl bx plst klnmgtglnocgty. Oclwbr tgbr klucm hb ovogcohcb tl occ kluntrgbs bxkbbmgni sldb sotgsaoktlrystonmorm la aunmodbntocs onm plcgky arodbwlre os on bcgighgcgty rbqugrb-dbnt. ]fgs tgbr wlucm aboturb dlrb cgdgtbm outldotgk supplrt up arlnt onmkldpcbdbntory bx plst klnmgtglnocgty klnkbrngni bklnldgk om`ustdbntonm plcgky rbalrd (ocwoys unmbr tfb bxpbktotgln tfot mbht rbstrukturgniwgcc nlt hb nbbmbm). Dlrb tfon lnb clwbr tgbr klucm hb krbotbm, wgtf tfbcbvbc la tfb outldotgk up-arlnt supplrt mbpbnmbnt ln tfb strgktnbss latfb bcgighgcgty rbqugrbdbnts. ]fgs tgbrbm opprlokf fos tfb omvontoib la

prlvgmgni hrbotfgni spokb tl dlst kluntrgbs nlt quocgaygni alr tfb tlptgbr tl rbkbgvb outldotgk supplrt up arlnt onm tfbn sbodcbsscy orronib otromgtglnoc stohgcgzotgln prlirod wgtf bx plst klnmgtglnocgty.

Om`ustdbnt aokgcgtgbs fovb domb klnsgmbrohcb prlirbss gn gnkrbosgniokkbss tl o agrst unklnmgtglnoc tronkfb alr prbsbcbktbm bcgighcb kluntrgbs.

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gntbrnotglnoc cbnmgni la cost rbslrt ;=?

]fb mbhotb lvbr flw tl alrdocgzb prbkoutglnory klntgnibnt cgnbs tlsuppcbdbnt tfb AKC oppbors tl plgnt gn tfgs mgrbktgln la kldhgngniup-arlnt agnonkgoc supplrt wgtf bx plst klnmgtglnocgty. ]fgs prlplsoc sup-

plrts tfgs trbnm onm fgifcgifts tfb gdplrtonkb la o tgbrbm strukturb alrsukf aokgcgtgbs.

]fb systbd doy ocsl klnsgmbr spbkgagk klntgnibnkgbs tfot wlucm trgi-ibr ommgtglnoc cbnmgni ln tlp la tfb prbvglus aokgcgtgbs. Alr bxodpcb, osuppcbdbntory aokgcgty doy hb osslkgotbm wgtf klntgnibnkgbs gn wfgkf tfbprbmldgnont sflke gs bxlibnlus tl tfb kluntry gn qubstgln (alr bxodpcb,o klccopsb gn tbrds la tromb). ]fgs aokgcgty klucm igvb okkbss tl ommgtglnocup-arlnt mrowgni rgifts, tl mgstgniugsf gt arld tfb kosb gn wfgkf tfb agnon-kgoc krgsgs gs trgiibrbm hy gntbrnoc bvbnts dlrb cgebcy osslkgotbm wgtf on

gnombquotb plcgky arodbwlre. [ukf o aokgcgty wlucm rbklingzb tfot unmbrtfgs klntgnibnky, bx plst klnmgtglnocgty gs prlhohcy cbss nbkbssory alr tfbkluntry tl ombquotbcy om`ust tl tfb sflke. ]fb nbw bcbdbnt tfgs prlplsochrgnis tl tfgs plgnt gs tfot aokgcgtgbs nbbm tl hb mbsginbm nlt lncy alr klun-trgbs‗ kopokgtgbs hut ocsl alr tfb typb la sflke cbomgni tl agnonkgoc nbbm. Laklursb, aokgcgtgbs spbkgocgzbm gn spbkgagk klntgnibnkgbs cgeb tfgs klucm ocslhb lriongzbm gn tgbrs.

Yfbtfbr mbht rbstrukturgni gs nbbmbm tl rbiogn slcvbnky gs mgaagkuct tloskbrtogn, hut gt usuoccy hbkldbs kcborbr os gnalrdotgln ln om`ustdbntpbralrdonkb kldbs gn onm tfb dorebt rbokts tl tfb kluntry‗s mbvbclp-dbnts. Ga tfb dorebt bxpbkts mbht rbstrukturgni, gt gs porodlunt tl dlvbqugkecy, hbalrb tfb agnonkgoc sgtuotgln unrovbcs. Gn proktgkb, mbht rbstruk-turgni usuoccy toebs tll clni tl hb gdpcbdbntbm. O ductgcotbroc aokgcgty gstfbrbalrb nbbmbm tl fbcp kluntrgbs wgtf unsukkbssauc om`ustdbnt prlirodstl tronsgtgln tl mbht rbstrukturgni.

Mbht-Xbstrukturgni Aokgcgty

O mbht-rbstrukturgni aokgcgty gs nbbmbm. Mbht rbstrukturgni onm –hone-

ruptky prltbktgln— doy hb trgiibrbm hy kluntrgbs osegni alr prltbktglnarld tfb GCCX oiognst cbnmbrs onm ltfbr kcogdonts (onm ot tfb sodb tgdbrbcgnqugsfgni okkbss tl tfb ltfbr aokgcgtgbs). Latbn, flwbvbr, kluntrgbs gnkurklstcy mbcoys gn rbstrukturgni tfbgr mbht. Yboe mbht sustognohgcgty gnmgko-tlrs onm o nbiotgvb rbvgbw la tfb prlspbkts la sbnsghcb om`ustdbnt onmrbalrd tl ovlgm mbht rbstrukturgni unmbr tfb prbvglus aokgcgtgbs wlucm ocslprldpt o swgtkf tl tfgs aokgcgty.?=

 Bcgighgcgty alr tfgs aokgcgty luift tl hb os wgmb os plssghcb, cbovgni lutlncy kluntrgbs unohcb tl wlre unmbr ductgcotbroc GCCX rucbs (alr bxodpcb,

kluntrgbs sbvbrbm arld Ortgkcb GQ klnsuctotglns). Rnmbr tfgs aokgcgty, tfb GCCXwlucm bstohcgsf wfbtfbr mbht rbstrukturgni gs nbbmbm onm donoib gntbrgdagnonkgni, om`ustdbnt, onm mbht rbstrukturgni usgni tfb plwbr la klnmgtgln-ocgty. ]fb kbrtgagkotgln tfot mbht rbstrukturgni gs `ustgagbm onm unmbr woywlucm odlunt tl o mbkcorotgln la –bxkusohcb mbaouct— (Irlssdon onm Qon

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Fuyke ?766), wfgkf wlucm rbmukb tfb rbputotglnoc klst la nlnpoydbnt lrbdbribnky klntrlcs ln kopgtoc lutaclws lr bvbn bcgdgnotb tfbsb klsts ga tfbsboktglns orb port la GCCX klnmgtglnocgty.

]fb nlvbcty la tfgs aokgcgty gs tfot gt hrgnis mbht rbstrukturgni unmbrtfb GCCX udhrbcco onm mbocs wgtf gt hy agnonkgni o `ustgagbm mbht wlrelutrotfbr tfon prbtbnmgni tfot om`ustdbnt gs ocwoys o abosghcb slcutgln tlrbiogn slcvbnky onm cbovgni gt tl tfb dorebt tl slrt lut gnslcvbnky ga gt gsnlt. ]fgs prlplsoc koccs alr o rbklnsgmbrotgln la tfb mbhotb tfot cbm tl tfbohonmlndbnt la tfb [lvbrbgin Mbht Xbstrukturgni Dbkfongsds ([MXDs)onnlunkbm hy tfb GDA gn 8::?, tfgs tgdb gn tfb klntbxt la on GCCX kbrtgay-gni onm agnonkgni o `ustgagbm mbht wlrelut.

Gdpcbdbntgni tfb GCCX [ystbd

O proktgkoc systbd la GCCXs nbbms tl klnarlnt o nudhbr la proktgkocgdpcbdbntotgln prlhcbds. Lnb kcoss la prlhcbds fos tl ml wgtf plcgtg-koc prbssurbs ln tfb GCCX tl hb dlrb acbxghcb wgtf kbrtogn kluntrgbs wgtfplcgtgkoc kclut. Gn tfgs rbiorm, bcbdbnts la outldotgkgty onm lh`bktgvgty”rucbs rotfbr tfon rlld alr mgskrbtgln”orb fbcpauc (Lhstabcm 8::7). Oportgkucorcy mgaagkuct prlhcbd la tfgs noturb gs flw tl mgsquocgay o kluntrytfot kbosbs tl kldpcy wgtf bcgighgcgty krgtbrgo (alr bxodpcb, on AKC kluntryoatbr o nbiotgvb sbdgonnuoc rbvgbw). Octfluif tfb sginocgni vocub la sukfmbtbrdgnotgln gs unovlgmohcb, tfb iromuoc rbdlvoc la prgvgcbibs (alr bxod-pcb, tfrluif clwbr kops, stbbpbr kforibs, lr hltf) doy fbcp tfb tronsgtgln.]fb tgbrbm opprlokf prlplsbm klucm ocsl fbcp slcvb tfb prlhcbd la bxgt lrmgsquocgagkotgln hy prlvgmgni o sdlltfbr tronsgtgln tl o clwbr tgbr.

Onltfbr prlhcbd tfot fos pcoiubm tfgs egnm la aokgcgty gs tfb stgido la`lgngni o prlirod mbsginbm tl prlvgmb bdbribnky agnonkgni. Abor la sginoc-gni wboenbss hy mlgni sl cbm tl tfb tltoc aogcurb la tfb Klntgnibnt KrbmgtCgnb (KKC) onm suhsbqubnt prbmbkbsslrs la tfb AKC, occ la wfgkf klucmltfbrwgsb fovb prbvbntbm krgsbs, tl ottrokt kcgbnts. Octfluif tfb AKC gs hy

mbsgin okkbssghcb tl o sbcbkt irlup, wfgkf fbcps rbmukb tfb stgido prlh-cbd, onm fos ottroktbm tfrbb kluntrgbs (Klcldhgo, Dbxgkl, onm Zlconm),kluntrgbs wgtf tfb strlnibst plcgky arodbwlres fovb nlt `lgnbm, onm gt gsnlt kcbor tfot tfb stgido gssub fos hbbn lvbrkldb. Kurrbntcy, kluntrgbs orbklnagmbntgoccy gnvgtbm tl doeb on gnalrdoc oppcgkotgln wflsb rbsuct wlucmhb klddungkotbm prgvotbcy, sl tfot tfbrb gs nl clss la rbputotgln ottokfbmtl hbgni rb`bktbm (uncbss tfbrb gs o cboe ot sldb plgnt gn tfb prlkbss).Flwbvbr, uncbss tfb strlnibst kluntrgbs mbkgmb tl oppcy, tfgs systbd occlwstfb stgido prlhcbd tl pbrsgst. O systbd onnlunkgni tfb krgtbrgo usbm alr

bcgighgcgty wlucm gnspgrb dlrb klnagmbnkb onm prlhohcy hb on gdprlvbdbnt,hut gt wlucm nlt kfonib tfb aokt tfot tfb strlnibst kluntrgbs wlucm stgccprbsudohcy nlt portgkgpotb. On octbrnotgvb, tronsporbnt systbd wlucmhb tl laagkgoccy prlmukb onm mgskclsb o cgst la bcgighcb kluntrgbs”tfot gs,prbquocgay kluntrgbs ungcotbroccy”doegni surb tfot tfb strlnibst kluntrgbs

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gntbrnotglnoc cbnmgni la cost rbslrt ;=;

orb gnkcumbm. Hy prloktgvbcy prlmukgni tfb cgst la bcgighcb kluntrgbs gn bokftgbr hosbm ln sbt krgtbrgo, tfgs octbrnotgvb wlucm rbmukb lr bcgdgnotb tfbstgido prlhcbd. [ukf o systbd wlucm ocsl, flwbvbr, puhcgkcy gmbntgay

kluntrgbs unquocgagbm alr bokf tgbr, suiibstgni tfot, octfluif supbrglr tltfb kurrbnt systbd, gt wlucm nlt hb unongdluscy okkcogdbm.

O eby rbosln wfy kluntrgbs fovb fgstlrgkoccy nlt rbcgbm ln tfbsb aokgcgtgbsgs dgstrust tfot wfbn aunms orb nbbmbm, tfbrb klucm hb o cost-dgnutb gdpbmg-dbnt tl mgshursbdbnt opprlvoc, o cost-dgnutb pusf tl bxtrokt (pbrfopsbxtronblus) klnmgtglnocgty. Zrbsbt bcgighgcgty alr outldotgk up-arlnt supplrtalr bvbry GCCX tgbr wlucm bcgdgnotb dukf la tfgs wlrry alr bcgighcb kluntrgbs(bssbntgoccy alr occ kluntrgbs ga prbquocgagkotgln alr bcgighgcgty wbrb prlok-tgvb). Nbvbrtfbcbss, unkbrtognty ohlut bx plst klnmgtglnocgty wlucm pbrsgst.

]fb nbw tlp-tgbr AKC, hosbm bxkcusgvbcy ln bx ontb klnmgtglnocgty onm nlommgtglnoc oktgvotgln kcousb, slcvbs tfgs prlhcbd alr tfb fonmauc la kluntrgbsbcgighcb alr gt. Flwbvbr, bvbn kluntrgbs bcgighcb alr o AKC doy dgstrust tfbkrgtbrgo tfot wlucm hb usbm alr rbkbrtgagkotgln bvbry sgx dlntfs onm hb kln-kbrnbm ohlut clsgni tfbgr quocgagkotgln. Mbspgtb ommbm acbxghgcgty gn tfb sbt-tgni onm vbrgagkotgln la klnmgtglnocgty, gnbcgighcb kluntrgbs stgcc aokb dlst latfb sodb unkbrtogntgbs la tfb post. ]rust kon hb hugct hy gnkrbosgni tronspor-bnky onm gnklrplrotgni trustbm gnstgtutglns gntl tfb prlkbss (o plssghcb rlcbalr ductgcotbroc mbvbclpdbnt hones onm ltfbr ductgcotbroc gnstgtutglns).

Xomgkoc Xbalrd tl GCCX0 Gntbrnotglnoc HoneruptkyArodbwlre onm [lvbrbgin Mbht Xbstrukturgni

]fb ohsbnkb la stgpucotbm onm bnalrkbohcb cows oegn tl tflsb ilvbrngnihoneruptky prlkbbmgnis sgingagkontcy cgdgts tfb GCCX wfbn slcvbnky onmmbht lvbrfoni klnsgmbrotglns orb mldgnont. Os gn tfb kosb la o mldbs-tgk gnstgtutgln ilgni tfrluif honeruptky, baagkgbnky koccs alr opprlprgotbom`ustdbnt onm mbht rbstrukturgni, hut tfb GCCX konnlt rbcy ln tfb tromg-

tglnoc cbioc gnstrudbnts tl prlmukb tfbsb rbsucts. Kluntry klnmgtglnocgtydoy stbbr krgsgs rbslcutgln gn tfb lptgdoc mgrbktgln, hut gt mlbs nlt iuor-ontbb tfb egnm la rbslcutgln tfot wlucm hb abosghcb wgtf honeruptky-cgebcbioc plwbr, os strlni klnmgtglnocgty doy aogc tl hb aucagccbm onm wboeklnmgtglnocgty gs hlunm tl fovb cgdgtbm baabkt. Klntrlc lvbr tfb hbfovglrla prgvotb krbmgtlrs oppbors bvbn cbss plwbrauc. ]fb gdpbmgdbnts tl baabk-tgvb prgvotb sbktlr gnvlcvbdbnt gn GCCX orb krgtgkoc, hbkousb tfb sfbbr sgzbla prgvotb sbktlr kopgtoc aclws doebs tfbd aunmodbntoc tl klntogngnicgqugmgty krgsbs onm donoigni slcvbnky krgsbs.

Hbkousb la slvbrbginty, gt wlucm hb nogvb tl prlplsb tfb krbotgln onmbdplwbrdbnt la on gntbrnotglnoc honeruptky klurt sgdgcor tl gts mldbstgkkluntbrport. Bvbn ga slvbrbgins ottbdptbm tl kbmb bx ontb sldb slvbr-bginty prbrliotgvbs hy okklrm gn lrmbr tl hrgni GCCX kluntry klnmgtgln-ocgty kclsbr tl o cbioc arodbwlre, tfb klddgtdbnt tl sukf suhdgssgln

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wlucm hb unbnalrkbohcb. Flwbvbr, gntbrnotglnoc cbioc rbalrd tl bdplwbrGCCX wgtf rbspbkt tl gntbrnotglnoc cbnmbrs oclni tfb cgnbs la o honeruptkyarodbwlre oppbors abosghcb, bgtfbr hy trboty lr klntroktuoccy, onm doy

hrgni suhstontgoc gdprlvbdbnts.?2 Cow doy nlt hgnm ilvbrndbnts, hut gtdoy hgnm prgvotb krbmgtlrs.

]fb ohsbnkb la on gntbrnotglnoc honeruptky systbd krbotbs twl krgtgkoccgdgtotglns wgtf rbspbkt tl agnonkgni om`ustdbnt gn on gnslcvbnky sgtuotgln.Agrst, cbnmbrs onm ltfbr stoebflcmbrs wgtf klnacgktgni gntbrbsts konnlt hbalrkbm tl klccohlrotb. Hbylnm kllrmgnotgln, tfb GCCX konnlt supbrsbmbtfb rgifts la krbmgtlrs tl arbb rgmb onm kosf gn5 gt konnlt alrkb tfbd tl wogtuntgc o vgohcb mbht-rbstrukturgni orronibdbnt gs mbsginbm onm oirbbm tlunmbr baagkgbnt rucbs (o stonmstgcc ln mbht poydbnts). Kllrmgnotgln odlni

cbnmbrs gs nbkbssory hut nlt suaagkgbnt alr baagkgbnt rbstrukturgni.[bklnm, gt gs mgaagkuct tl lhtogn nbw cbnmgni murgni tfb rblriongzo-

tgln prlkbss, hbkousb tfbrb gs nl klurt ohcb tl iront sbnglrgty prglrgty tlgntbrgd agnonkgni, doegni gt ocdlst gdplssghcb tl ottrokt arbsf prgvotb sbk-tlr agnonkgni tl okkldpony GCCX (o plgnt bdpfosgzbm hy Hlctln onm [ebbc8::2). Gn tfb ohsbnkb la cbioc plwbr, GCCX gs cgdgtbm tl gnmgrbkt dbonsla gnacubnkgni prgvotb cbnmbrs, sukf os tygni gts agnonkgoc supplrt tl tfbgrklccbktgvb hbfovglr onm flpgni tfot tfby orb ohcb tl kllrmgnotb o rotglnocrbsplnsb, os gn cbnmgni gntl orrbors. Ygtflut ony dbkfongsd alr kotocyzgniprgvotb sbktlr portgkgpotgln, GCCX doy tfwort tfb bntgrb baalrt.

Gn tfgs klntbxt, tfb [MXD prlplsoc rbprbsbntbm o dlmbrotb ottbdpttl gnstgtutb kbrtogn rucbs tl aokgcgtotb krbmgtlrs‗ klccbktgvb oktgln alr mbhtrbstrukturgni gn lrmbr tl lvbrkldb tfbsb cgdgtotglns wgtflut gdpgnigni lnkrbmgtlr rgifts (os gn tfb gdplsgtgln la o stoy ln poydbnts onm cgtgiotglnlr tfb gdplsgtgln la `unglr stotus ln lcm mbht). Gt abcc sflrt la baabktgvbcyommrbssgni hltf cgdgtotglns.?1 

Os gt stonms nlw, kluntrgbs kon klntrlc agnonkgoc aclws gn on gnslcvbnkysgtuotgln lncy hy usgni hcunt onm klnacgktgvb gnstrudbnts, sukf os orrborsonm fostgcy orronibm mbht rbstrukturgni. ]rub, tfb abor tfot gdpbmgdbnts

tl klccbktgvb oktgln la plst-Hromy sbkurgtgzbm mbht flcmbrs wlucm doebslvbrbgin mbht-rbstrukturgni nbiltgotglns klccopsb onm orrbors pbrdonbntmgm nlt dotbrgocgzb, onm mbht bxkfonibs wbrb kldpcbtbm. Bvbn gn tfb hbstla kgrkudstonkbs, flwbvbr, mbht rbstrukturgni oirbbm upln ln tfb hosgs laon laabr tfot (sldb quocgagbm do`lrgty la) cbnmbrs –konnlt rbausb— gs o hrbokfla klntrokt, wgtf nosty klnsbqubnkbs alr tfb auturb bvbn gn tfb ohsbnkb laflcmluts. Cgeb orrbors, tfb gdplsgtgln la klntrlcs ln kopgtoc lutaclws lntfb port la kluntrgbs doy hb o woy lut gn kbrtogn kgrkudstonkbs, hut gtdoy ocsl korry bnlrdlus klsts alr tfb auturb ga sukf klntrlcs plgsln tfb

wbcc la agnonkgoc gntbirotgln. GCCX kon fbcp mgaausb tfb rbputotglnoc klstla orrbors hy cbnmgni gntl orrbors ga o kluntry gs doegni o illm aogtf baalrtot rbstrukturgni. Gt kon ocsl fbcp hy oktgvotgni gts cbnmgni onm mbkcorgni tfblkkurrbnkb la kbrtogn agnonkgoc klntgnibnkgbs tfot dbrgt gdpbmgdbnts lnkopgtoc lutaclws, tfus prlvgmgni klvbr tl kluntrgbs bxbrkgsgni klntrlcs gn

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gntbrnotglnoc cbnmgni la cost rbslrt ;=2

tflsb kgrkudstonkbs (–bxkusohcb— kopgtoc klntrlcs). Flwbvbr, occ la tfbsbdbtflms rbcy ln gnmgvgmuoc kluntrgbs‗ ungcotbroccy hrbokfgni tfbgr lhcgio-tglns onm cgvgni wgtf tfb cbioc onm rbputotglnoc klnsbqubnkbs.

]fb kcbonbst onm soabst woy tl okfgbvb klntrlc lvbr agnonkgoc aclws gno krgsgs sgtuotgln wfgcb ovlgmgni orrbors lr alrkbm mbht rbstrukturgni onmkopgtoc lutaclw klntrlcs wlucm hb tl bnmlw tfb GCCX wgtf cbioc plwbrstl iront o stonmstgcc ln gntbrnotglnoc poydbnts wfbn o kluntry‗s ohgcgty tlsbrvgkb gts mbht gs gnsuaagkgbnt, hosbm ln rucbs sgdgcor tl tflsb ilvbrngnistonmstgcc lrmbrs gn o mldbstgk honeruptky klurt. Gn tfgs woy, tfb GCCXwlucm prlvgmb o stonmorm alr –bxkusohcb— mbaouct. Ot tfb sodb tgdb,kluntrgbs nlt dbbtgni tfb stonmorm onm ungcotbroccy mbaouctgni wlucm hbbxplsbm os lpplrtungstgk gn tfb `umidbnt la tfb GCCX, gnkrbosgni tfb

rbputotgln klst la argvlclus mbaouct. Mgskrgdgnotgni hbtwbbn `ustgagbm onmun`ustgagbm mbaoucts onm mbht-rbstrukturgni tbrds, sl tfot clw mbaouct klstsoppcy lncy tl GCCX‛kbrtgagbm mbht rbstrukturgni hosbm ln tbkfngkoc krgtbrgo,gs aunmodbntoc tl bnsurb tfot tfb bx plst baagkgbnky iogns la on lrmbrcywlrelut donoibm hy GCCX ml nlt tronscotb gntl gnkbntgvbs tl mbaouctlpplrtungstgkoccy ([turzbnbiibr onm Pbttbcdbybr 8::9).?9 

]fb ohgcgty tl cbioccy gdplsb o stonmstgcc ln poydbnts onm kopgtoc lut-aclws prlvgmbs tfb acbxghgcgty nbbmbm tl rbstrukturb wfgcb ebbpgni slvbr-bgin rgse unmbr klntrlc, hbkousb o ductgcotbroc GCCX gs on flnbst hrlebrnlt suaabrgni arld tfb slvbrbgin‗s wgccgninbss-tl-poy prlhcbd (Abrnïnmbz-Orgos onm Fousdonn 8::8). Irontgni tfgs outflrgty wlucm bdplwbr tfbGCCX gn tfrbb woys. Agrst, gt wlucm bnohcb tfb GCCX tl mgshursb aunms outl-dotgkoccy, wgtflut klnkbrn tfot gts cbnmgni klucm tronscotb gntl gnkrbosbmkopgtoc lutaclws onm cgttcb rboc baabkts. [bklnm, gt wlucm fbcp kllrmgnotbcbnmbrs onm gnvbstlrs onm huy tgdb alr on opprlprgotb mbht rbstrukturgniunmbr bqugtohcb klnmgtglns alr occ gnvlcvbm. ]fgrm, hy klnmgtglngni tfbcgatgni la tfb stonmstgcc ln on opprlprgotb mbht-rbstrukturgni oirbbdbnt,gt wlucm igvb tfb GCCX on baabktgvb gnstrudbnt wgtf wfgkf tl bnsurb tfotom`ustdbnt onm rbstrukturgni wgcc hb sukkbssauc. ]fgs plgnt gs wlrtf bcohl-

rotgln, hbkousb gt gs lnb la tfb dogn hbnbagts la tfgs romgkoc cbioc rbalrd.Os gn mldbstgk honeruptky, stoebflcmbrs nbbm tl oirbb ln on lvbr-

occ prlplsoc alr om`ustdbnt onm mbht rbstrukturgni. ]fb gntbrbst la tfbGCCX gs tl prldltb o rblriongzotgln tfot kldhgnbs kluntry om`ustdbnt(gnkcumgni plcgky rbalrd) onm mbht rbstrukturgni gn o woy tfot sbrvbs tfbhbst gntbrbsts la tfb kluntry. ]fbrb orb dony woys gn wfgkf sukf o kld-hgnotgln doy hb aoucty. Gnombquotb kllrmgnotgln hy krbmgtlrs doy cbomtl kfols. [flrt-sgiftbm ilvbrndbnts doy aovlr bxkbssgvb mbht rbmuk-tgln, furtgni tfb kluntry‗s prlspbkts alr auturb agnonkgni. Octbrnotgvbcy,

mbht rbstrukturgni doy hb nbiltgotbm tll cotb, hbkousb ilvbrndbnts mlnlt wont tl aokb gts plcgtgkoc klsts, prbabrrgni gnstbom tl –iodhcb alrrbsurrbktgln,— wfgkf rbsucts gn gnbaagkgbnt om`ustdbnt ([turzbnbiibr onmPbttbcdbybr 8::9). Kluntrgbs wgtf unslunm ilvbrndbnts doy bnioib gnlvbrom`ustdbnt alcclwbm hy bxkbssgvb mbht rbmuktgln.

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Bvbn ga krbmgtlrs kllrmgnotb pbrabktcy onm ilvbrndbnts doxgdgzbnotglnoc wbcaorb, mbht rbmuktgln hgcotbroccy oirbbm ln hy cbnmbrs onm hlr-rlwbrs doy hb tll sfocclw onm aogc tl rbdlvb omvbrsb mbht lvbrfoni

baabkts.?6  ]fgs gs o mgstgnkt plssghgcgty ga GCCX agnonkgni gs pbrkbgvbm tlmbpbnm ln o kluntry‗s plstrbstrukturgni agnonkgoc nbbms, tfb typgkoc kosbla o mbbp-plkebtbm tfgrm porty toegni omvontoib gn o hgcotbroc nbiltgo-tgln. ]fb ohgcgty tl dogntogn tfb stonmstgcc ln poydbnts untgc o sotgsaok-tlry pokeoib ln om`ustdbnt onm mbht rbstrukturgni gs alunm onm cbnmbrsoirbb, os wbcc os tfb ohgcgty tl rbdlvb sukf stonmstgcc ga tfb kluntry mlbsnlt bnioib gn om`ustdbnt onm mbht nbiltgotglns gn o klnstruktgvb donnbr,wlucm prlvgmb plwbrauc cbvbroib tl tfb GCCX ln hltf om`ustdbnt onm mbhtrbstrukturgni.

 ]fb ltfbr eby bcbdbnt la cbioc rbalrd gs tfb ohgcgty la tfb GCCX tliront sbnglrgty tl arbsf gntbrgd cbnmgni. ]fb octbrnotgvbs tl vlcuntorynbw agnonkgni rbvgbwbm borcgbr rbcy ln suhstgtutbs la cbioc prglrgty tfotorb klstcy lr mgaagkuct tl lhtogn. Ga tfbsb suhstgtutbs orb hosbm ln laagkgociuorontbbs, tfby orb o klntgnibnt cgohgcgty la GCCX onm tfbrbalrb klstcy.Ga tfby orb hosbm ln gnsuronkb klntrokts lr gnsuronkb-cgeb prlvgsglns gnmbht klntrokts, tfby orb mgaagkuct tl gdpcbdbnt onm typgkoccy sbbn os tllklstcy hy sflrt-sgiftbm ilvbrndbnts alr tromgtglnoc gnsuronkb ovbrsglnrboslns. Dlrb ibnbroccy, nbw cbnmbrs doy hb unohcb tl prlvgmb arbsfdlnby hbkousb la cbioc gntbrabrbnkb hy bxgstgni cbnmbrs gn orrbors. Cbiocsbnglrgty wlucm rbslcvb tfgs gssub hy gdpcgkgtcy krbotgni o hugct-gn gnsur-onkb dbkfongsd. ]fb kluntry wlucm gdpcgkgtcy poy alr tfgs (donmotlry)gnsuronkb tfrluif fgifbr sprboms kousbm hy tfb bxpbktbm mgcutgln klsts larbiucor mbht gn tfb bvbnt la o agnonkgoc krgsgs, tfus ocgingni tfb occlkotglnla klsts onm hbnbagts la tfb rgse klvbrbm.

Hy krbotgni tfb klnmgtglns alr arbsf vlcuntory dorebt agnonkgni, tfgscbioc plwbr wlucm okt os o strlni kotocyst, rbmukgni tfb agnonkgoc rbslurkbsnbbmbm hy tfb GCCX. Gn tfb bxtrbdb, tfb GCCX wlucm hb ohcb tl klnkbn-trotb ln gts donoibdbnt rlcb rotfbr tfon agnonkgni. Gn tfb ohsbnkb la cbioc

plwbr tl iront sbnglrgty stotus tl arbsf dlnby, gt gs cgebcy tfot nbw dlnbywgcc ocwoys fovb tl kldb arld laagkgoc slurkbs onm rbqugrb plcgtgkoc oirbb-dbnt tl sustogn sgzohcb aunms.

]fb Xlcb la Ductgcotbroc Mbvbclpdbnt Hones gn[upplrtgni tfb GCCX

Laagkgoc GCCXs gnkcumb hltf ductgcotbroc onm hgcotbroc gnstgtutglns. Rncgeb

prgvotb sbktlr cbnmbrs, wfgkf nbbm tl hb irontbm suhstontgoc bnfonkbdbntslr sldbflw kloxbm gntl cbnmgni gntl o agnonkgoc krgsgs, ductgcotbroc mbvbc-lpdbnt hones orb noturoc kldplnbnts la on GCCX systbd, hbkousb tfbyorb iugmbm hy mbvbclpdbnt ilocs tfot doeb tfbd dlrb wgccgni tl cbnm gnrgsegbr bnvgrlndbnts ga slkgoc rbturns orb fgif. Ot tgdbs la mgaagkucty, lr

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gntbrnotglnoc cbnmgni la cost rbslrt ;=9 

krgsgs, tfb rgse la clssbs gs fgif”hut sl gs tfb klrrbsplnmgni slkgoc rbturn laklntogngni tfbd. Gn poroccbc, igvbn tfbgr prbabrrbm krbmgtlr stotus, ductgcot-broc mbvbclpdbnt hones fovb o supbrglr bnalrkbdbnt kopokgty tl rbklvbr

tfbgr kopgtoc ot rgse, wfgkf doebs tfbd dlrb ohcb tl wgtfstonm rgse. Hltfmgaabrbnkbs hbtwbbn ductgcotbroc mbvbclpdbnt hones onm prgvotb cbnmbrshbkldb mldgnont gn fgif-rgse sgtuotglns, sukf os sbvbrb mlwnturns lragnonkgoc krgsbs.

]fbsb mgaabrbnkbs bxpcogn wfy prgvotb cbnmgni gs prlkykcgkoc onm cbnm-gni hy ductgcotbroc mbvbclpdbnt hones gs kluntbrkykcgkoc. ]fb fgstlrgkocrbklrm onm bklnldbtrgk onocysgs mlkudbnt tfot kluntbrkykcgkoc cbnmgnihy ductgcotbroc mbvbclpdbnt hones rbpcokbs rbtrbnkfgni hy prgvotb krbmg-tlrs (Abrnïnmbz-Orgos onm Zlwbcc 8::15 Cbvy Wbyotg 8:?:). Gn tfb typgkoc

mbvbclpgni kluntry, tfb sforb la ductgcotbroc mbvbclpdbnt hone mgs-hursbdbnts rbcotgvb tl prgvotb mgshursbdbnts gnkrbosbs sgingagkontcy murgniirlwtf mlwnturns onm mbkrbosbs gn upturns.?7 Dlrb tl tfb plgnt, gn tfbtypgkoc mbvbclpgni kluntry, tfb cbvbc la ductgcotbroc mbvbclpdbnt honemgshursbdbnts gs gnvbrsbcy rbcotbm tl tfb rotb la bklnldgk irlwtf.

Octfluif tfb gnstgtutgln ot tfb kbntbr la GCCX aunktglns gs tfb GDA,kllrmgnotgln wgtf ltfbr GCCXs gs gdplrtont alr sukkbss. ]fb qubstgln gswfbtfbr tfb oktgvb kluntbrkykcgkoc rlcb la ductgcotbroc mbvbclpdbnt honesmurgni mlwnturns onm agnonkgoc krgsbs wlucm rbdogn unmbr tfb GCCX sys-tbd prlplsbm ohlvb. ]fb onswbr gs prlhohcy ybs, ln sbvbroc klunts0

• GCCX oppcgbs lncy gn bxtrbdb agnonkgoc sgtuotglns. Ductgcotbroc mb-vbclpdbnt hones dlmucotb spbkgagk mbvbclpdbnt prl`bkts onm plcgkyrbalrd tl tfb bklnldgk kgrkudstonkbs la kluntrgbs, gnkcumgni hyfbcpgni mbvgsb baabktgvb kluntbrkykcgkoc agskoc plcgkgbs wfbrb tfbrb gsagskoc spokb tfot kon okkbcbrotb bklnldgk rbklvbry lr hy cgdgtgni tfbsgzb la klntroktglns wfgcb bnsurgni mbvbclpdbnt vocub.

• Rnmbr o nudhbr la skbnorgls, ductgcotbroc mbvbclpdbnt hones doy hbkoccbm ln tl hb o portnbr la tfb GCCX. Hbkousb ductgcotbroc mbvbclp-

dbnt hones orb wgccgni tl cbnm gn o agnonkgoc krgsgs onm tl ml sl clnitbrd, unmbr nlrdoc lpbrotglns tfby orb gdpcgkgtcy portnbrs la GCCXs.]fb GDA doy aogc tl sbrvb os tfb GCCX hbkousb gt gs nlt pbrdgttbmtl mgshursb suaagkgbnt rbslurkbs tl o portgkucor kluntry. Rnmbr sukfkgrkudstonkbs, kluntrgbs klucm hbnbagt arld ductgcotbroc mbvbclpdbnthones os bxpcgkgt portnbrs. Gt gs ocsl plssghcb tfot alr sdocc kluntrgbs,tfb GDA doy agnm gt dlrb proktgkoc tl mbcbiotb GCCX aunktglns tlductgcotbroc mbvbclpdbnt hones, suh`bkt tl gts supbrvgsgln (Abrnïnmbz-Orgos, Zlwbcc, onm Xbhukkg 8::7). ]fb GCCX wgcc ocsl dgss lpplrtung-

tgbs hbkousb la kluntry gnbcgighgcgty, stgido, lr dgstrust5 gn tfbsb kosbs,portnbrgni wgtf ductgcotbroc mbvbclpdbnt hones doy hb nbkbssory tlrbokf o klnstruktgvb rbsuct. Gn portgkucor, ductgcotbroc mbvbclpdbnthone portgkgpotgln doy fbcp hugcm trust gn GCCX om`ustdbnt onm mbht-rbstrukturgni vgbws gn slcvbnky krgsbs gn portgkucor kluntrgbs.

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• GCCX gs krgtgkoc alr prlvgmgni kluntrgbs wgtf o coribr agnonkgoc bnvbclpbtl sfopb krgsgs plcgkgbs5 ductgcotbroc mbvbclpdbnt hones orb koccbm uplngn tgdbs la mgaagkucty tl portgkgpotb gn tfb oktuoc rbossgindbnt la puhcgk

sbktlr oktgvgtgbs wgtfgn tfb ovogcohcb bnvbclpb. ]fby klntrghutb tfrluifprl`bkt- onm plcgky-hosbm clons (gnkcumgni tfb rbalrducotgln la tfbclon plrtalcgl). ]fby supplrt tfb mbvbclpdbnt gntbirgty la eby ospbktsla tfb lvbrocc puhcgk bxpbnmgturb arodbwlre, wfgkf doy klccopsb un-mbr agskoc om`ustdbnt prbssurb5 fbcp mbsgin onm prltbkt slkgoc prlirodstl klntogn tfb baabkts la rbkbssglns ln tfb pllr onm auturb ibnbrotglns5onm soabiuorm gnvbstdbnt prl`bkts onm plcgky rbalrds tfot doy hbvgktgds la mgslrmbrcy om`ustdbnt. Igvbn tfb fgif vlcotgcgty la bklnldgkoktgvgty gn mbvbclpgni kluntrgbs, wfgkf klntrghutbs tl pllr bklnldgk

pbralrdonkb, tfbsb rbsplnsghgcgtgbs orb krukgoc alr bklnldgk mbvbclp-dbnt. ]fby konnlt hb ommrbssbm hy on GCCX klnkbrnbm lncy wgtf dok-rlbklnldgk hoconkbs. Zortgkgpotgln la ductgcotbroc mbvbclpdbnt honeswlucm rbmukb tfb nbbm alr GCCX om`ustdbnt klnmgtglnocgty.

• ]gdbs la krgsgs doy krbotb lpplrtungtgbs tl pursub irlwtf-bnfonkgni rbalrds, gnkcumgni mbvbclpdbnt-lrgbntbm strukturocrbalrds tfrluif plcgky-hosbm clons, tfot wlucm ltfbrwgsb nlthb unmbrtoebn. ]fb GDA gs gn kforib la dlngtlrgni tfb humibt bn-vbclpb gn tfb sflrt run5 ductgcotbroc mbvbclpdbnt hones alkus lnrbalrds tfot ibnbrotb hbttbr arodbwlres alr agskoc plcgky. Ductgcot-broc mbvbclpdbnt hones kon mbsgin agskoc gnstgtutglns tfot nlt lncysbrvb tfb purplsb la agskoc om`ustdbnt unmbr GCCX hut ocsl bnsurbagskoc sustognohgcgty ilgni alrworm. ]fbgr portgkgpotgln wlucmgdprlvb GCCX klnmgtglnocgty.

Gn occ kosbs la bxtrolrmgnory agnonkgni la tfgs slrt, tfb GDA onm ductg-cotbroc mbvbclpdbnt hones nbbm tl okt gn klnkbrt tl bnsurb tfot tfb GCCXaunktgln gs pbralrdbm baagkgbntcy, gn tfb klntbxt la on lvbrocc cbnmgniprlirod. Gt gs bspbkgoccy gdplrtont tfot ductgcotbroc mbvbclpdbnt hones

rbarogn arld cbnmgni dlrb cbngbntcy tfon tfb GDA unmbr klntgnibnkgbsklvbrbm hy gts GCCX aokgcgtgbs, hbkousb sukf kldpbtgtgln wlucm unmbrdgnbtfb GCCX systbd. (La klursb, tfgs gs bqugvocbnt tl soygni tfot tfb GCCXsystbd gs unmbrdgnbm ga tfb GDA gs forsfbr tfon ductgcotbroc mbvbclpdbnthones mbbd opprlprgotb.) Gn tfb cost onocysgs, on GCCX systbd nbbms tl hboirbbm upln onm kllrmgnotbm hy occ ductgcotbrocs. Alr bxodpcb, lnkb onGCCX systbd gs oirbbm upln, kluntrgbs osegni ductgcotbroc mbvbclpdbnthones alr bxtrolrmgnory agnonkgni doy hb rbqugrbm tl ose alr bcgighgcgty tlGCCX aokgcgtgbs (ga tfby ml nlt ocrbomy quocgay alr tfbd), sl tfot tfb GCCXossbssdbnt kon hb toebn gntl okklunt gn mbtbrdgngni tfb tbrds onm klnmg-tglns la sukf agnonkgni. ]fgs kllrmgnotbm prlkbmurb wlucm ocsl strbnitfbndbdhbrsfgp gn tfb GCCX systbd onm sbkurb prbquocgagkotgln, wfgkf gs ebyalr tfb sukkbss la o krgsgs prbvbntgln onm dgtgiotgln tllc gn wfgkf spbbmonm kbrtognty orb krgtgkoc.

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gntbrnotglnoc cbnmgni la cost rbslrt ;=7

Gn o tgbrbm GCCX systbd cgeb tfb lnb prlplsbm, tfb GCCX ossbssdbnt gsfgifcy gnalrdotgvb alr o ductgcotbroc mbvbclpdbnt hone wgccgni tl rbtognopprlprgotb acbxghgcgty. Alr bxodpcb, tfbrb sflucm hb o strlni bxpbktotgln

tfot o kluntry bcgighcb alr tfb tlp tgbr (alr bxodpcb, o kluntry wgtf onlnilgni AKC orronibdbnt wgtf tfb GDA) klucm arbbcy okkbss bxtrolrmgnoryagnonkgni. Gn klntrost, o kluntry tfot wlucm nlt quocgay bvbn alr tfb clwbsttgbr wlucm hb bxpbktbm tl hb mbngbm sukf agnonkgni. Ygtflut prb`umigni tfblvbrocc klnkcusgln ln tfb port la tfb ductgcotbroc mbvbclpdbnt hone, tfbrbwlucm hb o suhstontgoc hurmbn la prlla tl lvbrturn sukf prbsudptglns lntfb hosgs la dokrlagnonkgoc gnmgkotlrs onm ltfbr rbcbvont mgdbnsglns la tfbdokrlbklnldgk onm strukturoc plcgky arodbwlre os wbcc os dorebt-hosbmgnmgkotlrs la kluntry krbmgtwlrtfgnbss. Alr occ ltfbr cbss kcbor-kut kosbs,

GCCX stotus wlucm hb cbss mbkgsgvb gn alrdgni tfb `umidbnt la tfb ductg-cotbroc mbvbclpdbnt hone. ]fb GDA‗s sflrtbr-run alkus onm tfb dorebt‗sbxkcusgvb klnkbrn wgtf klddbrkgoc krbmgt rgse dbon tfot hltf doy ginlrbclnibr-run sustognohgcgty onm mbvbclpdbnt gssubs tfot ductgcotbroc mbvbclp-dbnt hones toeb gntl okklunt.

Klnkcumgni Xbdores

Os agnonkgoc iclhocgzotgln mbbpbns onm sprboms, tfbrb gs o irlwgni nbbmalr o systbd la GCCX tl mboc wgtf agnonkgoc krgsbs gn vucnbrohcb kluntrgbs.Ductgcotbroc prlirbss tl ommrbss cgqugmgty onm slcvbnky krgsbs fos hbbngnklnsgstbnt, wgtf nl dbongniauc mgstgnktgln hbtwbbn tfb twl5 gn por-tgkucor, tfbrb gs stgcc nl arodbwlre alr slvbrbgin mbht rbstrukturgni. ]fbprlplsocs suiibstbm gn tfgs kfoptbr supplrt onm hugcm ln rbkbnt gngtgotgvbsot tfb GDA tl bxponm tfb aokgcgtgbs krbotbm gn 8::7 tl ommrbss tfb iclhockrgsgs ln o pbrdonbnt hosgs.

]fgs kfoptbr alcclws tfb strotbiy la omoptgni tromgtglnoc mldbstgk

gnstgtutglns la cbnmgni la cost rbslrt onm honeruptky rbslcutgln sl tfotductgcotbroc gnstgtutglns kon bnignbbr o abosghcb GCCX. Gt prlplsbs ongntbirotbm systbd la spbkgocgzbm GCCX aokgcgtgbs tl ommrbss prlhcbds lacgqugmgty, om`ustdbnt, onm mbht rbstrukturgni os sgtuotglns bvlcvb onm tfbnoturb la tfb krgsgs dlrpfs. Bokf aokgcgty gs strukturbm gn tgbrs, mbagnbm hyprbquocgagkotgln stonmorms, tl kotbr tl kluntrgbs‗ kopokgty. Gn occ kosbs,aokgcgtgbs prlvgmb suaagkgbnt outldotgk supplrt up arlnt sl tfot tfby konsbodcbsscy orronib o kluntry prlirod, ga nbbmbm, suh`bkt tl dgngdud bxplst klnmgtglnocgty.

Bcgighgcgty tl aokgcgtgbs mbpbnms ln hltf tfb strbnitf la o kluntry‗s aunmo-dbntocs onm tfb noturb la tfb agnonkgoc krgsgs (cgqugmgty/slcvbnky, systbdgk/ kluntry spbkgagk). Alr bxodpcb, o aokgcgty mbsginbm tl klvbr systbdgk cgqugm-gty krgsbs wlucm mbcgvbr suhstontgoc up-arlnt cbnmgni tl ocdlst occ kluntrgbsgn nbbm, suh`bkt tl dlngtlrgni tl mbtbkt gnmgvgmuoc kosbs rbqugrgni tronsgtgln

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gntbrnotglnoc cbnmgni la cost rbslrt ;2?

la kurrbnky dgsdotkf hbtwbbn cbnmgni plwbr onm agnonkgoc nbbms os wbcc os tfbiclhoc rbpbrkussglns la mldbstgk cbnmgni. ]fb gntbrnotglnocgzotgln la agrds doyocsl cbom tl krlss-hlrmbr CCX tl prgvotb gnstgtutglns.

1. [ldb ossuronkb tl prgvotb sbktlr cbnmbrs wlucm ocsl hb mbsgrohcb gn tfb kosbla cgqugmgty krgsbs.  9. Gnsuronkb-cgeb dbkfongsds nbbm tl hb orronibm bx ontb onm doy vbry wbcc

hb port la ductgcotbroc klnmgtglnocgty. ]fgs kfoptbr alkusbs ln bx plst dbkfongsdswgtf wfgkf tl rbsplnm alcclwgni tfb lnsbt la agnonkgoc krgsbs.

  6. Alr on borcy prlplsoc oclni tfbsb sodb cgnbs oatbr tfb cgqugmgty krgsbs gnbdbrigni kluntrgbs la tfb ?77:s domb gt kcbor tfot GCCX nbbmbm tl hrboe wgtf tfbpost, sbb Abrnïnmbz-Orgos, Iovgn, onm Fousdonn (8:::).

  7. O plcgky arodbwlre klucm ocsl gnkcumb ombquotb gnsuronkb-cgeborronibdbnts.

 ?:. Bxkbssgvb klnmgtglnocgty doy ocsl rbsuct arld on GCCX mbsginbm tl usb tfbkluntrgbs‗ nbbm gn tgdbs la krgsgs tl bxtrokt (bx ontb lr bx plst) bxtronblus kln-

mgtglnocgtgbs nlt oktuoccy nbbmbm tl bnsurb tfb baabktgvbnbss la o portgkucor GCCXlpbrotgln. [ukf on oktgln doy cbom tl unnbkbssory krgsbs gn kluntrgbs nlt wgccgni tlaurtfbr –lptgdgzb— tfbgr plcgky arodbwlres. Bxpbrgbnkb sflws tfot laagkgoc vgbwsln lptgdoc plcgkgbs orb nlt gnaoccghcb, wfgkf koccs alr koutgln onm porsgdlnglusnbssgn mbsgingni pbrtgnbnt, cbt oclnb bxtronblus, klnmgtglnocgty.

 ??. @ust os o prbsudbm cgqugmgty krgsgs doy mbvbclp gntl lr turn lut tl hb oslcvbnky krgsgs rbqugrgni ltfbr aokgcgtgbs, tfb bxpbktotgln tfot mbht rbstrukturgni gsnlt nbbmbm doy rbqugrb rbvgsgln onm o kfonib la aokgcgty.

 ?8. G prbporbm o agrst mroat la tfgs prlplsoc gn 8::7 (GMH 8:?:). Oatbr tfb nltbwos wrgttbn, gt wos hrluift tl dy ottbntgln tfot on GDA [toaa Zlsgtgln Zopbr (GDA8::7) ocsl bnvgsglnbm o vorgbty la skbnorgls onm kluntry bcgighgcgty rbqugrbdbnts

alr GCCX tfot orb hrlomcy kldpotghcb wgtf dy lwn (ochbgt nlt gntbirotbm wgtf ombht-rbstrukturgni aunktgln).

?;. ]fgs plgnt gs dllt gn kluntrgbs gn wfgkf tfb mrgvbr la rbsbrvbs okkuducotglngs bxplrt prldltgln rotfbr tfon rgse donoibdbnt.

?=. Orrbors (wfgkf wlucm mgsquocgay kluntrgbs alr tfb ltfbr aokgcgtgbs) wlucm ocslhb on gnmgkotgln tfot tfgs aokgcgty gs nbbmbm, wgtf tfb sodb kovbot oppcgbm tl kustld-ory plcgkgbs la cbnmgni gntl orrbors la illm aogtf nbiltgotgln wgtf prgvotb krbmgtlrs.

 ?2. ]fb prbkbmbnt la tfb RN [bkurgty Klunkgc prltbktgni Groq‗s lgc ossbts oiognstalrbgin krbmgtlrs, vocgm gn tfb `urgsmgktglns la occ kluntry dbdhbrs, laabrs o dlmbcla flw bxgstgni gnstgtutglns doy fbcp sfopb tfgs cbioc rbalrd.

 ?1. ]fb prlplsoc mgm bnvgsoib o stonmstgcc ln poydbnts (tfb –fltkfplt— rucb).

Bvbn tfgs dlmbrotb prlplsoc wos sfbcvbm, flwbvbr, gn aovlr la o klntroktuocopprlokf tl tfb prlhcbd tl gnkcumb klccbktgvb oktgln kcousbs gn nbw hlnm gssubs,wfgkf orb nlw tfb stonmorm.

?9. Ga mbaouct klsts wbrb rbmukbm gnmgskrgdgnotbcy, gnkbntgvbs tl mbaouct wlucmgnkrbosb (Mllcby 8:::).

 ?6. Gn tfb ohsbnkb la rgse-sforgni aboturbs sukf os IMZ-cgnebm kluplns, tfbnbiltgotbm mbht rbmuktgln gs cgebcy tl hb tll cgdgtbm tl bnohcb cbnmbrs tl pltbntgoccybxtrokt fgifbr poydbnts cotbr ln.

?7. ]fgs pottbrn suiibsts tfot tfb irlwgni agnonkgoc gntbirotgln la dlst klun-trgbs wgcc cbom tl on gnkrbosgni nbbm alr kluntbrkykcgkoc supplrt.

Xbabrbnkbs

Hoibflt, Y. ?69;. Cldhorm [trbbt0 O Mbskrgptgln la tfb Dlnby Dorebt. Clnmln0F. [. Egni.

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;28  abrnïnmbz-orgos

Hconkform, L., F. Aoruqbb, onm D. Mos. 8:?:. –]fb Gngtgoc Gdpokt la tfb Krgsgsln Bdbrigni Dorebt Kluntrgbs.— Hrllegnis Zopbrs ln Bklnldgk Oktgvgty,alrtfkldgni.

Hlctln, Z., onm M. [ebbc. 8::2. –Xbmbsgingni tfb Gntbrnotglnoc Cbnmbr la CostXbslrt.—Kfgkoil @lurnoc la Gntbrnotglnoc Cow 1 (?)0 ?99‛8:8.

Klrmbcco, ]., onm B. Cbvy Wbyotg. 8::2. –O (Nbw) Kluntry Gnsuronkb Aokgcgty.— GDAYlregni Zopbr :2/8;, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Mllcby, D. 8:::. –Gntbrnotglnoc Agnonkgoc Orkfgtbkturb onm [trotbigk Mbaouct0 KonLutput Clssbs Alcclwgni Gntbrnotglnoc Agnonkgoc Krgsbs Hb Ovlgmbm<— NHBXYlregni Zopbr 92;?, Notglnoc Hurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

  Abrnïnmbz-Orgos, B. ?771. –Hoconkb-la-Zoydbnts Xbskub Zokeoibs0 Kon ]fbyYlre<— Ylregni Zopbr ;;, Gntbr-Odbrgkon Mbvbclpdbnt Hone, XbsborkfMbportdbnt, Yosfgnitln, MK.

”””. 8::9. –Xgbsils mb gntbirokgûn agnonkgbro gntbrnokglnoc bn poäsbs bn mbsor-rlccl0 mbsoaäls y lplrtungmombs.— Xbvgsto mbc Alnml Cotgnlodbrgkonl mbXbsbrvos ; (@ungl)0 =7‛26.

”””. 8:?:. –Gntbrnotglnoc [oabty Nbts alr Agnonkgoc Krgsbs.— Ylregni Zopbr?78, Gntbr-Odbrgkon Mbvbclpdbnt Hone, Xbsborkf Mbportdbnt, Yosfgnitln,MK.

Abrnïnmbz-Orgos, B., D. Iovgn, onm X. Fousdonn. 8:::. –Zrbvbntgni Krgsgs onmKlntoigln0 ]fb Xlcb la Gntbrnotglnoc Agnonkgoc Gnstgtutglns.— Gn Yontbm0 YlrcmAgnonkgoc [tohgcgty, bm. B. Abrnïnmbz-Orgos onm X. Fousdonn. Hoctgdlrb, DM0

 @lfns Flpegns Rngvbrsgty Zrbss.

Abrnïnmbz-Orgos, B., onm X. Fousdonn. 8::8. –]fb Xbmbsgin la tfb GntbrnotglnocAgnonkgoc Orkfgtbkturb arld o Cotgn Odbrgkon Zbrspbktgvb0 Yfl Zoys tfb Hgcc<—Gn Mbhotgni tfb Iclhoc Agnonkgoc Orkfgtbkturb, bm. C. Bccgltt Ordg`l. Ochony0[totb Rngvbrsgty la Nbw Wlre Zrbss.

Abrnïnmbz-Orgos, B., onm O. Zlwbcc. 8::1. –Ductgcotbroc onm Zrgvotb [bktlr [lv-brbgin Cbnmgni0 Yfot Doebs DMHs Mgaabrbnt<— Gntbr-Odbrgkon MbvbclpdbntHone, Xbsborkf Mbportdbnt, Yosfgnitln, MK.

Abrnïnmbz-Orgos, B., O. Zlwbcc, onm O. Xbhukkg. 8::7. –]fb Ductgcotbroc Xbsplnsbtl tfb Iclhoc Krgsgs0 Xotglnocb, Dlmocgtgbs, onm Abosghgcgty.— Ylregni Zopbr16;, Gntbr-Odbrgkon Mbvbclpdbnt Hone, Xbsborkf Mbportdbnt, Yosfgnitln,MK.

Agskfbr, [. ?777. –Ln tfb Nbbm alr on Gntbrnotglnoc Cbnmbr la Cost Xbslrt.— Zopbrprbsbntbm ot tfb `lgnt cunkfbln la tfb Odbrgkon Bklnldgk Osslkgotgln onm tfbOdbrgkon Agnonkb Osslkgotgln, Nbw Wlre, @onuory ;.

Irlssdon, F., onm @. Qon Fuyke. ?766. –[lvbrbgin Mbht os o Klntgnibnt Kcogd0Bxkusohcb Mbaouct, Xbpumgotgln onm Xbputotgln.— Odbrgkon Bklnldgk Xbvgbw 96 (2)0 ?:66‛79.

GMH (Gntbr-Odbrgkon Mbvbclpdbnt Hone). 8:::. Yontbm0 Ylrcm Agnonkgoc [tohgc-gty, bm. B. Abrnïnmbz-Orgos onm X. Fousdonn. Hoctgdlrb, DM0 @lfns FlpegnsRngvbrsgty Zrbss alr tfb Gntbr-Odbrgkon Mbvbclpdbnt Hone.

”””. 8:?:. ]fb Oatbrdotf la tfb Krgsgs0 Zlcgky Cbsslns onm Kfoccbnibs Ofbom

alr Cotgn Odbrgko onm tfb Korghhbon, kllrmgnotbm hy O. Gzqugbrml onm B. ]ocvg.Yosfgnitln, MK.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::7. ]fb Mbhotb ln tfb Gntbrnotglnoc Dln-btory [ystbd. GDA [toaa Zlsgtgln Zopbr [ZN/:7/81, Yosfgnitln, MK.

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gntbrnotglnoc cbnmgni la cost rbslrt ;2;

 @bonnb L., M. @. Lstry, onm @. Pbttcbcdbybr. 8::6. –O ]fblry la Gntbrnotglnoc KrgsgsCbnmgni onm GDA Klnmgtglnocgty.— GDA Ylregni Zopbr :6/8;1, GntbrnotglnocDlnbtory Aunm, Yosfgnitln, MK.

Cbvy-Wbyotg, B. 8::1. –Lptgdoc Mbht< Ln tfb Gnsuronkb Qocub la Gntbrnotglnoc MbhtAclws tl Mbvbclpgni Kluntrgbs.— Lpbn Bklnldgbs Xbvgbw 8: (=)0 =67‛2:9.

Lhstabcm, D. 8::7. –Cbnmbrs la Cost Xbslrt gn o Iclhocgzbm Ylrcm.—Dlnbtory onmBklnldgk [tumgbs 89(?)0 ;2‛28.

Zongzzo, R., A. [turzbnbiibr, onm @. Pbttbcdbybr. 8::7. –]fb Bklnldgks onm Cow la[lvbrbgin Mbht onm Mbaouct.— @lurnoc la Bklnldgk Cgtbroturb =9 (;)0 12?‛76.

[turzbnbiibr, A., onm @. Pbttbcdbybr. 8::9. Mbht Mbaoucts onm Cbsslns arld oMbkomb la Krgsbs. Kodhrgmib , DO0 DG] Zrbss.

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Zort GQ

Donoigni Zuhcgk

Mbht gn Krgsbs0 FlwBxpbrgbnkbs Mgaabr

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;29 

?2

Donoigni Zuhcgk Mbht onm Gts

Agnonkgoc [tohgcgty GdpcgkotglnsRmoghgr [. Mos, Dgkfobc I. Zopoglonnlu,Iugcfbrdb Zbmros, @oy [urtg, onm Aogsoc Ofdbm 

[lvbrbgin mbht fos tromgtglnoccy rbkbgvbm dukf ottbntgln os o kru-kgoc kldplnbnt la o kluntry‗s dokrlbklnldgk onm agnonkgoc plcgkyarodbwlre. Gnmbbm, post krgsbs fovb hbbn trgiibrbm hy mbht krgsbs.

]fb rbkbntcy fbgiftbnbm ottbntgln ln slvbrbgin rgse arld plcgky doebrsonm agnonkgoc dorebts stbds arld tfb rbocgzotgln tfot flw mbht gs donoibmklnsgmbrohcy gnacubnkbs tfb slunmnbss onm slcvbnky la tfb lvbrocc puhcgksbktlr hoconkb sfbbt. Mbht donoibdbnt gs ocsl pbrkbgvbm os on gdplrtontaoktlr tfot unmbrpgns tfb krbmghgcgty onm rbputotgln la o slvbrbgin, onmklnmgtglns tfb stohgcgty la mbht kopgtoc dorebts onm tfb agnonkgoc gnstgtu-tglns tfot flcm puhcgk mbht. ]fb sforp gnkrbosb gn mbht cbvbcs gn mbvbclpbm

kluntrgbs onm tfb rbkbnt klntoigln abors gn Burl Orbo kluntrgbs tfrluiftfb honegni systbds fovb rbgnalrkbm tfgs pbrkbptgln.

]fgs kfoptbr bxpclrbs tfb rbcotglnsfgp hbtwbbn tfb cbvbc onm donoib-dbnt la puhcgk mbht onm agnonkgoc stohgcgty, onm bxpcogns tfb kfonnbcstfrluif wfgkf tfb twl orb gntbrcgnebm. Gt suiibsts tfot tfb hrlombr gdpcg-kotglns la o mbht donoibdbnt strotbiy sflucm hb korbauccy onocyzbm hymbht donoibrs onm plcgky doebrs gn tbrds la tfbgr gdpokt ln tfb ilvbrn-dbnt‗s hoconkb sfbbt, dokrlbklnldgk mbvbclpdbnts, onm tfb agnonkgocsystbd.

On bxtbnsgvb hlmy la cgtbroturb bxodgnbs flw tfb stoib la agnonkgocdorebt mbvbclpdbnt oaabkts tfb strukturb la puhcgk mbht gn o kluntry onmflw agskoc plcgky onm tfb rbsuctgni cbvbc la mbht oaabkt dokrlbklnldgkstohgcgty. Flwbvbr, tl tfb hbst la lur enlwcbmib, rbsborkfbrs fovb nltkldprbfbnsgvbcy onocyzbm flw mbht onm mbht donoibdbnt klntrghutb tl

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;26  mos, popoglonnlu, pbmros, surtg, onm ofdbm

agnonkgoc stohgcgty.? Dlrblvbr, lncy rbkbntcy fovb sldb stumgbs bxpcgkgtcyokenlwcbmibm tfb rlcb la tfb prlpbr donoibdbnt la mldbstgk puhcgk mbhtgn prldltgni dokrlbklnldgk-agnonkgoc stohgcgty. Xbgnfort onm Xlilaa

(8::7) plgnt lut tfot kosbs la mbaouct onm rbstrukturgni la mldbstgk puhcgkmbht orb aor dlrb klddln tfon tflsb la bxtbrnoc puhcgk mbht, gdpcygnitfot dlrb ottbntgln sflucm hb mbvltbm tl tfb mldbstgk mbht bpgslmbs.

Occbn onm ltfbrs (8::8) prlplsb o arodbwlre alr bxpclrgni tfb mbhtplrtalcgl donoibdbnt onm dokrlblnldgk-agnonkgoc stohgcgty nbxus hybxodgngni tfb gdpcgkotglns la octbrnotgvb kldhgnotglns la krlss-sbktlrochoconkb sfbbts wgtfgn tfb bklnldy. On onocytgkoc dlmbc bxpcogns o agnon-kgoc krgsgs gn bdbrigni dorebts os o aunktgln la tfb hoconkb sfbbt vucnbr-ohgcgtgbs la mgaabrbnt sbktlrs la tfb bklnldy tl bxlibnlus sflkes onm tfb

woy gn wfgkf sukf sbktlr-spbkgagk vucnbrohgcgtgbs spgcc lvbr tl ltfbr sbktlrs.Xlsbnhbri onm ltfbrs (8::2) bxpclrb tfb rlcb la (prgvotb onm puhcgk sbktlr)mbht-rbcotbm vucnbrohgcgtgbs gn bdbrigni dorebts‗ agnonkgoc krgsbs.

]fb coke la ombquotb moto rbdogns o sbrglus klnstrognt ln tfgs typb laonocysgs. @bonnb onm Iuskgno (8::1) usb o motohosb ln ilvbrndbnt mbhtklvbrgni ?7 bdbrigni dorebt kluntrgbs sgnkb ?76:. ]fby prbsbnt stycgzbmaokts ln mbht strukturbs onm sflw tfot tfbrb orb sgingagkont mgaabrbnkbsgn strukturbs okrlss kluntrgbs arld mgaabrbnt rbiglns la tfb wlrcm. Rsgnitfb sodb moto sbt, Iuskgno (8::6) sflws tfot o kluntry‗s mbht strukturblatbn rbacbkts gts rbkbnt post dokrlbklnldgk hokeirlunm, wfgkf dotbrgoccyoaabkts gts agnonkgoc stohgcgty.

Octfluif tfb dlmbcs mbvbclpbm gn tfbsb popbrs occlw alr onocysgs gnhltf kclsbm- onm lpbn-bklnldy sbttgnis, tfb dlmbcs fovb hbbn oppcgbmprgdorgcy tl lpbn-bklnldy sbttgnis, wfgkf occlw rbsborkfbrs tl ibt o hbt-tbr fonmcb ln tfb mynodgks la tfb mbvbclpdbnt la kopgtoc okklunt krgsbs.Kcborcy, flwbvbr, unsustognohcb mldbstgk mbht cbvbcs kousbm hy aoktlrs sukfos bxponsglnory agskoc plcgky, unmbr agxbm-bxkfonib rotbs lr bxkfonib-rotbhlnm orronibdbnts, kon ocsl cbom tl kurrbnky krgsbs, wgtf corib, mgskrbtbmbvocuotglns onm suhstontgoc dokrlbklnldgk mgsclkotgln. Yfbrb gnbaabk-

tgvb kopgtoc klntrlcs orb gn pcokb, agnonkgoc stohgcgty kon hb kldprldgsbmhy tfb mbpcbtgln la alrbgin bxkfonib rbsbrvbs (Eruidon ?797). Octfluiftfb stlry gs lnkb oiogn lnb la mbht cbvbcs, gt fgifcgifts tfb klnstrogntsgdplsbm ln puhcgk mbht donoibdbnt hy dokrlbklnldgk plcgky onm tfbplcgky rbigdb. Zuhcgk mbht donoibdbnt rbprbsbnts lptgdgzotgln gn tfbklst-rgse spokb wgtfgn tfb klnstrognts sbt hy dokrlbklnldgk plcgky5 gntfb clni run, bvbn tfb hbst puhcgk mbht donoibrs konnlt suhstgtutb alrunslunm plcgky doegni.

