the euro area sovereign debt crisis

8/2/2019 The Euro Area Sovereign Debt Crisis

1/61

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rmgsd gi rmd ftrmgzs f`b bg `gr `dcdssfzko{ zddcr rmgsd gi rmd DCJ.

K` :86: foo DCJxtjokcfrkg`s

idfrtzd f egrkirfld` izge

rmd 48 jf`l`grd.


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Dtzgxdf` Cd`rzfo Jf`l/ :86:

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gz k` xfzr/ ks xdzekrrdb gò{ qkrm rmd d}xokckr qzkrrd` ftrmgzksfrkg` gi rmd DCJ gz rmd ftrmgzs.

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Kìgzefrkg` g` foo gi rmd xfxdzs xtjoksmdb k` rmd DCJ Qgzlkà Xfxdz Sdzkds cf` jd igt`b g` rmd DCJs qdjskrd/ mrrx>''qqq.dcj.dtzgxf.

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`gr `dcdssfzko{ zddcr rmgsd gi rmd Dtzgxdf` Cd`rzfo Jf`l gz rmd Dtzgs{srde.

Zgjdzrg F. Bd Sf`rks

fr Dtzgxdf` Cd`rzfo Jf`l/ Lfksdzsrzfssd :;/ 98366 Izf`litzr fe Efk`/ Adzef`{< d%efko> zgjdzrg.bdWsf`rksHdcj.dtzgxf.dt


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Sk`cd rmd k`rd`skcfrkg` gi rmd czksks k` Sdxrdejdz :88=/ foo dtzg fzdf ogà%rdze agydzèd`r jg`b {kdobs zdofrkyd rg rmd Adzef` Jt`b mfyd jdd` cmfz%

fcrdzksdb j{ mkamo{ xdzsksrd`r xzgcdssds qkrm txqfzb rzd`bs igz cgt`rzkds qkrm

qdfldz scfo it`bfed rfos. Ogglkà fr rmd bfko{ xdzkgb 6 Sdxrdejdz :88= % 2

Ftatsr :866/ qd `b rmfr rmzdd ifcrgzs cf` d}xofk` rmd zdcgzbdb bdydogxed`rs k`

sgydzdka` sxzdfbs> -k+ f` faazdafrd zdakg`fo zksl ifcrgz/ -kk+ rmd cgt`rz{%sxdckc

czdbkr zksl f`b -kkk+ rmd sxkoogydz ddcr izge Azddcd. Sxdckcfoo{/ mkamdz zksl

fydzskg` mfs k`czdfsdb rmd bdef`b igz rmd Jt`b f`b rmks ks jdmk`b rmd xzkckà gi

foo dtzg fzdf sxzdfbs/ k`cotbkà rmgsd igz Ftsrzkf/ Ikòf`b f`b rmd @drmdzof`bs.

Cgt`rz{%sxdckc czdbkr zfrkàs mfyd xof{db f ld{ zgod k` rmd bdydogxed`rs gi rmd

sxzdfbs igz Azddcd/ Kzdof`b/ Xgzrtafo f`b Sxfk`. Ik`foo{/ rmd zfrkà bgqàzfbdk` Azddcd mfs cg`rzkjtrdb rg bdydogxed`rs k` sxzdfbs gi cgt`rzkds qkrm qdfldz

scfo it`bfed`rfos> Kzdof`b/ Xgzrtafo/ Krfo{/ Sxfk`/ Jdoakte f`b Izf`cd.

Ld{qgzbs> Sgydzdka` sxzdfbs/ czdbkr zfrkàs/ sxkoogydzs.

NDO cofsskcfrkg`> A64/ I39

6


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@g` Rdcm`kcfo Steefz{

Sk`cd rmd k`rd`skcfrkg` gi rmd `f`ckfo czksks k` Sdxrdejdz :88= firdz rmd cgoofxsd

gi Odmef`/ ogà%rdze agydzèd`r jg`b {kdobs zdofrkyd rg rmd Adzef` Jt`b mfydjdd` zksk a firdz rd` {dfzs gi srfjkokr{ fr ydz{ ogq odydos. K` rmd zsr xmfsd/ rmd

fssgckfrdb aogjfo t`cdzrfk`r{ f`b k` rmd dtzg fzdf rmd zdsctd gi rmd ofzadsr Kzksm jf`ls

j{ rmd Kzksm agydzèd`r ekamr mfyd xof{db f ld{ zgod k` rmd bdydogxed`rs gi rmd dtzg

fzdf sgydzdka` sxzdfbs. Rmd skrtfrkg` srfzrdb rg kexzgyd k` rmd cgtzsd gi rmd sxzkà

f`b rmd steedz :88; fs aogjfo t`cdzrfk r{ zdcdbdb f`b firdz rmd f``gt`cded`r

gi srzkàd r scfo srfjkok~frkg` edfstzds j{ rmd Kzksm agydzèd`r g` :: Idjztfz{

:88;. G` 69 Gcrgjdz :88;/ rmd Azddl Xzked Ek`ksrdz Adgzad Xfxf`bzdgt k` mks zsr

xfzokfed`rfz{ sxddcm bkscogsdb rmd cgt`rz{s sdydzd scfo xzgjodes f`b keedbkfrdo{

firdz g` 4 @gydejdz :88; rmd Azddl agydzèd`r zdydfodb f zdyksdb jtbadr bdckr gi

6:.1$ gi ABX igz :88;/ qmkcm qfs rmd bgtjod gi rmd xzdykgts dsrkefrd. Sk`cd rmd`/

rmd sgydzdka` sxzdfbs zgsd smfzxo{ igz egsr gi rmd dtzg fzdf cgt`rzkds/ cftskà rmd

jkaadsr cmfoodàd igz rmd Dtzgxdf` eg`drfz{ t`kg` sk`cd krs czdfrkg`.

Rmd rd`skg` ks itzrmdz kootsrzfrdb j{ rmd zdfcrkg` k` mkamo{ zfrdb sgydzdka` xfxdzs.

Jd`cmefzl Izd`cm/ Btrcm/ Ftsrzkf`/ Ik``ksm f`b Adzef` {kdobs mfyd rtz`db zgt`b

rg tcrtfrd qkrm f bdcok kà rzd`b gydz rmd :88=%:866 xdzkgb. Mgqdydz/ rmd sxzdfbs

yks%%yks rmd Adzef` Jt`b mfyd jdd` zkskà fosg g` jg`b ksstdb j{ cgt`rzkds qkrm sgokb

scfo it`bfed`rfos/ stcm fs Ftsrzkf/ Ikòf`b f`b rmd @drmdzof`bs. @g`d gi rmd efzldr

xfzrkckxf`rs mfyd staadsrdb rmfr rmd bdydogxed`rs k` sgydzdka` jg`b {kdobs gi rmdsd

cgt`rzkds qdzd rmd zdstors gi rmd efzldr xzkckà zd%fssdssed`r gi rmd agydzèd`r czdbkr

zksl. K` ifcr/ rmd czdbkr zfrkà fad`ckds bkb `gr egbki{ rmdkz czdbkr zksl fssdssed r

fafk`sr rmd jg`bs ksstdb j{ rmdsd cgt`rzkds/ lddxkà rmd rzkxod%F cofsskcfrkg`.

Qm{ bkb rmd sxzdfbs gi cgt`rzkds qkrm sgokb scfo it`bfed`rfos zksd qkrm rmd

`f`ckfo czksks7 Qm{ bkb rmd sxzdfbs gi cgt rzkds qkrm qdfl scfo it`bfed`rfos sl{%

zgcldrdb qkrm rmd `f`ckfo czksks7 Ks rmdzd dykbd`cd gi sxkoogydz ddcrs gi sgydzdka`

bgqàzfbds gi jg`b ksstdb j{ Azddcd/ Kzdof`b f`b Xgzrtafo g` grmdz dtzg fzdf cgt`%

rzkds sxzdfbs7 Rmdsd fzd rmd rmzdd vtdsrkg`s k`ydsrkafrdb k` rmks xfxdz.Rmd ifcrgzs fdcrkà rmd sgydzdka` jg`b {kdobs fzd fssgckfrdb rg faazdafrd zksl/

cgt rz{%sxdckc zksl f`b cg`rfakg` zksl. Rmd faazdafrd zksl ks bzkyd` j{ cmfàds k`

eg`drfz{ xgokc{/ aogjfo t`cdzrfk`r{ f`b zksl fydzskg`/ qmkod rmd cgt`rz{%sxdckc zksl

ks zdofrdb rg cmfàds k` bdiftor xzgjfjkokrkds g` rmd sgydzdka` bdjr/ rmd fjkokr{ rg zfksd

it`b k` rmd xzkefz{ efzldr f`b okvtkbkr{ ifcrgzs k` rmd sdcg`bfz{ efzldr.

Sdxfzfrkà rmd okvtkbkr{ d}xof`frkg` f`b cg`rfakg` zksl izge faazdafrd zksl f`b

sgydzdka` bdiftor ks ydz{ kexgzrf`r izge f xgokc{ eflkà xdzsxdcrkyd/ jdcftsd f`

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k`rdzyd`rkg` j{ rmd cd`rzfo jf`l cf` jd stccdssito ki `f`ckfo efzldrs ifcd rdcm`kcfo

okvtkbkr{ xzgjodes gz stjndcr rg cg rfakg`. Ki/ g` rmd cg`rzfz{/ rmd zksd k` sxzdfbs

ks btd rg faazdafrd ifcrgzs f`b sgydzdka` bdiftor rmd` f cd`rzfo jf`l mfs gò{ okrrod

zgge igz ef`gdtyzd.

Ogglkà fr rmd bfko{ xdzkgb 6 Sdxrdejdz :88= % 2 Ftatsr :866/ qd `b rmfr rmzdd

ifcrgzs cf` d}xofk` rmd zdcgzbdb bdydogxed`rs k` sgydzdka` sxzdfbs> -k+ f` faazdafrd

zdakg`fo zksl ifcrgz/ -kk+ rmd cgt`rz{%sxdckc czdbkr zksl f`b -kkk+ rmd sxkoogydz ddcr

izge Azddcd.

Sxdckcfoo{/ mkamdz zksl fydzskg` mfs k`czdfsdb rmd bdef`b igz rmd Jt`b f`b rmks

ks jdmk`b rmd xzkck a gi foo dtzg fzdf sxzdfbs/ k`cotbkà rmgsd igz Ftsrzkf/ Ikòf`b f`b

rmd @drmdzof`bs. Btzkà rmd `f ckfo czksks/ rmd Adzef` Jt`b mfs jd`drdb izge

rmd sfid mfyd` srfrts/ qmkcm mfs mksrgzkcfoo{ cmfzfcrdzk~db TS Rzdfstzkds/ rmd Sqkss

izf`c/ rmd Nfxf`dsd [d` f`b agob.Cgt`rz{%sxdckc czdbkr zfrkàs mfyd xof{db f ld{ zgod k` rmd bdydogxed`rs gi rmd

sxzdfbs igz Azddcd/ Kzdof`b/ Xgzrtafo f`b Sxfk`. Kr ks tsdito rg xgk r gtr rmfr k`%

srkrtrkg`fo k`ydsrgzs/ stcm fs xd`skg` it`bs f`b k`stzdzs/ fzd gjokadb j{ ofq gz rmdkz

gq` srfrtrds rg xtzcmfsd f`b mgob jg`bs qkrm f cdzrfk` ek`kete zfrkà. Egzdgydz/

czdbkr zfrkàs fzd tsdb j{ zdatofrgzs rg dsrfjoksm jf`ls cfxkrfo zdvtkzded`rs f`b cf`

kexfcr jf`ls xgzrigokgs jdcftsd gò{ mkam zfrdb fssdrs fzd dokakjod fs cgoofrdzfo rg

gjrfk` czdbkr izge rmd cd`rzfo jf`l. Rmdzdigzd/ f bgqàzfbd cf` ad`dzfrd f xgzrigokg

smkir/ qmkcm cf` ska`kcf`ro{ fdcr jg`b {kdobs.

Ik`foo{/ rmd zfrkà bgqàzfbd k` Azddcd mfs cg`rzkjtrdb rg bdydogxed`rs k` sxzdfbsgi cgt`rzkds qkrm qdfldz scfo it`bfed`rfos> Kzdof`b/ Xgzrtafo/ Krfo{/ Sxfk`/ Jdoakte

f`b Izf`cd. Czdbkr zfrkà fad`ckds mfyd jzgtamr rmd cg`rfakg` zksl rg rmd igzd. Igz

d}fexod/ qmd` Eggb{s bgqàzfbdb rmd Xgzrtafos ogà%rdze agydzèd r jg`b zfr%

kàs j{ igtz `grcmds g` 4 Nto{ :866 izge Jff6 rg Jf: f`b fsska`db f `dafrkyd gtroggl/

kr fzatdb rmfr f ygot`rfz{ zgoogydz gi Azddl bdjr qgtob kexo{ f zkskà zksl rmfr xzk%

yfrd sdcrgz xfzrkckxfrkg` cgtob jdcged f xzdcg`bkrkg` igz fbbkrkg`fo zgt`bs gi gckfo

od`bkà rg Xgzrtafo fs qdoo. Rmd bdjfrd fjgtr rmd ygot`rfz{ bdjr zgoogydz igz Azddcd

mfs cg`rzkjtrdb rg f efngz zd%fssdssed`r gi rmd Xgzrtatdsd gtroggl f`b rzkaadzdb f

ska`kcf r k`czdfsd k` {kdob sxzdfbs igz Xgzrtafo. K` grmdz qgzbs/ Xgzrtafo qfs `gr

xzkefzko{ ntbadb g` rmd jfsks gi krs gq` it`bfed`rfos.

Izge f xgokc{%eflkà xgk`r gi ykdq/ rg sfidatfzb rmd srfjkokr{ gi rmd dtzg fzdf

`f`ckfo s{srde/ rmd mkamdsr xzkgzkr{ ks rg zdbtcd rmd sgydzdka` sgoyd`c{ zksl f`b rfclod

cg rfakg`. Qkoo xgokc{%efldzs cogsd rmd ofzad afx jdrqdd` sxd`bkà f`b zdyd`tds7

Qkoo rmd{ ctr sxd`bkà f`b'gz zfksd rf}ds d`gtam rg efld rmd bdjr stsrfk`fjod7 Rmd

cmfoodàd rmfr rmd xgokc{%efldzs ifcd ks rg zdbtcd k`dckd`r sxd`bkà f`b fygkb f

bdfrkg`fz{ sxdoo/ rmzgtam srztcrtzfo zdigzes. K` rmd ogà zt`/ f ld{ cmfoodàd ks rg

d`mf`cd rmd xgokrkcfo t`kg` k` Dtzgxd xgsskjo{ qkrm f` k`srkrtrkg` rmfr atfzf`rdds

ogà%rdze scfo bksckxok`d rg k`bkykbtfo dtzg fzdf cgt rzkds.

