Page 81 - C:\Users\MK\AppData\Local\Temp\mso3F7A.tmp
P. 81

³                    L IX XQ OXQJR VLOHQ]LR  6KRWRNX VRUULVH HG LO PHUFDQWH                _
        V
                                                                                     &217$77, ',5(77,
                          ULFDPELz  LO  VRUULVR  VRGGLVIDWWR   6KRWRNX  LQGLFz  GXH
                                                                                           VHJUHWHULD#DUWHPDU]LDOH RUJ
                          7VXED  WUD  TXHOOH  GHVFULWWH  H  OH  DFTXLVWz  FRPH  V¶HUD
                          ULSURPHVVRª
                                                                                       $57(0$5=,$/( 25*




                                                               GL  .DQGD  D  (GR   ,Q  TXHVWR  SHULRGR  FDPELz  LO  VXR  QRPH
                                                               GD  6RFKL  D  6RPLQ   6L  VWDFFD  GDOOD  IRUPD  HVSUHVVLYD    *RWR
                                                               *LXGLFDQGROD WURSSR ULJLGD  OR VWLOH SUDWLFDWR GDOOD 6FXROD *RWR q
                                                               GHWWR  ³,HERUL´    6WULQJH  DPLFL]LD  FRQ  LO  SLWWRUH  +DQDEXVD  ,FFKR
                                                               3RUWD  DOOD  SHUIH]LRQH  LO  PHWRGR  GL  LQWDJOLR  GHWWR  .DWDNLUL  ERUL
                                                                WDJOLR ODWHUDOH   &RQ TXHVWD IRUPD GL LQFLVLRQH ULXVFu D ULSURGXUUH
                                                               VXO PHWDOOR O¶HIIHWWR SLWWRULFR SURGRWWR GD XQ SHQQHOOR  4XHVWR VWLOH
                                                               q  FDUDWWHUL]]DWR  GD  XQ  ULFFR  HVHPSLR  GL  LQFLVLRQH  UHDOLVWLFKH   )X
                                                               DFFROWR FRQ IDYRUH GDL VXRL FRQWHPSRUDQHL  /D WHFQLFD GHO .DWDNLUL
                                                               ERUL IX DGRWWDWD GD DUWLVWL D OXL FRQWHPSRUDQHL H VXFFHVVLYL  6RPLQ
                                                               UHDOL]]z  XQ  QXPHUR  OLPLWDWR  GL  7VXED   )X  LPSHJQDWR  QHOOD
                                                               SURGX]LRQH GL NR]XND  NRJDL  IXFKL  NDVKLUD H PHQXNL  6KDNXGR H
                                                               VKLEXLFKL HUDQR L PDWHULDOL SL XVDWL
                                                               )UD L VXRL VRJJHWWL SL FRPXQL L PLWRORJLFL  LO %XGGKD IHOLFH +RWHL
                                                               ,O  FDFFLDWRUH  GL  IDQWDVPL  HG  HVVHUH  PDOYDJL  6KRNL  H  L  OHRQL
                                                               PLWLFL  NDUD  VKLVKL   'DO  PRQGR  UHDOH   OH  WLJUL  H  L  ILRUL   FRQ  XQR
                                                               VSHFLDOH ULJXDUGR SHU OD SHRQLD  /D 6FXROD HEEH DOOLHYL GL YDORUH  $
                                                               ORUR  YROWD  JHQHUDURQR  GHOOH  VRWWR  VFXROH   /H  SL  IDPRVH  VRQR
                                                               OD   ,ZDPRWR   )XUXNDZD  H  <DQDJDZD   Ê  EHQH  WHQHUH  D  PHQWH
                                                               FRVWDQWHPHQWH    FKH  WXWWL  L  ODYRUL  ILUPDWL  ³6R\R´  H  ³6RPLQ´  QRQ
                                                               VRQR  VWDWL  SURGRWWL  GD  XQR  GHL  GXH  &DSR  6FXROD   /D  ERWWHJD  HUD
                                                               FRPSRVWD  GD  SL  GL  TXDUDQWD  DOOLHYL   'L  FXL  TXDWWUR  DYHYDQR
                                                               QRPH  6R\R  H  DOWUH  TXDWWUR  6RPLQ   7XWWL  SUDWLFDYDQR  OR
                                                               VWLOH NDWDNLULERUL


                                                               ,O  PHUFDQWH  ULPDVH  D  OXQJR  LQ  VLOHQ]LR   6KRWRNX  VRUULVH  HG  LO
       L                                                       PHUFDQWH ULFDPELz LO VRUULVR VRGGLVIDWWR  6KRWRNX LQGLFz GXH 7VXED
                D  6FXROD  <RNR\D  JRGHYD  H  JRGH  GL  XQD  JUDQGH
                UHSXWD]LRQH  <RNR\D 6R\R , OD IRQGD D (GR QHO ;9,,
                                                               WUD  TXHOOH  GHVFULWWH  H  OH  DFTXLVWz  FRPH  V¶HUD  ULSURPHVVR   ,O  FLHOR
                VHFROR  6R\R IX DWWLYR VLQR DO       *OL RUQDPHQWL SHU
                                                               LQWHUUXSSH TXHOOD SLRJJLD VRWWLOH H FRVu LO JXHUULHUR SHQVz FKH IRVVH
       OD  ODPD  GD  OXL  UHDOL]]DWL  VRQR  HVWUHPDPHQWH  UDUL  H  GLIILFLOL  D
                                                               GL EXRQ DXVSLFLR H ULSUHVH LO FDPPLQDPHQWR FRQ OD VRGGLVID]LRQH
       WURYDUVL DQFKH LQ *LDSSRQH  /DYRUz VHFRQGR L FDQRQL GHOOD 6FXROD
                                                               QHO FXRUH H OH VXH 7VXED QHOOH WDVFKH
       *RWR  6WLOH DSSUHVR GXUDQWH LO SHULRGR GL VWXGLR D .\RWR FRQ  *RWR
                                                               4XHVWH OH 7VXED FKH VFHOVH  6FXROH <RNR\D H 2WVXNL
       ,QMR   +             6HJXL  *RWR  6RNXMǀ  TXDQGR  VL  UHFz  D  (GR   D

       VHJXLWR GHOOD FKLDPDWD GHOOR VKRJXQ  )LUPz OH VXH RSHUH FRQ XQR

       GHL   VHJXHQWL   QRPL    0RULWVXJX    VFULWWR   LQ   GXH
       PRGL   0RULQREX H 7RPRNDQH
       )X DQFKH IRUJLDWRUH GL VSDGH  <RNR\D 6RPLQ  ILJOLR GL 6R\R H VXR
       VXFFHVVRUH  QDFTXH D (GR QHO      H PRUL QHO       ,O VXR QRPH
       GL EDWWHVLPR HUD &KRMLUR  7RPRWVXQH  7RQDQ H QHJOL XOWLPL DQQL GL
       YLWD -LKHL IXURQR L QRPL GD OXL XVDWL  &RPH LO SDGUH IX DOOLHYR GHOOD
       6FXROD  *RWR   $OO¶HWj  GL      DQQL  VXFFHGHWWH  DO  SDGUH  GHFHGXWR
       &LUFD  DOO¶HWj  GL      DQQL  DSUu  XQD  ERWWHJD  QHO  TXDUWLHUH




                                       768%$   -  251$0(172 ( 3527(=,21(                            *(11$,2
   76   77   78   79   80   81   82   83   84   85   86