Ot o strotbigk cbvbc, mbht donoibdbnt pcoys o vgtoc rlcb gn sbkurgni tfb

bklnldgk hbnbagts la o slunm plcgky arodbwlre gn sbvbroc woys. Agrst,gdprlvbdbnts gn tfb mbht strukturb kon hb on bssbntgoc kldpcbdbnt tlagskoc klnslcgmotgln gn bnsurgni o rlhust rbklvbry gn o plstkrgsgs bnvg-rlndbnt. [bklnm, sukf gdprlvbdbnts, wfbn gdpcbdbntbm lpplrtungstg-koccy (tfot gs, murgni o kykcgkoc upswgni), kon strbnitfbn tfb baabktgvbnbss

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;27

la kluntbrkykcgkoc dokrlbklnldgk plcgky ilgni alrworm, ot o rbcotgvbcyclw klst. Dbosurbs gnkcumb tfb suhstgtutgln la mbht mbnldgnotbm gnmldbstgk kurrbnky alr alrbgin kurrbnky lr alrbgin kurrbnky‛cgnebm mbht5

on bxtbnsgln la tfb doturgty prlagcb la tfb mbht plrtalcgl ot o rboslnohcbklst5 tfb ossgindbnt la doturgty hrokebts tfot ovlgm o hunkfgni la rbag-nonkgni nbbm5 onm o wgmbngni la tfb gnvbstlr hosb tfrluif, alr bxodpcb,ottroktgni alrbgin gnvbstlrs gntl tfb mldbstgk mbht dorebt.

]fb tose gs lpbrotglnoccy kldpcbx onm rbqugrbs mbht donoibrs tl doebmgaagkuct tromb-laas. ]fb iloc la ovlgmgni tfb hunkfgni la doturgtgbs, alrbxodpcb, doy fovb tl hb bvocuotbm oiognst tfb iloc la bstohcgsfgni ongssuonkb vlcudb suhstontgoc bnluif tl bnsurb ombquotb cgqugmgty gn tfbsbkurgty.8

O kldpcbx strotbigk gssub alr mbht donoibrs tfot fos gdplrtont gdpcg-kotglns alr dokrlbklnldgk-agnonkgoc stohgcgty gs tfb mbkgsgln tl hrlombntfb gnvbstlr hosb hy ottroktgni alrbgin gnvbstlrs. [ldb rbkbnt stumgbs alkusln tfb rlcb la alrbgin gnvbstlrs gn rbmukgni tfb klst la slvbrbgin mbht gssu-onkb. Zbgrgs (8:?:), alr bxodpcb, bstgdotbs tfb gdpokt la tfb bntry la alr-bgin gnvbstlrs ln tfb vlcotgcgty onm cbvbc la bdbrigni dorebts‗ ilvbrndbnthlnm ygbcms, klnkcumgni tfot tfb sgingagkont prbsbnkb la alrbgin gnvbstlrsklucm rbmukb hlrrlwgni klst. Gt gs gdplrtont alr ilvbrndbnts tl hbor gndgnm tfb klst-rgse tromb-laa la ottroktgni alrbgin gnvbstlrs os o strotbiy alrhrlombngni tfb gnvbstlr hosb.

Gn on gmboc wlrcm, mbht donoibrs wlucm hb ohcb tl gssub tfb clw-klstpopbr mbdonmbm hy alrbgin gnvbstlrs tfrluif o cgohgcgty strukturb gn wfgkftfbgr bxgt gs nbiotgvbcy”lr wboecy”klrrbcotbm wgtf dokrlblnldgk rgseaoktlrs lr bxgt trgiibrs alr ltfbr gnvbstlrs.; Ga tfgs gs nlt plssghcb, tfb clwgssuonkb klst doy kldb ot o fbovy prgkb gn tbrds la rgsegnbss la tfb mbhtslcm tl alrbgin gnvbstlrs. Octfluif gn sldb kosbs alrbgin cbnmbrs fovbklntrghutbm tl tfb mbdonm alr clnibr-tbrd gnstrudbnts, gn ltfbrs tfbydoy prbabr plgnts ln tfb ygbcm kurvb tfot korry suhstontgoc rbagnonkgni rgsealr tfb slvbrbgin5 gn tfb kosb la mldbstgk mbht, tfby doy wont tl gnmbx

tfb hlnms tl tfb bxkfonib rotb lr tfb rotb la gnacotgln. Mbpbnmgni lntfb kluntry onm tfb plgnt gn tfb husgnbss kykcb, tfgs klucm hb vbry rgsey.Korry-tromb gnvbstlrs kon hb mrown gn ot rbcotgvbcy clw rotbs klnmgtglnocln dogntbnonkb la on lpbn kopgtoc okklunt, hut rbsuctgni mbht doturgtgbsorb typgkoccy sflrt onm plsgtglns latbn ropgmcy unwlunm ga dokrlbklnldgkklnmgtglns mbtbrglrotb. ]fus, tfb vlcudb onm noturb la alrbgin gnvbstlrs‗prbsbnkb gn tfb mldbstgk mbht dorebt nbbm tl hb korbauccy ossbssbm gn rogs-gni onm donoigni puhcgk mbht.

Gn ommgtgln tl strotbigk gdprlvbdbnts tfrluif o clni-tbrd pcon la

oktgln, mbht donoibrs pcoy on gdplrtont rlcb gn stohgcgzgni dorebtstfrluif toktgkoc mbkgsglns. Oktgvb cgohgcgty donoibdbnt tfrluif toktgkocdorebt gntbrvbntgln kon sbrvb tfb iloc la stohgcgzgni dorebts hy sbnmgnion unodhgiulus sginoc rbiormgni tfb mbht donoibr‗s gntbnt onm ohgcgty tlsbkurb tfb vocub la gts lhcgiotglns tl gnvbstlrs. Dlrblvbr, mbht donoibrs‗

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;1:  mos, popoglonnlu, pbmros, surtg, onm ofdbm

doturb pbrspbktgvb ln tfb gdpokt la octbrnotgvb mbht rbstrukturgni strotb-igbs ln dorebt bxpbktotglns gs vocuohcb gn prldltgni agnonkgoc stohgcgty.Eudfla onm ]onnbr (8::2) lhsbrvb tfot mbht donoibrs orb dlrb rbtgkbnt

tfon tfb okombdgk cgtbroturb gn prlplsgni mbht mbaouct lr mbht rbstruktur-gni, igvbn tfb pltbntgoc modoib tfbsb bvbnts kon gnacgkt ln tfb agnonkgocsbktlr.

]fb kfoptbr gs lriongzbm os alcclws. ]fb nbxt sbktgln mbagnbs agnonkgocstohgcgty. ]fb alcclwgni sbktgln lutcgnbs, gn ibnbroc klnkbptuoc tbrds, tfbklntrghutgln la puhcgk mbht onm mbht donoibdbnt tl agnonkgoc mbvbclpdbntonm agnonkgoc stohgcgty. ]fb tfgrm sbktgln alcclws up wgtf on gn-mbptf mgs-kussgln la rbkbnt kluntry bxpbrgbnkbs tfot gccustrotb tfb kfonnbcs tfrluifwfgkf slunm mbht donoibdbnt proktgkbs kon hlcstbr agnonkgoc stohgcgty hy

kldpcbdbntgni gdprlvbdbnts tl tfb dokrlbklnldgk plcgky arodbwlre.]fgs sbktgln ocsl lutcgnbs tfb rbcbvonkb la tfbsb aoktlrs onm kfonnbcs alrkluntrgbs ot mgaabrbnt stoibs la bklnldgk onm agnonkgoc mbvbclpdbnt. ]fbalurtf sbktgln hrgbacy mbskrghbs klddlncy usbm rgse dgtgiotgln plcgkgbs.]fb cost sbktgln laabrs sldb klnkcumgni rbdores.

Mbagngni Agnonkgoc [tohgcgty

Agnonkgoc stohgcgty kon hb hrlomcy klnsgmbrbm os stohgcgty la agnonkgocdorebts, rbacbktbm gn o clw cbvbc la vlcotgcgty la o nudhbr la bklnldgkonm agnonkgoc gnmgkotlrs, gnkcumgni prgkbs, tfb dlnby suppcy, krbmgt tl tfbprgvotb sbktlr, tfb bxkfonib rotb, bqugty prgkbs, hlnm sprboms, gntbrbstrotbs, onm krlss-kurrbnky swop rotbs, odlni ltfbrs. O tromgtglnoc onmgntugtgvb nltgln la agnonkgoc stohgcgty kon alkus ln o sgnicb mgdbnsgln(prgkb) onm o sgnicb kforoktbrgstgk (clw vlcotgcgty) ot rbcbvont arbqubn-kgbs. [ldb bxodpcbs gnkcumb tfb nldgnoc bxkfonib rotb la tfb mldbstgkkurrbnky, stlke gnmbxbs, hlnm ygbcms, lgc onm klddlmgty auturbs, onmvocuotgln la mbrgvotgvbs klntrokts (alr bxodpcb, krbmgt mbaouct swop lr

ossbt swop sprboms).Mgsclkotglns orb nlt ocwoys okkldpongbm, lr ibnbrotbm, hy vlcotgcgty

gn tfb prgkb mldogn, flwbvbr. ]fby ocsl stbd arld gdhoconkbs gn tfbquontgty mldogn (tfot gs, gn mbdonm onm suppcy gdhoconkbs). O hrlombrmbagngtgln wlucm tfus bnkldposs tfb doingtumb onm vlcotgcgty la hgm-osesprboms qultbm hy dorebt doebrs onm la tromgni vlcudb onm turnlvbr gneby dorebts.

Fluhbn, Eoebs, onm [kfgnosg (8::=) suiibst tfrbb dogn rlcbs la agnonkbgn dlmbrn bklnldgbs tfot klucm fbcp mbvbclp o hrlombr mbagngtgln la

agnonkgoc stohgcgty. ]fby gnkcumb tfb prldltgln la on baagkgbnt occlkotgln larboc bklnldgk rbslurkbs okrlss oktgvgtgbs onm tgdb, tfb aokgcgtotgln la tfbtronsalrdotgln la doturgtgbs tl dbbt cbnmbrs‗ onm hlrrlwbrs‗ nbbms, onmtfb opprlprgotb prgkgni onm donoibdbnt la agnonkgoc rgses.

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;1?

[kfgnosg (8::=) doebs tfrbb lhsbrvotglns tfot kon hb usbm gn mbagngniagnonkgoc stohgcgty0

• Agnonkgoc stohgcgty gs o hrlom klnkbpt, bnkldpossgni mgaabrbntospbkts la agnonkb (gnarostrukturb, gnstgtutglns, onm dorebts).

• Agnonkgoc stohgcgty gdpcgbs tfot rbslurkbs onm rgses orb occlkotbm onmprgkbm baagkgbntcy onm tfot tfb systbd la poydbnt aunktglns sdlltfcy.

• Agnonkgoc stohgcgty rbcotbs nlt lncy tl tfb ohsbnkb la agnonkgoc krgsbshut ocsl tl tfb gnfbrbnt ohgcgty la tfb agnonkgoc systbd tl ovlgm, kln-togn, onm mboc wgtf gdhoconkbs tfot klucm plsb o tfrbot tl tfb systbdlr tl bklnldgk prlkbssbs.

Lnb krgtbrgln gn bvocuotgni agnonkgoc stohgcgty wlucm hb wfbtfbr tfbsystbd occlws o sdlltf aclw la aunms, sl tfot sovgnis kon hb baagkgbntcykfonnbcbm gntl gnvbstdbnts. ]fgs krgtbrgln prbsupplsbs tfb bxgstbnkb laagnonkgoc gntbrdbmgorgbs tfot orb ohcb tl baagkgbntcy donoib plrtalcgl rgse.Igvbn tfb kbntrocgty la ilvbrndbnt agnonkbs gn dlst kluntrgbs, gt prbsup-plsbs tfot, occ ltfbr tfgnis bquoc, agnonkgoc gntbrdbmgorgbs orb wgccgni onmohcb tl flcm ilvbrndbnt hlnms tfot korry clw mbaouct onm bxtbnsgln rgsesonm orb cgqugm. Ilvbrndbnt sbkurgtgbs orb bnmlwbm wgtf tfb kforoktbrgs-tgks nbkbssory alr tfbd tl klnstgtutb o hbnkfdore rbcotgvb tl wfgkf tfbrgse aboturbs la ltfbr (agnonkgoc) ossbts gn tfb bklnldy kon hb dbosurbm.

Ilvbrndbnts, portgkucorcy mbht donoibrs, pcoy o krukgoc rlcb gn sbkurgniclw rgse onm fgif cgqugmgty alr slvbrbgin hlnms.

O mbagngtgln tfot kon tfus hb usbm fbrb gs –o agnonkgoc systbd gs gn o ronibla stohgcgty wfbnbvbr gt gs kopohcb la aokgcgtotgni (rotfbr tfon gdpbmgni) tfbpbralrdonkb la on bklnldy onm la mgssgpotgni agnonkgoc gdhoconkbs tfotorgsb bnmlibnluscy lr os o rbsuct la sgingagkont omvbrsb onm unontgkgpotbmbvbnts— ([kfgnosg 8::=, p. 6). ]fgs mbagngtgln, octfluif acbxghcb, doy nltocclw alr o spbkgagk quontgtotgvb dbosurbdbnt. ]fb klnkbpt la agnonkgocstohgcgty nbbms tl ommrbss plssghcb gdpokts (plsgtgvb onm nbiotgvb) la bxli-

bnlus onm bnmlibnlus sflkes ln tfb strukturb la tfb agnonkgoc systbd onmbvbn tl tfb bklnldy gn o klnkrbtb sbnsb.

Zuhcgk Mbht, Mbht Donoibdbnt, onm Agnonkgoc [tohgcgty

]fb stotb la ilvbrndbnt agnonkbs, agnonkgoc stohgcgty, onm rboc sbktlrpbralrdonkb onm prlspbkts orb klmbpbnmbnt. ]fgs cgneoib hbkldbs pogn-auccy opporbnt murgni rbkbssglns trgiibrbm hy o agnonkgoc krgsgs. Gt gs bspbkgoccy

opporbnt alr hones, wfgkf typgkoccy (nbbm tl) flcm on ombquotb quontgty lailvbrndbnt popbr. ]fby ml sl alr sbvbroc rboslns0 tl klnsbrvb ln bqugtykopgtoc aunmgni klst, os tfb rgse wbgift ln tfgs gnvbstdbnt gs typgkoccy ngc5tl dbbt tfb rbiucotlry onm gntbrnoc rgse cgdgts ln cgqugmgty huaabrs5 onm tl

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;18  mos, popoglonnlu, pbmros, surtg, onm ofdbm

dbbt rbiucotlry klnstrognts klnkbrngni ossbt kcossbs bcgighcb alr gnvbstdbntla rbiucotlry kopgtoc gnstrudbnts.

Xbacbktgln suiibsts tfot tfb cgneoib hbtwbbn ilvbrndbnt agnonkbs onm

agnonkgoc stohgcgty gs syddbtrgk tfrluif tfb kykcb. Gn on upswgni, tfbquocgty la agnonkgoc gnstgtutglns‗ bxplsurb tl tfb ilvbrndbnt gs fgif, ospuhcgk hlnms korry clw mbaouct, bxtbnsgln, onm cgqugmgty rgse. Dlrblvbr,tfb bosb la gssuonkb aokgcgtotbs bstohcgsfdbnt la ilvbrndbnt sbkurgtgbs oso hbnkfdore alr baagkgbnt prgkgni la prgvotb sbktlr krbmgt, latbn ot o clwsprbom murgni o hlld. Murgni o mlwnswgni, bspbkgoccy gn tfb kosb la orbkbssgln trgiibrbm hy o agnonkgoc sbktlr mgsclkotgln, dogntbnonkb la tfbossbt quocgty la tfb ilvbrndbnt‗s cgohgcgtgbs, octfluif aor dlrb bcusgvb, gsdukf dlrb krgtgkoc gn klntogngni omvbrsb mbvbclpdbnts gn tfb rboc onm

agnonkgoc sbktlrs.Alr hones tfgs gs sl hbkousb tfb quocgty la bxplsurb tl tfb prgvotb sbk-

tlr sgnes ropgmcy, os dbosurbm gn tbrds la bgtfbr krbmgt lr cgqugmgty rgse.Ilvbrndbnt agnonkbs tfot orb nlt gn illm lrmbr tl hbign wgtf kon irbotcybxokbrhotb tfb mlwnturn onm prlclni tfb rbklvbry. Xbkbnt kosbs la do`lrdokrlbklnldgk-agnonkgoc krgsbs gnkcumb o nudhbr la bxodpcbs gn wfgkftfb puhcgk mbht strukturb wos gn o wboe stortgni plsgtgln (alr bxodpcb,tfb mbht stlke wos fgif, tfb tgdb tl doturgty la o sgingagkont prlplr-tgln la tfb lutstonmgni vlcudb la puhcgk sbktlr mbht wos vbry sflrt, lrtll dukf ilvbrndbnt mbht wos bgtfbr aclotgni rotb lr alrbgin kurrbnky‛mbnldgnotbm lr cgnebm).

O wboe mbht strukturb irbotcy gnfghgts tfb slvbrbgin‗s ohgcgty tl kln-mukt baabktgvb kluntbrkykcgkoc dokrlbklnldgk-agnonkgoc plcgky. Dorebtportgkgponts typgkoccy rbossbss tfb rgse la puhcgk cgohgcgtgbs wgtf pltbntgoccyropgm onm suhstontgoc rotgnis mlwnirombs, wfgkf cgdgt hlrrlwgni kopokgtyhbkousb la tfb norrlwgni la tfb gnvbstlr hosb onm tfb gnkrbosb gn gssuonkbklst. Gt ocsl bxokbrhotbs prbssurb ln agnonkgoc gnstgtutglns‗ hoconkb sfbbts,gnkldbs, onm kopgtoc rbsbrvbs, portgkucorcy wfbrb doregni tl dorebt lailvbrndbnt sbkurgtgbs gn agnonkgoc gnstgtutglns‗ plrtalcgls gdpcgbs rbmuk-

tglns gn gnkldb onm tfrluif on gnkrbosb gn tfb rgse wbgift”alr hones usgniomvonkbm Gntbrnoc Xotgnis Hosbm (GXH) dbtflmlcligbs unmbr Hosbc-GG”orbmuktgln gn kopgtoc. Agnoccy, arld on gnvbstlr‗s pbrspbktgvb, dorebt pbs-sgdgsd kon norrlw tfb gnvbstlr hosb alr tfb slvbrbgin‗s gssubs, wfgkf doytronscotb gntl rbmukbm cgqugmgty la puhcgk mbht.

]fb nbbm alr stotb-splnslrbm systbdgk hone rbslcutgln onm rbstruk-turgni gn o rbkbssgln fodpbrs tfb ilvbrndbnt‗s ohgcgty tl sdlltfcy onmkrbmghcy korry lut sukf lpbrotglns, suhstontgoccy gnkrbosgni tfb rboc onmagskoc klsts la tfb krgsgs. Xgsgni klsts, gn turn, bxbrt o nbiotgvb gdpokt ln

ilvbrndbnt agnonkbs, pltbntgoccy ibnbrotgni o vgkglus kykcb. [ldb la tfgsmynodgk oppbors tl hb ln mgspcoy gn tfb rbkbnt krgsgs bpgslmbs, wfbrbtfb sforpbr rboc sbktlr onm cohlr dorebt gdpokt onm rbcotgvbcy pllrstortgni plsgtglns la tfb puhcgk mbht plrtalcgl gn sldb kluntrgbs abm laabokf ltfbr.

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;1;

]fb mbht tl IMZ rotgl mbkrbosbm gn dony bdbrigni dorebt kluntrgbslvbr tfb post mbkomb (agiurb ?2.?). ]fb lpplsgtb pottbrn kon hb lhsbrvbmalr dlst mbvbclpbm dorebt bklnldgbs, fgifcgiftgni tfb gnkrbosgni gdplr-

tonkb la puhcgk mbht alr tfgs irlup la kluntrgbs.=

Gn ibnbroc, tfb prbsbnkb la o wbcc-aunktglngni ilvbrndbnt mbht dor-ebt fbcps hugcm onm mbvbclp baagkgbnt agnonkgoc dorebts. Agnonkgoc dorebt

Agiurb ?2.? Ilvbrndbnt Mbht tl IMZ Xotgl gn [bcbktbmBdbrigni Dorebt onm Mbvbclpbm Dorebt Bklnldgbs,8::: onm 8::7

[lurkb0 HG[ 8::9.

o. Bdbrigni dorebt bklnldgbs

h. Mbvbclpbm dorebt bklnldgbs

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  n  i   m  l

  d

   A  r  o  n  k  b

  [  p  o   g  n

   Z  l  r   t  u

  i   o   c

  I  r  b  b  k  b

  [  l  u   t   f 

  O  a  r   g  k  o

  K  l   c  l  d

   h   g  o

   D  b  x   g  k  l

   ]  u  r   e  b  y

8::: 8::7

  p  b  r  k  b  n   t

  p  b  r  k  b  n

   t

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 392/527

;1=  mos, popoglonnlu, pbmros, surtg, onm ofdbm

mbvbclpdbnt gs bssbntgoc alr bnsurgni stohcb bklnldgk irlwtf. O slunmagnonkgoc dorebt occlws o kluntry‗s sovgnis tl hb kfonnbcbm gntl gnvbst-dbnts gn o dlrb baabktgvb woy. Dlrb baagkgbnt agnonkgoc dorebts ocsl occlw

alr clnibr-tbrd clons alr gnmgvgmuocs onm kldpongbs. [ukf clons fbcphllst gnvbstdbnt gn o dlrb stohcb woy, occlwgni tfb agnonkgoc systbd tlprldltb on baagkgbnt occlkotgln la kopgtoc onm tronsalrdotgln la doturg-tgbs. Igvbn tfbgr sgzb onm clwbr rgse rbcotgvb tl ltfbr mldbstgk gssubrs,puhcgk mbht gssubs orb tfb opprlprgotb gnstrudbnt wgtf wfgkf tl aokgcgtotbtfgs prlkbss. ]fb gnstrudbnts sflucm hb mbsginbm tl klntrghutb tl tfbmbvbclpdbnt la mbbp onm cgqugm ilvbrndbnt hlnm dorebts upln wfgkfprgvotb sbktlr aunmgni gn tfb bklnldy kon hb hbnkfdorebm.

Oktglns toebn onm plcgkgbs gdpcbdbntbm hy mbht donoibrs kon prldltb

agnonkgoc dorebt mbvbclpdbnt onm agnonkgoc stohgcgty. ]fbgr rlcb fos iognbmbcbvotbm stotus gn tfb klntbxt la donoigni tfb baabkts la tfb rbkbnt krgsgs,murgni wfgkf mbht cbvbcs gn dony kluntrgbs rlsb sgingagkontcy gn o rbcotgvbcysflrt pbrglm la tgdb. Gnkrbosbs gn mbht cbvbcs fovb fbgiftbnbm tfb prbssurbln dorebts tl dbbt tfb fgifbr aunmgni nbbms la ilvbrndbnts, wfgkf rgsesmrgvgni up ygbcms onm ibnbrotgni o suhlptgdoc kldplsgtgln la mbht struk-turbs (hbkousb, alr bxodpcb, la tfb tbdptotgln tl sbcc o mbht stlke wgtf osflrtbr doturgty prlagcb).

Mbht donoibdbnt strotbiy gs on bssbntgoc kldpcbdbnt tl slunm dokrl-bklnldgk plcgkgbs, on opprlprgotb plcgtgkoc bnvgrlndbnt, onm tfb ̀ umgkgluskflgkb la plcgky rbigdb gn okfgbvgni agnonkgoc stohgcgty. Gt kon hb usbm otaovlrohcb plgnts gn tfb kykcb tl rbmukb rgse ot clw klst. Alr bxodpcb, agskocklnslcgmotgln gn o plstkrgsgs pfosb gs latbn on bssbntgoc plcgky gnirbmgbnt gnbnsurgni o rlhust rbklvbry. Gts hbnbagkgoc gdpokt kon hb hlcstbrbm tfrluiftfb iromuoc bxtbnsgln la tfb doturgty prlagcb la puhcgk mbht, kfonigni tfbmbht dgx gn aovlr la nldgnoc hlnms gssubm gn mldbstgk kurrbnky.

Flw Mbht Donoibdbnt Oaabkts Agnonkgoc [tohgcgty0

[ldb Xbkbnt Bxpbrgbnkbs

]fgs sbktgln mgskussbs tfb gdpcgkotglns la tfb cbvbc onm kldplsgtgln la mbhtln agnonkgoc stohgcgty. Onocytgkoccy, agnonkgoc stohgcgty kon hb vgbwbm os oaunktgln la tfb cbvbc la tfb mbht stlke, tfb mbht prlagcb, tfb gnvbstlr hosb,tfb stoib la mbvbclpdbnt la tfb kopgtoc dorebt, onm gnstgtutglnoc aoktlrs.Gn wfot alcclws, wb onocyzb tfb donnbr gn wfgkf bokf la tfbsb aoktlrs konklntrghutb tl agnonkgoc stohgcgty.

[tlke la Zuhcgk Mbht

]fb mbht stlke kon oaabkt agnonkgoc stohgcgty tfrluif sbvbroc kfonnbcs. Agrst,os sflkes tl tfb vorgohcbs tfot mbtbrdgnb tfb vocub la mbht gnstrudbnts kongnacubnkb auturb agskoc klsts, tfb mbht stlke kon oaabkt tfb ilvbrndbnt‗s

8/7/2019 Sovereign Debt and the Financial Crisis

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;12

hoconkb sfbbt. Gn tfgs rbiorm, mbht sustognohgcgty onocysgs sflucm hb kln-muktbm onm rbsucts kclsbcy dlngtlrbm, gn lrmbr tl splt auturb slcvbnkyprlhcbds. Fgif cbvbcs la mbht sflucm ocsl trgiibr plcgkgbs alr dgtgiotgni

plssghcb fgifbr gnacotgln rotbs onm, gn sldb bxtrbdb kosbs, mbrgvgni rbstruk-turgni skfbdbs. Gn portgkucor, ga mbht gs tll fgif, tfb slvbrbgin‗s krbmghgcgtyhbkldbs cbss bnsurbm gn tfb bybs la gntbrnotglnoc gnvbstlrs, wfgkf klucmrbsuct gn fgifbr vlcotgcgty kousbm hy mgaagkuctgbs gn rbagnonkgni ilvbrndbntmbht, wfgkf gn turn klucm trgiibr wgmbr agnonkgoc gnstohgcgty.

[bklnm, o fgifbr stlke la puhcgk mbht bntogcs o fgifbr prlhohgcgty laoaabktgni tfb prgkbs la agnonkgoc ossbts, klrrbsplnmgnicy gnacubnkgni tfbslunmnbss la tfb agnonkgoc sbktlr hoconkb sfbbt. ]fgs gdpokt wgcc mbpbnmnlt lncy ln tfb odlunt hut ocsl ln tfb strukturb la tfb ossbts fbcm hy

agnonkgoc gnstgtutglns.]fb kurrbnt stlke la mbht gs latbn o klnsbqubnkb la post dlnbtory

onm agskoc plcgkgbs. Gt gs nlt unmbr tfb klntrlc la mbht donoibrs lr port latfbgr rbsplnsghgcgtgbs hut rotfbr on gdplrtont gnput tl tfbgr donmotb. Mbhtdonoibrs dust doeb sbvbroc mbkgsglns wgtfgn tfbsb klnstrognts tfot konoaabkt agnonkgoc stohgcgty. Gn ibnbroc, tfb fgifbr tfb mbht stlke, tfb irbotbrtfb gdpokt la sukf mbkgsglns.

Mbht [trukturb onm Kldplsgtgln

Mgaabrbnt slurkbs la vucnbrohgcgtgbs doy orgsb arld tfb mbht prlagcb, mbpbnm-gni prgdorgcy ln tfb mbht strukturb (tfb kldplsgtgln la mbht gnstrudbntsonm tfbgr doturgtgbs) (Hlccb, Xltfbr, onm Foelhyon 8::1). Gnopprlprgotbmbht strukturbs klucm hbkldb kfonnbcs lr slurkbs la vucnbrohgcgtgbs tl tfbrboc bklnldy onm tfb agnonkgoc systbd (Hlrbnsztbgn onm ltfbrs 8::=). ]fbmbht strukturb sflucm plsb clw rgse, nlt lncy alr tfb ilvbrndbnt hut ocslalr dorebts. ]fb cgtbroturb fos alkusbm ln twl slurkbs la vucnbrohgcgtgbs,alrbgin kurrbnky‛mbnldgnotbm cgohgcgtgbs onm tfb sflrt doturgty la cgohgcgtgbs(Zopoglonnu 8::75 alr o hrgba lvbrvgbw la tfb cgtbroturb, sbb Iuskgno 8::6).

Gnopprlprgotb mbht strukturbs kon cbom tl fgifbr gntbrbst poydbnts. Gnibnbroc, clwbr-klst mbht strukturbs (sukf os tfb bxkbssgvb usb la alrbginkurrbnky‛mbnldgnotbm mbht) orb suh`bkt tl fgifbr rgse gn tfb bvbnt la onunbxpbktbm sflke. Gn tfb post, dony bdbrigni dorebt kluntrgbs, bspbkgoccygn Cotgn Odbrgko, rbcgbm fbovgcy ln tfb gssuonkb la gnstrudbnts cgnebm tltfb bxkfonib rotb. Dbxgkl‗s kosb murgni ?77= gs o illm bxodpcb. Ot tfbbnm la ?77=, tfb ]bslhlnls (mldbstgk hlnms cgnebm tl tfb R.[. mlccor) rbp-rbsbntbm ocdlst tfb bntgrb stlke la mldbstgk mbht, up arld `ust = pbrkbnto ybor borcgbr. ]fgs gnkrbosb ocordbm gntbrnotglnoc gnvbstlrs. Ot tfb bnm la

?77=, tfb mldbstgk kurrbnky wos mbvocubm. ]fb mbvocuotgln cbm tl o sgi-ngagkont gnkrbosb gn tfb mbht stlke onm klnsbqubntcy tl sgingagkont agnonkgocgnstohgcgty. Nlt clni oatbrworm, Dbxgkl‗s agnonkgoc gnstohgcgty sprbom tl tfbrbigln. ]fgs bpgslmb gs o kcbor bxodpcb la flw o pllr mbht strukturb konfovb omvbrsb agnonkgoc klnsbqubnkbs (@bonnbou onm Qbrmgo 8::2). Oatbr

8/7/2019 Sovereign Debt and the Financial Crisis

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;11  mos, popoglonnlu, pbmros, surtg, onm ofdbm

tfb krgsgs dony Cotgn Odbrgkon kluntrgbs gdprlvbm tfb kldplsgtgln latfbgr mbht onm mbvbclpbm tfbgr mldbstgk mbht dorebts, gn lrmbr tl hbkldbcbss vucnbrohcb tl mbht-rbcotbm sflkes (agiurb ?2.8), o pottbrn ocsl sbbn gn

Osgo oatbr tfb agnonkgoc krgsgs tfot fgt tfot rbigln.]fb kfonib gn tfb kldplsgtgln la mldbstgk puhcgk mbht hbtwbbn

?772 onm 8::6 kcborcy gnmgkotbs baalrts hy Cotgn Odbrgkon kluntrgbs tlgdprlvb tfbgr mbht prlagcb (agiurb ?2.;). ]fby mgm sl hy rbmukgni tfbgrmbht bxplsurb tfrluif tfb gssuonkb la abwbr bxkfonib-rotb-cgnebm onmdlrb gnacotgln-cgnebm hlnms, wfgkf tbnm tl hb la clnibr doturgty. ]fbsbstrotbigbs ogdbm nlt lncy tl rbmukb tfb alrbgin bxkfonib rgse hut ocsl tlrbmukb rbagnonkgni rgse.

Gt gs plssghcb tfot slunm mbht donoibdbnt kflgkbs wbrb rbnmbrbm abosghcb

hy socutory kfonibs gn dokrlbklnldgk plcgky rbigdbs toebn gn on bxtbrnocbnvgrlndbnt klnmukgvb tl bklnldgk rbklvbry onm irlwtf (agiurb ?2.=).Yfbrb tfbsb plcgky kfonibs wbrb rlhust tl mldbstgk onm bxtbrnoc husgnbsskykcb sflkes, kfonibs gn mbht strukturb prlvbm tl hb hbnbagkgoc tl dokrlbkl-nldgk-agnonkgoc stohgcgty gn tfb clnibr run. Gn ltfbr kosbs, mbht donoibdbntbaalrts oclnb wbrb unohcb tl suhstgtutb alr wboenbssbs gn tfb plcgky arodb-wlre tl klpb wgtf kykcgkoc sflkes.

Hrozgc pfosbm lut bxkfonib-rotb hlnms, klnsgmbrohcy rbmukgni bxkfonibrotb rgses5 alr tfb post sbvbroc ybors, gt fos trgbm tl usb aclotgni-rotb hlnmsonm gnacotgln-cgnebm hlnms tl gnkrbosb tfb ovbroib doturgty la tfb mbht

Agiurb ?2.8 Ovbroib Doturgty la Ilvbrndbnt Mbht,?772‛8::6

[lurkb0 HG[ 8::9.

6

9

1

2

=

;

8

?

:

  ?  7  7   2

  ?  7  7  1

  ?  7  7   9

  ?  7  7  6

  ?  7  7  7

  8  :  :  :

  8  :  :  ?

  8  :  :  8

  8  :  :  ;

  8  :  :  =

  8  :  :   2

  8  :  :  1

  8  :  :   9

  8  :  :  6

  y  b  o  r  s

Cotgn Odbrgko Osgo, coribr bklnldgbs Kbntroc Burlpbtltoc bdbrigni dorebts gnmustrgoc kluntr gbs

8/7/2019 Sovereign Debt and the Financial Crisis

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;19 

wfgcb ottbdptgni tl gnkrbosb tfb sforb la agxbm-rotb gnstrudbnts gn tfb mbhtplrtalcgl. ]fb ilvbrndbnt ocsl strbnitfbnbm mbht donoibdbnt kopokgty,tfrluif gdprlvbdbnts gn tfb gnstgtutglnoc arodbwlre5 bstohcgsfdbnt larbiucor klntokt wgtf mgaabrbnt dorebt sbidbnts, portgkucorcy pbnsgln aunms5onm omlptgln la dbosurbs tl gnkrbosb cgqugm.

Dbxgkl unmbrwbnt sgdgcor kfonibs tl gdprlvb gts mbht strukturb stortgnign borcy 8:::, bnfonkgni gts rbsgcgbnkb tl krgsbs. ]fb dbosurbs unmbrtoebn

ogdbm ot dlvgni tlworm mldbstgk agnonkgni la agskoc mbagkgts, cbnitfbngnitfb doturgty strukturb la tfb puhcgk mbht plrtalcgl, onm mbvbclpgni o cgqugmygbcm kurvb alr mldbstgk mbht. ]fbsb lh`bktgvbs wbrb okkldpongbm hy oplcgky tl gnkrbosb prbmgktohgcgty onm tronsporbnky la mbht gssuonkb onm tlgntrlmukb o dorebt-doegni skfbdb alr ilvbrndbnt gnstrudbnts.

]l unmbrsklrb tfb gdplrtonkb la dokrlbklnldgk stohgcgty onm plcgkyarodbwlres gn rbnmbrgni abosghcb slunm strotbigk kflgkbs gn mbht donoibdbnt,wb ocsl cllebm ot mbvbclpdbnts gn Dbxgkl stortgni gn ?772. Dbxgkl kfonibmgts nldgnoc arodbwlre gn rbsplnsb tl tfb ?77= krgsgs, dlvgni arld o pbiibm

bxkfonib rotb onkflr tl o aclotgni pbsl wgtf prgkb stohgcgty onkflrbm hy ongnacotgln-toribtgni orronibdbnt. [tohcb bxkfonib onm gnacotgln rotbs, onm ofgif onm stohcb mldbstgk sovgnis rotb, wbrb prlhohcy gdplrtont gnirbmgbntsgn o sbkucor clwbrgni la nldgnoc hlnm ygbcms, wfgkf occlwbm alr o cbnitfbn-gni la tfb doturgty prlagcb onm irlwgni gssuonkb gn mldbstgk kurrbnky. ]fbsb

Agiurb ?2.; Mldbstgk Mbht [trukturb, ?772 onm 8::6

[lurkb0 HG[ 8::9.

6:

7:

?::

9:

1:

2:

=:

;:

8:

?:

   C  o   t   g  n

   O  d  b  r   g  k  o

  O  s   g  o

 ,    c  o  r  i   b

  r

  b  k  l  n

  l  d   g  b

  s

  K  b  n   t  r  o   c    B

  u  r  l  p

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   t  l   t  o   c   b

  d  b  r  i    g  n

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  d  o  r   e  b

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111=87

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61

12

72 9;71?::

  p  b  r  k  b  n   t

aclotgni rotb strogift agxbm rotb gnacotgln gnmbxbm bxkfonib rotb cgnebm

?772 8::6 ?772 8::6 ?772 8::6 ?772 8::6 ?772 8::6

8/7/2019 Sovereign Debt and the Financial Crisis

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;16  mos, popoglonnlu, pbmros, surtg, onm ofdbm

o. Lnb-dlntf toribt rotb gn Hrozgc, ?777‛8:?:=2

;2

82

?2

2

   D  o  r

   7  7

   D  o  r

   :  :

   D  o  r

   :  ?

   D  o  r

   :  8

   D  o  r

   :  ;

   D  o  r

   :  =

   D  o  r

   :   2

   D  o  r

   :  1

   D  o  r

   :   9

   D  o  r

   :  6

   D  o  r

   :  7

   D  o  r

   ?  :

h. Gnacotgln onm bxkfonib rotb opprbkgotgln gn Dbxgkl, ?76?‛8::2?2:

?::

2:

:

?82

92

82

 ‛82

 ‛92

 ‛2:

  ?  7  6  ?

  ?  7  6   2

  ?  7  6  7

  ?  7  7  ;

  ?  7  7   9

  8  :  :  ?

  8  :  :   2

  8  :  :  7

k. Xotb ln 7?-moy ]rbosury Hgccs gn Dbxgkl, ?76:‛8:?:?6:

?1:

?=:

?8:

?::

6:

1:

=:

8:

:

  @  o  n

   6  :

  @  o  n

   6  ;

  @  o  n

   6  1

  @  o  n

   6  7

  @  o  n

   7  8

  @  o  n

   7   2

  @  o  n

   7  6

  @  o  n

   :  ?

  @  o  n

   :  =

  @  o  n

   :   9

  @  o  n

   ?  :

  @

  u   c   6  ?

  @

  u   c   6  =

  @

  u   c   6   9

  @

  u   c   7  :

  @

  u   c   7  ;

  @

  u   c   7  1

  @

  u   c   7  7

  @

  u   c   :  8

  @

  u   c   :   2

  @

  u   c   :  6

KZG (onnuoc % kfonib) nldgnoc BX (R[$-DBV, onnuoc % kfonib)

7?-moy ]rbosury Hgcc ygbcm

  p  b  r  k  b  n   t  o  i  b  p  l   g  n   t  s

  o  n  n  u  o   c  o  v  b  r  o  i  b   (  p  b  r  k  b  n   t  o  i  b  p  l   g  n   t  s   )

  p  b  r  k  b  n   t  o  i  b  p  l   g  n   t  s

Agiurb ?2.= Dokrlbklnldgk Mbvbclpdbnts gn Hrozgc,Dbxgkl, onm ]ureby, 8::8‛?:

8/7/2019 Sovereign Debt and the Financial Crisis

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;17

[lurkb0 Fovbr Onocytgks.

Nltb0 [BCGK gs on gntbrbst rotb mbrgvbm hy tfb ovbroib la lnb-moy dorebt

rotbs alr tfb Hrozgcgon dorebt. KZG 4 klnsudbr prgkb gnmbx5 BX 4 bxkfonib rotb5

]XCGHLX 4 ]uregsf Cgro Xbabrbnkb Gntbrbst Xotb.

m. Gnacotgln onm bxkfonib rotb opprbkgotgln gn ]ureby, 8:::‛?:

  @  o  n   :  :

  @  o  n   :  ?

  @  o  n   :  8

  @  o  n   :  ;

  @  o  n   :  =

  @  o  n   :   2

  @  o  n   :  1

  @  o  n   :   9

  @  o  n   :  6

  @  o  n   :  7

  @  o  n   ?  :

6:

1:

=:

8:

:

‛6:

‛1:

‛=:

‛8:

b. ]XCGHLX rotb gn ]ureby, 8::8‛?:

  @  o  n   :  ;

  @  u  n   :  ;

   N  l  v   :

  ;

  O  p  r   :

  =

  [  b  p   :  =

   A  b   h   :   2

  @  u   c   :   2

   M  b  k   :   2

   D  o  y

   :  1

   D  o  r

   :   9

  L  k   t   :

  1

  O  u  i    :  8

  @  o  n   :  6

  @  u  n   :  6

   N  l  v   :

  6

  O  p  r   :

  7

  [  b  p   :  7

   A  b   h   ?  :

  O  u  i    :   9

1:

2:

=:

;:

8:

?:

:

opprbkgotgln gnacotgln

Agiurb ?2.= (klntgnubm)

8/7/2019 Sovereign Debt and the Financial Crisis

http://slidepdf.com/reader/full/sovereign-debt-and-the-financial-crisis 398/527

;9:  mos, popoglonnlu, pbmros, surtg, onm ofdbm

kfonibs rbmukbm rbagnonkgni rgse alr tfb ilvbrndbnt onm klrrbsplnmgnicybxtbnsgln onm rbgnvbstdbnt rgse alr gnvbstlrs.

Gn ]ureby krgsgs-trgiibrbm rbtllcgni la plcgkgbs ln mbht donoibdbnt

bnfonkbm rbsgcgbnkb tl agnonkgoc sflkes. ]ureby‗s puhcgk hoconkb sfbbt wossbvbrbcy wboebnbm os o rbsuct la tfb honegni onm bxkfonib rotb krgsbs gn8::?. ]fb hogcgni lut la tfb honegni sbktlr, tfrluif tfb gssuonkb la (alr-bgin bxkfonib‛cgnebm) ilvbrndbnt hlnms cbm tl o surib gn puhcgk mbht, osflrtbngni la doturgtgbs, onm irbotbr bxplsurb tl alrbgin kurrbnky rgses. Gntfb oatbrdotf la tfb krgsgs, rbmukgni tfb rgses arld fgif puhcgk mbht hbkodbo nbkbssory klnmgtgln alr bnsurgni agnonkgoc stohgcgty. Zrumbnt mbht don-oibdbnt, oiognst tfb hokemrlp la strlni agskoc onm irlwtf pbralrdonkb,klntrghutbm tl tfb gdprlvbdbnt gn tfb kluntry‗s slvbrbgin hoconkb sfbbt

onm prlspbkts alr agnonkgoc stohgcgty.Octfluif o vgrtulus kldhgnotgln la tgift agskoc plcgky, aoccgni gntbrbst

rotbs, onm strlni bklnldgk irlwtf fbcpbm rbmukb mbht rotgls, tfb ]uregsfoutflrgtgbs ocsl tlle omvontoib la tfb aovlrohcb dokrlbklnldgk togcwgnmtl gdprlvb tfb mbht strukturb, rbmukb rgses, onm gnkrbosb agnonkgoc stohgc-gty, gnkcumgni tfrluif rbmuktglns gn tfb cbvbc onm vlcotgcgty la gntbrbst rotbs(agiurb ?2.2). Alr bxodpcb, alrbgin kurrbnky‛gnmbxbm mldbstgk mbht wosfocvbm hbtwbbn 8::8 onm 8::1, arld ;8 pbrkbnt tl ?1 pbrkbnt, sgingag-kontcy rbmukgni slvbrbgin mbht bxplsurb tl bxkfonib rotb rgse. ]fb agxbm-rotb sforb la mldbstgk mbht lvbr tfb sodb pbrglm gnkrbosbm arld 82 pbrkbnttl dlrb tfon =: pbrkbnt, onm tfb sforb la sflrt-tbrd mbht mbkcgnbm tl cbsstfon 2 pbrkbnt la tltoc mbht gn dgm-8::1, mlwn arld dlrb tfon 8: pbrkbntalur ybors borcgbr.

Gn ibnbroc, mbht strukturbs tfot rbcy fbovgcy ln sflrt-tbrd gnstrudbntsorb slurkbs la vucnbrohgcgty, hbkousb sflrt ovbroib doturgtgbs bntogc fgifrlcclvbr onm rbagnonkgni rgse. Gn sukf kosbs, on gnkrbosb gn gntbrbst rotbs konfovb on omvbrsb agskoc gdpokt. Mbht strukturbs tfot orb tll sflrt lr occlwalr hudps gn tfb doturgty prlagcb kon pltbntgoccy ibnbrotb klnagmbnkb krgsbs,aubcbm hy gnvbstlrs‗ klnkbrns tfot tfb ilvbrndbnt wgcc nlt fovb suaagkgbnt

aunms tl rbmbbd doturgni hlnms wfbn tfby aocc mub. Mbpbnmgni ln tfbbxtbnt la tfbsb abors, tfby klucm tronscotb gntl clwbr mbdonm alr tfb klun-try‗s gnstrudbnts gn ouktglns, tfus trgiibrgni o sbca-aucagccgni prlpfbky.

Gt gs tfb mbht donoibr‗s rbsplnsghgcgty tl mbsgin plcgkgbs onm skfbdbs tfotrbmukb tfbsb rgses. ]fgs klucm hb mlnb hy prbbdptgvbcy hugcmgni corib kosfhuaabrs, bnsurgni baagkgbnt kllrmgnotgln wgtf kosf-donoibdbnt plcgkgbs,onm, ot tgdbs, ohslrhgni tfb fgifbr klst la prbaunmgni cgohgcgty tronkfbsdoturgni gn tfb nbor auturb gn lrmbr tl bxtgniugsf tfb rgse la o dorebt koccln slcvbnky ot tfb plgnt la rbmbdptgln.

]fb mbht strukturb kon ocsl gdplsb gdpbmgdbnts tl tfb bxbrkgsb la dln-btory plcgky. [flrt-tbrd lr aclotgni-rotb gnstrudbnts, alr gnstonkb, tbnmtl rbmukb tfb wboctf baabkt nbbmbm alr dlnbtory plcgky tl hb baabktgvb. Gatfgs gs tfb kosb, o dukf strlnibr gnkrbosb gn gntbrbst rotbs wgcc hb nbbmbm gnlrmbr tl ibnbrotb tfb sodb gdpokt ln tfb cbvbc la gnacotgln, tfus fovgni odukf fgifbr gdpokt ln tfb bklnldy.

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;9?

[lurkb0 Ebccbr, Eunzbc, onm [lutl 8::9.

Nltb0 Hors sflw sgx-dlntf lhsbrvotglns alr bokf ybor. INZ 4 irlss

notglnoc prlmukt5 W]C 4 ]uregsf cgro.

Agiurb ?2.2 Kldplsgtgln la Zuhcgk Mbht gn ]ureby, 8::8‛:1

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o. Zuhcgk mbht onmpuhcgk mbht os

pbrkbntoib la INZ

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h. Kldplsgtgln la tltocpuhcgk mbht

k. Kldplsgtgln la mldbstgk

puhcgk mbht

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m. Ovbroib doturgty la

puhcgk mbht

  n  l .  l   a  d  l  n   t   f  s

bxtbrnoc alrbgin bxkfonib gnmbxbm

W]C agxbm W]C vorgohcb

alrbgin bxkfonib gnmbxbm

W]C agxbm

W]C vorgohcb

pbrkbntoib la INZ gn skocb

hgccglns ]uregsf Cgro

Mbht donoibrs la kluntrgbs ot mgaabrbnt cbvbcs la mbvbclpdbnt (alr bxod-pcb, Hrozgc, Gkbconm, Dbxgkl, tfb Rngtbm Egnimld, onm tfb Rngtbm [totbs)orb rbcygni ln tfb gssuonkb la gnacotgln-cgnebm hlnms alr tfbgr aunmgni nbbms.Bxkfonib-rotb hlnms fovb prlvbn tl hb rgsegbr onm sldbtgdbs mbcbtbrglustl agnonkgoc stohgcgty, onm sflrt-tbrd hlnms rbprbsbnt fgifbr rbagnonkgni

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;98  mos, popoglonnlu, pbmros, surtg, onm ofdbm

rgse. Gnacotgln-cgnebm hlnms tbnm tl gnkrbosb tfb ovbroib doturgty la mbhtwgtflut gnkrbosgni tfb bxkfonib-rotb rgses aokbm hy mbht donoibrs. ]fbusb la tfgs hlnm gs ocsl on opprlokf tl doegni tfb hbst usb la tfb gnvbstlr

hosb, os sldb flcmbrs la mbht orb ebbn ln flcmgni tfgs egnm la gnstrudbnt.Flwbvbr, gnacotgln-cgnebm hlnms kon gnkrbosb tfb cbvbc la gnmbxotgln gn tfbbklnldy, cbomgni tl fgifbr gnacotgln rotbs. Mbht donoibrs sflucm unmbr-toeb o korbauc ossbssdbnt la sukf strotbigbs, wfgkf kon oaabkt tfb bklnldgkpbralrdonkb la tfb kluntry.

Gnvbstlr Hosb

Arld tfb plgnt la vgbw la tfb mbht donoibr, on gmboc mbht strukturb klucm

hb o agxbm-rotb, clni-tbrd hlnm plrtalcgl. Flw wlucm sukf o mbht prlagcbclle arld tfb gnvbstlr sgmb<

Agnonkgoc gnstgtutglns typgkoccy flcm o sgingagkont sforb la puhcgk mbht gndlst kluntrgbs. Mbht donoibrs dust rbklingzb tfot tfbgr oktglns kon fovbo vbry do`lr gdpokt ln tfb hoconkb sfbbts la tfbsb gnstgtutglns. Dlrblvbr,igvbn tfb usuoccy fgif cbvbc la gntbrmbpbnmbnkb la agnonkgoc gnstgtutglns, tfbbaabkts kon fovb pltbntgoc systbdgk gdpcgkotglns. ]fgs gdpokt gs rbcbvontnlt lncy wfbn mgskussgni plssghcb slvbrbgin cgohgcgty donoibdbnt onmmbht-rbstrukturgni lpbrotglns hut ocsl wfbn tfgnegni ohlut tfb toribtbmkldplsgtgln la tfb mbht.

[flrt-tbrd mbht gnvlcvbs fgifbr rbagnonkgni rgse, wfgkf klucm plsb ofgifbr rgse tl tfb agnonkgoc stohgcgty la tfb kluntry. Flwbvbr, clnibr-tbrdmbht doy rbprbsbnt fgifbr vocub ot rgse (QoX) alr tfb mbht flcmbr. Agxbm-rotb hlnms plsb cbss rgse tl tfb ilvbrndbnt hut doy rbprbsbnt o fgifbr rgsetl tfb gnvbstlr. Ga gnmgvgmuoc gnvbstlrs, gn sborkf la fgifbr prlagts, gnkrbosbtfbgr bxplsurb tl gntbrbst rotb rgse onm tfbrb gs o fgeb gn gntbrbst rotbs, tfbdorebt os o wflcb doy suaabr, hbkousb tfb unwgnmgni la plsgtglns hy sldbgnstgtutglns doy trgiibr QoX tfrbsflcms alr ltfbrs (alr o illm mgskussgln latfgs tlpgk alr Gnmgo, sbb [y 8::2). Mbht donoibrs sflucm hb oworb la onm

try tl dlngtlr tfgs rgse.]fgs rgse gs portgkucorcy rbcbvont alr dony bdbrigni dorebt kluntrgbs,

wflsb mbht strukturb gs stgcc unmbrilgni strukturoc gdprlvbdbnts. Gn tfbsbkosbs tfb pokb ot wfgkf tfb mbht kldplsgtgln sfgats tlworm dlrb agxbm-rotbgnstrudbnts onm clnibr doturgtgbs sflucm hb korbauccy ossbssbm. Gn Hrozgcmbht donoibrs rbiucorcy dlngtlr dbosurbs sukf os MQ:?2 onm tfb QoX latfb dorebt, wfgkf prlvgmb worngnis la pltbntgoc mgstrbss tfot tfb dorebtklucm aokb ga gntbrbst rotbs rgsb lr vlcotgcgty gnkrbosbs. ]fgs gnalrdotgln kon hbbssbntgoc alr ossbssgni tfb gdpcgkotglns la gdpcbdbntgni spbkgagk strotbigbs.

Gn Gnmgo, alr bxodpcb, fgstlrgkoccy clw gntbrbst rotbs gn tfb agrst foca latfb mbkomb ibnbrotbm klnkbrns tfot ga onm wfbn rotbs rgsb, tfb plsgtglnla agnonkgoc gnstgtutglns (fbovgcy plsgtglnbm wgtf agxbm-rotb gnstrudbnts)klucm rbprbsbnt prlhcbds tl tfbgr hoconkb sfbbts ([y 8::2). ]l kldhottfgs sgtuotgln, murgni tfb sodb pbrglm, tfb ilvbrndbnt gnkrbosbm gssuonkb

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;9;

la aclotgni-rotb hlnms. Os o rbsuct, tfb sforb la aclotgni-rotb hlnms gnirlss dorebt hlrrlwgni rlsb arld ?1 pbrkbnt gn 8::;‛:= tl 87 pbrkbntgn 8::=‛:2.

Os tfb gnvbstlr hosb usuoccy kldprgsbs hones, dutuoc aunms, pbnsglnaunms, onm alrbgin onm rbtogc gnvbstlrs, mbht donoibrs dust strgeb tfbrgift hoconkb hbtwbbn dbbtgni tfb spbkgagk nbbms la bokf la tfbsb irlups lagnvbstlrs onm rbmukgni tfb klsts tl tfb ilvbrndbnt. Mlgni sl bntogcs hbttbrdotkfgni la bokf irlup la tfb gnvbstlr hosb cgohgcgty prlagcb wfgcb ovlgmgnitll dukf dorebt sbidbntotgln tfrluif mgaabrbnt gnstrudbnts.

Mbht donoibrs sflucm nlt toeb tfb gnvbstlr hosb alr irontbm. Gnstbom,tfby kon pcoy o prbbdptgvb rlcb gn mbvbclpgni tfb gnvbstlr hosb aurtfbr,hy gssugni gnstrudbnts toribtbm ot o spbkgagk irlup la gnvbstlrs onm hy

wlregni ln gnkrbosgni o spbkgagk irlup‗s portgkgpotgln gn tfb mbht lr gnportgkucor gnstrudbnts. Mbht donoibrs latbn gssub gnacotgln-cgnebm hlnmstl sotgsay mbdonm hy pbnsgln aunms, alr bxodpcb. Hrozgc fos tromgtglnoccyottroktbm alrbgin gnvbstlrs alr o sdocc prlplrtgln la gts mldbstgk mbhtgssubs wflsb doturgty strukturbs orb klnkbntrotbm ot tfb sflrt bnm la tfbkurvb. O strotbiy wos suhsbqubntcy mbvgsbm tl gssub clnibr-tbrd mldbstgkkurrbnky hlnms gn tfb gntbrnotglnoc dorebts, krbotb o rbabrbnkb plgnt alrgntbrbst rotbs gn tfb mldbstgk kurrbnky, onm top tfbsb doturgtgbs gn tfbmldbstgk dorebt.

Os tfgs prlkbss dlvbm oclni, gt wos bxpbktbm tfot gntbrnotglnoc gnvbstlrswlucm hbkldb dlrb gntbrbstbm gn flcmgni mldbstgk mbht sbkurgtgbs. Hbkousbalrbgin gnvbstlrs orb usuoccy cbss rgse ovbrsb onm tbnm tl flcm clnibr-tbrdgnstrudbnts, tfb gnkcusgln la alrbgin gnvbstlrs gn tfb gnvbstlr hosb konrbmukb vucnbrohgcgtgbs osslkgotbm wgtf puhcgk mbht. Flwbvbr, kluntrgbswgtf o fgif klnkbntrotgln la alrbgin gnvbstlrs orb dlrb suskbptghcb tlagnonkgoc krgsbs, igvbn tfot sukf gnvbstlrs orb cbss klddgttbm tl tfbsb ossbts.Gt gs tfbrbalrb gdplrtont tl agnm tfb hbst hoconkb hbtwbbn tfbsb aoktlrs onmtl kldb up wgtf on opprlprgotb sforb la alrbgin gnvbstlrs. Ga tfbgr sforbgs tll clw, tfb kluntry doy nlt hb toegni omvontoib la pltbntgoc hbnbagts

arld o mgvbrsgagkotgln gn tfb gnvbstlr hosb. Ga gt gs tll fgif, tfb kluntryklucm hbkldb vucnbrohcb.

]fbsb bxodpcbs sflw tfb sbnsgtgvgty la mbht donoibdbnt plcgkgbs tlagnonkgoc gnstgtutglns‗ hoconkb sfbbts onm agnonkgoc stohgcgty. ]fbsb plcgkgbskocc alr o korbauc mbsgin la tfb gnstrudbnts gssubm tl tfb dorebt5 tfby ocslplgnt tl tfb gdplrtonkb la o mgvbrsgagbm gnvbstlr-hosb strukturb. Mgaabrbntirlups la gnvbstlrs wgtf mgaabrbnt rgse oppbtgtbs onm cgohgcgty strukturbstbnm tl rbokt tl nbw gnalrdotgln gn mgaabrbnt woys. O mgvbrsgagbm gnvbstlrhosb kon tfbrbalrb rbmukb tfb gdpokt la sflkes. Alr gnstonkb, clnibr-tbrd

gnvbstlrs (sukf os pbnsgln aunms) kon rbmukb tfb gdpokt la plssghcb gntbrbstrotb gnkrbosbs ln tfb dorebt hy gnkrbosgni tfbgr flcmgnis la clnibr-tbrdgnstrudbnts.

Lvbrocc, arld tfb gnvbstlrs‗ plgnt la vgbw, tfb hbst gnstrudbnts orb tflsbtfot hbttbr dotkf tfbgr cgohgcgty prlagcb, igvbn tfbgr rbturn-rgse kforoktbrgstgks.

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;9=  mos, popoglonnlu, pbmros, surtg, onm ofdbm

Flwbvbr, tfbsb gnstrudbnts doy nlt hb klnsgstbnt wgtf mbht donoibrs‗ prb-abrrbm plrtalcgl. [trgegni tfb rgift hoconkb hbtwbbn tfbsb klnacgktgni lh`bk-tgvbs sflucm hb port la mbht donoibrs‗ mgskrbtglnory mbkgsgln doegni.

Mbht Kopgtoc Dorebt [trukturb

Mbvbclpgni o mldbstgk mbht dorebt gs on gdplrtont bcbdbnt gn tfb mbvbc-lpdbnt prlkbss la o kluntry. ]fb aunktglngni la tfb agnonkgoc systbdmbpbnms krukgoccy ln tfb gnstrudbnts tfot aokgcgtotb gts lpbrotglns onmoktgvgtgbs. Odlni tfb prbrbqugsgtbs alr o wbcc-aunktglngni agnonkgoc systbdorb baagkgbnt cgqugm dorebts. Gccgqugm dorebts orb suh`bkt tl ohrupt aoccs gnossbt prgkbs, wfgkf klucm cbom tl suhstontgoc clssbs alr agnonkgoc gnstgtu-

tglns. Zrldltgni cgqugmgty alr mbht gnstrudbnts sflucm tfus hb on gdplr-tont bcbdbnt gn tfb mbht donoibrs‗ donmotb.

Yfbn gdpcbdbntgni tfbgr strotbigbs, mbht donoibrs sflucm tfgne ohlutprlpbr woys tl aokgcgtotb hlnm cgqugmgty. Mlgni sl wlucm nlt lncy rbmukbklsts alr tfb gssubr, gt wlucm ocsl bnfonkb tfb baagkgbnky la kopgtoc dorebts(Krlkebt 8::6). Alr tfbsb rboslns, gt fos hbkldb okkbptbm hbst proktgkb tlgssub hbnkfdore sbkurgtgbs, wfgkf orb krgtgkoc tl krbotgni cgqugm sbkurgtgbs.

]fb gssuonkb la hbnkfdore gnstrudbnts bnohcbs tfb bstohcgsfdbnt la onbaagkgbnt –rgse-arbb— ygbcm kurvb, wfgkf kon sbrvb os o rbabrbnkb plgnt alrprgkgni ltfbr gnstrudbnts gssubm hy agnonkgoc bntbrprgsbs lr klrplrotglns.Ga klrplrotbs kon gssub tfbgr lwn gnstrudbnts, tfby rbcy cbss ln mgrbkt honegntbrdbmgotgln, tfus rbmukgni systbdgk rgses stbddgni arld tfb agnonkgocsbktlr.1 

Clw-rgse hbnkfdore gnstrudbnts kon sbrvb os baagkgbnt klccotbroc alrlpbrotglns gn tfb agnonkgoc dorebt. ]fb bxgstbnkb la wbcc-prgkbm klccotbrocskon rbmukb tfb tronsoktgln rgse la gnstgtutglns, wfgkf kon usb tfbsb gnstru-dbnts tl laasbt krbmgt rgse. Gn tfb ohsbnkb la tfbsb gnstrudbnts, clons wlucmhb dlrb bxpbnsgvb, gssubm gn sdoccbr vlcudbs, lr hltf. Os o stoebflcmbr gntfb agnonkgoc systbd, mbht donoibdbnt outflrgtgbs sflucm oktgvbcy portgkg-

potb gn mbhotbs ln tfb rbiucotlry skfbdb onm try tl oaabkt tfb rucbs gn woystfot gdprlvb tfb baabktgvbnbss la mbht donoibdbnt plcgky onm uctgdotbcystrbnitfbn agnonkgoc stohgcgty.

Gnstgtutglnoc Ospbkts

Gnstgtutglnoc ospbkts ocsl pcoy on gdplrtont rlcb gn bnfonkgni o klun-try‗s agnonkgoc stohgcgty. ]fbsb ospbkts rbcotb tl kllrmgnotgln skfbdbs wgtfltfbr plcgkgbs, tfb cbioc arodbwlre, onm klddungkotglns wgtf rbcbvont

stoebflcmbrs.Zrlpbr kllrmgnotgln hbtwbbn mbht donoibdbnt onm dlnbtory plcgkytbnms tl rbsuct gn hbttbr sginocgni la ilvbrndbnt gntbntglns onm gnkrbosbtronsporbnky. Hbkousb dlnbtory onm mbht donoibdbnt plcgkgbs klbxgst gntfb sodb dorebt, gt gs krukgoc tl bnsurb illm kllrmgnotgln dbkfongsds. Gn

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;92

dony kluntrgbs, coke la prlpbr kllrmgnotgln fos rbsuctbm gn kldpbtgni ouk-tglns onm dorebt klnausgln rbiormgni tfb trub sginocs la dlnbtory plcgky.[gdgcorcy, pllr kllrmgnotgln wgtf kosf donoibdbnt kon gnkrbosb rbagnonkgni

rgses, ga tfb ovogcohgcgty la aunms ot sflrt nltgkb gs ot rgse.Onltfbr gdplrtont ospbkt tfot sflucm nlt hb nbicbktbm gs tfb struk-

turb la tfb cbioc arodbwlre alr mbht donoibdbnt. On gnombquotb cbiocarodbwlre kon cbom tl mbht donoibdbnt strukturbs tfot orb tll rgigm (alrbxodpcb, strukturbs tfot ml nlt occlw mbht donoibrs tl huy lr sbcc gnstru-dbnts ot o prgkb mgaabrbnt arld por lr sbt humibt cgdgtotglns ln spbkgagktypbs la gnstrudbnts).

Klddungkotglns wgtf dorebt portgkgponts nbbm tl strgeb tfb prlpbrhoconkb hbtwbbn tronsporbnky onm acbxghgcgty. [trgegni sukf o hoconkb kon

mbkrbosb klsts lvbr tfb dbmgud tbrd onm dgngdgzb vlcotgcgty gn tfb dorebt,ga klddungkotglns ovlgm sbnmgni dgxbm sginocs tl tfb dorebt. Mbht strotb-igbs tfot orb nlt prlpbrcy klddungkotbm, orb nlt tronsporbnt, lr prbsbntohrupt kfonibs gn mgrbktgln kon rbsuct gn klnstont sfgats gn tfb gnvbstlr‗splrtalcgl. Rnmbr sukf klnmgtglns, gnvbstlrs konnlt flcm plsgtglns hosbmln o dbmgud-tbrd vgbw5 gnstbom, tfby fovb tl ebbp kfonigni gnstrudbntshosbm ln rudlrs onm pbrkbptglns, wfgkf gnkrbosbs tfbgr rgse onm tfb klststl tfb ilvbrndbnt. Krlss-kluntry bxpbrgbnkb sflws tfot prbmgktohcb onmtronsporbnt mbht donoibdbnt strotbigbs tbnm tl rbsuct gn clwbr klsts onmcbss vlcotgcb dorebts.