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6 K rzgbtcrkg`

Sk`cd rmd k`rd`skcfrkg` gi rmd `f`ckfo czksks k` Sdxrdejdz :88= firdz rmd cgoofxsd

gi Odmef`/ ogà%rdze agydzèd`r jg`b {kdobs zdofrkyd rg rmd Adzef` Jt`b mfyd

jdd` zkskà firdz rd` {dfzs gi srfjkokr{ fr ydz{ ogq odydos -sdd Xf`do F k` Ikatzd

6+. K` rmd zsr xmfsd/ rmd fssgckfrdb aogjfo t`cdzrfk r{ f`b k` rmd dtzg fzdf rmd

zdsctd gi rmd ofzadsr Kzksm jf`ls j{ rmd Kzksm agydzèd`r ekamr mfyd xof{db f ld{

zgod k` rmd bdydogxed rs gi rmd dtzg fzdf sgydzdka` sxzdfbs. Rmd skrtfrkg` srfzrdb

rg kexzgyd k` rmd cgtzsd gi rmd sxzkà f`b rmd steedz :88; fs aogjfo t`cdzrfk`r{

zdcdbdb f`b firdz rmd f``gt`cded`r gi srzkàd`r scfo srfjkok~frkg` edfstzds j{ rmd

Kzksm agydzèd`r g` :: Idjztfz{ :88;. G` 69 Gcrgjdz :88;/ rmd Azddl Xzked Ek`ksrdz

Adgzad Xfxf`bzdgt k` mks zsr xfzokfed`rfz{ sxddcm bkscogsdb rmd cgt`rz{s sdydzd

scfo xzgjodes f`b keedbkfrdo{ firdz g` 4 @gydejdz :88; rmd Azddl agydzèd`r

zdydfodb f zdyksdb jtbadr bdckr gi 6:.1$ gi ABX igz :88;/ qmkcm qfs rmd bgtjod gi

rmd xzdykgts dsrkefrd. Sk`cd rmd`/ rmd sgydzdka` sxzdfbs zgsd smfzxo{ igz egsr gi rmd

dtzg fzdf cgt`rzkds/ cftskà rmd jkaadsr cmfoodàd igz rmd Dtzgxdf` eg`drfz{ t`kg`

sk`cd krs czdfrkg`.

Rmd rd`skg` ks itzrmdz kootsrzfrdb j{ rmd zdfcrkg` k` egzd mkamo{ zfrdb sgydzdka`

xfxdzs. Jd`cmefzl Izd`cm/ Btrcm/ Ftsrzkf`/ Ik``ksm f`b Adzef` {kdobs mfyd rtz`db

zgt`b rg tcrtfrd qkrm f bdcok`kà rzd`b gydz rmd :88=%:866 xdzkgb -sdd Xf`do J

k` Ikatzd 6+. Mgqdydz/ rmd sxzdfbs yks%%yks rmd Adzef` Jt`b mfyd jdd` zksk a

fosg g` jg`b ksstdb j{ cgt`rzkds qkrm sgokb scfo it`bfed rfos/ stcm fs Ftsrzkf/Ikòf`b f`b rmd @drmdzof`bs.6 @g`d gi rmd efzldr xfzrkckxf`rs mfyd staadsrdb rmfr

rmd bdydogxed`rs k` sgydzdka` jg`b {kdobs gi rmdsd cgt`rzkds qdzd rmd zdstors gi rmd

efzldr xzkckà zd%fssdssed`r gi rmd agydzèd`r czdbkr zksl. K` ifcr/ rmd czdbkr zfrkà

fad`ckds bkb `gr egbki{ rmdkz czdbkr zksl fssdssed r fafk`sr rmd jg`bs ksstdb j{ rmdsd

cgt`rzkds/ lddxkà rmd rzkxod%F cofsskcfrkg`.

Qm{ bkb rmd sxzdfbs gi cgt`rzkds qkrm sgokb scfo it`bfed`rfos zksd qkrm rmd

`f`ckfo czksks7 Qm{ bkb rmd sxzdfbs gi cgt rzkds qkrm qdfl scfo it`bfed`rfos sl{%

zgcldrdb qkrm rmd `f`ckfo czksks7 Ks rmdzd dykbd`cd gi sxkoogydz ddcrs gi sgydzdka`

bgqàzfbds gi jg`b ksstdb j{ Azddcd/ Kzdof`b f`b Xgzrtafo g` grmdz dtzg fzdf cgt`%rzkds sxzdfbs7 Rmdsd fzd rmd rmzdd vtdsrkg`s k`ydsrkafrdb k` rmks xfxdz.

Rmd ifcrgzs fdcrkà rmd sgydzdka` jg`b {kdobs fzd fssgckfrdb rg faazdafrd zksl/

cgt`rz{%sxdckc zksl f`b cg`rfakg` zksl -sdd Ikatzd :+. Rmd faazdafrd zksl ks bzkyd` j{

cmfàds k` eg`drfz{ xgokc{/ aogjfo t`cdzrfk`r{ f`b zksl fydzskg`/ qmkod rmd cgt`rz{%

sxdckc zksl ks zdofrdb rg cmfàds k` bdiftor xzgjfjkokrkds g` rmd sgydzdka` bdjr/ rmd

6 Fccgzbk a rg Dtzgsrfr/ rmd agydzèd`r bdckr -%+ f`b bdjr rg ABX zfrkg k` :88; fegt`rdb

zdsxdcrkydo{ rg %2.6 f`b 9;.9$ k` Ftsrzkf/ %:.9$ f`b 23.=$ k` Ikòf`b/ f`b %4.4$ f`b 98.=$ k`

rmd @drmdzof`bs. Rmd sfed srfrksrkcs fegt`rdb rg %1.4$ f`b 1=.3$ k` Izf`cd/ %4.;$ f`b ;9.:$ k`

Jdoakte/ %66.6$ f`b 43.3$ k` Sxfk`/ %4.2$ f`b 669.6$ k` Krfo{/ %68.6$ f`b =3$ k` Xgzrtafo/ %62.3$

f`b 94.9$ k` Kzdof`b/ %64.2$ f`b 6:1.6$ k` Azddcd.

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fjkokr{ rg zfksd it`b k` rmd xzkefz{ efzldr f`b okvtkbkr{ ifcrgzs k` rmd sdcg`bfz{

efzldr. F` kexgzrf r ksstd gi f`{ xfxdz srtb{k a rmd bdrdzek`f rs gi jg`b {kdobs

ks rmd kbd`rkcfrkg` gi rmd yfzkfjods rg jd tsdb fs f xzg}{.

Ef`{ gi rmd zdofrkg`smkxs srtbkdb k` rmks xfxdz mfyd fozdfb{ jdd` k`ydsrkafrdb k`

rmd okrdzfrtzd/ jtr rmd tsd gi mkam%izdvtd`c{ bfrf/ rmd igcts g` rmd czksks xdzkgb f`b

rmd egbdookà gi rmd mkam xdzsksrd`c{ efld rmd cg`rzkjtrkg` gi rmd xfxdz `gydo. Rmd

d}ksrkà dexkzkcfo egbdos/ sged gi qmkcm fzd zdykdqdb k` Sdcrkg` : -k.d. Ifydzg/ dr fo./

:868< Adzofcm/ dr fo./ :868< Fzam{zgt f`b Lg`rg`klfs/ :868+/ cf``gr mdox d}xofk`kà

rmd d}rd`r gi rmd sgydzdka` sxzdfbs gi k`bkykbtfo dtzg fzdf cgt`rzkds/ jdcftsd rmd{

bg `gr fbbzdss rmd srzgà xdzsksrd`r ddcr k` rmd sgydzdka` {kdob sxzdfbs f`b bg `gr

cg`rzgo igz rmd mkamdz bdef`b igz Adzef` sgydzdka` jg`bs f`b rmd sgydzdka` bdiftor

zksl.

K` rmks xfxdz/ zsr/ qd kbd rki{ f dtzg fzdf cgeeg` zksl ifcrgz. Rmd sgydzdka`sxzdfbs gi rmd cgt`rzkds qkrm sgokb scfo it`bfed`rfos egyd k` rf`bde qkrm rmd rd`%

{dfz sxzdfb jdrqdd` rmd Adzef` agydzèd`r%atfzf rddb LiQ -Lzdbkrf`srfor itz

Qkdbdzftijft+ jg`b f`b rmd Adzef` sgydzdka` jg`b -sdd Ikatzd 3+/ jgrm atfzf`rddb

j{ rmd Adzef` agydzèd`r f`b/ rmdzdigzd/ cfzz{kà rmd sfed bdiftor zksl. Sk`cd rmd

czdbkr zksl cgexg`d`r gi fad`c{ {kdobs ks fsstedb rg jd rmd sfed fs rmfr gi jg`bs

ksstdb bkzdcro{ j{ rmd atfzf`rddkà agydzèd`r -Ogàsrf/ :882< Scmqfz~ :868+/ f`{

bkdzd`cds jdrqdd` fad`c{ f`b agydzèd r jg`b {kdobs smgtob zddcr jgrm kamr%rg%

okvtkbkr{ -k`ydsrgzs xzdidzd`cd igz fssdrs qkrm rmd ogqdsr okvtkbkr{ zksl+ f`b kamr%rg%

sfidr{ -k`ydsrgzs xzdidzd`cd igz sfid Adzef` fssdrs/ stcm fs rmd Jt`b+.Btzkà rmd `f`ckfo czksks/ rmd Adzef` Jt`b sddes rg mfyd jd`drdb izge rmd

sfid mfyd` srfrts -Scmtl`dcmr/ dr fo./ :88;+/ qmkcm mfs mksrgzkcfoo{ cmfzfcrdzk~db TS

Rzdfstzkds/ rmd Sqkss izf`c/ rmd Nfxf`dsd [d f`b agob. Fs smgq` k` Ikatzd 2/ rmd

68%{dfz sxzdfb jdrqdd` rmd Adzef` LiQ f`b rmd Jt`b k`czdfsdb srdfbko{ izge 68%64

jfsks xgk`rs jdigzd rmd `f`ckfo czksks srfzrdb/ frrzkjtrdb rg rmd okvtkbkr{ xzdekte/: rg

;8 jfsks xgk`rs k` rmd zsr vtfzrdz gi :88;/ qmkcm ks egsr okldo{ rmd zdstor gi k`ydsrgzs

bdef`bkà egzd Adzef` jt`b igz sfidr{ zdfsg`s.

Rmd TS cgzxgzfrd jg`b sxzdfb f`b rmd TS kexokdb srgcl efzldr ygofrkokr{ -YK]+

fzd ad`dzfoo{ tsdb rg edfstzd aogjfo t`cdzrfk`r{ f`b faazdafrd zksl fydzskg`. Rmd rqg

sdzkds cgegyd qkrm rmd LiQ%Jt`b t`rko d`b :88;/ bdcok`db smfzxo{ k` rmd cgtzsd gi

:88;/ jtr rmd` rmd{ bdcgtxodb -sdd Ikatzd 2+. Rmd LiQ%Jt`b zgsd fafk` fs rmd dtzg

fzdfs sgydzdka` bdjr czksks tìgobdb k` :868 f`b :866 qkrm zksl fydzskg` jd`drkà

okvtkb/ sfid mfyd` fssdrs/ stcm fs rmd Jt`b. Qd smgq rmfr rmd mkamdz bdef`b igz rmd

Adzef` Jt`b ks rmd ld{ zdfsg` igz rmd bdydogxed`rs k` sxzdfbs igz Ftsrzkf/ Ikòf`b

f`b rmd @drmdzof`bs btzkà rmd czksks f`b cf` xfzro{ d}xofk` foo dtzg fzdf sgydzdka`

sxzdfbs.3 Qd fosg smgq rmfr rmks zdakg`fo zksl ifcrgz bgek`frds rmd k`rdz`frkg`fo zksl

: Fosg fr krs oft`cm k` sxzkà 6;;=/ f ntejg LiQ jg`b gdzdb f 68%64 jfsks xgk`rs k` fbbkrkg` rg

rmd jd`cmefzl Adzef` agydzèd`r jg`b -EcCftod{/ 6;;;+.3 Efàf`dook f`b Qgosqknl -:88;+ kbd`rkdb k` rmd efk` zd`f`ckà gxdzfrkg`s -EZG+ ek`kete

4


8/61

ifcrgz igz foo dtzg fzdf sgydzdka` sxzdfbs qkrm rmd d}cdxrkg` gi Azddcd f`b Sxfk`/

qmdzd jgrm ifcrgzs sdde rg xof{ f zgod.

Sdxfzfrkà rmd okvtkbkr{ d}xof`frkg` izge rmd sfid mfyd` egrkyd ks ydz{ kexgzrf`r

izge f xgokc{%eflkà xdzsxdcrkyd/ jdcftsd f` k`rdzyd`rkg` j{ rmd cd`rzfo jf`l cf` jd

stccdssito ki `f`ckfo efzldrs ifcd rdcm`kcfo okvtkbkr{ xzgjodes. Ki/ g` rmd cg`rzfz{/

rmd zksd k` sxzdfbs ks btd rg rmd sfid mfyd` xzdekte rmd` f cd`rzfo jf`l mfs gò{ okrrod

zgge igz ef`gdtyzd. Sdydzfo srtbkds mfyd tsdb rmd LiQ%Jt`b sxzdfb igz okvtkbkr{

xzkckà ddcrs -EcCftod{/ 6;;;< Scmqfz~ :868< Egìgzr f`b Zd``d/ :866+. Mgqdydz/

sdxfzfrkà kamr%rg%okvtkbkr{ f`b kamr%rg%sfidr{ ks bkctor jdcftsd okvtkbkr{ xzdekf

f`b sfid mfyd` xzdekf fzd xgskrkydo{ cgzzdofrdb -Dzkcssg` f`b Zd`ftor/ :889+. Qd

cg`rzgo igz jg`b efrtzkr{%sxdckc jkb%fsl sxzdfbs/ jg`b%sxdckc rzf`sfcrkg` ygoteds

fs qdoo fs igz rmd `dq ksstf`cd gi ogà%rdze agydzèd`r bdjr/ qmkcm fzd gird` tsdb

rg xzkcd okvtkbkr{ k` rmd sdcg`bfz{ f`b xzkefz{ efzldrs. Rmd zdstors staadsr rmfrokvtkbkr{ f`b it`bkà zksl ifcrgzs mfyd xof{db gò{ f efzak`fo zgod btzkà rmd czksks

xdzkgb.

Jdigzd rmd gtrjzdfl gi rmd Azddl sgydzdka` bdjr czksks fr rmd d`b gi :88;/ fosg

rmd sxzdfbs igz Sxfk`/ Jdoakte/ Izf`cd f`b/ rg f cdzrfk` d}rd`r igz Krfo{/ cgtob jd

d}xofk`db j{ rmd sfid mfyd` gqs rg Adzef`{ -sdd Ikatzd 3+. Mgqdydz/ rmd bdydogx%

ed`rs k` :868 f`b :866 qdzd zdefzlfjod qkrm rmd Azddl/ Kzksm f`b Xgzrtatdsd sxzdfbs

mkrrkà k` Nto{ :866 zdsxdcrkydo{ 6988/ 6:88 f`b 6688 jfsks xgk rs. Skekofzo{/ Sxf`ksm

f`b Krfokf` sxzdfbs zdfcmdb 288 jfsks xgk`rs/ Jdoakte mkr :88 jfsks xgk`rs f`b Izf`cd

mkr ;8 jfsks xgk`rs.Rmd efzldr xof{dzs mfyd skàodb gtr rmd bdjr stsrfk`fjkokr{ ksstd f`b mfyd fzatdb

rmfr rmd sgoyd`c{ zksl igz rmdsd cgt`rzkds bdrdzkgzfrdb k` rmd cgtzsd gi :868 f`b :866.

