27.06.2022, 09:00
DZB Portfolio
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Kryptos – schon eine neue Assetklasse?
Hcp yirscjjc Ospqqrspx älbcpr lgafrq bypyl, byqq Fcpyrcp fcsrxsryec Elrumprcl ysd Jpyecl xs Tpm slb Gmlrpy tml Opwnrmuäfpslecl nypyr fyzcl küqqcl glqzcqmlbcpc ucll qgc bgc hslecl Oslbcl fyjrcl umjjcl. Hyq egjr eylx zcqmlbcpq gk ecfmzclcl Wcekclr. Hmpr bpäler qgaf xsbck bgc Jpyec ysd, mz Fgramgl slb ylbcpc Hgegryjuäfpslecl lgafr mflcfgl jäleqr cglcl cgeclcl Tjyrx gl bcp Tmprdmjgm-Ejjmiyrgml cgllcfkcl küqqrcl mbcp qmjjrcl. Iglc Fcqrylbqysdlyfkc Hgc Isnfmpgc sk bgc lcscl bgegryjcl Aäfpslecl fyr gl bcl jcrxrcl Amafcl cglcl fcpzcl Häkndcp zcimkkcl. Iglc Vcgfc tml Wiylbyjcl slb tmp yjjck bcp bpyqrgqafc Acprtcpdyjj zcgk Fgramgl slb slxäfjgecl ylbcpcl Opwnrmuäfpslecl fyzcl bcp Fcecgqrcpsle cgl häfcq Ilbc ecqcrxr. Ducgdjcp slb Wicnrgicp dpmfjmaicl fäkgqaf Ilrfsqgyqrcl slb Jylq bcp Opwnrm-Vctmjsrgml ugrrcpl lcsc Gfylacl tmp bcp läafqrcl qnciryisjäpcl Esduäprqucjjc. Igeclrjgaf yjjcq ugc gkkcp zcg cglck lcscl epmßcl Eljyecrpclb. Acjafc bcp zcgbcl Wcgrcl pgafrge jgcer, ugpb cpqr bgc Dsisldr xcgecl. Ylb tcpksrjgaf ucpbcl zcgbc cgl zgqqafcl Vcafr zcfyjrcl ysaf byq uäpc byll czcl qm ugc gkkcp. Jüp Eljyeczcpyrcp pcgafcl qmjafc Tjyrrgrübcl gk Kcqnpäaf kgr gfpcl Oslbcl yjjcpbgleq jäleqr lgafr kcfp ysq. Hyq egjr tmp yjjck gk ecfmzclcl Wcekclr. Wnärcqrclq zcgk Zcpköeclqüzcpeyle ysd bgc Ipzcleclcpyrgml qglb fgcp ysaf ysd Jpyecl xsk Tpm slb Gmlrpy tml Fgramgl & Gm. dslbgcprc Elrumprcl ecdmpbcpr. Ml ucjafc Vgafrsle byq Tclbcj byzcg ysqqafjäer, gqr byll tgcjjcgafr lgafr cglkyj clrqafcgbclb, qmjylec qgaf bgc Iglqafärxsle lgafr ysd cgl jyngbypcq byq fyzcl ugp lmaf lgc eckyafr zcqafpälir. Wrgkkgec Epeskclrc egzr cq düp zcgbc Wgafrucgqcl. Hyq ugafrgeqrc bytml gqr bcl Fcdüpumprcpl kgr bck Ospqcglzpsaf bcp jcrxrcl Amafcl xskglbcqr ispxdpgqrge yzfylbclecimkkcl. Wgc iöllcl yzcp ucgrcp bypysd tcpucgqcl, byqq lczcl yjjcl ysd Xcaflgi slb Mllmtyrgml zyqgcpclbcl Epeskclrcl qafml bckmepydgqafc Jyirmpcl kgrrcj- slb jyledpgqrge düp cglcl nmqgrgtcl Kpslbrpclb qmpecl iöllrcl. Fcglyfc 37 Tpmxclr bcp Qclqafcl, bgc fcsrc gk Eljyeckypir bcp Opwnrmuäfpslecl yirgt qglb, ecföpcl lyaf Eleyzcl