_uocgagbm stoaa orb ocsl gdplrtont. Coke la bxpbrtgsb doy cbom o kluntrytl aogc tl unmbrstonm occ la tfb cgnes tl agnonkgoc stohgcgty, pltbntgoccy gnkur-rgni fgifbr rgses.

Xbcbvonkb la Mbht Donoibdbnt alr Qorglus Irlupsla Kluntrgbs

Gn dony mbvbclpgni bklnldgbs, wfbrb mbht kopgtoc dorebts orb nlt ybt

auccy strukturbm, tfbrb doy nlt hb sklpb alr gssugni ilvbrndbnt hlnms. Gntfbsb kosbs mbht gs domb up dogncy la clons onm nlntrombm sbkurgtgbs, fbcmcoribcy hy hones lr suppcgbrs. Latbn tfbrb gs nl sbklnmory dorebt gn wfgkfsbkurgtgbs orb trombm. Yfbrb o ygbcm kurvb gs mbagnbm, gt klucm sbrvb os orbabrbnkb alr prgkgni ltfbr agnonkgoc ossbts gn tfb bklnldy. Gn tfb ohsbnkbla trombm hlnms, kbntroc hones konnlt rbcy ln nlntrombm gnstrudbnts alrdlnbtory plcgky lpbrotglns. ]fby dust omlpt dlrb mgrbkt dbkfongsds.]fbrbalrb, tfb ohsbnkb la trombm mbht gnstrudbnts doy cbom tl suhlptgdocdlnbtory plcgky.

]fb bxgstbnkb la rbcotgvbcy mbvbclpbm mbht dorebts klucm gnfghgt dln-btory agnonkgni la tfb mbagkgt, wfgkf kon gtsbca hb o slurkb la vucnbrohgc-gty. Kluntrgbs wgtf cbss mbvbclpbm mbht dorebts tbnm tl aokb wboenbssbsrbcotbm tl tfb dlnbtory cgne hbtwbbn mbht donoibdbnt onm agnonkgocstohgcgty. ]fbrbalrb, mbvbclpgni tfb clkoc mbht dorebt gs o hosgk stbp tfot

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;91  mos, popoglonnlu, pbmros, surtg, onm ofdbm

kluntrgbs sflucm toeb tl okfgbvb agnonkgoc stohgcgty. ]fb mbvbclpdbnt laclkoc dorebts gs o nbkbssory hut nlt suaagkgbnt klnmgtgln alr agnonkgoc sto-hgcgty, os bvgmbnkbm gn rbkbnt bpgslmbs gn mbvbclpbm dorebt bklnldgbs.9 

Alr dony bdbrigni dorebt kluntrgbs, occ tfb kfonnbcs dbntglnbm ohlvborb hrlomcy rbcbvont. ]fbgr mbht strukturbs fovb nlt ybt rbokfbm o stbomy-stotb cbvbc, gdpcygni agskoc rgses, suhlptgdoc dlnbtory plcgkgbs, lr hltf.Dlrblvbr, tfb gnvbstlr hosb gs nlt suaagkgbntcy mgvbrsgagbm, doegni vlcotgcgtygn hlnm prgkbs fgifbr tfon wlucm ltfbrwgsb hb tfb kosb.

Mbvbclpbm dorebts usuoccy ml nlt bnkluntbr tfb prlhcbds dbntglnbmohlvb, onm mbht donoibdbnt mlbs nlt aokb tfb sodb klnstrognts os gncbss doturb dorebts. Flwbvbr, mbht onm mbht donoibdbnt fovb hbkldbdlrb rbcbvont alr tfgs irlup la kluntrgbs. ]fb sforp gnkrbosb gn tfb stlke

la slvbrbgin mbht gn dony doturb bklnldgbs sgnkb 8::6 fos domb gt oportgkucorcy prbssgni gssub. Dony la tfb plgnts rogsbm ohlvb wgcc fovb tlhb ommrbssbm.

Gn sldb mbvbclpbm kluntrgbs wgtf fgif cbvbcs la ilvbrndbnt mbht, tfbgnvbstlr hosb klucm hb o slurkb la vucnbrohgcgty. Gn tfbsb kosbs, o aocc gnhlnm prgkbs klupcbm wgtf on unwgccgninbss la kluntbrportgbs tl huy tfbsbhlnms kon cbom tl cgqugmgty lr bvbn slcvbnky prlhcbds. Gn on bnvgrlndbntla gnkrbosbm stlke la mbht onm rbmukbm oppbtgtb alr ilvbrndbnt sbkurgtgbs,onltfbr pltbntgoc prlhcbd gs tfb gnkrbosb gn rbagnonkgni rgse (kousbm hy tfbrgsb gn slcvbnky/cgqugmgty rgses), wfgkf kon rogsb aunmgni klsts sgingagkontcy.]fb arodbwlre prbsbntbm ohlvb kon hb usbauc alr tfbsb kluntrgbs gn ossbss-gni tfb cbvbc la mbht, gts kldplsgtgln, tfb strukturb la tfb gnvbstlr hosb, onmrbcbvont gnstgtutglnoc ospbkts.

Xgse Dgtgiotgln Zlcgkgbs

Yfbn mbht dorebts hbkldb unstohcb onm agnonkgoc stohgcgty gs bnmonibrbmhy tfbgr hbfovglr, mbht donoibrs kon pcoy on gdplrtont rlcb gn sdlltfgni

dorebt mgstlrtglns. Murgni tfb rbkbnt iclhoc agnonkgoc krgsgs, alr bxodpcb,mbht donoibrs gn mbvbclpbm dorebts domb mbocbrsfgp rucbs dlrb acbx-ghcb gn on baalrt tl rbcgbvb tfb prbssurb ln hones‗ hoconkb sfbbts. Gn donybdbrigni dorebt kluntrgbs, ilvbrndbnts fovb gntbrvbnbm gn tfb hlnmdorebt tfrluif mgaabrbnt ouktgln dbkfongsds tl stohgcgzb hlnm prgkbs.Gn Hrozgc, alr bxodpcb, murgni o pbrglm la turhucbnkb gn 8::6, alrbgingnvbstlrs slcm laa hlnms gn tfb mldbstgk dorebt. ]fgs oktgln trgiibrbmsocbs lrmbrs hy ltfbr gnvbstlrs, cbomgni tl o sforp gnkrbosb gn ygbcms (agiurb?2.1). Mbht donoibrs gntbrvbnbm hy klnmuktgni sgductonblus huy onm sbcc

ouktglns, wfgkf wbrb sukkbssauc gn stohgcgzgni ygbcms gddbmgotbcy. Gnvbs-tlrs‗ pbrkbptgln tfot mbht donoibrs wlucm nlt occlw o sforp mbprbkgotglnla gts cgohgcgtgbs pcoybm on gdplrtont rlcb gn stohgcgzgni tfb hlnm dorebtonm prbvbntgni bxtbrnoc turhucbnkb tl sprbom onm unmbrdgnb mldbstgkagnonkgoc stohgcgty.

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;99 

Eudfla onm ]onnbr (8::2) nltb tfot mbht donoibrs orb dlrb korb-auc gn mbocgni wgtf mbht mbaoucts lr mbht mbvocuotglns tfon tfb okombdgkcgtbroturb gnmgkotbs, hbkousb tfby klnsgmbr tfb gdpokt la tfbgr mbkgsglns lnagnonkgoc systbd stohgcgty. Mbht donoibdbnt rbdogns bxtrbdbcy rbcbvontwfbn o mbht rbstrukturgni lr mbht mbaouct gs klnsgmbrbm. Gn kosbs wfbrb tfbilvbrndbnt wgcc nbbm aunmgni tl il alrworm, tfb lutkldb la sukf o mboc gs

krukgoc0 homcy klnmuktbm mbht donoibdbnt klucm gdpogr tfb ilvbrndbnt‗sohgcgty tl ebbp rogsgni dlnby baagkgbntcy gn tfb dorebts. Gn kosbs la mbhtrbstrukturgni, gt gs gdpbrotgvb alr mbht donoibrs tl prlvgmb ossbssdbnts lno hrlom ronib la tlpgks, sukf os gnstrudbnts tl hb gssubm onm bxkfonibm,fogrkut cbvbcs, onm tgdgni la lpbrotglns.

Gn Rruiuoy tfb hrlomcy vlcuntory noturb la tfb 8::; mbht rbstrukturgnisukkbbmbm gn oaabktgni gnvbstlrs lncy dgcmcy. Os o rbsuct, tfb rbstrukturgnimgm nlt sgingagkontcy modoib Rruiuoy‗s ohgcgty tl rogsb aunms gn tfb dorebt.Gnmbbm, tfb ilvbrndbnt wos ohcb tl okkbss gntbrnotglnoc dorebts alr nbw

aunmgni gn Lktlhbr 8::;, lncy agvb dlntfs oatbr tfb rbstrukturgni woskldpcbtbm. Mbht donoibdbnt fbcpbm bnsurb tfot tfb prlkbss la rbstlrgniagnonkgoc stohgcgty wos sdlltf.

]fb bxpbrgbnkb wgtf @odogko‗s mbht rbstrukturgni wos sgdgcor. Gn tfbrbkbnt post, @odogko aokbm sbvbrb mbht sustognohgcgty prlhcbds, onm dony

[lurkb0 Hrozgcgon Notglnoc ]rbosury.

Agiurb ?2.1 Huy onm [bcc Ouktglns gn Hrozgc, 8::1 onm 8::6

7.2

7.:

6.2

6.:

9.2

8:

‛8: ‛?: :‛;: ‛82 ‛?2 ‛2

?7

?6

?9

?1

?2

?=

?;

2 ?: 8: ;:?2 82

moys arld ouktgln

   y   g  b   c   m   (  p  b  r  k  b  n   t   )

  y   g  b   c   m   (  p  b  r  k  b  n   t   )

Doy 8::1 (N]N-H 8:=2) (cbat oxgs) Lktlhbr 8::6 (N]N-A 8:?9) (rgift oxgs)

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;96  mos, popoglonnlu, pbmros, surtg, onm ofdbm

gnvbstlrs klnsgmbrbm mbaouct gddgnbnt. Mbaouct wlucm fovb trgiibrbm sgi-ngagkont clssbs tl tfb agnonkgoc systbd, wfgkf wos mldgnotbm hy sbkurgtgbsmbocbrs fbovgcy bxplsbm tl mldbstgk mbht. ]fb outflrgtgbs tfbrbalrb lptbm

alr o slcutgln tfot wlucm nlt lncy rbmukb agskoc klsts wgtflut puttgni tlldukf prbssurb ln agnonkgoc gnstgtutglns hut wlucm ocsl bnsurb dorebtokkbssghgcgty.6 

Fluhbn, Eoebs, onm [kfgnosg (8::=) suiibst sldb tllcs tl ommrbssagnonkgoc stohgcgty alr bokf la tfb alcclwgni tfrbb pfosbs0 prbvbntgln(gdpcbdbntgni bxgstgni plcgkgbs tl soabiuorm agnonkgoc stohgcgty), rbdbmgocoktgln (gdpcbdbntgni prbbdptgvb dbosurbs tl rbmukb bdbrigni rgses tlagnonkgoc stohgcgty), onm rbslcutgln (rboktgvb plcgky gntbrvbntglns ogdbm otrbstlrgni agnonkgoc stohgcgty). Mbht donoibdbnt fos o rlcb tl pcoy ot bokf

stoib (tohcb ?2.?).

]ohcb ?2.? Mbht Donoibdbnt Kfonnbcs tl Agnonkgoc [tohgcgty

Kfonnbc Zrbbdptgvb plcgkyXgse dgtgiotgln

 plcgky dbkfongsds

[tlke lambht

Gssub clw-klst, clw-rgsegnstrudbnts

Mbht huyhokes,mbht bxkfonibs

Zrlagcb lambht Gssub clw-klst, clw-rgsegnstrudbnts Bxkfonib ouktglns,mbrgvotgvbs

Gnvbstlrhosb

Mgvbrsgay gnvbstlr hosb5dlngtlr gnvbstlr hosbrgse gnmgkotlrs onm omoptopprlprgotb strotbiy

Mbht huyhokes,bxkfonib ouktglns,gnvbstlrs rbcotglnsprlirod

Mbht dorebtstrukturb

Gssub hbnkfdore sbkurgtgbs5bstohcgsf opprlprgotbprgdory mbocbr onmdorebt-doebr strukturb5kllrmgnotb wgtf rbiucotlryhlmgbs5 put gn pcokb opprlprgotbcbioc arodbwlre5 kroat mbhtdorebt mbvbclpdbnt strotbiy

Kfonibs gn cbiocarodbwlre onm mbhtstrotbiy

Gnstgtutglnocospbkts

Kllrmgnotb wgtf dlnbtoryplcgky onm kosf-donoibdbntplcgky5 dogntogn illmklddungkotgln kfonnbcs5omlpt o wbcc-tfluift-lut

prlirod, toegni gntl okkluntgntbrnotglnoc proktgkbs onmmldbstgk gmglsynkrosgbs onmklnstrognts

[lurkb0 Outflrs.

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;97

Klnkcumgni Xbdores

Gnopprlprgotb mbht strukturbs onm pllr mbht donoibdbnt kon irbotcygnfghgt o slvbrbgin‗s ohgcgty tl bnsurb agnonkgoc stohgcgty hy oaabktgni gnvbs-tlrs‗ kluntry rgse pbrkbptgln onm bxokbrhotgni prbssurbs ln agnonkgoc gnstg-tutglns‗ hoconkb sfbbts, gnkldbs, onm kopgtoc rbsbrvbs. [ldb la tfbsb baabktsoppbor bvgmbnt gn tfb rbkbnt krgsgs bpgslmbs, murgni wfgkf rbcotgvbcy pllrpuhcgk mbht plrtalcgl gngtgoc plsgtglns gn sldb kluntrgbs omvbrsbcy oaabktbmhltf bklnldgk pbralrdonkb onm agnonkgoc stohgcgty.

[lunm mbht donoibdbnt strotbigbs kon hb gnstrudbntoc gn bnsurgniagnonkgoc stohgcgty, hy krbotgni o cgohgcgty strukturb alr puhcgk mbht tfotsustogns clw cbvbcs la rbagnonkgni rgse alr tfb slvbrbgin tfrluiflut tfbhusgnbss kykcb onm hy sbkurgni tfb slvbrbgin‗s ohgcgty tl gssub tfb nbkbssoryvlcudb la mbht ot o rboslnohcb klst gn o mlwnswgni. Mbht donoibrs fovbo hrlom ronib la rbsplnsghgcgtgbs, gnkcumgni alrducotgni onm gdpcbdbntgnitfb strotbiy5 mbtbrdgngni tfb gnstrudbnts tfot wgcc hb laabrbm tl tfb dorebtonm tfbgr tgdgni5 onm fonmcgni gnstgtutglnoc dottbrs onm gntbroktgln wgtfgnvbstlrs, toegni gntl okklunt gnvbstlrs‗ rgse klnstrognts onm oppbtgtbs otbvbry plgnt gn tgdb, occ la wfgkf oaabkt agnonkgoc stohgcgty.

Gn ommgtgln, on latbn lvbrcllebm klntrghutgln la o slunm mbht donoib-dbnt strotbiy gs tfb baagkoky la toktgkoc cgohgcgty donoibdbnt lpbrotglns, gn

wfgkf mbht donoibrs krbmghcy gntbrvbnb gn mldbstgk mbht dorebts gn bdbr-ibnky sgtuotglns onm qugkecy rbhugcm gnvbstlr klnagmbnkb. ]fb clw cbvbcla dorebt mbvbclpdbnt gn dlst mbvbclpgni kluntrgbs, tfb stgcc vucnbrohcbstrukturbs la mbht gn dony bdbrigni dorebts, onm tfb rgsb gn mbht cbvbcs gn onudhbr la mbvbclpbm bklnldgbs doeb slunm slvbrbgin mbht donoibdbntbvbn dlrb kfoccbnigni alr iclhoc agnonkgoc stohgcgty gn tfb auturb, portgku-corcy igvbn tfb fgifbr iclhoc aunmgni prbssurbs. Rnmbrstonmgni tfb rgsesonm tfb kfonnbcs la tfbgr tronsdgssgln tl agnonkgoc stohgcgty gs on bssbntgocbcbdbnt la alrducotgni opprlprgotb plcgkgbs alr strbnitfbngni mldbstgk

onm gntbrnotglnoc agnonkgoc stohgcgty.

Nltbs

]fgs kfoptbr gs hosbm ln on lnilgni stumy hy tfb outflrs ln tfb 8::9‛:7 iclhocbklnldgk onm agnonkgoc krgsgs, krlss-kluntry bxpbrgbnkbs wgtf mbht cgohgcgty‛donoibdbnt lpbrotglns, onm tfbgr gdpcgkotglns alr puhcgk sbktlr hoconkb sfbbtsonm agnonkgoc stohgcgty. ]fb vgbws bxprbssbm gn tfgs kfoptbr orb tflsb la tfboutflrs onm sflucm nlt hb ottrghutbm tl tfb Gntbrnotglnoc Dlnbtory Aunm, gtsBxbkutgvb Hlorm, lr gts donoibdbnt.

  ?. [ldb stumgbs bxodgnb tfb klntrghutgln la tfb usb la (puhcgk) mbht os ostrotbigk kldplnbnt la plcgky mgrbktbm ot gnkrbosgni tfb cbvbc onm pokb la bklnldgkirlwtf. Alr bxodpcb, Ohhos onm Kfrgstbnsbn (8::9) mbvbclp o dlmbc tfot sflwstfot dlmbrotb cbvbcs la mbht kon gnkrbosb irlwtf onm fgifbr cbvbcs kon unmbrdgnbgt. ]fby klnkcumb tfot ga mldbstgk mbht gs dorebtohcb onm port la gt gs fbcm lutsgmbtfb honegni systbd, gt kon klntrghutb tl bklnldgk irlwtf.

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;6:  mos, popoglonnlu, pbmros, surtg, onm ofdbm

  8. Cgqugmgty gs latbn ocsl bnsurbm hy occlwgni mldbstgk mbht tl hb usbm os klc-cotbroc ot tfb kbntroc hone‗s cbnmgni wgnmlw.

;. Dukf os gn strotbigk ossbt occlkotgln, rgse fbmigni bntogcs pgkegni o plrtalcgl

okrlss ossbt kcossbs wflsb rbturns bxfghgt nbiotgvb lr wboe klrrbcotgln prlpbrtgbs.  =. Gn ommgtgln tl gnmgkotgni tfb gnkrbosbm nbbm alr gssuonkb gn mbvbclpbm dor-ebt bklnldgbs alcclwgni tfb rbkbnt iclhoc agnonkgoc krgsgs, tfgs pottbrn rbacbkts tfbpfbnldbnln la iclhoc gdhoconkbs. Ln tfb slvbrbgin ossbt sgmb, sukf gdhoconkbsorb kopturbm hy huriblngni cbvbcs la kbntroc hone alrbgin bxkfonib rbsbrvbs onmslvbrbgin wboctf aunm ossbt hosbs gn o nudhbr la bdbrigni dorebts.

2. MQ:? gs o dbosurb tfot kopturbs tfb kfonib gn tfb vocub la tfb ossbt lrplrtalcgl hosbm ln o kfonib la ? hosgs plgnt gn tfb gntbrbst rotb.

  1. ]fb bxtbnsgvb rbcgonkb la Osgon klrplrotbs ln aunmgni tl clkoc agnonkgocgnstgtutglns gn tfb ?77:s fos latbn hbbn kgtbm os o do`lr aoktlr klntrghutgni tl tfbOsgon agnonkgoc krgsgs la ?779‛77.

  9. Gn ibnbroc, tfbrb gs nl sgdpcb kousocgty hbtwbbn tfb stoib la agnonkgoc dorebt

mbvbclpdbnt onm agnonkgoc stohgcgty.6. ]fb ilvbrndbnt usbm tfb kocc lptgln aboturb la tfb lcm hlnms tl gnmukb

gnvbstlrs tl bxkfonib tflsb fgifbr klupln‛hborgni gnstrudbnts alr nbw hlnmswgtf clwbr kluplns.

Xbabrbnkbs

Ohhos, [. D., onm @. B. Kfrgstbnsbn. 8::9. –]fb Xlcb la Mldbstgk Mbht Dorebtsgn Bklnldgk Irlwtf0 On Bdpgrgkoc Gnvbstgiotgln alr Clw-Gnkldb Kluntrgbsonm Bdbrigni Dorebts.— GDA Ylregni Zopbr :9/?89, Gntbrnotglnoc DlnbtoryAunm, Yosfgnitln, MK.

Occbn, D., K. Xlsbnhbri, K. Ebccbr, H. [btsbr, onm N. Xluhgnl. 8::8. –O Hoconkb[fbbt Opprlokf tl Agnonkgoc Krgsgs.— GDA Ylregni Zopbr :8/8?:, GntbrnotglnocDlnbtory Aunm, Yosfgnitln, MK.

HG[ (Hone alr Gntbrnotglnoc [bttcbdbnts). 8::9. –Agnonkgoc [tohgcgty onm ClkocKurrbnky Hlnm Dorebts.— KIA[ Zopbr 86, Klddgttbb ln tfb Iclhoc Agnonkgoc[ystbd, Hosbc, [wgtzbrconm.

Hlccb, D., H. Xltfbr, onm G. Foelhyon. 8::1. –]fb Cbvbc onm Kldplsgtgln laZuhcgk [bktlr Mbht gn Bdbrigni Dorebt Krgsbs.— GDA Ylregni Zopbr :1/?61,Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Hlrbnsztbgn, B., D. Kfodln, L. @bonnb, Z. Dourl, onm @. Pbttbcdbybr. 8::=.–[lvbrbgin Mbht [trukturb alr Krgsgs Zrbvbntgln.— GDA Lkkosglnoc Zopbr 8;9,Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Krlkebt, O. 8::6. –Dorebt Cgqugmgty onm Agnonkgoc [tohgcgty.— Agnonkgoc [tohgcgtyXbvgbw. [pbkgoc Gssub ln Cgqugmgty ?? (Abhruory), Honqub mb Aronkb, Zorgs.

Iuskgno, O. 8::6. –Gdpokt la Dokrlbklnldgk, Zlcgtgkoc, onm Gnstgtutglnoc Aoktlrsln tfb [trukturb la Ilvbrndbnt Mbht gn Bdbrigni Dorebt Kluntrgbs.— GDAYlregni Zopbr :6/8:2, Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Fluhbn, O., @. Eoebs, onm I. [kfgnosg. 8::=. –]lworm o Arodbwlre alr [oab-iuormgni Agnonkgoc [tohgcgty.— GDA Ylregni Zopbr :=/?:?, Gntbrnotglnoc Dln-

btory Aunm, Yosfgnitln, MK. @bonnb, L., onm O. Iuskgno. 8::1. –Ilvbrndbnt Mbht gn Bdbrigni Dorebt Klun-

trgbs0 O Nbw Moto [bt.— GDA Ylregni Zopbr :1/76, Gntbrnotglnoc DlnbtoryAunm, Yosfgnitln, MK.

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donoigni puhcgk mbht onm agnonkgoc stohgcgty ;6?

 @bonnbou, [., onm K. Z. Qbrmgo. 8::2. –Xbmukgni Agnonkgoc Qucnbrohgcgty0 ]fb Mbvbc-lpdbnt la tfb Mldbstgk Ilvbrndbnt Hlnm Dorebt gn Dbxgkl.— HG[ _uortbrcyXbvgbw (Mbkbdhbr)0 72‛?:9.

Ebccbr, K., Z. Eunzbc, onm Dorkls [lutl. 8::9. –Dbosurgni [lvbrbgin Xgse gn ]ur-eby0 On Oppcgkotgln la tfb Klntgnibnt Kcogds.— GDA Ylregni Zopbr YZ/:9/8;,Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

Eruidon, Z. ?797. –O Dlmbc la Hoconkb la Zoydbnts Krgsgs.— @lurnoc la Dlnby,Krbmgt, onm Honegni  ??0 ;??‛82.

Eudfla, D., onm B. ]onnbr. 8::2. –Ilvbrndbnt Mbht0 O Eby Xlcb gn AgnonkgocGntbrdbmgotgln.— GDA Ylregni Zopbr :2/29, Gntbrnotglnoc Dlnbtory Aunm,Yosfgnitln, MK.

Zopoglonnlu, D. 8::7. –Bxkfonib Xotb Xgse Dbosurbdbnt onm DonoibdbntGssubs onm Opprlokfbs alr Zuhcgk Mbht Donoibrs.— [lutf-Bostbrn Burlpb @lur-

noc la Bklnldgks 9 (?)0 9‛;=.Zbgrgs, [. 8:?:. –Alrbgin Zortgkgpotgln gn Bdbrigni Dorebts‗ Clkoc Kurrbnky Hlnm

Dorebts.— GDA Ylregni Zopbr ?:/66, Gntbrnotglnoc Dlnbtory Aunm, Yosfgni-tln, MK.

Xbgnfort, K., onm E. Xlilaa. 8::7. ]fgs ]gdb Gs Mgaabrbnt0 Bgift Kbnturgbs laAgnonkgoc Alccy. Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.

Xlsbnhbri, Kfrgstlpf, Glonngs Focgegos, Hrbtt Flusb, Kfrgstgon Ebccbr, @bnsNystbmt, Ocbxonmbr Zgtt, onm Hrom [btsbr. 8::2. Mbht-Xbcotbm Qucnbrohgcgtgbsonm Agnonkgoc Krgsbs0 On Oppcgkotgln la tfb Hoconkb [fbbt Opprlokf tl Bdbri-gni Dorebt Kluntrgbs. GDA Lkkosglnoc Zopbr 8=:. Yosfgnitln, MK0 Gntbrno-tglnoc Dlnbtory Aunm.

[kfgnosg, I. 8::=. –Mbagngni Agnonkgoc [tohgcgty.— GDA Ylregni Zopbr :=/?69,Gntbrnotglnoc Dlnbtory Aunm, Yosfgnitln, MK.

[y, O. 8::2. –Donoigni tfb Gntbrbst Xotb Xgse la Gnmgon Hones‗ Ilvbrndbnt[bkurgtgbs Flcmgnis.— GDA Ylregni Zopbr :2/96, Gntbrnotglnoc Dlnbtory Aunm,Yosfgnitln, MK.

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;6;

?1

Zuhcgk Mbht Donoibdbnt gn

Bdbrigni Dorebt Bklnldgbs0Fos ]fgs ]gdb Hbbn Mgaabrbnt<

Zfgccgp X. M. Onmbrsln, Onmbrsln Koputl [gcvo,onm Ontlngl Qbconmgo-Xuhgonl

 ]fb iclhoc agnonkgoc krgsgs la 8::6‛:7 wos tfb wlrst tfb wlrcm fossbbn sgnkb tfb ?7;:s gn hltf gntbnsgty onm iclhoc rbokf. Bdbri-gni dorebt kluntrgbs wbrb nlt gddunb0 ot tfb fbgift la tfb krgsgs,

tfb Bdbrigni Dorebts Hlnm Gnmbx Iclhoc (BDHGI) sow on gnkrbosb gnsprbom la dlrb tfon 9:: hosgs plgnts arld gts clw plgnt gn @unb 8::9, onmgntbrnotglnoc kopgtoc dorebts wbrb baabktgvbcy kclsbm tl gssubrs alr sbvbrocdlntfs. Wbt mbspgtb tfb sbvbrgty la tfb iclhoc krgsgs, gt mgm nlt rbsuct gn onbdbrigni dorebt slvbrbgin mbht krgsgs la tfb typb sbbn gn tfb ?77:s onm

borcy 8:::s.]fgs kfoptbr rbvgbws tfb rboslns wfy tfb gdpokt la tfb iclhoc krgsgs ln

bdbrigni dorebts wos sl dukf dgcmbr tfon gt wos gn borcgbr bpgslmbs onmbxodgnbs tfb rbsplnsbs la mbht donoibdbnt laagkgocs gn bdbrigni dorebtstl tfb ropgmcy kfonigni dorebt bnvgrlndbnt tfby aokbm.? ]fb agrst sbk-tgln lutcgnbs tfb lutkldbs la dokrlbklnldgk plcgky onm kfonibs gn tfbkldplsgtgln la puhcgk mbht lvbr tfb mbkomb hbignngni gn 8:::. Gt sflwstfot o vgrtulus kgrkcb la gdprlvbm dokrlbklnldgk aunmodbntocs, rbmukbmpuhcgk mbht cbvbcs, onm dlrb baabktgvb donoibdbnt la rgse gn puhcgk mbht

plrtalcgls prlvgmbm dlst kluntrgbs wgtf tfb rbsgcgbnkb tl rgmb lut tfb krgsgsonm om`ust hlrrlwgni pcons tl klpb wgtf omvbrsb dorebt klnmgtglns. ]fbsbklnm sbktgln rbvgbws tfb gdpokt ln okkbss tl agnonkb murgni tfb pboe ladorebt mgsclkotgln. ]fb tfgrm sbktgln, hosbm ln tfb rbsucts la o survby kln-muktbm hy tfb outflrs, bxodgnbs flw mbht donoibrs gn bdbrigni dorebts

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;6=  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

rbsplnmbm tl tfb krgsgs.8 ]fb cost sbktgln mrows sldb cbsslns arld tfb krgsgsalr auturb dokrlbklnldgk plcgky onm puhcgk mbht donoibdbnt strotbigbs.

Krgsgs Zrbporbmnbss gn Bdbrigni Dorebts

Bdbrigni dorebts bn`lybm on unprbkbmbntbm pbrglm murgni wfgkf hltfstrlni dokrlbklnldgk aunmodbntocs onm o hbngin iclhoc bklnldgk bnvg-rlndbnt gnkrbosbm tfb sklpb alr gdpcbdbntotgln la mbht strotbigbs tfotklucm rbmukb tfbgr rgse tl sflkes. Os o rbsuct, mbht donoibrs gn dlstbdbrigni dorebt bklnldgbs wbrb ohcb tl gdprlvb tfbgr mbht plrtalcgls.

Fgstlrgkoccy, on unalrtunotb kldhgnotgln la wboe dokrlbklnldgk aun-

modbntocs onm mbht donoibdbnt proktgkbs fom bxokbrhotbm tfb gdpokt laprbvglus bklnldgk krgsbs onm mlwnturns. ]fgs tgdb wos mgaabrbnt.

Gn lrmbr tl iouib tfb sbo kfonib gn tfb dokrlbklnldgk skbnorgl onmflw gt gnacubnkbm mbht donoibdbnt proktgkbs, wb stort hy gccustrotgnitfb sgingagkont sfgat lhsbrvbm gn alur dokrlbklnldgk mgdbnsglns0 agskocokklunts, dlnbtory plcgky, irlwtf, onm bxtbrnoc okklunts. ]fb klntrosthbtwbbn tfb agrst ybors la tfb nbw kbntury onm tfb tfrbb ybors tfot prb-kbmbm tfb krgsgs (8::2‛:9) gs strgegni.; 

Agskoc okklunts gdprlvbm rbdoreohcy gn bdbrigni dorebts, wgtf CotgnOdbrgko sflwgni tfb sforpbst kfonibs. Os o pbrkbntoib la IMZ, ilv-brndbnts‗ prgdory hoconkbs wbrb lvbrwfbcdgnicy plsgtgvb lr hbkldgniplsgtgvb murgni tfgs pbrglm, onm lvbrocc humibt hoconkbs, os o pbrkbntoibla IMZ, gdprlvbm stbomgcy okrlss occ rbiglns (agiurb ?1.?). ]fbsb gdprlvb-dbnts wbrb krukgoc gn hllstgni gnvbstlr klnagmbnkb tfot bdbrigni dorebtsklucm hb hbttbr plsgtglnbm tl omlpt kluntbrkykcgkoc plcgkgbs sflucm klnmg-tglns kfonib”octfluif abw wlucm gdoignb tfb swbbpgni iclhoc rbkbssglntfot wos ohlut tl kldb.

Dlnbtory plcgky gn bdbrigni dorebts bxpbrgbnkbm o pbrglm la gnkrbosbmkrbmghgcgty, igvbn tfot gnacotgln rbdognbm rbcotgvbcy stohcb ot fgstlrgkoccy

clw cbvbcs, mbspgtb lkkosglnoc prbssurbs arld klddlmgty prgkbs. Irbotbrprgkb stohgcgty onm plsgtgvb bxpbktotglns gn bdbrigni dorebts fbcpbmhllst klnagmbnkb gn clnibr-tbrd hlnms, gnkcumgni ilvbrndbnt hlnms.Gn dony kluntrgbs, bspbkgoccy tflsb tfot fom fgstlrgkoccy hbbn pcoiubmhy vlcotgcb onm fgif gnacotgln cbvbcs, tfgs skbnorgl povbm tfb woy alrgntbrbst rotb kuts, tfb mbvbclpdbnt la clkoc kurrbnky ygbcm kurvbs, onm tfbcbnitfbngni la tfb ovbroib tgdb tl doturgty la mldbstgk ilvbrndbnt mbht(os mgskussbm hbclw).

Dlst bdbrigni dorebts bn`lybm o clni pbrglm murgni wfgkf agskoc gnmg-

kotlrs, gntbrbst rotbs, onm IMZ irlwtf”tfb eby mbtbrdgnonts la mbhttl IMZ rotgls”gdprlvbm, cbomgni tl o rlhust mlwnworm trbnm gn mbhttl IMZ rotgls gn vgrtuoccy occ rbiglns (agiurbs ?1.8). Hbtwbbn 8::: onm8::6, rbmuktglns gn tfb mbht tl IMZ rotgls wbrb portgkucorcy sforp gn[uh-[oforon Oargko onm Kbntroc onm Bostbrn Burlpb. Hbtwbbn 8::2 onm

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;62

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[lutf Osgo

o. Zrgdory hoconkb os o pbrkbntoib la IMZ

h. Lvbrocc humibt hoconkb os o pbrkbntoib la IMZ

Bost Osgo onm Zokgagk Burlpb onm Kbntroc Osgo

Dgmmcb Bost onm Nlrtf OargkoCotgn Odbrgko onm tfb Korghhbon

[uh-[oforon Oargko

Agiurb ?1.? Zrgdory onm Lvbrocc Hoconkb os o Zbrkbntoib laIMZ, hy Xbigln, 8:::‛:7

[lurkb0 Ylrcm Hone Cgvb Motohosb.

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;61  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

8::6, Cotgn Odbrgko bxpbrgbnkbm tfb coribst pbrkbntoib mbkrbosb gn tfbovbroib mbht tl IMZ rotgl. Lut la lur sodpcb la 8= bdbrigni dorebts,1 kluntrgbs sflwbm rbmuktglns la ohlut 2 pbrkbnt gn tfb mbht tl IMZ rotgl,?? bxpbrgbnkbm rbmuktglns irbotbr tfon 8: pbrkbnt, onm lncy 9 fom fgifbrrotgls hy tfb bnm la 8::6 tfon gn 8:::.

Gdprlvbdbnts gn bdbrigni dorebts‗ bxtbrnoc okklunts rbacbktbm tfbsb

kluntrgbs‗ aoccgni mbht cbvbcs onm mgdgngsfgni vucnbrohgcgty tl sflkes onmrbvbrsocs gn kopgtoc aclws (agiurb ?1.;). Bxtbrnoc okklunt gdprlvbdbntswbrb mrgvbn hy kykcgkoc aoktlrs tfot cbm tl bxtrbdbcy fgif gntbrnotglnoccgqugmgty klnmgtglns, hut prloktgvb plcgkgbs tl rbmukb mbht vucnbrohgcgtgbs(alr bxodpcb, huyhokes la bxtbrnoc mbht onm o sfgat tl aunmgni gn clkocdorebts) wbrb fgifcy gnstrudbntoc gn tfb ropgm pokb la kfonib gn bxtbrnocmbht vucnbrohgcgty gnmgkotlrs. ]fgs dorebm rbmuktgln gn vucnbrohgcgty rbp-rbsbntbm o strukturoc kfonib gn sldb bklnldgbs tl hrboe lut la o nbiotgvbsflke kykcb bxpbrgbnkbm sbvbroc tgdbs gn tfb post, wfbn prbssurbs ln tfb

kurrbnky onm gnkrbosbm rgse ovbrsgln fom o strlni agrst-lrmbr gdpokt lnagskoc onm mbht sustognohgcgty gnmgkotlrs.

]fb 8= kluntrgbs tfot orb tfb alkus la tfgs kfoptbr bxpbrgbnkbm ibnbroccyplsgtgvb trbnms5 sldb ltfbr dgmmcb-gnkldb kluntrgbs mgm nlt toeb omvon-toib la tfb –illm tgdbs— tl strbnitfbn tfbgr dokrlbklnldgk oiirbiotbs

8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9

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Bost Osgo onm Zokgagk Burlpb onm Kbntroc Osgo

Dgmmcb Bost onm Nlrtf OargkoCotgn Odbrgko onm tfb Korghhbon

[uh-[oforon Oargko

Agiurb ?1.8 Kbntroc Ilvbrndbnt Mbht os o Zbrkbntoib laIMZ, hy Xbigln, 8:::‛:9

[lurkb0 Kbntroc ilvbrndbnt mbht, Ylrcm Hone Cgvb Motohosb5 IMZ agiurbs,Ylrcm Mbvbclpdbnt Gnmgkotlrs motohosb.

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;69 

onm rbmukb tfb vucnbrohgcgtgbs tl bxtbrnoc sflkes. Gn tfb Bostbrn Korghhbon,alr bxodpcb, prgdory agskoc mbagkgts kldhgnbm wgtf noturoc mgsostbrs onmsclw irlwtf rbsuctbm gn o klntgnubm hugcmup la puhcgk mbht, rbokfgni cgdgtstfot rogsb sustognohgcgty klnkbrns.= Gn Bostbrn Burlpb, Rerognb aogcbm tl klr-rbkt bxtbrnoc onm agskoc gdhoconkbs, wfgkf, kldhgnbm wgtf tfb aroigcgty lagts honegni sbktlr, gnkrbosbm tfb bxplsurb la tfb prgvotb sbktlr tl rbvbrsocs

la kopgtoc aclws. ]fb pbralrdonkb la tfbsb kluntrgbs unmbrsklrbs tfb nbbmtl toeb omvontoib la tfb hbngin pfosb la tfb kykcb tl ommrbss mbht prlh-cbds, os lnkb o krgsgs fgts tfb lptglns alr oktgln qugkecy norrlw.2 

Ln tfb hoke la fboctfgbr dokrlbklnldgk aunmodbntocs onm o hbnginbxtbrnoc bnvgrlndbnt, mbht donoibrs bnignbbrbm o sgingagkont trons-alrdotgln la ilvbrndbnt mbht plrtalcgls. ]fby rbmukbm bxplsurbs tlkfonibs gn bxkfonib onm gntbrbst rotbs hy alkusgni ln mldbstgk mbhtagnonkgni, gnkcumgni o rbmuktgln gn aclotgni-rotb hlnms. ]fb sustognbmgnkrbosb gn tfb sforb la mldbstgk mbht fbcpbm dgtgiotb tfb mbpbnmbnkb

arld bxtbrnoc aunmgni slurkbs onm tfb bxplsurb tl kurrbnky rgse. Dlrbgdplrtont, tfb strukturb la mldbstgk mbht gtsbca bxpbrgbnkbm o sgingagkonttronsalrdotgln, os ilvbrndbnt outflrgtgbs bdhorebm ln dorebt mbvbclp-dbnt prlirods tfot occlwbm mbht donoibrs tl bxtbnm tfb ovbroib cgab lamldbstgk mbht, portcy hy gssugni clni-tbrd agxbm-rotb gnstrudbnts.1 ]fb

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[lutf Osgo

Bost Osgo onm Zokgagk Burlpb onm Kbntroc Osgo

Dgmmcb Bost onm Nlrtf Oargko Cotgn Odbrgko onm tfb Korghhbon

[uh-[oforon Oargko

Agiurb ?1.; Bxtbrnoc Mbht os o Zbrkbntoib la Bxplrts laIllms onm [brvgkbs, hy Xbigln, 8:::‛:9

[lurkb0 Ylrcm Mbvbclpdbnt Gnmgkotlrs motohosb.

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;66  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

prlirbss ottognbm gn tfb post mbkomb portcy arbbm mbht donoibrs gn bdbri-gni dorebts arld kfllsgni hbtwbbn clni-tbrd agxbm-rotb gnstrudbntsmbnldgnotbm gn alrbgin kurrbnky onm sflrt-tbrd gnstrudbnts gn clkoc

kurrbnky. ]fgs tromgtglnoc tromb-laa rbprbsbnts o kflgkb hbtwbbn kurrbnkyrgse onm gntbrbst rotb rgse.

Bxplsurb tl Alrbgin Kurrbnky Hlrrlwgni 

]fb ;= kluntrgbs tfot mbaouctbm lr rbskfbmucbm tfbgr bxtbrnoc mbht hbtwbbn?76: onm 8::: gccustrotb tfot bxkbssgvb alrbgin kurrbnky hlrrlwgni wboe-bns o kluntry‗s agnonkgoc stohgcgty hy bxplsgni gt tl summbn stlps la kopgtocaclws lr mrostgk mbkcgnbs gn tfb vocub la tfb clkoc kurrbnky (Xbgnfort onm

Xlilaa 8::7).9

  Gn sbvbroc bdbrigni dorebts, mbpbnmbnkb ln tfb gntbr-notglnoc kopgtoc dorebts rbsuctbm gn cgqugmgty krgsbs wfbn tfbsb dorebtskclsbm onm ilvbrndbnts wbrb unohcb tl rlcc lvbr tfbgr alrbgin kurrbnkylhcgiotglns. Bdbrigni dorebts ocsl bxpbrgbnkbm bpgslmbs la dossgvb mbvoc-uotglns5 wfbn kldhgnbm wgtf fgif mbht cbvbcs, tfbsb mbvocuotglns kousbmmbht-sbrvgkgni klsts tl rbprbsbnt sukf corib sforbs la rbvbnubs tfot ilvbrn-dbnts wbrb unwgccgni tl dbbt tfbgr lhcgiotglns wgtf bxtbrnoc krbmgtlrs. ]lsldb bxtbnt, tfb strbnitfbngni la tfb ilvbrndbnt mbht plrtalcgls klucm hbgntbrprbtbm os o mbht donoibr‗s plcgky rbsplnsb tl tfb bxtbrnoc mbht krgsbsbxpbrgbnkbm gn tfb ?76:s onm ?77:s.

Dlst bdbrigni dorebt ilvbrndbnts domb sgingagkont prlirbss gn rbmuk-gni tfb bxplsurb la ilvbrndbnt agnonkbs tl alrbgin hlrrlwgni”sldb tltfb plgnt la hbkldgni nbt alrbgin kurrbnky krbmgtlrs.6 ]fgs kon hb sbbngn tfb bvlcutgln la tfb nbt alrbgin kurrbnky mbht, kockucotbm os tfb irlssilvbrndbnt alrbgin kurrbnky mbht dgnus gntbrnotglnoc rbsbrvbs. ]wl la tfbalur dlst gnmbhtbm kluntrgbs gn 8::?, Hrozgc onm tfb Xussgon Abmbrotgln,fom hbkldb nbt krbmgtlrs hy 8::7 (agiurb ?1.=). Dbxgkl onm ]ureby fomrbmukbm tfbgr kldhgnbm nbt alrbgin bxkfonib mbht arld $?8; hgccgln gn8::? tl $=2 hgccgln gn 8::7. Dlst gdprbssgvb gs tfb kosb la Kfgno, wfgkf

bxpbrgbnkbm o agvbalcm gnkrbosb gn gts gntbrnotglnoc rbsbrvbs, arld ohlut$8:: hgccgln gn 8::? tl dlrb tfon $8 trgccgln gn 8::7 wfgcb klntroktgni gtsalrbgin bxkfonib mbht arld $=7 hgccgln tl $;2 hgccgln.

Octfluif gntbrnotglnoc rbsbrvbs doy ocsl hb kldprldgsbm hy o fgifcbvbc la prgvotb bxtbrnoc mbht, tfbrb gs nl qubstgln tfot tfbgr okkuducotglnmrodotgkoccy rbmukbm tfb lvbrocc bxplsurb la tfb bdbrigni dorebts irlupstumgbm fbrb.7 Gn lur sodpcb la bdbrigni dorebts, tfb wbgiftbm ovbroib latfb rotgl la tltoc bxtbrnoc mbht tl gntbrnotglnoc rbsbrvbs mrlppbm arld ;.2gn 8::? tl ?.8 gn 8::7 (agiurb ?1.2). ]fb stbomgcy mbkcgngni trbnm lvbr tfb

mbkomb wos lncy scgiftcy rbvbrsbm hy tfb iclhoc agnonkgoc krgsgs gn 8::6.]fb okkuducotgln la gntbrnotglnoc rbsbrvbs pcoybm o do`lr rlcb gnrbmukgni tfb lvbrocc sflrt alrbgin kurrbnky plsgtgln gn bdbrigni dorebts.O sgingagkont sfgat gn tfb kurrbnky kldplsgtgln la ilvbrndbnt mbht plrtal-cgls wos ocsl on gdplrtont klntrghutlr. ]fb rbmuktgln gn alrbgin kurrbnky

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;67

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   ]  u  r   e  b  y

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alrbgin bxkfonib rbsbrvbs (cbat oxgs)

alrbgin bxkfonib mbht (cbat oxgs)

nbt alrbgin bxkfonib mbht tl IMZ (rgift oxgs)

Agiurb ?1.= Irlss Bxtbrnoc Mbht onm Gntbrnotglnoc Xbsbrvbsla [bcbktbm Kluntrgbs, 8::? onm 8::7

[lurkb0 @Z Dlrion 8::7.Nltb0 Agiurbs bxkcumb Kfgno.

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;7:  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

  b  x   t  b  r  n  o   c   m  b   h   t   /   a  l  r  b   g  i  n  b  x  k   f  o  n  i  b

  r  b  s  b  r  v  b  s

8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6 8::7

=.:

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8.2

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Agiurb ?1.2 Xotgl la ]ltoc Bxtbrnoc Mbht tl AlrbginBxkfonib Xbsbrvbs gn [bcbktbm Bdbrigni Dorebts, 8::?‛:7

[lurkb0 @Z Dlrion 8::7.Nltb0 Ovbroibs orb wbgiftbm hy bxtbrnoc mbht.

mbht wos okfgbvbm tfones tl o poroccbc gnkrbosb gn mldbstgk mbht. ]fb(wbgiftbm) ovbroib rotgl la bxtbrnoc tl mldbstgk mbht alr sbcbktbm bdbri-gni dorebts mrlppbm stbomgcy, arld :.92 tgdbs gn 8::: tl :.88 tgdbs gn8::7 (agiurb ?1.1).?: ]fb sforb la bxtbrnoc mbht mbkcgnbm okrlss occ rbiglns5gt wos dlst gdprbssgvb gn Burlpb onm Cotgn Odbrgko. Gn Burlpb tfb bxtbr-noc tl mldbstgk mbht rotgl pcuddbtbm dlnltlngkoccy, arld 8.26 gn 8:::tl :.26 gn 8::7. Gn Cotgn Odbrgko, tfb rotgl gnkrbosbm gn 8::? onm 8::8hbkousb la tfb agnonkgoc turdlgc gn Hrozgc,?? onm gnkrbosbm alrbgin hlrrlw-

gni kldhgnbm wgtf o mbvocuotgln gn Klcldhgo, hut tfb wbgiftbm ovbroibabcc arld dlrb tfon ?.: gn 8::8 tl :.8 gn 8::7.?8 Kfonibs wbrb ocsl sgi-ngagkont gn Osgo, wfbrb tfb (wbgiftbm) rotgl abcc arld :.2 tl :.?2.

]fb rbcotgvbcy swgat om`ustdbnt gn tfb strukturb la tfb mbht stlke wosplssghcb tfones tl tfb gdpcbdbntotgln la o sbrgbs la cgohgcgty donoib-dbnt lpbrotglns tfot octbrbm tfb strukturb la tfb bxgstgni mbht stlke. Gnocc rbiglns, mbht donoibrs prbpogm gntbrnotglnoc hlnms, ductgcotbroc onmhgcotbroc mbht, lr hltf, tfrluif huyhokes lr bxkfonibs. Gn ommgtgln, alrtfb agrst tgdb bvbr, Hrozgc, Klcldhgo, tfb Oroh Xbpuhcgk la Biypt, onm

Rruiuoy gssubm iclhoc hlnms mbnldgnotbm gn clkoc kurrbnkgbs gn tfb gntbr-notglnoc kopgtoc dorebts. Bvbn ga tfb klntrghutgln la tfbsb sbkurgtgbs tltfb tronsalrdotgln la tfb kldplsgtgln la tfb ilvbrndbnt mbht plrtalcglswos dorignoc (bxkbpt alr Rruiuoy), tfbsb gssuonkbs cbm tl o qubstglngnila tfb –lrgignoc sgn fypltfbsgs— onm lpbnbm o nbw agnonkgni kfonnbc tl

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;7?

mbht donoibrs (Bgkfbnirbbn onm Fousdonn ?777). Alr Hrozgc tfgs kfon-nbc occlwbm tfb ilvbrndbnt tl gssub agxbm-rotb sbkurgtgbs gn rbogs ot clnibrdoturgtgbs tfon tflsb pcokbm gn clkoc dorebts, krbotgni o vocuohcb rbabrbnkbalr tfb iromuoc bxtbnsgln la tfb kurvb mldbstgkoccy (os mgskussbm gn dlrbmbtogc gn tfb nbxt sbktgln).

]fb rbmuktgln la alrbgin bxkfonib bxplsurb gs ocsl klnagrdbm hy tfbstrukturb la lutstonmgni sbkurgtgbs gssubm hy bdbrigni dorebts rbplrtbm gntfb quortbrcy stotgstgks la tfb Hone alr Gntbrnotglnoc [bttcbdbnts (HG[).?; Okklrmgni tl tfb HG[, gntbrnotglnoc lutstonmgni hlnms onm nltbs gssubmhy bdbrigni dorebt ilvbrndbnts os o prlplrtgln la tfbgr tltoc gssuonkbmrlppbm arld dlrb tfon ;: pbrkbnt gn ?776 tl ohlut ?: pbrkbnt gn 8::7(agiurb ?1.9). ]fgs rotgl vorgbm wgmbcy okrlss rbiglns. Gn Osgo sbkurgtgbsgssubm gn alrbgin dorebts tromgtglnoccy okkluntbm alr cbss tfon 9 pbrkbnt latfb tltoc5 gn Cotgn Odbrgko, untgc 8::8 dlrb tfon foca la tfb lutstonmgni

sbkurgtgbs wbrb gssubm gn tfb gntbrnotglnoc kopgtoc dorebts. ]fb mbkcgngnitrbnm gn tfb rotgl alr bdbrigni dorebts wos laasbt hy Osgo, wflsb stlkela mldbstgk sbkurgtgbs gn 8::7 wos agvb tgdbs tfot la Cotgn Odbrgko onm8.2 tgdbs tfot la Burlpb. Gnmbbm, tfb rbcotgvbcy clw onm stohcb sforb lagntbrnotglnoc sbkurgtgbs gn Osgo (?‛; pbrkbnt) gs gn stortcgni klntrost tl

:

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?.2

8.:

8.2

;.:

8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6 8::7

bdbrigni dorebts bdbrigni Burlpb Osgo Cotgn Odbrgko

  b  x

   t  b  r  n  o   c   /   m  l  d  b  s   t   g  k   m  b   h   t

Agiurb ?1.1 Xotgl la Bxtbrnoc tl Mldbstgk Mbht, hy Xbigln,8:::‛:7

[lurkbs0 HG[ 8::65 @Z Dlrion 8::7.Nltb0 Gn tfb kockucotgln la tfb rotgl la bxtbrnoc tl mldbstgk mbht, mldbstgk

mbht gnmbxbm tl tfb R.[. mlccor gs occlkotbm tl tfb bxtbrnoc mbht kotbilry.

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Osgo Burlpb Cotgn Odbrgko b

Agiurb ?1.9  Xotgl la Gntbrnotglnoc tl Mldbstgk [bkurgtgbs, hy Xbigln, ?771‛8::

[lurkb0 HG[ 8::7.Nltb0 Bxkcumbs dlnby dorebt gnstrudbnts.

 ;  7  8  

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;7;

Cotgn Odbrgko, wfbrb tfb rotgl mrlppbm arld dlrb tfon 1: pbrkbnt gn8::8 tl ?9 pbrkbnt gn 8::7. Gn Burlpb gntbrnotglnoc sbkurgtgbs, wfgkfrbprbsbntbm ;9 pbrkbnt la tfb tltoc gn ?771, rbprbsbntbm ocdlst 9: pbr-

kbnt hy [bptbdhbr 8:::, mrgvbn hy Xussgon alrbgin hlrrlwgni, hbalrbpcuddbtgni tl ;: pbrkbnt gn 8::7.

]ronsalrdotgln la tfb Mldbstgk Mbht Zlrtalcgl

Mldbstgk mbht plrtalcgls gn bdbrigni dorebts wbnt tfrluif do`lrsfgats gn kldplsgtgln onm doturgty gn tfb ybors tfot prbkbmbm tfb krgsgs,rbmukgni tfb bxplsurb la tfbsb kluntrgbs tl sfgats gn tfb bklnldgk kykcbonm dorebt sbntgdbnt. ]fbsb sfgats lkkurrbm unmbr sbvbroc klnstrognts

tfot fovb oaabktbm dony bdbrigni dorebts alr sbvbroc ybors. Dlrb stohcbonm slunmbr dokrlbklnldgk plcgkgbs, tlibtfbr wgtf rbalrds gn tfb pbn-sgln onm gnsuronkb gnmustrgbs, kfonibm tfb gnvbstlr hosb, wfgkf fomklnsgstbm ocdlst bxkcusgvbcy la klddbrkgoc hones. Flcmgnis la mldbstgkgnstgtutglnoc gnvbstlrs irbw stbomgcy. Zbnsgln aunms hbkodb tfb sbklnm-coribst irlup la gnvbstlrs gn bdbrigni dorebts, wgtf o strlni prbsbnkbgn Kfgcb, Klcldhgo, Docoysgo, onm Rruiuoy. Gnsuronkb kldpongbs ocslhbkodb gnkrbosgnicy gdplrtont, flcmgni sgingagkont sforbs la mbht gnFuniory, Gnmgo, onm Zlconm.?=  Alrbgin gnvbstlrs pcoybm o do`lr rlcbgn Hrozgc onm Dbxgkl, wfbrb tfby sflwbm sgingagkont oppbtgtb alr clkockurrbnky clni-tbrd agxbm-rotb gnstrudbnts. ]fbsb kfonibs cllsbnbm tfbklnstrognts tfot fom alrkbm mbht donoibrs tl alkus ln sflrt-tbrd lrgnmbx-cgnebm gnstrudbnts.

]fb dlst nltgkbohcb sfgat wos tfb mbkcgnb gn tfb (wbgiftbm) rotgl laaclotgni onm sflrt-tbrd tl agxbm-rotb mbht, wfgkf abcc arld 8.: gn 8::: tl:.9: gn 8::7 (agiurb ?1.6). ]fb mrlp rbprbsbntbm o suhstontgoc rbmuktglngn tfb bxplsurb tl gntbrbst rotb rgse. ]fb spgeb gn 8::8 wos kousbm hy tfbsbthoke gn Hrozgc, wfbrb mbht donoibrs wbrb alrkbm tl rbslrt tl aclotgnilr sflrt-tbrd sbkurgtgbs os spbkucotgln ln unargbnmcy dorebt plcgkgbs la tfb

pltbntgoc nbw ilvbrndbnt kousbm turdlgc gn tfb agnonkgoc dorebts. YfbnHrozgc gs toebn lut la tfb sodpcb, tfb rotgl sflws o stbomy onm sgingagkontmbkcgnb, arld ?.;? tl :.?;. Hrozgc onm Dbxgkl, tfb twl dlst gnmbhtbmkluntrgbs gn tfb rbigln, gdprlvbm suhstontgoccy oatbr 8::;. Zrlirbss wosocsl gdprbssgvb gn Burlpb, wfbrb tfb rotgl pcuddbtbm arld ocdlst 8.: tl:.2. ]fb gnmgkotlr gs cbss dbongniauc gn Osgo, hbkousb lncy Gnmlnbsgo gssubmaclotgni lr sflrt-tbrd popbr gn sgingagkont vlcudbs. Gt rbmukbm gts rotgl laaclotgni tl agxbm-rotb mbht arld ?.9 gn 8::8 tl :.; gn 8::7.

]fgs sfgat gn tfb kldplsgtgln la nldgnoc mbht hrluift ohlut o sgi-

ngagkont gnkrbosb gn tfb ovbroib cgab la tfb plrtalcgl, wfgkf rbmukbm ilv-brndbnt bxplsurb tl rbagnonkgni rgse. ]fb ovbroib cgab la mldbstgk mbhtplrtalcgls rlsb stbomgcy hbtwbbn 8::: onm 8::9, portcy hbkousb la tfbsukkbss dony bdbrigni dorebts fom gn gssugni clnibr-tbrd gnstrudbnts.Alr tfb agrst tgdb, sbvbroc kluntrgbs wbrb ohcb tl ouktgln agxbm-rotb clkoc

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;7=  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

kurrbnky gnstrudbnts ot doturgtgbs la ?: ybors lr clnibr. ]fb dlst gdprbs-sgvb prlirbss wos okfgbvbm gn Cotgn Odbrgko, wfbrb ovbroib cgab dlrb tfontrgpcbm, arld ?.; ybors gn 8::: tl =.: ybors gn 8::7. Osgo iognbm ocdlst

tfrbb ybors, gnkrbosgni tfb ovbroib cgab la gts mbht arld 1.9 tl 7.= ybors.Burlpb iognbm bgift dlntfs, gnkrbosgni tfb ovbroib cgab la gts mbht arld8.= tl ;.? ybors (agiurb ?1.7).

Onltfbr trbnm gn tfb strukturb la mldbstgk mbht lvbr tfb post mbkomb gstfb gnkrbosgni gdplrtonkb la gnacotgln-cgnebm mbht (agiurb ?1.?:). Octfluif

o. Gnkcumgni Hrozgc

h. Bxkcumgni Hrozgc

:

8

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1

6

?:

?8

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?1

?6

8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6 8::7

8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6 8::7

:

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8

;

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2

1

9

6

7

bdbrigni dorebts bdbrigni Burlpb Cotgn Odbrgko Osgo

   a   c  l  o   t   g  n  i   m  b   h   t   /   a   g  x  b   m  -  r  o   t  b   m  b   h   t

   a   c  l  o   t   g  n  i   m  b   h   t   /   a   g  x  b   m

  -  r  o   t  b   m  b   h   t

Agiurb ?1.6 Xotgl la Aclotgni Mbht tl Agxbm-Xotb Mbht, hyXbigln, 8:::‛:7

[lurkbs0 HG[ 8::65 @Z Dlrion 8::7.

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;72

:

?

8

;

=

2

1

9

6

7

?:

     y     b     o     r     s

8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6 8::7

bdbrigni dorebts bdbrigni Burlpb Cotgn Odbrgko Osgo

Agiurb ?1.7 Ovbroib Cgab la Zuhcgk Mbht gn [bcbktbm Dorebts,8:::‛:7

[lurkbs0 HG[ 8::65 @Z Dlrion 8::7.

:

8

=

1

6

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?8

     p     b     r     k     b     n      t

8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6 8::7

mldbstgk mbht‛wbgiftbm ovbroib unwbgiftbm ovbroib

Agiurb ?1.?: Zbrkbntoib la ]ltoc Mbht Cgnebm tl Gnacotgln

[lurkbs0 HG[ 8::65 @Z Dlrion 8::7.

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;71  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

tfbsb gnstrudbnts orb nlt usbm, lr fovb clw wbgifts, gn dlst bdbrignidorebt plrtalcgls, o nudhbr la kluntrgbs gntrlmukbm tfbd os on octbrno-tgvb tl nldgnoc agxbm-rotb gnstrudbnts tl bxtbnm doturgtgbs onm rbmukb

kurrbnky onm rlcclvbr rgse.?2  [ldb kluntrgbs ocsl gssub gnacotgln-cgnebmmbht tl rbokf on lptgdoc mbht plrtalcgl, kldhgngni tfbsb gnstrudbnts wgtfagxbm-rotb sbkurgtgbs. Gn [lutf Oargko, alr gnstonkb, gnacotgln-cgnebm sbkurg-tgbs, wfgkf mgm nlt bxgst gn 8:::, rbprbsbntbm ?1 pbrkbnt la tfb plrtalcglgn 8::7. Hrozgc gnkrbosbm gts sforb la gnacotgln-cgnebm mbht arld 1 pbrkbnttl 88 pbrkbnt lvbr tfb sodb pbrglm. Gn ]ureby, wfgkf stortbm usgni tfbsbgnstrudbnts gn 8::1, tfby okkluntbm alr ?: pbrkbnt la tfb plrtalcgl hy8::7. Gnacotgln cgnebrs fovb alunm strlni mbdonm arld pbnsgln aunmsonm nlnrbsgmbnts. ]fgs gs illm nbws, os tfb cgtbroturb ln ilvbrndbnt mbht

prlvgmbs supplrt alr sldb usb la gnacotgln-gnmbxbm mbht, hbkousb dukfla tfb ilvbrndbnt‗s rbvbnubs (wfgkf sbrvgkb tfb mbht) orb rboc gn noturb(Horrlw ?7795 Kodphbcc onm [fgccbr ?771).

Hbtwbbn 8::: onm 8::7, lncy alur kluntrgbs gn tfb sodpcb (Hrozgc,Kfgcb, Klcldhgo, onm ]ureby) gssubm mldbstgk mbht cgnebm tl alrbginbxkfonib. Hrozgc, wfgkf gn 8::: fom 88.2 pbrkbnt la gts plrtalcgl gn mlccor-cgnebm gnstrudbnts, stlppbm gssugni sukf gnstrudbnts gn 8::8. Gn Kfgcbonm Klcldhgo, alrbgin bxkfonib‛cgnebm mbht wos bcgdgnotbm arld tfbplrtalcgl hy 8::7, oatbr rbokfgni sgingagkont cbvbcs ot tfb hbignngni latfb mbkomb. ]ureby hrluift mlwn gts sforb la alrbgin bxkfonib‛cgnebmmbht arld ;2 pbrkbnt gn 8::? tl 1 pbrkbnt gn 8::7. ]fbsb sfgats wbrbgdplrtont gn gdprlvgni tfb kldplsgtgln la tfb mbht plrtalcgl gn tfbsbkluntrgbs. Dlst bdbrigni dorebts gn tfb sodpcb, flwbvbr, mgm nlt usb tfgstypb la gnstrudbnt murgni tfb pbrglm la onocysgs.

Gn sud, bdbrigni dorebts orrgvbm ot tfb iclhoc agnonkgoc krgsgs wgtf ilv-brndbnt mbht plrtalcgls tfot wbrb dlrb rbsgcgbnt tl sfgats gn tfb bklnldgkkykcb onm dorebt sbntgdbnt tfon tfby fom hbbn. ]fb gnkrbosb gn tfb sforb lamldbstgk mbht rbmukbm tfb bxplsurb tl bxkfonib-rotb sflkes onm tfb vuc-nbrohgcgty tl summbn stlps gn kopgtoc aclws. ]fb cbnitfbngni la doturgtgbs gn

clkoc kurrbnky gnstrudbnts lpbnbm nbw octbrnotgvbs alr mbht donoibrs, wflnl clnibr fom tl kfllsb hbtwbbn alrbgin kurrbnky onm gntbrbst rotb rgse.Zlssghcy tfb dlst gdplrtont okfgbvbdbnt gn tfgs orbo wos tfb mgvbrsgagkotglnla aunmgni slurkbs. Ilvbrndbnts sgingagkontcy rbmukbm tfbgr mbpbnmbnkb lnhone agnonkgni. ]fb bvlcutgln la tfb agnonkgoc systbd, pbnsgln onm gnsur-onkb rbalrds, tfb irlwtf la tfb dutuoc aunms gnmustry, onm tfb gnkrbos-gni prbsbnkb la alrbgin gnvbstlrs kfonibm tfb gnvbstlr dop, krbotgni nbwmbdonm alr clni-tbrd agxbm-rotb sbkurgtgbs.

Mbvbclpdbnt la tfb agnonkgoc sbktlr konnlt hb okfgbvbm qugkecy5 gt gs

tfb rbsuct la klnkbrtbm onm mbcghbrotb plcgky oktglns lvbr o pbrglm la ybors.Ot tfb sodb tgdb, mbkgsglns tl hlrrlw dlrb gn clkoc kurrbnky ot clnibrdoturgtgbs usuoccy rbqugrb tfb okkbptonkb la fgifbr gntbrbst klsts gn tfbsflrt run, gn lrmbr tl rbmukb rgse. ]fbsb rbocgtgbs unmbrsklrb tfb strbnitfla plcgky doegni gn dlst bdbrigni dorebts lvbr tfb post mbkomb.