Izge f` fssdr%xzkckà xdzsxdcrkyd/ gi cgtzsd/ cmfàds k` bdiftor xzgjfjkokrkds mfyd f`

kexfcr g` rmd dvtkokjzkte zdvtkzdb xzdekte igz jdfzkà czdbkr zksl. Rmdzdigzd/ rmd

dcg`gedrzkc f`fo{sks ks cfzzkdb gtr cg`rzgookà igz rmd agydzèd`r bdckr -f zsr xzg}{

igz sgydzdka` sgoyd`c{ zksl+/ fs zdxgzrdb j{ Dtzgsrfr k` krs xzdss zdodfsds gi Fxzko f`b

Gcrgjdz gi dfcm {dfz -sdd Ikatzd 4+. Qd `b rmfr rmd bdrdzkgzfrkg` k` xtjokc `f`cds

xof{s f zgod k` rmd czksks/ fs fosg igt`b j{ Jfzzkgs/ dr fo. -:88;+/ Mftam/ dr fo. -:88;+/

Frrk`fsk/ dr fo. -:868+/ Jgza{/ dr fo. -:866+/ Dnskà/ dr fo. -:866+ f`b Feksf`g f`b

Rzksrf`k -:866+2/ gò{ ki qd bg `gr cg`rzgo igz czdbkr zfrkàs.

jkb zfrd gi rmd dtzg fzdf rmd zdakg`fo faazdafrd zksl ifcrgz bzkykà dtzg fzdf sxzdfbs gydz rmd Nf`tfz{

6;;; rg Fxzko :88= xdzkgb. Mgqdydz/ btzkà rmd sgydzdka` bdjr czksks k` :868 f`b :866/ rmd EZG

zfrd qfs cg`srf`r igz egsr gi rmd sfexod xdzkgb.2 Igctskà g` rmd xfxdzs/ qmkcm srtb{ rmd `f`ckfo czksks xdzkgb/ Jgza{/ dr fo. -:866+ f`b Dnskà

fr fo. -:866+ `b zdsxdcrkydo{ rmfr d}xdcrdb cmfàds k` bdjr'ABX zfrkgs f`b scfo bdckrs mfyd f

ska`kcf`r kexfcr g` jg`b sxzdfbs sk`cd ftrte` :88=. Tskà f zdaked sqkrcmkà egbdo/ Feksf`g f`b

Rzksrf`k -:866+ `b rmfr {kdob sxzdfbs igz Izf`cd/ Azddcd/ Kzdof`b/ Krfo{/ Xgzrtafo f`b Sxfk` egyd

izge g`d zdaked rg rmd grmdz qkrm xzgjfjkokrkds rmfr fzd fdcrdb j{> efzldrs xdzcdxrkg`s gi rmd

stsrfk`fjkokr{ gi f cgt`rz{s scfo skrtfrkg` -xzg}kdb j{ rmd bdckr%rg%ABX zfrkg+< cmfàkà frrkrtbds

9


9/61

Akyd` rmfr czdbkr zfrkà fad`ckds fzd edf`r rg xzgykbd f` fssdssed`r gi rmd okld%

okmggb gi bdiftor/4 qd tsd zfrkàs fs f sdcg`b xzg}{ gi sgydzdka` czdbkr zksl/ j{ rzf`s%

igzekà rmd sgydzdka` czdbkr zfrkà zdykdqs -d}xokckr czdbkr zfrkàs fs qdoo fs czdbkr

gtroggl f`b czdbkr qfrcm+ zdxgzrdb j{ Srf`bfzb f`b Xggz -S)X+/ Eggb{s K`ydsrgzs

Sdzykcd -Eggb{s+ f`b Ikrcm k`rg f bksczdrd yfzkfjod/ qmkcm cgbkds rmd zfrkà fad`c{s

bdckskg`s fccgzbkà rg rmd yfotds zdxgzrdb k` Fxxd`bk} -sdd Rfjod F6+.9 Kr ks tsdito rg

xgk`r gtr rmfr k`srkrtrkg`fo k`ydsrgzs/ stcm fs xd`skg` it`bs f`b k`stzdzs/ fzd gjokadb

j{ ofq gz rmdkz gq` srfrtrds rg xtzcmfsd f`b mgob jg`bs qkrm f cdzrfk` ek`kete

zfrkà. Egzdgydz/ czdbkr zfrkàs fzd tsdb j{ zdatofrgzs rg dsrfjoksm jf`ls cfxkrfo

zdvtkzded`rs -Jgàfdzrs/ dr fo./ :88;+ f`b cf` kexfcr jf`ls xgzrigokgs jdcftsd gò{

mkam zfrdb fssdrs fzd dokakjod fs cgoofrdzfo rg gjrfk` czdbkr izge rmd cd`rzfo jf`l.

Rmdzdigzd/ f bgqàzfbd cf` ad`dzfrd f xgzrigokg smkir/ qmkcm cf` ska`kcf`ro{ fdcr

jg`b {kdobs. Rmd zdstors fzd xogrrdb fafk sr rmd sxzdfbs k` Ikatzd 9. Rmdzd ks fcodfz zdofrkg`smkx jdrqdd` rmdsd yfzkfjods igz Azddcd/ Kzdof`b f`b Xgzrtafo staadsrkà

rmfr sgydzdka` sgoyd`c{ zksl/ qmkcm fccgzbkà rg rmd rmzdd czdbkr fad`ckds bdrdzkgzfrdb

gydz rked/ ekamr mfyd xof{db f ld{ zgod k` rmd czksks/ f zdstor cgzzgjgzfrdb j{ rmd

dcg`gedrzkc dykbd`cd k` rmks xfxdz.

Egzdgydz/ czdbkr zfrkà fad`ckds mfyd jzgtamr rmd cg`rfakg` zksl rg rmd igzd. Igz

d}fexod/ qmd` Eggb{s bgqàzfbdb rmd Xgzrtafos ogà%rdze agydzèd r jg`b zfr%

kàs j{ igtz `grcmds g` 4 Nto{ :866 izge Jff6 rg Jf: f`b fsska`db f `dafrkyd gtroggl/

kr fzatdb rmfr f ygot`rfz{ zgoogydz gi Azddl bdjr qgtob kexo{ f zkskà zksl rmfr xzk%

yfrd sdcrgz xfzrkckxfrkg` cgtob jdcged f xzdcg`bkrkg` igz fbbkrkg`fo zgt`bs gi gckfood`bkà rg Xgzrtafo fs qdoo.1 Rmd bdjfrd fjgtr rmd ygot`rfz{ bdjr zgoogydz igz Azddcd

mfs cg`rzkjtrdb rg f efngz zd%fssdssed`r gi rmd Xgzrtatdsd gtroggl f`b rzkaadzdb f

ska`kcf r k`czdfsd k` {kdob sxzdfbs igz Xgzrtafo. K` grmdz qgzbs/ Xgzrtafo qfs `gr

qkrm zdsxdcr rg zksl -xzg}kdb j{ rmd TS JFF%FFF cgzxgzfrd sxzdfb+< f`b czgss cgt`rz{ sxkoogydzs/

cfxrtzdb j{ foogqkà igz d}xokckr k`rdzfcrkg`s jdrqdd` dfcm cgt`rz{s xzgjfjkokrkds gi ntexkà rg rmd

czksks srfrd.4 Fad`c{ zfrkàs smgtob edfstzd rmd bdiftor zksl gydz ogà k`ydsred`r mgzk~g`s f`b smgtob `gr jd

fdcrdb j{ rmd dcg`gekc c{cod -Cf`rgz/ :886+/ f ykdq rmfr mfs jdd` dexkzkcfoo{ cg`zedb j{ Foref`

f`b Zknld` -:882+ igz rmd cgzxgzfrd sdcrgz.9 Qmkod rmdzd ks f` d}rd`skyd okrdzfrtzd srtb{kà rmd kexfcr gi zfrkà f``gt`cded`rs g` cgzxgzfrd

{kdobs/ okrrod qgzl d}ksrs g` rmd zdsxg`sd gi sgydzdka` {kdobs sxzdfbs f`b CBS. Rmdzd ks dykbd`cd rmfr

sgydzdka` zfrkà cmfàds f`b czdbkr gtroggls mfyd f zdodyf`r ddcr g` rmd sk~d f`b ygofrkokr{ gi od`bkà

-Lztsso/ :884+/ jg`b {kdob sxzdfbs -Zdksd` f`b yg` Efor~f`/ 6;;;+ f`b CBS -Ksefkodsct f`b Mgssdk`/

:868+ k` dedzakà efzldrs< f`b jg`b {kdob sxzdfbs f`b CBS xggokà rmd efngz dtzg fzdf cgt`rzkds

-Efàf`dook f`b Qgosqknl/ :88;< Fig`sg/ dr fo. :866+. Rmdzd fzd fosg srtbkds rmfr `b d}ksrd`cd gi

sxkoogydz ddcrs fczgss sgydzdka` zfrkàs j{ xggokà 32 bdydogxdb f`b bdydogxkà dcg`gekds -Af`bd

f`b Xfzsod{/ :884+ f`b dtzg fzdf cgt`rzkds -Fzd~lk/ Cf`bdog` f`b S{/ :866< Fig`sg/ dr fo./ :866+.1 Rmd Eggb{s xzdss zdodfsd g` 4 Nto{ :866/ qmkcm bgqàzfbds Xgzrtafo rg Jf: qkrm f `daf%

rkyd gtroggl izge Jff6 cf` jd igt`b mdzd> mrrx>''qqq.eggb{s.cge'zdsdfzcm'Eggb{s%bgqàzfbds%

Xgzrtafo%rg%Jf:%qkrm%f%`dafrkyd%gtroggl%izge7ofà5d`)c{5aogjfo)bgckb5XZW:::823

1


10/61

xzkefzko{ ntbadb g` rmd jfsks gi krs gq` it`bfed`rfos.

Qd `b codfz dykbd`cd gi sxkoogydz ddcrs< rmfr ks/ fs staadsrdb j{ Af`bd f`b

Xfzsod{ -:884+/ f zfrkàs cmfàd k` g`d cgt`rz{ mfs f ska`kcf`r ddcr g` sgydzdka`

czdbkr sxzdfbs gi grmdz cgt`rzkds.

Zdafzbodss gi qmdrmdz tskà S)X/ Eggb{s gz Ikrcm czdbkr zfrkàs/ rmd zdazdsskg`

f`fo{sks k`bkcfrds rmfr zfrkà dyd`rs cg`cdz`kà Azddl sgydzdka` jg`bs odfb rg srzgà

k`czdfsds gi sgydzdka` {kdobs k` Kzdof`b f`b Xgzrtafo f`b odss `grkcdfjod/ jtr srzgào{

srfrksrkcfoo{ ska`kcf r/ kexfcrs g` Krfo{/ Sxfk`/ Jdoakte f`b Izf`cd. Rmd sxkoogydz

ddcr izge Kzdof`b ks fosg dsrkefrdb rg jd sk~dfjod yks%%yks cgt`rzkds qkrm qdfl scfo

it`bfed`rfos/ formgtam rmd ddcr izge Azddcd ks ofzadz f`b xzdbgek`f`r.

Rmd dcg`gedrzkc srzfrda{ k`ygoyds igtz efk` srdxs. Ikzsr/ qd zt` srf`bfzb xzd%

okek`fz{ zdazdsskg`s/ qmkcm smgq rmfr gydz rmd Sdxrdejdz :88= % Ftatsr :866 xdzkgb

rmd sgydzdka` sxzdfbs fzd mkamo{ xdzsksrd`r f`b cf``gr jd d}xofk`db j{ rzfbkrkg`foyfzkfjods tsdb k` rmd okrdzfrtzd. Sdcg`b/ qd smgq rmfr t`kr zggr rdsrs g` sgydzdka`

sxzdfbs f`b rmdkz xgrd`rkfo bdrdzek`f`rs cf``gr jd zdndcrdb btzkà rmd czksks xdzkgb.

Rmkzb/ qd dsrkefrd rmd egbdo tskà cgk`rdazfrkg` edrmgbgogakds rg kbd`rki{ rmd xoft%

skjod sxdckcfrkg` -d.a. cgk rdazfrkg` rdsrs f`b b{`fekc GOS+. Igtzrm/ qd cg`srztcr

f Srztcrtzfo Ydcrgz Dzzgz Cgzzdcrkg` Egbdo -SYDCE+ jfsdb g` rmd b{`fekc GOS

dsrkefrds k` gzbdz rg fssdss rmd cftsfokr{ jdrqdd` sgydzdka` sxzdfbs f`b czdbkr zfrkàs

fs qdoo fs rmd cg`rfakg` zksl.

Rmd zdefk`bdz gi rmd xfxdz ks srztcrtzdb fs igoogqs> Sdcrkg` : smgqs rmfr rmd

d}ksrkà egbdo sxdckcfrkg`s k` rmd okrdzfrtzd cf``gr d}xofk` rmd bdydogxed`rs btzkàrmd czksks< Sdcrkg` 3 bdsczkjds rmd bfrf< Sdcrkg` 2 xzdsd`rs rmd zdstors izge rmd t`kr

zggr rdsrs/ rmd Xmkookxs%Gtokfzks cgk`rdazfrkg` rdsrs/ rmd b{`fekc GOS dsrkefrds f`b

rmd kexfcr gi czdbkr zfrkà smgcls g` {kdob sxzdfbs jfsdb g` cgt`rz{%sxdckc SYDCE -k+ f cmfàd k`

rmd efzldr fssdssed`r gi rmd t`bdzo{kà zksl -rmd bdjrgzs fzd zkslkdz rmf` xzdykgtso{

rmgtamr+ gz -kk+ f cmfàd k` rmd xzkcd gi zksl -igz f akyd` t`cmfàdb fegt`r gi zksl/

rmd cgexd`sfrkg` bdef`bdb j{ k`ydsrgz rg cfzz{ rmks zksl ks mkamdz jdcftsd gi mkamdz

zksl fydzskg`+.

Xf`do F gi Rfjod 6 smgqs rmd zdstors gi rmd jfsdok`d egbdo sxdckcfrkg` staadsrdb

j{ Ifydzg/ dr fo. -:868+ dsrkefrdb j{ rmd sddekào{ t`zdofrdb zdazdsskg` -STZ+edrmgb g` f sfexod gi bfko{ gjsdzyfrkg`s izge Sdxrdejdz 6/ :88= rg Ftatsr 2/ :866.

Rmd egbdo rflds rmd sxdckcfrkg` k` rmdkz Rfjod 2 -Ifydzg/ dr fo. -:868+/ xa. 6:9+>

[nk


12/61

rmd cgdckd`r gi rmd faazdafrd k`rdz`frkg`fo zksl ifcrgz ks srfrksrkcfoo{ ska`kcf`r gò{

k` rmzdd cfsds -Ftsrzkf/ Ikòf`b f`b rmd @drmdzof`bs+< -ky+ rmd jkb%fsl sxzdfbs fzd

xgskrkyd f`b srfrksrkcfoo{ ska`kcf`r k` sdyd` gtr gi `k`d cfsds -qmkod Ifydzg dr fo.

-:868+ `b kr ska`kcf`r k` igtz gtr gi dkamr cfsds+ qkrm sefoo cgdckd`rs rmfr zdsdejod

rmd cgdckd`rs dsrkefrdb j{ Ifydzg dr fo. -:868+< -y+ `foo{/ k` ok`d qkrm Ifydzg dr fo.

-:868+s m{xgrmdsks rmfr rmd dvtkokjzkte yfotd gi okvtkbkr{ rd`bs rg jd ogqdz k` qgzsd

faazdafrd srfrds/ rmd k`rdzfcrkg` jdrqdd` okvtkbkr{ f`b rmd faazdafrd zksl ifcrgz foqf{s

mfs f `dafrkyd kexfcr g` rmd {kdob bkdzd`rkfos/ formgtam rmd cgdckd`r ks srfrksrkcfoo{

ska`kcf`r f`b sefoo k` yd gtr gi `k`d cfsds.

Rmd cgdckd`rs g` rmd k`rdz`frkg`fo faazdafrd zksl ifcrgz ks ydz{ sefoo staadsrkà

rmfr kr cf``gr mdox k`rdzxzdrkà rmd smfzx bdydogxed`rs k` dtzg fzdf sgydzdka` sxzdfbs.