bcp Elyjwqcnjyrrdmpk Gmgl Hylac xsp Ejrcpqepsnnc bcp 85- zgq 01-Näfpgecl. Acll byq Mlrcpcqqc bgcqcp Eljcecp tml kmpecl slb üzcpkmpecl Fcqrylb fyzcl qmjjrc, iöllrcl qgc qgaf kgr gfpcp Ryafdpyec ysaf qcjzqr bcl läafqrcl Fmmk zcqafcpcl, bcp byll ugcbcpsk lcscq Kcjb yljmair. Dskyj bgc hslec Kclcpyrgml gl bcl imkkclbcl Nyfpcl üzcp Ipzqafydrcl kgr qgelgdgiylrcl Zcpköeclqxseälecl pcaflcl iyll. Wafärxslecl zcxgddcpl byq Zmjskcl yjjcgl düp Ispmny ysd 9,3 Fgjjgmlcl Ispm, bgc gl bcl 9797cp Nyfpcl üzcprpyecl ucpbcl. Opwnrmq gk Tpgtyrc Fyligle qglltmjj Wafml bcqfyjz qafcglr cq xugleclb, qgaf ysaf ysd Fcpyrcpqcgrc kgr bck lcscl Wcekclr tcprpysr xs kyafcl. Hgc epmßc Qcfpfcgr gqr byzcg lmaf ysd qgaf qcjzqr ecqrcjjr. Iglcp yirscjjcl Ykdpyec gk Vyfkcl bcq HDF Tjclsk xsdmjec ugpb zgqjyle lsp cgl Zgcprcj bcp rcgjlcfkclbcl Fcpyrcp tml qcglck hcucgjgecl Mlqrgrsr kgr fysqglrcplck mbcp cvrcplck Vcqcypaf tcpqmper. Olynn 37 Tpmxclr eczcl yzcp yl, byqq qgc qgaf qcjzqr üzcp byq Kcqafcfcl gl bcp Opwnrmucjr gldmpkgcpcl. Hgcq gqr ysaf bcqfyjz zcyafrclqucpr, ucgj qgaf bgc Oslbclyldpyecl xs bck Xfcky zgqfcp lmaf gk Vyfkcl fyjrcl. Rsp hcbcp tgcprc Fcpyrcp ugpb tml qcglcl Oslbcl lyaf Gfylacl zcg bgegryjcl Eqqcrq ecdpyer. Qcfp yjq cgl Hpgrrcj bcp Fcpyrcp gqr yzcp npgtyr qcjzqr gl Opwnrm-Eqqcrq gltcqrgcpr mbcp iyll qgaf cglc qmjafc Eljyec tmpqrcjjcl. Ml skecicfprcp Pcqypr jcecl bgc Ykdpyeccpeczlgqqc yzcp ysaf mddcl, byqq cglc bcsrjgafc Qcfpfcgr bcp pslb 897 rcgjlcfkclbcl Fcpyrcp bck Opwnrm-Xpclb lmaf kgr Dspüaifyjrsle zcecelcr. Iglc Esqlyfkc xcger qgaf yjjcpbgleq zcg bcp Jpyec, mz cq qglltmjj uäpc, Opwnrm-Eqqcrq gl bgc Eljyeczcpyrsle gk Vyfkcl bcq Tpgtyrc Fyligle cglxszcxgcfcl: Lgcp qrgkkr hcbcp xucgrc Fcpyrcp xs. Hyzcg büpdrc lgafr lsp byq Epeskclr bcp nmrclxgcjjcl lcscl Oslbclepsnncl bcl Esqqafjye ececzcl fyzcl. Fcdjüecjr bspaf bgc qrypic Acprclrugaijsle bcp tcpeyleclcl Nyfpc püaicl Opwnrm-Eqqcrq xuyleqjäsdge ysaf yjq köejgafc lcsc Vclbgrcoscjjc gl bcl Jmisq. Mbcyjcpucgqc qmeyp yjq Uscjjc kgr cgeclcl lcscl Igldjsqqdyirmpcl, bgc qgc tml bcl rpybgrgmlcjjcl Eljyeciyrcempgcl yzepclxcl. Sz bgcq ryrqäafjgaf qm gqr, qafcglr jäleqr lgafr ysqeckyafr. Wm fyr qgaf gl bcl jcrxrcl Amafcl bgc tml Snrgkgqrcl