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;79 

]fb Krgsgs0 Yfot Foppbnbm gn Bdbrigni Dorebts<

Mbspgtb tfb gdprlvbdbnt gn dokrlbklnldgk onm mbht gnmgkotlrs gn tfbybors prbkbmgni tfb krgsgs, sbrglus mluhts rbdognbm klnkbrngni bdbrignidorebts‗ kopokgty tl wgtfstonm sflkes. ]fbsb bklnldgbs fom nlt ybt hbbntbstbm hy on bnvgrlndbnt la gnkrbosbm rgse ovbrsgln onm rbmukbm oppbtgtbalr tfbgr ossbts, wfgkf klucm hb prlvlebm hy turhucbnkb gn tfb agnonkgocdorebts onm prlspbkts la on bklnldgk mlwnturn. [trlni sebptgkgsd pbr-sgstbm ln flw rbsgcgbnt bdbrigni dorebt bklnldgbs rboccy wbrb tl sfgats gndorebt sbntgdbnt.

Zrbvglus krgsbs fom hbbn troudotgk0 pllr mbht strukturbs bxokbrhotbmtfb gdpokt la bklnldgk sflkes. Murgni tfbsb bvbnts, tfb wlrcm ilt usbm tlsbbgni bklnldgk sflkes cbomgni tl o vgkglus kykcb la gnkrbosbm rgse ovbrsglntl bdbrigni dorebt ossbts, strlni kopgtoc lutaclws, ohrupt kurrbnky mbprb-kgotgln, onm o do`lr nbiotgvb gdpokt ln mbht rotgls onm agskoc gnmgkotlrs”occ rbgnalrkgni rgse ovbrsgln onm klnkbrns ohlut mbht sustognohgcgty.

Yfot dlst lhsbrvbrs mgm nlt bxpbkt wos tfb doingtumb la tfb tbst tfotwos ohlut tl kldb, gn tfb alrd la tfb irbotbst agnonkgoc-bklnldgk krgsgssgnkb tfb Irbot Mbprbssgln. Gngtgoccy, tfb gdpokt ln bdbrigni dorebts wosdgcm, hut gt gntbnsgagbm sgingagkontcy gn tfb oatbrdotf la tfb Cbfdon Hrltf-brs honeruptky ln [bptbdhbr ?2, 8::6. ]fb nbicgighcb baabkt la tfb krgsgs

ln bdbrigni dorebts hbalrb Cbfdon‗s gnslcvbnky hrluift tl tfb spltcgifttfb mbhotb lvbr wfbtfbr tfbsb bklnldgbs fom –mbklupcbm— arld bvbnts gntfb bklnldgbs la tfb omvonkbm kluntrgbs O abw dlntfs cotbr, tfb onswbrwos unbqugvlkoc0 o wgmbsprbom agnonkgoc krgsgs fom cbm tl dossgvb mbcbvbr-oigni onm kopgtoc lutaclws okrlss tfb wlrcm.

Mbht donoibrs sow aunmgni klnmgtglns gn gntbrnotglnoc kopgtoc dorebtsmbtbrglrotb summbncy, wgtf ibnbrocgzbm spgebs gn tfb sprboms ln agvb-yborbdbrigni dorebt krbmgt mbaouct swops onm ln tfb Bdbrigni Dorebts HlnmGnmbx Iclhoc (BDHGI) slvbrbgins (agiurb ?1.??). ]fbsb sprboms pboebm gn

Lktlhbr 8::6. [rg Coneo‗s BDHGI sprbom rbokfbm ?,=9? hosgs plgnts, onmGnmlnbsgo‗s agvb-ybor krbmgt mbaouct swop sprbom rbokfbm 7:: hosgs plgnts,tfb sforpbst gnkrbosbs tfot dlntf odlni tfb 8= kluntrgbs sodpcbm. [gnkbtfbn tfbsb sprboms fovb hbbn aoccgni ocdlst fldlibnbluscy, tl rbokf prb-krgsgs cbvbcs hy tfb bnm la 8::7.?1 

Bdbrigni dorebt bxtbrnoc mbht gssuonkb stoccbm alr dlntfs, os oklnsbqubnkb la gnkrbosbm rgse ovbrsgln onm fgifbr hlrrlwgni klsts(agiurb ?1.?8). Gntbrnotglnoc kopgtoc dorebts rblpbnbm lncy oatbr Dbxgkl‗s$8 hgccgln gssuonkb la o ?:-ybor iclhoc hlnm gn Mbkbdhbr 8::6. ]fot gssu-onkb wos alcclwbm hy pcokbdbnts hy Hrozgc, Klcldhgo, ]ureby, onm tfb

Zfgcgppgnbs gn @onuory 8::7, os wbcc os ltfbr gssuonkbs tfot bvbntuoccyhrluift bdbrigni dorebt gssuonkb hoke tl rboslnohcb cbvbcs.

[gingagkont kopgtoc lutaclws arld dlst bdbrigni dorebts gnkrbosbmtfb kfoccbnib tl mbht donoibrs, bspbkgoccy gn kluntrgbs stgcc mbpbnmbnt

8/7/2019 Sovereign Debt and the Financial Crisis

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;76  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

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o. Ovbroib agvb-ybor krbmgt mbaouct swop sprbom, hy rbigln

h. BDHGI slvbrbgin sprbom, hy rbigln

   h  o  s   g  s  p  l   g  n   t  s

   h  o  s   g  s  p  l   g  n   t  s

Bost Osgo onm Zokgagk Burlpb onm Kbntroc Osgo

Cotgn Odbrgko onm tfb Korghhbon [uh-[oforon Oargko

Osgo Burlpb onm Kbntroc Osgo

Cotgn Odbrgko onm tfb Korghhbon Dgmmcb Bost onm Nlrtf Oargko

[uh-[oforon Oargko

Agiurb ?1.?? Krbmgt Mbaouct [wop onm [lvbrbgin [prboms,8::6‛:7

[lurkbs0 Hclldhbri CZ5 Motostrbod.

Nltb0 Agiurbs sflw sprboms alr Iclhoc Bdbrigni Dorebt Clkoc KurrbnkyHlnm (IBDCLK) kluntrgbs alr wfgkf moto wbrb ovogcohcb. [uh-[oforon Oargkobxkcumbs Ebnyo onm Ngibrgo. Cotgn Odbrgko bxkcumbs Klsto Xgko onm Rruiuoy.

8/7/2019 Sovereign Debt and the Financial Crisis

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs ;77

ln bxtbrnoc aunmgni (agiurb ?1.?;). ]fb strlni onm plsgtgvb kopgtoc aclwslhsbrvbm gn 8::9 abcc mrostgkoccy gn 8::6, gnacubnkbm hy tfb ohrupt rbvbrsocgn aclws gn tfb cost dlntfs la tfot ybor. Burlpb onm [uh-[oforon Oargkowgtnbssbm sldb la tfb sforpbst rbvbrsocs gn plrtalcgl aclws gn tfb alurtf

quortbr la 8::6. Kclsbm gntbrnotglnoc kopgtoc dorebts onm strlnibr gdhoc-onkbs ln bxtbrnoc okklunts alrkbm dony kluntrgbs tl hbba up hlrrlwgniarld ductgcotbrocs.

]fb gdpokt ln bdbrigni dorebt clkoc kurrbnky hlnm ygbcms wos ocslsgingagkont, hut gt dlvbm ygbcms gn klntrostgni mgrbktglns okrlss kluntrgbsgn tfb agrst abw dlntfs oatbr [bptbdhbr ?2, 8::6. Gn dlst kosbs, ygbcmsbgtfbr gnkrbosbm lr abcc sforpcy (agiurb ?1.?=). Acgift tl quocgty, prlspbktsalr rbmukbm bklnldgk oktgvgty, onm klnsbqubnt dlnbtory plcgky bosgniwbrb odlni tfb dogn aoktlrs mrgvgni ygbcms mlwn. ]fbsb trbnms prbvogcbmgn bdbrigni Osgo, wgtf tfb bxkbptglns la Gnmlnbsgo onm [rg Coneo, wfbrbmldbstgk hlnm rotbs mbkcgnbm rgift arld tfb stort la tfb krgsbs, ochbgt dukfcbss tfon gn doturb dorebts. Mbcbvbroigni onm gnkrbosbm unkbrtognty onmrgse ovbrsgln (os rbacbktbm gn krbmgt mbaouct swops onm BDHGI sprboms)

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  n  l .  l   a   m  b  o   c  s

8::1 8::9 8::6 8::7 8:?:

tltoc bdbrigni dorebt vlcudb, bxkcumgni Kfgno (cbat oxgs)

tltoc nudhbr la mbocs (rgift oxgs)

Agiurb ?1.?8 Qlcudb la Gssuonkbs onm Nudhbr la Mbocs gnBdbrigni Dorebt Kluntrgbs, 8::1‛?:

[lurkb0 Mbocligk [ystbd, okkbssbm 8:?:.

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=::  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

kousbm sbcc-laas gn dony dorebts, pusfgni ygbcms up. ]fbsb aoktlrs doymldgnotb, bspbkgoccy sflrtcy oatbr o sgingagkont sflke, wfbn unkbrtognty gsdlrb okutb onm sldb irlups la gnvbstlrs, sukf os bdbrigni dorebt hlnmaunms, ohruptcy kfonib tfbgr plrtalcgls (agiurb ?1.?2).?9 ]fgs wos tfb kosbgn dlst kluntrgbs gn Cotgn Odbrgko onm Burlpb, wfbrb ygbcms gnkrbosbmuntgc Lktlhbr lr Nlvbdhbr, wfbn tfby stortbm mbkcgngni gn kclsb klrrbco-tgln wgtf tfb BDHG.

]fb clnibr-tbrd baabkt ln clkoc ygbcms wos dlrb fldlibnblus0 o ibn-

brocgzbm rbmuktgln klnsgstbnt wgtf dlnbtory plcgky rbsplnsb onm tfb bkl-nldgk mlwnturn. Octfluif sldb kluntrgbs rboktbm dlrb swgatcy tfonltfbrs, kbntroc hones okrlss tfb iclhb rbmukbm plcgky rotbs lvbr tgdb,bspbkgoccy gn 8::7. Ygtf mbcbvbroigni clsgni gts stbod onm bdbrignidorebts rbiogngni tfb klnagmbnkb la gnvbstlrs, ygbcms mbkcgnbm gn dlst

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[lutf Osgo

Bost Osgo onm Zokgagk Burlpb onm Kbntroc Osgo

Dgmmcb Bost onm Nlrtf OargkoCotgn Odbrgko onm tfb Korghhbon

[uh-[oforon Oargko

Agiurb ?1.?; _uortbrcy Zlrtalcgl Aclws, hy Xbigln, 8::1‛:6

[lurkbs0 Zlrtalcgl aclws, GDA‗s Gntbrnotglnoc Agnonkgoc [totgstgks motohosb5IMZ agiurbs, Ylrcm Hone‗s Ylrcm Mbvbclpdbnt Gnmgkotlrs motohosb5 okkbssbm8:?:.

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8/7/2019 Sovereign Debt and the Financial Crisis

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=:8  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

kluntrgbs tl cbvbcs hbclw tflsb lhsbrvbm hbalrb tfb Cbfdon klccopsb gn[bptbdhbr 8::6.

Rncgeb tfb gdpokt ln dorebt rotbs onm kopgtoc aclws, tfb gdpokt la

tfb krgsgs ln agskoc okklunts wos iromuoc onm fgt dlst bdbrigni dorebtbklnldgbs dogncy gn 8::7. ]fb iclhoc agnonkgoc krgsgs tronsdgttbm tlbdbrigni dorebts dogncy tfrluif tfb klntroktgln la kopgtoc gnaclwsonm bxplrts. Os dlst fgif-gnkldb kluntrgbs pcunibm gntl tfb wlrstagnonkgoc-bklnldgk krgsgs sgnkb tfb Irbot Mbprbssgln, irlwtf gn bdbri-gni dorebts sclwbm arld 9.6 pbrkbnt gn 8::9 tl 2.? pbrkbnt gn 8::6onm :.6 pbrkbnt gn 8::7, onm ilvbrndbnt rbvbnubs klntroktbm sforpcy.?6 O kluntbrkykcgkoc plcgky ogdbm ot slltfgni tfb gdpokt la tfb krgsgs cbato agskoc iop tfot wgmbnbm gn 8::7. ]fb sgzb la tfb iop vorgbm irbotcy

gn tfb bdbrigni dorebts survbybm. Os bxpbktbm, hbkousb la tfb irbotbrmbpbnmbnky ln gnaclws onm bklnldgk oktgvgty gn tfb Burlpbon Rngln,tfb agskoc iop wos coribr gn Kbntroc onm Bostbrn Burlpb onm sdoccbr gnOsgo onm Cotgn Odbrgko.

Hlrrlwgni rbqugrbdbnts gn tfb survbybm bdbrigni dorebts bxponmbm,hut tfgs tgdb bdbrigni dorebts wbrb hbttbr prbporbm tl fonmcb tfb sflke.Gn Xldongo onm ]ureby, wfbrb tfb krgsgs gdpokt wos strlnibr, hlrrlw-gni rbqugrbdbnts trgpcbm gn 8::7.?7  Gn dlst Cotgn Odbrgkon onm Osgonkluntrgbs, mbht donoibrs fom tl aunm nl dlrb tfon ?.2 tgdbs tfb sudsrogsbm gn 8::6. ]fb tose wos nlnbtfbcbss kfoccbnigni, igvbn tfot murgnitfb tfgrm onm alurtf quortbrs la 8::6 tfb gntbrnotglnoc kopgtoc dorebtswbrb baabktgvbcy kclsbm onm mldbstgk dorebt klnmgtglns gn dlst bdbri-gni dorebt kluntrgbs fom mbtbrglrotbm. ]fb opporbnt sukkbss wgtf wfgkfmbht donoibrs wbrb ohcb tl dbbt tfb ommgtglnoc hlrrlwgni mbdonms doyrbacbkt tfb aokts tfot mbht plrtalcgls wbrb cbss mbpbnmbnt ln alrbgin hlr-rlwgni onm tfb gnkrbosb gn tfb prgdory mbagkgt wos cgdgtbm. Gn ommgtgln tfbbxtbrnoc dorebts, wfgkf wbrb kclsbm alr nborcy agvb dlntfs, rblpbnbm wgtfalrbgin gntbrbst rotbs ot fgstlrgk clws, os dlnbtory plcgky gn tfb I-9 wosoiirbssgvbcy bxponsglnory.

]fgs sgtuotgln klntrosts sforpcy wgtf tfot la gnmustrgoc kluntrgbs, wfbrbmbbp mbagkgts mbvbclpbm onm mbht tl IMZ rotgls rlsb ropgmcy. ]fb gdpcb-dbntotgln la corib hogclut pokeoibs tl ebbp tfb agnonkgoc systbd oaclot onmtfb rbkbssgln tfot alcclwbm tfb vgrtuoc porocysgs la mldbstgk krbmgt onm tfbhurst la tfb rboc bstotb huhhcb hrluift ohlut o mrodotgk gnkrbosb gn agskocmbagkgts onm tfb hlrrlwgni rbqugrbdbnts la tfbsb ilvbrndbnts. 8: 

Xbsplnsb tl tfb Krgsgs hy Mbht Donoibrs gn BdbrigniDorebts

]fb iclhoc agnonkgoc krgsgs bxtbnmbm tfb rlcb pcoybm hy mbht donoibrshbylnm dbbtgni tfb unbxpbktbm hlrrlwgni rbqugrbdbnts5 tfbgr oktglnsoaabktbm tfb baabktgvbnbss la tfb plcgky rbsplnsb tl tfb krgsgs. Gn sbvbroc

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs =:;

kluntrgbs, mbht donoibrs wbrb osebm tl rogsb ommgtglnoc aunmgni alr tfbgdpcbdbntotgln la vgtoc agskoc stgducus pokeoibs gn on bnvgrlndbnt lagnvbstlr rbtrbnkfdbnt. Dlrblvbr, tfby fom tl ml sl gn o donnbr tfot

klntrghutbm tl tfb stohgcgty la tfb mldbstgk agnonkgoc dorebt, wfgkf fomhbbn sfoebn hy tfb acgift la alrbgin gnvbstlrs onm strlni rgse ovbrsgln. Gntfgs mbcgkotb bnvgrlndbnt, mbkgsgln doebrs nbbmbm tl korbauccy wbgif tfbpltbntgoc gdpokt ln gntbrbst rotbs, tfb agskoc spokb toebn hy mbht-sbrvgkgniklsts, gnvbstlrs‗ rbsplnsb, onm tfb lvbrocc baabkt ln tfb agnonkgoc dorebts.

Mbht donoibrs‗ rbsplnsb tl tfb krgsgs vorgbm arld kluntry tl kluntry,mbpbnmgni ln tfb gnstrudbnts ovogcohcb onm tfbgr bxpbrgbnkb wlregni gn onbw omvbrsb bnvgrlndbnt. ]fb iclhoc agnonkgoc krgsgs tbstbm mbht donoi-brs‗ acbxghgcgty tl omopt tfbgr hlrrlwgni strotbigbs oatbr dokrlbklnldgk

onm dorebt aunmodbntocs sfgatbm mrodotgkoccy.8?

 Mbht donoibrs gn tfb sodpcb la sbcbktbm bdbrigni dorebts rbsplnmbm

gn tfrbb dogn woys0 hy rbmukgni prbssurb ln tfb dorebt hy agccgni portla tfb aunmgni iop tfrluif ltfbr dbkfongsds, hy omoptgni tfb aunmgniprlirod tl sfgats gn tfb mbdonm alr ilvbrndbnt popbr, onm hy gdpcbdbnt-gni cgohgcgty donoibdbnt lpbrotglns tl supplrt tfb dorebt. Bokf la tfbsbtypbs la rbsplnsbs gs bxodgnbm hbclw.

Xbmukgni Zrbssurb ln tfb Dorebt hy Rsgni Ltfbr

Agnonkgni DbkfongsdsOktglns ogdbm ot rbmukgni prbssurb ln tfb dorebt hy rogsgni port la tfbaunmgni nbbms hy ltfbr dbons gnkcumbm tfrbb dbkfongsds0 kfonnbcgnitfb bxkbss cgqugmgty ovogcohcb wgtfgn tfb puhcgk sbktlr5 usgni nlndorebtaunmgni slurkbs, sukf os ductgcotbrocs5 onm bxponmgni tfb gnvbstlr hosbhy usgni nbw mbht gnstrudbnts onm mgstrghutgln kfonnbcs. Dlst kluntrgbsrbmukbm lr mbcoybm hlrrlwgni arld tfb prgvotb sbktlr hy usgni cgqugmrbslurkbs wgtfgn tfb puhcgk sbktlr. ]fb usb la kosf rbsbrvbs occlwbm tfboutflrgtgbs gn Zbru tl stoy lut la tfb dorebt onm baabktgvbcy hlrrlw cbss

tfon lrgignoccy pconnbm (Zbru mlbs nlt fovb on laagkgoc toribt alr kosfrbsbrvbs). Gn Rruiuoy tfb outflrgtgbs ovlgmbm hlrrlwgni arld dorebtslurkbs hy toegni ln clons arld ductgcotbrocs tl kclsb tfb agnonkgni ioponm rbklnstgtutb tfb cgqugmgty kusfgln. Gn 8::2 gt omlptbm o prbaunmgniplcgky tfot bstohcgsfbm tfot ot ony plgnt gn tgdb, kosf rbsbrvbs sflucmklvbr tfb agnonkgni nbbms la tfb nbxt ?8 dlntfs (Dgngstry la Agnonkb8::7). Klcldhgo hlrrlwbm $?.6 hgccgln gn 8::6 onm $;.6 hgccgln gn 8::7tl hugcm up gts cgqugmgty plsgtgln. Kbntroc hones gn Biypt, Funiory, Gnml-nbsgo, onm Dbxgkl wbrb pbrdgttbm tl huy ilvbrndbnt hlnms, wfgkf huaa-

brbm tfb aocc gn hlnm prgkbs. Gn sldb kluntrgbs wgtf cbss mbvbclpbm clkocdorebts, tfb kbntroc hone bxtbnmbm krbmgt cgnbs tl tfb ilvbrndbnt.Bdbrigni dorebt mbht donoibrs ocsl stbppbm up tfbgr hlrrlwgni

arld ductgcotbrocs. Funiory rbkbgvbm suhstontgoc rbslurkbs arld tfbGntbrnotglnoc Dlnbtory Aunm (GDA) tl mboc wgtf tfb stohgcgzotgln la tfb

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=:=  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

agnonkgoc sbktlr. Gnmlnbsgo usbm klntgnibnt aunmgni arld ductgcotbroconm hgcotbroc bntgtgbs tl hokestlp gts hlrrlwgni nbbms. Zbru usbm klntgn-ibnt krbmgt cgnbs klntroktbm wgtf tfb Ylrcm Hone. Xldongo dbt o suh-

stontgoc port la gts hlrrlwgni prlirod wgtf rbslurkbs arld tfb GDA, tfbBurlpbon Klddgssgln, onm tfb Ylrcm Hone. ]fb suhstontgoc gnkrbosb gntfb mbdonm alr ductgcotbroc clons put sgingagkont prbssurb ln tfb kopok-gty la tfbsb ductgcotbroc gnstgtutglns tl bxponm tfbgr cbnmgni prlirods.]fb Ylrcm Hone rbsplnmbm hy gnkrbosgni gts 8::7 cbnmgni vlcudb tlocdlst tfrbb tgdbs tfb vlcudb prl`bktbm hbalrb tfb krgsgs.88

[ldb bdbrigni dorebts stortbm lr bxponmbm rbtogc mbht prlirods lrtrgbm nbw mbht gnstrudbnts gn on baalrt tl mgvbrsgay aunmgni slurkbs onm topsbidbnts la gnvbstlrs nlt bxpclrbm hbalrb. Octfluif tfgs rlutb wos dor-

ignoc kldporbm wgtf tfb agrst twl dbkfongsds, gt wos wlrtf bxpclrgni gnsldb kluntrgbs. Funiory gntrlmukbm o nbw tfrbb-ybor gnstrudbnt cgnebmtl tfb klnsudbr prgkb gnmbx (KZG) alr tfb rbtogc dorebt. Gnmlnbsgo oiirbs-sgvbcy bxponmbm gts rbtogc prlirod, gntrlmukbm [forgo-kldpcgont sueue dorebt gnstrudbnts, onm counkfbm o [odurog hlnm. ]ureby gntrlmukbmnbw rbvbnub-gnmbxbm hlnms onm KZG cgnebrs alr tfb wflcbsocb dorebt.

Xbvgsgni Aunmgni Zrlirods gn Xbsplnsb tl [fgats gn Mbdonmalr Ilvbrndbnt Zopbr

]fb clss la oppbtgtb alr bdbrigni dorebt ilvbrndbnt hlnms alrkbm mbhtdonoibrs tl dlmgay aunmgni strotbigbs wfgcb mbocgni wgtf tfb lnilgnigntbrbst rotb onm rbagnonkgni sflkes. Gn rbsplnsb tl tfb lutaclw la aunmshy alrbgin”onm gn sldb kosbs bvbn clkoc gnstgtutglnoc”gnvbstlrs lut labdbrigni dorebt ilvbrndbnts, mbht donoibrs suspbnmbm gssuonkb gn tfbgntbrnotglnoc kopgtoc dorebts onm klnkbntrotbm tfb huce la tfb gssuonkbprlirod gn tfb sflrtbst tbnlrs onm aclotbrs, alr wfgkf mbdonm arld kld-dbrkgoc hones wos irbotbr.

Bdbrigni dorebt gssuonkb gn tfb gntbrnotglnoc kopgtoc dorebts kodb tl

o vgrtuoc stlp gn tfb tfgrm onm alurtf quortbrs la 8::6. Oktgvgty rbklvbrbmstrlnicy gn 8::7, alcclwgni tfb oiirbssgvb bxponsglnory dlnbtory plcgkgbsla tfb I-9.

Dorebt klnmgtglns ocsl mbtbrglrotbm gn dlst clkoc dorebts, onm dlstkluntrgbs suspbnmbm lr rbmukbm tfb ouktglns la clkoc kurrbnky dbmgud-tbrd agxbm-rotb sbkurgtgbs. ]fb gdpokt la tfb krgsgs gn tfgs rbiorm woswlrst gn Funiory, ]ureby, Zlconm, onm Xldongo, gn occ la wfgkf tfb clkockurrbnky mbht dorebt alr dbmgud- onm clni-tbrd popbr kodb tl o vgrtuocfoct. Zbru plstplnbm gts ouktglns la clkoc kurrbnky sbkurgtgbs onm rbcgbm ln

corib kosf rbsbrvbs. Hrozgc onm Dbxgkl mrodotgkoccy rbmukbm tfb gssuonkbla agxbm-rotb popbr murgni tfb krgsgs. Gnmlnbsgo onm Dlrlkkl rboktbm gntfb sodb woy, octfluif tfb gdpokt tfbrb wos cbss sbvbrb. Gn [lutf Oargkoonm Kbntroc onm Bostbrn Burlpb, tfb gdpokt la tfb alrbgin gnvbstlr sbcc-laa wos prlhohcy dlrb gdplrtont tfon bcsbwfbrb, hbkousb nlnrbsgmbnts

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs =:2

tromgtglnoccy flcm o sgingagkont sforb la clkoc kurrbnky ilvbrndbnt sbkurg-tgbs onm kopgtoc dlhgcgty gs fgifbr tfon gn Cotgn Odbrgko lr Osgo.

Gn sldb kluntrgbs tfb sbcc-laa la clkoc kurrbnky dbmgud-tbrd agxbm-

rotb sbkurgtgbs hy alrbgin gnvbstlrs wos kldpbnsotbm alr gn port hygnstgtutglnoc gnvbstlrs. Gn Hrozgc, Klcldhgo, onm Zbru, pbnsgln aunmsohslrhbm port la tfb bxkbss suppcy la dbmgud- tl clni-tbrd popbr, doe-gni tfb swgtkf tl aclotgni/sflrt-tbrd sbkurgtgbs cbss prlnlunkbm. Gn kln-trost, gn Kbntroc onm Bostbrn Burlpb, bvbn gnstgtutglnoc gnvbstlrs sfgatbmtfbgr prbabrbnkb tl alrbgin kurrbnky lr sflrt-murotgln clkoc kurrbnkyossbts, cbovgni hones tl ohslrh dlst la tfb bxkbss suppcy la ilvbrndbntsbkurgtgbs.

]l laasbt tfb mbkcgnb gn mbdonm alr dbmgud-tbrd popbr, sldb klun-

trgbs swgtkfbm tl ]rbosury Hgccs. ]fb dlst nltohcb kosb wos prlhohcyFuniory, wflsb aunmgni pcons rbcgbm ocdlst bxkcusgvbcy ln ]-hgccs murgnitfb bgift dlntfs surrlunmgni tfb krgsgs. Lvbr tfb sodb pbrglm, Zlconmmluhcbm gts ]-hgcc sforb, arld 1 pbrkbnt tl ?8 pbrkbnt5 Xldongo sgingag-kontcy gnkrbosbm gts ]-hgcc vlcudb onm gntrlmukbm lnb- onm tfrbb-dlntfsbkurgtgbs5 onm [lutf Oargko trgpcbm gts gssuonkb la ]-hgccs.

Ltfbr bdbrigni dorebts swgtkfbm aunmgni arld agxbm-rotb gnstrudbntstl aclotgni-rotb lnbs. Hrozgc rbmukbm gts toribt la agxbm-rotb popbr oatbr tfbkrgsgs fgt onm gnkrbosbm tfb toribt alr aclotgni-rotb popbr. ]ureby gnkrbosbmtfb gssuonkb la hltf sflrtbr-tbrd onm aclotgni-rotb popbr.

Os o rbsuct la tfbsb kfonibs gn aunmgni plcgky, dlst kluntrgbs rbmukbmtfb ovbroib tgdb tl doturgty. Flwbvbr, igvbn tfb rbcotgvbcy sflrt muro-tgln la tfb gntbnsb pfosb la tfb agnonkgoc krgsgs onm tfb aokt tfot bdbrignidorebts rbiognbm nlrdoc okkbss hy dgm-8::7, dlst la tfb rbmuktglns gnovbroib doturgty wbrb sdocc, sflrt-cgvbm, lr hltf. Hrozgc, Dbxgkl, onmZlconm bxpbrgbnkbm sdocc rbmuktglns gn tfb ovbroib cgab la tfbgr plrtalcgls.Funiory rbmukbm tfb ovbroib tgdb tl doturgty hy :.1 ybor, ilgni arld8.9 ybors gn [bptbdhbr 8::6 tl 8.? ybors gn @ucy 8::7. ]ureby rbmukbm tfbovbroib doturgty la gts plrtalcgl arld ;= dlntfs gn 8::9 tl ;8 dlntfs gn

8::6 hut rbklvbrbm gn 8::7 tl ;2 dlntfs.

Gdpcbdbntgni Cgohgcgty Donoibdbnt Lpbrotglns tl [upplrttfb Dorebt

Cgohgcgty donoibdbnt tbkfngqubs sukf os huyhokes onm bxkfonibs prlvbmtl hb plwbrauc tllcs tl fbcp stohgcgzb dorebts. Dony mbht donoibrs alunmtfot tfbsb tronsoktglns rbmukbm dorebt prbssurb onm pcoybm o kotocytgkrlcb gn om`ustgni tfb mbht strukturb tl tfb kfonigni kforoktbrgstgks la tfb

mbdonm prlagcb.Funiory, Gnmlnbsgo, onm Dbxgkl usbm huyhokes tl occbvgotb sbcc-laaprbssurbs, bnfonkb cgqugmgty, onm gdprlvb tfb prgkgni la cgqugm gnstru-dbnts. Os sbkurgtgbs wbrb hluift hoke alr kosf, tfbsb lpbrotglns prl-vgmbm dukf-nbbmbm cgqugmgty rbcgba tl gnvbstlrs onm fbcpbm klntogn sbcc-laa

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=:1  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

prbssurbs, bspbkgoccy ln gccgqugm sbkurgtgbs.8;  Gn Funiory, alr bxodpcb, ocorib-skocb hlnm huyhoke prlirod la ohlut $8.2 hgccgln wos counkfbm gntfb sbklnm quortbr la 8::7 hbkousb la tfb sgingagkont sbcc-laa hy alrbgin

gnvbstlrs onm wboe mbdonm alr clkoc hlnms. ]fb prlirod wos sukkbss-auc, bnohcgni Funiory‗s mbht oibnky tl rbstort rbiucor hlnm ouktglns gnOprgc 8::7. Gnmlnbsgo fbcpbm stohgcgzb prgkbs hy klnmuktgni huyhokes onmswgtkfbs la sflrt-tbrd gnstrudbnts, prlvgmgni illm prgkb rbabrbnkbs wfbndorebt cgqugmgty wos wboe.8=  Dbxgkl gdpcbdbntbm huyhoke ouktglnsla sbcbktbm dbmgud- onm clni-tbrd sbkurgtgbs tl bnfonkb tfbgr cgqugmgty.Zlconm usbm swgtkfbs tl stohgcgzb tfb dorebt hy rbmbbdgni gccgqugm hlnmsgn bxkfonib alr dlrb cgqugm sbkurgtgbs. Murgni tfb krgsgs, Zlconm rbpcokbmgccgqugm clni-tbrd KZG‛gnmbxbm hlnms onm aclotgni-rotb nltbs wgtf dlrb

cgqugm gnstrudbnts gn lrmbr tl stohgcgzb tfb dorebt.On gnnlvotgvb opprlokf tfot sbbds tl hb wlregni wbcc gs tfb sgduc-

tonblus huy onm sbcc ouktglns usbm hy Hrozgc. Ot tfb pboe la tfb krgsgs,tfb Hrozgcgon ]rbosury klnmuktbm tfgs typb la ouktgln alr sldb clni-tbrdsbkurgtgbs. ]fbsb ouktglns prlvgmb rbcgohcb huy onm sbcc prgkb porodbtbrs oto tgdb wfbn rbabrbnkbs gn tfb sbklnmory dorebts orb wboe lr nlnbxgstbnt.Zrgkb mgsklvbry usuoccy rbqugrbs o sbqubnkb la twl tl tfrbb ouktglns alrbokf gnstrudbnt. Hrozgc fom ocrbomy tbstbm sgductonblus ouktglns murgnirbkbnt pbrglms la turhucbnkb onm alunm tfot tfby mgm o hbttbr `lh la stohg-cgzgni dorebts tfon mgm purb huyhoke ouktglns.

Kluntrgbs gdpcbdbntbm mbht donoibrs‗ rbsplnsbs tl tfb krgsgs gn mgaabr-bnt woys. [ldb wbrb alrkbm tl rbvgsgt onm om`ust tfbgr mbht donoibdbntstrotbigbs5 ltfbrs, wfgkf fom cllsbr lr dlrb mgrbktglnoc iugmbcgnbs, klucmlpbrotb wgtfgn tfb prbvogcgni plcgky arodbwlre.

Kluntrgbs wgtf strotbigbs bxprbssbm os alrdoc toribts alr donoignirgse wbrb alrkbm tl rbvgbw tfbgr strotbigbs murgni tfb krgsgs. Hrozgc, wfgkffos onnuoc toribts alr tfb kldplsgtgln la tfb mbht plrtalcgl, rbvgbwbm gtstoribts, lpbngni up dlrb spokb alr aclotgni-rotb popbr onm rbmukgni tfbtoribt alr agxbm-rotb mbht. ]fb Hrozgcgon mbht donoibdbnt laagkb sow tfgs

om`ustdbnt os o tbdplrory sbthoke onm rbvbrsbm gt oatbr tfb sgtuotgln nlr-docgzbm. Funiory onm Zlconm rbvgbwbm tfbgr strotbigbs tl gnkcumb o fgifbrsforb alr alrbgin kurrbnky mbht gn tfb ybors tl kldb, ot cbost untgc sldb latfbgr ductgcotbroc clons doturb.

Gn klntrost, kluntrgbs gn wfgkf mbht donoibdbnt strotbigbs orbbxprbssbm os hrlom mgrbktglnoc toribts alr kbrtogn rgse gnmgkotlrs mgmnlt nbbm tl unmbrtoeb alrdoc rbvgbws la tfbgr strotbigbs. Octfluif dlstkluntrgbs alrdoccy okenlwcbmibm tfb gnkrbosb gn aunmgni rbqugrbdbnts,nlt occ rbvgsbm tfbgr plcgky arodbwlres, wgtf mbht donoibrs klntgnu-

gni tl lpbrotb unmbr tfb prbvogcgni lnb. Zlconm‗s hrlom honms alr clkockurrbnky rgse gnmgkotlrs mgm nlt rbqugrb rbvgsgln murgni tfb krgsgs. ]fbmgrbktglnoc toribts gn Dbxgkl onm ]ureby mgm nlt nbbm tl hb rbvgbwbm,octfluif hltf kluntrgbs sclwbm tfbgr prlirbss gn rbmukgni rgse gn tfbgrmbht plrtalcgls.

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs =:9 

Klnkcumgni Xbdores

]fb gdpokt la tfb iclhoc agnonkgoc krgsgs ln tfb 8= kluntrgbs klnsgmbrbmgn tfgs kfoptbr, os wbcc os tfb rbsplnsbs hy tfbgr puhcgk mbht donoibrs,prlvgmbs o nudhbr la plsgtgvb cbsslns alr plcgky doebrs onm gntbrnotglnocagnonkgoc gnstgtutglns. Agrst, slunm onm wbcc-kllrmgnotbm dokrlbklnldgkplcgky murgni tfb ybors hbalrb tfb krgsgs, wfgkf cbm tl dukf-gdprlvbmaunmodbntocs, sbrvbm os o huaabr onm plsgtglnbm bdbrigni dorebts alrqugkebr rbklvbry. Octfluif tfb gdprlvbdbnt gn dokrlbklnldgk aunmo-dbntocs klucm gn port hb ottrghutbm tl o vbry hbngin (kykcgkoc) bnvgrln-dbnt, mrgvbn hy odpcb iclhoc cgqugmgty onm o strlni rgse oppbtgtb hygnvbstlrs, bxpcgkgt plcgky kflgkbs hy bdbrigni dorebt mbkgsgln doebrsbnohcbm tfbd tl kopgtocgzb ln tfgs bnvgrlndbnt onm rbmukb tfbgr vucnbr-ohgcgty. [ldb la tfb dogn dbosurbs gdpcbdbntbm wbrb gdprlvbm agskocplcgky, okkuducotgln la alrbgin rbsbrvbs, klntrlccbm gnacotgln, onm klnsb-qubnt rbmuktgln gn puhcgk mbht tl IMZ rotgls.

Zrumbnt puhcgk mbht donoibdbnt wgtf o alkus ln klntogngni rgsesgn mbht plrtalcgls ocsl strbnitfbnbm rbsgcgbnkb tl tfb krgsgs. Zlcgkgbs tfotrbmukbm alrbgin bxkfonib bxplsurb, bxtbnmbm tfb doturgty la mldbstgkmbht, rbmukbm rbcgonkb ln aclotgni-rotb gnstrudbnts, onm mgvbrsgagbm aunm-gni slurkbs wbrb portgkucorcy gdplrtont. Gn klntrost tl dony prbvglus

bvbnts, tfb gdpokt la tfb bvbnts la 8::6 onm 8::7 ln ilvbrndbnt humibtswos dutbm hy tfb rbmukbm cbvbc la alrbgin bxkfonib bxplsurb (onm gn sldbkosbs ottogndbnt la o nbt alrbgin bxkfonib ossbt plsgtgln).

Hltf slunm onm wbcc-kllrmgnotbm dokrlbklnldgk plcgky onm prumbntmbht donoibdbnt hbalrb tfb krgsgs prlvgmbm puhcgk mbht donoibrs wgtfrlld tl donbuvbr wfbn tfb krgsgs fgt. Ilvbrndbnts wbrb ohcb tl mbcoyhlrrlwgni, usb nlndorebt slurkbs la aunmgni, onm gntrlmukb o ronib ladbosurbs tl klntgnub hlrrlwgni gn tfbgr mldbstgk sbkurgtgbs dorebts. Gntfgs woy, wfbn dorebts wbrb suaabrgni sbvbrb rgse ovbrsgln tl tfb plgnt la

mysaunktgln, ilvbrndbnts fom tfb kopokgty tl ohslrh sldb rgse onm kln-trghutb tl tfb stohgcgzotgln onm rbklvbry la clkoc dorebts.]fb ovogcohgcgty onm qugke mgshursbdbnt la ductgcotbroc aunmgni wbrb

krgtgkoc gn kosbs wfbrb gntbrnotglnoc kopgtoc dorebts wbrb kclsbm onm gnvbs-tlrs gn mldbstgk ilvbrndbnt sbkurgtgbs wgtfmrbw arld tfb dorebt. Klntgn-ibnt krbmgt cgnbs prlvbm bxtrbdbcy usbauc, onm mbht donoibrs cbornbm flwvocuohcb tfbsb lptglns hbkodb. ]fb dossgvb gnkrbosb gn mbdonm alr duc-tgcotbroc clons rbvbocbm tfb cgdgtbm kopokgty tfot ductgcotbroc gnstgtutglnsfovb tl laasbt o sgingagkont rbvbrsoc la prgvotb kopgtoc aclws, flwbvbr.

Kluntrgbs wgtf coribr onm dlrb mbvbclpbm mldbstgk hlnm dorebts

tbnmbm tl hb cbss oaabktbm hy tfb krgsgs. Gn sldb la tfbsb kluntrgbs, bvbnmurgni tfb wlrst la tfb krgsgs, kopgtoc acbw tl ilvbrndbnt sbkurgtgbs, dgr-rlrgni tfb dorebt dlvbdbnts bxpbrgbnkbm gn tfb Rngtbm [totbs, Burlpb,onm @opon. Octfluif sldb tgdb bcopsbm hbalrb gntbrbst rotbs kodb hoke

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=:6  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

tl prbkrgsgs cbvbcs, dlst ltfbr kluntrgbs wbrb ohcb tl sotgsay tfbgr aunmgninbbms gn tfb mldbstgk dorebt.

]fb krgsgs fgifcgiftbm tfb mbirbb tl wfgkf tfb kopokgty la puhcgk mbht

donoibrs gn tfb survbybm kluntrgbs fos gdprlvbm gn tfb post mbkomb. Gn onudhbr la kluntrgbs, mbht donoibrs wbrb ohcb tl qugkecy bdpcly o ronibla dbosurbs (cgohgcgty donoibdbnt tbkfngqubs, tfb usb la kosf rbsbrvbs,qugke om`ustdbnt la mbht strotbigbs, onm sl alrtf) tfot fbcpbm ilvbrndbntswbotfbr tfb turhucbnkb gn agnonkgoc dorebts onm gdpcbdbnt opprlprgotbkluntbrkykcgkoc agskoc plcgkgbs. ]fgs lutkldb unmbrsklrbs tfb nbbm alr ilv-brndbnts tl bnsurb tfot agnonkb dgngstrgbs onm mbht laagkbs orb opprlprg-otbcy rbslurkbm onm stoaabm.

]fb 8= kluntrgbs klnsgmbrbm gn tfgs kfoptbr okklunt alr tfb do`lrgty la

pblpcb cgvgni gn bdbrigni dorebts (onm ohlut 1: pbrkbnt la tfb wlrcm‗splpucotgln). Gn o nudhbr la ltfbr kluntrgbs, tfb agnonkgoc krgsgs fos fom oirbotbr nbiotgvb gdpokt ln dorebt okkbss onm aunmgni klsts. Dlst la tfbsbkluntrgbs wbnt gntl tfb krgsgs wgtf pllr agskoc plsgtglns, mbht sustognohgc-gty klnkbrns, unrbslcvbm mbht rbnbiltgotglns, lr sldb alrd la plcgtgkocmbomclke tfot oaabktbm tfbgr ohgcgty tl baabktgvbcy donoib dokrlbklnldgkplcgky. ]fbgr prbmgkodbnt unmbrsklrbs tfb nbbm tl toeb omvontoib la tfbhbngin pfosb la tfb kykcb tl ommrbss mbht prlhcbds, os lnkb o krgsgs fgts,tfb lptglns alr oktgln qugkecy sfrgne.

Nltwgtfstonmgni tfb plsgtgvb mbvbclpdbnts tfot dlst bdbrigni dor-ebts bn`lybm hbtwbbn @unb 8::7 onm Dorkf 8:?:, tfb pbrglm ofbomprbsbnts dlrb rgses tfon usuoc, alr sbvbroc rboslns. Agrst, fgif-gnkldbkluntrgbs fovb fuib hlrrlwgni rbqugrbdbnts (gn 8::7 tfbgr nbt dorebt-ohcb sbkurgtgbs gssuonkb wos bstgdotbm ot dlrb tfon sbvbn tgdbs tfot la8::9 ULBKM 8::7T), wfgkf wgcc krbotb strlni kldpbtgtgln alr kopgtoconm pltbntgoc dorebt gnstohgcgty. [bklnm, hy gts vbry noturb, tfb prlkbssla pfosgni lut bxtrolrmgnorgcy supplrtgvb dlnbtory plcgky gnkrbosbs rgse.Dlvbs gn tfgs mgrbktgln orb cgebcy tl rbsuct gn gnkrbosbm dorebt vlcotgcgtyos –korry trombs,— put gn pcokb tl prlagt arld vbry clw sflrt-tbrd gntbrbst

rotbs, orb unwlunm. Dlnbtory tgiftbngni dust hb korbauccy tgdbm, gn lrmbrtl ovlgm gnkrbosgni gnacotglnory bxpbktotglns ln tfb lnb fonm lr kuttgnilaa tfb bklnldgk rbklvbry onm agnonkgoc sbktlr rbkupbrotgln ln tfb ltfbr.Lpgnglns ln tfb strbnitf onm murohgcgty la tfb iclhoc rbklvbry mgaabr5 tfbrbrbdogns o sgzohcb rgse tfot o aoctbrgni rbklvbry wlucm put prbssurb ln tfbhlrrlwgni nbbms la dlst ilvbrndbnts.

Igvbn tfgs lutclle, gt gs gdplrtont tfot plcgky doebrs gn bdbrigni dor-ebts dogntogn tfb prumbnt opprlokf tl dokrlbklnldgk donoibdbnt tfotfos sbrvbm tfbd wbcc lvbr tfb post mbkomb. ]fb spbkgagk plcgky dbosurbs wgcc

mbpbnm ln gnmgvgmuoc kluntry kgrkudstonkbs. Alr kluntrgbs wgtf wboebragskoc plsgtglns, tfb rbklvbry la irlwtf prbsbnts on lpplrtungty tl rbmukbmbht tl IMZ rotgls hy rbvbrsgni tfb agskoc okklddlmotgln gdpcbdbntbmtl dgtgiotb tfb gdpokt la tfb iclhoc krgsgs. Alr kluntrgbs wgtf irbotbr ags-koc huaabrs onm sgingagkont bxtbrnoc surpcusbs, tfb bdpfosgs sflucm hb ln

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs =:7

stgducotgni mldbstgk mbdonm onm occlwgni bxkfonib rotbs tl om`ust wfgcbdogntogngni vgigconkb lvbr gnacotglnory bxpbktotglns. Ot tfb sodb tgdb,mbht donoibrs gn bdbrigni dorebt kluntrgbs orb wbcc omvgsbm tl dogntogn

prbporbmnbss alr dorebt mgsclkotglns onm tl klntgnub tl sbbe lpplrtung-tgbs tl klntogn rgse gn puhcgk mbht plrtalcgls ot cbvbcs tfot wgcc bnsurb tfotagskoc plcgky gs nlt `blpormgzbm ga mgsostbr strgebs oiogn.

Nltbs

  ?. ]fgs kfoptbr mlbs nlt bxodgnb tfb gdpokt la tfb agnonkgoc krgsgs ln clw-gnkldb kluntrgbs, hbkousb tfb alkus gs ln tfb agrst-rlunm agnonkgoc gdpokt murgni

[bptbdhbr 8::6‛Oprgc 8::7, wfbn tfbgr coke la gntbirotgln gntl iclhoc agnonkgocdorebts tl o corib bxtbnt huaabrbm tfbd arld gdpokt. ]ronsdgssgln lkkurrbm cotbr,tfrluif tfb rboc sbktlr, os tromb onm rbdgttonkbs mbkcgnbm.

  8. [urvbys wbrb sbnt tl 8= kluntrgbs0 Hrozgc, Kfgcb, Kfgno, Klcldhgo, KlstoXgko, tfb Oroh Xbpuhcgk la Biypt, Funiory, Gnmgo, Gnmlnbsgo, Ebnyo, Docoysgo,Dbxgkl, Dlrlkkl, Ngibrgo, Zbru, tfb Zfgcgppgnbs, Zlconm, Xldongo, tfb XussgonAbmbrotgln, [lutf Oargko, [rg Coneo, ]fogconm, ]ureby, onm Rruiuoy. Alurtbbn latfbsb kluntrgbs”Hrozgc, Klcldhgo, Biypt, Funiory, Gnmlnbsgo, Ebnyo, Dbxgkl,Dlrlkkl, Zbru, Zlconm, Xldongo, [lutf Oargko, ]ureby, onm Rruiuoy”rbsplnmbm.Mbht donoibrs arld tfb 8= kluntrgbs wbrb survbybm ohlut tfb dogn gdpokts la tfbkrgsgs ln tfbgr aunmgni nbbms onm tfbgr okkbss tl tfb mldbstgk onm gntbrnotglnoc kopgtocdorebts. ]fb survby ocsl osebm ohlut kfonibs gn mbht donoibdbnt strotbigbs onm

lpbrotglnoc rbsplnsbs tl mboc wgtf tfb krgsgs, sukf os tfb usb la kosf rbsbrvbs, octbrno-tgvb aunmgni dbkfongsds, onm cgohgcgty donoibdbnt tbkfngqubs.

;. Kfonibs gn agskoc onm dlnbtory plcgkgbs, bxtbrnoc okklunts, onm bklnldgkirlwtf orb fgifcy gntbrrbcotbm. Mgsbntonicgni bxlibnlus onm bnmlibnlus mrgvbrsla sukf vorgotglns gs hbylnm tfb sklpb la lur onocysgs.

  =. ]fb ovbroib mbht tl IMZ rotgl la tfb bgift dlst gnmbhtbm Korghhbon Kld-dungty (KOXGKLD) kluntrgbs possbm tfb ?:: pbrkbnt tfrbsflcm gn 8::7.

2. ]fbsb kluntrgbs wbrb tfb bxkbptglns5 tfb lnbs klvbrbm gn tfb sodpcb klntogntfb do`lrgty la tfb wlrcm‗s plpucotgln.

  1. O klddln mbnldgnotlr la tfb tronsalrdotgln la tfb mldbstgk mbht dor-ebts gn bdbrigni dorebts wos tfb bxponsgln onm irlwtf la tfb clkoc gnvbstlr hosb,

bspbkgoccy nlnhone agnonkgoc gnstgtutglns, dlst nltohcy pbnsgln aunms, hut ocslgnsuronkb kldpongbs onm dutuoc aunms. Alrbgin gnvbstlrs ocsl pcoybm o do`lr rlcbgn kluntrgbs sukf os Hrozgc onm Dbxgkl, wfbrb tfby sflwbm o sgingagkont oppbtgtbalr clkoc-kurrbnky clni-tbrd agxbm-rotb gnstrudbnts.

9. ]fb nudhbr la mbaoucts wos ?2 gn Cotgn Odbrgko, ?? gn Oargko, = gn Osgo,onm = gn Burlpb. Gn Cotgn Odbrgko, alur kluntrgbs mbaouctbm lr rbskfbmucbm tfrbbtgdbs murgni tfot pbrglm.

  6. Aucc onocysgs la tfb bxplsurb la tfb ilvbrndbnt agnonkgoc plsgtgln tl alr-bgin kurrbnky hlrrlwgni rbqugrbs kldpcbtb gnalrdotgln ln ilvbrndbnt stlkes onmaclws. Hbkousb la moto cgdgtotglns, tfgs kfoptbr ginlrbs kosf aclws onm ossudbs tfottfb dogn ilvbrndbnt stlkes orb ilvbrndbnt mbht onm tfb gntbrnotglnoc rbsbrvbs la

tfb kbntroc hone.  7. ]fb gdpcbdbntotgln la dlrb acbxghcb alrbgin bxkfonib rbigdbs gn donybdbrigni dorebts ocsl klntrghutbm tl rbmukgni tfbgr bxplsurb tl sflkes onm aokgcg-totbm om`ustdbnts gn tfb bxtbrnoc okklunts.

?:. ]fb unwbgiftbm rotgl abcc stbomgcy, arld ?.== tl :.99, lvbr tfb sodbpbrglm.

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=?:  onmbrsln, sgcvo, onm vbconmgo-ruhgonl

 ??. ]fb turdlgc wos krbotbm hy o strlni dorebt rboktgln oiognst tfb gnkrbosgniprlhohgcgty la tfb cbat-wgni konmgmotb wgnngni tfb prbsgmbntgoc bcbktglns gn 8::8.

?8. Rnwbgiftbm ovbroibs orb nlt usbm alr tfb rbiglns hbkousb gn sdocc sodpcbs,

kluntrgbs wgtf clw mbht stlkes onm fgif rotgls (alr bxodpcb, Kfgcb) mgstlrt tfbdbon. ]fb trbnms gn unwbgiftbm ovbroibs gnmgkotb tfb sodb strukturoc kfonibs. ?;. ]fb sodpcb gnkcumbm gn agiurb ?1.9 trokes tfb sodb kluntrgbs trokebm hy HG[

alr mldbstgk onm gntbrnotglnoc sbkurgtgbs (sbb fttp0//www.hgs.lri/stotgstgks/sbkstots.ftd). ]fb rotgl la gntbrnotglnoc tl mldbstgk sbkurgtgbs scgiftcy lvbrbstgdotbs tfbrotgl la alrbgin tl clkoc kurrbnky hbkousb la tfb gssuonkb la clkoc kurrbnky hlnms gntfb gntbrnotglnoc kopgtoc dorebts.

 ?=. ]fb GDA Iclhoc Agnonkgoc [tohgcgty Xbplrt  la Oprgc 8::1 mlkudbntbm tfbstrukturoc kfonibs gn tfb mldbstgk hosb la gnvbstlrs gn bdbrigni dorebts, gmbntg-aygni tfb gnkrbosbm rbcbvonkb la gnstgtutglnoc gnvbstlrs os lnb la tfb eby aoktlrshbfgnm tfb gdprlvbdbnts gn tfb prlagcb la bdbrigni dorebt ilvbrndbnt mbht.

?2. Rruiuoy, alr gnstonkb, fos gnmgkotbm tfot gt fos rbcgbm ln gnacotgln-cgnebm

gnstrudbnts tl sfgat arld alrbgin bxkfonib tl clkoc kurrbnky mbht. ?1. Funiory onm Zlconm orb bxkbptglns, rbokfgni tfbgr pboe agvb-ybor krbmgt

mbaouct swop sprboms alr 8::6‛:7 gn cotb Abhruory onm borcy Dorkf 8::7. ]fbbxtbnt la tfb prlhcbds la tfb agnonkgoc systbd gn hltf kluntrgbs bxtbnmbm tfb pbrglmla rbcotgvbcy wgmb onm wgmbngni sprboms.

 ?9. Bdbrigni Zlrtalcgl Aunms Xbsborkf (BZAX) trokes nbt kopgtoc aclws tl okluntry tfrluif hlnm aunms. Nbt kopgtoc aclws arld hlnm aunms orb kldputbm hymbtbrdgngni tfb kfonib gn hlnm aunm ossbts lvbr o pbrglm, wbgiftbm hy tfb pbrkbnt-oib la tfb aunm occlkotbm tl o portgkucor kluntry murgni tfot pbrglm.

 ?6. Irlwtf gn tfb I-9 bklnldgbs (Aronkb, Konomo, Ibrdony, Gtocy, @opon, tfbRngtbm Egnimld, onm tfb Rngtbm [totbs) abcc arld 8.2 pbrkbnt gn 8::9 tl :.? pbrkbnt

gn 8::6 onm ‛;.2 pbrkbnt gn 8::7, trgiibrgni tfb sclwmlwn gn bdbrigni dorebtkluntry irlwtf.

 ?7. Gn Funiory tfb oirbbdbnts wgtf tfb GDA onm tfb Burlpbon Rngln alrkbmo agskoc om`ustdbnt wfgkf ebpt tfb ilvbrndbnt mbagkgt wgtfgn rbcotgvbcy norrlwhonms.

 8:. Agnonkgoc rbskub prlirods gn gnmustrgoc kluntrgbs orb bstgdotbm tl fovb klst?;.8 pbrkbnt la IMZ (Kbkkfbttg, Dlfonty, onm Podplccg 8::7).

 8?. Xldongo gs tfb dlst strgegni bxodpcb. Ot tfb hbignngni la 8::7, prl`bk-tglns alrbkost IMZ irlwtf la 8.7 pbrkbnt onm o mbagkgt la 8.: pbrkbnt la IMZ. Hytfb bnm la tfb ybor, IMZ fom klntroktbm hy 9.: pbrkbnt, onm tfb mbagkgt fom rgsbntl 9.8 pbrkbnt la IMZ.

 88. ]fb gnkrbosb gn cbnmgni wos lnb la tfb rboslns wfy tfb Ylrcm Hone sluifton gnkrbosb gn kopgtoc arld gts sforbflcmbrs.8;. Dlst kluntrgbs agnonkbm huyhokes wgtf kosf rbsbrvbs lr sflrt-tbrd aunmgni

lr tfrluif tfbgr rbiucor ouktglns la dlrb cgqugm gnstrudbnts.8=. [wgtkfbs orb dlst arbqubntcy usbm tl rbmukb mbht aroidbntotgln, klnslcg-

motb corib-sgzb hbnkfdores, onm donoib rbagnonkgni rgse. Hrozgc onm [lutf Oargkofovb ocsl usbm tfbd alr tfbsb purplsbs.

Xbabrbnkbs

Horrl, Xlhbrt @. ?779. –Lptgdoc Donoibdbnt la Gnmbxbm onm Nldgnoc Mbht.— NHBXYlregni Zopbr 1?79, Notglnoc Hurbou la Bklnldgk Xbsborkf, Kodhrgmib, DO.

HG[ (Hone alr Gntbrnotglnoc [bttcbdbnts). 8::6. –Agnonkgoc [tohgcgty onm Clkoc Kur-rbnky Hlnm Dorebts.— HG[ _uortbrcy Xbvgbw Mbkbdhbr.

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puhcgk mbht donoibdbnt gn bdbrigni dorebt bklnldgbs =??

”””. 8::7. HG[ _uortbrcy Xbvgbw. Mbkbdhbr.

Kodphbcc, @. W., onm X. @. [fgccbr. ?771. O [klrbkorm alr Gnmbxbm Ilvbrndbnt Mbht .Kfgkoil0 Rngvbrsgty la Kfgkoil Zrbss.

Kbkkfbttg, [tbpfbn I., D. [. Dlfonty, onm Aohrgzgl Podplccg. 8::7. ]fb Auturbla Zuhcgk Mbht0 Zrlspbkts onm Gdpcgkotglns. Hone alr Gntbrnotglnoc [bttcbdbnts,Hosbc, [wgtzbrconm.

Bgkfbnirbbn, H., onm X. Fousdonn. ?777. –Bxkfonib Xotbs onm Agnonkgoc Aroigc-gty.— Gn Nbw Kfoccbnibs alr Dlnbtory Zlcgky. Zrlkbbmgnis la o sydplsgudsplnslrbm hy tfb Abmbroc Xbsbrvb Hone la Eonsos Kgty, Eonsos Kgty, DL.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::1. Iclhoc Agnonkgoc [tohgcgty Xbplrt0Dorebt Mbvbclpdbnts onm Gssubs. Oprgc. Yosfgnitln, MK.

”””. Gntbrnotglnoc Agnonkgoc [totgstgks motohosb. Yosfgnitln, MK.

 @ZDlrion. 8::7. Bdbrigni Dorebts Mbht onm Agskoc Gnmgkotlrs. Nbw Wlre.

Dgngstry la Agnonkb, Rruiuoy. 8::7. Rruiuoy Mbht Xbplrt . @ucy. Dlntbvgmbl.

LBKM (Lriongsotgln alr Bklnldgk Kl-lpbrotgln onm Mbvbclpdbnt). 8::7. –]fb[urib gn Hlrrlwgni Nbbms la LBKM Ilvbrndbnts0 Xbvgsbm Bstgdotbs alr 8::7onm 8:?: Lutclle.—Agnonkgoc Dorebt ]rbnms 8::7 (8), Zorgs.

Xbgnfort, Kordbn, onm Ebnnbtf Xlilaa. 8::7. ]fgs ]gdb Gs Mgaabrbnt0 Bgift Kbn-turgbs la Agnonkgoc Alccy. Zrgnkbtln, N@0 Zrgnkbtln Rngvbrsgty Zrbss.

Ylrcm Hone. Ylrcm Mbvbclpdbnt Gnmgkotlrs motohosb. Yosfgnitln, MK0 YlrcmHone.

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=?;

?9

Krgsgs Zrbporbmnbss onm Mbht

Donoibdbnt gn Clw-GnkldbKluntrgbs0 [trbnitfbngniGnstgtutglns onm ZlcgkyArodbwlres

Mono Ybgst, Brgel ]lil, Ohfo Zrosom, onm

Ygccgod L‗Hlycb

Gn tfb woeb la tfb agnonkgoc krgsgs la 8::6‛:7, o nudhbr la ilvbrn-dbnts gn hltf mbvbclpbm onm mbvbclpgni kluntrgbs unmbrtlle dossgvbagskoc onm dlnbtory gntbrvbntglns gn lrmbr tl stovb laa o systbdwgmb

agnonkgoc onm bklnldgk klccopsb. ]fb doingtumb la tfb puhcgk cgohgcgtgbs

gnkurrbm os o rbsuct la tfgs unprbkbmbntbm, ochbgt nbkbssory, ilvbrndbntoktgln onm tfb klnsbqubnkbs la bxgtgni arld tfb prl`bktbm fgif-mbht skb-norgl fovb tfbdsbcvbs hbkldb o do`lr slurkb la klnkbrn ohlut o auturbkrgsgs (Hroio 8:?:). Gnmbbm, fgstlry fos sflwn tfot puhcgk hlrrlwgniokkbcbrotbs dorebmcy onm systbdotgkoccy ofbom la o slvbrbgin mbht krgsgs(Xbgnfort onm Xlilaa 8:?:). ]fb Gntbrnotglnoc Dlnbtory Aunm (GDA)prl`bkts tfot ilvbrndbnt mbht tl IMZ rotgls wgcc rgsb tl 62 pbrkbnt gnIrlup la 8: (I-8:) kluntrgbs hy 8:?= os o rbsuct la tfb krgsgs, up arld18 pbrkbnt gn 8::9 (GDA 8::7).? Flwbvbr, I-8: kluntrgbs, wgtf strlnibr

gnstgtutglns onm plcgkgbs, orb hbttbr bqugppbm tl mboc wgtf prbssurbs latfgs egnm. Odlni dlrb vucnbrohcb mbvbclpgni kluntrgbs, bspbkgoccy clw-gnkldb, tfb ohgcgty tl donoib tfbgr puhcgk mbht hurmbns tfrluif o krgsgsla tfgs doingtumb gs aor arld ossurbm.

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=?=  wbgst, tlil, prosom, onm l‗hlycb

Bdpgrgkoc bvgmbnkb supplrts tfb vgbw tfot strlni puhcgk mbht donoib-dbnt gnstgtutglns onm plcgkgbs fovb pcoybm o krgtgkoc rlcb gn dgtgiotgni tfbbaabkts la tfb agnonkgoc krgsgs gn dgmmcb-gnkldb kluntrgbs (sbb kfoptbr ?1).

]l sldb bxtbnt, tfb sodb klucm hb sogm alr clw-gnkldb kluntrgbs, ochbgtalr mgaabrbnt rboslns. Gn dgmmcb-gnkldb kluntrgbs, plsgtgvb plcgky oktglncbm tl rgse rbmuktglns gn tfbgr mbht plrtalcgls gn tfb ybors cbomgni up tl tfbkrgsgs. Gn clw-gnkldb kluntrgbs, krbmgtlr rbcotglns fovb fgstlrgkoccy hbbnmldgnotbm hy tfb laagkgoc sbktlr ln tfb bxtbrnoc arlnt. Gn dony (hut nltocc) kosbs, o koptgvb gnvbstlr hosb ln tfb mldbstgk arlnt fbcpbm prbvbntmbht plrtalcgls arld hbkldgni slurkbs la agnonkgoc vucnbrohgcgty. ]fb kur-rbnt bnvgrlndbnt wgcc hb portgkucorcy kfoccbnigni alr mbht donoibrs gnclw-gnkldb kluntrgbs hbkousb agnonkgni lptglns, arld laagkgoc os wbcc os

prgvotb slurkbs, tfot wbrb ovogcohcb tl tfbd hbalrb tfb krgsgs doy nl clnibrhb ovogcohcb lr doy nlw fovb vbry mgaabrbnt klst onm rgse kforoktbrgstgks.]fb nbw kfoccbnibs tfot fovb bdbribm sgnkb 8::6 kocc alr o rbbvocuotglnla mbht donoibdbnt strotbigbs, alkusgni ln tfb ossbssdbnt onm dgtgiotglnla pltbntgoc rgse.

Octfluif tfb okutb pfosb la tfb krgsgs gs lvbr, dony pgtaoccs rbdogn, alrb-dlst odlni tfbd tfb pltbntgoc alr o nbw slvbrbgin mbht krgsgs (agiurb ?9.?).]fb prbkrgsgs pgkturb gn clw-gnkldb kluntrgbs wos lnb la lptgdgsd. Mbhtrbcgba tfrluif tfb Fbovgcy Gnmbhtbm Zllr Kluntrgbs (FGZK) Gngtgotgvb onm tfb

Agiurb ?9.? Nudhbr la [lvbrbgin Alrbgin KurrbnkyRpirombs, Mlwnirombs, onm Lutclles, 8::=‛?:

=2

=:

;2

;:

82

8:

?2

?:

2

:

  @  o  n   :  =

   D  o  y

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  [  b  p   :  =

  @  o  n   :   2

   D  o  y

   :   2

  [  b  p   :   2

  @  o  n   :  1

   D  o  y

   :  1

  [  b  p   :  1

  @  o  n   :   9

   D  o  y

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  @  o  n   :  6

   D  o  y

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   D  o  y

   :  7

  [  b  p   :  7

  @  o  n   ?  :

upirombs (trogcgni-?8-dlntf sud)

plsgtgvb lutclles ot dlntf-bnm nbiotgvb lutclles ot dlntf-bnm

mlwnirombs (trogcgni-?8-dlntf sud)

[lurkb0 [tonmorm & Zllr‗s 8:?:.

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krgsgs prbporbmnbss onm mbht donoibdbnt =?2

Ductgcotbroc Mbht Xbcgba Gngtgotgvb (DMXG) iovb kluntrgbs nbw agskoc spokbonm rbnbwbm tfb pltbntgoc alr bklnldgk irlwtf, wfgkf gnmukbm nbw krbmg-tlrs wgtf dlrb strgnibnt tbrds tl bnioib wgtf clw-gnkldb kluntrgbs gn hltf

gntbrnotglnoc onm mldbstgk dorebts.Os klnmgtglns gn tfb gntbrnotglnoc kopgtoc dorebts mbtbrglrotbm, dony

sukf pcons fovb hbbn put ln flcm, os o nbw rbocgty fos sbt gn. ]fb clnibr-tbrd trbnm sflws mbkcgngni okkbss tl mlnlr aunmgni os clw-gnkldb klun-trgbs dlvb up tfb mbvbclpdbnt commbr. Aclws doy hb mrygni up bvbn aostbrtfon prbvgluscy prl`bktbm igvbn tfb sbvbrgty la tfb agnonkgoc krgsgs ln slv-brbgin hoconkb sfbbts gn mlnlr kluntrgbs. [ukf o sfgat gn mlnlr aclws konokkbcbrotb tfb nbbm alr clw-gnkldb kluntrgbs tl hlrrlw ln klddbrkgoctbrds, wfgkf klucm ropgmcy gnkrbosb tfb bxplsurb la tfbgr mbht plrtalcgls

tl agnonkgoc rgses ga nlt donoibm prumbntcy. ]fbsb mbvbclpdbnts rbgnalrkbtfb gdplrtonkb la bstohcgsfgni strlni gnstgtutglns onm plcgkgbs.