Xf`do J gi Rfjod 6 smgqs rmd zdstors gi rmd jfsdok`d egbdo sxdckcfrkg` staadsrdb

j{ Adzofcm/ dr fo. -:868+ dsrkefrdb j{ rmd STZ edrmgb. Rmd egbdo rflds rmdsxdckcfrkg` zdxgzrdb k` rmdkz Rfjod F%: -Adzofcm/ dr fo. -:868+/ xa. 28+>

[nk


13/61

Fzam{zgt f`b Lg`rg`klfs -:868+ fzatd rmfr rmd k`rdz`frkg`fo zksl ifcrgz -rmd oga

gi YK]+ f`b rmd cgt`rz{ s cgexdrkrkyd`dss -rmd oga gi rmd zdfo ddcrkyd d}cmfàd

zfrd bdfrdb j{ rmd cg`stedz xzkcd k`bd}+ cf` d}xofk` rmd bdydogxed`rs k` sgydzdka`

sxzdfbs gi foo dtzg fzdf cgt`rzkds gydz rmd eg`rmo{ xdzkgb Ftatsr :881%Fxzko :868.

Xf`do C gi Rfjod 6 smgqs rmd zdstors gi rmd jfsdok`d egbdo sxdckcfrkg` staadsrdb j{

Fzam{zgt f`b Lg`rg`klfs -:868+ dsrkefrdb j{ rmd STZ edrmgb. Rmd egbdo rflds rmd

sxdckcfrkg` zdxgzrdb k` rmdkz Rfjod 4 -Fzam{zgt f`b Lg`rg`klfs -:868+/ xa. 2:+/ jtr

qkrmgtr rmd cg`rdexgzf`dgts Azddl sxzdfb tsdb fs f zdazdssgz rg edfstzd cg`rfakg`/

akyd` rmfr qkrmk f eg`drfz{ t`kg` sgydzdka` sxzdfbs rd`b rg cgegyd f`b/ rmdzdigzd/

rmdzd ks f azdfr zksl gi sketorf`dkr{ jkfs/ qmkcm qgtob jkfs GOS dsrkefrdb cgdckd`rs

f`b srf`bfzb dzzgzs. Egzdgydz/ zfrmdz rmf` tskà rmd cgt`rz{s oga zdfo d}cmfàd zfrd/

qd oggl fr rmd zdofrkg`smkx jdrqdd` sgydzdka` sxzdfbs f`b zdofrkyd cgexdrkrkyd`dss/

`fedo{ rmd bkdzd`cd jdrqdd` rmd cgt`rz{s oga zdfo ddcrkyd d}cmfàd zfrd f`b rmdAdzef` oga zdfo ddcrkyd d}cmfàd zfrd/ -Vk


14/61

3.6 Jg`b {kdobs f`b CBS

Qd tsd 4%{dfz f`b 68%{dfz agydzèd`r jg`b {kdobs fs qdoo fs CBS g` 4%{dfz sd`kgz

bdjr/ qmkcm cged izge Rmgesg` Zdtrdzs Bfrfsrzdfe. Rmd zfrds fzd sdcg`bfz{ efz%

ldr {kdobs gi agydzèd`r jg`bs qkrm f zdefk`kà efrtzkr{ cogsd rg yd f`b rd` {dfzs.Rmd jg`b sxzdfbs fzd cgextrdb fs rmd bkdzd`cd jdrqdd` rmd sgydzdka` jg`b {kdob

f`b rmd Adzef` agydzèd`r jg`b qkrm rmd sfed zdskbtfo efrtzkr{. Rmd sxzdfbs fzd

edfstzdb k` jfsks xgk`rs. Rmd bfrf fzd cgoodcrdb fr rmd d`b gi rmd bf{ -sdd Ikatzds

6%:+. Rmd 4%{dfz {kdob f`b CBS fzd tsdb k` rmd zgjtsr`dss cmdcl sdcrkg`.

3.: Faazdafrd zksl

Qd tsd rmd 4%{dfz f`b 68%{dfz LiQ%Jt`b sxzdfbs/ qmkcm cged izge Joggejdza/

cgextrdb fs f rmd bkdzd`cd jdrqdd` rmd LiQ jg`b {kdob f`b rmd cgzzdsxg`bkàAdzef` agydzèd r jg`b {kdob/ rg edfstzd rmd zdakg`fo faazdafrd zksl ifcrgz. Rmks

sxzdfb cf` jd tsdb rg edfstzd kamr%rg%okvtkbkr{ f`b kamr%rg sfidr{/ jgrm xmd`ged`f

ad`dzfoo{ fssgckfrdb qkrm mkamdz zksl fydzskg`.

Sgydzdka` jg`b sxzdfbs ekamr fosg jd fdcrdb j{ aogjfo t`cdzrfk`r{/ qmkcm ks gird`

xzg}kdb j{ rmd TS cgzxgzfrd jg`b sxzdfbs -Cgbga`g/ dr fo./ :883< Adzofcm/ :868+ gz

rmd TS YK] -srgcl efzldr ygofrkokr{ k`bd}+. Rmd igzedz xdzigzes jdrrdz. Md`cd/ qd

tsd rmd bkdzd`cd jdrqdd` rmd TS rzkxod%J cgzxgzfrd jg`b xzgykbdb j{ Edzzkoo O{`cm

f`b TS Rzdfstz{ gi rmd sfed efrtzkr{ k` rmd efk` zdazdsskg`s f`b rmd YK] fs f

zgjtsr`dss cmdcl.Rmd bfrf fzd fyfkofjod k` Rmgesg` BfrfSrzdfe f`b rmd sxzdfbs fzd edfstzdb k`

jfsks xgk`rs. Rmd bfrf fzd cgoodcrdb fr rmd d`b gi rmd bf{ -sdd Ikatzd 2+.

3.3 Cgt`rz{%sxdckc zksl

3.3.6 Sgydzdka` bdiftor zksl

Agydzèd`r jtbadr bdckr. Dtzgsrfr xtjoksmds rqkcd f {dfz f `dqs zdodfsd qkrm

rmd jtbadr jfof`cd%ABX zfrkg gi foo Dtzgxdf` cgt`rzkds igz rmd xzdykgts {dfz. Qd

tsd rmks bfrf k` zdfo rked rg fssdss rmd kexfcr gi agydzèd r bdckr g` sxzdfbs

f`b CBS. Rmd bfrf fzd bksczdrd rked xzgcdssds f`b fzd cfod`bfzdb g` rmd bf{ gi

rmd xzdss zdodfsd -sdd Ikatzd 4+. Akyd rmd czdbkjkokr{ gi rmd czdbkrqgzrmk`dss gi rmd

Adzef` agydzèd`r/ kr cgtob jd fzatdb rmfr k`ydsrgzs bdckbd rmdkz xgzrigokg srzfrdakds

jfsdb g` rmd faazdafrd jtbadr bdckr skrtfrkg` k` rmd cgt`rz{ f`b `gr zdofrkydo{ rg

bdydogxed`rs gi rmd Adzef` jtbadr bdckr. Qd cg`skbdz jgrm cfsds f`b rmd zdstors

bg `gr cmfàd d}cdxr igz Krfo{/ qmdzd rmd sxzdfbs fzd cgzzdcro{ `dafrkydo{ zdofrdb

rg rmd Krfokf` jtbadr jfof`cd/ jtr xgskrkydo{ zdofrdb rg rmd bkdzd`rkfo jdrqdd` rmd

Krfokf` f`b rmd Adzef` jtbadr jfof`cds. Rmd gydzfoo zdstors g` foo grmdz yfzkfjods

fzd `gr egbkdb< rmdzdigzd rg sfyd sxfcd qd smgq gò{ rmd `bkàs t`bdz rmd zsr

6:


15/61

m{xgrmdsks.62

Sgydzdka` zfrkàs. Czdbkr zfrkàs xzgykbd f` fssdssed`r gi rmd okldokmggb gi bd%

iftor/ qkrm rmd czkrdzkf igz f zfrkà fssdssed`r igz f`{ sgydzdka` jfsdb g` f ofzad

sdr gi k`bkcfrgzs/ qmkcm k`cotbd rmd fssdssed`r gi rmd xtjokc `f`cd skrtfrkg` -xfsr

b{`fekcs rmzgtam bdjr odydos/ ctzzd`r b{`fekcs rmzgtam jtbadr bdckr f`b itrtzd

b{`fekcs rmzgtam d.a. rmd xd`skg` okfjkokrkds+/ k`rdzdsr zfrd odydos/ azgqrm xzgsxdcr/

f`b rmd agydzèd`rs cgeekred`r rg zdxf{.

Rmd{ cf` fdcr `f`ckfo efzldrs/ fs rmd{ xggo rmd kìgzefrkg` g` rmd czdbkrqgz%

rmk`dss gi rmd cgt`rz{. Egzdgydz/ k`srkrtrkg`fo k`ydsrgzs/ stcm fs xd`skg` it`bs f`b

k`stzdzs/ fzd gjokadb j{ ofq gz rmdkz gq` srfrtrds rg xtzcmfsd f`b mgob jg`bs qkrm f

cdzrfk` ek`kete zfrkà. Skekofzo{/ jf`ls xgzrigokgs bdxd`b txg` rmd czdbkr zfrkàs

g` rmd fssdrs rmd{ mgob btd rg zdatofrgz{ zdvtkzded`rs. Rmdzdigzd/ rmdkz bdckskg`s cfàd`dzfrd f ska`kcf`r xgzrigokg smkir/ qmkcm cf` rzkaadz f zdfcrkg` g` sxzdfbs.

Rmd rmzdd efk` zfrkà fad`ckds/ S)X/ Eggb{s f`b Ikrcm/ tsd skekofz zfrkà scfods

qkrm rmd jdsr vtfokr{ ksstdzs zdcdkykà f rzkxod%F `grfrkg`. Fs gird` cfzzkdb gtr k`

rmd okrdzfrtzd -sdd igz d}fexod Af`bd f`b Xfzsod{/ :884< f`b Fig`sg dr fo./ :866+/

qd rzf`sigze rmd sgydzdka` czdbkr zfrkà kìgzefrkg` k`rg f bksczdrd yfzkfjod rmfr

cgbkds rmd bdckskg` gi rmd zfrkà fad`ckds tskà f ok`dfz scfod fs bdxkcrdb k` Rfjod F6

k` rmd Fxxd`bk}. Rmd zfrkàs fzd azgtxdb k`rg :: cfrdagzkds izge 6 -rzkxod%F+ rg ::

-bdiftor+. Qd fosg rfld k`rg cg`skbdzfrkg` rmd cmfàds k` rmd czdbkr gtroggl f`b czdbkr

qfrcm. Zfrkà fad`ckds sgedrkeds ogqdz rmd czdbkr gtroggl f`b rmd` xtr f cgt`rz{t`bdz czdbkr qfrcm/ sgedrked bg rmd gxxgskrd. Rmd sdcg`b egyd mfs ad`dzfoo{ ogqdz

kexfcr zdofrkyd rg rmd zsr egyd. Rmdzdigzd/ rmd zsr `dafrkyd `dqs -dkrmdz gtroggl gz

qfrcm+ ks sdr dvtfo rg ,8.4/ qmkod rmd sdcg`b jfb `dqs ks sdr dvtfo rg ,8.:4< skekofzo{/

rmd zsr xgskrkyd `dqs -dkrmdz gtroggl gz qfrcm+ ks sdr dvtfo rg %8.4/ qmkod sdcg`b aggb

`dqs ks sdr dvtfo rg %8.:4. Rmd bfrf fzd bksczdrd rked xzgcdssds.

Fs bdxkcrdb k` Ikatzd 9/ rmd czdbkr zfrkà kìgzefrkg` igz Azddcd qgzsd`db bzf%

efrkcfoo{ gydz rmd dsrkefrkg` xdzkgb -:88=%:866+ igoogqdb j{ Kzdof`b f`b Xgzrtafo.

Sxfk` fosg stdzdb izge sdydzfo bgqàzfbds g` krs bdjr/ qmkod Krfo{ f`b Jdoakte

zdcdkydb gò{ g`d `dafrkyd czdbkr gtroggl gydz rmd sfexod xdzkgb.

3.3.: Okvtkbkr{ f`b it`bk a zksls

Rg fssdss rmd zgod gi okvtkbkr{ zksl ifcrgzs/ qd tsd fs f xzg}{ gi okvtkbkr{ zksl rmd jg`b%

sxdckc jkb%fsl sxzdfbs gi rmd cgzzdsxg`bkà efrtzkr{ -Ifydzg/ dr fo./ :868< Adzofcm/

dr fo./ :868+. Rmd bfrf fzd cgoodcrdb fr rmd d`b gi rmd bf{ tskà Rmgesge Zdtrdzs

Bfrfsrzdfe -sdd Ikatzd F6 k` rmd Fxxd`bk}+.

62 Foo rmd zdstors qkrm jtbadr jfof`cd bkdzd`rkfos f`b zgjtsrd`dss cmdcls bksctssdb f`b zdxgzrdb

k` rmd `d}r Sdcrkg` fzd fyfkofjod txg` zdvtdsr.

63


16/61

Fs f` fordz`frkyd edfstzd gi okvtkbkr{ zksl/ qd fosg tsd rmd fcrtfo rzfbkà ygoted

g` rmd dodcrzg`kc xofrigze ERS/ qmkcm cgydzs fjgtr 64%:8$ gi rmd dtzg fzdf sgydzdka`

jg`b efzldr/ xzgykbdb j{ DtzgERS.64

Rg fssdss rmd zgod gi it`bkà zksl/ qd tsd rmd `dq ksstf`cd gi agydzèd`r ogà%

rdze jg`b xzgykbdb g` f eg`rmo{ jfsks j{ rmd Dtzgxdf` Cd`rzfo Jf`l -sdd Ikatzd

F: k` rmd Fxxd`bk}+.

Rmd jkb%fsl sxzdfb bkdzd`rkfos fzd cgextrdb fs rmd bkdzd`cd jdrqdd` rmd jkb%

fsl sxzdfb gi cgt`rz{ k f`b Adzef`{. Fs zdafzb rmd ygoteds/ akyd` rmfr rmd{ fzd gq

edfstzds/ qd tsd rmd zfrkg jdrqdd` rmd rzfbkà ygoted gi sgydzdka` k f`b Adzef`{.

3.2 Cg`rfakg` zksl

Cg rfakg` ks f skrtfrkg` qmdzdj{ k`srfjkokr{ k` f sxdckc efzldr ks rzf`sekrrdb rg g`d

gz sdydzfo grmdz efzldrs. Igoogqkà Af`bd f`b Xfzsod{ -:884+/ qd fssdss qmdrmdz f

zfrkà cmfàd k` Azddcd/ Kzdof`b f`b Xgzrtafo mfs f ska`kcf`r ddcr g` sgydzdka`

czdbkr sxzdfbs gi grmdz cgt`rzkds.

3.4 Fbbkrkg`fo bfrf igz zgjtsr`dss

Jg`b {kdobs cgtob jd bzkyd` j{ d}xdcrdb k`frkg` f`b zdfo ABX azgqrm -Oftjfcm/

:88;+. Akyd` rmd okekrdb bfrf fyfkofjkokr{ fr cgt`rz{ odydo igz ogà%mgzk~g`/ qd dexog{

rmd g`d%{dfz%fmdfb cg`sd`sts igzdcfsr gi k`frkg` f`b zdfo ABX azgqrm rg cg`rzgo igz

rmd ddcrs gi rmd jtsk`dss c{cod.Dtzgsrfr xtjoksmds rqkcd f {dfz f `dqs zdodfsd qkrm rmd agydzèd`r bdjr gi foo

Dtzgxdf` cgt`rzkds igz rmd xzdykgts {dfz. Qd tsd rmks bfrf k` zdfo rked rg fssdss rmd

kexfcr gi agydzèd`r bdjr. Rmd bfrf fzd bksczdrd rked xzgcdssds f`b fzd cfod`bfzdb

g` rmd bf{ gi rmd xzdss zdodfsd.

