Anda di halaman 1dari 18

,1752'8d­2

³2EUDFRQFHELGDHVFULWDHLPSUHVVDGHQWURGHXPDVyQRLWH´$PLVVDGRDWHX HP
IUDQFrV/DPHVVHGHO¶DWKpH  p XP GRV FRQWRV PDLV SHUIHLWRV H PDLV VXJHVWLYRV GH
%DO]DF
7HYH R DXWRU YLVtYHO HPSHQKR HP OLJDU HVWD QRYHOD D RXWUDV QDUUDWLYDV GH$
FRPpGLD KXPDQD H RV GRLV SURWDJRQLVWDV VREUHWXGR %LDQFKRQ GHVHPSHQKDP
SDSHO LPSRUWDQWH HP WRGR R FLFOR 1R HQWDQWR HVWD EUHYH QDUUDWLYD p WmR
LQGHSHQGHQWH WmR LQWHLUD HP VL FRPR SRU H[HPSOR$ PHQVDJHP TXH Mi
FRQKHFHPRV
2 DVVXQWR p D FRQWUDGLomR HQWUH RV SULQFtSLRV H DV Do}HV GH XP KRPHP
HPLQHQWHPLVWpULRTXHH[FLWDDFXULRVLGDGHGROHLWRU2DXWRUID]H[SOLFDURPLVWpULR
SHORSUySULRSURWDJRQLVWDGHSRLVGHREWLGDHVVDH[SOLFDomRpTXHHQWUHYHPRVDWUiV
GHODRXWURHQLJPDEHPPDLVSURIXQGRTXHRSULPHLUR
$OpPGHDEULUJUDQGHVSHUVSHFWLYDVDQWHRSHQVDPHQWRGROHLWRU%DO]DFRFDWLYD
SHOD VXD VHUHQLGDGH 2 UHVSHLWR GH %DO]DF FDWyOLFR DR DWHtVPR GH 'HVSOHLQ QmR p
PHQRU TXH R GH 'HVSOHLQ j Ip GR VHX SREUH H KXPLOGH EHQIHLWRU (VVD
LPSDUFLDOLGDGH XPD GDV TXDOLGDGHV PDLV QRWiYHLV GR URPDQFLVWD ID] FRP TXH R
VLJDPRVFRPLQWHLUDFRQILDQoDHPVXDVWRUWXRVDVSHUHJULQDo}HVSHODVFRQVFLrQFLDV
KXPDQDVFRPRDXPJXLDOHDOHVHJXUR
3DXO %RXUJHW XP GRV PHOKRUHV FRQKHFHGRUHV GH %DO]DF MXOJD FRP DFHUWR HP
eWXGHVHWSRUWUDLWV YRO,,, HVVDQRYHODXPPRGHORGRJrQHUR³$QRYHOD´HVFUHYH
HOH  ³p R JrQHUR PHQRV DSURSULDGR SDUD GHPRQVWUDU (P FRPSHQVDomR p R JrQHUR
PDLV FDSD] GH LQTXLHWDU R SHQVDPHQWR 5HOHLDP$ PLVVD GR DWHX SRU H[HPSOR
$GPLUDUmR FRP TXH YLJRU %DO]DF ID] EURWDU GH XP LQFLGHQWH R SUREOHPD GH
FRQVFLrQFLD TXH QHOH VH HVFRQGH %DO]DF QmR GLVVHUWD 1mR p XP VLORJLVPR TXH
H[S}H0DVDRDFDEDUDOHLWXUDGHVVDVSRXFDVSiJLQDVXPPXQGRGHLGHLDVWHPVH
DJLWDGR HP QyV 7RGR R SUREOHPD GR DOpP VH OHYDQWRX DQWH QRVVR HVStULWR D Ip
VLPSOHVHKXPLOGHYDOHPDLVGRTXHDFLrQFLDRUJXOKRVD"$WpTXHSRQWRXPtPSLR
WHP R GLUHLWR GH WRFDU HP FUHQoDV TXH GHVSUH]D PDV GH TXH RXWURV YLYHP" 1mR
H[LVWHXPDUHYHUVLELOLGDGHGDJUDoDTXHDJHVREUHQyVjQRVVDUHYHOLD"´
eUDURXPDSHUVRQDJHPEDO]DTXLDQDWHUQDUHDOLGDGHXPPRGHORLGHQWLILFiYHO
RURPDQFLVWDLQVWLQWLYDPHQWHIRUPDYDVXDVFULDWXUDVPDLVLPSRUWDQWHVFRPWUDoRV
SHGLGRVHPSUHVWDGRVDYiULRVFRQWHPSRUkQHRV1mRpHVVHRFDVR GH'HVSOHLQHP
TXHPRVOHLWRUHVIDFLOPHQWHUHFRQKHFLDPRIDPRVRGU*XLOODXPH'XSX\WUHQ 
 UHQRYDGRUGDFLUXUJLDHFLUXUJLmRGDIDPtOLDUHDOILJXUDPDUFDQWHPRUWDKDYLD
PHQRVGHXPDQRHDLQGDSUHVHQWHDWRGDVDVPHPyULDV9iULRVLWHQVGRVHXYDVWR
DQHGRWiULR HVWmR DTXL DWULEXtGRV SHOR DXWRU j SHVVRD ILFWtFLD GH 'HVSOHLQ *X\
6DJQHVSUHIiFLRjQRYHODQDHGLomR3OpLDGH
4XDQWRjILJXUDGRGU%LDQFKRQGDVTXHPDLVYH]HVUHDSDUHFHPQRGHFRUUHUGH
$FRPpGLDKXPDQDGDTXDOpXPGRVSHUVRQJHQVPDLVDWUDHQWHV+HUEHUW-+XQW
OHPEUD RSRUWXQDPHQWH TXH HOH QmR p SURWDJRQLVWD GH QHQKXP FRQWR RX URPDQFH
6HXFDUiWHUYDLVHUHYHODQGRDRVSRXFRVHPDSDULo}HVVXFHVVLYDVHVHJUDYDQGRFRP
UHOHYRQXPDVXFHVVmRGHREUDV6HJXQGRDOHQGDIRLDHOHTXH%DO]DFWHULDLQYRFDGR
HPVXDDJRQLD

SDXORUyQDL
$0,66$'2$7(8


'(',&$'2$$8*867(%25*(7>@
SRUVHXDPLJR
'(%$/=$&



8PPpGLFRDTXHPDFLrQFLDGHYHXPDEHODWHRULDILVLROyJLFDHTXHMRYHPDLQGDVH
FRORFRX HQWUH DV FHOHEULGDGHV GD (VFROD GH 3DULV FHQWUR GH OX]HV DR TXDO WRGRV RV
PpGLFRV GD (XURSD SUHVWDP KRPHQDJHP R GU %LDQFKRQ>@ SUDWLFRX GXUDQWH
PXLWR WHPSR D FLUXUJLD DQWHV GH VH GHGLFDU j PHGLFLQD 6HXV SULPHLURV HVWXGRV
IRUDP GLULJLGRV SRU XP GRV JUDQGHV FLUXUJL}HV IUDQFHVHV R LOXVWUH 'HVSOHLQ>@
TXH SDVVRX FRPR XP PHWHRUR SHOD FLrQFLD 6HJXQGR GHFODUDP VHXV LQLPLJRV HOH
OHYRXSDUDRW~PXORXPPpWRGRLQWUDQVPLVVtYHO&RPRWRGDVDVSHVVRDVGHJrQLR
QmR WLQKD KHUGHLURV FDUUHJDYD WXGR FRQVLJR H WXGR FRQVXPLD $ JOyULD GRV
FLUXUJL}HV DVVHPHOKDVH j GRV DWRUHV TXH Vy H[LVWHP SRU VXD SUySULD YLGD H FXMR
WDOHQWRGHL[DGHVHUDSUHFLDGRORJRTXHGHVDSDUHFHP2VDWRUHVHRVFLUXUJL}HVEHP
FRPR RV JUDQGHV FDQWRUHV RV JUDQGHV DUWLVWDV TXH SRU VXD H[HFXomR GHFXSOLFDP R
SRGHUGHP~VLFDVmRWRGRVKHUyLVGRPRPHQWR'HVSOHLQGiDSURYDGDVHPHOKDQoD
HQWUH RV GHVWLQRV GHVVHV JrQLRV WUDQVLWyULRV 6HX QRPH RQWHP WmR IDPRVR KRMH
TXDVHHVTXHFLGRSHUPDQHFHUiGHQWURGDHVSHFLDOLGDGHVHPOKHWUDQVSRURVOLPLWHV
1mRVmRQHFHVViULDVDOLiVFLUFXQVWkQFLDVH[FHSFLRQDLVSDUDTXHRQRPHGXPViELR
SDVVH GR GRPtQLR GD FLrQFLD SDUD D KLVWyULD JHUDO GD KXPDQLGDGH" 7LQKD 'HVSOHLQ
HVVDXQLYHUVDOLGDGHGHFRQKHFLPHQWRVTXHID]GXPKRPHPRYHUER H RYXOWR GXP
VpFXOR" 'HVSOHLQ SRVVXtD XPD YLVmR GLYLQD SHQHWUDYD R GRHQWH H VXD GRHQoD SRU
XPD LQWXLomR DGTXLULGD RX QDWXUDO TXH OKH SHUPLWLD VXUSUHHQGHU RV GLDJQyVWLFRV
SDUWLFXODUHVDRLQGLYtGXRGHWHUPLQDURPRPHQWRSUHFLVRDKRUDRPLQXWRHPTXH
HUD QHFHVViULR RSHUDU OHYDQGR HP FRQWD DV FLUFXQVWkQFLDV DWPRVIpULFDV H DV
