$11$/(6©6HUKLVWVRFLRO©©©
3252à,/$,12&(1(5(/$=,21,(5(&(16,21,5(32576$1'5(9,(:6

PRJRáHL]PHULWLSRUR]QRVWLQYVHEQRVWUDGLRL]RWRSRYSUL
GRORáDQMXVWDURVWLLQRSUHGHOMHYDQMXNHUDPLáQLKQDMGELQ
SUHGVWDYLWL SUHOLPLQDUQH UH]XOWDWH DQDOL]H DPIRU ] 07
.RW XJRWDYOMDMR DYWRUML VR ELOH NRQFHQWUDFLMH UDGLRDN
WLYQRVWL SRUR]QRVW REOLND WHUPROXPLQLVFHQáQLK]QDNRY
LQ SRORÌDM GHOFHY SUL DPIRUDK ] 07 SRGREQH NRW SUL
Y]RUFLKL]$QGDOX]LMH
9 ÊHVWQDMVWHPSRJODYMX1*HQRYD 60HORQL LQ0
2GGRQHSUHGVWDYOMDMRUH]XOWDWHDQDOL]HNHUDPLáQLKY]RU
FHY]PHWRGRDNWLYLUDQMDQHYWURQRY LQQMHQRXSRUDEQRVW
SULGRORáDQMX L]YRUDDPIRU$YWRUMLVRV WRPHWRGRSROHJ
Y]RUFHY]07DQDOL]LUDOL WXGL URáDMHDPIRU'UHVVHO L]
GYHKSRPHPEQLKL]GHORYDOQLKVUHGLÊáYMXÌQLÉSDQLML/D
&DWULDÌLJL32572LQ3238/,LQ(O7HMDULOOR ÌLJ311
9]RUFH VR L]SRVWDYLOL FXUNX QHYWURQRY LQ QDWR L]PHULOL
YUHGQRVWL LQGXNFLMVNH UDGLRDNWLYQRVWL WHU WDNR XJRWRYLOL
YUHGQRVWL RNURJ WULGHVHWLK NHPLáQLK HOHPHQWRY WDEHOH
 QDWR SD UH]XOWDWH VWDWLVWLáQR REGHODOL LQ SULPHU
MDOL
9 VHGHPQDMVWHPSRJODYMX/&RQWL)UDQFHVFR%XUUD
JDWR LQ2GLQR*UXEHVVLSUHGVWDYLMR L]VOHGNHSULPHUMDOQH
DQDOL]H DIULÊNLK DPIRU ]07 L]NRSDYDQMD Y OHWLK 
 LQ  DPIRU V WUHK WXQL]LMVNLK SURGXNFLMVNLK
VUHGLÊá 1DEHXO7KDHQDH LQ6XOOHFKWXP LQDIULÊNLKDP
IRUNLVRMLKRGNULOLSULL]NRSDYDQMLKY2VWLML8SRUDELOLVR
SRGREQHDUKHRPHWULáQHSRVWRSNHNRWVRRSLVDQLY LQ
 SRJODYMX 5H]XOWDWH VR QDWR REGHODOL V SRPRáMR WL
PXOWLYDULDELOQH VWDWLVWLáQH DQDOL]H LQ MLK SULND]DOL Y WD
EHODK
2VHPQDMVWRSRJODYMHNLVWDJDSULSUDYLOD2GLQR*UX
EHVVLLQ/&RQWLMHSRQRYQRSRVYHáHQRDUKHRPHWULáQLP
UD]LVNDYDPDPIRU'UHVVHO LQ VLFHUDQDOL]DPY]RUFHY
L] ÊSDQVNLK QDMGLÊá /D &DWULD ] ÌLJRPD 32572 LQ
3238/, LQ (O 7HMDULOOR ] ÌLJRP 311 LQ DPIRUDP ]
HQDNLPLÌLJL]077XGL WXVR UD]LVNRYDOFLXSRUDELOLYHá
PHWRG RSWLáQR PLNURVNRSLMR DNWLYLUDQMH QHYWURQRY