Qd fosg cg`skbdz rmd Dtzgxdf` Cgeeksskg` atzds/ qmkcm xtjoksmds igzdcfsrs

fjgtr scfo bdckr igz foo Dtzgxdf` cgt`rzkds rqkcd f {dfz k` sxzkà f`b k` ftrte`.

Izge rmd sxzkà zdodfsd/ qd tsd rmd fydzfad xzdbkcrkg` igz rmd ctzzd`r {dfz f`b rmd

igoogqkà {dfz< izge rmd ftrte` zdodfsd/ qd tsd fydzfad xzdbkcrkg` igz rmd ctzzd`r

{dfz f`b rmd `d}r rqg igoogqkà {dfzs.

Rmd zdfo ddcrkyd d}cmfàd zfrds bdfrdb j{ rmd cg`stedz xzkcd k`bd} f`b rmd

jf`l fssdrs rg ABX zfrkg tsdb k` rmd xzdykgts sdcrkg` fzd xzgykbdb j{ rmd Dtzgxdf`

Cd`rzfo Jf`l.

2 Srtb{kà rmd odydo gi sgydzdka` {kdob sxzdfbs

Dtzg fzdf ogà%rdze agydzèd`r jg`b {kdobs zdofrkyd rg rmd Adzef` Jt`b fzd cmfz%

fcrdzk~db j{ mkamo{ xdzsksrd`r xzgcdssds btzkà rmd `f`ckfo czksks -sdd rmd dsrkefrdb64 Bfrf cf``gr jd smgq` k` fazdded`r qkrm DtzgERS.

62


17/61

cgdckd`rs g` rmd gq` ofa zdxgzrdb k` Rfjod 6+ qkrm f codfz txqfzb rzd`b igz egsr

gi sgydzdka` sxzdfbs -sdd Xf`do F gi Ikatzd 6+.

Ki qd dexog{db rmd srf`bfzb fxxzgfcm gi rmd okrdzfrtzd zdxgzrdb k` rmd xzdyk%

gts sdcrkg`/ qmkcm cg`sksrs gi dsrkefrkà f` ftrgzdazdsskyd xzgcdss qkrm ifcrgzs rmfr

smgtob cfxrtzd faazdafrd zksl/ czdbkr zksl f`b okvtkbkr{ zksl/ qd qgtob zt` rmd zksl gi

dsrkefrkà sxtzkgts zdofrkg`smkxs. Azfàdz -:886+ f`b Azfàdz/ dr fo. -:886+ mfyd

dexmfsk~db rmfr sxtzkgts dsrkefrdb zdofrkg`smkxs cf` gcctz fosg jdrqdd` srfrkg`fz{/

jtr mkamo{ ftrgcgzzdofrdb yfzkfjods.

Dckd`r kìdzd`cd k` rked%sdzkds dcg`gedrzkcs zdvtkzds rflkà k`rg fccgt`r gi rmd

sxdckc xmd`ged`g` kootsrzfrdb k` Xf`do F gi Ikatzd 6. Rmks foogqs igz rmd xgsskjkokr{

rmfr rmd odydo gi sgydzdka` {kdob sxzdfbs ef{ jd ok`ldb rg rmd zksl ifcrgzs/ kexo{kà

rmfr ok`dfz cgejk`frkg`s gi rmde fzd cgk`rdazfrdb. K` grmdz qgzbs/ qd fke fr `bkà

rmd dvtkokjzkte zdofrkg`smkx jdrqdd` {kdob sxzdfbs f`b zksl ifcrgzs/ stcm rmfr fcrtfogjsdzyfrkg`s bdykfrd izge rmks dvtkokjzkte k` f ~dzg%edf` srfrkg`fz{ xzgcdss.

Cmdtà f`b Ofk -6;;3+ xgk`r rg sdydzfo `krd sfexod smgzrcgekàs g` rmd okld%

okmggb zfrkg rdsrs igz cgk rdazfrkg` staadsrdb j{ Ngmf`sd` -6;==+. Rmd{ igt`b rmfr

Ngmf`sd`s rdsrs fzd jkfsdb rgqfzbs `bkà cgk`rdazfrkg` egzd gird` rmf` qmfr fs%

{exrgrkc rmdgz{ staadsr. Rmdzdigzd/ qd rdsr qmdrmdz rmd yfzkfjods mfyd f cgeeg`

rzd`b zt``kà Xmkookxs%Gtokfzks -6;;8+ cgk`rdazfrkg` rdsrs g` rmd zdazdsskg` dzzgzs/ ts%

kà bfko{ gjsdzyfrkg`s gydz rmd `f`ckfo czksks xdzkgb srfzrkà izge 6 Sdxrdejdz :88=

tx rg 2 Ftatsr :866.

Egzdgydz/ rmd `krd sfexod xdzigzef`cd gi b{`fekc gzbk`fz{ odfsr svtfzds -BGOS+/fs staadsrdb j{ Srgcl f`b Qfrsg` -6;;3+/ ks igt`b rg jd s{srdefrkcfoo{ jdrrdz rmf`

grmdz dsrkefrgzs -Eg`rfoyg/ 6;;4+. Rmdzdigzd/ qd dexog{ rmd BGOS edrmgb rg dsrk%

efrd rmd cgdckd`rs f`b srf`bfzb dzzgzs.

Rmks sdcrkg` cg`rfk`s igtz stjsdcrkg`s. Qd jdak` j{ bksxof{kà rmd t`kr zggr rdsrs.

Rmd`/ qd bdsczkjd rmd cgk`rdazfrkg` rdsrs. K` rmd rmkzb stjsdcrkg` qd dsrkefrd rmd

xfzfedrdzs qkrm rmdkz zgjtsr srf`bfzb dzzgzs tskà BGOS. K` rmd igtzrm stjsdcrkg`/

qd srtb{ cftsfokr{ jdrqdd` zfrkà f`b {kdob sxzdfbs j{ edf`s gi kextosd zdsxg`sd

it`crkg`s.

2.6 T kr zggr rdsrs

Rfjod : zdxgzrs yfotds igz rmd k`rdzcdxr f`b sogxd cgdckd`rs izge f` gzbk`fz{ odfsr

svtfzds -GOS+ zdazdsskg` gi dfcm yfzkfjod g` f cg`srf`r f`b krs gq` ofaadb yfotd/ rg%

adrmdz qkrm rmd Xmkookxs%Xdzzg` -6;;=+ rdsr srfrksrkcs/ qmkcm cgzzdcrs rmd cg`yd`rkg`fo

r%srfrksrkcs igz rdsrkà rmd `too m{xgrmdsks gi f t`kr zggr igz sdzkfo cgzzdofrkg` k` rmd

zdazdsskg` dzzgz tskà @dqd{%Qdsrs -6;=1+ dsrkefrgz gi rmd dzzgz yfzkf`cd. Rfjod :

fosg zdxgzrs rmd EÂOS srfrksrkc izge @a f`b Xdzzg` -:886+/ qmkcm ks bdska`db rg

mfyd jdrrdz sk~d f`b xgqdz xzgxdzrkds rmf` rmd igzedz.Rmd srf`bfzb t`kr zggr rdsrs/ stcm fs Xmkookxs%Xdzzg` f`b @A%Xdzzg` rdsrs -jtr

64


18/61

fosg rmd ftaed`rdb Bkcld{%Itoodz rdsr+/ fxxokdb rg dfcm gi rmd yfzkfjods rfld` k`rg

cg`skbdzfrkg`/ k`bkcfrd rmfr rmd `too m{xgrmdsks gi f t`kr zggr fxxokdb gydz rmd Sdx%

rdejdz :88= % Ftatsr :866 xdzkgb cf``gr jd zdndcrdb/ d}cdxr igz rmd okvtkbkr{'it`bkà

edfstzds -rmd jkb%fsl sxzdfbs/ ERS rzfbkà ygoteds f`b rmd `dq ksstf`cd gi agy%

dzèd`r bdjr+ f`b rmd TS srgcl efzldr kexokdb ygofrkokr{.69 Rmdsd zdstors xfyd rmd

qf{ igz rdsrs gi cgk`rdazfrkg` jdrqdd` rmd fxxfzd`ro{ `g`srfrkg`fz{ yfzkfjods.

2.: Cgk rdazfrkg` rdsrs

Qd srtb{ rmd cgk rdazfrkà zdofrkg`smkx jdrqdd` dtzg fzdf sgydzdka` sxzdfbs/ rmd

LiQ%Jt`b sxzdfb -zdakg`fo faazdafrd zksl ifcrgz+/ rmd TS cgzxgzfrd jg`b sxzdfb

-k`rdz`frkg`fo faazdafrd zksl ifcrgz+/ rmd cgt`rz{s scfo bdckr f`b rmd czdbkr zfrkà

zdykdqs -cgt`rz{s czdbkr zksl ifcrgzs+ f`b rmd czdbkr zfrkà zdykdqs izge srzfk`db

cgt`rzkds -rmd sxkoogydz ddcr+.

Foo sxdckcfrkg`s k`cotbd f btee{ yfzkfjod g` Eg`bf{ 68 Ef{ :868/ akyd` rmd

kexfcr g` sxzdfbs g` rmfr bf{ zdstorkà izge rmd DCJ Agydz`kà Cgt`cko f``gt`cd%

ed`r btzkà rmd qddld`b gi rmd Sdctzkrkds Efzldrs Xzgazfeed -SEX+/ cg`rdexofrkà

xtzcmfsds gi dtzg fzdf agydzèd`r jg`bs qkrm rmd fke gi d`mf`ckà bdxrm f`b okv%

tkbkr{ k` b{sit`crkg`fo efzldrs f`b zdsrgzkà f` fxxzgxzkfrd eg`drfz{ rzf`seksskg`

edcmf`kse. Mgqdydz/ rmd zdstors fzd k`bdxd`bd`r izge rmks fbbkrkyd yfzkfjod.

Rmd Xmkookxs%Gtokfzks -6;;8+ rdsr igz cgk`rdazfrkg` ks jfsdb g` rmd zdskbtfos gi

f` GOS zdazdsskg` ok`lk a rmd `g`srfrkg`fz{ -xgsskjo{ cgk rdazfrdb+ yfzkfjods. Egzd

xzdcksdo{/ kr ks jfsdb g` rmd sogxd cgdckd r izge f` GOS zdazdsskg` gi rmdsd zdskbtfos

g` rmdkz gq` ofaadb yfotds. Ki rmd `too m{xgrmdsks gi f t`kr zggr k` rmd zdazdsskg` dzzgz

cf` jd zdndcrdb/ rmd` rmd t`bdzo{kà dvtfrkg` zdxzdsd`rs f cgk`rdazfrkà zdofrkg`smkx>

f srfrkg`fz{ ok`dfz cgejk`frkg` gi rmd mkamo{ ftrgcgzzdofrdb yfzkfjods.

Rfjod 3 bksxof{s rmd zdstors fssgckfrdb qkrm rmdsd Xmkookxs%Gtokfzks rdsrs> rmd k`%

rdzcdxr f`b sogxd cgdckd`rs izge f ok`dfz zdofrkg`smkx gi 68%{dfz sgydzdka` sxzdfbs

f`b yfzkgts yfzkfjods/ rmd sogxd cgdckd`r -FZ6 sogxd+ izge zdazdsskg` gi rmd dzzgz

rdze g` krs gq` ofaadb yfotd -qkrmgtr f cg`srf`r sk`cd rmd dzzgz mfs edf` ~dzg+/ f`b

rmd Xmkookxs%Gtokfzks srfrksrkc ^r igz yfotds gi rmd @dqd{%Qdsr -6;=1+ ofa rzt`cfrkg`xfzfedrdz sdr dvtfo rg sk}.61

Xf`do F gi Rfjod 3 bksxof{s rmd Xmkookxs%Gtokfzks rdsrs/ qmd` zdazdsskà rmd 68%

{dfz sgydzdka` sxzdfbs fafk`sr rmd agydzèd`r jtbadr jfof`cd%ABX zfrkg. Rmd dzzgz

rdzes fzd `g`srfrkg`fz{.

Ki k`srdfb rmd 68%{dfz sgydzdka` sxzdfbs fzd zdazdssdb fafk`sr rmd 68%{dfz LiQ%

Jt`b sxzdfb/ rmd dzzgz rdzes zdefk` `g`srfrkg`fz{ igz rmd cgt`rzkds qkrm qdfl s%

69 Rmd sgtzcd gi `g`%srfrkg`fzkr{ igz sged yfzkfjods cgtob jd cfxrtzdb j{ f bdrdzek`ksrkc it`crkg`

gi rked. Qd mfyd fosg rdsrdb igz rzd`b srfrkg`fzkr{ k` rmd bfrf/ jtr rmd t`kr zggr rdsrs cf``gr jd

zdndcrdb.61 Rmd zdstors fzd k`yfzkf`r rg grmdz ofa rzt`cfrkg` xfzfedrdz yfotds.

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19/61

cfo it`bfed`rfos -sdd Xf`do J+< qmkod rmd{ fzd srfrkg`fz{ fccgzbkà rg rmd Xmkookxs%

Gtokfzks rdsrs igz Ftsrzkf/ Ikòf`b f`b rmd @drmdzof`bs staadsrkà f cgk`rdazfrkà

zdofrkg`smkx jdrqdd` 68%{dfz sgydzdka` sxzdfbs igz rmdsd cgt`rzkds f`b rmd zdakg`fo

zksl ifcrgz.

Xf`do C bksxof{s rmd Xmkookxs%Gtokfzks rdsrs/ qmd` zdazdsskà rmd 68%{dfz sgydzdka`

sxzdfbs fafk`sr rmd agydzèd`r jtbadr jfof`cd%ABX zfrkg f`b rmd 68%{dfz LiQ%

Jt`b sxzdfb. Rmd dzzgz rdzes jdcged srfrkg`fz{ igz Izf`cd/ jtr `gr igz foo grmdz

cgt`rzkds qkrm qdfl scfo it`bfed`rfos.

Xf`do B bksxof{s rmd Xmkookxs%Gtokfzks rdsrs/ qmd` zdazdsskà rmd 68%{dfz sgydzdka`

sxzdfbs fafk`sr rmd agydzèd`r jtbadr jfof`cd%ABX zfrkg/ rmd 68%{dfz LiQ%Jt`b

sxzdfb/ rmd cgt`rz{s czdbkr zfrkàs -d}cotbkà Ftsrzkf/ Ik of`b/ Izf`cd f`b rmd

@drmdzof`bs/ qmkcm bkb `gr sdd rmdkz zfrkàs cmfàd gydz rmd sfexod xdzkgb+ f`b

rmd Azddl czdbkr zfrkàs. Rmd yfotds gi rmd Xmkookxs%Gtokfzks rdsrs jdcged srzgào{`dafrkyd f`b rmd dzzgz rdzes gi rmd cgk`rdazfrkà zdofrkg`smkx igz Azddcd/ Kzdof`b/

Xgzrtafo/ Jdoakte/ Krfo{ f`b Sxfk` jdcged srfrkg`fz{. Fosg rmd Xmkookxs%Gtokfzks

rdsrs igz Izf`cd kexzgyds izge %2.41; rg %4.=62/ jtr rmd srfrkc cgdckd`r g` rmd scfo

jfof`cd jdcgeds etcm sefoodz. Rmks staadsrs rmfr rmd Azddl czdbkr zfrkàs xof{ f`

kexgzrf`r zgod fosg igz Izf`cd< f` ksstd rmfr ks itzrmdz k`ydsrkafrdb tskà rmd BGOS

dsrkefrkg`.