SHFXOLDULGDGHVGRWHPSHUDPHQWR3DUDDFRPSDQKDUDVVLPDQDWXUH]DHVWXGDUDHOHD
LQFHVVDQWH FRQMXJDomR GRV VHUHV H GDV VXEVWkQFLDV HOHPHQWDUHV FRQWLGDV QD
DWPRVIHUDRXIRUQHFLGDVSHODWHUUDDRKRPHPTXHDVDEVRUYHHDVHODERUDSDUDWLUDU
GHODV XPD H[SUHVVmR SDUWLFXODU" 3URFHGLD HOH FRP HVVD SRWrQFLD GH GHGXomR H GH
DQDORJLDDTXHVHGHYHRJrQLRGH&XYLHU">@&RPRTXHUTXHIRVVHHVVHKRPHP
IL]HUDVH R FRQILGHQWH GD FDUQH VXUSUHHQGLDD QR SDVVDGR FRPR QR IXWXUR
DSRLDQGRVH QR SUHVHQWH 0DV UHVXPLX HOH WRGD D FLrQFLD HP VXD SHVVRD FRPR
IL]HUD +LSyFUDWHV>@ *DOHQR>@ $ULVWyWHOHV">@ &RQGX]LX HOH WRGD XPD
HVFRODSDUDPXQGRVQRYRV"1mR6HpLPSRVVtYHOQHJDUDHVVHFRQVWDQWHREVHUYDGRU
GD TXtPLFD KXPDQD D DQWLJD FLrQFLD GR PDJLVPR LVWR p R FRQKHFLPHQWR GRV
SULQFtSLRVHPIXVmRDVFDXVDVGDYLGDDYLGDDQWHVGDYLGDRTXHHODVHUiSRUVXDV
SUHSDUDo}HVDQWHVGHVHUpSUHFLVRFRQIHVVDUSDUDVHUMXVWRTXHLQIHOL]PHQWHQHOH
WXGRIRLSHVVRDOLVRODGRHPVXDYLGDSHORHJRtVPRRHJRtVPRKRMHPDWDVXDJOyULD
6HX W~PXOR QmR HVWi HQFLPDGR SHOD HVWiWXD HORTXHQWH TXH UHYHOD SDUD R IXWXUR RV
PLVWpULRV TXH R JrQLR EXVFD SRU VHX SUySULR HVIRUoR 7DOYH] R WDOHQWR GH 'HVSOHLQ
IRVVH VROLGiULR FRP VXDV FUHQoDV H FRQVHTXHQWHPHQWH PRUWDO 3DUD HOH D
DWPRVIHUD WHUUHVWUH HUD XPD EROVD JHUDGRUD YLD D WHUUD FRPR XP RYR GHQWUR GD
FDVFD H FRPR QmR SXGHVVH VDEHU TXDO GRV GRLV DSDUHFHUD SULPHLUR VH R RYR RX D
JDOLQKDQmRDGPLWLDRJDORQHPRRYR1mRDFUHGLWDYDQHPQRDQLPDODQWHULRUQHP
QRHVStULWRSRVWHULRUDRKRPHP1mRYLYLDQDG~YLGDDILUPDYD6HXDWHtVPRSXURH
IUDQFRDVVHPHOKDYDVHDRGHPXLWRVRXWURVViELRVDVPHOKRUHVFULDWXUDVGRPXQGR
PDV LQYHQFLYHOPHQWH DWHXV DWHXV FRPR DV SHVVRDV UHOLJLRVDV QmR DGPLWHP TXH
SRVVDKDYrORV(VWDRSLQLmRHUDQDWXUDOQXPKRPHPKDELWXDGRGHVGHDPRFLGDGHD
GLVVHFDURVHUSRUH[FHOrQFLDDQWHVGXUDQWHHGHSRLVGDYLGDDVRQGDUOKHWRGRVRV
yUJmRV VHP QHOHV HQFRQWUDU HVVD DOPD ~QLFD WmR QHFHVViULD jV WHRULDV UHOLJLRVDV
5HFRQKHFHQGR QHOH XP FHQWUR FHUHEUDO XP FHQWUR QHUYRVR H XP FHQWUR
DHURVVDQJXtQHRRVGRLVSULPHLURVGRVTXDLVVHVXEVWLWXHPDWDOSRQWRXPDRRXWUR
TXH R FLUXUJLmR QRV ~OWLPRV GLDV GD YLGD FKHJRX j FRQYLFomR GH TXH R VHQWLGR GR
RXYLGR QmR p DEVROXWDPHQWH QHFHVViULR SDUD RXYLU QHP R VHQWLGR GD YLVWD
DEVROXWDPHQWH QHFHVViULR SDUD YHU H TXH R SOH[R VRODU LQGXELWDYHOPHQWH RV
VXEVWLWXtD 'HVSOHLQ DR HQFRQWUDU GXDV DOPDV QR KRPHP FRUURERURX VHX DWHtVPR
SRU HVVH IDWR HPERUD HOH DLQGD QDGD SUHMXOJXH VREUH 'HXV (VVH KRPHP PRUUHX
VHJXQGR GL]HP QD LPSHQLWrQFLD ILQDO HP TXH GHVJUDoDGDPHQWH PRUUHUDP PXLWRV
EHORVJrQLRVDTXHP'HXVTXHLUDSHUGRDU
$YLGDGHVVHKRPHPWmRJUDQGHDSUHVHQWDYDPXLWDVSHTXHQH]DVSDUDHPSUHJDU
DH[SUHVVmRGHTXHVHVHUYLDPVHXVLQLPLJRVGHVHMRVRVGHGLPLQXLUVXDJOyULDPDV
TXH VHULD PDLV FRQYHQLHQWH GHQRPLQDU DEVXUGRV DSDUHQWHV 1D IDOWD FRPSOHWD GH
FRQKHFLPHQWR GDV GHWHUPLQDo}HV SHODV TXDLV DJHP RV HVStULWRV VXSHULRUHV RV
LQYHMRVRV H RV WRORV ORJR VH DUPDP GH DOJXPDV FRQWUDGLo}HV VXSHUILFLDLV SDUD
HVWDEHOHFHUXPOLEHORSHORTXDOID]HPMXOJiORVQRPRPHQWR6HPDLVWDUGHRr[LWR
FRURDDVFRPELQDo}HVDWDFDGDVPRVWUDQGRDVFRUUHODo}HVHQWUHRVSUHSDUDWLYRVHRV
UHVXOWDGRVVHPSUHVXEVLVWHXPSRXFRGDVFDO~QLDVDQWHULRUHV$VVLP1DSROHmRIRL
FRQGHQDGRSRUQRVVRVFRQWHPSRUkQHRVTXDQGRHVWHQGLDDVDVDVGHVXDiJXLDVREUH
D,QJODWHUUDIRLQHFHVViULRSDUDH[SOLFDUHDVEDUFDoDVGH%RXORJQH>@
(P 'HVSOHLQ FRPR D JOyULD H D FLrQFLD IRVVHP LQDWDFiYHLV VHXV LQLPLJRV
FULWLFDYDP VHX WHPSHUDPHQWR VLQJXODU VHX FDUiWHU HPERUD HOH SRVVXtVVH DSHQDV
HVVDTXDOLGDGHTXHRVLQJOHVHVGHQRPLQDPH[FHQWULFLW\9HVWLQGRVHVREHUEDPHQWH
DOJXPDVYH]HVFRPR&UpELOORQR7UiJLFR>@PDQLIHVWDYDGXPPRPHQWRSDUDR
RXWUR XPD VLQJXODU LQGLIHUHQoD HP PDWpULD GH YHVWXiULR HUD YLVWR RUD HP
FDUUXDJHP RUD D Sp 2UD EUXVFR RUD ERQGRVR DSDUHQWHPHQWH UtVSLGR H DYDUHQWR
PDV FDSD] GH RIHUHFHU VXD IRUWXQD D VHXV SDWU}HV>@ H[LODGRV TXH OKH GHUDP D
KRQUD GH DFHLWiOD SRU DOJXQV GLDV QHQKXP KRPHP LQVSLURX PDLRU Q~PHUR GH
MXOJDPHQWRVFRQWUDGLWyULRV(PERUDIRVVHFDSD]SDUDFRQVHJXLUXPDFRQGHFRUDomR
TXHXPPpGLFRQmRSUHFLVDULDGLVSXWDUGHGHL[DUFDLUGREROVRQD&RUWHXPOLYUR
GH RUDo}HV SRGHLV HVWDU FHUWR GH TXH LQWLPDPHQWH ]RPEDYD GH WXGR 7LQKD XP
SURIXQGRGHVSUH]RSHORVKRPHQVDSyVKDYrORVREVHUYDGRGHDOWRDEDL[RDSyVWr
ORV VXUSUHHQGLGR HP VXD YHUGDGHLUD H[SUHVVmR QR PHLR GRV DWRV PDLV VROHQHV H
PDLV PHVTXLQKRV GD H[LVWrQFLD 1XP JUDQGH KRPHP IUHTXHQWHPHQWH DV
TXDOLGDGHV VmR VROLGiULDV 6H HQWUH HVVHV FRORVVRV XP WHP PDLV WDOHQWR TXH
HVStULWR VHX HVStULWR DLQGD p PDLV DPSOR GR TXH R GDTXHOHV GH TXHP VH GL]
VLPSOHVPHQWHWHPHVStULWR7RGRJrQLRVXS}HXPDYLVmRPRUDO(VVDYLVmRSRGHVH
DSOLFDUDDOJXPDHVSHFLDOLGDGHPDVTXHPYrDIORUWDPEpPYrRVRO$TXHOHTXHDR
RXYLUXPGLSORPDWDVDOYRSRUHOHSHUJXQWDU³&RPRYDLRLPSHUDGRU"´OKHUHVSRQGH