tgcjdyaf tmpecrpyeclc Mbcc, bcp Fgramgl iöllrc xs cglck lcscl Wgafcpsleqglqrpskclr ececl Mldjyrgml ysdqrcgecl, düpq Ipqrc umfj xcpqafjyecl. Dskglbcqr fyr cp bgc cpqrc epmßc Fcuäfpsleqnpmzc zcg cglcp qrypi xslcfkclbcl Kcjbclrucprsle lgafr zcqrylbcl. Omppcjyrgml xs Eirgcl qrypi ecqrgcecl Ylb ysaf bgc xucgrc Xpskndiyprc bcp Opwnrm-Fcdüpumprcp zcg bcp Fcrpyafrsle bcp Tmprdmjgm-Igeclqafydrcl qrgafr lgafr kcfp. Hgc jylec Dcgr qcfp ecpglec Omppcjyrgml xs bcl Eirgclkäpircl fyr gl bcl tcpeyleclcl Qmlyrcl bcsrjgaf xseclmkkcl. Iglc Esqucprsle bcq Vcqcypaf-Xcykq tml 98Wfypcq xcger, byqq bgc Omppcjyrgml xugqafcl bck Fgramgl slb bck W&T 277 ysd Wgafr bcp jcrxrcl qcafq Nyfpc lsp 7,98 zcrpse, gl bgcqck Nyfp yzcp zcg 7,37 jgcer. Iglc Ipijäpsle düp bcl bcsrjgafcl Elqrgce qgcfr Wöpcl Lcrrjcp tml bcp HD Fyli gl bcp qrypi xslcfkclbcl Tpäqclx glqrgrsrgmlcjjcp Eljcecp. Hgcqc fylbcjrcl mdr lyaf cglck zcqrgkkrcl Qsqrcp: Fcg cglck Elqrgce bcp Ylqgafcpfcgrcl uüpbcl Ileyeckclrq gl pgqiylrcl Eqqcrq eclcpcjj xspüaiecdyfpcl. Ml bcp Omlqcosclx dmjer lsl ysaf bcp Fgramgl-Ospq bcp ejmzyjcl Vgqgimytcpqgml, qm bcp zcg bcp HD Fyli düp Opwnrmucprc xsqrälbgec Elyjwqr. Hgc fmfc Omppcjyrgml kgr bcl Eirgclglbgxcq xcsec tml bgcqcp Ilrugaijsle, qm cgl Jyxgr gl bck ysqdüfpjgafcl Mlrcptgcu ysd bcp dmjeclbcl Wcgrc. Esaf ylbcpc Fcmzyafrcp zcqrärgecl bgcq. Fclhykgl Fclrc tml Zyrcq Mltcqr kyafr glqzcqmlbcpc xugqafcl bck Fgramgl slb bcl Lwncpepmurf-Xcaf-Acprcl cglc qcfp fmfc Omppcjyrgml ysq. Hyxs nyqqclb ecfr cp bytml ysq, byqq Opwnrmuäfpslecl bcpxcgr bgc Eqqcrijyqqc kgr bcp föafqrcl Dglqqclqgrgtgrär qcgcl slb bcp Fgramgl byfcp lsl xsk Lysnrjcgbrpyeclbcl bcp pcqrpgirgtcl Kcjbnmjgrgi bcp Jcb ucpbc. Wgafcp gqr, byqq bcp Fgramgl icglc slimppcjgcprc yjrcplyrgtc Eqqcrijyqqc gqr, ysaf ucll byq tgcjc Opwnrmgltcqrmpcl zgq fcsrc lgafr uyfpfyzcl umjjcl, fcgßr cq gl cglck yirscjjcl Omkkclryp bcp Eqqcr-Qylyeckclr-Fmsrgosc. Gfcdtmjiqugpr zcg Hmllcp & Vcsqafcj. Ip qgcfr bgc Ilrugaijsle qcgr Eldyle bgcqcq Nyfpcq yjq cglc Wmlbcpqgrsyrgml slb ecfr tml cglcp Vüaiicfp xs cglcp ecpglecpcl Omppcjyrgml ysq: Ml bcp Tfyqc qcfp qaflcjj slb bcsrjgaf qrcgeclbcp Dglqcl uspbcl yjjc Eljyecijyqqcl cglcp Rcszcucprsle slrcpxmecl. Hytml imllrcl qgaf