Mbspgtb rbklingtgln la tfb nbbm alr sukf gnstgtutglnoc strbnitfbngni,mbht donoibdbnt pbralrdonkb gn clw-gnkldb kluntrgbs fos stoinotbm lrbvbn mbtbrglrotbm gn rbkbnt ybors, os dbosurbm hy tfb KZGO Mbht ZlcgkyGnmgkotlr (Ylrcm Hone 8::1). Gn cgift la tfgs, gt gs gdplrtont tl ossbss tfbprglrgty orbos alr gdprlvgni mbht donoibdbnt pbralrdonkb gn o woy tfotgs togclrbm tl kluntry-spbkgagk kgrkudstonkbs onm stoibs la mbvbclpdbnt.Alr kluntrgbs wgtflut tfb nbkbssory cbioc onm gnstgtutglnoc arodbwlretl supplrt baabktgvb mbht donoibdbnt, tfb alkus dust hb ln gmbntgaygnionm ommrbssgni tfbsb wboenbssbs. Alr kluntrgbs tfot fovb tfb gnstgtutglnocunmbrpgnngnis la o aunktglnoc mbht donoibdbnt arodbwlre gn pcokb, tfbalkus sflucm hb ln hugcmgni kopokgty tl mbvbclp dbmgud- tl clni-tbrdmbht donoibdbnt strotbigbs tfot bxodgnb tfb klst-rgse tromb-laas gn lrmbrtl soabiuorm auturb mbht sustognohgcgty. ]fgs gs portgkucorcy gdplrtont gnprbporgni alr auturb krgsbs, os clw-gnkldb kluntrgbs iromuoccy okkuducotbgnkrbosgnicy kldpcbx puhcgk mbht plrtalcgls tfot kldhgnb o wgmbr orroy laagnonkgoc gnstrudbnts arld hltf puhcgk onm prgvotb krbmgtlrs.

Gt gs gn tfgs klntbxt tfot tfgs kfoptbr bxodgnbs tfb oppcgkotgln la twl

iclhoc puhcgk illms gn clw-gnkldb kluntrgbs, tfb Mbht Donoibdbnt Zbr-alrdonkb Ossbssdbnt (MbDZO) onm tfb Dbmgud-]brd Mbht Donoib-dbnt [trotbiy (D]M[) tllcs.8 Mrowgni upln rbsucts arld tfb oppcgkotglnla tfbsb tllcs hbtwbbn 8::9 onm 8::7 prlvgmbs vocuohcb gnalrdotgln tlplcgky doebrs onm ltfbr stoebflcmbrs ln tfb mbvbclpdbnt la slunm puhcgkmbht donoibdbnt proktgkbs onm onocytgkoc kopokgty.

O 8::1 Ylrcm Hone/GDA onocysgs la puhcgk mbht donoibdbnt gnclw-gnkldb kluntrgbs prlvgmbm tfb bdpgrgkoc `ustgagkotgln alr tfb nbbmtl gdprlvb mbht donoibdbnt kopokgty gn clw-gnkldb kluntrgbs (Ylrcm

Hone onm GDA 8::1). Gt sflwbm tfot mbht donoibdbnt plcgky onm fgifgnmbhtbmnbss orb sgingagkontcy rbcotbm gn clw-gnkldb kluntrgbs. ]fgs kfop-tbr hugcms ln tflsb rbsucts hy gmbntgaygni spbkgagk sflrtkldgnis gn mbhtdonoibdbnt gn clw-gnkldb kluntrgbs onm prlvgmgni tfb hosgs alr toribtbmrbalrd prlirods tl gnkrbosb mbht donoibdbnt pbralrdonkb.

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=?1  wbgst, tlil, prosom, onm l‗hlycb

O corib hlmy la cgtbroturb bxgsts ln tfb gdplrtonkb la mbht donoibdbntgn mbvbclpgni kluntrgbs os wbcc os ln tfb cgnes hbtwbbn mbht donoibdbntonm agnonkgoc krgsbs (sbb Onmbrsln onm ]lil 8::75 @ogdlvgkf onm Zongzzo

8::15 Dbcbkey 8::95 Zongzzo 8::65 Ylrcm Hone 8::7o5 Ylrcm Hone onmGDA 8::;). ]fgs kfoptbr hugcms ln tfgs cgtbroturb hy cllegni ot nbw mototfot gmbntgay vucnbrohgcgtgbs onm fgifcgifts orbos alr gdprlvbdbnt.

]fb kfoptbr gs lriongzbm os alcclws. ]fb nbxt sbktgln igvbs o hrgba lvbr-vgbw la tfb krgsgs, poygni portgkucor ottbntgln tl gts baabkts ln clw-gnkldbkluntrgbs. ]fb sbklnm sbktgln clles ot tfb ungqub kfoccbnibs mbvbclpgnikluntrgbs, portgkucorcy clw-gnkldb kluntrgbs, aokb wgtf rbiorm tl mbhtdonoibdbnt. ]fb tfgrm sbktgln alkusbs ln tfb rbsucts la tfb MbDZO onmD]M[ tllcs onm wfot tfby soy ohlut tfb kurrbnt stotb la mbht donoib-

dbnt gn clw-gnkldb kluntrgbs. Gt gmbntgagbs prglrgty orbos alr gdprlvbdbntonm fgifcgifts pltbntgoc pgtaoccs gn tfb kurrbnt bnvgrlndbnt. ]fb cost sbk-tgln prlvgmbs sldb klnkcumgni rbdores.

]fb Iclhoc Agnonkgoc Krgsgs onm Mbvbclpgni Kluntrgbs

]fb iclhoc agnonkgoc onm bklnldgk krgsgs la 8::6‛:7 fos sgingagkontcyoctbrbm tfb bklnldgk conmskopb alr mbvbclpgni kluntrgbs. ]fb baabkts la tfbkrgsgs fovb hbbn mgvbrsb, o aunktgln la hltf mbvbclpdbntoc onm strukturocaoktlrs. Dony Bostbrn Burlpbon bklnldgbs tfot wbrb fgifcy gntbirotbmwgtf onm rbcgont ln Ybstbrn Burlpbon kopgtoc dorebts wbrb form fgt hyagnonkgoc klntoigln onm tfb summbn stlp gn kopgtoc aclws. Gn klntrost,clw-gnkldb kluntrgbs, wgtf agnonkgoc sbktlrs tfot wbrb coribcy nlt gntb-irotbm wgtf tfb iclhoc dorebts, wbrb gnsucotbm arld tfb agnonkgoc dorebtklntoigln tfot sprbom arld mbvbclpbm bklnldgbs. ]fby wbrb, flwbvbr,sbvbrbcy oaabktbm hy tfb mbkcgnb gn bxplrts onm aoccgni klddlmgty prgkbs.Os o rbsuct, mbvbclpgni kluntrgbs nlw aokb o nbw onm dlrb prbkorglusplstkrgsgs bnvgrlndbnt, tfb do`lr klnsbqubnkb la wfgkf wgcc hb pltbntgoc

rbmuktglns gn trbnm irlwtf lvbr tfb dbmgud tbrd (agiurb ?9.8).Ygtf tfb bxkbptgln la sldb corib bdbrigni dorebts tfot kodb gntl

tfb krgsbs wgtf strlni aunmodbntocs onm corib bxtbrnoc surpcusbs, kopgtocgnaclws fovb mbkcgnbm sforpcy alr dlst mbvbclpgni kluntrgbs. Alr bxodpcb,octfluif Kfgno, Gnmgo, onm Gnmlnbsgo fovb rbklvbrbm tl tfbgr prbkrgsgscbvbcs, tfb rbst la mbvbclpgni Osgo fos nlt (agiurb ?9.;). [gdgcorcy, Kbntroconm Bostbrn Burlpb, wfgkf fos coribr kurrbnt okklunt mbagkgts onm irbotbrrbcgonkb ln alrbgin kopgtoc, sow prgvotb aclws mbkcgnb tl hbclw 8::2 cbvbcsgn 8::7 (agiurb ?9.=).

Mbspgtb tfbsb mbkcgnbs, tfb agnonkgni nbbms la mbvbclpgni kluntrgbs fovbnlt aoccbn (agiurb ?9.2). Lvbrocc, nbt prgvotb kopgtoc aclws tl mbvbclpgnikluntrgbs gn 8::7 orb bstgdotbm tl fovb aoccbn hy $972 hgccgln rbcotgvbtl tfbgr 8::9 pboe5 tltoc bxtbrnoc agnonkgni nbbms, dbosurbm hy kurrbntokklunt mbagkgts onm doturgni prgvotb mbht, orb $?.8 trgccgln. Clw-gnkldb

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krgsgs prbporbmnbss onm mbht donoibdbnt =?9 

kluntrgbs wgcc suaabr tfb dlst arld tfgs mbkcgnb, os tfbgr ocrbomy clw8.1 pbrkbnt la tltoc prgvotb kopgtoc aclws gs prl`bktbm tl aocc tl ocdlst

zbrl gn 8:?:. Octfluif sdocc gn ohslcutb tbrds, tfbsb aclws rbprbsbnt osgingagkont sforb la notglnoc gnkldb, gnvbstdbnt, onm humibtory supplrt.]fbgr clss wgcc fovb o sbvbrb gdpokt ln tfb ohgcgty la clw-gnkldb kluntrgbstl dbbt tfbgr agnonkgni nbbms gn tfb sflrt tl dbmgud tbrd (Ylrcm Hone8:?:o). Kluntrgbs bcgighcb alr slat clons onm ironts arld tfb GntbrnotglnocMbvbclpdbnt Osslkgotgln (GMO) doy rbqugrb os dukf os $;2 hgccgln‛$2: hgccgln gn ommgtglnoc aunmgni gn 8:?: ̀ ust tl dogntogn 8::6 prlirodcbvbcs, ln tlp la tfb rbslurkbs nbkbssory tl aunm ommgtglnoc mbdonmskrbotbm hy tfb krgsgs (Ylrcm Hone onm GDA 8::7k).

]giftbr rbiucotgln gn fgif-gnkldb kluntrgbs onm tfb nbbm alr ductgno-tglnoc hones tl klnsbrvb kopgtoc wgcc ocsl gdpbmb alrbgin hone cbnmgni gnmbvbclpgni kluntrgbs. Gn sldb rbiglns irlwgni portgkgpotgln hy alrbginhones gn mldbstgk agnonkgoc systbds supplrtbm tfb ropgm rgsb gn mldbs-tgk agnonkgoc gntbrdbmgotgln. Gnmbbm, tfb bxponsgln gn mldbstgk krbmgt gn

Agiurb ?9.8 Oktuoc onm Zrl`bktbm IMZ Irlwtf, 8::1‛?=

[lurkbs0 GDA 8::7, 8:?:o.Nltb0 BMDB0 Bdbrigni onm mbvbclpgni dorebt bklnldy. Gnmbx 8::1 4 ?::.

?12

?22

?=2

?;2

?82

??2

?:2

72

  8  :  :  1

  8  :  :   9

  8  :  :  6

  8  :  :  7

  8  :  ?  :

  8  :  ?  ?

  8  :  ?  8

  8  :  ?  ;

  8  :  ?  =

omvonkbm Oprgc 8::9

omvonkbm Lktlhbr 8::7

omvonkbm Oprgc 8:?:

BMDB Oprgc 8::9

BMDB Lktlhbr 8::7

BMDB Oprgc 8:?:

   g  n   m  b  x

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=?6  wbgst, tlil, prosom, onm l‗hlycb

mbvbclpgni kluntrgbs wos mgrbktcy rbcotbm tl IMZ irlwtf onm tfb bxtbnt tlwfgkf alrbgin hones gnkrbosbm tfbgr dorebt sforbs (agiurb ?9.1). Alrbginmgrbkt gnvbstdbnt (AMG) gs usuoccy cbss vlcotgcb onm sflucm hb cbss oaabktbmhy tfb krgsgs tfon mbht lr bqugty aclws. Flwbvbr, porbnt agrds wgcc aokb

fgifbr kopgtoc klsts, wfgkf orb cgebcy tl rbmukb tfbgr ohgcgty tl agnonkbgnmgvgmuoc prl`bkts. ]fb rboc-sgmb klnsbqubnkbs la sukf o mbkcgnb klucm hbsbrglus, hbkousb AMG rbprbsbnts on gdplrtont sforb la agxbm gnvbstdbntgn mbvbclpgni rbiglns, portgkucorcy gn clw-gnkldb kluntrgbs (agiurb ?9.9).Xbdgttonkbs, onltfbr gdplrtont onm rbsgcgbnt slurkb la kopgtoc alr clw-gnkldb kluntrgbs, fovb mbkcgnbm sforpcy (agiurb ?9.6) onm orb nlt prl`bktbmtl rbiogn tfbgr prbkrgsgs cbvbcs untgc 8:?8 (Dlfopotro onm Xotfo 8:?:).

]fb clnibr-run baabkts la tfb mbkcgnb gn kopgtoc aclws orb sbrglus alrclw-gnkldb kluntrgbs, portgkucorcy hbkousb mbagkgbnkgbs gn mldbstgk gntbr-

dbmgotgln systbds orb cgebcy tl prbvbnt tfbd arld kldpbnsotgni alr orbmukbm alrbgin prbsbnkb. Flwbvbr, clw-gnkldb kluntrgbs orb nlt wgtfluto pltbntgoc rbdbmy, portgkucorcy rbiormgni gdprlvbdbnt gn tfbgr plcgkgbs,gnstgtutglns, onm tfb lvbrocc rbiucotlry bnvgrlndbnt. Xbkbnt bdpgrgkocwlre sflws tfot tfb gnbaagkgbnkgbs gn mldbstgk agnonkgoc sbktlrs irbotcygnacubnkb hlrrlwgni klsts gn mbvbclpgni kluntrgbs (Ylrcm Hone 8:?:o).

Agiurb ?9.; ]ltoc Zrgvotb Kopgtoc Aclws tl Mbvbclpgni OsgonKluntrgbs, 8::2‛:7

[lurkb0 GDA 8:?:o.

;::

82:

8::

   g  n   m  b

  x   (   8   :   :   2  4   ?   :   :   )

?2:

?::

2:

:8::2 8::1 8::9 8::6 8::7

Kfgno Gnmgo

Gnmlnbsgo ltfbr mbvbclpgni Osgo

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krgsgs prbporbmnbss onm mbht donoibdbnt =?7

Gdprlvbdbnts gn plcgkgbs onm gnstgtutglns ilvbrngni tfb agnonkgoc sbktlrkon tfus sgingagkontcy hllst mldbstgk agnonkgoc gntbrdbmgotgln tl on bxtbnttfot klucm lutwbgif tfb pltbntgoc nbiotgvb gdpokt la fgifbr iclhoc rgseprbdguds, laasbttgni sldb la tfb clni-tbrd baabkts la tfb agnonkgoc krgsgs.; 

Aokbm wgtf o cbss oktgvb bxtbrnoc agnonkgni systbd, tfb outflrgtgbs gnmbvbclpgni kluntrgbs dust toeb stbps tl gdprlvb puhcgk mbht donoib-

dbnt proktgkbs, gnkcumgni baalrts tl mbvbclp mldbstgk mbht dorebts, onmtl hugcm tfb gnstgtutglnoc kopokgty nbkbssory tl omopt tl kfonibs gn tfbgntbrnotglnoc agnonkgoc bnvgrlndbnt tl kusfgln tfb baabkts la bxlibnlussflkes. [ukf gdprlvbdbnts wgcc mbkrbosb dorebt pbrkbptglns la rgse onmgnkrbosb klst baagkgbnky, dgtgiotgni tfb baabkts la cbss aovlrohcb bxtbrnocagnonkgoc klnmgtglns. [ukf gdprlvbdbnts wgcc ocsl fbcp rbmukb vucnbrohgc-gty tl auturb krgsbs.

Mbht Donoibdbnt, tfb Krgsgs, onm Clw-GnkldbKluntrgbs

Baabktgvb mbht donoibdbnt klvbrs sukf gssubs os bnsurgni baabktgvb plcgkgbsonm prlkbmurbs alr unmbrtoegni hlrrlwgnis tfrluif bxtbrnoc onm mldbs-tgk dorebts5 mbsgingni onm gdpcbdbntgni o dbmgud-tbrd mbht donoibdbnt

[lurkb0 GDA 8:?:o.

Agiurb ?9.= Zrgvotb Kopgtoc Aclws tl Kbntroc onm BostbrnBurlpb, 8::2‛:7

2::

=2:

=::

;2:

;::

   g  n   m

  b  x   (   8   :   :   2  4   ?   :   :   )

82:

8::

?2:

?::

2:

:

8::2 8::1 8::9 8::6 8::7

hlnm clon bqugty

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=8:  wbgst, tlil, prosom, onm l‗hlycb

strotbiy5 onm puttgni gn pcokb baabktgvb systbds alr omdgngstrotgln, onocy-sgs, onm rbplrtgni la mbht moto (Ylrcm Hone 8::7o, 8::7h). Gn tgdbs la

krgsgs, slvbrbgins‗ okkbss tl rbslurkbs, portgkucorcy tfrluif bxtbrnoc dor-ebts, gs strbssbm. ]fbrb gs tfus on uribnt nbbm alr prumbnt onm baabktgvb mbhtdonoibdbnt strotbigbs, plcgkgbs, onm prlkbmurbs tl stovb laa onm dgtgiotbvucnbrohgcgtgbs ot sukf tgdbs.

Clw-gnkldb kluntrgbs aokb cgdgtbm kflgkbs wgtf rbiorm tl mbht don-oibdbnt. ]fbgr gntbrnoc kfoccbnibs cgb gn mbvbclpgni ombquotb kopokgty tldonoib puhcgk mbht baabktgvbcy, portgkucorcy gn bstohcgsfgni gnstgtutglnoconm ilvbrnonkb orronibdbnts onm mbvbclpgni onocytgkoc kopohgcgtgbs.]fbgr kflgkbs orb sgingagkontcy dlrb cgdgtbm wgtf rbspbkt tl tfb slurkbs onm

gnstrudbnts tfby kon okkbss tl dbbt tfbgr agnonkgni nbbms (agiurb ?9.7).]fb krbmgtlr kldplsgtgln onm klnkbssglnocgty la tfb mbht plrtalcglocsl mgaabr dorebmcy gn clw- onm dgmmcb-gnkldb kluntrgbs (agiurb ?9.?:).Ductgcotbroc onm laagkgoc hgcotbroc krbmgtlrs doeb up dlrb tfon 72 pbrkbntla tfb puhcgk onm puhcgkcy iuorontbbm bxtbrnoc mbht fbcm hy clw-gnkldb

[lurkb0 Ylrcm Hone 8:?:o.

Agiurb ?9.2 Zrl`bktbm Bxtbrnoc Agnonkgni Nbbms os o [forbla IMZ gn 8:?:, hy Xbigln

?1

?=

?8

?:

  p  b  r  k

  b  n   t  o  i  b  l   a   I   M   Z

6

1

=

8

:

   B  u  r  l  p  b

   o  n  m

  K  b  n   t  r  o   c   O

  s   g  o

  [  u   h  -

  [  o   f  o

  r  o  n

  O  a  r   g  k  o

   B  o  s   t   O  s   g  o 

  o  n  m

   Z  o  k   g  a   g  k

   D   g  m  m

   c  b    B  o

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  o  n  m    N  l

  r   t   f

  O  a  r   g  k  o

   C  o   t   g  n

   O  d  b  r   g  k  o

   o  n  m

   t   f  b

   K  o  r   g   h   h

  b  o  n

  [  l  u   t   f   O  s   g  o

kurrbnt okklunt doturgni alrbgin mbht

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krgsgs prbporbmnbss onm mbht donoibdbnt =8?

Agiurb ?9.1 Clkoc Kurrbnky Cbnmgni os o Zbrkbntoib la ]ltocCbnmgni hy Alrbgin Hones, ?777‛8::6

[lurkb0 GDA 8:?:h.

1:

2:

=:

;:

8:

?:  p  b  r  k

  b  n   t  o  i  b  l   a   t  l   t  o   c   c  b  n   m   g  n  i

:

  ?  7  7  7

   _  =

  8  :  :  :

   _  =

  8  :  :  ?

   _  =

  8  :  :  8

   _  =

  8  :  :  ;

   _  =

  8  :  :  =

   _  =

  8  :  :   2

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  8  :  :  1

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  8  :  :   9

   _  =

  8  :  :  6

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bdbrigni Osgo bdbrigni Burlpb Cotgn Odbrgko

?=:?8; ?8?

?:1

61

9;99

17

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6:

1:

   h   g   c   c   g  l  n  s  l   a   m  l   c   c  o  r  s

=:

8:

:

_? _8

8::6 8::7

_; _= _? _8 _;

Agiurb ?9.9  AMG Aclws tl Mbvbclpgni Kluntrgbs, 8::6‛:7

[lurkb0 Ylrcm Hone 8:?:o.

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=88  wbgst, tlil, prosom, onm l‗hlycb

kluntrgbs. Dlrb tfon 7: pbrkbnt la tfgs mbht gs klntroktbm ln klnkbssglnoctbrds, wgtf hbclw-dorebt gntbrbst rotbs onm clni doturgty pbrglms. Coribcyagxbm-rotb klnkbssglnoc slurkbs la aunmgni cgdgt bxplsurb tl gntbrbst rotbrgse, hut tfb klnsbqubnt bxplsurb tl kurrbnky rgse fos hbbn sgingagkont.Hy klntrost, lnb-tfgrm la tfb puhcgk bxtbrnoc mbht stlke gn dgmmcb-gnkldb

kluntrgbs gs domb up la klddbrkgoc krbmgts. ]fb kldhgnotgln la klddbr-kgoc mbht onm nlnklnkbssglnoc agnonkgni prlvgmbm hy hgcotbroc onm ductg-cotbroc gnstgtutglns gdpcgbs tfot dlrb tfon foca la dgmmcb-gnkldb kluntrymbht gs klntroktbm ln nlnklnkbssglnoc tbrds.

]romgtglnoccy, tfb typgkoc strotbiy alr clw-gnkldb kluntrgbs fos hbbntl doxgdgzb klnkbssglnoc mbht. [ukf o strotbiy dgngdgzbs mbht-sbrvgkgniklsts, cbomgni tl o clwbr rgse la mbht mgstrbss onm gdprlvbm mbht sustogn-ohgcgty. Gt ocsl rbsucts gn sgingagkont bxkfonib rotb rgse (agiurb ?9.??). Gndony clw-gnkldb kluntrgbs, tfb dgx la bxtbrnoc onm mldbstgk agnonkgni

gs nlt o kflgkb hut rotfbr o aunktgln la tfb gntbrnotglnoc mlnlr klddu-ngty‗s wgccgninbss onm ohgcgty tl prlvgmb bxtbrnoc agnonkgni, wgtf mldbstgkagnonkgni usbm os o rbsgmuoc tl kclsb tfb aunmgni iop. ]fb kforoktbrgstgks lamlnlr aunmgni kon hb fgifcy omvontoiblus, hut wfbn tfb dgx la bxtbrnoconm mldbstgk mbht agnonkgni gs nlt o mldbstgk plcgky kflgkb, tfb sklpb alr

=:

;:

  p  b  r  k  b  n   t  o  i  b  k   f  o  n  i  b

8:

?:

:

‛?:

‛8:

8::1 8::9 8::6 8::7 8:?: 8:??

mbvbclpgni Burlpb onm Kbntroc Osgo

Cotgn Odbrgko onm tfb Korghhbon

Agiurb ?9.6 Kfonibs gn Xbdgttonkb Aclws, 8::1‛??

[lurkb0 Dlfopotro onm Xotfo 8:?:.Nltb0 Agiurbs alr 8::7 orb bstgdotbs. Agiurbs alr 8:?: onm 8:?? orb

prl`bktglns.

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krgsgs prbporbmnbss onm mbht donoibdbnt =8;

baabktgvb onm gnmbpbnmbnt plcgky doegni gs klnstrognbm. Alkusgni slcbcyln bxtbrnoc slurkbs la aunmgni kon ocsl cbom tl tfb nbicbkt la mldbstgkmbht dorebt mbvbclpdbnt, on gdplrtont octbrnotgvb tfot prlvgmbs ommg-tglnoc mbirbbs la arbbmld, latbn wgtf clwbr tronsoktgln klsts, tl tfb mbhtdonoibr. ]fgs octbrnotgvb gs bspbkgoccy gdplrtont wfbn okkbss tl bxtbrnocagnonkgni fos hbbn rbmukbm.

]fb kurrbnt bnvgrlndbnt gs portgkucorcy kfoccbnigni alr mbht donoibrsgn clw-gnkldb kluntrgbs hbkousb tfb agnonkgni lptglns tfot wbrb ovogcohcbgn 8::9 nlw fovb vbry mgaabrbnt klst onm rgse kforoktbrgstgks. Onocysgs la

tfb krgsgs baabkts ln mlnlr agnonkgni gccustrotbs tfb corib bxtbnt tl wfgkfmlnlr kluntry ogm mbkcgnbs gn tfb ybors oatbr o honegni krgsgs, plsgni osgingagkont rgse tl agskoc onm mbht sustognohgcgty gn clw-gnkldb kluntrgbs.

Ogm aclws arld krgsgs-oaabktbm mlnlr kluntrgbs kon mbkrbosb sgingagkontcyalr o mbkomb lr dlrb plstkrgsgs (agiurb ?9.?8). ]fgs vlcotgcb onm kfonigni

ltfbr cgohgcgtgbs,

9.9%

ltfbr cgohgcgtgbs,

;.:%

clons, 78.;%

ltfbr cgohgcgtgbs,

;.7%

ltfbr cgohgcgtgbs,

8.8%

tromb krbmgts,

9.;%

tromb krbmgts,

9.;%

tromb krbmgts,

?.?%

kurrbnky

onm

mbplsgts,

1.8%

kurrbnky

onm

mbplsgts,

?:.8%

kurrbnky onm

mbplsgts,

8=.2%

clons, =7.=% clons, 8;.;%

mbht sbkurgtgbs,

=6.7%

mbht sbkurgtgbs,

?=.?%

clons, 1?.2%

mbht sbkurgtgbs,

;;.8%

o. Clw-gnkldb kluntrgbs h. Clw-dgmmcb-gnkldb kluntrgbs

k. Rppbr-dgmmcb-gnkldb kluntrgbs h. Fgif-gnkldb (LBKM) kluntrgbs

Agiurb ?9.7 Kldplsgtgln la Bxtbrnoc Zuhcgk onm ZuhcgkcyIuorontbbm Mbht, hy Gnkldb Cbvbc, 8::7

[lurkb0 Ylrcm Hone 8::7m.Nltb0 LBKM 4 Lriongsotgln alr Bklnldgk Kl-lpbrotgln onm Mbvbclpdbnt.

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=8=  wbgst, tlil, prosom, onm l‗hlycb

lutclle alr mbht dorebts, krbmgtlrs, onm mlnlrs fgifcgifts tfb gdplrtonkbla mbvbclpgni onm dogntogngni o mgvbrsb ronib la agnonkgni slurkbs onm orbsgcgbnt slurkb la mldbstgk sovgnis tl ohslrh sflrtaoccs gn bxtbrnoc agnonk-gni. Clw-gnkldb kluntrgbs orb klnstrognbm, flwbvbr, gn tfot tfb sklpb tlsuhstgtutb bxtbrnoc klnkbssglnoc slurkbs wgtf mldbstgk sovgnis gs sbvbrbcy

nlnklnkbssglnoc,7.9%

nlnklnkbssglnoc,

2;.1%

klnkbssglnoc,

=1.=%

ductgcotbroc, ;7.=%

prgvotb,

;;.;%

hgcotbroc,

89.8%

ductgcotbroc, 18.=%

prgvotb, ;.1%

hgcotbroc, ;=.:%

k. Klnkbssglnocgty gnclw-gnkldb kluntrgbs

m. Klnkbssglnocgty gndgmmcb-gnkldb kluntrgbs

h. Krbmgtlr kldplsgtgln gndgmmcb-gnkldb kluntrgbs

o. Krbmgtlr kldplsgtgln gnclw-gnkldb kluntrgbs

klnkbssglnoc, 7:.;%

Agiurb ?9.?: Krbmgtlr Kldplsgtgln onm Klnkbssglnocgty laBxtbrnoc Zuhcgk onm Zuhcgkcy Iuorontbbm Mbht gn Clw- onmDgmmcb-Gnkldb Kluntrgbs, 8::6

[lurkb0 Ylrcm Hone 8:?:o.

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krgsgs prbporbmnbss onm mbht donoibdbnt =82

R.[. mlccor, 28.?%

ltfbr, ?7.:%

[pbkgoc

Mrowgnis

Xgifts, ?:.2%

burl, 9.7%

ybn, 2.:%

Agiurb ?9.?? Kurrbnky Kldplsgtgln la Bxtbrnoc Mbht gnClw-Gnkldb Kluntrgbs, 8::6

[lurkb0 Ylrcm Hone 8:?:o.

cgdgtbm hbkousb la tfb stotb la mldbstgk dorebt mbvbclpdbnt lr tfb coke lao vgohcb mldbstgk dorebt, os gn tfb kosb la sdocc stotbs. ([bb kfoptbr 6 alron onocysgs la tfb bvlcutgln la mldbstgk mbht gn sdocc stotbs.)

Mbht donoibrs klucm unmbrtoeb o sgdpcb onocysgs tl mbtbrdgnb tfb rbco-

tgvb omvontoibs onm mgsomvontoibs la okkbssgni bxtbrnoc vbrsus mldbstgkmbht. ]fb onocysgs kldporbs tfb alrworm bxkfonib rotb ot tgdb t  usgnigdpcgbm rboc gntbrbst rotbs wgtf tfb alrworm bxkfonib rotb usgni rboc gntbrbstrotbs (tohcb ?9.?). ]fgs onocysgs igvbs tfb mbht donoibr twl mgaabrbnt tfbl-rbtgkoc rotbs. Gn tfblry, tfb alrworm bxkfonib rotb igvbs tfb rotb ot wfgkftfbrb sflucm hb nl prbabrbnkb hbtwbbn klntroktgni bxtbrnoc lr mldbstgkmbht. Ga usgni tfb gdpcgbm rotbs tronscotbs gntl o coribr mbprbkgotgln nbbmbmtl rbokf tfb bqugcghrgud plgnt, tfb hgos gs tlworm bxtbrnoc mbht hbkousbunmbr tfb gdpcgbm skbnorgl, tfb bxtbrnoc lptgln gs cbss bxpbnsgvb tfon tfb

mldbstgk octbrnotgvb. ]fb dbssoib gs twlalcm. Agrst, hbkousb la klnkbssgln-ocgty, clw-gnkldb kluntrgbs prbabr tl doxgdgzb klnkbssglnoc mbht (sbb klun-trgbs K onm I). Flwbvbr, tfb hgos tlworm klnkbssglnoc mbht gs nlt ocwoys oscorib onm sukf mbht gs nlt os klst-baabktgvb os dony ossudb (sbb kluntrgbs Oonm B). Gn sldb kosbs, mbspgtb mlnlr klnkbssglnocgty, klntroktgni mldbstgk

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=81  wbgst, tlil, prosom, onm l‗hlycb

8?:

   g  n   m  b  x

ybors arld krgsgs (krgsgs 4 :)

?7:

?9:

?2:

?;:

??:

7:

9:

2:

‛?: ‛6 ‛1 ‛= ‛8 : 8 = 1 6 ?:

krgsgs kluntrgbs nlnkrgsgs kluntrgbs

Agiurb ?9.?8 Nbt Mgshursbm Ogm tl Krgsgs onm NlnkrgsgsMlnlr Kluntrgbs, ?799‛8::9

[lurkb0 Moni, Enoke, onm Xlibrs 8::7.Nltb0 Qbrtgkoc mosfbm cgnb sflws ybor la krgsgs, wfbn gnmbx vocub gs ?::.

Moto ml nlt gnkcumb tfb Xbpuhcgk la Elrbo, wfgkf hbkodb o mlnlr lncy gn?77:.

mbht doy hb dlrb omvontoiblus hbkousb la nbiotgvb rboc gdpcgbm mldbstgkgntbrbst rotbs (sbb kluntrgbs H, M, onm A). Kluntrgbs wgtf o hgos tlwormmldbstgk mbht, lr o dgcm hgos tlworm bxtbrnoc mbht, kon ocsl usb sukf ononocysgs tl supplrt mbkgsglns tl aurtfbr mbvbclp mldbstgk dorebts. Gmbntgag-kotgln la tfgs tromb-laa fgifcgifts tfb gdplrtonkb la mbvbclpgni tfb rbqugsgtbonocytgkoc kopokgty gn mbht donoibdbnt laagkbs.

]fb MbDZO onm D]M[ Onocytgkoc ]llcs

Octfluif mbht-rbstrukturgni onm mbht rbcgba gngtgotgvbs fovb irbotcy hbn-bagtbm fbovgcy gnmbhtbm kluntrgbs gn puttgni tfbd hoke ln tfb troke la mbhtsustognohgcgty, tfby ml nlt ommrbss tfb kousb la mbht mgstrbss, portgkucorcygn tfb aokb la krgsbs. Gn 8::; tfb Ylrcm Hone onm GDA puhcgsfbm Iugmb-cgnbs  alr  Zuhcgk Mbht Donoibdbnt , tl fbcp rbmukb mbvbclpgni-kluntryvucnbrohgcgty tl gntbrnotglnoc agnonkgoc sflkes. Mbspgtb irlwgni rbkling-

tgln la tfb hbnbagts la mbht donoibdbnt, dbosurbs la mbht donoibdbntpbralrdonkb fovb nlt sflwn gdprlvbdbnt gn clw-gnkldb kluntrgbs. Gnaokt, mbht donoibdbnt, os dbosurbm hy tfb Kluntry Zlcgky onm Gnstg-tutglnoc Ossbssdbnt (KZGO) Mbht Zlcgky Gnmgkotlr, fos sflwn dorignocmbtbrglrotgln gn rbkbnt ybors, aoccgni arld ;.;8 gn 8::2 tl ;.86 gn 8::1

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=  8   9  

]ohcb ?9.? Onocysgs la Bxtbrnoc/Mldbstgk Mbht Hgos(pbrkbnt, bxkbpt wfbrb ltfbrwgsb gnmgkotbm)

Qorgohcb

Kluntry

O H K M

Xboc gntbrbst rotb 9.6: ‛:.=: :.6: 9.2:

Bxtbrnoc rboc gntbrbst rotb 8.7: 8.7: 8.7: 8.7:

Gdpcgbm mldbstgk rboc gntbrbst rotbln ilvbrndbnt mbht ;.=: ‛;.?: 9.:: ‛:.=:

Gdpcgbm bxtbrnoc rboc gntbrbst rotbln ilvbrndbnt mbht ‛8.6= :.6: ‛:.?: ‛:.8:

Alrworm alrbgin bxkfonib rotb otrboc rotbs (CKR/$) 9?.69 1.1? 19.91 ;,7?;.8: ?,8

Alrworm alrbgin bxkfonib otgdpcgbm rotbs (CKR/$) 9;.:? 1.21 9=.:7 ;,9;6.?2 ?,8

Zbrkbntoib plgnt mgaabrbnkb gnalrworm rotb (plsgtgvb 4 bxtbrnocmbht hgos) ?.26 ‛:.16 7.;= ‛=.=9

[lurkb0 Outflrs‗ kockucotglns hosbm ln sodpcb la sbvbn kluntrgbs gn wfgkf MbDZO onm D]M[ onocysgs onm gnacotgln rotbs orb usbm alr tfb bxtbrnoc skbnorgl5 krlss-rotbs orb nlt klnsgmbrbm.

Nltb0 CKR 4 clkoc kurrbnky ungt.

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=86  wbgst, tlil, prosom, onm l‗hlycb

onm 8::9. ]fgs mbtbrglrotgln gs gdplrtont hbkousb tfb quocgty la mbhtdonoibdbnt onm tfb prlhohgcgty la hbkldgni fbovgcy gnmbhtbm (tfotgs, fovgni o prbsbnt vocub la mbht tl bxplrts rotgl la ?2: pbrkbnt) orb

kclsbcy rbcotbm gn clw-gnkldb kluntrgbs. Zrlhgt rbirbssgln onocysgs latfb rbcotglnsfgp hbtwbbn o kluntry‗s KZGO mbht donoibdbnt sklrb onmgts prlhohgcgty la hbkldgni o FGZK sflws tfot on gnkrbosb gn tfb quocgtyla mbht donoibdbnt bqugvocbnt tl o lnb-plgnt gnkrbosb gn tfb KZGO MbhtZlcgky Gnmgkotlr rbmukbs tfb prlhohgcgty la o clw-gnkldb kluntry fovgni onunsustognohcb mbht hurmbn hy 82 pbrkbnt (sbb onnbx tohcb ?9O.? alr prlhgtrbsucts) (Ylrcm Hone 8::1). ]fbsb agnmgni orb rbgnalrkbm hy o wgmbr hlmyla bdpgrgkoc wlre tfot agnms strlni cgneoibs hbtwbbn mbht mgstrbss onm gnstg-tutglnoc quocgty (Erooy onm Nbfru 8::15 Xbgnfort, Xlilaa, onm [bvostonl

8::;). On gdplrtont klnkcusgln arld tfgs onocysgs gs tfot octfluif tfbFGZK Gngtgotgvb onm tfb DMXG fovb rbmukbm mbht hurmbn gnmgkotlrs, tfbrbgs o klntgnubm nbbm tl gdprlvb mbht donoibdbnt kopokgty onm gnstgtutglnsgn clw-gnkldb kluntrgbs gn lrmbr tl rbmukb tfb rgse la mbht mgstrbss.

]fb MbDZO

]fb MbDZO gs o hbnkfdoregni bxbrkgsb tfot ossbssbs o kluntry‗s mbhtdonoibdbnt strbnitfs onm wboenbssbs. Gt bxodgnbs tfb gnstgtutglnocunmbrpgnngnis la ilvbrndbnt mbht donoibdbnt proktgkb onm prlkbmurbstfrluif o kldprbfbnsgvb sbt la ?2 mbht pbralrdonkb gnmgkotlrs tfot klvbrtfb aucc ronib la ilvbrndbnt mbht donoibdbnt lpbrotglns. Gt ocsl ossbssbstfb lvbrocc bnvgrlndbnt gn wfgkf tfbsb lpbrotglns orb klnmuktbm. ]fbMbDZO ogds tl dbosurb ilvbrndbnt mbht donoibdbnt pbralrdonkb onmkopturb tfb bcbdbnts rbklingzbm os gnmgspbnsohcb tl okfgbvgni slunm mbhtdonoibdbnt proktgkb. On gdplrtont aokbt la tfb tllc gs tfb bdpfosgsgt puts ln mbht donoibdbnt prlkbssbs onm kopokgty, hltf la wfgkf orbrbqugrbm alr baabktgvb mbht donoibdbnt.

]fb MbDZO bdpfosgzbs dbbtgni tfb dgngdud rbqugrbdbnts ln occ

dbosurbs (tfot gs, rbkbgvgni sklrbs la ot cbost K).= Mlgni sl gnmgkotbs tfot okluntry plssbssbs tfb ombquotb gnstgtutglns onm kopokgty tl korry lut bssbn-tgoc mbht donoibdbnt aunktglns baabktgvbcy. Aogcurb tl dbbt tfb dgngdudrbqugrbdbnts sginocs on orbo alr prglrgty ottbntgln onm rbalrd. ]fb rbsuctsla o MbDZO kon fbcp iugmb tfb mbsgin la sbqubnkbm onm oktglnohcb rbalrdprlirods, aokgcgtotb tfb dlngtlrgni la pbralrdonkb lvbr tgdb, onm bnfonkbmlnlr fordlngzotgln hosbm ln o klddln unmbrstonmgni la prglrgtgbs.2 

Borcy rbsucts arld tfb MbDZO bxbrkgsb orb usbauc gn gmbntgaygni prglrgtyorbos alr mbht donoibdbnt rbalrd okrlss kluntrgbs.1 Gnmgkotlrs alr wfgkf

abwbr tfon ?: kluntrgbs gn tfb sodpcb dbt tfb dgngdud rbqugrbdbntsorb gmbntgagbm hy tfb gnnbr kgrkcb gn agiurb ?9.?;. Clw-gnkldb kluntrgbsunmbrpbralrd clwbr-dgmmcb-gnkldb kluntrgbs okrlss nborcy bvbry gnmgko-tlr, octfluif tfb pottbrns alr tfb twl irlups la kluntrgbs orb hrlomcysgdgcor (agiurb ?9.?=).

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krgsgs prbporbmnbss onm mbht donoibdbnt =87

Zrglrgty orbos alr rbalrd orb orbos gn wfgkf abwbr tfon ?: kluntrgbs dbtdgngdud rbqugrbdbnts (tohcb ?9.8). [bb onnbx agiurb ?9O.? alr o mbtogcbm

hrboemlwn la prglrgty orbos.9 ]fby gnkcumb tfb alcclwgni orbos0

• Dbmgud-tbrd mbht donoibdbnt strotbigbs• Zbralrdonkb oumgts la mbht donoibdbnt oktgvgtgbs, prlkbssbs, onm

lpbrotglns• Zrlkbmurbs alr onocyzgni onm mlkudbntgni bxtbrnoc hlrrlwgni• Kosf donoibdbnt proktgkbs• Omdgngstrotgln, rbklrm ebbpgni, onm rbplrtgni la mbht moto• Lpbrotglnoc rgse donoibdbnt.

Orbos gn wfgkf foca la tfb kluntrgbs dbt tfb dgngdud rbqugrbdbnts unmbrtfb MbDZO arodbwlre rbcotb tl tfb cbioc arodbwlre, donoibrgoc struk-turb, kllrmgnotgln wgtf agskoc onm dlnbtory plcgky, onm plcgkgbs onm prl-kbmurbs alr mldbstgk hlrrlwgni.

;:

8:

?:

:

cbioc arodbwlre

donoibrgoc strukturb

mbht donoibdbnt strotbiy

bvocuotgln la mbht

donoibdbnt lpbrotglns

oumgt

kllrmgnotgln wgtf agskoc

plcgky

kllrmgnotgln wgtf dlnbtory

plcgky

mldbstgk hlrrlwgnibxtbrnoc hlrrlwgni

clon iuorontbbs, ln cbnmgni

mbrgvotgvbs

kosf aclw alrbkostgni onm

kosf hoconkb donoibdbnt

mbht omdgngstrotgln onm

moto sbkurgty

sbirbiotgln la mutgbs, stoaa

kopokgty, onm husgnbss

klntgnugty pconngni

mbht rbklrms

mbht rbplrtgni

occ kluntrgbs (;=)

prglrgty orbo (orbos gn wfgkf abwbr tfon ?: kluntrgbs dbbt dgngdud rbqugrbdbnts)2: pbrkbnt la kluntrgbs

Agiurb ?9.?; Nudhbr la Kluntrgbs Dbbtgni Dgngdud MbhtDonoibdbnt Xbqugrbdbnts

[lurkb0 Outflrs‗ kockucotglns, hosbm ln oiirbiotbm Mbht DonoibdbntZbralrdonkb Ossbssdbnt rbsucts.

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=;:  wbgst, tlil, prosom, onm l‗hlycb

]fb plsgtgvb rbsucts kon hb bxpcognbm hy tfb aokt tfot sbvbroc kluntrgbsossbssbm murgni tfgs rlunm la tfb MbDZO wbrb arld rbiglnoc dlnbtoryunglns, wfbrb kbntroc hones usuoccy donoibm mldbstgk mbht. ]fbsb kbntrochones wbrb wbcc vbrsbm gn tfb Hone alr Gntbrnotglnoc [bttcbdbnts prlkb-murbs onm lutrbokf oktgvgtgbs ln sukf gssubs, wfgkf bxpcognbm tfb fgifbr

sklrbs ln dlnbtory plcgky gnmgkotlrs onm prlkbmurbs alr mldbstgk hlrrlw-gni. [klrbs ln tfb agskoc plcgky gntbroktglns orb bxpcognbm hy tfb aokt tfotsbvbroc kluntrgbs wbrb plst‛FGZK Gngtgotgvb onm Zlvbrty Xbmuktgln onmIrlwtf Aokgcgty (ZXIA) kluntrgbs, wgtf baabktgvb dbmgud-tbrd agskoc onmbxpbnmgturb arodbwlres gn pcokb.

Baabktgvb kllrmgnotgln wgtf dokrlbklnldgk plcgkgbs wos kldprldgsbmhy tfb aokt tfot tfb plcgkgbs onm prlkbmurbs alr bxtbrnoc hlrrlwgnis wbrbcokegni gn sbvbroc rbspbkts. [klrbs wgtfgn tfgs gnmgkotlr rbacbkt o clw mbirbbla ossbssdbnt la tfb dlst hbnbagkgoc/klst-baabktgvb hlrrlwgni tbrds onm

klnmgtglns onm o ibnbroc ohsbnkb la mlkudbntbm prlkbmurbs alr hlrrlw-gni gn alrbgin dorebts. ]fbsb agnmgnis orb portgkucorcy wlrrgsldb hbkousbo nudhbr la tfb kluntrgbs gn tfb sodpcb fovb bxprbssbm gntbrbst gn gssugnign gntbrnotglnoc kopgtoc dorebts lnkb tfb agnonkgoc turhucbnkb sbttcbs. Dlstkluntrgbs fovb baabktgvb cbioc arodbwlres tfot unmbrpgn hlrrlwgni, hut

cbioc arodbwlre

donoibrgoc strukturb

mbht donoibdbnt strotbiy

bvocuotgln la mbht

donoibdbnt lpbrotglns

oumgt

kllrmgnotgln wgtf agskoc

plcgky

kllrmgnotgln wgtf

dlnbtory plcgky

mldbstgk hlrrlwgnibxtbrnoc hlrrlwgni

clon iuorontbbs, ln

cbnmgni mbrgvotgvbs

kosf aclw alrbkostgni onm

kosf hoconkb donoibdbnt

mbht omdgngstrotgln onm

moto sbkurgty

sbirbiotgln la mutgbs, stoaa

kopokgty, onm husgnbss

klntgnugty pconngni

mbht rbklrms

mbht rbplrtgni

clw gnkldb clwbr dgmmcb gnkldb

:%

;:%

?:%

2:%

9:%

7:%

Agiurb ?9.?= Zbrkbntoib la Kluntrgbs Dbbtgni DgngdudXbqugrbdbnts, hy Gnkldb Irlup

[lurkb0 Outflrs‗ kockucotglns, hosbm ln oiirbiotbm Mbht DonoibdbntZbralrdonkb Ossbssdbnt rbsucts.

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=   ;  ?  

]ohcb ?9.8 Zrglrgty Orbos alr Gdprlvbdbnt

Orbod

Mbht donoibdbnt strotbiy

_uocgty la mbht donoibdbnt strotbiy mlkudbnts

Mbkgsgln-doegni prlkbss, upmotgni, onm puhcgkotgln la mbht donoibdbnt strotbiy

Oumgt 

Arbqubnky la gntbrnoc onm bxtbrnoc oumgt ln mbht donoibdbnt oktgvgtgbs, plcgkgbs, onmlpbrotglns, os wbcc os puhcgkotgln la bxtbrnoc oumgt

Mbirbb la klddgtdbnt tl ommrbss lutkldbs la gntbrnoc onm bxtbrnoc oumgts

Bxtbrnoc hlrrlwgni 

Ossbssdbnt la dlst hbnbagkgoc/klst-baabktgvb hlrrlwgni tbrds onm klnmgtglns

Ovogcohgcgty onm quocgty la mlkudbntbm prlkbmurbs alr hlrrlwgni gn alrbgin dorebts

Ovogcohgcgty onm mbirbb la gnvlcvbdbnt la cbioc omvgsbrs

Kosf aclw alrbkostgni onm kosf hoconkb donoibdbnt 

Baabktgvbnbss la alrbkostgni oiirbiotb cbvbc la kosf hoconkbs gn ilvbrndbnt hone okklunt

Baabktgvbnbss la donoigni oiirbiotb cbvbc la kosf hoconkbs gn ilvbrndbnt hone okklunt,gnkcumgni gntbirotgln wgtf mldbstgk hlrrlwgni prlirod

Yfbrb mbht donoibdbnt bntgty lpbrotbs gts lwn hone okklunts, arbqubnky la rbklnkgcgotglnla tfbsb hone okklunts

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=   ;  8  

Mbht omdgngstrotgln onm moto sbkurgty

Ovogcohgcgty onm quocgty la mlkudbntbm prlkbmurbs alr prlkbssgni la mbht sbrvgkb

Ovogcohgcgty onm quocgty la mlkudbntbm prlkbmurbs alr mbht moto rbklrmgni onm vocgmotgln,os wbcc os stlrgni la oirbbdbnts onm mbht omdgngstrotgln

Ovogcohgcgty onm quocgty la mlkudbntbm prlkbmurbs alr klntrlccgni okkbss tl kbntroc

ilvbrndbnt mbht rbklrmgni, donoibdbnt systbd, onm poydbnt systbd

Arbqubnky onm laa-sgtb sbkurb stlroib la mbht rbklrmgni onm donoibdbnt systbd hokeups

[birbiotgln la mutgbs, stoaa kopokgty, onm husgnbss klntgnugty

[birbiotgln la mutgbs alr sldb eby aunktglns, os wbcc os prbsbnkb la o rgse-dlngtlrgni onmkldpcgonkb aunktgln

[toaa kopokgty onm fudon rbslurkb donoibdbnt

Zrbsbnkb la lpbrotglnoc rgse donoibdbnt pcon, gnkcumgni klntgnugty onm mgsostbr rbklvbryorronibdbnts

[lurkb0 Outflrs‗ kockucotglns, hosbm ln oiirbiotbm MbDZO rbsucts.

]ohcb ?9.8 (klntgnubm)

Orbod

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krgsgs prbporbmnbss onm mbht donoibdbnt =;;

okkluntohgcgty onm tronsporbnky orb cokegni, os rbiucor pbralrdonkb oumgtsfovb nlt hbbn unmbrtoebn.

O surprgsgni orbo la mbagkgbnky gs mbht rbklrms onm rbplrtgni0 mbspgtb

sbvbroc ybors la tbkfngkoc ossgstonkb onm tfb ovogcohgcgty la laa-tfb-sfbcaslatworb, cbss tfon foca la tfb kluntrgbs dbt tfb rbqugrbm krgtbrgo. Onbk-mltoc bvgmbnkb suiibsts tfot clss la eby trognbm stoaa, coke la tronsabrla segccs odlni stoaa, onm coke la mlkudbntbm prlkbmurbs orb tfb dognrboslns alr pllr pbralrdonkb. Gn sbvbroc kluntrgbs, puhcgk sbktlr plcgkgbsdonmotb rltotgln la stoaa. Hbttbr gnkbntgvbs hy tfb prgvotb sbktlr alr segccbmmbht donoibrs curb owoy eby pbrslnnbc. Hltf aoktlrs rbsuct gn clss la ebysegcc sbts, rbsuctgni gn scgppoibs tfot rbqugrb stortgni occ lvbr oiogn. ]fgsprlhcbd gs kldplunmbm hy aunmodbntoc wboenbssbs gnfbrbnt gn dlst mbht

laagkbs, sukf os tfb coke la prlkbmurb donuocs onm mlkudbntbm wlre prl-kbssbs tfot wlucm dgtgiotb iops wfbn eby stoaa orb tronsabrrbm lr cbovb.

Kosf donoibdbnt gs rumgdbntory okrlss tfb ossbssbm kluntrgbs. Dlstkluntrgbs fovb o corib nudhbr la hone okklunts, ot tgdbs mrgvbn hy mlnlrgnsgstbnkb. Gn dony kluntrgbs, gnalrdotgln ln tfb oiirbiotb cbvbc la kosfhoconkbs gs nlt ovogcohcb lr dlngtlrbm, onm kosf gs nbgtfbr gnvbstbm nlrgntbirotbm wgtfgn tfb mldbstgk mbht hlrrlwgni prlirod. Gn sldb klun-trgbs, octfluif sbvbroc ilvbrndbnt okklunts wbrb acusf wgtf cgqugmgty,tfb ilvbrndbnt stgcc hlrrlwbm, gnkurrgni gntbrbst klsts wfgcb borngni nlrbturns ln surpcusbs. ]fb MbDZO agnmgnis rbvboc o coke la onocytgkockopokgty tl alrbkost kosf aclws onm donoib kosf hoconkbs okrlss sbvbrockluntrgbs, oclni wgtf tfb coke la sgnicb trbosury okklunts tfot klucmbnohcb slvbrbgins tl hbttbr donoib klsts.

Lpbrotglnoc rgse donoibdbnt proktgkbs wbrb bgtfbr ohsbnt lr gnombquotbokrlss kluntrgbs.6 Lncy lnb-quortbr la kluntrgbs dbt tfb dgngdud rbqugrb-dbnts alr mbht omdgngstrotgln onm moto sbkurgty, onm lncy 1 pbrkbnt mbdln-strotbm baabktgvb proktgkb alr ospbkts rbcotgni tl sbirbiotgln la mutgbs, stoaakopokgty, onm husgnbss klntgnugty. ]fb slvbrbgin mbht plrtalcgl gs usuoccytfb coribst gn tfb kluntry5 dgtgiotgni tfb rgse la aroum, fudon brrlr, onm

dorebt rgse gs krgtgkoc igvbn tfb fgif vocub la tfb tronsoktglns gnvlcvbmonm tfb pltbntgoc klnsbqubnkbs la suhstontgoc agnonkgoc clss os wbcc os tfbsbvbrb rbputotglnoc onm plcgtgkoc rgses osslkgotbm wgtf lpbrotglnoc brrlr lraogcurb. Mbagkgbnkgbs ln tfgs arlnt orb kldplunmbm hy tfb coke la okkurotbonm sbkurb mbht rbklrms onm tronsporbnt onm rbiucor rbplrtgni.

]fb rbsucts suiibst tfb nbbm alr gnkrbosbm tbkfngkoc ossgstonkb onmstrbnitfbngni gn tfbsb orbos, klupcbm wgtf tfb prlkbmurbs onm gnstgtutglnocorronibdbnts nbkbssory tl dogntogn o aunktglngni mbht donoibdbnt prl-irod. Omdgngstrotgln, mlkudbntotgln, onm dlngtlrgni onm bvocuotgln

ocsl nbbm tl gdprlvb.

]fb Dbmgud-]brd Mbht Donoibdbnt [trotbiy

]oegni o dlrb strotbigk opprlokf tl bvocuotgni agnonkgni kflgkbs rbqugrbsirbotbr gntbirotgln la tfb alrducotgln la mbht donoibdbnt strotbiy onm

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=;=  wbgst, tlil, prosom, onm l‗hlycb

hrlombr dokrlbklnldgk donoibdbnt. Os gts nodb suiibsts, tfb Dbmgud-]brd Mbht Donoibdbnt [trotbiy (D]M[) prlvgmbs o arodbwlre alr alr-ducotgni onm gdpcbdbntgni o mbht donoibdbnt strotbiy lvbr tfb dbmgud

tbrd, typgkoccy o tfrbb- tl agvb-ybor flrgzln.7 Gt alkusbs prgdorgcy ln mbtbr-dgngni tfb opprlprgotb kldplsgtgln la tfb mbht plrtalcgl. ]fb D]M[ gsusbauc alr gccustrotgni tfb tromb-laas hbtwbbn klst onm rgse osslkgotbm wgtfmgaabrbnt mbht donoibdbnt strotbigbs onm alr donoigni tfb rgse bxplsurbbdhbmmbm gn o mbht plrtalcgl, gn portgkucor tfb pltbntgoc vorgotgln gn mbht-sbrvgkgni klsts hbkousb la bxlibnlus mbvbclpdbnts onm tfbgr humibtorygdpokt.

]fb agrst stbp gn mbvbclpgni on D]M[ gs tl ortgkucotb tfb kluntry‗smbht donoibdbnt lh`bktgvbs onm sklpb.?: Gmboccy, mbht donoibdbnt lh`bk-

tgvbs orb stotbm gn tbrds la dbbtgni tfb ilvbrndbnt‗s agnonkgni nbbms gnokklrmonkb wgtf gts klst onm rgse prbabrbnkbs. Bxtbnmgni tfb doturgtyprlagcb la tfb mldbstgk plrtalcgl onm mbvbclpgni tfb mldbstgk mbht dorebtorb klddln sbklnmory lh`bktgvbs lvbr tfb dbmgud tbrd. Dlst la tfbsodpcb kluntrgbs coke kcorgty gn tfbgr lh`bktgvbs alr donoigni tfbgr mbht.Yfbn bxodgngni octbrnotgvb strotbiy lptglns, tfb mbht donoibr nbbms tlenlw wfbtfbr tfb ilvbrndbnt gs wgccgni tl ossudb fgifbr klsts tl rbmukbrgse lr okfgbvb ltfbr ilocs, sukf os mbvbclpgni tfb mldbstgk mbht dorebt.

Gn dlst kluntrgbs gn tfb sodpcb, ilvbrndbnts alcclw on gnalrdoc mbhtdonoibdbnt strotbiy tfot gs nbgtfbr bxpcgkgtcy opprlvbm hy tfb dgngstbr laagnonkb nlr hosbm ln on onocysgs la klst onm rgse. Alr clw-gnkldb klun-trgbs, tfgs gnalrdoc strotbiy fos sluift tl doxgdgzb klnkbssglnoc hlrrlw-gni. Ln tfb mldbstgk arlnt, tfb strotbiy fos hbbn tl rbmukb rbagnonkgnirgse, os tfb sforb la sflrt-tbrd mbht gn tltoc mldbstgk mbht fos hbbn fgifgn dony kluntrgbs. ]fbsb gnalrdoc strotbigbs fovb typgkoccy hbbn mbvbclpbmfburgstgkoccy, wfgkf gs gdplrtont bvbn wfbn mbrgvgni o strotbiy hosbm lnquontgtotgvb onocysgs.

Os o rbacbktgln la tfb bxgstgni mbht donoibdbnt strotbiy, tfb mbht plrt-alcgl gn dlst la tfb sodpcb kluntrgbs wos mldgnotbm hy laagkgoc sbktlr

klnkbssglnoc agnonkgni. Flwbvbr, tfb prlplrtgln la bxtbrnoc tl mldbstgkmbht onm tfb rbcotgvb mbptf onm hrbomtf la tfb mldbstgk dorebts vorgbmwgmbcy (tohcb ?9.;). Kluntrgbs tfot rbkbgvbm FGZK Gngtgotgvb, DMXG, onmltfbr bxtbrnoc mbht rbcgba bxpbrgbnkbm on gnstontonblus tronsalrdotgln latfb plrtalcgl kldplsgtgln tlworm o irbotbr sforb la mldbstgk mbht (agiurb?9.?2). Os o rbsuct, alrbgin bxkfonib bxplsurb wos rbmukbm mrodotgkoccy,octfluif gn dlst kluntrgbs wfbrb on D]M[ fom hbbn omlptbm, tfb sforbla bxtbrnoc mbht gn tfb tltoc plrtalcgl stgcc bxkbbmbm 2: pbrkbnt.

Os tfb sforb la mldbstgk mbht fos irlwn, rbagnonkgni rgses fovb hbkldb

dlrb okutb. ]fb klntrost hbtwbbn tfb ovbroib tgdb tl doturgty la mldbstgkonm bxtbrnoc mbht gn occ kluntrgbs gs store. Ilgni alrworm, tfb bxtbnt tlwfgkf tfb mldbstgk mbht dorebt mbvbclpdbnt oibnmo gs omvonkbm wgcc mbtbr-dgnb tfb pokb ot wfgkf tfb mldbstgk sforb la tltoc mbht kon hb gnkrbosbm.]fb sforb la vorgohcb rotb mbht gn tfb tltoc mbht plrtalcgl tbnms tl hb clw gn

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krgsgs prbporbmnbss onm mbht donoibdbnt =;2

]ohcb ?9.; Eby Xgse Gnmgkotlrs la Bxgstgni Mbht Zlrtalcgl gn [gx[odpcb Kluntrgbs(pbrkbnt, bxkbpt wfbrb ltfbrwgsb gnmgkotbm)

Gtbd O H K M B A  

Lutstonmgni mbht tl IMZ rotgl =6 9? 8; ;; =; ?8

Bxkfonib rotb rgse

[forb la mldbstgk mbht gn tltocmbht =1 =8 ;1 87 2? 26

Xbagnonkgni rgse

Ovbroib tgdb tl doturgty

mldbstgk mbht (ybors) ?.1 ;.7 ?.: 2.; =.; 8.9Ovbroib tgdb tl doturgty

bxtbrnoc mbht (ybors) ?1.8 ?2.6 ?8.2 8:.1 ??.2 ?:.7

[forb la tltoc mldbstgk mbhtdoturgni gn nbxt ?8 dlntfs ;6 8? 2= ?8 ;7 ;;

Gntbrbst rotb rgse

[forb la agxbm-rotb mbht gn tltocmbht 72 77 97 ?:: ?:: 76

Ovbroib tgdb tl doturgty tltocmbht (ybors) 6.1 ?:.7 6.= ?=.9 9.9 2.7

[forb la tltoc mbht tfot wgcc rbagxgntbrbst rotb gn nbxt ?8 dlntfs ;7 ?? 21 7 82 8=

[lurkb0 Outflrs‗ kockucotglns, hosbm ln sodpcb la kluntrgbs usgni tfb Dbmgud-]brdMbht Donoibdbnt [trotbiy.

clw-gnkldb kluntrgbs, plgntgni tl dgngdoc gntbrbst rotb bxplsurb. Onocysgsla tfb mbht plrtalcgl fgifcgifts tfb nbbm tl rbmukb bxkfonib rotb rgse gn tfb

bxtbrnoc mbht plrtalcgl onm rbagnonkb bxplsurb gn tfb mldbstgk plrtalcgl.]fb D]M[ gs alrworm cllegni. Gt gs usbauc alr bvocuotgni tfb klst onm rgse

klnsbqubnkb la nbw hlrrlwgni, portgkucorcy gn tfb klntbxt la tfb kfonigniagnonkgoc conmskopb aokgni clw-gnkldb kluntry ilvbrndbnts tlmoy. Ygtftfb ropgm gnkrbosb gn hlrrlwgni rbqugrbdbnts gn tfb oatbrdotf la tfb iclhockrgsgs onm tfb nbbm tl agnonkb skocbm-up mbvbclpdbnt bxpbnmgturbs tl prl-dltb mbsgrbm irlwtf, tfb nbbm tl hrlombn onm mgvbrsgay slurkbs la agnonkgnifos hbkldb vbry gdplrtont. Gn dlst la tfb sodpcb kluntrgbs, klnkbssglnochlrrlwgni fos hbbn doxgdgzbm. ]fb qubstgln gs flw tl agnonkb ommgtglnoc

nbbms tfot konnlt hb dbt tfrluif klnkbssglnoc clons. Gn sldb kluntrgbs,nlntromgtglnoc hgcotbroc cbnmbrs orb bdbrigni os gdplrtont slurkbs laagnonkb, tfluif tfbgr tbrds vory sgingagkontcy arld kluntry tl kluntry.Kluntrgbs ot tfb uppbr bnm la tfb clw-gnkldb kluntry spbktrud orb bxpclr-gni tfb plssghgcgty la hbkldgni Gntbrnotglnoc Hone alr Xbklnstruktgln onm

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=;1  wbgst, tlil, prosom, onm l‗hlycb

Mbvbclpdbnt (GHXM) hcbnm kluntrgbs.?? Gn ocdlst occ la tfb sodpcb D]M[kluntrgbs, gntbrnotglnoc gssuonkb la hlnms gs hbgni mgskussbm.

Kluntrgbs fovb mbbpbnbm onm hrlombnbm tfbgr mldbstgk mbht dorebtstl mgaabrbnt mbirbbs. Gn sldb kluntrgbs, tfb kclsbm kopgtoc okklunt fosdbont tfot alrbgin gnvbstlrs onm alrbgin hones fovb nlt hbbn kldpbtgnign tfb mldbstgk agnonkgoc systbd. O kclsbm kopgtoc okklunt fos occlwbm ilv-brndbnts tl top mldbstgk sovgnis tfot wbrb koptgvb wgtfgn tfbgr hlrmbrs otclw lr nbiotgvb rboc gntbrbst rotbs. Gt doy ebbp dorebts sfocclw, flwbvbr,onm gt tbnms tl cgdgt ohslrptgvb kopokgty alr auturb gnkrbosbs gn mldbstgkmbht gssuonkb.

Yfbrb pbnsgln rbalrds fovb nlt mboct wgtf unmbraunmbm mbagnbm-hbnbagt skfbdbs alr puhcgk onm prgvotb bdpclybbs, mldbstgk ohslrptgvbkopokgty la clni-tbrd mbht gs cgdgtbm onm rbprbsbnts o sgingagkont kln-tgnibnt cgohgcgty alr tfb ilvbrndbnt. Ltfbr kluntrgbs wgtf lpbn kopgtocokklunts fovb hbbn oiirbssgvbcy klurtgni alrbgin gnvbstlrs. Zbnsgln onmkopgtoc dorebt rbalrds fovb fbcpbm mbbpbn tfb mldbstgk mbht dorebt,klntrghutgni tl tfb irlwtf la tfb mldbstgk gnvbstlr hosb.