³2FRUWHVmRUHDSDUHFHRKRPHPFRQWLQXDUi´QmRpDSHQDVFLUXUJLmRRXPpGLFRp
WDPEpP SURGLJLRVDPHQWH HVSLULWXRVR $VVLP R REVHUYDGRU SDFLHQWH H DVVtGXR GD
KXPDQLGDGHOHJLWLPDUiDVSUHWHQV}HVH[RUELWDQWHVGH'HVSOHLQHRMXOJDUiFRPRHOH
SUySULRVHMXOJDYDFDSD]GHVHUWmRJUDQGHPLQLVWURFRPRFLUXUJLmR
(QWUH RV HQLJPDV TXH D YLGD GH 'HVSOHLQ DSUHVHQWD DRV ROKRV GH YiULRV
FRQWHPSRUkQHRV HVFROKHPRV XP GRV PDLV LQWHUHVVDQWHV SRUTXH VXD FKDYH VH
HQFRQWUDUiQRILPGDQDUUDWLYDHRYLQJDUiGHDOJXPDVDFXVDo}HVWRODV
'H WRGRV RV DOXQRV TXH 'HVSOHLQ WHYH QR KRVSLWDO +RUiFLR %LDQFKRQ IRL XP
GDTXHOHV D TXH PDLV LQWHQVDPHQWH VH OLJRX $QWHV GH VHU LQWHUQR GR +{WHO
'LHX>@ +RUiFLR %LDQFKRQ HUD XP HVWXGDQWH GH PHGLFLQD TXH PRUDYD QXPD
PLVHUiYHO SHQVmR GR 4XDUWLHU /DWLQ FRQKHFLGD VRE R QRPH GH &DVD 9DXTXHU 2
SREUH UDSD] VRIULD Oi RV JROSHV GHVVD DUGHQWH PLVpULD HVSpFLH GH FULVRO GR TXDO RV
JUDQGHVWDOHQWRVGHYHPVDLUSXURVHLQFRUUXSWtYHLVFRPRGLDPDQWHVTXHSRGHPVHU
VXEPHWLGRV D WRGRV RV FKRTXHV VHP VH TXHEUDU $R IRJR YLROHQWR GH VXDV SDL[}HV
GHVHQIUHDGDV HOHV DGTXLUHP D PDLV LQDOWHUiYHO SURELGDGH H FRQWUDHP R KiELWR GDV
OXWDV TXH SUHSDUDP R JrQLR SHOR WUDEDOKR FRQVWDQWH GHQWUR GR TXDO DSULVLRQDUDP
VHXV DSHWLWHV IUXVWUDGRV +RUiFLR HUD XP UDSD] FRUUHWR LQFDSD] GH WHUJLYHUVDU QDV
TXHVW}HVGHKRQUDTXHLDGLUHWDPHQWHDRVIDWRVSURQWRDS{UDFDSDQRSUHJRSHORV
DPLJRV FRPR D GDUOKHV VHX WHPSR H VXDV YLJtOLDV +RUiFLR HUD HQILP XP GHVVHV
DPLJRVTXHQmRVHSUHRFXSDPFRPRTXHUHFHEHPHPWURFDGRTXHGmRFHUWRVGH
TXHUHFHEHUmRSRUVXDYH]PDLVGRTXHGHUDP$PDLRULDGHVHXVDPLJRVWLQKDSRU
HOHHVVHUHVSHLWRtQWLPRLQVSLUDGRSRUXPDYLUWXGHVHPrQIDVHHPXLWRVGHQWUHHOHV
WHPLDP VXD FHQVXUD (VVDV TXDOLGDGHV SRUpP +RUiFLR DV PDQLIHVWDYD VHP
SHGDQWLVPR 1HP SXULWDQR QHP PRUDOLVWD GLVFRUGDYD DPDYHOPHQWH GDQGR XP
FRQVHOKR H JRVWDYD GH WRPDU SDUWH QXPDSDWXVFDGD TXDQGR VH DSUHVHQWDYD XPD
RFDVLmR%RPFRPSDQKHLURQmRPDLVUHFDWDGRTXHXPFRXUDFHLURVLQFHURHIUDQFR
QmR FRPR XP PDULQKHLUR SRLV R PDULQKHLUR GH KRMH p XP GLSORPDWD ILQyULR PDV
FRPR XP EUDYR UDSD] TXH QmR WHP QDGD D HVFRQGHU QD YLGD FDPLQKDYD GH FDEHoD
HUJXLGDHPHQWHDOHJUH(QILPSDUDWXGRUHVXPLUQXPDIUDVH+RUiFLRHUDR3tODGHV
GH PDLV GH XP 2UHVWHV>@ QHVWD pSRFD HP TXH RV FUHGRUHV VmR FRQVLGHUDGRV D
SHUVRQLILFDomR PDLV UHDO GDV I~ULDV DQWLJDV &DUUHJDYD VXD SREUH]D FRP HVVD
MRYLDOLGDGH TXH p WDOYH] XP GRV PDLRUHV HOHPHQWRV GH FRUDJHP H FRPR WRGRV RV
TXH QDGD WrP FRQWUDtD SRXFDV GtYLGDV 6yEULR FRPR XP FDPHOR DOHUWD FRPR XP
FHUYR HUD ILUPH QDV LGHLDV H QD FRQGXWD $ YLGD IHOL] GH %LDQFKRQ FRPHoRX QR GLD
HPTXHRLOXVWUHFLUXUJLmRDGTXLULXDSURYDGDVTXDOLGDGHVHGRVGHIHLWRVTXHWDQWR
XQVFRPRRVRXWURVWRUQDPRGU+RUiFLR%LDQFKRQGXSODPHQWHSUHFLRVRSDUDVHXV
DPLJRV 4XDQGR XP FKHIH GH FOtQLFD WRPD XP UDSD] VRE VXD SURWHomR HVVH UDSD]
ILFDFRPRVHGL]FRPRSpQRHVWULER'HVSOHLQQmRGHL[DYDGHOHYDU%LDQFKRQSDUD
DMXGiORQDVFDVDVRSXOHQWDVRQGHTXDVHVHPSUHFDtDDOJXPDJUDWLILFDomRQREROVR
GRLQWHUQRHRQGHLQVHQVLYHOPHQWHVHGHVYHQGDYDPDRSURYLQFLDQRRVPLVWpULRVGD
YLGD SDULVLHQVH FRQVHUYDYDR QR JDELQHWH GXUDQWH DV FRQVXOWDV H GDYDOKH
RFXSDo}HV jV YH]HV PDQGDYDR DFRPSDQKDU XP GRHQWH ULFR jV iJXDV SUHSDUDYD
OKH HQILP XPD FOLHQWHOD 'LVVR UHVXOWD TXH DR ILP GXP FHUWR WHPSR R WLUDQR GD
FLUXUJLD SDVVRX D WHU XP GHGLFDGR DGPLUDGRU 2V GRLV KRPHQV XP QR DSRJHX GDV
KRQUDULDV H GD FLrQFLD GHVIUXWDQGR XPD LPHQVD IRUWXQD H XPD LPHQVD JOyULD R
RXWUR PRGHVWR {PHJD VHP IRUWXQD QHP JOyULD WRUQDUDPVH tQWLPRV 2 JUDQGH
'HVSOHLQFRQWDYDWXGRDVHXLQWHUQRRLQWHUQRVDELDVHWDOPXOKHUVHVHQWDUDQXPD
FDGHLUDMXQWRDRPHVWUHRXVREUHRIDPRVRFDQDSpTXHKDYLDQRJDELQHWHHQRTXDO
'HVSOHLQGRUPLD%LDQFKRQFRQKHFLDRVPLVWpULRVGDTXHOHWHPSHUDPHQWRGHOHmRH
GH WRXUR TXH DFDERX SRU DODUJDU DPSOLDU H[DJHUDGDPHQWH R EXVWR GR KRPHP H
FDXVRX VXD PRUWH SRU KLSHUWURILD GR FRUDomR (VWXGRX DV VLQJXODULGDGHV GDTXHOD
YLGDWmRDWDUHIDGDRVSURMHWRVGDTXHODDYDUH]DWmRVyUGLGDDVHVSHUDQoDVGRSROtWLFR
RFXOWR VRE R ViELR S{GH SUHYHU DV GHFHSo}HV TXH HVSHUDYDP R ~QLFR VHQWLPHQWR
RFXOWRQDTXHOHFRUDomRPHQRVGHEURQ]HTXHEURQ]HDGR
8P GLD %LDQFKRQ GLVVH D 'HVSOHLQ TXH XP SREUH FDUUHJDGRU GH iJXD GR
)DXERXUJ 6DLQW-DFTXHV HVWDYD FRP XPD GRHQoD KRUUtYHO FDXVDGD SHODV IDGLJDV H
SHODPLVpULDRSREUHDXYHUQrVFRPHUDVRPHQWHEDWDWDVGXUDQWHRULJRURVRLQYHUQR
GH'HVSOHLQGHL[RXWRGRVRVVHXVGRHQWHV&RPULVFRGHLQXWLOL]DUVHXFDYDOR
FRUUHX DFRPSDQKDGR GH %LDQFKRQ j FDVD GR SREUH KRPHP H HOH PHVPR R
WUDQVSRUWRXSDUDDFDVDGHVD~GHIXQGDGDSHORIDPRVR'XERLVQR)DXERXUJ6DLQW
'HQLV7UDWRXGRKRPHPDTXHPGHXTXDQGRVHUHVWDEHOHFHXDTXDQWLDQHFHVViULD