Rmdsd zdstors fzd cgzzgjgzfrdb qmd` tskà Eggb{s -sdd Xf`do D+ gz Ikrcm -sdd

Xf`do I+ czdbkr zfrkàs/ staadsrkà rmfr sgydzdka` sgoyd`c{ zksl ddcr f`b rmd sxkoogydz

ddcr izge Azddcd fzd ydz{ zdodyf`r rg d}xofk` bdydogxed`rs k` sxzdfbs.Rmd scfo jfof`cd xof{s f ek`gz zgod qmd` k`cotbkà czdbkr zfrkàs. Qmd` srtb{kà

rmd cgk`rdazfrkg` fegà rmd fjgyd ed`rkg`db yfzkfjods qkrm rmd d}cotskg` gi rmd scfo

yfzkfjod/ rmd `too m{xgrmdsks gi f t`kr zggr k` rmd dzzgz cf` jd zdndcrdb igz foo cgt`rzkds/

d}cdxr Azddcd -sdd Xf`dos A%K+< formgtam rmd `too m{xgrmdsks cf` jd zdndcrdb fosg k`

rmd cfsd gi Azddcd ki tskà Eggb{s bdckskg`s.

Ik`foo{/ rmd zdstors fzd `gr bksskekofz qmd` stjsrkrtrkà rmd dtzg fzdf faazdafrd

zksl ifcrgz qkrm rmd k`rdz`frkg`fo zksl ifcrgz -cgexfzd Xf`dos B%I qkrm Xf`dos N%O+.

Rmks ks jdcftsd rmd{ cgegydb srzgào{ tx rg d`b :88;. Mgqdydz/ rmd BGOS dsrkefrds

xzdsd`rdb k` rmd `d}r sdcrkg` smgq rmfr rmd zdakg`fo ifcrgz bgek`frds rmd k`rdz`frkg`fo

ifcrgz/ qkrm rmd d}cdxrkg` gi Azddcd f`b Sxfk` qmdzd jgrm ifcrgzs xof{ f zgod.

2.3 B{`fekc GOS

Akyd` rmd stccdss gi rmd sxdckcfrkg`s bksxof{db k` Rfjod 3/ qd srtb{ rmd cgk`rdazfrkà

zdofrkg`smkx jdrqdd` rmd `g`%srfrkg`fz{ yfzkfjods. Rmd BGOS edrmgb k`ygoyds fta%

ed`rkà rmd cgk`rdazfrkà zdazdsskg` qkrm ofas f`b odfbs gi]k


20/61

zdazdssgz k``gyfrkg`s>

[nk


21/61

Rmd dsrkefrdb LiQ%Jt`b sxzdfb dofsrkckrkds bkdz ska`kcf`ro{ izge ~dzg. Rmks

dofsrkckr{ edfstzds rmd sd`skrkykr{ rg xgzrigokg smkirs egrkyfrdb j{ rmd `ddb igz

okvtkb/ sfid mfyd` fssdrs. Rmks d}xofk s qm{ rmd cgdckd`r g` rmks zksl ifcrgz

ks ofzadz k` Kzdof`b -3.2+/ Azddcd -:.9+ f`b Xgzrtafo -:.6+/ qmkcm stdzdb egsr

izge rmd Dtzgxdf` sgydzdka` bdjr czksks/ igoogqdb j{ Krfo{ -6.4+ f`b Sxfk` -6.2+ S)Xs czdbkr zfrkàs igz Azddcd/ S)Xs czdbkr zfrkàs igz

rmd cgt`rz{/ 68%{dfz LiQ%Jt`b sxzdfb f`b 68%{dfz sgydzdka` sxzdfb. Rmd gzbdzkà

srztcrtzd gi rmd yfzkfjods igz Izf`cd ks fs igoogqs> S)Xs czdbkr zfrkàs igz Azddcd/

agydzèd`r jtbadr bdckr igz rmd cgt`rz{/ 68%{dfz LiQ%Jt`b sxzdfb f`b 68%{dfz

sgydzdka` sxzdfb. Qd tsd f YFZ qkrm igtz yfzkfjods igz foo cgt`rzkds igz cg`sksrd`c{.

Rmd zdstors zdxgzrdb k` Ikatzd ; staadsr rmfr sgydzdka` sxzdfbs fzd srzgào{ fi%

idcrdb j{ t`d}xdcrdb bdydogxed`rs k` czdbkr zfrkàs k` Azddcd. G`d t`d}xdcrdb `grcm

bgqàzfbd g` rmd Azddl sgydzdka` bdjr kexokds f` fcctetofrdb zksd k` {kdob sxzdfbsfirdz sk}r{ jtsk`dss bf{s fegt`rkà zdsxdcrkydo{ rg fjgtr 28 jfsks xgk`rs k` Xgzrt%

afo/ :4 jfsks xgk`rs k` Sxfk`/ :8 jfsks xgk`rs k` Kzdof`b/ 64 jfsks xgk`rs k` Krfo{/ 1

jfsks xgk`rs k` Jdoakte f`b 3 jfsks xgk`rs k` Izf`cd. Rmdsd zdstors fzd foo srzgào{

srfrksrkcfoo{ ska`kcf`r cgzzgjgzfrkà rmd cg`rfakg` zksl d}xof`frkg`.

Kr ks fosg tsdito rg xgk`r gtr rmfr rmd dsrkefrdb s{srdes fzd srfjod fs rmd dzzgz

cgzzdcrkg` rdzes edf`%zdydzr qkrm rmd xzgxfafrkg` gi rmd smgcls.

Rmd zdstors fafk` fzd ydz{ skekofz ki qd fbb rmd k`rdz`frkg`fo zksl ifcrgz k` rmd

YFZ gz ki qd cmfàd rmd gzbdzkà srztcrtzd gi rmd yfzkfjods.

:4


28/61

4 Cg`cotskg`s

Rmd dtzg fzdf sgydzdka` bdjr czksks jzgtamr igzqfzb k` rmd bdjfrd rmd kexgzrf`cd gi

rmd sfid fssdrs/ rmd sgydzdka` sgoyd`c{ zksl k` cgt`rzkds qkrm qdfl scfo it`bfed`rfos

f`b rmd zksl gi cg`rfakg` fegà dtzg fzdf cgt`rzkds sgydzdka` sxzdfbs.

Rmd dexkzkcfo egbdo foogqs rg vtf`rki{ rmd zgod gi zdakg`fo ydzsts k`rdz`frkg`fo

zksl ifcrgzs/ rmd sgydzdka` sgoyd`c{ zksl ddcr f`b rmd sxkoogydz ddcr izge rmd srzfk`db

cgt`rzkds.

Ikzsr/ qd smgq rmfr sxzdfbs igz Ftsrzkf/ Ikòf`b f`b rmd @drmdzof`bs bdxd`bs

ofzado{ g` rmd mkamdz bdef`b igz Adzef` sgydzdka` jg`bs btzkà rmd czksks. Rmks ke%

xokds rmfr rmdkz sxzdfbs qgtob jdcged egzd srfjod/ fs rmd zdakg`fo `f`ckfo rtzjtod`cd

d`bs f`b zksl fydzskg` zdrtz` rg `gzefokr{.

Sdcg`b/ rmd dcg`gedrzkc dykbd`cd staadsrs rmfr sgydzdka` czdbkr zksl/ xzg}kdb j{

czdbkr zfrkà kìgzefrkg`/ ks srfrksrkcfoo{ ska`kcf`r/ dcg`gekcfoo{ sk~dfjod f`b ks fs%

sgckfrdb qkrm mkamdz {kdob sxzdfbs k` Azddcd/ Kzdof`b/ Xgzrtafo f`b Sxfk`.

Rmd dexkzkcfo f`fo{sks fosg zdydfos rmfr g`d%`grcm bgqàzfbd gi sgydzdka` jg`bs

k` Azddcd/ Kzdof`b f`b Xgzrtafo ks fssgckfrdb qkrm f zksd k` sxzdfbs k` grmdz sgydzdka`

sxzdfbs -sxkoogydz ddcr+ qkrm qdfl scfo it`bfed`rfos/ formgtam rmd sxkoogydz ddcr

izge Azddcd ks etcm srzgàdz. Rmd dsrkefrdb sxkoogydz ddcr izge Azddcd f`b rmd

kextosd zdsxg`sd it`crkg`s xgk`rs rg sdydzd cg`rfakg` zksl mkrrkà xfzrkctofzo{ Kzdof`b/

Xgzrtafo/ Krfo{/ Sxfk`/ Jdoakte f`b Izf`cd.

Ki jgrm zfrkà fad`ckds f`b efzldr f`fo{srs fssdss rmd sfed sdr gi kìgzefrkg`/ krcgtob jd fzatdb rmfr fssdr xzkcd egyded`rs f`b czdbkr zfrkàs smgtob ngk`ro{ bdxd`b

g` it`bfed`rfo ifcrgzs. Qd bg `gr d`rdz k` stcm bksctsskg`. Mgqdydz/ f czdbkr zdykdq

cf` mfyd f` kexfcr g` jg`b {kdobs igz rqg zdfsg`s. Ikzsr/ egsr okldo{ efzldr f`fo{srs

qfkr igz f xzgxdz zd%dofjgzfrkg` gi rmd fyfkofjod kìgzefrkg` cfzzkdb gtr j{ rmd zfrkà

fad`ckds jdigzd foogcfrkà fssdrs. Sdcg`b/ k`srkrtrkg`fo k`ydsrgzs fzd gjokadb rg mgob

jg`bs qkrm f ek`kete zfrkà< qmkod jf`ls mfyd rg eddr cfxkrfo zdvtkzded`rs sdr j{

zdatofrgzs f`b cf` gò{ tsd mkam vtfokr{ fssdrs fs cgoofrdzfo rg gjrfk` czdbkr izge rmd

cd`rzfo jf`l/ jgrm fsxdcrs jfsdb g` czdbkr zfrkàs s{srdes.

Fs igz rmd it`bfed`rfo ifcrgzs/ rmd egbdo cg`rzgos igz ctzzd`r f`b igzdcfsrs giagydzèd`r jtbadr bdckr/ agydzèd`r xtjokc bdjr/ cg`sd`sts igzdcfsrs gi k`frkg`

f`b zdfo ABX azgqrm/ cgt rzkds okvtkbkr{ zksl ifcrgzs/ zdakg`fo f`b k`rdz`frkg`fo

faazdafrd zksl ifcrgzs. Rmd sgydzdka` sgoyd`c{ zksl ddcr f`b rmd sxkoogydz ddcr izge

Azddcd jgrm dsrkefrdb rmzgtam czdbkr zfrkàs zdefk` kexgzrf`r rg d}xofk` sgydzdka`

sxzdfbs btzkà rmd `f ckfo czksks. Rmks ks rmd cfsd bdsxkrd rmd czdbkr zfrkàs fzd

bksczdrd/ qmkcm kexokds rmfr qd ef{ t`bdzdsrkefrd rmd zdofrkyd kexgzrf`cd gi czdbkr

zksl/ fs f`{ kìzfefzak`fo egyded`rs k` czdbkr qgzrmk`dss fzd `gr cfxrtzdb j{ rmdsd

zfrkàs. Codfzo{/ cftsfrkg` ef{ `gr gò{ zt` izge zfrkàs rg sgydzdka` sxzdfbs/ jtr

fosg izge sgydzdka` sxzdfbs rg zfrkàs. K` ifcr/ czdbkr zfrkàs zdsxg`b rg bdydogxed`rs

k` sgydzdka` sxzdfbs. Gydzfoo/ mgqdydz/ qd `b rmfr zfrkà zdykdqs mfyd srzgào{

:9


29/61

fdcrdb rmd dtzg fzdf sgydzdka` bdjr efzldr.

Ik`foo{/ qd `b rmfr rmd k`rdz frkg`fo faazdafrd zksl ifcrgz mfs `gr jdd` rmd

yfzkfjod rmfr cf` d}xofk` rmd czksks f`b rmfr okvtkbkr{ zksl mfs xof{db f efzak`fo zgod.

Izge f xgokc{%eflkà xgk`r gi ykdq/ rg sfidatfzb rmd srfjkokr{ gi rmd dtzg fzdf

`f`ckfo s{srde/ rmd mkamdsr xzkgzkrkds fzd rg zdbtcd rmd sgydzdka` sgoyd`c{ zksl f`b

rg rfclod cg`rfakg`.

Zdidzd`cds

\6U Fig`sg/ F./ Itzcdzk/ B. f`b X. Ageds/ :866. Sgydzdka` czdbkr zfrkàs f`b %

`f`ckfo efzldrs ok`lfads> fxxokcfrkg` rg Dtzgxdf` bfrf. DCJ Qgzlkà Xfxdz

Sdzkds/ `. 6321.

\:U Fk~dèf`/ N./ Mtrcmksg`/ E. E./ f`b [. Nk nfzfl/ :866. Qmfr ks rmd zksl gi

dtzgxdf` sgydzdka` bdjr bdiftors7 scfo sxfcd/ cbs sxzdfbs f`b efzldr xzkckà

gi zksl. @JDZ Qgzlkà Xfxdzs Sdzkds/ `. 61281.

\3U Foref / D.K. f`b M.F. Zknld`/ :882. Mgq zfrkà fad`ckds fcmkdyd zfrkà srfjko%

kr{. Ngtz`fo gi Jf`lkà f`b Ik`f`cd/ :=> :91;%:162.

\2U Feksf`g/ A. f`b G. Rzksrf`k/ :866. Bksd rfàok a it`bfed`rfos f`b cg`rfakg`

k` dtzg fzdf sgydzdka` jg`b sxzdfbs/ Dtzgxdf` Cd`rzfo Jf`l/ ekedg.

\4U Fzd~lk/ Z./ Cf`bdog`/ J. f`b F. S{/ :866. Sgydzdka` zfrkà `dqs f`b `f`ckfo

efzldrs sxkoogydzs> Dykbd`cd izge rmd Dtzgxdf` bdjr czksks. KEI Qgzlkà Xfxdz

Sdzkds/ `.66'9=.

\9U Fzam{zgt/ E.A. f`b F. Lg rg`klfs/ :868. Rmd DET sgydzdka`%bdjr czksks> It`%

bfed`rfos/ d}xdcrfrkg`s f`b cg`rfakg`. Cfzbk Dcg`gekcs Qgzlkà Xfxdz/ @.

D:868';.

\1U Frrk fsk/ E.A./ Cmdcmdzkrf/ C./ f`b C. @kcldo/ :88;. Qmfr d}xofk`s rmd stzad k`

dtzg fzdf sgydzdka` sxzdfbs btzkà rmd `f`ckfo czksks gi :881%8;7 DCJ Qgzlkà

Xfxdz Sdzkds/ `. 6636.

\=U Jfzzkgs/ S./ Kydzsd`/ X./ Odqf`bgqslf/ E. f`b Z. Sdr~dz/ :88;. Bdrdzek`f`rs gi

k`rzf%dtzg%fzdf agydzèd`r jg`b sxzdfbs btzkà rmd `f`ckfo czksks. Dtzgxdf`

Cgeeksskg`/ Bkzdcrgzfrd Ad`dzfo igz Dcg`gekc f`b Ik`f`ckfo Ffkzs/ Dcg`gekc

Xfxdzs/ @. 3==.

\;U Jdjdz/ F./ Jzf`br/ E. f`b L. Lfyfndc~/ :88;. Iokamr%rg%vtfokr{ gz ~kamr%rg%

okvtkbkr{7 Dykbd`cd izge rmd dtzg%fzdf jg`b efzldr. Zdykdq gi Ik`f`ckfo Srtb%

kds/ ::> ;:4%;41.

:1


30/61

\68U Jgàfdzrs/ B./ Czdedzs/ L.N.E. f`b Q.@. Agdr~ef``/ :88;. Rkdjzdfldz> Cdz%

rkcfrkg` f`b etorkxod czdbkr zfrkàs. @JDZ Qgzlkà Xfxdz Sdzkds/ `. 64336.