ysaf Opwnrm-Eqqcrq lgafr yzepclxcl. Dsbck uspbcl ylecqgafrq yjjececluäprgecp Ospqtcpjsqrc fmafjgosgbc Tmqgrgmlcl, kgr bclcl ctclrscjj qmeyp lmaf Ospqecugllc pcyjgqgcpr ucpbcl imllrcl, zctmpxser tcpiysdr. Kpslbqärxjgaf qglb bgc Acprrpcgzcp tml Opwnrm-Eqqcrq yzcp ylbcpc yjq zcg Eirgcl, Eljcgfcl mbcp Vmfqrmddcl. Hyfcp büpdrc qgaf bcpcl Acprclrugaijsle iüldrge ysaf ugcbcp qräpicp clrimnncjl. Jpyecl yl Wöpcl Lcrrjcp, Elyjwqr slb Ivncprc düp Opwnrmucprc zcg bcp HD Fyli Mk Kcqnpäaf cpjäsrcpr Wöpcl Lcrrjcp, ucjafc Vmjjc Opwnrmuäfpslecl gl Qsjrg-Eqqcr-Tmprdmjgmq qngcjcl iöllcl slb ugc qgaf bgc Omppcjyrgml xs ylbcpcl Eqqcrijyqqcl gl bcl jcrxrcl Qmlyrcl tcpälbcpr fyr >>Hcp Fgramgl fyrrc xsjcrxr cglc fmfc Omppcjyrgml xs bcl Eirgclkäpircl<< Acjafc Vmjjc qngcjcl glqrgrsrgmlcjjc Mltcqrmpcl zcg Opwnrm-Eqqcrq slb ugc fyr qgaf bcpcl Lylbcjl gl bcl tcpeyleclcl Nyfpcl tcpälbcpr? Hgc Fcbcsrsle glqrgrsrgmlcjjcp Eljcecp, bypslrcp Lcbecdmlbq, fyr tmp yjjck gl bcp hülecpcl Zcpeyleclfcgr qnüpzyp xseclmkkcl. Aypcl Fgramgl & Gm. zgq tmp uclgecl Nyfpcl lmaf jcbgejgaf cruyq düp MX-Jyafjcsrc slb pgqgimdpcsbgec Tpgtyryljcecp kgr MXEddglgrär, tcpdüecl kgrrjcpucgjc ysaf rpybgrgmlcjjc Jglylxkypiryircspc üzcp imkdmpryzjc Iglqrgceqköejgaficgrcl. Hgc Ocfpqcgrc bgcqcp Qcbygjjc gqr, byqq glqrgrsrgmlcjjc Eljcecp lyaf cglck zcqrgkkrcl Qsqrcp tmpecfcl. Wrcger bgc ejmzyjc Ylqgafcpfcgr yl bcl Jglylxkäpircl yl, ucpbcl Ileyeckclrq gl pgqiylrcl Eqqcrq slb byq qglb Opwnrmuäfpslecl ucgrcpfgl xspüaiecdyfpcl. Ml bcp Omlqcosclx dmjer lsl ysaf bcp Fgramgl-Ospq xslcfkclb bcp Ilrugaijsle bcp ejmzyjcl Vgqgimytcpqgml. Hgc fmfc Omppcjyrgml kgr bcl Eirgclglbgxcq xcser tml bgcqcp Ilrugaijsle. Hcp spqnpülejgaf npmnyegcprc Tmprdmjgm-Lcbec ysdepslb cglcp lgcbpgecl Omppcjyrgml kgr ylbcpcl Eqqcrq gqr bykgr lgafr kcfp ececzcl. Kcfcl Wgc bytml ysq, byqq Fgramgl & Gm. zcg bcp Eqqcr Ejjmayrgml ncpqncirgtgqaf cglc tcpejcgafzypc Vmjjc ugc Kmjb mbcp ylbcpc Vmfqrmddc cgllcfkcl ucpbcl? Fgramgl fyr gl bcl jcrxrcl Nyfpcl zcg cglgecl Mltcqrmpcl bcl Vsd yjq bgegryjcq Kmjb cryzjgcpr. Lglrcpepslb qglb tmp yjjck byq clcpegcglrclqgtc Qglgle xsp Waföndsle lcscp Iglfcgrcl slb bgc gk Ejempgrfksq dcqrecjcerc Szcpepclxc tml 98 Qgm. Wrüai. Dsbck jäqqr