SDUD FRPSUDU XP FDYDOR H XPD SLSD 2 DXYHUQrV GLVWLQJXLXVH SRU XPD DomR
RULJLQDO 8P GH VHXV DPLJRV DGRHFHX H HOH R OHYRX LPHGLDWDPHQWH D 'HVSOHLQ
GL]HQGRDVHXEHQIHLWRU
²(XQmRDGPLWLULDTXHHOHIRVVHSURFXUDURXWURPpGLFR
3RUPDLVUDEXJHQWRTXHIRVVH'HVSOHLQDSHUWRXDPmRGRFDUUHJDGRUGHiJXDH
GLVVHOKH
²7UDJDWRGRVSDUDFi
(LQWHUQRXRKRPHPGH&DQWDO>@QR+{WHO'LHXRQGHRWUDWRXFRPRPDLRU
GHVYHOR%LDQFKRQMiQRWDUDYiULDVYH]HVQRFKHIHXPDSUHGLOHomRSHORVDXYHUQHVHV
HVREUHWXGRSHORVFDUUHJDGRUHVGHiJXDPDVFRPR'HVSOHLQVHRUJXOKDYDGHVHXV
FDVRVGR+{WHO'LHXRDOXQRQmRYLDQLVVRQDGDGHHVWUDQKR
8P GLD DR DWUDYHVVDU D SUDoD GH 6DLQW6XOSLFH %LDQFKRQ YLX VHX PHVWUH
HQWUDQGRQDLJUHMDjVQRYHKRUDVGDPDQKm'HVSOHLQTXHHQWmRQmRGDYDXPSDVVR
VHP R FDEULROp LD D Sp H HVJXHLUDYDVH SHOD UXH 3HWLW/LRQ FRPR TXHP WLYHVVH
HQWUDGR QXPD FDVD VXVSHLWD 1DWXUDOPHQWH WRPDGR GH FXULRVLGDGH R LQWHUQR TXH
FRQKHFLD DV RSLQL}HV GR PHVWUH H TXH HUD FDEDQLVWD HQG\DEUDGR FRP \ R TXH HP
5DEHODLV>@ UHSUHVHQWD XP GLDER HP DOWR JUDX  LQWURGX]LXVH IXUWLYDPHQWH QD
LJUHMD H QmR ILFRX SRXFR DGPLUDGR DR YHU R JUDQGH 'HVSOHLQ HVVH DWHX VHP
FRPSDL[mRSHORVDQMRVTXHQmRRIHUHFHPFDPSRDRVELVWXULVQHPSRGHPWHUItVWXODV
QHPJDVWULWHVHQILPHVVHLQWUpSLGRWURFLVWDKXPLOGHPHQWHDMRHOKDGRHRQGH"QR
DOWDUGD9LUJHPGLDQWHGRTXDORXYLXPLVVDGHXGLQKHLURSDUDDVGHVSHVDVGRFXOWR
HSDUDRVSREUHVPDQWHQGRVHVpULRFRPRVHVHWUDWDVVHGXPDRSHUDomR
³&HUWDPHQWH HOH QmR YHLR Fi SDUD HVFODUHFHU DV TXHVW}HV UHODWLYDV DR SDUWR GD
9LUJHP´ GL]LD FRQVLJR %LDQFKRQ FXMR HVSDQWR QmR WHYH OLPLWHV ³6H HX R YLVVH
VHJXUDQGR XP GRV FRUG}HV GR SiOLR QD SURFLVVmR GH &RUSXV &KULVWL D FRLVD VHULD
DSHQDVSDUDULUPDVDHVWDKRUDVR]LQKRVHPWHVWHPXQKDVQmRKiG~YLGDGHTXH
LVVRGiTXHSHQVDU´
%LDQFKRQQmRTXLVGDUDLPSUHVVmRGHDQGDUHVSLRQDQGRRSULPHLURFLUXUJLmRGR
+{WHO'LHX H VDLX 3RU DFDVR QHVVH PHVPR GLD 'HVSOHLQ R FRQYLGRX SDUD MDQWDU
QXP UHVWDXUDQWH (QWUH XP SUDWR H RXWUR %LDQFKRQ FRQVHJXLX SRU KiEHLV
SUHSDUDWLYRVIDODUVREUHDPLVVDTXDOLILFDQGRDGHSDOKDoDGDHGHIDUVD
² 8PD IDUVD ² GLVVH 'HVSOHLQ ² TXH FXVWRX PDLV VDQJXH j FULVWDQGDGH TXH
WRGDVDVEDWDOKDVGH1DSROHmRHWRGDVDVVDQJXHVVXJDVGH%URXVVDLV>@$PLVVD
p XPD LQYHQomR SDSDO TXH QmR GDWD GH DQWHV GR VpFXOR YL H TXH VH EDVHLD VREUH R
+RFHVWFRUSXV4XDQWDVWRUUHQWHVGHVDQJXHQmRIRLSUHFLVRGHUUDPDUSDUDLQVWLWXLU
DIHVWDGH&RUSXV&KULVWLFRPDTXDODFRUWHGH5RPDTXLVFRPSURYDUVXDYLWyULDQD
TXHVWmRGDSUHVHQoDUHDOFLVPDTXHGXUDQWHWUrVVpFXORVDJLWRXD,JUHMD$VJXHUUDV
GR FRQGH GH 7RORVD>@ H RV DOELJHQVHV IRUDP RV ~OWLPRV HSLVyGLRV GR FDVR 2V
YDOGHQVHVHRVDOELJHQVHV>@UHFXVDYDPVHDUHFRQKHFHUHVVDLQRYDomR
'HVSOHLQ GLYHUWLXVH HQILP HP GDU ODUJDV D VHX DWHtVPR GR TXH UHVXOWRX XPD
WRUUHQWHGHJUDFHMRV³YROWDLUHDQRV´RXSDUDVHUPDLVH[DWRXPDGHWHVWiYHOLPLWDomR
GR&LWDWHXU>@
³8p´GLVVH%LDQFKRQFRQVLJR³2QGHHVWiPHXGHYRWRGHVWDPDQKm"´
)LFRX HP VLOrQFLR GXYLGDQGR VH UHDOPHQWH YLUD VHX FKHIH HP 6DLQW6XOSLFH
'HVSOHLQQmRVHWHULDGDGRDRWUDEDOKRGHPHQWLUD%LDQFKRQFRQKHFLDPVHDPERV
PXLWREHPMiKDYLDPWURFDGRLGHLDVVREUHDVVXQWRVLJXDOPHQWHJUDYHVGLVFXWLQGR
VLVWHPDVGH QDWXUD UHUXP>@ VRQGDQGRRV RX GLVVHFDQGRRV FRP DV IDFDV H R
HVFDOSHORGDLQFUHGXOLGDGH3DVVDUDPVHWUrVPHVHV%LDQFKRQQXQFDIDORXQRIDWR
HPERUD HOH FRQWLQXDVVH JUDYDGR HP VXD PHPyULD 8P GLD QR PHVPR DQR XP
PpGLFR GR +{WHO'LHX WRPRX 'HVSOHLQ SHOR EUDoR GLDQWH GH %LDQFKRQ SDUD
LQWHUURJiOR
²(QWmRTXHIRLID]HUHP6DLQW6XOSLFHPHXFDURPHVWUH"²GLVVHOKH
² 9HU XP SDGUH TXH WHP XPD FiULH QR MRHOKR H D TXHP D VUD GXTXHVD
G¶$QJRXOrPH>@PHGHXDKRQUDGHPHUHFRPHQGDU²GLVVH'HVSOHLQ
2PpGLFRGHXVHSRUVDWLVIHLWRFRPDUHVSRVWDPDVQmR%LDQFKRQ
³$K (QWmR YDL YHU MRHOKRV GRHQWHV QD LJUHMD´ SHQVRX %LDQFKRQ ³(OH YDL p
DVVLVWLUjPLVVD´
%LDQFKRQ UHVROYHX HVSLDU 'HVSOHLQ /HPEURXVH GR GLD H GD KRUD HP TXH R
VXUSUHHQGHUDHQWUDQGRHP6DLQW6XOSLFHHGHFLGLXLUOiQRDQRVHJXLQWHQRPHVPR
GLD H QD PHVPD KRUD SDUD YHU VH R HQFRQWUDULD QRYDPHQWH (P WDO FDVR D
SHULRGLFLGDGH GH VXD GHYRomR DXWRUL]DULD XPD LQYHVWLJDomR FLHQWtILFD SRLV QXP
KRPHPFRPRDTXHOHQmRSRGLDKDYHUXPDFRQWUDGLomRGLUHWDHQWUHRSHQVDPHQWRH
DDomR1RDQRVHJXLQWHQRGLDHQDKRUDPDUFDGRV%LDQFKRQTXHMiQmRHUDPDLV
LQWHUQRGH'HVSOHLQYLXRFDEULROpGRFLUXUJLmRSDUDUjHVTXLQDGDUXD7RXUQRQFRP
DGR3HWLW/LRQGHRQGHRDPLJRVHHVJXHLURXMHVXLWLFDPHQWHDRORQJRGDVSDUHGHV
GH 6DLQW6XOSLFH RQGH WRUQRX D RXYLU D PLVVD QR DOWDU GD 9LUJHP (UD UHDOPHQWH
'HVSOHLQ R FLUXUJLmRFKHIH R DWHXLQ SHWWR>@ R GHYRWR LQHVSHUDGR 2 FDVR
FRPSOLFDYDVH $ SHUVLVWrQFLD GR LOXVWUH ViELR DWUDSDOKDYD WXGR 4XDQGR 'HVSOHLQ
VDLX %LDQFKRQ DSUR[LPRXVH GR VDFULVWmR H SHUJXQWRXOKH VH DTXHOH VHQKRU
FRVWXPDYDIUHTXHQWDUDLJUHMD
² (VWRX DTXL Ki YLQWH DQRV ² GLVVH R VDFULVWmR ² H GHVGH HVVH WHPSR R VU