IOXRUHVFHQFR];ÌDUNLLQGUXJRLQXJRWRYLOLGDQDMEROMÊH
UH]XOWDWH REHWD XJRWDYOMDQMH NRQFHQWUDFLMH FLUNRQLMD
'REOMHQHYUHGQRVWLELODKNRXSRUDELOLWXGLNRWSDUDPHWHU
SULDQDOL]DKDPIRU'UHVVHO]GUXJLKQDMGLÊá
1DNRQFXNQMLJH MHÊH VNOHSQDEHVHGD L]GDMDWHOMHY V
NUDWNRDQDOL]RSULVSHYNRYLQREVHÌHQL]ERUOLWHUDWXUHVWU
 7X VR SROHJ ÊWXGLM NL REUDYQDYDMR DPIRUH
QDYHGHQD WXGL GHOD V SRGURáMD DQWLáQH HNRQRPLMH LQ
WUJRYLQH SRURáLOD R UD]LVNDYDK SRPHPEQHMÊLK QDMGLÊá
DPIRU LQ UD]SUDYHR UD]QLKDUKHRPHWULáQLKPHWRGDK9
L]ERUX MH NDU  HQRW NDWHULK DYWRU MH L]GDMDWHOM -RVp
5HPHVDO 5RGUtJXH] NL YHOMD ]D HQHJD QDMXJOHGQHMÊLK
SR]QDYDOFHYEHWLÊNLKDPIRU
=EUDQL SULVSHYNL RPRJRáDMR GREHU YSRJOHG Y GHOR
SRVDPH]QLK UD]LVNRYDOQLK HNLS QD 07 LQ RGSLUDMR
ÊWHYLOQDYSUDÊDQMDSRYH]DQD]L]NRSDQLPJUDGLYRP=D
ÊWXGLM EHWLÊNLK DPIRU DOL ]D YSUDÊDQMD RVNUEH DQWLáQHJD
5LPDERNQMLJDYVHNDNRUGUDJRFHQYLUSRGDWNRY
0LODQ/RYHQMDN
'RQDOG'DYLGVRQ352%/(062)5$7,21$/,7<
2[IRUG&ODUHQGRQ3UHVVVWU
.QMLJD 3UREOHPV RI 5DWLRQDOLW\ MH áHWUWD ]ELUND ILOR
]RIVNLKHVHMHY DPHULÊNHJD ILOR]RID'RQDOGD'DYLGVRQD
SURIHVRUMDVNDOLIRUQLMVNHXQLYHU]H%HUNHOH\'DYLGVRQMH
NQMLJR SULSUDYOMDO GROJR áDVD QDWR SD MR MH V SRPRáMR
(UQLMD /H3RUD SRVWKXPQR XPUO MH  DYJXVWD 
XUHGLOD LQ L]GDOD QMHJRYD ÌHQD 0DUFLD &DYHOO NL MH
QDSLVDODWXGLXYRG
9NQMLJL3UREOHPVRI5DWLRQDOLW\MH]EUDQLKHVHMHY
NL VRQDVWDMDOL LQ VRELOL ÌHREMDYOMHQLPHG OHWL  LQ
(VHMLVRUD]YUÊáHQLYWULVNORSH>@5DWLRQDOLW\DQG
9DOXH NL YVHEXMH ÊWLUL HVHMH Y NDWHULK VH'DYLGVRQSR
VYHáDWLVWLPSUREOHPRPNL]DUDFLRQDOQRVWSUHGVWDYOMDMR
L]UDÌDQMHREMHNWLYQHJDYUHGQRWHQMDPRUDOQLKGHMDQMNRW
VWDYHUEDOQDNRPXQLNDFLMD LQ LQWHUSUHWDFLMDGUXJHJD3UL
WHP ]DVWRSD WHRULMR LQWHUVXEMHNWLYQH LQ LQWHUSUHWDWLYQH
UHVQLFHNLVHODKNRREMHNWLYL]LUDOH]QRWUDMWULDQJXODFLMH
NL REVWDMDPHG QDPL GUXJLPL OMXGPL LQ ]XQDQMLP VYH
WRPNLJDGHOLPRMH]LNRYQRLQPHQWDOQR>@3UREOHPV