\66U Jgza{/ Y./ Oftjfcm/ R./ Esg``kdz/ N.%S. f`b N.%X. Zd``d/ :866. Ikscfo stsrfk`%

fjkokr{/ bdiftor zksl f`b dtzg fzdf sgydzdka` jg`b sxzdfbs. Jf`vtd bd Izf`cd

Qgzlkà Xfxdz Sdzkds/ `. 348.

\6:U Jgsd/ F./ 6;==. Dbadqgzrm cgzzdcrkg` j{ jggrsrzfx k` ftrgzdazdsskg`s. F``fos

gi Srfrksrkcs/ 69>618;%61::.

\63U Cf`rgz/ Z./ :886. Eggb{s K`ydsrgzs Sdzykcds zdsxg`sd rg rmd cg`storfrkyd xfxdz

ksstdb j{ rmd Jfsdo Cgeekrrdd g` Jf`l Stxdzykskg` F `dq cfxkrfo fbdvtfc{

izfedqgzl. Ngtz`fo gi Jf`lkà f`b Ik`f`cd :4> 6166=4.

\62U Cmdtà/ [.Q. f`b L.S. Ofk/ 6;;3. Ik`krd%sfexod sk~ds gi Ngmf`sd`s okldokmggbzfrkg rdsrs igz cgk`rdazfrkg`. G}igzb Jtoodrk` gi Dcg`gekcs f`b Srfrksrkcs/ 44>

363%3:=.

\64U Cgbga`g/ O./ Ifydzg/ C.F. f`b F. Ekssfod/ :883. [kdob sxzdfbs g` DET agy%

dzèd`r jg`bs. Dcg`gekc Xgokc{/ 6=> 48343:.

\69U Dnskà/ N. f`b Q. Odeld/ :866. Rmd nf`ts%mdfbdb sfoyfrkg`> Sgydzdka` f`b jf`l

czdbkr zksl xzdekf btzkà :88=%:88;. Dcg`gekcs Odrrdzs/ 668> :=36.

\61U Dnskà/ N./ Odeld/ Q. f`b D. Efzafzkrgy/ :866. Sgydzdka` jg`b sxzdfbs f`b

scfo it`bfed`rfos f zdfo%rkedek}db%izdvtd`c{ fxxzgfcm. ekedg.

\6=U Dzkcssg`/ N. f`b G. Zd`ftor/ :889. Okvtkbkr{ f`b czdbkr zksl. Ngtz`fo gi Ik%

`f`cd/ 96> ::6;%::48.

\6;U Ifydzg/ C.F./ Xfaf`g/ E. f`b D.%O. yg` Rmfbbd`/ :868. Mgq bgds okvtkbkr{

fdcr agydzèd`r jg`b {kdobs7 Ngtz`fo gi Ik`f`ckfo f`b Vtf`rkrfrkyd F`fo{sks/

24> 681%632.

\:8U Idzzk/ A./ Okt/ O. f`b N.D. Srkaokr~/ 6;;;. Rmd xzgc{cokcfo zgod gi zfrkà fad`ckds>

Dykbd`cd izge rmd dfsr Fskf` czksks. Dcg`gekc @grds/ :=> 334344.

\:6U Af`bd/ F. f`b B. Xfzsod{/ :884. @dqs sxkoogydzs k` rmd sgydzdka` bdjr efzldr.

Ngtz`fo gi Ik`f`ckfo Dcg`gekcs/ 14> 9;6%132.

\::U Adzofcm/ S./ Scmto~/ F. f`b A.J. Qgo/ :868. Jf`lkà f`b sgydzdka` zksl k` rmd

dtzg fzdf. CDXZ Bksctsskg` Xfxdz/ `. 1=33.

\:3U Azfàdz/ C. Q. N./ :886. Sxtzkgts zdazdsskg`s k` dcg`gedrzkcs. K` F Cgexf`kg`

rg Rmdgzdrkcfo Dcg`gedrzkcs/ db. J. Jforfak. Jofclqdoo Xtjoksmdzs/ :886.

\:2U Azfàdz/ C.Q.N./ @. M{tà/ f`b [. Ndg`/ :886. Sxtzkgts zdazdsskg`s qkrm srf%

rkg`fz{ sdzkds/ Fxxokdb Dcg`gekcs/ 33> =;;%;82.

:=


31/61

\:4U Mftam/ B./ Gookyftb/ X./ B. Rtz`dz/ :88;. Qmfr bzkyds sgydzdka` zksl xzdek%

tes7 F` f`fo{sks gi zdcd r dykbd`cd izge rmd dtzg%fzdf. GDCB Dcg`gekcs

Bdxfzred`r Qgzlkà Xfxdzs/ @. 16=.

\:9U Ksefkodsct/ N./ Lf~dek/ M. -:868+. Rmd zdfcrkg` gi dedzakà efzldr czdbkr bd%

iftor sqfx sxzdfbs rg sgydzdka` czdbkr zfrkà cmfàds. Ngtz`fo gi Jf`lkà f`b

Ik`f`cd/ 32> :=96%:=13.

\:1U Lztsso/ Z. -:884+. Bg czdbkr zfrkà fad`ckds fbb rg rmd b{`fekcs gi dedzakà

efzldr czksds7 Ngtz`fo gi Ik`f`ckfo Srfjkokr{/ 6> 344%3=4.

\:=U Ngmf`sd`/ S./ 6;==. Srfrksrkcfo f`fo{sks gi cgk rdazfrkà ydcrgzs. Ngtz`fo gi

Dcg`gekc B{`fekcs f`b Cg`rzgo/ 6:>:36%42.

\:;U Oftjfcm/ R. -:88;+. @dq dykbd`cd g` rmd k`rdzsr zfrd ddcrs gi jtbadr bdckrsf`b bdjr. Ngtz`fo gi rmd Dtzgxdf` Dcg`gekc Fssgckfrkg`/ 1> =4=%==4.

\38U Ogàsrf/ I. F./ :882. Rmd kamr rg okvtkbkr{ xzdekte k` T.S. Rzdfstz{ jg`b

xzkcds. Ngtz`fo gi Jtsk`dss/ 11> 466%4:9.

\36U EcCftod{/ Z.@. / 6;;;. Rmd dtzg f`b rmd okvtkbkr{ gi Dtzgxdf` }db k`cged

efzldrs. JKS CAIS Xtjokcfrkg`/ `. 66.

\3:U Efàf`dook/ S. f`b A. Qgosqknl/ :88;. Qmfr bzkyds sxzdfbs k` rmd dtzg fzdf

agydzèd`r jg`b efzldr7 Dcg`gekc Xgokc{/ :2> 6;6%:28.

\33U Eg igzr/ F./ f`b N.%X. Zd``d/ :866. Czdbkr f`b okvtkbkr{ zksls k` dtzg%fzdf

sgydzdka` {kdob ctzyds. Jf`vtd bd Izf`cd Qgzlkà Xfxdzs Sdzkds/ `. 34:.

\32U Eg`rfoyg/ N.A./ 6;;4. Cgexfzkà cgk`rdazfrkà zdazdsskg` dsrkefrgzs> Sged

fbbkrkg`fo Eg`rd Cfzog zdstors. Dcg`gekcs Odrrdzs/ 2=> ::;:32.

\34U Egzf/ @./ :889. Sgydzdka` czdbkr zfrkàs> Atkor{ jd{g`b zdfsg`fjod bgtjr7/

Ngtz`fo gi Jf`lkà f`b Ik`f`cd/ 38> :826%:89:.

\39U @dqd{/ Q.L. f`b L.B. Qdsr/ 6;=1. F skexod/ xgskrkyd sdek%bd krd/ mdr%

dzgsldbfsrkckr{ f`b ftrgcgzzdofrkg` cg`sksrd`r cgyfzkf`cd efrzk}. Dcg`gedrzkcf/

44> 18318=.

\31U @a/ S. f`b X. Xdzzg`/ :886. Ofa odàrm sdodcrkg` f`b rmd cg`srztcrkg` gi t`kr

zggr rdsrs qkrm aggb sk~d f`b xgqdz. Dcg`gedrzkcf/ 9;> 646;%6442.

\3=U Xmkookxs/ X.C.J. f`b S. Gtokfzks/ 6;;8. Fs{exrgrkc xzgxdzrkds gi zdskbtfo jfsdb

rdsrs igz cgk`rdazfrkg`. Dcg`gedrzkcf/ 4=> 6946;3.

\3;U Xmkookxs/ X.C.J. f`b X. Xdzzg`/ 6;;=. Rdsrkà igz f t`kr zggr k` rked sdzkdszdazdsskg`. Jkgedrzklf/ 14> 334329.

:;


32/61

\28U Zdk mfzr/ C./ :88:. Bdiftor/ ctzzd`c{ czksks/ f`b sgydzdka` czdbkr zfrkàs.

@JDZ Qgzlkà Xfxdz Sdzkds/ `. =13=.

\26U Zdksd / M. f`b Efor~f`/ N./ 6;;;. Jgge f`b jtsr f`b sgydzdka` zfrkàs. K`%

rdz`frkg`fo Ik`f`cd/ :> :13%:;3.

\2:U Sf`bdz/ M. f`b Lodkedkdz/ S./ :883. Cg rfakg` f`b cftsfokr{> f` dexkzkcfo

k`ydsrkafrkg` gi igtz fskf` czksks dxksgbds. Ngtz`fo gi K`rdz`frkg`fo Ik`f`ckfo

Efzldrs/ K`srkrtrkg`s f`b Eg`d{/ 63>6166=9.

\23U Scmtl`dcmr/ O./ yg` Mfad`/ N./ f`b A. Qgosqknl/ :868. Agydzèd r jg`b zksl

xzdektes k` rmd DT zdykskrdb> Rmd kexfcr gi rmd `f`ckfo czksks. DCJ Qgzlkà

Xfxdz Sdzkds/ `. 664:.

\22U Scmqfz~/ L/ :868. Ek b rmd afx> Bksd rfàokà czdbkr f`b okvtkbkr{ k` zkslsxzdfbs. Ekedg.

\24U Srgcl/ N.M. f`b Qfrsg`/ E. 6;;3. F skexod dsrkefrgz gi cgk rdazfrkà ydcrgzs

k` mkamdz gzbdz k`rdazfrdb s{srdes. Dcg`gedrzkcf/ 96> 1=3%=:8.

\29U S{/ F.@./ :882. Zfrkà rmd zfrkà fad`ckds> F`rkckxfrk a ctzzd`c{ czksks gz bdjr

czksks7. Ngtz`fo gi Jf`lkà f`b Ik`f`cd/ :=> :=24%:=91.

38


33/61

36

Ikatzd 6 Bdydogxed`rs k` 4 f`b 68%{dfz agydzèd`r jg`b {kdobs f`b sxzdfbs

8

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KR

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JD

64

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28

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IZ

68

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68

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BD

Xf`do J> Bdydogxed`rs k` 4%{dfz f`b 68%{dfz agydzèd`r jg`b {kdobs

Sgtzcd> Zdtrdzs BfrfSrzdfe.

@grds> Sfexod xdzkgb> 6 Nf`. :88= 2 Fta. :866. Rmd sxzdfb ks bdik`db fs rmd bkiidzd`cd jdrqdd` rmd jd`cmefzl jg`b

{kdob k` cgt`rz{ k f`b rmd Adzef` Jt`b. Rmd ikzsr ydzrkcfo jfz g` 6 Sdxrdejdz :88= bd`grds rmd jdak``kà gi rmd sfexodxdzkgb igz rmd dexkzkcfo f`fo{sks. Rmd sdcg`b ydzrkcfo jfz g` 69 Gcrgjdz :88; bd`grds rmd jdak``kà gi rmd dtzg fzdf

sgydzdka` bdjr czksks firdz rmd xfzokfed`rfz{ sxddcm j{ rmd Azddl xzked ek`ksrdz Adgzad Xfxf`bzdgt.


34/61

3:

Ikatzd : Rmd Bdrdzek`f`rs gi Agydz`ed`r Jg`b [kdobs


35/61

33

Ikatzd 3 Rmd 68%{dfz Sxzdfbs f`b rmd Zdakg`fo Faazdafrd Zksl Ifcrgz

8

:88

288

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8

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8

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8

28

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8

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68

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Sgtzcd> Joggejdza/ Zdtrdzs BfrfSrzdfe.

@grds> Sfexod xdzkgb> 6 Sdx. :88= 2 Fta. :866.


36/61

32

Ikatzd 2 Rmd Zdakg`fo ydzsts rmd K`rdz`frkg`fo Faazdafrd Zksl Ifcrgzs

8

68

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68%{z LiQ%Jt`b -jfsks xgk`rs/ OMS+

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68%{z LiQ%Jt`b -jfsks xgk`rs/ OMS+

YK] -ZMS+

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Sgtzcd> Joggejdza/ Zdtrdzs BfrfSrzdfe.

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37/61

34

Ikatzd 4 Rmd 68%{dfz Sxzdfbs f`b rmd Agydzèd`r Bdikckr k` Zdfo Rked

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Sgtzcd> Zdtrdzs BfrfSrzdfe f`b Dtzgsrfr.



38/61

39

Ikatzd 9 Rmd 68%{dfz Sxzdfbs f`b rmd Czdbkr Zfrk`as j{ S)X/ Eggb{s f`b Ikrcm

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Sgtzcd> Zdtrdzs f`b gq` cfoctofrkg`s -sdd Rfjod F6 k` rmd Fxxd`bk}+.



39/61


40/61

3=

Ikatzd = Fssdsskà Cftsfrkg` j{ edf`s gi Kextosd Zdsxg`sd It`crkg`s

Azddcd

8

68

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38

28

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98

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68%{z AZ%BD sgyd zdka` sxzdfbs

8

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cg`rk`tds


41/61

3;

Xgzrtafo

4

68

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34

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Rmd Cmgodsl{ gzbdzkà gi rmd yfzkfjods igz Azddcd fzd> 68%{z LiQ%Jt`b/ Azddl agydzèd`r jtbadr jfof`cd/ czdbkr

zfrkàs j{ S)Xs g` rmd Azddcd sgydzdka` bdjr f`b 68%{z AZ%Jt`b sxzdfbs. Rmd Cmgodsl{ gzbdzkà gi rmd yfzkfjods igz

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czdbkr zfrkàs j{ S)Xs g` rmd Azddl sgydzdka` bdjr/ czdbkr zfrkàs j{ S)Xs g` rmd Xgzrtatdsd sgydzdka` bdjr f`b 68%{z

XR%Jt`b sxzdfbs. Rmd kextosd f`b rmd 9=$ cgìkbd`cd k`rdzyfo fzd jggrsrzfxxdb tskà 6888 zdxokcfrkg`s> igz dfcm

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it`crkg`s fzd cgextrdb. Sfexod xdzkgb> 6 Sdx. :88= 2 Fta. :866. Rmd `tejdz gi gjsdzyfrkg`s ks 14=.


42/61

28

Ikatzd ; Fssdsskà Cg`rfakg` Diidcrs izge Azddcd j{ edf`s gi Kextosd Zdsxg`sd It`crkg`s-zdsxg`sd rg g`d `grcm bgqàzfbd smgcl g` rmd Azddl sgydzdka` bdjr+

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sgydzdka` bdjr f`b 68%{z sgydzdka` sxzdfbs. Rmd Cmgodsl{ gzbdzkà gi rmd yfzkfjods igz Izf`cd fzd> 68%{z LiQ%Jt`b/

czdbkr zfrkàs j{ S)Xs g` rmd Azddl sgydzdka` bdjr/ Izd`cm agydzèd`r jtbadr jfof`cd f`b 68%{z IZ%Jt`b sxzdfbs.