'HVSOHLQYHPTXDWURYH]HVSRUDQRRXYLUHVWDPLVVD)RLHOHTXHDLQVWLWXLX
²0LVVDLQVWLWXtGDSRUHOH²GLVVH%LDQFKRQDIDVWDQGRVH²eWmRJUDYHFRPR
RPLVWpULRGD,PDFXODGD&RQFHLomRXPDFRLVDTXHSRUVLVyEDVWDSDUDWRUQDUXP
PpGLFRLQFUpGXOR
'HFRUUHX DOJXP WHPSR VHP TXH R GU %LDQFKRQ HPERUD IRVVH DPLJR GH
'HVSOHLQWLYHVVHXPDRSRUWXQLGDGHGHIDODUOKHQHVVDSDUWLFXODULGDGHGHVXDYLGD
(QFRQWUDYDPVH HP FRQIHUrQFLDV PpGLFDV H HP UHXQL}HV VRFLDLV RQGH HUD GLItFLO
HVWDEHOHFHU XP GHVVHV PRPHQWRV GH FRQILDQoD H GH VROLGmR HP TXH FRP RV SpV j
ERUGD GD HVWXID D FDEHoD DSRLDGD QR HQFRVWR GD SROWURQD GRLV KRPHQV ID]HP
FRQILGrQFLDV)LQDOPHQWHVHWHDQRVPDLVWDUGHDSyVDUHYROXomRGHTXDQGRR
SRYR VH DUUHPHVVDYD FRQWUD R DUFHELVSDGR TXDQGR DV LQVSLUDo}HV UHSXEOLFDQDV R
LQFLWDYDP D GHVWUXLU DV FUX]HV GRXUDGDV TXH EULOKDYDP FRPR IRFRV GH OX] QD
LPHQVLGDGH GDTXHOH RFHDQR GH FDVDV TXDQGR D LQFUHGXOLGDGH DOLDGD j UHYROWD
DJLWDYD DV UXDV %LDQFKRQ VXUSUHHQGHX QRYDPHQWH 'HVSOHLQ HQWUDQGR HP 6DLQW
6XOSLFH 2 GRXWRU VHJXLXR H FRORFRXVH D VHX ODGR VHP TXH R DPLJR OKH IL]HVVH R
PtQLPR JHVWR RX WHVWHPXQKDVVH D PtQLPD VXUSUHVD $PERV RXYLUDP D PLVVD
LQVWLWXtGDSRU'HVSOHLQ
² 4XHU GL]HUPH PHX FDUR ² GLVVH %LDQFKRQ D 'HVSOHLQ TXDQGR VDtUDP GD
LJUHMD²DUD]mRGHVVDVXDGHYRomRILQJLGD"-ipDWHUFHLUDYH]TXHRVXUSUHHQGRQD
PLVVD 2 VHQKRU YDL HVFODUHFHUPH HVVH PLVWpULR H H[SOLFDUPH R IODJUDQWH
GHVDFRUGRHQWUHVXDVRSLQL}HVHVXDFRQGXWD2VHQKRUQmRDFUHGLWDHP'HXVHYDLj
PLVVD0HXFDURPHVWUHHVWiREULJDGRDUHVSRQGHUPH
² )DoR FRPR PXLWRV GHYRWRV KRPHQV SURIXQGDPHQWH UHOLJLRVRV QD DSDUrQFLD
PDVWmRDWHXVFRPRSRVVDPRVVHUHXHYRFr
( GHVHQFDGHRX XPD WRUUHQWH GH HSLJUDPDV VREUH DOJXPDV SHUVRQDOLGDGHV
SROtWLFDVDPDLVFRQKHFLGDGDVTXDLVQRVRIHUHFHQHVWHVpFXORXPDQRYDHGLomRGR
7DUWXIR>@GH0ROLqUH
²1mRpLVVRTXHHVWRXSHUJXQWDQGR²GLVVH%LDQFKRQ²4XHURVDEHUDSHQDVR
TXHpTXHYHPID]HUDTXLHSRUTXHLQVWLWXLXHVWDPLVVD
²(VWiEHPPHXFDUR²GLVVH'HVSOHLQ²-iPHHQFRQWURjEHLUDGDVHSXOWXUDH
SRVVRPXLWREHPIDODUOKHVREUHRFRPHoRGDPLQKDYLGD
1HVVHPRPHQWR%LDQFKRQHRJUDQGHKRPHPSDVVDYDPSHODUXH4XDWUH9HQWV
XPDGDVPDLVKRUUtYHLVGH3DULV'HVSOHLQPRVWURXRVH[WRDQGDUGXPDGHVVDVFDVDV
TXH SDUHFHP XP REHOLVFR FXMD SRUWD EDVWDUGD Gi SDUD XPD iUHD QR ILP GD TXDO
H[LVWH XPD HVFDGD WRUWXRVD LOXPLQDGD SRU PLQ~VFXODV MDQHODV HUURQHDPHQWH
GHQRPLQDGDV yFXORV SRLV QD YHUGDGH QmR GHL[DP YHU TXDVH QDGD (UD XPD FDVD
HVYHUGHDGD HP FXMR SDYLPHQWR WpUUHR PRUDYD XP FRPHUFLDQWH GH PyYHLV H TXH
SDUHFLDKRVSHGDUHPFDGDSDYLPHQWRXPDPLVpULDGLIHUHQWH(UJXHQGRREUDoRQXP
JHVWRHQpUJLFR'HVSOHLQGLVVHD%LDQFKRQ
²0RUHLOiHPFLPDGRLVDQRV
²(XVHL'¶$UWKH]>@PRURXOiWDPEpPHHXLDOiTXDVHWRGRVRVGLDVTXDQGR
UDSD]LQKR1yVFKDPiYDPRVHVVDFDVDGHWRFDGRVJUDQGHVKRPHQV(HQWmR"
²$PLVVDTXHDFDERGHRXYLUHVWiOLJDGDDRVDFRQWHFLPHQWRVTXHVHYHULILFDUDP
TXDQGRHXPRUDYDQDPDQVDUGDRQGHYRFrPHGL]TXHPRURXG¶$UWKH]DTXHODHP
FXMDMDQHODVHEDODQoDXPDFRUGDFRPURXSDSRUFLPDGXPYDVRGHIORUHV7LYHXP
FRPHoRGHYLGDWmRGXURPHXFDUR%LDQFKRQTXHSRVVRGLVSXWDUDTXDOTXHUXPD
SDOPD GRV VRIULPHQWRV SDULVLHQVHV 6XSRUWHL WXGR IRPH VHGH IDOWD GH GLQKHLUR
IDOWD GH URXSD GH FDOoDGR H GH FDPLVDV WXGR R TXH D PLVpULD WHP GH PDLV UXGH
$VVRSUHL QRV GHGRV HQWRUSHFLGRV GH IULR QHVVDWRFD GRV JUDQGHV KRPHQV TXH HX
JRVWDULD GH UHYHU FRP YRFr 7UDEDOKHL GXUDQWH XP LQYHUQR YHQGR PLQKD FDEHoD
IXPHJDUHGLVWLQJXLQGRRDUGHPLQKDUHVSLUDomRFRPRVHYrDGRVFDYDORVQXPGLD
GH JHDGD 1mR VHL RQGH p TXH VH WRPD XP SRQWR GH DSRLR SDUD VXSRUWDU XPD YLGD
GHVVDV (UD VR]LQKR VHP UHFXUVRV VHP GLQKHLUR SDUD FRPSUDU OLYURV QHP SDUD
SDJDU DV GHVSHVDV GR PHX FXUVR PpGLFR FRPR QmR WLQKD DPLJRV PHX JrQLR
LUDVFtYHO VRPEULR LQTXLHWR PH SUHMXGLFDYD 1LQJXpP TXHULD YHU QDV PLQKDV
LUULWDo}HV D SHQ~ULD H R HVIRUoR GXP KRPHP TXH GR IXQGR GD VLWXDomR VRFLDO HP
TXH HVWi VH DJLWD SDUD FKHJDU j VXSHUItFLH 7LQKD SRUpP H SRVVR GL]rOR D YRFr
GLDQWHGHTXHPQmRWHQKRQHFHVVLGDGHGHILQJLUHVVDUHVHUYDGHERQVVHQWLPHQWRVH
GH LQWHQVD VHQVLELOLGDGH TXH VHUi VHPSUH R DSDQiJLR GRV KRPHQV VXILFLHQWHPHQWH
IRUWHVSDUDJDOJDUXPDHOHYDomRTXDOTXHUDSyVWHUSDWLQKDGRGXUDQWHPXLWRWHPSR
QRV ORGDoDLV GD PLVpULD (X QmR SRGLD DUUDQFDU QDGD GD PLQKD IDPtOLD QHP GD
PLQKD WHUUD DOpP GD LQVXILFLHQWH SHQVmR TXH PH HQYLDYDP 1DTXHOD pSRFD
SRUWDQWR HX FRPLD SHOD PDQKm XP SmR]LQKR TXH R SDGHLUR GD UXH 3HWLW/LRQ PH
YHQGLDPDLVEDUDWRSRUTXHHUDGDYpVSHUDRXGDDQWHYpVSHUDHTXHHXDPROHFLDQR
OHLWH DVVLP PLQKD UHIHLomR GD PDQKm QmR PH FXVWDYD PDLV GH GRLVVRXV>@
-DQWDYDVRPHQWHGHGRLVHPGRLVGLDVQXPDSHQVmRRQGHRMDQWDUFXVWDYDGH]HVVHLV
VRXV 'HVVH PRGR QmR JDVWDYD PDLV GH QRYHVRXV SRU GLD 9RFr SRGH FDOFXODU WmR
EHPFRPRHXRFXLGDGRTXHSRGLDGDUjURXSDHDRFDOoDGR1mRVHLVHPDLVWDUGH