Kluntrgbs gn tfb sodpcb fovb hbbn oaabktbm hy tfb rbkbnt agnonkgoc krgsgstfrluif tfb rboc sbktlr0 tfb sclwmlwn gn mbvbclpbm-kluntrgbs‗ bklnldgbs

fos cbm tl o mrodotgk rbmuktgln gn bxplrt vlcudbs onm prgkbs, os wbcc os oaocc gn tlurgst rbkbgpts onm rbdgttonkbs. Octfluif gdplrt prgkbs fovb ocslmbkcgnbm, tfb mbkcgnb fos nlt hbbn bnluif tl kldpbnsotb alr tfb rbmuktglngn bxplrts, onm bxtbrnoc gdhoconkbs orb bxpbktbm tl klntgnub tl mbtbrgl-rotb gn tfb nbor tbrd.

;:

  p  b  r  k  b  n   t

82

8:

?2

?:

2

:

  ?  7  7  ?

  ?  7  7  ;

  ?  7  7   2

  ?  7  7   9

  ?  7  7  7

  8  :  :  ?

  8  :  :  ;

  8  :  :   2

Agiurb ?9.?2 Mldbstgk Mbht os o Zbrkbntoib la ]ltoc ZuhcgkMbht gn Fbovgcy Gnmbhtbm Zllr Kluntrgbs, ?77?‛8::2

[lurkb0 Zongzzo 8::6.Nltb0 [odpcb gnkcumbs moto alr 8? kluntrgbs.

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krgsgs prbporbmnbss onm mbht donoibdbnt =;9 

]fb rbslurkbs tl agnonkb tfb kurrbnt okklunt mbagkgt fovb hbbn kur-togcbm os prgvotb kopgtoc gnaclws fovb sclwbm, puttgni prbssurb ln tfbbxkfonib rotb, rbmukgni gntbrnotglnoc rbsbrvbs, onm mbkrbosgni tfb gdplrt

klvbr rotgl. ]fb agskoc plsgtgln fos ocsl wboebnbm, hbkousb tfb krgsgs fosrbmukbm ilvbrndbnt rbvbnub klccbktgln onm prgvotgzotgln rbkbgpts onmbxpbnmgturb fos gnkrbosbm tl kluntbrhoconkb tfb baabkts la tfb rbkbssgln.Gn sldb kluntrgbs, sgingagkont unkbrtognty bxgsts rbiormgni tfb pltbntgocbxtbnt la klntgnibnt cgohgcgtgbs, portgkucorcy gn tfb alrd la iuorontbbs tlporostotocs, wfgkf klnstgtutb on gdplrtont port la puhcgk mbht. Mlnlrgnaclws wgcc ocsl cgebcy mbkcgnb os o rbsuct la tfb wlrsbngni agskoc plsgtglnla hgcotbroc portnbrs.

]fb sodpcb kluntrgbs vory gn tfbgr ohgcgty tl slatbn tfb baabkts la tfb

krgsgs. [ldb la tfb klddlmgtgbs-bxplrtgni kluntrgbs gdpcbdbntbm klun-tbrkykcgkoc agskoc plcgky5 hbkousb tfby fom okkuducotbm rbsbrvbs, tfby wbrbwbcc pcokbm tl kusfgln tfb gdpokt la tfb krgsgs. Ltfbr kluntrgbs fom kopgtocklntrlc plcgkgbs gn pcokb, wfgkf gnsucotbm tfbd arld tfb summbn stlp lakopgtoc gnaclws onm rusf gn lutaclws.

Dony kluntrgbs ocsl bxpbrgbnkbm suppcy sflkes, os fbomcgnb gnacotgln gslatbn mldgnotbm hy allm onm aubc prgkbs. [ldb dgx la nldgnoc agxbm-rotbmbht onm gnacotgln-gnmbxbm mbht wgcc fbcp dgtgiotb tfb baabkts la unkbrtogntyla tfbsb bvbnts. Arld tfb pbrspbktgvb la tfb D]M[, tfb onocysgs suiibsts ohgos tlworm hlrrlwgni gn mldbstgk kurrbnky tl dgtgiotb alrbgin bxkfonibbxplsurb igvbn bxtbrnoc vucnbrohgcgtgbs onm clw rbsbrvb cbvbcs. Okfgbvgniclw onm stohcb gnacotgln wgcc hb bssbntgoc tl tfb sukkbss la mldbstgk kopgtocdorebt mbvbclpdbnt.

]wl klst-rgse dbosurbs orb typgkoccy ossbssbm gn tfb D]M[ onocysgs0tfb gntbrbst poydbnts tl IMZ rotgl onm tfb nldgnoc mbht tl IMZ rotgl.Klnacgktgni rbsucts klucm bdbrib arld usgni tfb mgaabrbnt dbosurbs. ]fbklst onm rgse dbosurb la tfb gntbrbst poydbnts tl IMZ rotgl fgifcgiftstfb vucnbrohgcgty la tfb humibt tl vorgotglns gn gntbrbst poydbnt prl`bk-tglns. Gn tfb sodpcb la clw-gnkldb kluntrgbs, wgtflut bxkbptgln tfb

gntbrbst klst la o strotbiy tfot doxgdgzbs klnkbssglnoc hlrrlwgni mldg-notbs ltfbr strotbigbs, wgtf tfb clw klst rbacbktgni fgifcy klnkbssglnocgntbrbst rotbs onm tfb clw rgse rbacbktgni tfb scgift vorgotglns arld tfbhosbcgnb os o rbsuct la tfb clw ohslcutb cbvbc la gntbrbst poydbnt.?8 [trot-bigbs tfot pursub coribr sforbs la mldbstgk mbht wgcc fovb fgifbr klstsonm rgses okklrmgni tl tfgs dbosurb. ]fb fgifbr rgse la tfb mldbstgkmbht gs bxpcognbm hy tfb aokt tfot fgifbr-klst mldbstgk agnonkgni rbpcokbsclwbr-klst bxtbrnoc agnonkgni, wfgkf cboms tl fgifbr ohslcutb klst onmrgse cbvbcs.?; 

Klst onm rgse dbosurbm gn tbrds la tfb mbht tl IMZ rotgl mgspcoy oronib la rbsucts okrlss tfb sodpcb kluntrgbs. ]fgs dbosurb ossbssbs tfbvucnbrohgcgty gn tbrds la mbht sustognohgcgty krbotbm hy tfb potf toebnhy octbrnotgvb mbht donoibdbnt strotbigbs. Gn kluntrgbs gn wfgkf tfbmldbstgk mbht dorebt wos sbvbrbcy klnstrognbm onm klddonmbm o fgif

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=;6  wbgst, tlil, prosom, onm l‗hlycb

prbdgud, bxtbrnoc klnkbssglnoc hlrrlwgni klntgnubm tl lutpbralrdmldbstgk hlrrlwgni gn tbrds la klst onm rgse. Octfluif tfb gntbrbst rotbsosslkgotbm wgtf bxtbrnoc hlrrlwgni typgkoccy fovb clwbr klupln rotbs

tfon tflsb ln mldbstgk hlrrlwgni, gn kosbs gn wfgkf gntbrbst rotbs gn tfbmldbstgk mbht dorebt wbrb dlrb dlmbrotb onm ossudptglns prl`bktbmon gdplrtont hosbcgnb bxkfonib rotb mbprbkgotgln, tfb rbsucts sflwbmo tromb-laa hbtwbbn o strotbiy tfot fom o fgifbr sforb la mldbstgk mbht(wgtf fgifbr klst onm clwbr rgse) onm o strotbiy tfot fom o fgifbr sforb labxtbrnoc mbht (wgtf clwbr klst onm fgifbr rgse). Gn sukf kosbs, tfb gntbrbstpoydbnts ln tfb mbprbkgotbm (tfot gs, fgifbr mldbstgk kurrbnky bqugvo-cbnt) prgnkgpoc vocub kon hb fgifbr tfon tfb gntbrbst poydbnts ln mldbstgkmbht, rbnmbrgni mldbstgk mbht kfbopbr tfon bxtbrnoc mbht. [gdgcorcy, rgse

doy hb fgifbr alr bxtbrnoc mbht ga tfb mbvgotgln gn gntbrbst klst ln tfbmbprbkgotbm prgnkgpoc gs irbotbr tfon tfb mbvgotgln ln tfb mldbstgk gntbr-bst klst os o rbsuct la gntbrbst rotb sflkes lr o mbprbkgotgln sflke. Ygtflutbxkbptgln, bxkfonib rotb sflkes mldgnotbm tfb rgse lutkldb (rbcotgvb tlgntbrbst rotb sflkes) alr tfb mbht tl IMZ dbosurb, os tfgs sflke oaabktsnlt lncy gntbrbst klst hut ocsl prgnkgpoc vocuotgln.

Gn ommgtgln, tfb rbsucts la tfb D]M[ orb fgifcy kluntry spbkgagkonm mbpbnm ln tfb kforoktbrgstgks la tfb bxgstgni mbht plrtalcgl, tfbossudptglns ohlut hosbcgnb auturb bxkfonib onm gntbrbst rotb prl`bktglns,onm tfb sflke skbnorgls onm dokrlbklnldgk prl`bktglns tfot mrgvb tfbprgkgni ossudptglns. Alr tfgs rbosln, dlngtlrgni ltfbr rgse gnmgkotlrs gskrukgoc. Alr bxodpcb, gt gs mgaagkuct tl iouib tfb gdpcgkotglns la rbagnonk-gni rgse arld tfb klst onm rgse onocysgs. Kclsbcy bxodgngni onm kldpor-gni tfb prgnkgpoc rbpoydbnt skfbmucb ot tfb bnm la tfb tgdb flrgzln alrmgaabrbnt mbht donoibdbnt strotbigbs, os wbcc os kldporgni tfb ovbroibtgdb tl doturgty onm tfb pbrkbntoib la mbht doturgni gn o portgkucor ybor,doy gmbntgay on unkldalrtohcb cbvbc la rbagnonkgni rgse tfot doy fovbrbsuctbm arld o strotbiy tfot oppborbm tl hb ottroktgvb arld o klst-rgsepbrspbktgvb.

]fb dogn rgse tl mbht sustognohgcgty orgsgni arld mbht kldplsgtglnmbrgvbs arld bxkfonib rotb rgse. Flwbvbr, igvbn tfb rbcotgvbcy sflrtdoturgtgbs la mldbstgk mbht kldporbm wgtf bxtbrnoc mbht, tfbrb gs o nbbmalr on oiirbssgvb mldbstgk gssuonkb strotbiy `ust tl dogntogn tfb kurrbntmldbstgk tl bxtbrnoc kurrbnky dgx gn tfb plrtalcgl. Ga tfgs mbht gs occlwbmtl doturb okklrmgni tl gts prgnkgpoc rbpoydbnt skfbmucb, oatbr tfrbb yborsbxtbrnoc mbht wgcc fovb horbcy doturbm, wgtf `ust ?‛?6 pbrkbnt la tfblrgignoc mbht rbokfgni doturgty (tohcb ?9.=). Gn klntrost, mldbstgk mbhtwgcc fovb doturbm suhstontgoccy, wgtf =:‛?:: pbrkbnt la tfb lrgignoc

mbht fovgni doturbm oatbr tfrbb ybors. La tfb tltoc lrgignoc mbht, 1;‛62pbrkbnt wgcc stgcc hb lutstonmgni. ]libtfbr wgtf gnmgkotlrs sukf os ovbr-oib tgdb tl doturgty, tfgs dbosurb gnmgkotbs tfb cbnitf la tgdb gt toebstl tronsalrd tfb bxgstgni mbht plrtalcgl. ]fb aokt tfot gt toebs clnibr tl

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krgsgs prbporbmnbss onm mbht donoibdbnt =;7

tronsalrd o plrtalcgl kon hb omvontoiblus, os gt dbons tfot tfb plrtal-cgl gs suh`bkt tl clwbr rbagnonkgni rgse. Ga, flwbvbr, tfb bxgstgni mbht gsrgsey”alr bxodpcb, ga gt gs fbovgcy alrbgin kurrbnky mbnldgnotbm”tfbkluntry wgcc fovb tl cgvb wgtf tfgs rgse alr on bxtbnmbm pbrglm. Gn tfbohsbnkb la swops, kfonigni tfb mbht kldplsgtgln kon hb okfgbvbm lncydorignoccy lvbr tgdb, os bxgstgni mbht doturbs onm nbw mbht gs klntroktbmtl agnonkb tfb humibt mbagkgt.

Gn on bnvgrlndbnt la gnkrbosgni mbagkgts onm gnarostrukturb gnvbstdbntnbbms tfot wgcc rogsb tfb nbw agnonkgni rbqugrbdbnt, tfb gdpcgkotgln la tfgsonocysgs gs tfot mbht strukturbs kon qugkecy bvlcvb. Rncbss o prumbnt mbhtdonoibdbnt strotbiy gs gn pcokb, tfb puhcgk mbht plrtalcgl kon qugkecyhbkldb rgsegbr. Os kluntrgbs gnkrbosgnicy bvocuotb nlnklnkbssglnoc slurkbsla agnonkgni, gnkcumgni tfb lptgln la gssuonkb gn tfb gntbrnotglnoc kopgtocdorebt, ossbssgni tfb rgse klnsbqubnkb la sukf hlrrlwgni ln tfb lvbroccplrtalcgl hbkldbs gnkrbosgnicy okutb.

Nlnklnkbssglnoc Hlrrlwgni 

Dony clw-gnkldb kluntrgbs sbbe tl rbmukb mlnlr mbpbnmbnkb hbkousbmlnlr agnonkgni kon hb vlcotgcb onm unprbmgktohcb, tfb usb la aunms gslatbn tgbm tl spbkgagk prl`bkt-rbcotbm bxpbnmgturbs, onm mlgni husgnbsswgtf ductgcotbroc gnstgtutglns kon gnvlcvb fgif tronsoktgln klsts. Hutdlvgni tl tfb gntbrnotglnoc kopgtoc dorebts omms tl agnonkgni vlcotgcgtywfgcb rogsgni klsts. ]urngni tl sukf nlnklnkbssglnoc slurkbs ocsl aogcstl ommrbss bxkfonib rotb onm rbagnonkgni rgses onm gs suh`bkt tl gntbr-notglnoc krbmgt kykcbs. Dlvgni tl mldbstgk agnonkgni fos dbrgt gn tfot

gt bcgdgnotbs bxkfonib rotb rgse, hut mlgni sl kon omm tl rbagnonkgnirgse onm gnkrbosb gntbrbst klst. Alr sldb sdocc clw-gnkldb bklnldgbs,tfbrb doy nlt hb tfb gnvbstlr hosb tl supplrt o vgohcb ilvbrndbnt hlnmdorebt.

]ohcb ?9.= Zbrkbntoib la Mldbstgk onm Bxtbrnoc MbhtLutstonmgni oatbr ]frbb Wbors gn [bcbktbm D]M[ Kluntrgbs

Kluntry Mldbstgk mbht Bxtbrnoc mbht  O ;7 77

H 2= 7?

K : 68

M 27 71

B == 6=

[lurkb0 Outflrs‗ kockucotglns.Nltb0 D]M[ 4 Dbmgud-]brd Mbht Donoibdbnt [trotbiy.

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==:  wbgst, tlil, prosom, onm l‗hlycb

Igvbn tfb corib slkgoc onm gnarostrukturb nbbms gn dony kluntrgbs, ommg-tglnoc gnaclws kon hb o wbckldb mbvbclpdbnt, portgkucorcy wfbrb mldbstgkrbslurkbs orb gnsuaagkgbnt. Okkbss tl nbw slurkbs la agnonkgni kon ocsl

gdprlvb tfb sklpb alr oktgvbcy donoigni rgse gn tfb puhcgk mbht plrtalcgl,hy laabrgni irbotbr sklpb tl kfonib tfb kurrbnky bxplsurb la tfb plrtalcgltl togclr gt tl tfb kluntry‗s bxplrt rbvbnub strbods, alr bxodpcb. Flw-bvbr, tfb mgvbrsgagkotgln la agnonkgni slurkbs gs cgebcy tl hb okfgbvbm ot tfbbxpbnsb la fgifbr mbht-sbrvgkgni klsts onm pltbntgoccy fgifbr rbagnonkgnionm gntbrbst rotb rgses. Irbotbr alrbgin gnvbstlr gntbrbst ocsl gnkrbosbs tfbsklpb alr mldbstgk mbht tl pcoy o dlrb oktgvb rlcb gn tfb plrtalcgl, hbkousbgnkrbosbm ovogcohgcgty la rbslurkbs gn mldbstgk kurrbnky kon aokgcgtotb tfbbxtbnsgln la tfb tbnlr la mldbstgk mbht.

]fb donoibdbnt la nlnklnkbssglnoc mbht plsbs nbw kfoccbnibs onmklucm gnkrbosb tfb rgse tfot clw-gnkldb kluntrgbs wgcc okkuducotb unsus-tognohcb mbht hurmbns, flwbvbr. ]fb hugcmup la nlnklnkbssglnoc bxtbrnocmbht kon pcokb o fbovy mbht-sbrvgkgni hurmbn ln clw-gnkldb kluntrgbs.Ga mbht donoibdbnt ungts coke tfb kopokgty tl unmbrtoeb o krbmghcb alr-worm-cllegni mbht sustognohgcgty onocysgs, hlrrlwgni strotbigbs doy nlthb ocginbm wgtf clni-tbrd sbrvgkgni kopokgty, onm gdprumbnt hlrrlwgnidoy rbsuct.

Bvbn o dlmbst odlunt la nlnklnkbssglnoc hlrrlwgni kon sgi-ngagkontcy gnkrbosb mbht-sbrvgkgni klsts. Mbspgtb tfb rbcotgvbcy dlmbstodlunt la nlnklnkbssglnoc mbht stlke gn 8::9 (tfb cotbst ybor alr wfgkfmoto orb ovogcohcb), mbht sbrvgkb ln nlnklnkbssglnoc mbht gn sbvbroc klun-trgbs rbprbsbntbm o corib plrtgln la tltoc mbht sbrvgkb (agiurb ?9.?1). GnBtfglpgo, Ifono, Dyondor, Rzhbegston, onm Pgdhohwb, alr bxodpcb,nlnklnkbssglnoc mbht sbrvgkb domb up tfb do`lrgty la tltoc mbht sbrvgkb.]fb ovogcohgcgty la nlnklnkbssglnoc agnonkgni fos gnkrbosbm tfb uribnkytl hugcm kopokgty tl mbvbclp onm gdpcbdbnt krbmghcb mbht donoibdbntstrotbigbs, sl tfot ilvbrndbnts kon doeb gnalrdbm hlrrlwgni mbkgsglns tldonoib tfbgr mbht plrtalcgls.

Klnkcumgni Xbdores

[lunm mbht donoibdbnt proktgkbs pcoy o krgtgkoc rlcb gn prbvbntgni onmdgtgiotgni agnonkgoc krgsbs gn hltf clw- onm dgmmcb-gnkldb kluntrgbs. ]fbkfoccbnibs orb portgkucorcy irbot gn clw-gnkldb kluntrgbs, wfgkf coke bkl-nldgk mgvbrsgagkotgln, mbbp agnonkgoc dorebts, onm suaagkgbnt bnmlwdbntsla gnstgtutglnoc onm fudon kopgtoc wgtf wfgkf tl prbporb alr onm rbsplnm

tl krgsbs.]fb agrst stbp gn ommrbssgni mbht donoibdbnt pbralrdonkb gs tlossbss tfb strbnitfs onm wboenbssbs gn o kluntry‗s kurrbnt arodbwlre.]fb MbDZO wos mbsginbm tl gmbntgay tfbsb wboenbssbs onm prlvgmb

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krgsgs prbporbmnbss onm mbht donoibdbnt ==?

hbnkfdores alr rbalrd. Zrbcgdgnory ossbssdbnt la gts rbsucts sflws tfotmbvbclpgni kluntrgbs nbbm tl strbnitfbn krukgoc orbos la mbht donoib-dbnt, portgkucorcy tfb kopokgty tl ossbss klst-rgse tromb-laas gn tfbgr puh-cgk mbht plrtalcgls. ]fb D]M[ gs on gdplrtont tllc alr ommrbssgni tfgsgssub. On baabktgvb D]M[ gccustrotbs tfb klst-rgse tromb-laas la o vorgbty

la strotbigbs wgtfgn o kluntry‗s mbht donoibdbnt arodbwlre. Xbmukgnitfbsb klsts onm rgses, wfgcb prlvgmgni acbxghgcgty tl okfgbvb clni-tbrdlh`bktgvbs, wgcc cbom tl strlnibr puhcgk hoconkb sfbbts onm gnkrbosbmrbsgcgbnkb oiognst auturb sflkes.

Igvbn tfb unkbrtognty la tfb kurrbnt bnvgrlndbnt onm tfb bvlcutglnla mbht cbvbcs onm gntbrbst rotbs wlrcmwgmb, gt rbdogns tl hb sbbn wfbtfbrvucnbrohcb clw-gnkldb kluntrgbs wgcc hb ohcb tl baabktgvbcy donoib tfbgrmbht. Octfluif tfgs unkbrtognty onm unkbrtognty surrlunmgni tfb lut-kldb la tfb agnonkgoc krgsgs rbdogn, lnb klnkrbtb cbssln tl hb mrown

arld rbkbnt bxpbrgbnkb gs tfot strbnitfbngni mbht donoibdbnt kopokgtygn mbvbclpgni kluntrgbs, portgkucorcy clw-gnkldb kluntrgbs, wgcc hb ongnmgspbnsohcb tllc gn prbvbntgni onm dgtgiotgni krgsgs baabkts nlw onm gntfb auturb.

?::

6:

1:

  p  b  r  k  b  n   t  o  i  b  l   a   t  l   t  o   c

=:

8:

:

  K  l  n  i 

  l ,    M  b

  d .    X  b  p   l  a

   B   t   f   g  l

  p   g  o  I   f

  o  n  o

   D  y  o  n  d  o  r

   R  i   o  n  m  o

   R  z   h  b   e   g  s

   t  o  n

   Q   g  b   t  n  o  d

   P   g  d   h  o

   h  w  b

pbrkbntoib la nlnklnkbssglnoc mbht lutstonmgni

pbrkbntoib la nlnklnkbssglnoc mbht sbrvgkb

Agiurb ?9.?1 Nlnklnkbssglnoc Mbht onm Mbht [brvgkb gn[bcbktbm Kluntrgbs, 8::9

[lurkb0 Ylrcm Hone 8:?:o.

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==8  wbgst, tlil, prosom, onm l‗hlycb

?::

6:

1:

=:

8:

:

?::

6:

1:

=:

8:

:

?::

6:

1:

=:

8:

:

quocgty la mbht donoibdbnt

strotbiy mlkudbnts

mbkgsgln-doegni prlkbss,

upmotgni, onm puhcgkotgln

la mbht donoibdbnt

strotbiy

arbqubnky la gntbrnoc onm

bxtbrnoc oumgt ln mbht

donoibdbnt oktgvgtgbs, plcgkgbs,

onm lpbrotglns, os wbcc

os puhcgkotgln la bxtbrnoc oumgt

ossbssdbnt la dlst

hbnbagkgoc/klst-

baabktgvb hlrrlwgni

tbrds onm klnmgtglns

ovogcohgcgty onm

quocgty la

mlkudbntbm

prlkbmurbs alr

hlrrlwgni gn

alrbgin dorebt

ovogcohgcgty onm

mbirbb la

gnvlcvbdbnt la

cbioc omvgsbrs

mbirbb la klddgtdbnt tl

ommrbssgni lutkldbs arld

gntbrnoc onm bxtbrnoc oumgts

K lr fgifbr M nl rotgni

o. Mbht donoibdbnt strotbiy

h. Oumgt

k. Bxtbrnoc hlrrlwgni

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

Agiurb ?9O.? Zrlhcbd Orbos Gmbntgagbm hy tfb MbhtDonoibdbnt Zbralrdonkb Ossbssdbnt(pbrkbntoib la kluntrgbs)

Onnbx

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krgsgs prbporbmnbss onm mbht donoibdbnt ==;

sbirbiotgln la

mutgbs alr sldb eby

aunktglns5 prbsbnkb

la o rgse dlngtlrgni

onm kldpcgonkb

aunktgln

stoaa kopokgty

onm fudon

rbslurkb

donoibdbnt

prbsbnkb la

lpbrotglnoc rgse

donoibdbnt pcon,

gnkcumgni klntgnugty

onm mgsostbr

rbklvbry orronibdbnts

?::

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baabktgvbnbss la

alrbkostgni

oiirbiotb cbvbc la kosf

hoconkbs gn ilvbrn-dbnt hone okklunt

baabktgvbnbss la donoigni

oiirbiotb cbvbc la kosf

hoconkbs gn ilvbrndbnt

hone okklunt, gnkcumgnigntbirotgln wgtf mldbstgk

mbht hlrrlwgni prlirod

wfbrb mbht donoibdbnt

bntgty lpbrotbs gts lwn

hone okklunts,

arbqubnky larbklnkgcgotgln la

tfbsb hone okklunts

?::

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ovogcohgcgty onm

quocgty la

mlkudbntbm

prlkbmurbs alr

prlkbssgni la

mbht sbrvgkb

ovogcohgcgty onm quocgty

la mlkudbntbm

prlkbmurbs alr

mbht moto rbklrmgni

onm vocgmotgln,

os wbcc os stlrgni

la oirbbdbnts onm

mbht omdgngstrotgln

ovogcohgcgty onm

quocgty la mlku-

dbntbm prlkbmurbs

alr klntrlccgni okkbss

tl kbntroc ilvbrn-

dbnt mbht rbklrm-

gni5 donoibdbnt

systbd onm

poydbnt systbd

arbqubnky onm

laa-sgtb, sbkurb

stlroib la mbht

rbklrmgni

donoibdbnt,

systbd

hoke-ups

?::

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1:

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8:

:

m. Kosf aclw alrbkostgni onm kosf hoconkb donoibdbnt

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

  p  b  r  k  b  n   t

b. Mbht omdgngstrotgln onm moto sbkurgty

a. [birbiotgln la mutgbs, stoaa kopokgty, onm husgnbss klntgnugty pconngni

K lr fgifbr M nl rotgni

Agiurb ?9O.? (klntgnubm)

[lurkb0 Outflrs‗ kockucotglns, hosbm ln oiirbiotbm Mbht DonoibdbntZbralrdonkb Ossbssdbnt rbsucts (sbb nltb 1).

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=  =  =   ]ohcb ?9O.? _uocgty la Mbht Donoibdbnt onm FGZK Bcgighgcgty

Qorgohcb G GG GGG GQ

Nbt prbsbnt vocub la mbht/IMZ :.8;*** :.?7*** :.86*** :.?8** :

8.21 8.62 8.1= 8.:7 8Gnkldb ‛:.86*** ‛:.8=*** ‛:.;:*** ‛:.88*** ‛:

2.9= 2.2? 2.9; 2.6: 2

KZGO mbht donoibdbnt ‛:.;8*** ‛:.82** ‛:8.12 8.2? 8

KZGO :.:=:.98

Irlwtf ?762‛72 ‛:.;6***8.67

Irlwtf gn vlcudb ?762‛72 ‛::

Nudhbr la lhsbrvotglns ?:8 ?:8 ?:: ?:8 ?

Zsbuml-X8 :.21 :.1: :.29 :.11 :

Yocm ;6.?8 ;1.;6 =:.86 ;1.2? ;1

Wbor ?772 ?772 ?772 ?772 ?7

[lurkb0 Outflrs‗ kockucotglns onm Ylrcm Hone 8::1.Nltb0 Dorignoc baabkts mA/mx rbplrtbm. Ohslcutb vocub la t -stotgstgks gn gtocgks. Mbpbnmbnt vorgohcb0 hgnor

alr FGZK rbcgba onm 4 : ga nlt (=6 bcgighcb kluntrgbs). Gnkldb gs tfb cli la rboc pbr kopgto gnkldb mbnldgnotbstonmorm brrlrs klrrbktgni alr fbtbrlsebmostgkgty. KZGO 4 Kluntry Zlcgky onm Gnstgtutglnoc Ossbssdbnt5 FGZK

* [gingagkont ot tfb ?:% cbvbc5 **[gingagkont ot tfb 2% cbvbc5 ***[gingagkont ot tfb ?% cbvbc.

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krgsgs prbporbmnbss onm mbht donoibdbnt ==2

Nltbs

  ?. Gn aokt, tfb rgsb gn mbht cbvbcs kldbs ungqubcy arld tfb mbvbclpbm kluntrgbsgn tfb I-8:, wflsb ibnbroc ilvbrndbnt mbht cbvbcs orb prbmgktbm tl rgsb arld 96.8pbrkbnt gn 8::9 tl ??6.= pbrkbnt gn 8:?=.

  8. ]fb MbDZO wos mbvbclpbm hy tfb Ylrcm Hone5 tfb D]M[ wos mbvbclpbm`lgntcy hy tfb Hone onm tfb GDA. Hltf tllcs wbrb mbvbclpbm tfrluif o hrlomklnsuctotgvb prlkbss tfot sluift suiibstglns onm gnputs arld kcgbnt kluntrgbs onmprlvgmbrs la gntbrnotglnoc tbkfngkoc ossgstonkb tfot orb oktgvb gn tfb agbcm.

  ;. O Ylrcm Hone stumy (8:?:) sflws tfot on ovbroib onnuoc mbkcgnb gn gntbr-bst sprboms la 82 hosgs plgnts klucm gnkrbosb clni-tbrd pltbntgoc lutput hy ?;pbrkbnt, gnkrbosgni pltbntgoc ovbroib onnuoc lutput irlwtf hy :.; pbrkbnt.

  =. MbDZO gnmgkotlrs orb sklrbm ln o skocb arld O tl M. O sklrb la K lr fgifbrgnmgkotbs tfot tfb dgngdud rbqugrbdbnts alr baabktgvb mbht donoibdbnt fovb hbbn

dbt5 o M gnmgkotbs tfot tfbsb rbqugrbdbnts fovb nlt hbbn dbt.  2. [bb Ylrcm Hone (8::7o) alr o kldpcbtb cgst la MbDZO gnmgkotlrs onm suh-

gnmgkotlrs. MbDZO dotbrgoc onm o cgst la kluntry gdpcbdbntotglns kon hb alunm otwww.wlrcmhone.lri/mbht.

  1. ]fb onocysgs gs hosbm ln tfb rbsucts la ;= ossbssdbnts klnmuktbm hbtwbbnNlvbdhbr 8::9 onm Mbkbdhbr 8::7.

  9. ]fgs gn nl woy gdpcgbs tfot ltfbr orbos orb cbss gdplrtont alr rbalrds,sgdpcy tfot abw kluntrgbs dbt dgngdud rbqugrbdbnts ot tfb tgdb la tfgs stumy.

  6. O aoktlr gn tfb kldporotgvb nbicbkt la tfgs orbo la puhcgk mbht donoibdbntgn clw-gnkldb kluntrgbs klucm wbcc hb tfot dlst hlrrlwbrs okkbss ductgcotbroc onmhgcotbroc slurkbs la agnonkb. Lpbrotglnoc rgse gs dgtgiotbm gn tfbsb kosbs, hbkousb

tfb cbnmgni gnstgtutglns fovb strlni agmukgory soabiuorms gn pcokb (octfluif tfgs gskcborcy nlt slunm proktgkb, os tfb hlrrlwbr sflucm hb ohcb tl gnmbpbnmbntcy vbrgayonm donoib tfb rgse). ]fgs klucm wbcc hb o rbosln alr tfb clw prglrgty hbstlwbm lntfgs krgtgkoc orbo gn sbvbroc clw-gnkldb kluntrgbs onm on bxpconotlry aoktlr alr tfbclw MbDZO sklrbs.

  7. ]fb D]M[ klnsgsts la o tllcegt tl ossgst ilvbrndbnts gn onocyzgni onm mbvbc-lpgni on D]M[, toegni gntl okklunt dokrlbklnldgk onm dorebt bnvgrlndbnts.

?:. Alr tfb arodbwlre alr mbvbclpgni on D]M[, sbb Ylrcm Hone onm GDA(8::7o). _uontgtotgvb onocysgs gs nlt nbkbssory tl put o illm D]M[ gn pcokb. Gakluntrgbs alcclwbm tfb Iugmonkb Nltb onm ossbss tfb vorglus klnsgmbrotglns tlmbrgvb konmgmotb strotbigbs, tfby kon mbvbclp on okkbptohcb sbt la strotbigbs alrklnsgmbrotgln hy plcgky doebrs. Bvbn ga sldb lutkldbs orb lhvglus, gt gs usbauctl bxpcgkgtcy quontgay tfb klst onm rgse klnsbqubnkbs la o portgkucor strotbiy tlunmbrstonm tfb lpplrtungty klst la omlptgni gnbaagkgbnt agnonkgni strotbigbs. Gt gsocsl usbauc tl bxpcgkgtcy quontgay tfb dorignoc klst la mbvbclpgni tfb mldbstgk mbhtdorebt, ga tfgs gs on bxpcgkgt lh`bktgvb.

 ??. [bb fttp0//moto.wlrcmhone.lri/ohlut/kluntry-kcossgagkotglns alr hlrrlwgnilptglns la GMO/GHXM Hcbnm stotus.

 ?8. Clons arld tfb Gntbrnotglnoc Mbvbclpdbnt Osslkgotgln (GMO) onm tfbOargkon Mbvbclpdbnt Hone fovb zbrl gntbrbst rotb rgse, os gntbrbst rotbs orb agxbm ot:.92 pbrkbnt, rbiormcbss la dorebt klnmgtglns. Gntbrbst rotb rgse orgsbs lncy arld tfbnlnklnkbssglnoc hlrrlwgni gnkurrbm oatbr kluntrgbs rbokf tfb cgdgt ln klnkbssglnocmbht.

 ?;. [uhstgtutgln la o 8 pbrkbnt bxtbrnoc clon kldgni mub hy o ?: pbrkbntmldbstgk clon wlucm rbsuct gn on gnkrbosb gn gntbrbst klst la 6 pbrkbnt. Mldbstgkmbht wlucm ocsl hb rgsegbr hbkousb la tfb fgifbr ohslcutb cbvbc la gntbrbst poydbntsonm tfb fgifbr gntbrbst rotb sflke oppcgbm tl tfb mldbstgk gntbrbst rotb rbcotgvb tl

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==1  wbgst, tlil, prosom, onm l‗hlycb

tfb alrbgin gntbrbst rotb (soy, o 8 pbrkbnt sflke alr o mldbstgk gntbrbst rotb onm o? pbrkbnt sflke alr tfb alrbgin gntbrbst rotb).

Xbabrbnkbs

Onmbrsln, Z., onm B. ]lil. 8::7. Ilvbrndbnt Mbht Donoibdbnt gn Clw-GnkldbKluntrgbs. Yosfgnitln, MK0 Ylrcm Hone.

Hroio, K. O. 8:?:. –]fb Irbot Xbkbssgln onm Gntbrnotglnoc Zlcgky Kllrmgnotgln.—Zopbr prbsbntbm ot tfb Xbsbrvb Hone la Gnmgo Klnabrbnkb, Dudhog, Abhruory?8‛?;, 8:?:.

Moni, F.-O., [. Enoke, onm F. Xlibrs. 8::7. –Gntbrnotglnoc Ogm onm Agnonkgoc

Krgsgs gn Mlnlr Kluntrgbs.— Zlcgky Xbskorkf Ylregni Zopbr 2?18, Ylrcm Hone,Yosfgnitln, MK.

GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::7. –]fb [totb la Zuhcgk Agnonkbs.— AgskocOaaogrs Mbportdbnt, Yosfgnitln, MK.

”””. 8:?:o. Agnonkgoc [tohgcgty Xbplrt . Yosfgnitln, MK0 Gntbrnotglnoc Dln-btory Aunm.

”””. 8:?:h. Ylrcm Bklnldgk Lutclle. Yosfgnitln, MK0 Gntbrnotglnoc Dln-btory Aunm.

 @ogdlvgkf, M., onm R. Zongzzo. 8::1. Zuhcgk Mbht orlunm tfb Ylrcm0 O Nbw Moto-sbt la Kbntroc Ilvbrndbnt Mbht . Gntbr-Odbrgkon Mbvbclpdbnt Hone, Yosf-gnitln, MK.

Erooy, O., onm Q. Nbfru. 8::1. –Yfbn Gs Bxtbrnoc Mbht [ustognohcb<— Ylrcm HoneBklnldgk Xbvgbw 8:(;)0 ;=?‛12.

Dbcbkey, D. 8::9. –O Krlss-Kluntry Onocysgs la Zuhcgk Mbht Donoibdbnt [trotb-igbs.— Zlcgky Xbsborkf Ylregni Zopbr =869, Ylrcm Hone, Yosfgnitln, MK.

Dlfopotro, [., onm M. Xotfo. 8:?:. Gdpokt la tfb Iclhoc Agnonkgoc Krgsgs lnDgirotgln onm Xbdgttonkbs. Yosfgnitln, MK0 Ylrcm Hone.

Zongzzo, R. 8::6. Mldbstgk onm Bxtbrnoc Zuhcgk Mbht gn Mbvbclpgni Kluntrgbs.Nbw Wlre0 Rngtbm Notglns Klnabrbnkb ln ]romb onm Mbvbclpdbnt.

Xbgnfort, K. D., onm X. Xlilaa. 8:?:. –Arld Agnonkgoc Krosf tl Mbht Krgsgs.—

NHBX Ylregni Zopbr ?2972, Notglnoc Hurbou la Bklnldgk Xbsborkf, Kod-hrgmib, DO.

Xbgnfort, K., E. Xlilaa, onm D. [ovostonl. 8::;. Mbht Gntlcbronkb. Kodhrgmib,DO0 Notglnoc Hurbou la Bklnldgk Xbsborkf.

[tonmorm & Zllr‗s. 8:?:. [lvbrbgin Xotgni onm Kluntry ]&K Ossbssdbnt Fgstl-rgbs. Nbw Wlre.

Ylrcm Hone. 8::1. –Zuhcgk Mbht Donoibdbnt gn Clw-Gnkldb Kluntrgbs.— Hoke-irlunm popbr alr `lgnt Ylrcm Hone/GDA rbplrt –[trbnitfbngni Mbht Donoib-dbnt Zroktgkbs0 Cbsslns arld Kluntry Bxpbrgbnkbs.— Bklnldgk Zlcgky onm MbhtMbportdbnt (ZXDBM), Ylrcm Hone, Yosfgnitln, MK.

”””. 8::7o. –Donoigni Zuhcgk Mbht0 Alrducotgni [trotbigbs onm [trbnitfbngniGnstgtutglnoc Kopokgty.— Ylrcm Hone, Yosfgnitln, MK.

”””. 8::7h. Iugmb tl tfb Mbht Donoibdbnt Zbralrdonkb Ossbssdbnt (MbDZO)]llc . Bklnldgk Zlcgky onm Mbht Mbportdbnt (ZXDBM), Yosfgnitln, MK.

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krgsgs prbporbmnbss onm mbht donoibdbnt ==9 

”””. 8::7k. Zrltbktgni Zrlirbss0 ]fb Kfoccbnib Aokgni Clw-Gnkldb Kluntrgbsgn tfb Iclhoc Xbkbssgln. Zlvbrty Xbmuktgln onm Bklnldgk Donoibdbnt Nbt-wlre (ZXDQZ), Yosfgnitln, MK.

”””. 8::7m. _uortbrcy Bxtbrnoc Mbht [totgstgks. Yosfgnitln, MK.”””. 8:?:o. Mbvbclpdbnt Moto Zcotalrd motohosb5 okkbssbm Oprgc 8:?:.

”””. 8:?:h. Iclhoc Bklnldgk Zrlspbkts. Yosfgnitln, MK0 Ylrcm Hone.

Ylrcm Hone onm GDA (Gntbrnotglnoc Dlnbtory Aunm). 8::;. Iugmbcgnbs alr ZuhcgkMbht Donoibdbnt . Yosfgnitln, MK0 Ylrcm Hone onm GDA.

”””. 8::1. [trbnitfbngni Mbht Donoibdbnt Zroktgkbs0 Cbsslns arld KluntryBxpbrgbnkbs. Yosfgnitln, MK.

”””. 8::7o. Mbvbclpgni o Dbmgud ]brd Mbht Donoibdbnt [trotbiy (D]M[)0Iugmonkb Nltb alr Kluntry Outflrgtgbs. Bklnldgk Zlcgky onm Mbht Mbport-dbnt (ZXDBM),Yosfgnitln, MK.

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==7

?6

Zuhcgk Mbht Donoibdbnt onm

[lvbrbgin Xgse murgni tfb YlrstAgnonkgoc Krgsgs ln Xbklrm0Bxpbrgbnkbs onm Cbsslns arld tfbLBKM Orbo

Fons @. Hclddbstbgn

 ]fgs kfoptbr rbvgbws tfb bxpbrgbnkbs la Lriongsotgln alr BklnldgkKl-lpbrotgln onm Mbvbclpdbnt (LBKM) kluntrgbs wgtf puhcgk mbhtdonoibdbnt murgni tfb wlrst agnonkgoc krgsgs ln rbklrm, tfb 8::9‛:7

iclhoc agnonkgoc krgsgs. Gt sflws tfot tfb unprbkbmbntbm iclhoc sflke krb-otbm clkoc honegni krgsbs hbalrb sbttgni tfb stoib alr o surib gn ilvbrndbnt

mbagkgts onm (klntgnibnt) cgohgcgtgbs. ]fb ropgm okkbcbrotgln gn slvbrbginhlrrlwgni nbbms wos hllstbm hy tfb agskoc rbsplnsb tl klnkbrns ohlut tfbplssghgcgty la o sbvbrb bklnldgk scudp. ]fb rbsuctgni gnkrbosb gn slvbrbginrgse krbotbm dorebt klnkbrns ohlut on gddgnbnt lr oktuoc clkoc slvbrbginmbht onm agnonkgoc krgsgs gn sldb LBKM kluntrgbs. ]fb dutotgln gntl onoktuoc slvbrbgin mbht krgsgs fos rbvgvbm klnkbrns ohlut rbnbwbm tfrbotstl tfb prgvotb agnonkgoc gntbrdbmgory systbd, gnkcumgni tfb gntbrhonegnidorebt.

]fb lrgign, sbvbrgty, onm iclhoc noturb la tfb agnonkgoc sflke onm gts

oatbrdotf domb tfb 8::9‛:7 krgsgs mgaabrbnt arld prbvglus krgsbs. [egccaucmbht donoibdbnt wgcc nbbm tl hb port la tfb lvbrocc dokrlbklnldgk bxgtstrotbiy gn lrmbr tl klntogn tfb okkbcbrotgln gn slvbrbgin rgse, dgtgiotbplssghcb klntoigln monibrs, onm bnsurb tfb lvbrocc klnsgstbnky la tfb dok-rlbklnldgk plcgky dgx. O krbmghcb bxgt strotbiy gs ocsl nbbmbm tl klntrlc

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=2:  hclddbstbgn

lvbrcy nbiotgvb dorebt sbntgdbnts onm unkbrtogntgbs surrlunmgni slvbr-bgin krbmgt rgse tfot klucm cbom oiogn tl mysaunktglnoc dorebts.

LBKM mbht donoibrs rbplrtbm o slatbngni la mbdonm ot sldb ouk-

tglns, cbomgni tl plstplnbm, aogcbm, lr konkbcbm ouktglns onm mgstlrtglnsgn prgdory dorebts. ]luifbr gssuonkb klnmgtglns os wbcc os klnmgtglnsla lvbrocc agnonkgoc gnstohgcgty (wfgkf oaabkt tfb aunktglngni la prgdorymbocbrs) orb tfb prgnkgpoc rboslns wfy bxgstgni gssuonkb prlkbmurbs, prg-dory mbocbr orronibdbnts, onm plrtalcgl donoibdbnt strotbigbs fovb nltocwoys wlrebm os baagkgbntcy os tfby mgm hbalrb tfb iclhoc agnonkgoc krgsgs.Hbkousb tfby mgm nlt, slvbrbgin gssubrs fom tl lpbrotb gn kgrkudstonkbstfot wbrb ot tgdbs unprbkbmbntbm.

[gins la sbrglus cgqugmgty prbssurbs wbrb ocsl prbsbnt gn sbklnmory dor-

ebts. O mgrbkt rbsplnsb tl tluifbr gssuonkb klnmgtglns hy mbht donoib-dbnt laagkbs (MDLs) gn tfb LBKM orbo gnkcumbm tfb gdpcbdbntotgln lakfonibs gn bxgstgni gssuonkb prlkbmurbs onm plcgkgbs. ]fgs typb la plcgkyrbsplnsb doy fovb cbm tl sldbwfot irbotbr mgvbrsgty la prgdory dorebtorronibdbnts onm plrtalcgl donoibdbnt prlkbmurbs (alr o mbtogcbm lvbr-vgbw, sbb Hclddbstbgn 8::7o).

]fb rbsplnsbs tl tfb agnonkgoc krgsgs”onm, cotbr, tfb bklnldgk krgsgs”rbsuctbm gn o ropgm gnkrbosb gn humibt mbagkgts onm slvbrbgin mbht. ]fbsbmbvbclpdbnts orb cgebcy tl oaabkt clnibr-tbrd gntbrbst rotbs, wgtf on omvbrsbgdpokt ln tfb rboc sbktlr (–krlwmgni lut—). ]fb gnkrbosb gn slvbrbgin rgse,upworm prbssurb ln gntbrbst rotbs, onm tfb rbsuctgni rgse la krlwmgni lut puttfb spltcgift ln tfb gdplrtonkb la tfb lvbrocc dokrlbklnldgk bxgt strotbiy.Lvbr tgdb o rbturn tl o prumbnt dbmgud-tbrd agskoc strotbiy gs on bssbntgocbcbdbnt la ony krbmghcb bxgt strotbiy tl hrgni mbht-sbrvgkb klsts, slvbrbginrgse, onm klntoigln prbssurbs unmbr klntrlc. O dlrb kldprbfbnsgvb hoconkbsfbbt mbagngtgln la slvbrbgin rgse gs uribntcy nbbmbm tl fbcp plcgky doebrshbttbr ossbss tfb lutclle alr slvbrbgin rgse. ]fbrb gs ocsl o nbbm alr kclsbr(mldbstgk onm gntbrnotglnoc) kllpbrotgln (gnkcumgni gnalrdotgln bxkfonib)hy mbht donoibrs, agskoc outflrgtgbs, onm dlnbtory plcgky doebrs.

]fgs kfoptbr gs lriongzbm os alcclws. ]fb nbxt sbktgln bxodgnbs tfblrgign onm gdpokt la tfb iclhoc agnonkgoc sflke onm gts oatbrdotf. ]fb alc-clwgni sbktgln onocyzbs tfb plcgky kfoccbnibs onm rbsplnsbs tl tfb krgsgs,gnkcumgni bxgt kfoccbnibs onm kfonibs gn hlrrlwgni strotbigbs gn LBKMkluntrgbs. ]fb cost sbktgln prlvgmbs sldb klnkcumgni rbdores.

Gdpokt la tfb Iclhoc Agnonkgoc Krgsgs

]fb lrgign, sklpb, sbvbrgty, onm iclhoc noturb la tfb agnonkgoc sflke onmgts oatbrdotf domb tfb 8::9‛:7 krgsgs mgaabrbnt arld prbvglus krgsbs. ]fgsunprbkbmbntbm iclhoc sflke krbotbm clkoc honegni krgsbs hbalrb sbttgni tfbstoib alr o surib gn ilvbrndbnt mbagkgts onm (klntgnibnt) cgohgcgtgbs. ]fbropgm okkbcbrotgln gn slvbrbgin hlrrlwgni nbbms wos hllstbm hy puhcgk

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =2?

supplrt alr tfb agnonkgoc sbktlr onm tfb agskoc rbsplnsb tl klnkbrns ohluttfb plssghgcgty la o mbprbssgln-cgeb bklnldgk scudp.

Gnkrbosb gn [flrt-]brd Ilvbrndbnt Gssuonkb

Ot tfb pboe la tfb agnonkgoc krgsgs”alcclwgni tfb klccopsb la CbfdonHrltfbrs ln [bptbdhbr ?2, 8::6”dorebts gn prgvotb agnonkgoc popbrarlzb. ]fb prgvotb agnonkgoc gntbrdbmgory systbd ocdlst kldpcbtbcy klc-copsbm murgni tfb pongk la 8::6 (Yorsf 8:?:). Dbosurbm hy tfb mbirbb laklccopsb la sflrt-tbrd agnonkgoc dorebts, tfb 8::6 iclhoc agnonkgoc krgsgs gstfb dlst sbvbrb krgsgs ln rbklrm. Os Ocon Irbbnspon (8:?:, p. ?6) nltbs,–Bvoplrotgln la tfb iclhoc suppcy la sflrt-tbrd krbmgts wgtfgn flurs lr

moys la tfb Cbfdon aogcurb gs . . . wgtflut fgstlrgkoc prbkbmbnt.—]fgs nbor-klccopsb la tfb agnonkgoc gntbrdbmgotgln systbd trgiibrbm

unprbkbmbntbm puhcgk supplrt lpbrotglns. Cgqugmgty supplrt hy kbntrochones (latbn gn kllpbrotgln wgtf MDLs) rbpcokbm lr sflrbm up sflrt-tbrd prgvotb dorebts, onm kopgtoc gn`bktglns hy trbosurgbs gn tfb alrd lakosf (sukf os tfb ]rluhcbm Ossbt Xbcgba Zrlirod U]OXZT) ommbm hgccglns tlhone bqugty. [bvbroc MDLs gn tfb LBKM fom tl rogsb aunms ln vbry sflrtnltgkb alr kopgtoc gn`bktglns lr rbkopgtocgzotgln lpbrotglns la notglnocgzbmgnslcvbnt hones. ]fbsb gn`bktglns la puhcgk aunms rbprbsbntbm o sginoctfot LBKM ilvbrndbnts wbrb stonmgni hbfgnm tfb cgohgcgtgbs la tfb bntgrbhonegni systbd, krbotgni dossgvb gdpcgkgt klntgnibnt ilvbrndbnt cgohgcg-tgbs. Ilvbrndbnts ocsl gntrlmukbm iuorontbbs alr hlnms gssubm hy prgvotbhones, krbotgni bxpcgkgt klntgnibnt ilvbrndbnt cgohgcgtgbs.

Gn sud, agnonkgoc supplrt lpbrotglns klntrghutbm strlnicy tl tfb suribgn gssuonkb hy LBKM ilvbrndbnts la hltf klnvbntglnoc onm klntgnibntcgohgcgtgbs. ]fbsb lpbrotglns hy mbht donoibrs onm ltfbr agnonkgoc laag-kgocs wbrb gnstrudbntoc gn tronsalrdgni honegni krgsbs onm arlzbn dorebtprlhcbds gntl gnkrbosbs gn slvbrbgin rgse. Gn tfb ohsbnkb la o krbmghcbdbmgud-tbrd agskoc bxgt strotbiy, sukf o plcgky doy fovb sbt tfb stoib alr

nbw hluts la agnonkgoc dorebt turhucbnkb, tfgs tgdb trgiibrbm hy o slvbr-bgin mbht krgsgs.

]fb bxpclsgln gn tfb suppcy la puhcgk mbht foppbnbm ot o tgdb wfbnbvbn slvbrbgin gssubrs wbrb bxpbrgbnkgni cgqugmgty prlhcbds gn tfbgr sbk-lnmory dorebts. Dlrblvbr, gn sbvbroc dorebts gntbrhone tromgni (ocdlst)mgsoppborbm, oaabktgni tfb dorebt-doegni kopohgcgtgbs la prgdory mbocbrsonm tronsalrdgni qultb-mrgvbn dorebts gntl lrmbr-mrgvbn lnbs (on bxod-pcb gnkcumbs tfb Funiorgon dorebt). Gn ommgtgln, sbvbroc ilvbrndbnts fomtl aokb gnkrbosbm kldpbtgtgln nlt lncy arld ltfbr slvbrbgins hut ocsl arld

hone hlnms iuorontbbm hy tfbgr lwn ilvbrndbnt.Mbspgtb tfbsb cgqugmgty prlhcbds onm unkbrtognty ohlut kluntbrportyrgse, bvbn ot tfb pboe la tfb krgsgs, gn 8::6, prgdory dorebts alr ilvbrn-dbnt popbr klntgnubm tl aunktgln rboslnohcy wbcc, bvbn gn kluntrgbs aokgnido`lr clkoc honegni krgsbs. Flwbvbr, gn kluntrgbs wgtf bxtrbdb dorebt

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=28  hclddbstbgn

turdlgc, alr sldb tgdb lpbrotglns wbrb rbstrgktbm tl ]rbosury Hgcc gssuonkb,onm ]rbosury Hlnm ouktglns wbrb suspbnmbm. Gn ocdlst occ LBKM dorebts,tfb gssuonkb la sflrt-tbrd mbht gnkrbosbm sgingagkontcy (agiurb ?6.?). Os on

ommgtglnoc rbsplnsb tl tfb krgsgs, dony LBKM prgdory dorebts gntrlmukbmkfonibs gn gssuonkb prlkbmurbs onm tbkfngqubs.

Fgifbr Humibt Mbagkgts

Hlrrlwgni nbbms fovb gnkrbosbm ropgmcy gn rbsplnsb tl tfb slorgni klstsla agnonkgoc supplrt skfbdbs, ltfbr krgsgs-rbcotbm bxpbnmgturbs, onm rbkbs-sgln-gnmukbm mbkcgnbs gn tox rbvbnubs onm gnkrbosbs gn ilvbrndbnt bxpbn-mgturbs. Os o rbsuct, gn 8:?: dony LBKM ilvbrndbnts wbrb bxpbktgni

sgingagkont gnkrbosbs gn humibt mbagkgts.Odgmst o fgifcy unkbrtogn bklnldgk lutclle wgtf gnkrbosgni hum-

ibt mbagkgts (agiurb ?6.8), irlss hlrrlwgni nbbms la LBKM ilvbrndbntsgnkrbosbm bxpclsgvbcy0 hy 8:?: tfby wbrb bstgdotbm tl fovb rbokfbm ocdlst$?1 trgccgln gn 8::7, up arld on borcgbr bstgdotb la ohlut $?8 trgccgln.Zrl`bktglns alr 8:?: sflw hlrrlwgni stohgcgzgni ot ohlut $?1 trgccgln(Hclddbstbgn onm Ile 8::7).

Dony LBKM ilvbrndbnts aokbm o sgingagkont gnkrbosb gn bxpbktbmmbagkgts gn 8:?: hbkousb la tfb agskoc aocclut la o rbkbssgln tfot wos wlrsbtfon agrst ontgkgpotbm onm tfb agnonkgoc klnsbqubnkbs la rbslcvgni honegnikrgsbs. Gn 8:?: tfb LBKM orbowgmb agskoc mbagkgt gs prl`bktbm tl pboe oto plstwor fgif la ohlut 6.82 pbrkbnt la IMZ (LBKM 8::7o). Mbcbiotbs

Agiurb ?6.? [flrt-]brd Mbht Gssuonkb hy LBKMIlvbrndbnts, 8::9‛?:

[lurkb0 [urvbys hy tfb LBKM Ylregni Zorty ln Mbht Donoibdbnt, LBKMstoaa bstgdotbs.

Nltb0 Agiurbs alr 8::7 orb bstgdotbs. Agiurbs alr 8:?: orb prl`bktglns.

:

8

=

1

6

?:

?8

8::9 8::6 8::7 8:?:

   h   g   c   c   g  l  n  s  l   a   R   [   $

sflrt-tbrd hlrrlwgni

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =2;

arld tfb LBKM Ylregni Zorty ln Zuhcgk Mbht Donoibdbnt klnagrdbmtfot dony MDLs gn tfb LBKM orbo (os wbcc os lutsgmb gt) orb klnarlntgnimrodotgkoccy gnkrbosbm hlrrlwgni nbbms.?

Os o rbsuct, slvbrbgin gssubrs occ lvbr tfb wlrcm orb aokgni gnkrbosbmkldpbtgtgln gn rogsgni aunms arld dorebts, cbomgni tl fgifbr bxpbktbmhlrrlwgni klsts. O clldgni ommgtglnoc kfoccbnib gs tfb rgse tfot wfbn

tfb rbklvbry iogns troktgln, kldpbtgtgln alr sovgnis wgcc gnkrbosb. Ga tfgslkkurs, ygbcms wgcc rgsb (agiurb ?6.;).

[ystbdgk Dorebt Ohslrptgln Zrlhcbds onm Gnkrbosgni–Krlwmgni Lut—

Gssuonkb klnmgtglns fovb wlrsbnbm gn sldb dorebts. ]l motb, flwbvbr,cbss sukkbssauc ouktglns kon hbst hb gntbrprbtbm os –sgnicb dorebt bvbnts—rotfbr tfon unodhgiulus bvgmbnkb la systbdgk dorebt ohslrptgln prlh-

cbds (Hclddbstbgn 8::7h). ]fb auturb trbnm klucm hb dlrb kfoccbnigni alrtfb bxbkutgln la hlrrlwgni prlirods, flwbvbr, igvbn tfot rgsgni gssuonkbgs lkkurrgni fonm gn fonm wgtf gnkrbosgni lvbrocc mbht cbvbcs (agiurb ?6.=).

Agskoc plcgky, ilvbrndbnt hlrrlwgni prlirods, onm tfb rbsuctgnifgifbr puhcgk mbht orb ocsl cgebcy tl oaabkt clnibr-tbrd gntbrbst rotbs. ]fbsb

262?,?7:

8,;98   8,=11

=96

?,827

8,621   8,7=1

:

2::

?,:::

?,2::

8,:::

8,2::

;,:::

   h   g   c   c   g  l  n  s  l   a   R   [   $

;,2::

8::9 8::6 8::7 8:?:

I-9 kluntrgbs   LBKM kluntrgbs

Agiurb ?6.8 Agskoc Mbagkgts gn Irlup la [bvbn Kluntrgbs onmtfb LBKM, 8::9‛?:

[lurkb0 LBKM 8::7o.

Nltb0 Agiurbs alr 8::7 orb bstgdotbs. Agiurbs alr 8:?: orb prl`bktglns.

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=2=  hclddbstbgn

agnonkgoc dorebt mbvbclpdbnts orb prl`bktbm tl fovb on omvbrsb gdpokt lntfb rboc sbktlr hy krlwmgni lut prgvotb mbdonm onm prlmuktgln tfrluiffgifbr (bxpbktbm) hlrrlwgni klsts.8 Os la Doy 8:?:, tfgs krlwmgni-lutbaabkt rbdognbm dutbm0 tfb sovgnis rotbs la flusbflcms onm kldpongbswbrb rbcotgvbcy fgif gn dlst LBKM kluntrgbs. Lvbr tgdb, flwbvbr, wfbntfb rbklvbry iogns aurtfbr strbnitf, tfgs sgtuotgln gs cgebcy tl kfonib.

Coribr Ilvbrndbnt Mbht onm Gntbrbst Zoydbnts

]fb ropgm onm dossgvb surib gn ilvbrndbnt gssuonkb kon hb bxpbktbmtl pusf tfb prgkbs la slvbrbgin mbht mlwn onm ygbcms (aurtfbr) up. ]fbgssuonkb kfoccbnibs alr dony MDLs orb kldplunmbm hy gnkrbosgni mbhtcbvbcs”o trbnm ocrbomy vgsghcb hbalrb tfb krgsgs.

Mbht cbvbcs gn tfb Rngtbm [totbs, tfb Burl Orbo, onm @opon fovb rgsbnsforpcy sgnkb tfb pboe la tfb krgsgs gn 8::6 (sbb agiurb ?6.=). ]ltoc LBKM

orbo kbntroc ilvbrndbnt mbht gs prl`bktbm tl rbokf ocdlst $;8 trgccgln ottfb bnm la 8:?: (LBKM stoaa bstgdotbs). ]fb surib gn slvbrbgin hlrrlwgninbbms doy mrgvb up rboc clnibr-tbrd gntbrbst rotbs (agiurb ?6.2).

Bdpgrgkoc bstgdotbs la tfb gdpokt la fgifbr mbht ln gntbrbst rotbs mgaabrklnsgmbrohcy. [tumgbs rbplrt bstgdotbs la on gnkrbosb la (nldgnoc) puhcgk

:

‛82

‛2:

2:

92

82

?::

?82

?2:

   m   g   a   a  b  r  b  n

  k  b   h  b   t  w  b  b  n   c  l  n  i  -   t  b  r  d   o

  n   m

  s   f  l  r   t  -   t  b  r  d   r

  o   t  b  s   (   h  o  s   g  s  p  l   g  n   t  s   )

:‛?7 8:‛;7 =:‛27 1:‛97

irlss ilvbrndbnt mbht os pbrkbntoib la IMZ

6: onm ohlvb

Agiurb ?6.; [prbom hbtwbbn Clni-]brd onm [flrt-]brdGntbrbst Xotbs vbrsus Irlss Ilvbrndbnt Mbht

[lurkb0 LBKM 8::7o.Nltb0 Agiurbs rbprbsbnt ovbroib okrlss occ LBKM kluntrgbs alr wfgkf

moto wbrb ovogcohcb lvbr tfb pbrglm ?77=‛8::6. [flrt-tbrd gntbrbst rotbs orbtypgkoccy rotbs ln ;-dlntf ]rbosury Hgccs5 clni-tbrd gntbrbst rotbs orb rotbs ln?:-ybor ilvbrndbnt hlnms.

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =22

mbht la ? pbrkbnt la IMZ ln fgifbr (nldgnoc lr rboc) clni-tbrd gntbrbstrotbs ronigni arld cbss tfon ? tl ;8 hosgs plgnts. ]fbrb gs ocsl bvgmbnkb la onlncgnbor rbcotglnsfgp hbtwbbn mbht onm gntbrbst rotbs. ]fb strlni gnkrbosbgn lutstonmgni mbht onm fgifbr clni-tbrd gntbrbst rotbs gn LBKM kluntrgbsocsl gdpcy fgifbr gntbrbst bxpbnmgturbs (agiurb ?6.1).

Xbsplnmgni tl tfb Iclhoc Krgsgs

LBKM mbht donoibrs rbplrtbm o slatbngni la mbdonm ot sldb ouktglns. Gnocdlst occ dorebts, tfb gssuonkb la sflrt-tbrd mbht gnkrbosbm sgingagkontcy.Os on ommgtglnoc rbsplnsb tl tfb krgsgs, onm tl tfb tluifbr gssuonkb klnmg-tglns tfot rbsuctbm arld tfb krgsgs, MDLs gntrlmukbm kfonibs gn gssuonkbprlkbmurbs onm tbkfngqubs gn prgdory dorebts.

Bxgt Kfoccbnibs

]luifbr gssuonkb klnmgtglns onm tfb rgse la krlwmgni lut put tfb splt-cgift ln tfb gdplrtonkb la o prlpbr agskoc onm dlnbtory bxgt strotbiy

:

2

?:

?2

8:

827.?1

6.61

7.8:

;:

   t  r   g   c   c   g  l  n  s

  l   a   R   [   $

   t  r   g   c   c   g  l  n  s

  l   a   R   [   $

@oponBurl Orbo Rngtbm [totbs

  ?   7   7   6

   8   :   :   :

   8   :   :  ?

   8   :   :   8

   8   :   :   ;

   8   :   :  =

   8   :   :   2

   8   :   :   1

   8   :   :   9

   8   :   :   6

   8   :   :   7

   8   :  ?   :

  ?   7   7   7

Agiurb ?6.= Dorebtohcb Kbntroc Ilvbrndbnt Mbht gn[bcbktbm LBKM Kluntrgbs, ?776‛8:?:

[lurkbs0 Moto alr ?776‛8::6 orb arld LBKM 8::7h. Moto alr 8::7 onm8:?: orb arld tfb LBKM Ylregni Zorty ln Zuhcgk Mbht Donoibdbnt onmLBKM stoaa bstgdotbs.

Nltb0 Agiurbs alr 8::7 orb bstgdotbs. Agiurbs alr 8:?: orb prl`bktglns. ]fb

8::6 agiurbs alr @opon orb ocsl bstgdotbs.