DQG3URSRVDOVNLYVHEXMHÊHVWHVHMHYYNDWHULK'DYLGVRQ
RGSLUD YSUDÊDQMD LGHQWLILNDFLMH UHSUH]HQWDFLMH WHU LQWHU
$11$/(6©6HUKLVWVRFLRO©©©
3252à,/$,12&(1(5(/$=,21,(5(&(16,21,5(32576$1'5(9,(:6

SUHWDFLMH JRYRUQLK IL]LáQLK LQ GUXÌEHQLK GHMDQM LQ SUL
WHPSRXGDUMDLQWHUDNWLYQLXáLQHNUD]XPHYDQMDPHQWDOQLK
IHQRPHQRY]QRWUDMGUXÌEHQHWULDQJXODFLMHNLMRXVWYDULMR
RQWRORJLMD SUYH RVHEH ]XQDQML VYHW NL JD GHOLPR LQ
RQWRORJLMD WUHWMH RVHEH9  HVHMX 'DYLGVRQ SRXGDUMD
HQRWQRVWPLÊOMHQMDSRPHQDLQGHORYDQMDYRNYLUXRQWR
ORJLMH SUYH RVHEH NRW JRYRUQH LQ WXGL NRPXQLNDFLMVNH
LQWHUSUHWDFLMHLQ>@,UUDWLRQDOLW\NLYVHEXMHÊWLULHVHMHY
NDWHULK VL 'DYLGVRQ ]DVWDYOMD YSUDÊDQMH R UDFLRQDOQRVWL
LUDFLRQDOQHJD GHMDQMD .RW SDUDGRNV LUDFLRQDOQRVWL VH
L]NDÌH GHMVWYR GD LUDFLRQDOQD GHMDQMD SUHSULáDQMD LQ
HPRFLMH YVHEXMHMR LQWHQFLRQDOQRVW YHQGDU SD QLPDMR
NRKHUHQFH DOL NRQVLVWHQFH R]LURPD Y]URáQRSRVOHGLá
QHJDRGQRVDNLMH]QDáLOHQ]DUDFLRQDOQRVW'DYLGVRQVH
SUL WHPRSLUDQD)UHXGRYRDQDOL]R LUDFLRQDOQRVWL LQSR
GSUH QMHJRYR SRYH]DYR RELáDMQLK UD]ORJRY LUDFLRQDO
QRVWLNRWVRUD]GHOMHQRVWXPDYYHáQHRGYLVQLKVWUXNWXU
REVWRM SRPHPEQLK VWUXNWXU Y YVDNHP NYD]L DYWR
QRPQHPGHOXLQL]RVWDQHNORJLáQLKY]URáQLKUHODFLMPHG
GHOL XPD 1D NRQFX NQMLJH MH GRGDQ ÊH LQWHUYMX ]
DYWRUMHP$Q,QWHUYLHZZLWK'RQDOG'DYLGVRQNLJDMH
SULSUDYLO(UQLH/H3RUH
.QMLJD 3UREOHPV RI 5DWLRQDOLW\ DPHULÊNHJD ILOR]RID
'RQDOGD'DYLGVRQDŸVRGLPHGQDMSRPHPE
QHMÊH GRVHÌNH V SRGURáMD ILOR]RILMH MH]LND ILOR]RILMH
GUXÌEHQH WULDQJXODFLMH ORJLNH GHMDQMD LQ ORJLNH PRUDO
QHJD YUHGQRWHQMD Y NQMLJL GRELPR RGJRYRUH QD YSUD
ÊDQMDNLVHQDQDÊDMRQDKROL]HPPHQWDOQLKGUXÌEHQLK
IL]LáQLK SVLKRORÊNLK LQ MH]LNRYQLK UHDNFLM NL XVWYDUMDMR
VRFLDOQRRQWRORJLMR LQ VRFLDOQR RVQRYR ]QRWUDM QMH NR
PXQLNDFLMRLQLQWHUSUHWDFLMRGUXJHJDYNDWHULKVH ODKNR
XVWYDULLQXSRUDELSRMHPREMHNWLYQHUHVQLFH
1LMD],EUXOM