H[SHULPHQWDPRVWDQWRSHVDUSHODWUDLomRGXPFROHJDFRPRRTXHVHQWLPRVYRFrH
HXDRYHUDULGtFXODFDUHWDGXPVDSDWRTXHVHGHVFRVHDRRXYLUUDQJHUDFDYDGXPD
VREUHFDVDFD 6y EHELD iJXD WLQKD R PDLRU UHVSHLWR SHORV FDIpV =RSSL>@ PH
DSDUHFLD FRPR XPD WHUUD SURPHWLGD RQGH VRPHQWH RV /~FXORV>@ GD WHUUD ODWLQD
WLQKDP GLUHLWR GH SUHVHQoD ³3RGHUHL DOJXPD YH]´ GL]LD FRPLJR ³LU Oi WRPDU XPD
WDoDGHFDIpFRPFUHPHHMRJDUXPDSDUWLGDGHGRPLQyV"´$VVLPDSOLFDYDDRVPHXV
HVWXGRV D UDLYD TXH D PLVpULD PH LQVSLUDYD 7UDWDYD GH DGTXLULU FRQKHFLPHQWRV
SRVLWLYRV D ILP GH FRQTXLVWDU XP LPHQVR YDORU SHVVRDO SDUD PHUHFHU R OXJDU TXH
DWLQJLULDQRGLDHPTXHVDtVVHGRPHXQDGD*DVWDYDPDLVyOHRTXHSmRDOX]TXH
PH LOXPLQDYD GXUDQWH HVVDV QRLWHV REVWLQDGDV FXVWDYD PDLV TXH PLQKD
DOLPHQWDomR(VVHGXHORIRLORQJRWHLPRVRVHPFRQVROR1mRGHVSHUWDYDVLPSDWLD
DOJXPD HP WRUQR GH PLP 3DUD WHU DPLJRV p SUHFLVR MXQWDUVH FRP RV PRoRV
SRVVXLU DOJXP GLQKHLUR SDUD LU EHEHU FRP HOHV DFRPSDQKiORV D WRGRV RV OXJDUHV
RQGHYmRRVHVWXGDQWHV(XQmRWLQKDQDGD(QLQJXpPHP3DULVFRPSUHHQGHTXH
QDGDpQDGD4XDQGRWLQKDGHS{UDGHVFREHUWRPLQKDPLVpULDVHQWLDQDJDUJDQWDD
FRQWUDomRQHUYRVDTXHOHPEUDHVVHVGRHQWHVTXHVHTXHL[DPGXPDERODTXHVREHGR
HVW{PDJR j ODULQJH (QFRQWUHL PDLV WDUGH PXLWD JHQWH QDVFLGD ULFD H TXH QXQFD
WHQGRVHQWLGRIDOWDGHQDGDQmRFRQKHFHHVWHSUREOHPDGDUHJUDGHWUrV8PUDSD]
HVWi SDUD R FULPH FRPR XPD PRHGD GH FHP VRXVHVWi SDUD [ (VVHV LPEHFLV
SLQWDGRV GH RXUR PH GL]LDP ³0DV SRU TXH ID]LD GtYLGDV" 3RU TXH FRQWUDtD
REULJDo}HVRQHURVDV"´)D]HPPHSHQVDUQDTXHODSULQFHVDTXHDRVDEHUTXHRSRYR
HVWDYD PRUUHQGR GH IRPH GL]LD ³0DV SRU TXH p TXH QmR FRPSUDP EULRFKHV"´ (X
JRVWDULDGHYHUXPGHVVHVULFRVTXHVHTXHL[DPGHTXHFREURPXLWRFDURSDUDRSHUi
ORV VLP JRVWDULD GH YrOR VR]LQKR HP 3DULV VHP HLUD QHP EHLUD VHP XP DPLJR
VHPFUpGLWRHREULJDGRDWUDEDOKDUFRPRVFLQFRGHGRVSDUDYLYHU4XHIDULD"2QGH
LULD DFDOPDU D IRPH" %LDQFKRQ VH DOJXPDV YH]HV YRFr PH YLX DPDUJR H UtVSLGR p
SRUTXHQHVVDVRFDVL}HVHXVREUHSXQKDPHXVDQWLJRVVRIULPHQWRVjLQVHQVLELOLGDGH
DR HJRtVPR GH TXH WHQKR PLOKDUHV GH SURYDV QDV DOWDV HVIHUDV RX SRUTXH HVWDYD
SHQVDQGRQRVREVWiFXORVTXHRyGLRDLQYHMDRFL~PHHDFDO~QLDHUJXHUDPHQWUHR
r[LWRHPLP(P3DULVTXDQGRFHUWDJHQWHQRVYrSURQWRVDS{URSpQRHVWULERXQV
QRVSX[DPSHODDEDGRFDVDFRRXWURVDIURX[DPDEDUULJXHLUDSDUDTXHTXHEUHPRV
DFDEHoDDRFDLUHVWHDUUDQFDDVIHUUDGXUDVGRFDYDORDTXHOHQRVURXEDRFKLFRWHR
PHQRV SpUILGR p DTXHOH TXH ILFD j QRVVD HVSHUD SDUD GDUQRV XP WLUR j TXHLPD
URXSD 9RFr WHP WDOHQWR VXILFLHQWH PHX FDUR SDUD TXH ORJR YHQKD D FRQKHFHU D
EDWDOKDWHUUtYHOLQFHVVDQWHTXHDPHGLRFULGDGHPRYHDRKRPHPVXSHULRU6HYRFr
SHUGHUYLQWHHFLQFROXtVHVQXPDQRLWHQRGLDVHJXLQWHVHUiDFXVDGRGHVHUMRJDGRU
HVHXVPHOKRUHVDPLJRVGLUmRTXHYRFrSHUGHXQDYpVSHUDYLQWHHFLQFRPLOIUDQFRV
6H HVWLYHU FRP GRU GH FDEHoD SDVVDUi SRU ORXFR 6H WLYHU XP SRXFR GH YLYDFLGDGH
GLUmRTXHpLQVDFLiYHO6HSDUDHQIUHQWDUHVVHEDWDOKmRGHSLJPHXVYRFrVHDUPDU
GH IRUoDV VXSHULRUHV VHXV PHOKRUHV DPLJRV VDLUmR D JULWDU TXH YRFr TXHU GHYRUDU
WXGR TXH WHP D SUHWHQVmR GH GRPLQDU GH WLUDQL]DU (QILP VXDV TXDOLGDGHV VH
WUDQVIRUPDUmRHPGHIHLWRVVHXVGHIHLWRVVHWUDQVIRUPDUmRHPYtFLRVHVXDVYLUWXGHV
VHUmR FULPHV 6H VDOYDU DOJXpP GLUmR TXH SRGHULD WrOR PDWDGR VH VHX GRHQWH VH
UHVWDEHOHFHFRQVWDUiTXHYRFrFRQVHJXLXFXUiORjFXVWDGHVXDVD~GHIXWXUDVHQmR
PRUUHX Ki GH PRUUHU XP GLD &RPHWD XP HUUR H ILFDUi OLTXLGDGR ,QYHQWH R TXH
TXLVHUUHFODPHVHXVGLUHLWRVHVHUiFRQVLGHUDGRXPVXMHLWRLQWUDWiYHOXPILQyULR
TXH QmR TXHU GHL[DU RV MRYHQV VXELU 3RU LVVR PHX FDUR VH QmR FUHLR HP 'HXV
PXLWR PHQRV QRV KRPHQV 9RFr QmR FRQKHFH HP PLP XP 'HVSOHLQ LQWHLUDPHQWH
GLIHUHQWH GR 'HVSOHLQ TXH WRGRV LPDJLQDP" 0DV QmR YDPRV UHPH[HU HVWH PRQWmR
GHORGR&RPRHVWDYDGL]HQGRPRUDYDQHVVDFDVDHVWDYDHVWXGDQGRSDUDID]HUPHX
SULPHLUR H[DPH H QmR WLQKD GLQKHLUR DOJXP 9RFr FRPSUHHQGH &KHJDUD D XP
GHVVHV H[WUHPRV HP TXH D JHQWH VH GL]9RX DOLVWDUPH 7LQKD XPD HVSHUDQoD
(VSHUDYD GH PLQKD WHUUD XPD PDOD FKHLD GH URXSD EUDQFD XP SUHVHQWH GHVVDV
YHOKDV WLDV TXH FRPR QmR FRQKHFHP QDGD GH 3DULV SHQVDP HP QRVVDV FDPLVDV
LPDJLQDQGRTXHFRPWULQWDIUDQFRVSRUPrVVHXVREULQKRYLYHDSmRGHOy$PDOD
FKHJRXQXPDRFDVLmRHPTXHHXHVWDYDQDHVFROD2IUHWHFXVWDUDTXDUHQWDIUDQFRV
HRSRUWHLURXPVDSDWHLURDOHPmRTXHPRUDYDQXPVyWmRRVSDJDUDHILFDUDFRPD
PDODHPVHXSRGHU6DtDSDVVHDUSHODUXH)RVVpV6DLQW*HUPDLQGHV3UpVHSHODUXH
GHO¶eFROHGH0pGHFLQHVHPSRGHUGHVFREULUXPHVWUDWDJHPDTXHIL]HVVHDPDODYLU
WHU D PLQKDV PmRV VHP VHU REULJDGR D HQWUHJDU RV TXDUHQWD IUDQFRV TXH
QDWXUDOPHQWH HX SDJDULD DSyV YHQGHU D URXSD 0LQKD HVWXSLGH] PH FRQYHQFHX GH
TXHPLQKD~QLFDYRFDomRHUDDFLUXUJLD0HXFDURDVDOPDVGHOLFDGDVFXMDHQHUJLD