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=21  hclddbstbgn

onm hbttbr klddungkotgln kfonnbcs hbtwbbn MDLs onm tfb dlnbtoryonm agskoc outflrgtgbs. [lvbrbgin mbht donoibrs, wgtf tfb supplrt la slunmagskoc klnslcgmotgln plcgkgbs, nbbm tl prbporb onm gdpcbdbnt tgdbcy onmkrbmghcb dbmgud-tbrd bxgt strotbigbs (Hclddbstbgn 8::7h). Octfluifsegccauc om`ustdbnts la tfb mbht donoibdbnt strotbiy, mgskussbm hbclw,klucm pltbntgoccy rbmukb ilvbrndbnt hlrrlwgni klsts, slunm puhcgk mbhtdonoibdbnt gs nlt o pbrabkt suhstgtutb alr slunm agskoc plcgky. Lvbr tgdb orbturn tl o prumbnt dbmgud-tbrd agskoc strotbiy gs on bssbntgoc bcbdbnt la

ony krbmghcb bxgt strotbiy tl hrgni mbht sbrvgkb klsts unmbr klntrlc.]fb slvbrbgin rgse lutclle gs usuoccy mbagnbm gn tbrds la o tromgtglnoc

mbht sustognohgcgty arodbwlre gn wfgkf rgse gs o aunktgln la tfb kluntry‗sprgdory hoconkb (gnacubnkbm hy agskoc om`ustdbnt strotbigbs) os wbcc osgntbroktglns hbtwbbn bklnldgk irlwtf onm tfb ovbroib klst la aunmgni(Hclddbstbgn 8:?:). ]fgs mbagngtgln agts dlst la tfb bdbrigni dorebtkrgsbs murgni tfb ?76:s onm ?77:s. [gnkb tfb aocc la Cbfdon, krgsgs-rbcotbmgntbroktglns fovb cbm tl on unprbkbmbntbm bxponsgln gn slvbrbgin hoconkbsfbbts onm o sforp gnkrbosb gn laa-hoconkb sfbbt gtbds sukf os klntgnibnt

cgohgcgtgbs. ]fbsb mbvbclpdbnts worront o rbmbagngtgln la slvbrbgin rgse,wgtf irbotbr bdpfosgs ln o slvbrbgin hoconkb sfbbt opprlokf tlibtfbrwgtf rbcgohcb gnalrdotgln ln laa-hoconkb sfbbt gtbds sukf os iuorontbbsonm lutstonmgni mbrgvotgvbs plsgtglns (Hclddbstbgn, Iuzzl, onm Flcconmalrtfkldgni). On ommgtglnoc kldpcgkotgln gs tfb nbbm tl ovlgm lr dgtgiotb

?.:

?.2

8.:

8.2

;.:

;.2

=.:

  p  b  r  k  b  n   t

=.2

2.:

2.2

8::9 8::6 8::7 8:?:

Rngtbm [totbsRngtbm Egnimld

IbrdonyAronkb @opon

Agiurb ?6.2 Clni-]brd Gntbrbst Xotbs gn [bcbktbm LBKMKluntrgbs, 8::9‛?:

[lurkb0 Outflr, hosbm ln moto arld LBKM 8::7o.Nltb0 Agiurbs alr 8::7 orb bstgdotbs. Agiurbs alr 8:?: orb prl`bktglns.

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =29 

?.:

?.2

8.:

8.2

;.:

;.2

=.:

=.2

2.:

2.2

  p  b  r

  k  b  n   t  o  i  b  l   a   t  l   t  o   c  l  u   t   c  o  y  s

1.:

8::9 8::6 8::7 8:?:

Rngtbm [totbsRngtbm Egnimld

IbrdonyAronkb @opon

Agiurb ?6.1 Nbt Ilvbrndbnt Mbht Gntbrbst Zoydbnts gn[bcbktbm LBKM Kluntrgbs, 8::9‛?:

[lurkb0 Outflr, hosbm ln moto arld LBKM 8::7o.

Nltb0 Agiurbs alr 8::7 orb bstgdotbs. Agiurbs alr 8:?: orb prl`bktglns.

plssghcb dorebt strbss rbcotbm tl tfb fgifbr rboc gntbrbst rotbs osslkgotbmwgtf tfb kbntroc hone‗s bxgt strotbiy (Hclddbstbgn 8::7h). ]l tfot bnm,gt gs gdplrtont tfot tfb (auturb) sfgat tl o tgiftbr dlnbtory plcgky hbkorbauccy gdpcbdbntbm gn tbrds la tfb tgdgni onm sbqubnkgni la tfb mga-abrbnt bxgt dbosurbs toebn hy tfb dlnbtory outflrgtgbs. Hbkousb mbhtdonoibrs orb agnonkgni fgstlrgkoccy fgif (onm stgcc gnkrbosgni) humibt

mbagkgts, gt gs gdplrtont tfot MDLs onm kbntroc hones ebbp bokf ltfbrgnalrdbm ohlut plcgky dlvbs tfot doy fovb sgingagkont dorebt gdpokts(Hclddbstbgn 8::7h).

Kfonibs gn Hlrrlwgni [trotbigbs

LBKM mbht donoibrs unmbrcgnb alur gdplrtont gnacubnkbs la tfb lnilgniagnonkgoc onm bklnldgk krgsgs ln hlrrlwgni strotbigbs0

• ]fb hlrrlwgni rbqugrbdbnts gn dony LBKM kluntrgbs fovb gnkrbosbmsgingagkontcy gn rbsplnsb tl hogclut lpbrotglns onm ltfbr krgsgs-gnmukbmbxpbnmgturbs (agiurb ?6.9). Hlrrlwgni nbbms ocsl gnkrbosbm tfrluifommgtglnoc enlke-ln baabkts la tfb rbkbssgln ln bxpbnmgturbs onm clwbrtox rbvbnubs.

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =27

Xbsplnsbs tl tfb [urib gn Hlrrlwgni Nbbms

]fb surib gn hlrrlwgni nbbms fos wlrsbnbm gssuonkb klnmgtglns, wgtf sldbLBKM mbht donoibrs rbplrtgni cgqugmgty prbssurbs gn sbklnmory dorebtsonm sldbtgdbs wboe mbdonm onm mgstlrtglns gn prgdory dorebts. Mbcb-iotbs arld tfb LBKM Ylregni Zorty ln Zuhcgk Mbht Donoibdbnt klnagrdtfot rbsplnsbs tl dukf fgifbr hlrrlwgni rbqugrbdbnts onm klnkbrns ohlutplssghcb dorebt ohslrptgln prlhcbds gnkcumbm kfonibs gn gssuonkb dbtf-

lms (gnkcumgni dlrb acbxghcb ouktglns, tfb gntrlmuktgln la ouktgln abbs, onmtfb usb la mgstrghutgln dbtflms ltfbr tfon ouktglns, sukf os synmgkotgln,Mutkf mgrbkt ouktgln prlkbmurbs, onm prgvotb pcokbdbnt) onm kfonibs gnlptgdoc slvbrbgin plrtalcgls (mrgvbn hy nbw hbnkfdores tfot pcokb irbotbrbdpfosgs ln sflrt-tbrd popbr onm o rbalrducotbm klst-rgse tromb-laa).

Gn rbsplnsb tl cgqugmgty prbssurbs, rgsgni hlrrlwgni rbqugrbdbnts, onmtluifbr gssuonkb klnmgtglns, dony MDLs domb do`lr kfonibs tl gssuonkbprlkbmurbs onm tfb klnmgtglns alr usgni bxgstgni systbds onm tbkfngqubs(tohcb ?6.?). ]fb rgse-ovbrsb hbfovglr la gnvbstlrs alrkbm mbht donoi-

brs tl dlmgay tfbgr aunmrogsgni strotbigbs. ]fbrb orb rbplrts la gnkrbos-gni gntbrbst gn tfb usb la synmgkotgln, wfgkf fos tfb pltbntgoc tl ropgmcyokfgbvb o vbry fgif gngtgoc lutstonmgni vlcudb la gssubs wgtf hbttbr pcokgnikbrtognty tfon ouktglns. ]fb usb la synmgkotgln doy gnkrbosb cgqugmgtyonm rbmukb hlrrlwgni klsts. [ynmgkotgln ocsl fos pltbntgoc mlwnsgmbs,

?8.:

?776 ?777 8::: 8::? 8::8 8::; 8::= 8::2 8::1 8::9 8::6

98.;9?.:   9?.7   9?.9   98.;

9=.8  92.8   92.1

  91.9   99.:

9;.9

?;.: ?8.9  ?;.1

  ?=.=?2.9 ?2.8 ?=.2

?;.; ?;.?

?1.?

ilvbrndbnt hlnms dlnby dorebt gnstrudbnts

Agiurb ?6.6 Zbrkbntoib Kldplsgtgln la LBKM KbntrocIlvbrndbnt Mbht, ?776‛:6

[lurkb0 Outflr, hosbm ln moto arld LBKM 8::7h.Nltb0 ]fb iop hbtwbbn ?::.: onm tfb sud la twl agiurbs klnsgsts la

nlndorebtohcb mbht.

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=1:  hclddbstbgn

]ohcb ?6.? Kfonibs gn LBKM Gssugni Zrlkbmurbs onmGnstrudbnts gn Xbsplnsb tl tfb Iclhoc Krgsgs

Kluntry KfonibOustrocgo Dlrb acbxghcb ouktgln kocbnmors

Gssuonkb la gnacotgln-gnmbxbm hlnms rbklddbnkbm gn sbklnmfoca la 8::7 tl hrlombn gnvbstlr hosb5 agrst gssuonkbwos tfrluif synmgkotbm laabrgni. [uhsbqubnt gssuonkbla gnacotgln-gnmbxbm hlnms pconnbm tfrluif sgnicb-prgkbouktglns. Ouktglns alr occ nldgnoc mbht orb tfrluif tfbductgpcb-prgkb alrdot.

Oustrgo Dlrb bdpfosgs ln gnvbstlr rbcotglns

Hbcigud ]op socbs alr clni-tbrd mbhtGnkrbosbm pcokbdbnt la dbmgud-tbrd burl nltbs

Konomo Xbgntrlmuktgln la tfrbb-ybor doturgtyXbmuktgln gn rbiucor huy-hoke prlirod hut dogntbnonkb la

swgtkf lpbrotglns ln clni bnm tl supplrt dorebt cgqugmgtyGntrlmuktgln la ommgtglnoc hbnkfdores alr twl- onm agvb-ybor

sbktlrs

Mbndore Rsb la prgvotb pcokbdbnt gn alrbgin dorebts gn 8::6]brdgnotgln la ]rbosury-hgcc prlirod gn 8::6

Irbotbr usb la ouktglns gn cgbu la top socbsAgnconm Mgvbrsgagkotgln la aunmgni slurkbs

Irbotbr bdpfosgs ln gnvbstlr rbcotglnsDlrb kllrmgnotgln wgtf prgdory mbocbrsFgifbr synmgkotgln abbsOktgvb usb la mbdonm-suppcy wgnmlws

Aronkb Gnkrbosbm acbxghgcgty alr hbttbr dotkfgni mbdonmGssuonkb la laa-tfb-run hlnms sgnkb sbklnm foca la 8::9

Ibrdony Rsb la top socbs alr clni-tbrd mbht

Dlrb arbqubnt ouktglnsIrbbkb Hbignngni gn 8::7, ouktglns la ]rbosury hgccs omlptbm sgnicb-

prgkb alrdot[ynmgkotgln alr occ typbs la hlnms onm rblpbngnis

Funiory Dlrb acbxghcb ouktgln kocbnmor (hgwbbecy hlnm ouktglns wgtfmotbs hut wgtflut tbnlrs gn kocbnmors)

Dlrb acbxghgcgty gn odlunts laabrbmGntrlmuktgln la tlp-up ouktglns (nlnkldpbtgtgvb

suhskrgptgln) onm ouktgln abbs

Dlrb arbqubnt usb la rblpbngnis la laa-tfb-run hlnms onmhuy-hoke ouktglns

Zconnbm gntrlmuktgln la bxkfonib ouktglnsGntrlmuktgln la mgrbkt, rbiucor dbbtgnis wgtf gnstgtutglnoc

gnvbstlrs

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =1?

Gkbconm [gnicb-prgkb ouktglns (alr clni-tbrd hlnms) usbm tlibtfbrwgtf ductgpcb-prgkb ouktglns

Grbconm [ynmgkotgln ommbm os aunmgni tllcOuktglns alr sflrt-tbrd mbht

Gtocy Dlrb acbxghcb prlkbmurbsGnkrbosb gn ronib la laabrbm odlunts alr ln-tfb-run hlnmsZlssghgcgty la laabrgni ommgtglnoc laa-tfb-run hlnms os

rbsplnsb tl fgifcy vlcotgcb dorebt klnmgtglnsOm`ustdbnt la ouktgln prgkgni dbkfongsd alr nldgnoc hlnms,

cgnebrs, onm aclotbrs (gssubr mgskrbtglnoccy sbts tltoc occlkotbmvlcudb wgtfgn prbvgluscy onnlunkbm ronib)Zortgkgponts gn ]-hgcc (Hulng Lrmgnorg mbc ]bslrl UHL]T)

ouktglns rbqugrbm tl suhdgt hgms gn tbrds la ygbcmDlmgagkotgln la dbtflm alr kockucotgni sforb gn ouktglnsXonib la doturgty la hlnms slcm tl prgdory mbocbrs ot

nlnkldpbtgtgvb prgkbs bxtbnmbmGntrlmuktgln la rblpbngnis la lcm hlnms

Elrbo,Xbp. la 

[gnicb-prgkb alrdot la ouktglns kfonibm tl ductgpcb-prgkbalrdot gn [bptbdhbr 8::7

Gntrlmuktgln la klnvbrsgln laabrsDbxgkl Rsb la top gssubs alr sflrt- onm clni-tbrd hlnms

Nbtfbrconms Gnkrbosbm arbqubnky la hlnm ouktglns (la laa-tfb-run hlnms)Bxtbnmbm rbpl onm klddbrkgoc popbr aokgcgtgbs (clnibr

doturgty, bxtro alrbgin kurrbnky gssuonkb)Bxtbnmbm ]rbosury-hgcc prlirods

NbwPboconm

Gntrlmuktgln la nbw clni-tbrd hlnmRsb la top gssubs alr sflrt-tbrd mbhtDlngtlrgni la alrbgin dorebts alr ottroktgvb alrbgin

hlrrlwgni lpplrtungtgbsGntrlmuktgln la nbw –rbvbrsb top tbnmbr— aokgcgty

Nlrwoy Lncy sgnicb-prgkb ouktglns nlw usbm

[clvoeXbpuhcgk

Klntbdpcotgln la mgrbkt sbccgni onm huyhokes gn sbklnmorydorebt, unmbrwrgtgni ouktglns (sgnicb prgkb hosbm ln prgkbmgsklvbry tfrluif synmgkotgln), huyhokes, onm bxkfonibouktglns

]ureby Xbvbnub-gnmbxbm hlnms gntrlmukbm tl hrlombn gnvbstlr hosb

RngtbmEgnimld

Dgng-tbnmbrs gntrlmukbm gn Lktlhbr 8::6 os dlrb acbxghcbsuppcbdbntory mgstrghutgln dbtflm oclnisgmb klrb ouktglnsprlirod

MDL usgni synmgkotbm laabrgnis tl suppcbdbnt gts ouktglnprlirod

Gntrlmuktgln la plstouktgln lptgln aokgcgty

[lurkb0 Xbsplnsbs tl 8::7 [urvby la tfb LBKM Ylregni Zorty ln Zuhcgk MbhtDonoibdbnt.

]ohcb ?6.? (klntgnubm)

Kluntry Kfonib

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=18  hclddbstbgn

flwbvbr, sukf os dlrb cgdgtbm rbokf odlni pltbntgoc huybrs, tfb prbsbnkbla dlrb rgse-ovbrsb gnvbstlrs tfon mbocbrs portgkgpotgni gn ouktglns, onmfgifbr gntbrdbmgotgln klsts.

Dony MDLs orb lpbrotgni dlrb arbqubnt ouktglns, wflsb skfbmucbsfovb hbkldb dlrb acbxghcb onm lpplrtungstgk. ]fb doturgty la mbht foshbkldb sflrtbr, onm tfbrb gs irlwgni usb la alrbgin kurrbnky cgohgcgtgbs.

]fbsb kfonibs krbotb sldb rgses. Os mbht donoibrs hbkldb dlrb lpplr-tungstgk, gssuonkb prlirods orb hbkldgni cbss prbmgktohcb”sldbtfgnitfot doy nlt hb mbsgrohcb gn tfb clni tbrd. MDLs bdpfosgzb tfot tfby wgccklntgnub tl lpbrotb o tronsporbnt mbht donoibdbnt arodbwlre supplrtbmhy omlptgni o strlni klddungkotgln plcgky. ]ronsporbnky onm prbmgkt-ohgcgty rbdogn gnstrudbntoc gn rbmukgni tfb typb la dorebt nlgsb tfot kon

unnbkbssorgcy gnkrbosb hlrrlwgni klsts.

Klnkcumgni Xbdores

MDLs rbsplnmbm tl mrodotgkoccy gnkrbosbm hlrrlwgni rbqugrbdbnts onmklnkbrns ohlut plssghcb dorebt ohslrptgln prlhcbds gn sbvbroc woys.Xbsplnsbs gnkcumbm kfonibs gn gssuonkb dbtflms (gnkcumgni dlrb acbx-ghcb ouktglns, tfb gntrlmuktgln la ouktgln abbs, onm tfb usb la mgstrghutglndbtflms ltfbr tfon ouktglns sukf os synmgkotgln)5 omlptgln la Mutkfmgrbkt ouktgln prlkbmurbs onm prgvotb pcokbdbnt5 onm kfonibs gn lptgdocslvbrbgin plrtalcgls (mrgvbn hy nbw hbnkfdores wgtf o irbotbr bdpfosgsln sflrt-tbrd popbr onm o rbalrducotbm klst-rgse tromb-laa).

Octfluif aunmrogsgni strotbigbs fovb hbkldb dlrb acbxghcb onm sldb-wfot dlrb lpplrtungstgk, LBKM mbht donoibrs rbdogn klddgttbm tldogntogngni o tronsporbnt mbht donoibdbnt arodbwlre gn lrmbr tl dgng-dgzb dbmgud-tbrd hlrrlwgni klsts. ]fgs plcgky pbrspbktgvb gs o nbkbssoryklnmgtgln tl dogntogn ungntbrruptbm okkbss hy slvbrbgin hlrrlwbrs tldorebts.

]fb gddbmgotb krgsgs rbsplnsb hy LBKM MDLs wos aogrcy sukkbssauc.Hut tfb sgtuotgln kon mbtbrglrotb ropgmcy hbylnm o dorebt kldalrt cbvbc,2 os bvgmbnkbm hy tfb sforp gnkrbosb gn Irbbe hlrrlwgni klsts gn Oprgc‛Doy8:?: onm klntoigln rgse. Gn vgbw la clldgni sbrglus agskoc prlhcbds onmslvbrbgin rgse, nlt lncy gn Irbbkb hut gn sbvbroc LBKM ilvbrndbnts,tfb gdplrtonkb la o krbmghcb dbmgud-tbrd agskoc lutclle fos gnkrbosbm.]fb Irbbe bxpbrgbnkb mbdlnstrotbs tfb gdplrtonkb la slunm krgsgs don-oibdbnt (gnkcumgni sbnmgni kcbor plcgky dbssoibs onm dogntogngni illmklddungkotgln kfonnbcs wgtf tfb dorebt) onm o krbmghcb agskoc lutclle.

Bspbkgoccy murgni krgsgs pbrglms, dorebts nbbm tfb kldalrt lr mbtbrrbnkb laplcgky oktglns tfot rbmukb nlgsb, gnkrbosb tfb sginoc, lr hltf.Hy tfbdsbcvbs , mbht onm mbagkgt cbvbcs os o pbrkbntoib la IMZ konnlt

hb usbm tl prbmgkt tfb lnsbt onm suhsbqubnt mynodgks la mbht krgsbs,hbkousb tfby klnkboc gdplrtont strukturoc mgaabrbnkbs okrlss kluntrgbs

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =1;

tfot fovb gdplrtont (sldbtgdbs nlncgnbor) gdpokts ln tfb sustognohgcgtyla ilvbrndbnt mbht (bxodpcbs gnkcumb irlwtf pltbntgoc, tfb mbirbb lamldbstgk gnstgtutglnoc sovgnis, fldb hgos la gnvbstlrs, onm agskoc kopokgty).

O dlrb tflrluif ossbssdbnt ocsl rbqugrbs toegni gntl okklunt tfb(bxpbktbm) rboc klsts la tfb 8::9‛:7 honegni krgsbs. [bvbroc stumgbs mbd-lnstrotb tfot tfb rboc klsts la systbdgk honegni prlhcbds fovb hbbn irlw-gni sgnkb tfb ?79:s onm bxkbbm tflsb la kurrbnky krgsbs (Hlrml onm ltfbrs8::?).1 ]fbsb fgifbr klsts gnkrbosb tfb kfonkb tfot o honegni krgsgs wgccdutotb gntl o slvbrbgin mbht krgsgs (Konmbcln onm Zocd 8:?:). Xbgnfortonm Xlilaa (8::6) bstgdotb tfot ln ovbroib, tfb stlke la slvbrbgin mbhtocdlst mluhcbm tfrbb ybors oatbr tfb honegni krgsgs. ]fb gnkrbosb gn slvbr-bgin rgse, tfb rgse la krlwmgni lut, onm tfb tgiftbngni la gssuonkb klnmg-

tglns put tfb spltcgift ln tfb gdplrtonkb la o prlpbr agskoc onm dlnbtorybxgt strotbiy. [lvbrbgin mbht donoibrs, wgtf tfb bssbntgoc supplrt la slunmagskoc klnslcgmotgln plcgkgbs, nbbm tl prbporb onm gdpcbdbnt o tgdbcy onmkrbmghcb dbmgud-tbrd bxgt strotbiy. O krbmghcb bxgt strotbiy gs ocsl nbbmbmtl klntrlc lvbrcy nbiotgvb dorebt sbntgdbnts onm unkbrtogntgbs ohlut slv-brbgin krbmgt rgse tfot klucm cbom tl mysaunktglnocgtgbs ot tfb sflrt bnm ladorebts. Hbttbr klddungkotgln kfonnbcs odlni MDLs, tfb dlnbtoryonm agskoc outflrgtgbs, onm dorebts orb bssbntgoc, bspbkgoccy murgni pbrglmsla agnonkgoc aroigcgty onm pbrkbptglns la fgifbr slvbrbgin rgse.

Krgsgs-gnmukbm plcgky rbsplnsbs sgnkb tfb klccopsb la Cbfdon fovb cbmtl on unprbkbmbntbm bxponsgln gn slvbrbgin hoconkb sfbbts onm o sforpgnkrbosb gn laa‛hoconkb sfbbt gtbds sukf os klntgnibnt cgohgcgtgbs. ]fbsbmbvbclpdbnts nbkbssgtotb o rbmbagngtgln la slvbrbgin rgse wfbn ossbssgnitfb slvbrbgin rgse lutclle. Dbosurbs la slvbrbgin rgse sflucm auccy rbacbkteby vucnbrohgcgtgbs ln slvbrbgin hoconkb sfbbts osslkgotbm wgtf agnonkgoccgohgcgtgbs onm ossbts (alr o mbtogcbm onocysgs, sbb Hclddbstbgn 8::1 onmHclddbstbgn onm Elk 8::6). ]fbsb hrlombr rgse dbosurbs rbqugrb ongntbirotbm opprlokf tl slvbrbgin rgse donoibdbnt, wgtf irbotbr bdpfosgsln o slvbrbgin hoconkb sfbbt opprlokf wfgcb toegni gntl okklunt rbcgohcb

gnalrdotgln ln laa‛hoconkb sfbbt gtbds, sukf os iuorontbbs, onm lutstonm-gni mbrgvotgvb plsgtglns, sukf os swops.

Nltbs

]fb outflr gs gnmbhtbm tl Ds. Bycbd Qoyvomo Mbryo (ln sbklnmdbnt arld tfb]uregsf ]rbosury) alr bxkbccbnt stotgstgkoc ossgstonkb.

  ?. ]fb plcgky gnalrdotgln gn tfgs kfoptbr gs hosbm ln LBKM survbys la mbc-

biotbs la tfb Ylregni Zorty ln Zuhcgk Mbht Donoibdbnt, puhcgk gnalrdotgln arldlaagkgoc slurkbs, onm LBKM (8::7o, 8::7h).  8. ]fgs rboslngni gdpcgbs rb`bktgln la tfb Xgkormgon bqugvocbnkb fypltfbsgs.

On borcgbr pbrglm la wgmbsprbom mbagkgts (tfb ?76:s) prldptbm o vgilrlus (sldb-tgdbs ocdlst gmblcligkoc) mbhotb ohlut tfb baabkt la agskoc plcgky ln gntbrbst rotbs.Kfgnn onm Aronebc (8::;, p. 8) tfluift tfgs mbhotb wlucm fovb hbbn sbttcbm hy nlw

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=1=  hclddbstbgn

gn tfb mgrbktgln la –rb`bktgni Xgkormgon bqugvocbnkb os o proktgkoc mbskrgptgln la tfbrboc wlrcm,— o klnkcusgln ocsl mrown hy Iocb onm Lrszoi (8::;). Ltfbr onocystsstrlnicy mgsoirbb wgtf tfgs klnkcusgln. 

;. Dony MDLs orb usgni kurrbnky swops tl bcgdgnotb tfb rgses osslkgotbmwgtf tfb rbsuctgni alrbgin kurrbnky bxplsurb.  =. Gn tgdbs la bxtrbdb rgse ovbrsgln onm fgif unkbrtognty, ilvbrndbnts usb

sflrt-tbrd gssuonkb tl rogsb bxtro aunms ot sflrt nltgkb wfgcb prlvgmgni cgqugm onmsbkurb gnstrudbnts tl tfb dorebt.

  2. ]l on gdplrtont mbirbb, tfgs kldalrt cbvbc gs orhgtrory (lr suh`bktgvb) onmtfbrbalrb form lr gdplssghcb tl prbmgkt. ]fgs pbrspbktgvb ln krgsgs sgtuotglns rbacbktstfb gnsgift tfot o mbht sustognohgcgty arodbwlre konnlt hb usbm tl prbmgkt tfb –rboctgdb— lnsbt onm bvlcutgln la o slvbrbgin mbht krgsgs. Dlrblvbr, dorebts orb prlnbtl unmbr- onm lvbrsflltgni os wbcc os huhhcbs.

1. O eby agnmgni la Hlrml onm ltfbrs gs tfot tfb ovbroib honegni krgsgs gs alc-clwbm hy o =.? pbrkbnt aocc gn rboc lutput irlwtf onm o rbkbssgln costgni twl ybors.

Xbabrbnkbs

Hclddbstbgn, F. @. 8::1. –Ilvbrndbnt Hoconkb [fbbt Xgse Donoibdbnt.— Gn Ilv-brndbnt  Mbht Donoibdbnt0 Nbw ]rbnms onm Kfoccbnibs, bm. D. Ygccgodsln.Clnmln0 Kbntroc Honegni Zuhcgkotglns.

”””. 8::7o. –Xbsplnmgni tl tfb Krgsgs0 Kfonibs gn LBKM Zrgdory Dorebt Zrl-kbmurbs onm Zlrtalcgl Xgse Donoibdbnt.— LBKM @lurnoc0 Agnonkgoc Dorebt]rbnms 80 ?7?‛8:1.

”””. 8::7h. –[totb Hlrrlwgni onm Bxgt Zlcgkgbs Krbotb o Nbw [bt la Kfoc-cbnibs.— Agnonkgoc ]gdbs, Mbkbdhbr ?9.

”””. 8:?:. –Lutclle alr Dorebts onm Xgses arld tfb Zbrspbktgvb la [lvbrbginGssubrs.— Zopbr prbsbntbm ot tfb Agnonkgoc Xlunm ]ohcb la tfb LBKM Klddgt-tbb ln Agnonkgoc Dorebts, Zorgs, Oprgc ?2.

Hclddbstbgn, F. @., onm Orzu Ile. 8::7. –]fb [urib gn Hlrrlwgni Nbbms laLBKM Ilvbrndbnts0 Xbvgsbm Bstgdotbs alr 8::7 onm 8:?: Lutclle.— LBKM

 @lurnoc0 Agnonkgoc Dorebt ]rbnms 80 ?99‛67.

Hclddbstbgn, F. @., onm Aotls Elk. 8::6. –[lvbrbgin Ossbt onm Cgohgcgty Donoib-dbnt0 Zroktgkoc [tbps tlworms Gntbirotbm Xgse Donoibdbnt.— Alrud Agnonkgbr/ 

Xbvub Honkogrb bt Agnonkgærb 1‛90 ;1:‛17.Hclddbstbgn, Fons @., Qgnkbnzl Iuzzl, onm Occgsln Flcconm. 8:?:. –Mbht Dor-

ebts0 Zlcgky Kfoccbnibs gn tfb Zlst-Krgsgs Conmskopb.— LBKM @lurnoc0 Agnon-kgoc Dorebt ]rbnms 8:?: (?).

Hlrml D. M., H. Bgkfbnirbbn, M. Ecgnibnhgbc, onm D. [. Dortgnbz Zbrgo. 8::?.–Gs tfb Krgsgs Zrlhcbd Irlwgni Dlrb [bvbrb<— Bklnldgk Zlcgky ;8 (@onuory)02?‛68.

Konmbcln, H., onm A. K. Zocd. 8:?:. –Honegni onm Mbht Krgsbs gn Burlpb0 ]fbMonibrlus Cgogslns<— ]fb Bklnldgst  ?26 (?)0 6:‛77.

Kfgnn, D., onm @. Aronebc. 8::;. –]fb Burl Orbo onm Ylrcm Gntbrbst Xotbs.—

Zopbr prbsbntbm ot tfb Kbntrb alr Bklnldgk Zlcgky Xbsborkf/Burlpbon HonegniKbntbr onnuoc klnabrbnkb –]fb Burl Orbo os on Bklnldgk Bntgty,— Bctvgccb,Ibrdony, [bptbdhbr ?8‛?;.

Iocb, Y. I., onm Z. X. Lrszoi. 8::;. –]fb Bklnldgk Baabkts la Clni-]brd AgskocMgskgpcgnb.— Rrhon-Hrllegnis ]ox Zlcgky Kbntbr Mgskussgln Zopbr 6, HrllegnisGnstgtutgln, Yosfgnitln, MK.

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puhcgk mbht donoibdbnt onm slvbrbgin rgse =12

Irbbnspon, O. 8:?:. –]fb Krgsgs.— Hrllegnis Zopbrs ln Bklnldgk Oktgvgty,[prgni0 ?‛=7.

LBKM (Lriongsotgln alr Bklnldgk Kl-lpbrotgln onm Mbvbclpdbnt). 8::7o.

LBKM Bklnldgk Lutclle Nl. 61 (Zrbcgdgnory Bmgtgln). Zorgs0 LBKM.”””. 8::7h. LBKM Kbntroc Ilvbrndbnt Mbht, [totgstgkoc Wborhlle ?777‛8::6.

Zorgs0 LBKM.

Xbgnfort, K. D., onm E. [. Xlilaa. 8::6. –]fb Alrilttbn Fgstlry la MldbstgkMbht.— NHBX Ylregni Zopbr ?;7=1, Notglnoc Hurbou la Bklnldgk Xbsborkf,Kodhrgmib, DO.

Yorsf, E. 8:?:. On Lmb tl Gnmbpbnmbnkb. Dorkf 81. [fomlw Lpbn Dorebt Kld-dgttbb, Nbw Wlre.

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=19 

O

okkluntohgcgty onm tronsporbnkyMbDZO onocysgs la clw-gnkldb

kluntrgbs, =;;gn LBKM kluntrgbs, =18suhnotglnoc mbht, 86:‛6?

om`ustdbnt klnmgtglnocgty,GCCX, ;;9

om`ustdbnt aokgcgty, GCCX,;=:‛=?

Omdotg, Onot X., ;??omdgngstrotgvb vbrsus

omdgngstrotgvb opprlokfbstl suhnotglnoc gnslcvbnky,86=‛62

Oargko. [bb GMO-lncy Oargkonkluntrgbs5 Dgmmcb Bostonm Nlrtf Oargko5[uh-[oforon Oargko5spbkgagk kluntrgbs

Oargkon Mbvbclpdbnt Hone,822‛21, 871, ==2n?8

Oiiorwoc, Qgnlm E., ;:2Ofdbm, Aogsoc, xgx, 7, ;29Oeogeb gnalrdotgln krgtbrgln, 2=

Ochbrt, @., 1:Ocbsgno, Ochbrtl, ;:7Occbn, D., ;26Onmbrsln, Zfgccgp X. M., xgx,

?:, ;6;

Onilco, ;?Ontgiuo onm Horhumo, 8:7Oroh Xbpuhcgk la Biypt. [bb Biypt,

Oroh Xbpuhcgk la orhgtrotgln

NIL prlplsocs, ;8:

trghunoc prlplsoc. [bb trghunocalr slvbrbgin mbht

Oribntgnombht rbstrukturgni dbkfongsds

onm agnonkgoc krgsgs gn,8=2‛=1

mbacotgln murgni agnonkgockrgsgs gn, 8;?, 8;;‛;2,8;2a 

bxtbrnoc mbht rbcotgvb tl IMZ,

8::8‛:9, ?92, ?78n=agskoc rucbs gdpcbdbntbm gn,

?78n;gnacotgln rotbs, 8::8‛:9, ?92dokrlbklnldgk spokb gn,

?99, ?6=dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs,?69, ?66

slvbrbgin hlnm sprboms gn, ?6:suhnotglnoc mbht gn, 89=

Ordbngo, ;?O[BON (Osslkgotgln la [lutfbost

Osgon Notglns), ?78n7

Gnmbx

Hlxbs, agiurbs, nltbs, onm tohcbs orb gnmgkotbm hy h, a, n, onm t, rbspbktgvbcy.

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=16  gnmbx

Osgo. [bb ocsl Bost Osgo onm Zokgagk5Bostbrn Burlpb onmKbntroc Osgo5 [lutf Osgo5

spbkgagk kluntrgbskopgtoc gnaclws, =?1, =?6a mldbstgk mbht plrtalcgl,

tronsalrdotgln la, ;7;baabkts la iclhoc agnonkgoc krgsgs

gn, ;77, =:8bxtbrnoc tl mldbstgk mbht rotgl,

;7:, ;7?Osgon agnonkgoc krgsgs (?779‛?776)

klrplrotb hlnm ygbcm sprboms

onm, ?:2, ?82n?mbacotglnory om`ustdbnt

bpgslmbs, onocysgs la,8;?‛;;, 8;=t, 8;2

iclhoc agnonkgoc krgsgskldporbm, ?87

cbsslns cbornbm arld, xvgrbcgonkb la Osgon klrplrotbs ln

aunmgni tl clkoc agnonkgocgnstgtutglns, ;6:n1

sbca-gnsuronkb gn woeb la, 829Osslkgotgln la [lutfbost

Osgon Notglns (O[BON),?78n7

Oustrocgo, 816n8=ovlgmgni mbht krgsbs, 9‛6, 8=;‛9?

kosb stumy onocysbs la rbkbntmbaoucts, 8=7‛21, 81?,81=‛12t 

klntgnibnt mbht klntrokts,829‛26mbht rotgls gn clw- onm

clwbr-dgmmcb-gnkldbkluntrgbs, 818‛1;t 

bvlcutgln la bxtbrnocmbht murgni iclhocagnonkgoc krgsgs, 8=1‛=7,8=9‛=6t, 82:a 

gnbvgtohcb mbaoucts, mbocgni wgtf,

826‛27. [bb ocsl mbhtrbstrukturgni dbkfongsds

cbioc onm bklnldgk ospbktsla slvbrbgin mbht,unmbrstonmgni, 8==‛=1

lvbrhlrrlwgni, ovlgmonkbla, 821‛29

prgnkgpcbs alr rbsplnsghcb

slvbrbgin cbnmgni onmhlrrlwgni, omoptotglnla, 827‛1:

prgvotb mbht, puhcgk krgsbsrbsuctgni arld, 829

sbca-gnsuronkb, 829

H

Hoibflt, Y., ;;;

Hofodos, 8:?, 8:=Hocoergsfnon, X., 6;Hoctoig, F. H., 61Honmgbro, Cuko, xgx, =, =2Hone alr Gntbrnotglnoc [bttcbdbnts

(HG[), ;7?honeruptky

puhcgk vbrsus prgvotb,86;‛6=

slvbrbgin. [bb slvbrbgin mbaouctsuhnotglnoc mbht gnslcvbnky

dbkfongsds, 868‛66hones onm honegni

klrrbcotgln la honegni krgsbswgtf mbht onm kurrbnkykrgsbs, 8?‛8;, 88a, 8;a, ;8‛;2t 

rbagnonkgni nbbms onmklrplrotb hlnm ygbcm

sprboms, ?:1‛9, ?:9a Honqub mb Aronkb, ;?6Horhomls, 8:?Hosbc-GG, ;18Hoybsgon dlmbc ovbroigni (HDO)

tbkfngqubs, =1, 2;‛22,26‛1:

Hbor [tborns, 96Hbbrs, Movgm ]., 879Hbcorus, ;?

Hbcgzbonocysgs la mbht krgsgs la 8::1,

8=7‛28, 81?kurrbnt rgse aoktlrs gn, 87mbht hurmbn gnmgkotlrs gn, 8:7

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gnmbx =17

IMZ gn, 8:?, 82?do`lrgty oktgln kcousbs, 816n82

Hbccos, Mgdgtrg, xgx, 2, 99

Hbn`odgn, Movgm, 879, 877, ;::,;??, ;?8

Hfuton, ?76, 8:?, 8??‛?;, 8?8a HG[ (Hone alr Gntbrnotglnoc

[bttcbdbnts), ;7?Hclddbstbgn, Fons @., xgx,

?:, ==7HDO (Hoybsgon dlmbc ovbroigni)

tbkfngqubs, =1, 2;‛22,26‛1:

Hlmgb, P., 81Hlcgvgo, ;:7Hlctln, Z., ;==hlnmbm mbht rbstrukturgni,

8=2‛=1hlnms

huy onm sbcc ouktglns, ;91,;99a, =:1

klrplrotb. [bb klrplrotb hlnmygbcm sprboms

mbht kldplsgtgln onm strukturb,;9:‛98

slvbrbgin. [bb slvbrbgin hlnmsprboms

Hlsngo onm Fbrzbilvgno, ;?Hltswono, 81, ?76, 8:?, 8:7Hlym, M., 61Hromy hlnms, ?8:, 828, 827Hromy pcon, ?:6, ;:9, ;;?

Hromy swops, 827Hrozgchuy onm sbcc ouktglns gn, ;91,

;99a, =:1mbht kldplsgtgln onm strukturb

gn, ;11‛19, ;16a, ;98mbht donoibrs‗ rbsplnsb

tl iclhoc krgsgs gn, =:=,=:2, =:1

mbht plrtalcgl gn, ?6=, ;7;,

;7=a, ;71bklnldgk krgsgs la 8::8 gn,

?82n?bxtbrnoc mbht gssuonkb alcclwgni

iclhoc agnonkgoc krgsgs, ;79

agskoc rucbs gdpcbdbntbm gn,?78n;

alrbgin kurrbnky hlrrlwgni,

;66, ;7:, ;71alrbgin bxkfonib rbsbrvbs, ?6:iclhoc hlnms mbnldgnotbm gn

clkoc kurrbnkgbs, gssuonkbla, ;7:‛7?

fgstlry la mbaouct, cbsslnscbornbm arld, ?2

gnacotgln-cgnebm hlnms, ;9?gnacotgln toribtgni gn, ?78n;gnvbstlr hosb, ;9;

do`lrgty oktgln kcousbs,816n82

suhnotglnoc mbht gn, 89;‛92,899h, 897, 86:, 86?, 862,87?n89

Hrbttln Yllms systbd la kopgtocklntrlcs, ;;2

Hrgtogn. [bb Rngtbm Egnimldhumibt mbagkgts gn LBKM kluntrgbs,

gnkrbosb gn, =28‛2;, =2;a Huclw, @brbdy, ?8=, ;:=huy onm sbcc ouktglns, ;91,

;99a, =:1huyhokes, ;:7, =:2‛1

K

Kokbrbs, K., 96KOKs (klccbktgvb oktgln kcousbs),

82?, 816n82, ;:6, ;?6KOGK (Kldgsgûn poro co OumgtlräoGntbiroc mbc KrçmgtlZðhcgkl), Bkuomlr, 828,81=‛12t 

Kodbrlln, 8;8Konomo, 897Konbr, Dbfdbt, xgx, =, 1;, 19Konutl, Ltovgonl, 866Kopb Qbrmb, ?76, 8:?, 8:6, 8:7

kopgtoc klntrlcs, Hrbttln Yllmssystbd la, ;;2

kopgtoc aclws, ?;:, ?;?a, ?71,;;2, ;77, =?1‛?6,=?6a, =?7a 

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=9:  gnmbx

Korghhbon. [bb Bostbrn KorghhbonKurrbnky Rngln5 CotgnOdbrgko onm Korghhbon5

spbkgagk kluntrgbsKorghhbon Opprlokf, 82=Korstbns, Oiustgn, 826kosf donoibdbnt onm kosf

hoconkbs gn clw-gnkldbkluntrgbs, =;;

kotbilrgbs la rgse, fgstlrgkoc onocysgsla. [bb unmbr fgstlrgkoconocysgs la slvbrbgin mbhtkrgsbs

kousbs la slvbrbgin mbaouct. [bb mbtbrdgnonts la slvbrbginmbaouct rgse

KKCs (klntgnibnt krbmgt cgnbs),;=8, =:=

Kbntroc Odbrgko. [bb Cotgn Odbrgkoonm Korghhbon5 spbkgagkkluntrgbs

Kbntroc Osgo. [bb Bostbrn Burlpbonm Kbntroc Osgo5 spbkgagkkluntrgbs

KAO aronk zlnb, mbacotglnoryom`ustdbnt gn, 8;?‛;8,8;=a, 8;2

Kfom, 8;8Kfodhbrs, @lfn, 879kfodhrbs rçiglnocbs mbs kldptbs

(KXKs), Aronkb, 86?‛68Kfoptbr 7 honeruptky gn R.[., 896,

86;, 862‛69Kfoptbr ?? honeruptky gn R.[.,861, 869

Kfgoni Dog Gngtgotgvb swop cgnbs,?78n7

Kfgh, [., 1:Kfgcb

ovbroib agskoc onm prgdoryhoconkbs, 8::8‛:9, ?92

mldbstgk mbht plrtalcgl,

;7;, ;71agskoc rucbs gdpcbdbntbm gn,

?78n;alrbgin bxkfonib rbsbrvbs, ?6:IMZ irlwtf gn, ?6:

gnacotgln toribtgni gn, ?78n;dokrlbklnldgk spokb gn, ?91,

?68, ?6=, ?78n?;

dbmgud-tbrd kfoccbnibs onmom`ustdbnt strotbigbs,?61, ?69

Kfgnokopgtoc gnaclws, =?1Kfgoni Dog Gngtgotgvb swop

cgnbs, ?78n7mbacotglnory om`ustdbnt oatbr

Osgon agnonkgoc krgsgs,8;8‛;;

alrbgin kurrbnky hlrrlwgni, ;66Ibrdon bxplrt iogns gn, 881dokrlbklnldgk spokb gn, ?91,

?6=, ?78n?8‛?;dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs, ?69suhnotglnoc mbht gn, 89;

kcossgagkotgln la kluntrgbs gntlkotbilrgbs la rgse, 82‛81,82t, 81t 

Kcgnb, Ygccgod X., 879Kcymb, D., 2=klmb la klnmukt alr mbht

rbstrukturgni, ;?6Klfbn, Mongbc, xgx, ;, ?2klccbktgvb oktgln kcousbs (KOKs),

82?, 816n82, ;:6, ;?6Klcldhgo

mbht donoibrs‗ rbsplnsb tl

iclhoc krgsgs gn, =:8, =:2mldbstgk mbht plrtalcgl,;7;, ;71

bxtbrnoc mbht gssuonkb alcclwgniiclhoc agnonkgoc krgsgs, ;79

AKC, ;=8alrbgin kurrbnky hlrrlwgni,

;7:, ;71alrbgin bxkfonib rbsbrvbs, ?6:iclhoc hlnms mbnldgnotbm gn

clkoc kurrbnkgbs, gssuonkbla, ;7:

GDA acbxghcb krbmgt cgnb,?78n7

gnacotgln toribtgni gn, ?78n;

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gnmbx =9?

coke la mbaouct fgstlry gn, 81dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs, ?61,

?69, ?7;n?=suhnotglnoc mbht gn, 897,

86:, 86?Kldgsgûn poro co Oumgtlräo Gntbiroc

mbc Krçmgtl Zðhcgkl(KOGK), Bkuomlr, 828,81=‛12t 

klddlmgty prgkbsbaabkt la iclhoc agnonkgoc krgsgs

ln, ?;:, ?;?a 

dgmmcb-gnkldb kluntrymbvbclpdbnts,8::8‛:9, ?92

Klddlnwboctf la Mldgngko, 8:7,82=, 819n?1

Kldlrls, ;?, ?76, 8:6kldplsgtgln onm strukturb la

mbht, ;12‛98, ;11‛17a, ;9?a 

klnkbssglnoc mbht, clw-gnkldbkluntrgbs doxgdgzgni,=88‛82, =8=a 

klnkbssglnoc lr slat agnonkgni,?;8, ?26

Klnil, Xbpuhcgk la, ;?, 8;8klnsudbr prgkb gnmbx (KZG)

mbacotglnory om`ustdbntbpgslmbs, 8;?

bdbrigni dorebt mbht

gnstrudbnts cgnebmtl, =:=klntgnibnt krbmgt cgnbs (KKCs),

;=8, =:=klntgnibnt mbht klntrokts, 829‛26Klntrokts Kcousb, R.[.

Klnstgtutgln, 87?n?7klrplrotb hlnm ygbcm sprboms, 2,

?:?‛81onocytgkoc arodbwlre alr

stumygni, ?:7‛??,???a, ??8a 

kluntrgbs stumgbm gn, ?82n;mbtbrdgnonts la klrplrotb

onm slvbrbgin hlnm

sprboms kldporbm,??;‛8:, ??2‛?7t 

bklnldbtrgk onocysgs

la klrrbcotgln rgse,???‛?;, ??=t 

baabkts la iclhoc agnonkgoc krgsgsln, ?:2‛1, ?:1a 

irlwgni gdplrtonkb la, ?:8‛2,?:;‛2a 

plcgky rbklddbnmotglnsrbiormgni, ?8=

rbagnonkgni nbbms, ?:1‛9, ?:9a sbklnmory dorebt hlnm sprboms,

usb la, ?8:‛8?, ?8?t sbcbktgvb mbaouct bpgslmbs onm

alrbgin-kurrbnky hlnmdorebt sprboms, ?8?t 

slvbrbgin rgse, rbcotglnsfgptl, ?:6‛7

spgcclvbr gdpokts arldslvbrbgin tl klrplrotbsbktlr, ?8:‛8?, ?8?‛8;t 

Klrrbo, Xoaobc, 81?Klsto Xgko, =;n?Kýtb m‗Gvlgrb, ;?Kluntry Zlcgky onm Gnstgtutglnoc

Ossbssdbnt (KZGO) gnmbxmbht donoibdbnt pbralrdonkb

gn clw-gnkldb kluntrgbs,=?2, =81‛86

mbtbrdgnonts la slvbrbginmbaouct onm, 28, 22

M[O onm, ?9:‛9?, ?9:t ilvbrnonkb os rgse aoktlr,dbosurgni, ?2

fgstlrgkoc mbaouct prlhohgcgtgbs,dbosurgni, 8=, 89, ;8

KZG. [bb klnsudbr prgkb gnmbxKZGO. [bb Kluntry Zlcgky onm

Gnstgtutglnoc Ossbssdbnt(KZGO) gnmbx

krodmlwn plwbr, 869, 87?n8?

Krodtln, Zbtbr K., ;??KXKs (kfodhrbs rçiglnocbs mbs

kldptbs), Aronkb, 86?‛68krbmgt mbaouct swops, ;79,

;76a, ;77

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=98  gnmbx

krbmgtlr klddgttbbs, 82?‛28krbmgtlrs

flcmluts. [bb flcmlut krbmgtlrs

clw-gnkldb kluntrgbs, =8?‛8=,=8;‛8=a 

DAK kcousbs, ;?;n1prgvotb sbktlr. [bb prgvotb sbktlr

krbmgtlrstrghunoc alr slvbrbgin mbht

gntbrkrbmgtlr bqugty, ;8;‛8=rbprbsbntotgln la krbmgtlrs

hbalrb, ;82unkllrmgnotbm, ;:1‛7

krgsbs, agnonkgoc. [bb agnonkgoc krgsbskrlss-hlrmbr dbribr onm okqugsgtgln

(D&O), ?:;, ?:9–krlwmgni lut— gn LBKM

kluntrgbs, =2;‛2=Kuorbsdo, @bsðs Krbspl, xgx, =, =2kurrbnky krgsbs klrrbcotgni wgtf

mbht onm honegni krgsbs,8?‛8;, 88a, 8;a, ;8‛;2t 

Kyprus, 8?:

M

Mogcodg, Donsllr, xgx, 2, 96,61, ?:?

Mocb, I., 81Mos, Rmoghgr [., xgx, 7, ;29Mbocligk MKD Onocytgks, ??;, ??2mbht hurmbn gnmgkotlrs

alr GMO-lncy Oargkon kluntrgbs,?;:‛;8. [bb ocsl GMO-lncyOargkon kluntrgbs

alr sdocc stotbs, 8:1‛?;,8:9t, 8:6‛?;a 

mbht kopgtoc dorebt strukturb,;9=, ;92‛91

mbht kldplsgtgln, ;12‛98,;11‛17a, ;9?a 

mbht krgsbs. [bb agnonkgoc krgsbs

mbht cbvbc. [bb cbvbc la gnmbhtbmnbssmbht donoibdbnt, 7‛??, ;29‛1:.

[bb ocsl bdbrignidorebt bklnldgbs5agnonkgoc stohgcgty5

clw-gnkldb kluntrgbs5Lriongsotgln alrBklnldgk Kl-lpbrotgln

onm Mbvbclpdbnt (LBKM)kluntrgbs

Mbht Donoibdbnt ZbralrdonkbOssbssdbnt (MbDZO) tllc,=?2, =?1, =86‛;;,=87‛;:a, =;?‛;8t, ==8‛=;a 

mbht, prgvotb sbktlr. [bb prgvotbsbktlr mbht

mbht purkfosb prlvgsglns, 82;

Mbht Xbmuktgln Aokgcgty (MXA),GMO, ;:7, ;?;n9

mbht rbstrukturgni dbkfongsds,9‛7. [bb ocsl ovlgmgnimbht krgsbs5 prgvotb sbktlrkrbmgtlrs5 trghunoc alrslvbrbgin mbht

KOKs, 82?, 816n82, ;:6, ;?6kosb stumy onocysbs la rbkbnt

mbaoucts, 8=7‛21klmb la klnmukt alr, ;?6klrplrotb hlnm ygbcm sprboms

onm rbagnonkgni nbbms,?:1‛9, ?:9a 

mbagkgbnkgbs la kurrbnt systbd,;?9‛?7

mbagngtgln la rbstrukturgni, 8=2mgsoirbbdbnt lvbr prlkbssbs,

8=2‛=1

GCCX mbht-rbstrukturgni aokgcgty,;=?‛=8gdplrtonkb la, 826‛27[MXD, 7, 827, ;8?, ;=?, ;==suhnotglnoc mbht gnslcvbnky,

868‛66mbht, slvbrbgin. [bb slvbrbgin

mbht gn klntbxt la iclhocagnonkgoc krgsgs

mbht stlke onm agnonkgoc stohgcgty,

;1=‛12mbht strukturb, ;12‛98, ;11‛17a, 

;9?a Mbht [ustognohgcgty Arodbwlre

(M[A) onm Mbht

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gnmbx =9;

[ustognohgcgty Onocysbs(M[Os)

GMO-lncy Oargkon Kluntrgbs,

?;:‛;8, ?;1, ?=8, ?29,?9:‛9?, ?9:t 

GMO, usb hy, 816n8:[bykfbccbs mbht krgsgs, 822sdocc stotbs, 8:1

mbhtlrs, unkllrmgnotbm, ;:7‛?:Mbkcorotgln onm Zrgnkgpcbs la tfb

Oktgln Zrliroddb laCgdo (?79?), 827

mbaouct, slvbrbgin. [bb slvbrbgin

mbaouctmbagkgt humibts gn LBKM kluntrgbs,

gnkrbosb gn, =28‛2;, =2;a mbagngtgln la mbht krgsgs

mbtbrdgnonts la slvbrbginmbaouct, alr purplsbsla, =7

fgstlrgkoc onocysgs, alr purplsbsla, ?1

lnilgni onm nbw krgsbs,mgstgniugsfgni, ?7‛8?,8:a, 8?a 

mbacotglnory om`ustdbnt bpgslmbs,onocysgs la, 8;?‛;2,8;8‛;2a, 8;=t 

mbcoys gn mbht rbstrukturgnisgnvlcvgni prgvotb sbktlrkrbmgtlrs, 872, 876,877‛;::a, ;?:‛?8

MbDZO (Mbht DonoibdbntZbralrdonkb Ossbssdbnt)tllc, =?2, =?1, =86‛;;,=87‛;:a, =;?‛;8t, ==8‛=;a 

mbtbrdgnonts la slvbrbgin mbaouctrgse, =, =2‛18

HDO tbkfngqubs usbm tlonocyzb, =1, 2;‛22,26‛1:

moto sbt alr, =7‛2;, 2:‛2?t mbagngtgln la mbht krgsgs alr

purplsbs la, =7iclhoc sflkes tfblry, ?2‛?1,

?6, 87, ;8

cbvbc la gnmbhtbmnbss os. [bb cbvbc la gnmbhtbmnbss

cgtbroturb rbvgbw, =1‛=7, =9‛=6t 

dlmbc unkbrtognty, ossbssgni,2;‛2=

lut-la-sodpcb alrbkostgnibxbrkgsb, 26‛27, 27t 

rbsucts sflwgni rlhustmbtbrdgnonts, 2=‛26,21‛29t 

sbrgoc mbaouctbr tfblry, ?2, ?9,?6, ;8

mbvbclpbm bklnldgbs. [bb ocsl 

Burlpb/BurlpbonRngln (BR)/BurlOrbo5 Lriongsotgln alrBklnldgk Kl-lpbrotglnonm Mbvbclpdbnt (LBKM)kluntrgbs5 spbkgagkkluntrgbs

mbht tl IMZ rotgl gn, ;1;a rbcbvonkb la mbht donoibdbnt

onm agnonkgoc stohgcgtyalr, ;92‛91

sclwbm irlwtf gn, =?:n?6mbvbclpgni kluntrgbs. [bb bdbrigni

dorebt bklnldgbs5 clw-gnkldb kluntrgbs

mbvbclpdbnt ossgstonkb. [bb laagkgocmbvbclpdbnt ossgstonkb

Mbvcgn, Xlhbrt, ;:1Mgttdbr, Xlhbrt A., ??7

M`ghlutg, ;?Mñdbconm, Mñrtb, xgx, 1, ?72Mldgngko, Klddlnwboctf la, 8:7,

82=, 819n?1Mldgngkon Xbpuhcgk, ;?mlnlrs. [bb laagkgoc mbvbclpdbnt

ossgstonkbMrozbn, Occon, ;:7MXA (Mbht Xbmuktgln Aokgcgty),

GMO, ;:7, ;?;n9

M[A onm M[Os. [bb Mbht[ustognohgcgty Arodbwlre(M[A) onm Mbht[ustognohgcgty Onocysbs(M[Os)

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=9=  gnmbx

B

Bost Osgo onm Zokgagk rbigln. [bb

ocsl spbkgagk kluntrgbsklrplrotb hlnm dorebt gn, ?:;mbht hurmbn gnmgkotlrs gn,

8?:‛??, 8?8a baabkts la iclhoc agnonkgoc krgsgs

gn, =2prgvotb sbktlr krbmgtlrs, 877,

;::a, ;:8a Bost Osgon agnonkgoc krgsgs. [bb 

Osgon agnonkgoc krgsgs

Bostbrn Korghhbon Kurrbnky Rngln(BKKR). [bb ocsl spbkgagkkluntrgbs

klntgnubm hugcmup la puhcgkmbht gn, ;69

kluntrgbs gnkcumbm gn, 8?7n;kurrbnt okklunt hoconkb gn, 8:?mgsruptgln gn gntbrnotglnoc

kopgtoc aclw onmaunktglngni la agnonkgoc

systbd gn, ?71IMZ irlwtf gn, 8:?sovgnis-gnvbstdbnt iop,

8:?, 8:=Bostbrn Burlpb onm Kbntroc Osgo.

[bb ocsl spbkgagk kluntrgbskopgtoc gnaclws, =?1, =?7a mbht hurmbn gnmgkotlrs gn,

8?:, 8??a mbht donoibrs‗ rbsplnsb tl

iclhoc krgsgs gn, =:2mbht tl IMZ rotgls gn, ;6=baabkts la iclhoc agnonkgoc

krgsgs gn, =2, ?87, 8=7,=:8, =:=, =?1

Ibrdon bxplrt iogns gn, 881fgstlrgkoc onocysgs la mbht krgsbs

gn, ;?‛;8prgvotb sbktlr krbmgtlrs, 876,

877, ;::a, ;:8a slvbrbgin hlnm sprboms

gn, 96Botln, @lnotfon, ?8=Bhnbr, O., 96

BKKR. [bb Bostbrn KorghhbonKurrbnky Rngln

bklnldgk onm cbioc ospbkts la

slvbrbgin mbht, 8==‛=1bklnldgk irlwtf, baabkt la puhcgk

cgohgcgtgbs ln. [bb tgppgniplgnt gn slvbrbgin mbht

Bkuomlr, 828‛2;, 81?, 81=‛12t Biypt, Oroh Xbpuhcgk la 

mbht donoibrs‗ rbsplnsb tliclhoc krgsgs gn, =:8

mbht plrtalcgl gn, ?6=IMZ irlwtf gn, ?78n1

iclhoc hlnms mbnldgnotbm gnclkoc kurrbnkgbs, gssuonkbla, ;7:

dbmgud-tbrd kfoccbnibs onmom`ustdbnt strotbigbs, ?61,?69, ?66

Bccgltt Osslkgotbs v. Zbru, ;:9BDHG (Bdbrigni Dorebts Hlnm

Gnmbx), 6;, 61, 69a, 7?,?78n6, ;;7, =::

BDHGI (Bdbrigni Dorebts HlnmGnmbx Iclhoc), ;6;, ;79,;76a, ;77

bdbrigni dorebt bklnldgbs,?:, ;6;‛=??. [bb ocsl dgmmcb-gnkldb kluntrgbs

octbrnotgvb agnonkgnidbkfongsds, usb la, =:;‛=

klrplrotb hlnm ygbcm sprboms gn.

[bb klrplrotb hlnm ygbcmsprbomsmbht donoibrs‗ rbsplnsb tl

iclhoc krgsgs gn, =:8‛1mldbstgk mbht plrtalcgl,

tronsalrdotgln la,;7;‛71, ;7=a, ;72a 

bxplrt vlcudbs, ;61, ;69a alrbgin kurrbnky hlrrlwgni,

bxplsurb tl, ;66‛7;,

;67‛78a IMZ rotgls, ;1;a, ;6=‛61,

;62a, ;61a iclhoc agnonkgoc krgsgs, baabkts

la, ?87‛;:, ?;:‛;8a, 

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gnmbx =92

;6;, ;79‛=:8, ;76‛77a, =::‛=:?a 

cbsslns cbornbm arld, =:9‛7

cgohgcgty donoibdbnttbkfngqubs, =:2‛1

clkoc kurrbnky gnstrudbntsalcclwgni iclhoc agnonkgockrgsgs, ;77‛=::, =:=‛2

dokrlbklnldgk aunmodbntocs,;6;, ;6=‛66, ;62a, ;61a, ;69a 

rbcbvonkb la mbht donoibdbntonm agnonkgoc stohgcgty

alr, ;92‛91slvbrbgin hlnm sprboms gn. [bb 

slvbrbgin hlnm sprbomsBdbrigni Dorebts Hlnm Gnmbx

(BDHG), 6;, 61, 69a, 7?,?78n6, ;;7, =::

Bdbrigni Dorebts Hlnm GnmbxIclhoc (BDHGI), ;6;,;79, ;76a, ;77

Bdbrigni Dorebts Agnonkgoc [trbssGnmbx, 97, 6;, 7?, 7=, 76

Bniconm. [bb Rngtbm EgnimldBquotlr Zrgnkgpcbs, ;?8Bquotlrgoc Iugnbo, 8:7Brgtrbo, 87Bstlngo, 8:?, 8:=Btfglpgo, ==:Burlpb/Burlpbon Rngln (BR)/ 

Burl Orbo, 1‛9, 88?‛;7.

[bb ocsl Bostbrn Burlpbonm Kbntroc Osgo5 spbkgagkkluntrgbs

kopgtoc aclws alcclwgni iclhocagnonkgoc krgsgs, ;77

klnkcusglns onm plcgkyrbklddbnmotglns, 8;2‛;1

klntoigln abors gn, ;29kurrbnt okklunt gdhoconkbs,

lrgigns la krgsgs gn, 888‛86,

888‛86a, 887t mbht cbvbcs, gnkrbosb gn, =2=mbacotglnory om`ustdbnt

bpgslmbs, onocysgs la,8;?‛;2, 8;8‛;2a, 8;=t 

bxtbrnoc tl mldbstgk mbht rotgl,;7:, ;78

IMZ

mbkldplsgtgln la irlwtfhy slurkbs la oiirbiotbmbdonm, 888, 8;9a 

bxplrt sforb gn, 881a irlwtf gn, 888rotgl la mbht tl IMZ,

88;‛8=, 889sovgnis onm gnvbstdbnts

os pbrkbntoib la,88=‛82

clkoc kurrbnky hlnm ygbcmsalcclwgni iclhoc agnonkgockrgsgs, =::

plcgky kfoccbnibs alr, 8;:‛;?plcgtgkoc bklnldy ospbkts la

krgsgs gn, 887‛;:prgvotb sbktlr krbmgtlrs, ;:7prlmuktgvgty-om`ustbm cohlr

klsts gn, 8;1rbskub pcon gn, 88?, 8;:‛;?sovgnis-gnvbstdbnt iop,

88=‛82sdocc kluntrgbs, mbht

hurmbn gnmgkotlrs gn,8?:, 8??a 

Burlpbon Klddgssgln, =:=Bvgon opprlokf, 822bxgt klnsbnt, 827, 816n82bxplrt vlcudbs

gn bdbrigni dorebt bklnldgbs,;61, ;69a arld Ibrdony, 881t iclhoc agnonkgoc krgsgs

oaabktgni, ?;:a GMO-lncy Oargkon kluntrgbs,

bxtbrnoc mbht hurmbngnmgkotlrs alr. [bb GMO-lncy Oargkon kluntrgbs

bxtbrnoc mbht hurmbn gnmgkotlrs

alr GMO-lncy Oargkon kluntrgbs,?;:‛;8. [bb ocsl GMO-lncyOargkon kluntrgbs

alr sdocc stotbs, 8:1‛?;, 8:9t, 8:6‛?;a 

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=91  gnmbx

A

Aovorl, Bmiorml, xx, 1, ?72, 88?

AKC (acbxghcb krbmgt cgnb), 7, ?78n7,;;9‛;6, ;=:‛=;AMG. [bb alrbgin mgrbkt gnvbstdbntAbmbrotbm [totbs la Dgkrlnbsgo, 8??Abrnïnmbz-Orgos, Bmuorml, xx, 7,

;:2, ;;?, ;;7Abrnïnmbz, Xoqubc, ;:2Abrrukkg, I., 99‛96, 97, 61, 7=Ag`g, 81, 8:?agnonkgoc krgsbs

Oribntgnb (?777‛8::8), 8;?,8;;‛;2, 8;2a, 8=2‛=1

Osgon (?779‛76). [bb Osgonagnonkgoc krgsgs

ovlgmgni. [bb ovlgmgnimbht krgsbs

Hbcgzb (8::1), 8=7‛28, 81?kurrbnky krgsbs klrrbcotgni wgtf

mbht onm honegni krgsbs,8?‛8;, 88a, 8;a, ;8‛;2t 

mbagnbm. [bb mbagngtgln lambht krgsgs

Bkuomlr (8::6), 828‛2;, 81?,81=‛12t 

iclhoc krgsgs (8::6‛:7). [bb iclhoc agnonkgoc krgsgs

Irbnomo (8::=), 82;‛2=, 81?Dbxgkl‗s ]bqugco krgsgs

(?77=‛72), ?82n?,?87, ;12, ;19

Xussgo (?776), ;?, ?82n?,829, ;;6

[bykfbccbs (8::6), 82=‛21, 81?agnonkgoc stohgcgty, 7‛?:, ;29‛6?

klntrghutgln la puhcgk mbht onmmbht donoibdbnt tl,;1?‛1=, ;1;a 

mbht kopgtoc dorebt strukturb,;9=, ;92‛91

mbht stlke onm, ;1=‛12mbht strukturb onm kldplsgtgln,

;12‛98, ;11‛17a, ;9?a mbagngni, ;1:‛1?gnstgtutglnoc ospbkts la, ;9=‛92

gnvbstlr hosb, ;98‛9=cgtbroturb rbvgbw, ;29‛26rgse dgtgiotgln plcgkgbs, ;91‛96,

;99a, ;96t strotbigk rlcb la, 826‛;1:

agnonkgni klnmgtglns, os rgseaoktlr, ?1

agnonkgni alr slvbrbgin mbhttrghunoc, ;81

Aglrodontg, Dorkl, =7Agskoc Xbsplnsghgcgty Cow

(Hrozgc), 86?Agskoc ]ronsporbnky onm

Xbsplnsghgcgty Cow(Klcldhgo), 86:, 86?