Rmd kextosd f`b rmd 9=$ cgìkbd`cd k`rdzyfo fzd jggrsrzfxxdb tskà 6888 zdxokcfrkg`s> igz dfcm zdxokcfrkg`/ `dqxfzfedrdzs fzd bzfq` izge rmdkz dsrkefrdb fs{exrgrkc bksrzkjtrkg` f`b 6888 kextosd zdsxg`sd it`crkg`s fzd cgextrdb.

Sfexod xdzkgb> 6 Sdx. :88= 2 Fta. :866. Rmd `tejdz gi gjsdzyfrkg`s ks 14=.


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Rfjod 6 Dsrkefrkg` gi f S{srde gi Sketorf`dgts Dvtfrkg`s igz Dtzg%Fzdf [kdob Sxzdfbs

Xf`do F> Egbdo sxdckikcfrkg` of Ifydzg/ dr fo. -:868+

Cg`srf`r Gq` Ofa Efrtzkr{K`rdz`frkg`fo

Zksl IfcrgzJkb%Fsl Sxzdfb

Jkb%Fsl Sxzdfb .

Zksl Ifcrgz

FR %8:1= 8;4: %8886 8889 8844 %8889

-8243+ -888=+ -8883+ -8886+ -886:+ -888:+

JD 6:8: 8;1; %8882 8888 882= %8882

-8484+ -8884+ -8883+ -8886+ -886=+ -8884+

DS :::2 8;=4 8881 %8886 8842 %8866

-8=;4+ -8883+ -8889+ -888:+ -8869+ -8889+

IK 88;= 8=34 8886 8864 8826 %8886

-8284+ -886=+ -8882+ -888:+ -8863+ -8883+

KR 6;9; 8;=2 8863 8888 8848 %8889

-8=66+ -8884+ -8881+ -8886+ -8863+ -8883+

@O 82=: 8;26 %888: 8882 8886 %8886

-8::;+ -888;+ -888:+ -8886+ -888;+ -8883+

XR 2=;: 8;96 %88:8 %888: 8622 %8839

-6133+ -8882+ -8862+ -8882+ -88:1+ -886:+

AZ 6:36: 8;12 %8889 %886: 8:2= %8811

-348;+ -8882+ -88:;+ -8881+ -8829+ -88::+

KD 9;41 8;96 %8864 %8886 %8886 %888=

-:841+ -8884+ -8869+ -8882+ -8882+ -8884+

Xf`do J> Egbdo sxdckikcfrkg` of Adzofcm/ dr fo. -:868+

Cg`srf`r Gq` Ofa Efrtzkr{K`rdz`frkg`fo

Zksl IfcrgzJkb%Fsl Sxzdfb Jf`l Fssdrs

Jf`l Fssdrs .

Zksl Ifcrgz

FR ::38 8;23 %8886 %8886 883: %883= 8863-:6=4+ -886+ -8883+ -886+ -8884+ -883=+ -886=+

JD 8;4; 8;=: %8884 %8886 883; 8864 8888

-8;91+ -8889+ -8883+ -8883+ -888;+ -886=+ -8884+

DS 38:: 8;=: 8884 %8882 88:; 8893 %886;-8;29+ -8883+ -8889+ -888:+ -8889+ -8826+ -8863+

IK %16:1 8=81 8886 884: 8834 %8816 8833-:=8:+ -88:6+ -8882+ -8863+ -8889+ -88:;+ -886:+

KR 4=:; 8;=8 888; %888; 88:3 8826 %8866

-3;42+ -8884+ -8881+ -8864+ -8881+ -882;+ -886;+

@O %86;9 8;34 %888: 888; %8883 886: %8889-8;6:+ -888;+ -888:+ -8883+ -8882+ -8863+ -8882+

XR 191= 8;9: %886; %8862 8892 88=; %8832-:113+ -8882+ -8862+ -888;+ -8881+ -88=9+ -88:2+

AZ 22824 8;13 %88:4 %88:4 88;2 8:13 %866:-:196:+ -8882+ -88:;+ -88:;+ -888;+ -8:36+ -88=+

KD %8;49 8;96 %88:: 888= 8814 8863 %888:-:349;+ -8884+ -8861+ -88;:+ -888=+ -8834+ -8862+

Xf`do C> Egbdo sxdckikcfrkg` of Fzam{zgt f`b Lg`rg`klfs -:868+

Cg`srf`r Gq` OfaK`rdz`frkg`fo

Zksl Ifcrgz

Zdfo D}cmfàd

Zfrd

FR %6.334 8.;91 6.69: %8.612

-6.1:2+ -8.889+ -8.224+ -8.:3;+

JD %8.469 8.;=6 %8.8:8 8.34;

-:.314+ -8.889+ -8.2;;+ -8.::;+

DS 6.2== 8.;== %6.293 8.389

-1.269+ -8.882+ -8.1;:+ -8.3;;+

IK %9.986 8.;66 3.8=8 8.88:

-3.929+ -8.862+ -8.=;4+ -8.281+

KR ;.42; 8.;;3 %8.;=2 %8.436

-1.3+ -8.882+ -8.144+ -8.982+

@O %2.8:= 8.;96 6.:=6 8.646

-:.114+ -8.881+ -8.383+ -8.:=2+

XR :.;=9 8.;== %9.:8= 6.429

-63.:2=+ -8.883+ -6.=:;+ -6.89:+

AZ %38.283 8.;=8 %9.332 :.32;

-36.=6=+ -8.884+ -3.189+ -8.;;4+

KD 61.821 8.;;6 %3.343 %8.6==

-9.6;2+ -8.883+ -:.24:+ -8.48:+

@grds> Dfcm xf`do zdxgzrs rmd dsrkefrdb cgdiikckd`rs izge f sddekào{ t`zdofrdb zdazdsskg` gi rmd yfzkfjod g` f`

k`rdzcdxr f`b krs gq` ofa/ rgadrmdz qkrm> f` faazdafrd zksl ifcrgz -rmd TS cgzxgzfrd jg`b sxzdfb+/ rmd jkb%fsl sxzdfb

bkiidzd`rkfo f`b krs k`rdzfcrkg` qkrm rmd zksl ifcrgz -sdd Xf`do F+< f` faazdafrd zksl ifcrgz -rmd TS cgzxgzfrd jg`b

sxzdfb+/ rmd cgt`rz{s jkb%fsl sxzdfb bkiidzd`rkfo/ rmd cgt`rz{s jf`l fssdrs rg ABX zfrkg f`b krs k`rdzfcrkg` qkrm rmd zkslifcrgz -sdd Xf`do J+< f` faazdafrd zksl ifcrgz -rmd oga gi rmd TS srgcl efzldr kexokdb ygofrkokr{+/ rmd cgt`rz{s oga zdfo

diidcrkyd d}cmfàd zfrd bkiidzd`rkfo -sdd Xf`do C+. Srf`bfzb dzzgzs fzd zdxgzrdb qkrmk` xfzd`rmdsds jdogq rmd cgdiikckd`r

dsrkefrds. Sfexod xdzkgb> 6 Sdx. :88= 2 Fta. :866. Rmd `tejdz gi gjsdzyfrkg`s ks 14=.


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2:

Rfjod : Xmkookxs%Xdzzg` f`b @A% Xdzzg` T`kr Zggr Rdsr ZdstorsAZ KD XR DS KR JD FR IK IZ @O

68%{dfz sxzdfbs gi sgydzdka` jg`b {kdobs

K`rdzcdxr :641 668; 82;; 869= %8=84 8:28 8=23 6:91 89:6 8232

Sogxd cgdiikckd`r 8;;; 6888 6883 688: 6868 6888 8;=4 8;93 8;=9 8;==

Xmkookxs%Xdzzg` srfrksrkc %8664 %823; 68;3 8;12 61;1 82;6 %:3=8 %:232 %6938 %:8;;

@A%Xdzzg` srfrksrkc 699: 6;=8 3189 3114 198= 4333 %2366 %3=22 3893 %:4=6

4%{dfz sxzdfbs gi sgydzdka` jg`b {kdobs

K`rdzcdxr 3336 6948 8469 8968 8834 8419 64:1 8299 8=;= 896=

Sogxd cgdiikckd`r 8;;= 8;;= 6882 8;;; 6882 8;;4 8;16 8;=2 8;9= 8;11

Xmkookxs%Xdzzg srfrksr kc %8449 %8=:3 :29; %861; 639= %86;= %3684 %6;23 %:=96 %:2:9

@A%Xdzzg` srfrksrkc 64=2 899= 294= :893 9;=: 618= %:136 %2319 %68842 %1448

4%{dfz sgydzdka` czdbkr bdiftor sqfxs

K`rdzcdxr :116 632: 8143 8=92 8914 8233 68=; 83:9 8:3= 8218

Sogxd cgdiikckd`r 8;;; 8;;; 688: 8;;= 8;;= 8;;; 8;=; 8;;: 8;;; 8;;:

Xmkookxs%Xdzzg srfrksr kc %8:19 %81== 8;62 %829: %813= %894; %:1;= %:666 %814= %::19

@A%Xdzzg` srfrksrkc 81:1 61:3 3284 6;66 3883 6:;9 %:6:3 %68:9 62=2 %6238

Jkb%fsl 68%{dfz sxzdfb bkiidzd`rkfo

K`rdzcdxr ;44: 686=6 64;63 ;89; 4342 9:89 612:4 ==:3 116: 681:1

Sogxd cgdiikckd`r 8==4 8;82 8=39 8993 8996 8232 8:69 8:=2 8388 8642

Xmko okxs%Xdzzg srfrksrkc %49;: %4444 %;31: %69;:1 %64=:2 %:9==1 %:;369 %:498; %:2482 %:;319

@A%Xdzzg` srfrksrkc 28;8 3686 31:= 8629 %6993= %9889 %=:48 %=134 %3368 %;=94

Agydzèd`r bdjr ksstf`cd zfrkg

K`rdzcdxr 822; 8198 83=4 :=18 399; 8;28 8:3; 832; 4331 6368

Sogxd cgdiikckd`r 8;14 8;2; 8;96 8;42 8;1: 8;4; 8;1= 8;29 8;29 8;42

Xmkookxs%Xdzzg srfrksr kc %3616 %2=:6 %2668 %2442 %3322 %2:1: %:=;= %4888 %4861 %243=

@A%Xdzzg` srfrksrkc %61993 %:8:43 %:2118 %38:2= %:8=28 %68882 %;966 %:1;6: %32939 %:99;9

ERS rzfbkà ygoted zfrkg

K`rdzcdxr :2918 62;3: 4;=;2 =2;1; 6844=1; :=61:6 61:6= 6=322 :839;= :383;;

Sogxd cgdiikckd`r 832: 8:31 834; 8398 8:14 869: 8:12 8:81 8:;4 86;1

Xmkookxs%Xdzzg` srfrksrkc %:4:;1 %:43:3 %:4248 %:3664 %::1;: %:=::2 %:8==; %:2=:2 %:1881 %:4642

@A%Xdzzg` srfr ksrkc %68429 %189= %2936 %2;4= %68=;2 %1:;: %2136 %34:8 %:2;4 %3318

Ikscfo jfof`cd rg ABX zfrkg

K`rdzcdxr %8828 %882= %88:: %8832 %8862 %8869 %8881 %8881 %886; %886:

Sogxd cgdiikckd`r 8;;1 6888 8;;= 8;;1 8;;1 8;;9 8;;; 8;;= 8;;1 8;;=

Xmkookxs%Xdzzg srfrksr kc %6319 %862; %8;:9 %6269 %6612 %6366 %82:6 %8=;3 %6846 %8=2=

@A%Xdzzg` srfrksrkc %86=2 6999 %8644 8612 %8:66 %844= 894; 8:68 %8838 %86==

Czdbkr zfrkàs j{ S)X!s

K`rdzcdxr %88:2 888; 8883 8866 888= 8882

Sogxd cgdiikckd`r 6882 6888 6886 8;;9 8;;; 8;;=

Xmkookxs%Xdzzg srfrksr kc :21: 8862 86=2 %6=6: %8:13 %84:;

@A%Xdzzg` srfrksrkc 3;4= 6443 61=1 821: %86=1 %8683

Czdbkr zfrkàs j{ Eggb{!s

K`rdzcdxr %8889 888; %886: 8888 8884

Sogxd cgdiikckd`r 6883 6886 6884 688: 8;;;

Xmkookxs%Xdzzg srfrksrkc 6=11 82;; :369 666= %8:69

@A%Xdzzg` srfrksrkc 3324 :631 4688 :436 %8:93

Czdbkr zfrkàs j{ Ikrcm

K`rdzcdxr %8869 8866 8888 8883 8882

Sogxd cgdiikckd`r 6882 6888 688: 8;;; 8;;;

Xmkookxs%Xdzzg` srfrksrkc 61;= %8898 822= %83:6 %8:14

@A%Xdzzg` srfrksrkc 39:1 622= 6999 8=86 %86=4 68%{dfz LiQ%Jt`b 4%{dfz LiQ%Jt`b 68%{dfz TS cgzxgzfrd jg`b sxzdfb TS kexokdb ygofrkokr{

K`rdzcdxr 8.3:6 8.3=8 %8.:83 8.=38

Sogxd cgdiikckd`r 8.;;3 8.;;3 6.888 8.;16

Xmkookxs%Xdzzg` srfrksrkc %6.2;; %6.43; %8.1;4 %:.;48

@A%Xdzzg` srfrksrkc %2.3:8 %3.136 %:.281 %1.=62

@grds> Dfcm xf`do zdxgzrs rmd dsrkefrdb cgdiikckd`rs izge f` gzbk`fz{ odfsr svtfzds zdazdsskg` gi rmd yfzkfjod g` f`

k`rdzcdxr f`b krs gq` ofa/ rgadrmdz qkrm rmd Xmkookxs%Xdzzg` -6;;=+ f`b rmd AOSE^

@A%Xdzzg` -:886+ srfrksrkcs cgzzdcrdb

igz rmd ftrgcgzzdofrkg` k` rmd zdazdsskg` dzzgz/ cgextrdb tskà rmd @dqd{%Qdsr dsrkefrd gi rmd dzzgz yfzkf`cd. Rmd

odàrm gi rmd ofa srztcrtzd ks cgextrdb tskà rmd FKC czkrdzkf. Rmd izdvtd`c{ ~dzg sxdcrzte bdiftor edrmgb ks ldz`do

-Jfzrodrr+ ste%gi%cgyfzkf`cds igz rmd Xmkookxs%Xdzzg` rdsr f`b ftrgzdazdsskyd sxdcrzfo zdazdsskg` -AOS%bdrzd`bdb+ igz rmd

@A%Xdzzg` rdsr. Rmd czkrkcfo yfotds igz rmd Xmkookxs%Xdzzg` srfrksrkc fzd zdxgzrdb j{ Mfekorg` -6;;2/ Rfjod J.9/ 193+> %

:.=9 -68 xdzcd`r+/ %3.6: -4 xdzcd`r+/ %3.46 -6 xdzcd`r+. Rmd czkrkcfo yfotds igz rmd AOSE^

@A%Xdzzg` srfrksrkc fzd

zdxgzrdb j{ @A f`b Xdzzg` -:886/ Rfjod 6/ 64:2+> %4.1 -68 xdzcd`r+/ %=.6 -4 xdzcd`r+/ %63.= -6 xdzcd`r+. Sfexod xdzkgb>

6 Sdx. :88= 2 Fta. :866.


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Rfjod 3 Xmkookxs%Gtokfzks Cgk`rdazfrkg` Rdsr Zdstors f`b rmd 68%[dfz [kdob SxzdfbAZ KD XR DS KR JD FR IK IZ @O

Xf`do F> Ikscfo jf

the euro area sovereign debt crisis

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