VH H[HUFH QXPD HVIHUD HOHYDGD QmR SRVVXHP HVVH HVStULWR GH LQWULJD IpUWLO HP
H[SHGLHQWHV HP SODQRV VHX HQJHQKR p R DFDVR HODV QmR SURFXUDP HQFRQWUDP
)LQDOPHQWH YROWHL SDUD FDVD j QRLWH QR PRPHQWR HP TXH WDPEpP YROWDYD PHX
YL]LQKRXPFDUUHJDGRUGHiJXDFKDPDGR%RXUJHDWXPKRPHPGH6DLQW)ORXU1yV
QRVFRQKHFtDPRVFRPRVHFRQKHFHPGRLVORFDWiULRVTXHWrPRVTXDUWRVQRPHVPR
DQGDUTXHVHRXYHPUHVVRQDUWRVVLUYHVWLUVHHTXHDFDEDPKDELWXDQGRVHXPDR
RXWUR0HXYL]LQKRLQIRUPRXPHTXHRSURSULHWiULRDTXHPHXGHYLDWUrVDOXJXpLV
PHPDQGDUDHPERUDHTXHHXGHYLDDEDQGRQDUDFDVDQRGLDVHJXLQWH(OHSUySULR
WLQKDVLGRH[SXOVRGHYLGRjVXDSURILVVmR3DVVHLDQRLWHPDLVSHQRVDGDPLQKDYLGD
2QGH DUUDQMDU XP FDUUHJDGRU SDUD OHYDU PHXV SREUHV WUDVWHV PHXV OLYURV" &RPR
SDJDURFDUUHJDGRUHRSRUWHLUR"3DUDRQGHLU"(VWDVSHUJXQWDVVHPUHVSRVWDVHXDV
UHSHWLDHQWUHOiJULPDVFRPRRVORXFRVUHSHWHPVHXVHVWULELOKRV'RUPL$PLVpULD
WHP D VHX IDYRU XP VRQR GLYLQR FKHLR GH EHORV VRQKRV 1D PDQKm VHJXLQWH
HQTXDQWRFRPLDPLQKDWLJHODGHSmRPROKDGRQROHLWH%RXUJHDWHQWURXHPHGLVVH
² 6U HVWXGDQWH VRX XP KRPHP SREUH FULDQoD DFKDGD QR KRVSLWDO GH 6DLQW
)ORXUVHPSDLQHPPmHHQmRWHQKRGLQKHLURTXHFKHJXHSDUDPHFDVDU2VHQKRU
QmR p PDLV FKHLR GH SDUHQWHV GR TXH HX QHP WHP GLQKHLUR (VFXWH WHQKR Oi
HPEDL[R XP FDUULQKR GH PmR TXH DOXJXHL D GRLVVRXV SRU KRUD H DV QRVVDV FRLVDV
WRGDV SRGHP FDEHU GHQWUR GHOH VH R VHQKRU TXLVHU GDUHPRV XP MHLWR SDUD PRUDU
MXQWRVSRLVIRPRVSRVWRVSDUDIRUDGDTXL,VWRDTXLDILQDOQmRpQHQKXPSDUDtVR
WHUUHVWUH
² 6HL GLVVR ² UHVSRQGL ² PHX EUDYR %RXUJHDW PDV HVWRX PXLWR HPEDUDoDGR
SRUTXHWHQKROiHPEDL[RXPDPDODTXHFRQWpPXQVFHPHVFXGRVHPURXSDEUDQFD
FRPRVTXDLVSRGHULDSDJDURVHQKRULRHRSRUWHLURHQmRWHQKRFHPVRXV
² 2UD 7HQKR XQV FREUHV ² UHVSRQGHXPH DOHJUHPHQWH %RXUJHDW PRVWUDQGR
XPDYHOKDHVXMDEROVDGHFRXUR²)LTXHFRPVXDURXSD
%RXUJHDWSDJRXPHXVWUrVDOXJXpLVRVHXHGHXRGLQKHLURGRSRUWHLUR'HSRLV
PHWHX PHXV WUDVWHV H PLQKD URXSD QR FDUULQKR H VDLX D HPSXUUiOR SHODV UXDV
GHWHQGRVH GLDQWH GH FDGD FDVD TXH WLYHVVH XP OHWUHLUR (X VXELD SDUD YHU VH R
TXDUWR QRV FRQYLQKD $R PHLRGLD HUUiYDPRV DLQGD SHOR 4XDUWLHU /DWLQ VHP WHU
HQFRQWUDGR QDGD 2 SUHoR HUD XP JUDQGH REVWiFXOR %RXUJHDW FRQYLGRXPH SDUD
DOPRoDUQDFDVDGXPFRPHUFLDQWHGHYLQKRHGHL[DPRVRFDUULQKRjSRUWD¬WDUGH
GHVFREUL QR EHFR GH 5RKDQ SDVVDJH GX &RPPHUFH QXP VREUDGR ORJR DEDL[R GR
WHOKDGR GRLV TXDUWRV VHSDUDGRV SHOD HVFDGD ( RV DOXJDPRV SRU VHVVHQWD IUDQFRV
DQXDLV FDGD XP ( HLVQRV LQVWDODGRV HX H PHX KXPLOGH DPLJR -DQWDPRV MXQWRV
%RXUJHDWTXHJDQKDYDFHUFDGHFLQTXHQWDVRXVSRUGLDSRVVXtDXQVFHPHVFXGRVH
ORJRLDSRGHUUHDOL]DUVXDDPELomRFRPSUDQGRXPDSLSDHXPFDYDOR$RVDEHUGD
PLQKD VLWXDomR SRLV DUUDQFRX PHXV VHJUHGRV FRP XPD DVW~FLD DGPLUiYHO H XPD
VLPSOLFLGDGHFXMDUHFRUGDomRDLQGDKRMHPHVDFRGHRFRUDomRUHQXQFLRXSRUDOJXP
WHPSR DR VRQKR GH WRGD VXD YLGD %RXUJHDW YHQGLD iJXD FDUUHJDQGR RV EDOGHV QDV
FRVWDVKDYLDYLQWHHGRLVDQRVHVDFULILFRXVHXVFHPHVFXGRVDPHXIXWXURµ
1HVVHSRQWR'HVSOHLQDSHUWRXYLROHQWDPHQWHREUDoRGH%LDQFKRQ
²'HXPHRGLQKHLURQHFHVViULRSDUDPHXVH[DPHV(VVHKRPHPPHXDPLJR
FRPSUHHQGHXTXHHXWLQKDXPDPLVVmRTXHDVQHFHVVLGDGHVGDPLQKDLQWHOLJrQFLD
HUDP PDLV LPSRUWDQWHV TXH DV GHOH 2FXSRXVH GH PLP FKDPDYDPH VHXPHQLQR
HPSUHVWRXPH GLQKHLUR SDUD FRPSUDU OLYURV H jV YH]HV YLQKD GH PDQVLQKR HVSLDU
PH HVWXGDU 7RPRX SUHFDXo}HV PDWHUQDLV SDUD TXH HX VXEVWLWXtVVH D DOLPHQWDomR
LQVXILFLHQWHHPiDTXHHVWDYDFRQGHQDGRSRUXPDDOLPHQWDomRVDGLDHDEXQGDQWH
%RXUJHDW KRPHP GH FHUFD GH TXDUHQWD DQRV WLQKD XPD ILVLRQRPLD EXUJXHVD GD
,GDGH 0pGLD XPD IURQWH DUTXHDGD XPD FDEHoD TXH XP SLQWRU SRGHULD DSURYHLWDU
SDUDPRGHORGXP/LFXUJR>@2SREUHKRPHPVHQWLDRFRUDomRWUDQVERUGDQWHGH
DIHLomR D HPSUHJDU QXQFD IRUD HVWLPDGR D QmR VHU SRU XP FDFKRUUR PRUWR KDYLD
SRXFR WHPSR H GR TXDO VHPSUH PH IDODYD SHUJXQWDQGRPH VH HX DFKDYD TXH D
,JUHMD FRQVHQWLULD HP UH]DU PLVVDV SHOR UHSRXVR GD DOPD GR DQLPDO 6HX FDFKRUUR
GL]LDHOHHUDXPYHUGDGHLURFULVWmRTXHGXUDQWHGR]HDQRVRDFRPSDQKDUDjLJUHMD
VHPQXQFDWHUODWLGRRXYLQGRRyUJmRVHPDEULUDERFDHSHUPDQHFHQGRDJDFKDGR
DR ODGR GHOH QXPD DWLWXGH TXH GDYD D LPSUHVVmR GH HVWDU UH]DQGR FRP HOH (VVH
KRPHP WUDQVIHULX SDUD PLP WRGD VXD DIHLomR DFROKHXPH FRPR XPD FULDWXUD
VROLWiULD H VRIUHGRUD WRUQRXVH SDUD PLP D PmH PDLV DWHQFLRVD R EHQIHLWRU PDLV
GHOLFDGR R LGHDO HQILP GHVVD YLUWXGH TXH VH VDWLVID] SRU VL PHVPD 4XDQGR HX R
HQFRQWUDYDQDUXDHOHPHGLULJLDXPROKDUGHLQWHOLJrQFLDFKHLRGXPDLQFRQFHEtYHO
GLJQLGDGH ILQJLD HQWmR FDPLQKDU FRPR VH QmR FDUUHJDVVH QDGD QDV FRVWDV H
PRVWUDYDVHFRQWHQWHSRUPHYHUVDGLRHEHPYHVWLGR)RLXPDGHGLFDomRFRPRDGR
SRYR XPD DIHLomR GH UDSDULJD WUDQVSRUWDGD SDUD XPD HVIHUD HOHYDGD %RXUJHDW