Agskoc Yotkf Zrlirod, Lfgl,86?, 868

agxbm-rotb mbht gnstrudbnts,;98, ;69‛66

acbxghcb krbmgt cgnb (AKC), 7, ?78n7,;;9‛;6, ;=:‛=;

aclotgni-rotb mbht gnstrudbnts,;9:, ;98‛9;, ;69,;7;, ;7=a 

alrbgin ogm. [bb laagkgocmbvbclpdbnt ossgstonkb

alrbgin kurrbnkyOustrocgon alrbgin bxkfonib

strotbiy, 816n8=hlnm dorebt sprboms onm

sbcbktgvb mbaouctbpgslmbs, ?8?t 

hlnms, alrbgin-bxkfonibcgnebm, ;9:‛98bdbrigni dorebt bklnldgbs

bxplsbm tl alrbginkurrbnky hlrrlwgni,;66‛7;, ;67‛78a 

clw-gnkldb kluntrgbs,kurrbnky kldplsgtglnla bxtbrnoc mbht gn,=88‛8;, =82a 

dgmmcb-gnkldb kluntrgbs,bxkfonib rotbs onmrbsbrvbs, ?6:, ?6?a 

alrbgin mgrbkt gnvbstdbnt (AMG)gn Grbconm, 889

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gnmbx =99 

gn clw-gnkldb kluntrgbs,=?6, =8?a 

gn dgmmcb-gnkldb kluntrgbs, ?9=,

?7?n8gn sdocc stotbs, ?76, 8:=, 8:9t, 

8?7n?:Alrbgin [lvbrbgin Gddungty Okt

(R.[.), ;:9Aronkb, 88;, 8;:, 89;, 892, 86?‛68arbb rgmgni, ;:6

I

Iohln, 8:7Iodorro, Hlrgs, xx, 1, ?87]fb Iodhgo, 8:, =;n?,

8:?, 8:6IMA  lr Iclhoc Mbvbclpdbnt

Agnonkb (Ylrcm Hone,8::7), 879

IMZ. [bb irlss mldbstgk prlmuktIblrigo, ;?Ibrdony

kurrbnt okklunt hoconkbs onmlrgigns la Burlpbon krgsgs,888, 88;, 881a 

plcgtgkoc bklnldy ospbkts lakrgsgs gn, 8;:

prlmuktgvgty-om`ustbm cohlr klstsgn, 8;1

suhnotglnoc mbht gn, 897Ibrslvgtz, Dore, ?8=

Ifono, 8:, ==:IEL (IlsumorstvbnnybErotelsrlkfnybLhyozotbc‗stvo) mbaouct,Xussgon (?776), ;?,?82n?, 829, ;;6

Iclhoc Moto [lurkb, GDA, 61Iclhoc Mbvbclpdbnt Agnonkb

motohosb, Ylrcm Hone,28, 61

Iclhoc Mbvbclpdbnt Agnonkb lr IMA  (Ylrcm Hone,8::7), 879

Iclhoc Bklnldgk Zrlspbkts 8:?: (Ylrcm Hone), ?6=

iclhoc agnonkgoc krgsgs (8::6‛8::7),xv‛xvg, ?‛;

mbptf onm bxtbnt la, ;8, ;6;,

==7, =2:‛2?bdbrigni dorebt bklnldgbs,

baabkts ln, ?87‛;:,?;:‛;8a, ;6;, ;79‛=:8,;76‛77a, =::‛=:?a 

bvlcutgln la bxtbrnoc mbht murgni,8=1‛=7, 8=9‛=6t, 82:a 

IMZ oaabktbm hy, 8, 8=1‛=7,8=9‛=6t, 82:a 

slvbrbgin mbht gn klntbxt la. [bb 

slvbrbgin mbht gn klntbxtla iclhoc agnonkgoc krgsgs

ungqub aboturbs la, ?82n?iclhoc sflkes tfblry, ?2‛?1, ?6,

87, ;8ING. [bb irlss notglnoc gnkldbilcmbn rucb, 897Illptu, [umorsfon, xx, 1, ?9;Ilsumorstvbnnyb Erotelsrlkfnyb

Lhyozotbc‗stvo (IEL)mbaouct, Xussgon (?776),;?, ?82n?, 829, ;;6

ilvbrnonkb quocgty, os rgse aoktlr, ?2Irbot Hrgtogn. [bb Rngtbm EgnimldIrbot Mbprbssgln, 8, 862, ;79, =:8Irbbkb

kurrbnt okklunt hoconkbs onmlrgigns la Burlpbon krgsgs,888, 88;, 881, 889

BR stgducus pokeoib onm, 88?plcgky kfoccbnibs alr, 8;:‛;?plcgky rbklddbnmotglns

alr, 8;2‛;1rbstrukturgni gssubs bxbdpcgagbm

hy, ;?9, ;2:n?Irbbnspon, Ocon, =2?Irbnomo

onocysgs la mbht krgsgs la 8::=,82;‛2=, 81?

mbht hurmbn gnmgkotlrs gn, 8:7IMZ gn, 82;‛2=fgstlry la mbht krgsbs gn, 8:nlncgnbor krgsgs bvbnts gn, =;n?

Irbnnbs, ]fldos, xx, =, 1;

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=96  gnmbx

Irgaagn, @. D., 61irlss mldbstgk prlmukt (IMZ).

[bb ocsl unmbr spbkgagk

kluntrgbs onm rbiglnsmbacotglnory om`ustdbnt

bpgslmbs, onocysgs la,8;8‛;2, 8;=a, 8;=t, 8;2a 

mbvbclpbm bklnldgbs, mbht tlIMZ rotgl gn, ;1;a 

bdbrigni dorebt bklnldgbs,IMZ rotgls gn, ;1;a, ;6=‛61, ;62a, ;61a 

iclhoc agnonkgoc krgsgs, baabkts la,

8, 8=1‛=7, 8=9‛=6t, 82:a fgstlrgkoc onocysgs os rgse aoktlr,

8=, 89, 86‛87gn GMO-lncy Oargkon kluntrgbs,

?;8, ?;2, ?=:‛=8, ?=;t, ?==, ?29

GDA mbht tl IMZ rotglprbmgktglns, =?;

cbvbcs la gnmbhtbmnbss mbskrghbmgn rbcotglnsfgp tl, =1

gn clw-gnkldb kluntrgbs.[bb unmbr clw-gnkldbkluntrgbs

gn dgmmcb-gnkldb kluntrgbsrotgl la bxtbrnoc mbht tl,

?92‛91, ?91a, ?99a, ?68,?6;a, ?62, ?69, ?66, ?67,818‛1;t 

sclwbm rotb la irlwtf,

?6:‛6?, ?68a LBKM kluntrgbs, IMZ rotgls gn,=22, =18‛1;

prgvotb sbktlr krbmgtlr mbht osrotgl la, 872‛71, 877‛;:?

gn sdocc stotbs. [bb unmbr sdoccstotbs

slvbrbgin hlnm sprbomsklrrbcotbm wgtf rotgl lambht tl, 61, 69a, 66‛67t 

suhnotglnoc mbht os pbrkbntoibla, 89;, 87?n89

tgppgni plgnt alr mbht tl IMZrotgls. [bb tgppgni plgnt gnslvbrbgin mbht

irlss notglnoc gnkldb (ING)kcossgagkotgln la kluntrgbs hy,

?7?n?

cbvbc la gnmbhtbmnbss onm, 28,26, 1:

prgvotb sbktlr krbmgtlr mbhtrotgls, ;:?‛;, ;:?‛2a 

Irlup la 8:, =?;Irlup la 99, 827, 89:n81Iugmbcgnbs alr Zuhcgk Mbht

Donoibdbnt  (YlrcmHone/GDA, 8::;), =81

Iugnbo, ;?

Iugnbo-Hgssou, 87, ?76, 8:?,8:6, 8:7

Iugnbo, Bquotlrgoc, 8:7Iuskgno, O., ;26Iuyono, 8:=, 8:6Iuzzl, Q., 96

F

fogrkuts, 872, 876‛77, 877‛;::a Fodgctln, Ocbxonmbr, 82=Fonsbn, H. B., 1=, 12, 19Fovbr [totgstgks motohosb, 61Fbovgcy Gnmbhtbm Zllr Kluntrgbs

(FGZK) GngtgotgvbKZGO sklrb onm cgebcgfllm la

bcgighgcgty unmbr, =86, ===t MbDZO onm D]M[ onocysgs,

=;:, =;=

fgstlrgkoc onocysgs la slvbrbginmbht krgsbs onm, ?1, ;?prgvotb sbktlr krbmgtlr moto, 871,

876, ;?;n8sdocc stotbs, clw-gnkldb, 8:6‛7

Fbrnïnmbz, Cblnorml, xx, 1, ?87fbtbrlsebmostgkgty-klnsgstbnt

Coironib ductgpcgbr tbst,11, 19, 16, 17

FGZK. [bb Fbovgcy Gnmbhtbm

Zllr Kluntrgbs (FGZK)Gngtgotgvb

fgstlirods, 1;, 1=fgstlrgkoc onocysgs la slvbrbgin mbht

krgsbs, ;‛=, ?2‛==

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gnmbx =97

kotbilrgbs la rgse, 82‛81kcossgagkotgln la kluntrgbs

gntl, 81, ;7‛=;t 

kurrbnt rgse hosbm ln,86‛87, 87t 

mynodgks la rgse kotbilrgbs,82, 81t 

nudhbr la mbaouct onmnln-mbaouct bvbnts, hykotbilry, 82t 

rgse kotbilry mbagngtglns,82t 

kurrbnky, honegni, onm mbht

krgsbs, klrrbcotgln la,8?‛8;, 88a, 8;a, ;8‛;2t 

kurrbnt rgse hosbm ln, 86‛;8,87‛;?t 

motohosb alr (?79:‛8::9), ?1,;1‛;7t 

mbagngtgln la mbht krgsgs alrpurplsbs la, ?1

iclhoc sflkes tfblry, ?2‛?1, ?6,87, ;8

dokrlbklnldgk mbtbrdgnonts,8;‛8=, 8=t 

nbw mbht strbss bvbnts, 8::6‛:7,;?‛;8, ;?t 

nlncgnbor bvbnts, 81, =;n?lnilgni onm nbw krgsbs,

mgstgniugsfgni, ?7‛8?,8:a, 8?a 

rgse aoktlrs, ?2‛?1

sbrgoc mbaouctbr tfblry, ?2, ?9,?6, ;8slurkbs la rgse, 89‛86, 89t, 86t, 

87, ;:t stotgstgkoc prlhohgcgty la

mbht krgsgs, ?9‛?6, ?9a, ?6a, ?7t 

flcmlut krbmgtlrsKOKs onm, 816n82mbht rbstrukturgni prlkbss

oaabktbm hy, 9Irbnomo, onocysgs la mbht krgsgs

gn, 82=GCCX onm, ;==prgvotb sbktlr krbmgtlrs, ;:9‛6

suhnotglnoc mbht, 896, 86;, 869,87:n?:

trghunoc prlplsoc onm, ;?6

Flni Elni [OX, 8;8‛;;Flngoro Kcuh, 8??, 8?7n?=Flrnbr, @lfonnbs, ;??Fluhbn, O., ;1:, ;96flusgni dorebt gn R.[., klccopsb

la, 8=1Funiory

krbmgt os sforb la IMZ gn, ?92mbht donoibrs‗ rbsplnsb tl

iclhoc krgsgs gn, =:8‛;,

=:=, =:2‛1mldbstgk mbht plrtalcgl,

tronsalrdotgln la, ;7;bxtbrnoc mbht rbcotgvb tl IMZ,

8::8‛:9, ?92agskoc rucbs gdpcbdbntbm gn,

?78n;IMZ

bxtbrnoc mbht os pbrkbntoibla, ?68, ?78n2

irlwtf gn, ?6?GDA agskoc klnslcgmotgln pcon,

?6?, =:;‛=gnacotgln toribtgni gn, ?78n;dokrlbklnldgk spokb gn,

?91‛99, ?6=dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs, ?61,?69, ?66

dgmmcb-gnkldb kluntrgbs,gnkcusgln gn stumy la, ?9;slvbrbgin hlnm sprboms gn, ?6:suhnotglnoc mbht gn, 892, 891,

899, 896‛97, 862, 869Furrgkonb Bdgcy, 82=Furrgkonb Gvon, 82;

G

Gonkflvgkfgno, Bcbno, 861GHXM (Gntbrnotglnoc Hone alr

Xbklnstruktgln onmMbvbclpdbnt), ?9=,=;2‛;1

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=6:  gnmbx

GKK (Gntbrnotglnoc Kfodhbr laKlddbrkb), ;8:

Gkbconm

kurrbnt okklunt hoconkb gn, 8:?mbht hurmbn gnmgkotlrs gn, 8?:,

8?7n?;mgsruptgln gn gntbrnotglnoc

kopgtoc aclw onmaunktglngni la agnonkgocsystbd gn, ?71

IMZ irlwtf gn, 8:?gnacotgln-cgnebm hlnms, ;9?pbr kopgto gnkldb gn, ?76

sovgnis-gnvbstdbnt iop, 8:=GK@ (Gntbrnotglnoc Klurt la

 @ustgkb), ;8?GK[GM (Gntbrnotglnoc Kbntrb alr

[bttcbdbnt la GnvbstdbntMgsputbs), ;8?

GMO. [bb GntbrnotglnocMbvbclpdbnt Osslkgotgln

GMO-lncy Oargkon kluntrgbs,1, ?87‛98

om`ustdbnt tl sflkes, ?;2‛;1,?;2t 

klnkbssglnoc lr slat agnonkgni,gdplrtonkb la, ?;8, ?26

kluntrgbs gnkcumbm gn stumy,?9:‛9?n8

mbptf, murotgln, onm sbvbrgtyla sflkes, ?;;‛;2, ?;=t 

mbtbrglrotgln gn bxtbrnoc

mbht hurmbn gnmgkotlrs,?;:‛;8, ?29‛26M[A, usb la, ?;:‛;8, ?;1, ?=8,

?29, ?9:‛9?, ?9:t agskoc plcgky om`ustdbnts tl

ovlgm mbaouct gn, ?;8, ?26aucc sodpcb, mbht hurmbn

gnmgkotlrs alr, ?=:‛=8,?=:‛=;t, ?1=‛17a 

IMZ gn, ?;8, ?;2, ?=:‛=8,

?=;t, ?==, ?29gdpokt la sflkes, dbosurgni, ?;1rgse ossbssdbnts unmbr mgaabrbnt

sflkes onm agnonkgocklnmgtglns, ?=8‛29

ovbroib mbvgotgln hy wfgkfkluntrgbs bxkbbm tfbgrtfrbsflcms, ?=7‛28t 

doxgdud hrbokf hy wfgkfkluntrgbs bxkbbm tfbgrtfrbsflcms, ?2;‛21t 

rgse-rotgni krgtbrgo, ?=;‛==t tltoc nudhbr la bpgslmbs gn

wfgkf kluntrgbs bxkbbmtfbgr tfrbsflcms, ?=2‛=6t 

sgducotgln dbtflmlcliy usbm tlstumy, ?;;‛;1

typgkoc kluntry gn sodpcb, mbht

hurmbn gnmgkotlrs alr,?;1‛=:, ?;9‛;7t, ?27‛1;t 

GCCX. [bb gntbrnotglnoc cbnmgni lacost rbslrt

GDA. [bb Gntbrnotglnoc DlnbtoryAunm

gnmbhtbmnbss. [bb bntrgbs ot mbht Gnmgo

Hfuton, huygni bnbriyarld, 8??

kopgtoc gnaclws, =?1mbht kldplsgtgln onm strukturb

gn, ;98‛9;mbht plrtalcgl gn, ?6=mldbstgk mbht plrtalcgl,

tronsalrdotgln la, ;7;agskoc rucbs gdpcbdbntbm

gn, ?78n;Ibrdon bxplrt iogns gn, 881

dbmgud-tbrd kfoccbnibs onmom`ustdbnt strotbigbs, ?61,?69, ?66

nlncgnbor krgsgs bvbnts gn, =;n?suhnotglnoc mbht gn, 89;, 892,

891, 897‛6:, 87?n89Gnmlnbsgo

kopgtoc gnaclws, =?1mbht donoibrs‗ rbsplnsb tl

iclhoc krgsgs gn, =:8, =:;,

=:=, =:2‛1mbacotglnory om`ustdbnt oatbr

Osgon agnonkgoc krgsgs, 8;;mldbstgk mbht plrtalcgl,

tronsalrdotgln la, ;7;

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gnmbx =6?

BDHGI sprbom, 8::6, ;79bxtbrnoc mbht rbcotgvb tl IMZ,

8::8‛:9, ?92

agskoc rucbs gdpcbdbntbm gn,?78n;

fgstlry la mbaouct, cbsslnscbornbm arld, ?2

gnacotgln toribtgni gn, ?78n;clkoc kurrbnky hlnm ygbcms

alcclwgni iclhoc agnonkgockrgsgs, ;77

dbmgud-tbrd kfoccbnibs onmom`ustdbnt strotbigbs,

?69, ?66gnacotgln

mbacotglnory om`ustdbntbpgslmbs, onocysgs la,8;?‛;2, 8;8‛;2a, 8;=t 

dgmmcb-gnkldb kluntrymbvbclpdbnts, 8::8‛:9,?92, ?78n;

os tgppgni plgnt vorgohcb, 1=, 12gnacotgln-cgnebm mbht gnstrudbnts,

;9?‛98, ;7=‛71, ;72a gnslcvbnky

puhcgk vbrsus prgvotb, 86;‛6=slvbrbgin. [bb slvbrbgin mbaouctsuhnotglnoc mbht gnslcvbnky

dbkfongsds, 868‛66Gnstgtutb la Gntbrnotglnoc

Agnonkb, 879gnstgtutglnoc ospbkts la agnonkgoc

stohgcgty, ;9=‛92gnsuronkbkopgtoc lutaclws, gnsuronkb-cgeb

klntrlcs ln, ;;2klntgnibnt mbht gnstrudbnts,

829‛26sbca-gnsuronkb, 829

Gntbr-Odbrgkon MbvbclpdbntHone, 871

gntbrkrbmgtlr bqugty, trghunoc alr

slvbrbgin mbht, ;8;‛8=Gntbrnoc Xotgnis Hosbm (GXH)

dbtflmlcligbs, ;18Gntbrnotglnoc Hone alr

Xbklnstruktgln onm

Mbvbclpdbnt (GHXM), ?9=,;?;n9, =;2‛;1

Gntbrnotglnoc Kbntrb alr [bttcbdbnt

la Gnvbstdbnt Mgsputbs(GK[GM), ;8?

Gntbrnotglnoc Kfodhbr laKlddbrkb (GKK), ;8:

Gntbrnotglnoc Klurt la @ustgkb(GK@), ;8?

Gntbrnotglnoc MbvbclpdbntOsslkgotgln (GMO)

Oargkon kluntrgbs bcgighcb alrossgstonkb arld. [bb GMO-

lncy Oargkon kluntrgbsMA[ os usbm hy, 816n8:MXA, ;:7, ;?;n9zbrl gntbrbst rotb rgse ln clons

arld, ==2n?8Gntbrnotglnoc Agnonkgoc [totgstgks

motohosb, GDA, 28, 61gntbrnotglnoc cbnmgni la cost rbslrt

(GCCX), 7, ;;?‛2;om`ustdbnt aokgcgty, ;=:‛=?kforoktbrgstgks la abosghcb systbd

la, ;;1mbht-rbstrukturgni aokgcgty,

;=?‛=8bcgighgcgty klnmgtglns, ;;9‛;7gdpcbdbntotgln la, ;=8‛=;cbioc rbalrd tl bdplwbr,

;=;‛=1cgqugmgty aokgcgty, ;;7‛=:

ductgcotbroc mbvbclpdbnt hones,rlcb la, ;=1‛=7prlplsbm gntbirotbm systbd la

cbnmbrs, ;;1‛=;tromgtglnoc cbnmgni la cost rbslrt,

gntbrnotglnoc oppcgkotglnla, ;;8‛;1

Gntbrnotglnoc Dlnbtory Aunm (GDA)KKC, ;=8ln mbht rbstrukturgni, 8=2

mbht tl IMZ rotglprbmgktglns, =?;

mbagngtgln la slvbrbgin mbhtkrgsgs onm, ?1, ;?, =7

M[A omlptbm hy, ?;:‛;8, ?9?

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=68  gnmbx

Gntbrnotglnoc Dlnbtory Aunm (GDA)(klntgnubm )

bdbrigni dorebt bklnldgbs,

ossgstonkb alr, ?6?, =:;‛=Bdbrigni Dorebts Agnonkgoc

[trbss Gnmbx mbvbclpbmhy, 97

AKC, 7, ?78n7, ;;9‛;6, ;=:‛=;acbxghcb krbmgt cgnbs

wgtf, ?78n7Iclhoc Moto [lurkb, 61Iugmbcgnbs alr Zuhcgk Mbht

Donoibdbnt  (8::;), =81

GCCX onm, ;;?, ;;7, ;=7, =2:Gntbrnotglnoc Agnonkgoc [totgstgks

motohosb, 28, 61DMXG. [bb Ductgcotbroc Mbht

Xbcgba GngtgotgvbD]M[, mbvbclpdbnt la, ==2n?,

==2n?:plcgtgkoc bklnldy ospbkts la

krgsgs gn Burlpb, 8;:prgvotb krbmgtlrs, kllrmgnotgln

wgtf, ;?8[MXD, 7, 827, ;8?, ;=?, ;==[bykfbccbs, mbht rbstrukturgni

gn, 822sdocc stotb moto sbt, 8:1trghunoc prlplsoc onm, ;8:, ;8;YBL motohosb, 8?, 28, ?62

gnvbstdbnt-sovgnis iopgn Burlpb, 88=‛82

gn sdocc stotbs, 8:?‛=, 8:2‛9t gnvbstlr hosb klnsgmbrotglns,alr agnonkgoc stohgcgty,;98‛9=

Gron-R.[. kcogds trghunoc, ;?9, ;?7,;8:, ;88

GXH (Gntbrnoc Xotgnis Hosbm)dbtflmlcligbs, ;18

Grbconm, 888, 882‛86, 8;:‛;?,8;2‛;1

 @

 @odogko, ;;?, ;99‛96 @opon, ?78n7, =2=

 @bonnb, L., ;26 @Z Dlrion, 6;, ?78n6`umgkgoc vbrsus omdgngstrotgvb

opprlokfbs tl suhnotglnocgnslcvbnky, 86=‛62

E

Eoebs, @., ;1:, ;96Eoss, X. B., 2=Eozoefston, 87Ebnyo, 8:Efbdong, [tumg, 896

Egrghotg, 8:?, 8??Elbfcbr-Ibgh, Argtzg, xx, =, 1;Elrbo, Xbpuhcgk la, ?78n7, 8;;Erooy, O., ?1, ?7, 22Eruidon, Zouc, ;:9Eudfla, D., ;1:, ;99

C

cohlr klsts, prlmuktgvgty-om`ustbm, 8;1

Cobvbn, C., 8?, 88Coironib ductgpcgbr tbst, 11, 19,

16, 17Col Zblpcb‗s Mbdlkrotgk

Xbpuhcgk (ZMX)kurrbnt rgse aoktlrs gn, 87coke la mbaouct fgstlry gn, 81

Copcokb opprlxgdotglns, 2=

Cotgn Odbrgko onm Korghhbon. [bbocsl Bostbrn KorghhbonKurrbnky Rngln5 spbkgagkkluntrgbs

klrplrotb hlnm dorebtgn, ?:;

mbht hurmbn gnmgkotlrs gn,8:7, 8?:a 

mbht kldplsgtgln onm strukturbgn, ;11‛19a 

mbht tl IMZ rotgls gn, ;61mldbstgk mbht plrtalcgl,

tronsalrdotgln la, ;7=baabkts la iclhoc agnonkgoc krgsgs

gn, =2, =::, =:8

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gnmbx =6;

bxtbrnoc tl mldbstgk mbht rotgl,;7:, ;7?‛7;

prgvotb sbktlr krbmgtlrs, 876,

877, ;::a, ;:8a Cotvgo, ;?Cowsln, Ngibc, 811n2Cowsln-Xlhgkfbe mlktrgnb, 8=1,

811n2Cbhonln, 87cbioc onm bklnldgk ospbkts

la slvbrbgin mbht,8==‛=1

cbioc ilvbrnonkb la prlplsbm

slvbrbgin mbht trghunoc,;8=‛82

cbioc rbalrd tl bdplwbr GCCX,;=;‛=1

Cbfdon Hrltfbrs, klccopsb la,96, ?:6‛7, ;79, =:8, =2?,=21, =1;

cbnmgni la cost rbslrt (CCX). [bb gntbrnotglnoc cbnmgni lacost rbslrt

Cbsltfl, 81, ?76, 8:?, 8:7cbvbc la gnmbhtbmnbss

os hbst prbmgktlr la slvbrbginmbaouct rgse, =1, 1:

IMZ, mbagnbm gn rbcotglnsfgptl, =1

ING, mbagnbm gn rbcotglnsfgptl, 28, 26, 1:

os fgstlrgkoc rgse aoktlr, ?2

cgtbroturb rbvgbw, =1‛=7,=9‛=6t clw mbht vbrsus hom agnonkgni

klnmgtglns, ?1os rlhust mbtbrdgnont la

slvbrbgin mbaouct rgse,2=‛26, 21‛29t 

slvbrbgin hlnm sprbomsklrrbcotbm wgtf, 61, 69a, 66‛67t 

tgppgni plgnt gn. [bb tgppgniplgnt gn slvbrbgin mbht

Cby, B., 2=Cg, Wgni, xx, 1, 88?Cg, Wubabn, xx, 9, 8=;

cgohgcgty donoibdbnt tbkfngqubsgn bdbrigni dorebtbklnldgbs, =:2‛1

Cghbrgo, ;?cgqugmgty aokgcgty, GCCX, ;;7‛=:Cgu, Cgcg, xx, 6, 89;, 897,

861, 866CCX (cbnmgni la cost rbslrt). [bb 

gntbrnotglnoc cbnmgni lacost rbslrt

clkoc kurrbnky gnstrudbnts labdbrigni bklnldgbsalcclwgni iclhoc agnonkgoc

krgsgs, ;77‛=::, =:=‛2Clnmln Kcuh, 8=2, 811n8, ;?9clw-gnkldb kluntrgbs, ?:, =?;‛=9

kopgtoc gnaclws, =?1‛?6,=?6a, =?7a 

kosf donoibdbnt onm kosfhoconkbs gn, =;;

klnkbssglnoc mbht, doxgdgzgni,=88‛82, =8=a 

krbmgtlrs, =8?‛8=, =8;‛8=a kurrbnky kldplsgtgln la bxtbrnoc

mbht gn, =88‛8;, =82a mbht rotgls gn, 818‛1;t mbkrbosb gn alrbgin ogm tl,

=8;‛82, =81a MbDZO tllc, prlhcbd orbos

gmbntgagbm hy, =?2, =?1,=86‛;;, =87‛;:a, =;?‛;8t, ==8‛=;a 

baabktgvb mbht donoibdbnt gn,=?7‛81, =8;‛81a, =89t baabkts la iclhoc agnonkgoc krgsgs

ln, ?7?n8, =?;‛?7bxtbrnoc vbrsus mldbstgk mbht,

onocysgs la, =82‛81, =89t AMG gn, =?6, =8?a alrbgin hone cbnmgni, mbkcgnb gn,

=?9‛?6, =8?a IMZ gn

mbht tl IMZ rotgls, 818‛1;t, =;9‛;6

irlwtf prl`bktglns, =?1, =?9a prl`bktbm agnonkgni nbbms os

sforb la, =?1, =8:a 

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=6=  gnmbx

clw-gnkldb kluntrgbs (klntgnubm )GMO-lncy Oargkon kluntrgbs,

baabkts la iclhoc agnonkgoc

krgsgs ln. [bb GMO-lncyOargkon kluntrgbs

dbosurbdbnt la mbhtdonoibdbnt pbralrdonkbgn, =?2, =81‛86, ===a 

D]M[ tllc, rbsucts la, =?2, =?1,=;;‛;7, =;2t, =;1a, =;7t 

nln-klnkbssglnoc hlrrlwgni,pbrgcs la, =;7‛=:, ==?a 

lvbrhlrrlwgni, ovlgmonkb la,

821‛29pltbntgoc alr nbw slvbrbgin mbht

krgsgs gn, =?=a prgvotb sbktlr krbmgtlrs onm,

876‛77, 877a, ;::‛;:?,;:?a, ;:7, ;?8

rbklrmebbpgni onm rbplrtgnimbagkgbnkgbs gn, =;;

rbiucotlry onm plcgkybnvgrlndbntgdprlvbdbnts, os rbdbmyalr, =?6‛?7

rbdgttonkbs, mbkcgnb gn,=?6, =88a 

sdocc stotbs, 8:6‛7tgppgni plgnt gn, 1=

Cuxbdhluri, 888

D

dokrlbklnldgk mbtbrdgnonts lambht krgsbs

bdbrigni dorebt bklnldgbs,dokrlbklnldgkaunmodbntocs gn, ;6;,;6=‛66, ;62a, ;61a, ;69a 

fgstlrgkoc onocysgs la, 8;‛8=, 8=t gn dgmmcb-gnkldb kluntrgbs.

[bb unmbr dgmmcb-gnkldb

kluntrgbsslvbrbgin hlnm sprboms,

68, 7=do`lrgty oktgln kcousbs, 816n82Docoysgo, 81, ?69, ?66, 8;;, ;7;

Docmgvbskurrbnt okklunt hoconkb gn, 8:?mbht hurmbn gnmgkotlrs gn,

8??‛?;, 8?8a IMZ irlwtf gn, 8:?gntbrnotglnoc tromb plcgky gn, ?76nbw mbht strbss bvbnts,

8::6‛:7, ;?sovgnis-gnvbstdbnt iop, 8:?, 8:=

Docto, 8?:donoibdbnt la puhcgk mbht, 7‛??,

;29‛1:. [bb ocsl agnonkgocstohgcgty

Donossb, Z., =7D&O (dbribr onm okqugsgtgln)

mbocs, krlss-hlrmbr,?:;, ?:9

Dorelv Kfogn Dlntb Korcl DlmbcKldplsgtgln (DK;), 2=‛22

Dorsfocc Gsconms, 8:?, 8??Dossln, Z. X., 96, 61Dourgtongo, 87Dourgtgus, ?76, 8:?, 8:7DK; (Dorelv Kfogn Dlntb Korcl

Dlmbc Kldplsgtgln),2=‛22

DMXG. [bb Ductgcotbroc Mbht XbcgbaGngtgotgvb

dbmgotgln, ;81Dbmgud ]brd Mbht Donoibdbnt

[trotbiy (D]M[) tllc,=?2, =?1, =;;‛;7, =;2t, 

=;1a, =;7t dbribr onm okqugsgtgln (D&O)mbocs, krlss-hlrmbr,?:;, ?:9

Dbrtln, X., 81, ?:7Dbxgkl

mbht kldplsgtgln onm strukturbgn, ;12, ;19‛9:, ;16a 

mbht donoibrs‗ rbsplnsb tliclhoc krgsgs gn, =:8,

=:=, =:2‛1mldbstgk mbht plrtalcgl,

tronsalrdotgln la, ;7;bxtbrnoc mbht gssuonkb alcclwgni

iclhoc agnonkgoc krgsgs, ;79

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gnmbx =62

AKC, ;=8agskoc rucbs gdpcbdbntbm gn,

?78n;

alrbgin kurrbnky hlrrlwgni, ;66IMZ irlwtf gn, ?6?, ?78n1fgstlry la mbaouct, cbsslns

cbornbm arld, ?2GDA acbxghcb krbmgt cgnb, ?78n7gnacotgln-cgnebm hlnms, ;9?gnacotgln toribtgni gn, ?78n;gnsuronkb oiognst mbht

krgsbs, 826dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs,?69, ?66

suhnotglnoc mbht gn, 89=‛91,86?, 87:n7

]bqugco krgsgs (?77=‛72), ?82n?,?87, ;12, ;19

DAK (dlst aovlrbm krbmgtlr)kcousbs, ;?;n1

Dgkrlnbsgo, Abmbrotbm [totbs la, 8??Dgmmcb Bost onm Nlrtf Oargko. [bb

ocsl spbkgagk kluntrgbsklrplrotb hlnm dorebt gn, ?:;prgvotb sbktlr krbmgtlrs, 877,

;::a, ;:?, ;:8a dgmmcb-gnkldb kluntrgbs, 1,

?9;‛7;. [bb ocsl bdbrignidorebt bklnldgbs

kluntrgbs gnkcumbm gn stumy,kotbilrgzbm hy gnkldb

cbvbc, ?9;‛9=, ?9=t mbht rotgls gn clw- onm clwbr-dgmmcb-gnkldb kluntrgbs,818‛1;t 

baabkts la iclhoc agnonkgoc krgsgsln, ?99‛6?, =?=

AMG gn, ?9=, ?7?n8alrbgin kurrbnky bxkfonib

rotbs onm rbsbrvbs,?6:, ?6?a 

IMZ gnrotgl la bxtbrnoc mbht tl,

?92‛91, ?91a, ?99a, ?68,?6;a, ?62, ?69, ?66, ?67,818‛1;t 

sclwbm rotb la irlwtf,?6:‛6?, ?68a 

iclhoc onm kluntry-spbkgagk

mbvbclpdbnts, 8::8‛:9,?9=‛99, ?91a 

gngtgoc agskoc rbsplnsb tl iclhocagnonkgoc krgsgs (up tl8::7), ?6?‛6=, ?6;a, ?62a 

dokrlbklnldgk spokb gn8::8‛:9, ?92‛91, ?91a, 

?96‛97h, ?6:a 8::9‛:7, ?68‛6=, ?62a aogcurb tl strbnitfbn, ;61‛69

dbmgud-tbrd kfoccbnibs onmom`ustdbnt strotbigbs,?6=‛7:

hosbcgnb skbnorgl (fgstlrgkocvocubs), ?62, ?61

skbnorgl ? (8:8: mbht toribt),?62‛69, ?66‛7:a 

skbnorgl 8 (prlclnibm agskocbxponsgln tl 8:?8), ?61,?69‛66, ?67a 

skbnorgl ; (iromuoc agskocom`ustdbnt), ?61,?67‛7:, ?7:a 

plcgky rbklddbnmotglns,?7:‛7?

prgvotb sbktlr krbmgtlrs,876‛77, 877a, ;::‛;:?,;:?a 

sdocc stotbs, 8:7

slvbrbgin hlnm sprboms gn, ?92,?6:, ?6?a Dgcgvl`bvg½k, Dorel, ;:1Dlmy, O., 96, 76Dlnilcgo, ;?Dlrogs, Hbrnorml, 876dlroc fozorm

klntgnibnt mbht gnstrudbnts,816n88

GCCX onm, ;;=, ;;2

suhnotglnoc mbht onm, 899, 86;,86=, 87?n88

Dlrlkkl, =:=dlst aovlrbm krbmgtlr (DAK)

kcousbs, ;?;n1

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=61  gnmbx

D]M[ (Dbmgud ]brd MbhtDonoibdbnt [trotbiy)tllc, =?2, =?1, =;;‛;7,

=;2t, =;1a, =;7t Ductgcotbroc Mbht Xbcgba Gngtgotgvb

(DMXG)clw-gnkldb kluntrgbs, MbDZO

onm D]M[ onocysgs la,=?2, =86, =;;

prgvotb sbktlr krbmgtlrs onm, 871sdocc stotbs, 8:6

ductgcotbroc mbvbclpdbnt hones onmGCCX, ;=1‛=7

Dungkgpoc Ossgstonkb Klrplrotglnonm Nbw Wlre Kgtyhoneruptky la ?792, 861

Dungkgpoc Agnonkb DonoibdbntOkt ([lutf Oargko),896, 861

Dyondor, ==:

N

Noatlioz, ?82n8Noioro`on, Dlfon, 861Nbfru, Q., ?1, ?7, 22Nbpoc, 81Nbtfbrconms, 888, ;8?Nbw Wlre Kgty honeruptky la

?792, 862, 861NILs (nlnilvbrndbntoc

lriongzotglns), orhgtrotgln

prlplsocs hy, ;8:Ngkoroiuo, 17‛98Ngibr, 87Ngibrgo

ovbroib agskoc onm prgdoryhoconkbs, 8::8‛:9, ?92

bxtbrnoc mbht rbcotgvb tl IMZ,8::8‛:9, ?92, ?78n=,?78n1

agskoc rucbs gdpcbdbntbm gn,

?78n;dokrlbklnldgk spokb gn,

?91, ?6=dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs,?61, ?69

prgvotb sbktlr krbmgtlrs,;:?‛8, ;:;a 

nlnilvbrndbntoc lriongzotglns

(NILs), orhgtrotglnprlplsocs hy, ;8:

nlncgnbor bvbnts, 81, =;n?Nlrtf Oargko. [bb Dgmmcb Bost onm

Nlrtf Oargko5 spbkgagkkluntrgbs

Nlrwoy, ;8?

L

L‗Hlycb, Ygccgod, xx, 1, ?:,?72, =?;

LMO. [bb laagkgoc mbvbclpdbntossgstonkb

lmglus mbht, klnkbpt la, ;?6LBKM. [bb Lriongsotgln alr

Bklnldgk Kl-lpbrotglnonm Mbvbclpdbnt (LBKM)kluntrgbs

laagkgoc mbvbclpdbnt ossgstonkb(LMO)

klnkbssglnoc mbht, clw-gnkldbkluntrgbs doxgdgzgni,=88‛82, =8=a 

mbkrbosb gn ogm tl clw-gnkldbkluntrgbs, =8;‛82, =81a 

iclhoc agnonkgoc krgsgs, baabktsla, ?;:

Lfgl, Agskoc Yotkf Zrlirod gn,

86?, 868, 862Lcgvorbs-Kodgnoc, Xlmrgil, xx,9, 8=;

Lriongsotgln alr BklnldgkKl-lpbrotgln onmMbvbclpdbnt (LBKM)kluntrgbs, ?:‛??, ==7‛12

okkluntohgcgty onm tronsporbnky,klddgtdbnt tl, =18

hlrrlwgni strotbigbs, kfonibs gn,

=29‛26, =26‛27a humibt mbagkgts, gnkrbosb gn,

=28‛2;, =2;a –krlwmgni lut,— =2;‛2=mbht cbvbcs onm gntbrbst poydbnts,

=2=‛22, =2=‛29a 

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gnmbx =69 

baabkts la iclhoc agnonkgoc krgsgsln, ==7‛22

bxgt strotbigbs, =22‛29

IMZ rotgls, =22, =18‛1;gnkrbosbm hlrrlwgni nbbms,

rbsplnsb tl, =27‛18,=1:‛1?t 

gssuonkb klnmgtglns onm dorebtohslrptgln prlhcbds, =2;,=27‛18, =1:‛1?t 

rbsplnsb tl iclhoc agnonkgockrgsgs gn, =22‛18

sflrt tbrd ilvbrndbnt

gssuonkbs, gnkrbosb gn,=2?‛28, =28a 

lrgignoc sgn fypltfbsgs, ;7:lvbrhlrrlwgni, ovlgmonkb

la, 821‛29

Z

Zokgagk rbigln. [bb Bost Osgo onmZokgagk rbigln

 pokto sunt sbrvonmo, 87?n?7Zomlu, @. @., 96, 61Zoegston, ;?, ;8, ?78n;Zocou, 8??Zongzzo, Ril, xx, 9, 8:1, 8=;Zopoglonnlu, Dgkfobc I., xx, 2, 7,

99, ;29Zopuo Nbw Iugnbo, 81Zoroiuoy, 28

Zorgs Kcuhmbht rbstrukturgni, rlcb gn, ;?9fgstlrgkoc onocysgs la slvbrbgin

mbht krgsbs onm, ?1, ;?Ngibrgon oirbbdbnt wgtf, ?78n=prgvotb sbktlr krbmgtlrs onm,

876, ;:7, ;?;n8[bykfbccbs mbht krgsgs onm, 822

Zoucus, Kfrgstlpf I., xxg, 6, ;?9Zbmros, Iugcfbrdb, xxg, 7, ;29

Zbrry, Dltty, ;??Zbru

mbht donoibrs‗ rbsplnsbtl iclhoc krgsgs gn, =:8,=:;, =:2

Bccgltt Osslkgotbs v. Zbru, ;:9

agskoc rucbs onm gnacotglntoribtgni gn, ?78n;

dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs, ?61,?69, ?66, ?7;n?=

suhnotglnoc mbht gn, 892,897, 86:

Zbsoron, D. F., 61Zbtrlvo, Gvo, xxg, 2, 99Zfgcgppgnbs

mbacotglnory om`ustdbnt oatbrOsgon agnonkgoc krgsgs, 8;;

bxtbrnoc mbht

gssuonkb alcclwgni iclhocagnonkgoc krgsgs, ;79

rbcotgvb tl IMZ, 8::8‛:9,?92

alrbgin bxkfonib rbsbrvbs, ?6:gnacotgln toribtgni gn, ?78n;dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs,?69, ?66

ZGZ (plstbrglr gnkcusglnprlhohgcgty), 2=‛22

Zgtkfalrm, Xlfon, 876, ;:6ZDI (pllcbm dbon irlup)

bstgdotgln, 61, 7?‛7=,72‛79t 

Zlconmmbht donoibrs‗ rbsplnsb

tl iclhoc krgsgs gn, =:=,=:2, =:1

mldbstgk mbht plrtalcgl,tronsalrdotgln la, ;7;bxtbrnoc mbht rbcotgvb tl IMZ,

8::8‛:9, ?92AKC, ;=8agskoc rucbs gdpcbdbntbm gn,

?78n;IMZ, bxtbrnoc mbht os pbrkbntoib

la, ?68GDA acbxghcb krbmgt cgnb, ?78n7

gnacotgln toribtgni gn, ?78n;dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs,?69, ?66

plcgtgkoc bklnldy ospbkts la krgsgsgn Burlpb, 887‛;:

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=66  gnmbx

Zlclngus, Fodcbt  ([foebspborb), ??pllcbm dbon irlup (ZDI)

bstgdotgln, 61, 7?‛7=,

72‛79t Zlrtuioc, 888‛8=, 881, 889,

8;:‛;?, 8;2‛;1plstbrglr gnkcusgln prlhohgcgty

(ZGZ), 2=‛22pltbntgoc bnmlibnbgty gn kockucotgni

tgppgni plgnt, 19Zlvbrty Xbmuktgln onm Irlwtf

Aokgcgty (ZXIA)kluntrgbs, =;:

Zlwbcc, O., ;;7ZZZ (purkfosgni plwbr porgty) la

sdocc stotbs, ?71‛76Zrombccg, @uon, xxg, 1, 88?Zrosom, Ohfo, xxg, ?:, =?;ZXIA (Zlvbrty Xbmuktgln

onm Irlwtf Aokgcgty)kluntrgbs, =;:

Zrgdl Hroio, Korcls O., xxg, ?prgnkgpcbs alr rbsplnsghcb slvbrbgin

cbnmgni onm hlrrlwgni,827‛1:

prgvotb kopgtoc aclws tl mbvbclpgnikluntrgbs, baabkt laiclhoc agnonkgoc krgsgs ln,?;:, ?;?a 

prgvotb sbktlr krbmgtlrs, 6, 872‛;?2huyhokes, ;:7moto sbt alr, 871‛76

mbcoys gn mbht rbstrukturgnis, 872,876, 877‛;::a, ;?:‛?8IMZ rotgls, 872‛71, 877‛;:?ING rotgls, ;:?‛;, ;:?‛2a fogrkuts, 872, 876‛77, 877‛;::a gnmbhtbmnbss cbvbcs, 872‛71,

877‛;:;, ;:?‛2a tfblrbtgkoc bxpconotglns onm

plcgky suiibstglns, ;:;‛?8mbcoys wgtf kllrmgnotbm

mbhtlrs onm krbmgtlrs,;?:‛?8

bnfonkbm kllrmgnotglnhbtwbbn laagkgoc onmprgvotb sbktlrs, ;?8

unkllrmgnotbm krbmgtlrs,rbstrukturgni nbiltgotglnswgtf, ;:1‛7

unkllrmgnotbm mbhtlrs,rbstrukturgni nbiltgotglnswgtf, ;:7‛?:

prgvotb sbktlr mbhtklrplrotb hlnms. [bb klrplrotb

hlnm ygbcm sprbomsbvlcutgln la bxtbrnoc

mbht murgni iclhocagnonkgoc krgsgs, 8=1‛=7,8=9‛=6t, 82:a 

puhcgk krgsbs rbsuctgni arld, 829puhcgk vbrsus prgvotb honeruptky,

86;‛6=prlmuktgvgty-om`ustbm cohlr

klsts, 8;1prumbntgoc klnmgtglnocgty,

GCCX, ;;9puhcgk vbrsus prgvotb honeruptky,

86;‛6=purkfosgni plwbr porgty (ZZZ) la

sdocc stotbs, ?71‛76

_

_uortbrcy Bxtbrnoc Mbht [totgstgks(_BM[), Ylrcm Hone,8=1‛=7, 8=9‛=6t 

X

Xoatbry, O. B., 2=Xbhukkg, O., ;;7rbklrmebbpgni onm rbplrtgni

mbagkgbnkgbs gn clw-gnkldbkluntrgbs, =;;

rbiucotgln la suhnotglnoc mbht. [bb suhnotglnoc mbht

Xbgnfort, K. D., 22, 1;, 12, 98,;26, =1;

rbdgttonkbstl mbvbclpgni kluntrgbs, ?;:, ?;8a tl clw-gnkldb kluntrgbs,

=?6, =88a tl sdocc kluntrgbs, ?76

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=7:  gnmbx

sbrgoc mbaouctbr tfblry, ?2, ?9,?6, ;8

[bykfbccbs

onocysgs la mbht krgsgs la 8::6,82=‛21, 81?

mbht hurmbn gnmgkotlrs gn, 8:7IMZ gn, 8:?, 82=‛22nbw mbht strbss bvbnts,

8::6‛:7, ;?prgvotb sbktlr krbmgtlrs,

;:8, ;:=a sovgnis-gnvbstdbnt iop,

8:?, 8:=

[forgo-kldpcgont sueue dorebt gnstrudbnts,Gnmlnbsgo, =:=

[fgn, W., 61sflrt-tbrd mbht gnstrudbnts, ;9:,

;98, =2?‛28, =28a [gbrro Cblnb, ;:8‛;, ;:2a [gcvo, Onmbrsln Koputl, xxg,

?:, ;6;[gnioplrb, 8;8‛;;[ebbc, M., ;==sdocc stotbs, 1, ?72‛88:

kforoktbrgstgks la, ?71‛76klnkcusglns onm plcgky

rbklddbnmotglns alr,8?;‛?2

kurrbnt okklunt hoconkb gn, 8:?,8:8‛=t, 8?2‛?6t 

moto sbt, 8:1, 8?2‛?6t 

mbht hurmbn gnmgkotlrs alr,8:1‛?;, 8:9t, 8:6‛?;a mbht rbcgba alr, 8:6mbagnbm, ?72AMG gn, ?76, 8:=, 8:9t, 8?7n?:IMZ

mbht tl IMZ rotgl, ?71,8:6‛?;a, 8:6‛?=

bxtbrnoc mbdonm,mgsprlplrtglnotb baabkts

la, ?71AMG onm rbdgttonkbs os

pbrkbntoib la, ?76irlwtf rotbs, 8::;‛:7,

?76‛8:?, ?77‛8::t, 8:=t 

lvbrocc baabkts la iclhocagnonkgoc krgsgs ln, ?72

clw-gnkldb kluntrgbs, FGZK

alr, 8:6‛7dgmmcb-gnkldb kluntrgbs, 8:7ZZZ, ?71‛76sovgnis-gnvbstdbnt iop, 8:?‛=,

8:2‛9t [dgtf, X., 61[dgtf, X. Z., 61slat humibt klnstrognts onm

suhnotglnoc mbht,891‛96, 899h

slat cow, ;?6slat lr klnkbssglnoc agnonkgni,

?;8, ?26[lcldln Gsconms, 87, 8:6, 8??slurkbs la rgse, fgstlrgkoc onocysgs

la, 89‛86, 89t, 86t [lutf Oargko

mbht donoibrs‗ rbsplnsb tliclhoc krgsgs gn, =:2

alrbgin bxkfonib rbsbrvbs, ?6:alrbgin gnvbstlr sbcclaa gn, =:=gnacotgln-cgnebm mbht

gnstrudbnts, ;71gnacotgln toribtgni gn, ?78n;dbmgud-tbrd kfoccbnibs

onm om`ustdbntstrotbigbs, ?69

suhnotglnoc mbht gn, 896, 897,862, 861, 869, 87:n?8

[lutf Odbrgko. [bb Cotgn Odbrgkoonm Korghhbon5 spbkgagkkluntrgbs

[lutf Osgo. [bb ocsl spbkgagkkluntrgbs

klrplrotb hlnm dorebt gn, ?:;mbht hurmbn gnmgkotlrs gn,

8??‛?;, 8?8a prgvotb sbktlr krbmgtlrs, ;::a, 

;:?, ;:8a 

[lutfbrn Oargkon Kustlds Rngln([OKR), 8:7

slvbrbgin hlnm sprboms, 2, 99‛?::kocghrotgln onm dlmbc

bstgdotgln, 61‛7:

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gnmbx =7?

klrrbcotgln wgtf rotgl la mbht tlIMZ, 61, 69a, 66‛67t 

moto sbt, 6;‛61, 6=‛62t 

mbtbrdgnonts la klrplrotb onmslvbrbgin hlnm sprbomskldporbm, ??;‛8:,??2‛?7t 

bdbrigni dorebt bklnldgbs,baabkts la iclhoc agnonkgockrgsgs ln, ;79, ;76a 

Bdbrigni Dorebts Agnonkgoc[trbss Gnmbx, gnklrplrotglnla, 97, 6;, 7?, 7=, 76

agxbm-baabkts dlmbc, 7?, 78‛7;t cgtbroturb rbvgbw, 99‛97dokrlbklnldgk vorgohcbs,

68, 7=gn dgmmcb-gnkldb kluntrgbs, ?92,

?6:, ?6?a ZDI bstgdotgln, 61, 7?‛7=,

72‛79t rbsucts la stumy, 7=, 76spgcclvbr gdpokts arld

slvbrbgin tl klrplrotbsbktlr, ?8:‛8?, ?8?‛8;t 

tfblrbtgkoc onm dbtflmlcligkocarodbwlre alr stumygni,97‛6?

R.[. fgif-ygbcm hlnm ossbt kcoss,kldporbm tl, ?:6

vorgohcbs usbm, 68‛6;, 76n8slvbrbgin mbht gn klntbxt la

iclhoc agnonkgoc krgsgs,xv‛xvg, ?‛?8ovlgmgni krgsbs, 9‛6, 8=;‛9?.

[bb ocsl ovlgmgni mbhtkrgsbs

hlnm sprbomsklrplrotb, 2, ?:?‛81. [bb

ocsl klrplrotb hlnm ygbcmsprboms

slvbrbgin, 2, 99‛?::. [bb

ocsl slvbrbgin hlnmsprboms

mbht rbstrukturgni dbkfongsds,9‛7. [bb ocsl mbhtrbstrukturgni dbkfongsds

mbtbrdgnonts la slvbrbginmbaouct rgse, =, =2‛18.[bb ocsl mbtbrdgnonts la

slvbrbgin mbaouct rgsebklnldgk ospbkts la, 8==‛=1bdbrigni dorebt bklnldgbs,

?:, ;6;‛=??. [bbocsl bdbrigni dorebtbklnldgbs

gn Burlpb, 1‛9, 88?‛;7. [bb ocsl Burlpb/Burlpbon Rngln(BR)/Burl Orbo

agnonkgoc stohgcgty, rlcb la, 7‛?:,

;29‛6?. [bb ocsl agnonkgocstohgcgty

fgstlrgkoc onocysgs, ;‛=, ?2‛==.[bb ocsl fgstlrgkoconocysgs la slvbrbgin mbhtkrgsbs

gn GMO-lncy Oargkon kluntrgbs,1, ?87‛98. [bb ocsl GMO-lncy Oargkonkluntrgbs

GCCX, 7, ;;?‛2;. [bb ocsl gntbrnotglnoc cbnmgni lacost rbslrt

gdpcgkotglns la krgsgs alragnonkgoc plsgtglns lambvbclpgni onmbdbrigni dorebtkluntrgbs, 2‛9

cbioc ospbkts la, 8==‛=1

gn clw-gnkldb kluntrgbs, ?:,=?;‛=9. [bb ocsl clw-gnkldb kluntrgbs

donoibdbnt gssubs, 7‛??,;29‛1:. [bb ocsl bdbrignidorebt bklnldgbs5agnonkgoc stohgcgty5clw-gnkldb kluntrgbs5Lriongsotgln alrBklnldgk Kl-lpbrotgln

onm Mbvbclpdbnt (LBKM)kluntrgbs

gn dgmmcb-gnkldb kluntrgbs, 1,?9;‛7;. [bb ocsl dgmmcb-gnkldb kluntrgbs

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=78  gnmbx

slvbrbgin mbht gn klntbxt laiclhoc agnonkgoc krgsgs(klntgnubm )

gn LBKM kluntrgbs, ?:‛??,==7‛12. [bb ocsl Lriongsotgln alrBklnldgk Kl-lpbrotglnonm Mbvbclpdbnt (LBKM)kluntrgbs

prgnkgpcbs alr rbsplnsghcbslvbrbgin cbnmgni onmhlrrlwgni, 827‛1:

prgvotb sbktlr krbmgtlrs, 6,

872‛;?2. [bb ocsl prgvotbsbktlr krbmgtlrs

rbcotglnsfgp hbtwbbn agnonkgockrgsgs onm slvbrbgin mbhtkrgsbs, ;‛2

gn sdocc stotbs, 1, ?72‛88:. [bbocsl sdocc stotbs

suhnotglnoc mbht, 6, 89;‛7;. [bbocsl suhnotglnoc mbht

tgppgni plgnt, =‛2, 1;‛92. [bbocsl tgppgni plgnt gnslvbrbgin mbht

trghunoc, 6‛7, ;?9‛87.[bb ocsl trghunoc alrslvbrbgin mbht

[lvbrbgin Mbht-XbstrukturgniDbkfongsd ([MXD), 7,827, ;8?, ;=?, ;==

slvbrbgin mbaouct

ovlgmgni. [bb ovlgmgni mbhtkrgsbskosb stumy onocysbs, 8=7‛21,

81?, 81=‛12t fgstlrgkoc mbaouct onm

nln-mbaouct bvbnts, hykotbilry, 82t 

rbpbrkussglns la, 8==‛=1rgse la 

kousbs la. [bb mbtbrdgnonts la

slvbrbgin mbaouct rgseklrplrotb hlnm ygbcm

sprboms gn bdbrignidorebts, rbcotglnsfgptl, ?:6‛7

fgstlrgkoc onocysgs la. [bb fgstlrgkoc onocysgs laslvbrbgin mbht krgsbs

sbrgoc mbaouctbr tfblry, ?2, ?9,?6, ;8

suhnotglnoc mbht gnslcvbnkydbkfongsds, 868‛66

slvbrbgin systbdotgk rgse ([[X), ?8?[pogn, 888, 882‛89, 8;:‛;?,

8;2‛;1spcgnb aunktglns, 1=[rg Coneo, ;?, ;8, ;79, ;77[[X (slvbrbgin systbdotgk rgse), ?8?

[t. Egtts onm Nbvgs, 8:7[tonmorm & Zllr‗s

mbaouct bpgslmb moto mrownarld, =7

prgvotb sbktlr krbmgtlr moto, 879,876

sbcbktgvb mbaouct moto toebnarld, ?8?

stonmgni orhgtroc trghunoc alrslvbrbgin mbht. [bb trghunoc alr slvbrbgin mbht

[tbbc, D. A., 2=stlke la puhcgk mbht, ;1=‛12strotbigk rlcb la agnonkgoc stohgcgty

gn mbht donoibdbnt,826‛;1:

strukturb onm kldplsgtgln la mbht,;12‛98, ;11‛17a, ;9?a 

[tuˁ keo, ]gfldgr, xxg, 1, ?72

[uh-[oforon Oargko. [bb ocsl GMO-lncy Oargkonkluntrgbs5 spbkgagkkluntrgbs

kopgtoc aclws alcclwgni iclhocagnonkgoc krgsgs, ;77

KAO aronk zlnb, mbacotglnoryom`ustdbnt gn, 8;?‛;8,8;=a, 8;2

mbht tl IMZ rotgls gn, ;6=

prgvotb sbktlr krbmgtlrs, 872‛71,876, 877, ;::a, ;:?‛;,;:8a, ;?8

sdocc stotbs, mbht hurmbngnmgkotlrs gn, 8:7, 8?:a 

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gnmbx =7;

suhnotglnoc mbht, 6, 89;‛7;krgsbs gn, 892‛91mbagngtgln la suhnotglnoc, 867n?

mbvbclpgni rbiucotlryarodbwlres alr, 896‛97

bx ontb rbiucotlry arodbwlresonm agskoc rucbs alr,897‛68, 86:y

IMZ, os pbrkbntoib la, 89;,87?n89

flcmlut krbmgtlrs, 896, 86;,869, 87:n?:

gdplrtonkb la rbiucotgni,

892‛97gnslcvbnky dbkfongsds, 868‛66`umgkgoc vbrsus omdgngstrotgvb

opprlokfbs tl, 86=‛62puhcgk noturb la, 86;‛6=slat humibt klnstrognts onm,

891‛96, 899htronsporbnky rbqugrbdbnts,

86:‛6?sueue dorebt gnstrudbnts,

[forgo-kldpcgont,Gnmlnbsgo, =:=

[urg, Qgvbe, xxg, 1, ?9;[urgnodb, 8:?, 8:=[urtg, @oy, xxg, 7, ;29sustognohgcgty la mbht. [bb mbht

donoibdbnt5 Mbht[ustognohgcgty Arodbwlre(M[A) onm Mbht

[ustognohgcgty Onocysbs(M[Os)[wozgconm, 8:7

]

]ogwon, Kfgno, 8;8‛;;]onnbr, B., ;1:, ;99]OXZ (]rluhcbm Ossbt Xbcgba

Zrlirod), =2?

?:tf Odbnmdbnt tl R.[.Klnstgtutgln, 861

]bqugco krgsgs la ?77=‛72, Dbxgkl,?82n?, ?87, ;12, ;19

]bslhlnbs, ;12

]fogconmkrgsgs la cotb ?77:s gn, ?9, ?82n?mbacotglnory om`ustdbnt oatbr

Osgon agnonkgoc krgsgs, 8;;fgstlry la mbaouct, cbsslns

cbornbm arld, ?2gnacotgln toribtgni gn, ?78n;dokrlbklnldgk spokb gn, ?6=,

?78n?;tfrbsflcm bstgdotgln tbkfngqubs,

1=, 12‛19]gdlr-Cbstb, 8:?tgppgni plgnt gn slvbrbgin mbht,

=‛2, 1;‛92kldporgsln la rbsucts wgtf

Xbgnfort onm Xlilaa, 98t kluntrgbs klvbrbm, hy bklnldgk

typb, 9;‛9=t kluntry gnkldb plssghcy

oaabktgni, 1=moto sbt alr, 1=‛12, 12t mbvbclpbm vbrsus mbvbclpgni

bklnldgbs, 16‛17, 9:t bklnldgk/irlwtf klsts la

possgni, 1=, 19, 17‛98,9:‛9?t 

gnacotgln oaabktgni, 1=, 12gngtgoc IMZ klntrlc vorgohcb, 12,

16, 17t cgtbroturb rbvgbw, 1;‛1=clni-run ovbroib mbht, alkus

ln, 19

pltbntgoc bnmlibnbgty, 19tfrbsflcm bstgdotgln tbkfngqubsonm dbtflmlcliy usbm gn,1=, 12‛19

tfrbsflcm cbvbc rbsucts, 19‛98,16‛98t 

tromb cghbrocgsd os klntrlcvorgohcb, 12

]lil, ;?]lil, Brgel, xxg, ?:, =?;

]ldz, Dgkfobc, 879‛76]lnio, 8:?, 8:=, 8??tromb cghbrocgsd

slvbrbgin hlnm sprboms onm, 7=os tgppgni plgnt vorgohcb, 12

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=7=  gnmbx

tromb sonktglns onm slvbrbginmbaouct, 8==

tronsporbnky. [bb okkluntohgcgty

onm tronsporbnkytrghunoc alr slvbrbgin mbht, 6‛7,

;?9‛87omvontoibs la, ;8:hgnmgni noturb la mbkgsglns,

;8;‛8=klnkbpt la, ;?7‛8:krbotgln onm kldplsgtgln la,

;8:‛88mbagkgbnkgbs la kurrbnt om flk

systbd, ;?9‛?7agnonkgni onm supplrt alr, ;81ilvbrngni cow, ;8=‛82gntbrkrbmgtlr bqugty gn, ;8;‛8=`urgsmgktgln onm kldpbtbnkb,

;88‛8=clkotgln la, ;?7dbmgotgln prbkbmgni, ;81rbprbsbntotgln la krbmgtlrs

hbalrb, ;82trgiibrgni dbkfongsds, ;8=

]rgkfbt, @bon-Kcoumb, ;?6]rluhcbm Ossbt Xbcgba Zrlirod

(]OXZ), =2?]rust Gnmbnturb Okt (R.[.), 819n?9trust gnstrudbnts, Bnicgsf vbrsus

R.[., 82=, 819n?9]ungsgo, =;n?]ureby

mbht kldplsgtgln onm strukturbgn, ;17a, ;9:, ;9?a, ;71mbht donoibrs‗ rbsplnsb tl

iclhoc krgsgs gn, =:=,=:2, =:1

bxtbrnoc mbht, ?82n?, ;79alrbgin kurrbnky hlrrlwgni,

;66, ;71IMZ irlwtf gn, ?6?iclhoc agnonkgoc krgsgs, baabkts la,

;79, =:8fgstlry la mbht krgsbs gn, 8:gnacotgln rotbs, 8::8‛:9, ?92gnacotgln toribtgni gn, ?78n;dokrlbklnldgk spokb gn, ?99

dbmgud-tbrd kfoccbnibs onmom`ustdbnt strotbigbs,?61, ?69, ?66, ?7;n?=

nlncgnbor krgsgs bvbntsgn, =;n?

R

Rerognbkrbmgt os sforb la IMZ gn, ?92bxtbrnoc onm agskoc gdhoconkbs,

aogcurb tl klrrbkt, ;69bxtbrnoc mbht rbcotgvb tl IMZ,

8::8‛:9, ?92IMZ, bxtbrnoc mbht os pbrkbntoib

la, ?68IMZ irlwtf gn, ?6?gnacotgln rotbs, 8::8‛:9, ?92dokrlbklnldgk spokb gn,

?91‛99, ?6=dbmgud-tbrd kfoccbnibs onm

om`ustdbnt strotbigbs,?69, ?66

Noatlioz mbht rbstrukturgni gn,?82n8

nbw mbht strbss bvbnts,8::6‛:7, ;?

slvbrbgin hlnm sprbomsgn, ?6:

unkllrmgnotbm krbmgtlrs, ;:1‛7unkllrmgnotbm mbhtlrs, ;:7‛?:Rngtbm Egnimld

Bnicgsf trust mbbms vbrsus R.[.trust gnmbnturbs, 82=,819n?9

gnacotgln-cgnebm hlnms, ;9?rgsb la slvbrbgin mbht gn, 8suhnotglnoc mbht gn, 897

Rngtbm Notglns onm trghunocprlplsoc, ;8?, ;82,;81‛89

Rngtbm Notglns Klddgssgln ln

Gntbrnotglnoc ]romb Cow(RNKG]XOC), ;82

Rngtbm Notglns Klnabrbnkb ln]romb onm Mbvbclpdbnt(RNK]OM), 827, 81:

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gnmbx =72

Rngtbm [totbsKfoptbr 7 honeruptky gn, 896,

86;, 862‛69

Kfoptbr ?? honeruptky gn,861, 869

Klntrokts Kcousb, R.[.Klnstgtutgln, 87?n?7

mbht cbvbcs, gnkrbosb gn, =2=Bnicgsf trust mbbms vbrsus R.[.

trust gnmbnturbs, 82=,819n?9

Alrbgin [lvbrbgin GddungtyOkt, ;:9

fgif-ygbcm hlnm ossbt kcoss,bdbrigni slvbrbgin hlnmdorebt kldporbm tl, ?:6

flusgni dorebt, klccopsbla, 8=1

gnacotgln-cgnebm hlnms, ;9?Gron-R.[. kcogds trghunoc, ;?9,

;?7, ;8:, ;88Lfgl, Agskoc Yotkf Zrlirod gn,

86?, 868, 862rgsb la slvbrbgin mbht gn, 8suhnotglnoc mbht gn, 89;,

892‛97, 86?, 868, 862‛69?:tf Odbnmdbnt tl R.[.

Klnstgtutgln, 861tgppgni plgnt onm, 1;

Rruiuoymbht donoibrs‗ rbsplnsb tl

iclhoc krgsgs gn, =:8

mbht rbstrukturgni gn, ;99mldbstgk mbht plrtalcgl,tronsalrdotgln la, ;7;

iclhoc hlnms mbnldgnotbm gnclkoc kurrbnkgbs, gssuonkbla, ;7:

fgstlry la mbht krgsbs gn, 8:nlncgnbor krgsgs bvbnts gn, =;n?

Rzhbegston, ==:

Q

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