OHYDYD PHXV UHFDGRV GHVSHUWDYDPH j QRLWH jV KRUDV PDUFDGDV OLPSDYD PHX
ODPSLmR HVIUHJDYD R SDWDPDU GD HVFDGD HUD WmR ERP FULDGR FRPR ERP SDL H
DVVHDGR FRPR XPD FULDGD LQJOHVD 7RPDYD FRQWD GH FDVD &RPR )LORSrPHQ>@
FRUWDYDQRVVDOHQKDHFRPXQLFDYDDWRGRVRVVHXVDWRVXPDVLPSOLFLGDGHDEVROXWD
FRQVHUYDQGRDGLJQLGDGHSRLVSDUHFLDFRPSUHHQGHUTXHRREMHWLYRHQREUHFLDWXGR
4XDQGR GHL[HL HVVH EUDYR KRPHP SDUD LQJUHVVDU QR +{WHO'LHX FRPR LQWHUQR HOH
ILFRX WULVWH SRUTXH QmR SRGHULD FRQWLQXDU YLYHQGR FRPLJR FRQVRORXVH SRUpP
FRPDSHUVSHFWLYDGHMXQWDUGLQKHLURSDUDFXVWHDUPLQKDWHVHHPHIH]SURPHWHUTXH
LULD YLVLWiOR QRV GLDV GH VDtGD %RXUJHDW RUJXOKDYDVH GH PLP HVWLPDYDPH SRU
PLPHSRUHOH6HYRFrH[DPLQDUPLQKDWHVHYHUiTXHpGHGLFDGDDHOH1R~OWLPR
DQR GR PHX LQWHUQDWR HX Mi JDQKDUD GLQKHLUR VXILFLHQWH SDUD SDJDU WXGR TXDQWR
GHYLDDHVVHGLJQRDXYHUQrVHFRPSUHLOKHXPFDYDORHXPDSLSDHOHILFRXIXULRVR
SRU YHU TXH HX PH SULYDYD GH PHX GLQKHLUR H FRQWXGR HVWDYD HQFDQWDGR SRU YHU
VHXV VRQKRV UHDOL]DGRV ULD H FHQVXUDYDPH ROKDYD SDUD D SLSD H R FDYDOR H
HQ[XJDYDXPDOiJULPDDRGL]HUPH³1mRpGLUHLWR$KTXHEHODSLSD2VHQKRUIH]
PDO 2 FDYDOR p IRUWH FRPR XP DXYHUQrV´ 1XQFD YL QDGD PDLV SDWpWLFR TXH HVVD
FHQD%RXUJHDWIH]TXHVWmRFHUUDGDGHFRPSUDUSDUDPLPDTXHOHHVWRMRGHFLUXUJLmR
JXDUQHFLGRGHSUDWDTXHYRFrYLXQRPHXFRQVXOWyULRHTXHpDFRLVDPDLVSUHFLRVD
SDUD PLP (PERUD HOH ILFDVVH LQHEULDGR SHORV PHXV SULPHLURV r[LWRV QXQFD OKH
HVFDSRX D PtQLPD SDODYUD R PtQLPR JHVWR TXH TXLVHVVHP GL]HUe D PLP TXH VH
GHYHHVVHKRPHP(QRHQWDQWRVHQmRIRVVHHOHDPLVpULDWHULDDFDEDGRFRPLJR2
SREUHKRPHPFRQVXPLUDVHSRUPLPQmRFRPHUDPDLVTXHSmRFRPDOKRSDUDTXH
HXSXGHVVHWHUFDIpDILPGHVXSRUWDUPLQKDVYLJtOLDV&DLXGRHQWH&RPRYRFrEHP
SRGHLPDJLQDUSDVVHLDVQRLWHVjVXDFDEHFHLUDHFRQVHJXLVDOYiORQDSULPHLUDYH]
PDV WHYH XPD UHFDtGD GRLV DQRV PDLV WDUGH H D GHVSHLWR GRV FXLGDGRV PDLV
FRQVWDQWHV GRV PDLRUHV HVIRUoRV GD FLrQFLD VXFXPELX 1XQFD XP UHL IRL WUDWDGR
FRPR HOH R IRL 6LP %LDQFKRQ SDUD DUUDQFDU DTXHOD YLGD j PRUWH WHQWHL FRLVDV
LQFUtYHLV4XHULDTXHHOHYLYHVVHRVXILFLHQWHSDUDVHUWHVWHPXQKDGHVXDREUDSDUD
UHDOL]DUOKH WRGRV RV GHVHMRV SDUD VDWLVID]HU D ~QLFD JUDWLGmR TXH DWp DJRUD PH
HQFKHXRFRUDomRSDUDH[WLQJXLUXPDFKDPDTXHDLQGDKRMHPHTXHLPD
² %RXUJHDW ² FRQWLQXRX 'HVSOHLQ DSyV XPD SDXVD YLVLYHOPHQWH FRPRYLGR ²
PHXVHJXQGRSDLPRUUHXQRVPHXVEUDoRVGHL[DQGRPHWXGRTXDQWRSRVVXtDSRU
XP WHVWDPHQWR TXH IL]HUD QXP FDUWyULR H GDWDGR GR DQR HP TXH IRPRV PRUDU
MXQWRV QR EHFR GH 5RKDQ (VVH KRPHP WLQKD XPD Ip LQDEDOiYHO DPDYD D 6DQWD
9LUJHPFRPRWHULDDPDGRVXDHVSRVD&DWyOLFRDUGRURVRQXQFDPHGLVVHXPD~QLFD
SDODYUD VREUH PLQKD UHOLJLmR 4XDQGR SHUFHEHX TXH LD PRUUHU SHGLXPH TXH QmR
SRXSDVVHQDGDSDUDTXHHOHWLYHVVHRVRFRUURGD,JUHMD0DQGHLUH]DUPLVVDSRUHOH
WRGRVRVGLDV0XLWDVYH]HVGXUDQWHDQRLWHPDQLIHVWDYDUHFHLRVSHORIXWXURWHPLD
TXH QmR WLYHVVH OHYDGR XPD YLGD VXILFLHQWHPHQWH VDQWD 2 SREUH KRPHP
7UDEDOKDYDGDPDQKmjQRLWH$TXHPPDLVKiGHSHUWHQFHURSDUDtVRVHpTXHKi
XPSDUDtVR"5HFHEHXRV~OWLPRVVDFUDPHQWRVFRPRXPVDQWRTXHHUDHVXDPRUWH
IRLGLJQDGHVXDYLGD6HXHQWHUURIRLDFRPSDQKDGRDSHQDVSRUPLP4XDQGRDFDEHL
GH VHSXOWDU PHX ~QLFR EHQIHLWRU FRPHFHL D SHQVDU QXP PHLR GH VDOGDU PLQKD
GtYLGDFRPHOH9HULILTXHLTXHHOHQmRWLQKDIDPtOLDQHPDPLJRVQHPHVSRVDQHP
ILOKRV0DVWLQKDIp3RVVXtDXPDFRQYLFomRUHOLJLRVDHWHULDHXRGLUHLWRGHGLVFXWL
OD"(OHPHIDODUDWLPLGDPHQWHHPPLVVDVFHOHEUDGDVSHORUHSRXVRGRVPRUWRVPDV
QmR TXHULD LPSRUPH HVVH HQFDUJR FRQVLGHUDQGR TXH LVVR VHULD H[LJLU XP
SDJDPHQWRSRUVHXVIDYRUHV/RJRTXHFRQVHJXLGLQKHLURVXILFLHQWHSDUDXPOHJDGR
GHLjLJUHMDGH6DLQW6XOSLFHDTXDQWLDQHFHVViULDSDUDPDQGDUUH]DUTXDWURPLVVDV
SRU DQR &RPR D ~QLFD FRLVD TXH SRVVR RIHUHFHU D %RXUJHDW p D VDWLVIDomR GH VHXV
GHVHMRVSLHGRVRVQRGLDHPTXHVHUH]DHVVDPLVVDQRFRPHoRGHFDGDHVWDomRYRX
Oi HP VHX QRPH H UHFLWR SDUD HOH DV RUDo}HV GH FRVWXPH 'LJR FRP D ERDIp GR
PpGLFR³0HX'HXVVHKiXPDHVIHUDRQGHFRORFDVGHSRLVGDPRUWHRVTXHIRUDP
SHUIHLWRVSHQVDQRERP%RXUJHDWHVHHOHWHPGHVRIUHUDOJXPDFRLVDGiPHVHXV
VRIULPHQWRVSDUDTXHHOHHQWUHPDLVGHSUHVVDQLVVRTXHVHFKDPDSDUDtVR´$tHVWi
PHXFDURWXGRTXDQWRXPKRPHPTXHWHPPLQKDVRSLQL}HVVHSRGHSHUPLWLU'HXV
GHYH VHU XP ERP GLDER QmR Ki GH PH TXHUHU PDO SRU LVVR -XUROKH TXH GDULD
PLQKDIRUWXQDSDUDTXHDFUHQoDGH%RXUJHDWHQWUDVVHQDPLQKDFDEHoD
%LDQFKRQ TXH DWHQGHX 'HVSOHLQ HP VXD ~OWLPD HQIHUPLGDGH QmR RXVD DILUPDU
KRMH TXH R LOXVWUH FLUXUJLmR WHQKD PRUULGR DWHX 2V FUHQWHV QmR JRVWDUmR GH
LPDJLQDUTXHRKXPLOGHDXYHUQrVOKHWHQKDDEHUWRDSRUWDGRFpXFRPRRXWURUDOKH
DEULX D SRUWD GR WHPSOR WHUUHVWUH HP FXMR SyUWLFR VH Or$RV JUDQGHV KRPHQV D
SiWULDDJUDGHFLGD">@

3DULVMDQHLURGH