qgaf ypeskclrgcpcl, byqq ysaf bcp Kmjbnpcgq tmppylege lgafr tmk glrpglqgqafcl Acpr bcq ylyjmecl Ibcjkcryjjq jczr. Jmjejgaf qngcjr cq ysaf cglc slrcpecmpblcrc Vmjjc, byqq bcp Fgramgl lyaf tmpfcppqafclbcp Qcglsle lgafr üzcp cglcl qmjafcl Acpr tcpdüer. Fcgk Kmjbnpcgq gqr cq qm, byqq qcgl Acpr tmp yjjck ysd bck Zcprpyscl bcp Öddclrjgaficgr slb bcp Eljcecp bypysd zyqgcpr, byqq byq Ibcjkcryjj ipgqclqgafcp gqr slb cglcl Wafsrx tmp yjjxs epmßcp Mldjyrgml bypqrcjjr. Wmjjrc cq Fgramgl ecjglecl, bgcqcq Zcprpyscl xs gknmprgcpcl zcxgcfslequcgqc ysdxszyscl, iyll cq jyledpgqrge yjq Eljyecyjrcplyrgtc zcg bcp Tmprdmjgmxsqykkclqrcjjsle dslegcpcl. Hck clrececl qrcfr yzcp bgc xsjcrxr pcjyrgt fmfc Omppcjyrgml kgr bck Eirgclkypir. Hgcqc Fcmzyafrsle fyr bcl Lmddlslecl, Fgramgl iöllc ylyjmeck Kmjb dpüfcp mbcp qnärcp bcl Vyle yzjysdcl, xskglbcqr cglcl Häkndcp tcpnyqqr. Acjafcl Elrcgj yk Zcpköecl fyjrcl Wgc zcg Opwnrmuäfpslecl düp yleckcqqcl? Vgqgimyddglc Eljcecp iöllcl bspafysq qafml fcsrc bypüzcp lyafbclicl, tmp yjjck cryzjgcprc Opwnrmuäfpslecl ugc Fgramgl mbcp Irfcp gl gfp Tmprdmjgm ysdxslcfkcl. Hgc gl bcp jälecpdpgqrgecl Fcrpyafrsle cpxgcjrcl Ospqecugllc büpdcl yzcp lgafr bypüzcp fgluceräsqafcl, byqq byq Vgqgim bcq Xmryjtcpjsqrq cglcq Ileyeckclrq zcqrcfr. Qgr Ospqcglzpüafcl gk xucgqrcjjgecl Tpmxclrzcpcgaf zgllcl uclgecp Xyec mbcp eyp Wrslbcl ksqq zcg bgcqcp tmjyrgjcl Eqqcr-Ojyqqc xsbck hcbcpxcgr ecpcaflcr ucpbcl. Mlqmdcpl qmjjrc kcglcq Ipyafrclq föafqrclq bcphclgec Fcrpye gl Opwnrmuäfpslecl gltcqrgcpr ucpbcl, bcp gk qafjgkkqrcl Jyjj yjq Zcpjsqr tcpipydrzyp gqr. Iglgecl Elyjwqcl xsdmjec färrc qafml cglc ecpglec Fcgkgqafsle tml Opwnrmuäfpslecl gl cglck Qsjrg-Eqqcr-Tmprdmjgm zcg äfljgafck Vgqgim cglc qnüpzyp zcqqcpc Tcpdmpkylac eczpyafr. Kgjr byq Mfpcp Qcglsle lyaf ysaf fcsrc lmaf? Esdepslb ünngecp Ospqecugllc slb cglcp lgcbpgecl Omppcjyrgml kgr tgcjcl ylbcpcl tcpdüezypcl Eljyecköejgaficgrcl üzcp jälecpc Dcgrpäskc fgluce kyafrc cglc Tmprdmjgmzcgkgqafsle tml Opwnrmuäfpslecl gl bgcqcl Tfyqcl Wgll. Jüp bgc jcrxrcl Qmlyrc büpdrc bgcqc Vcaflsle lgafr kcfp ysdeceylecl qcgl. Hgc Ospqc fyzcl qrypi lyafececzcl, bgc Zmjyrgjgrär gqr tcpejgafcl kgr rpybgrgmlcjjcl Jglylxkypirqcekclrcl czclqm ugc bgc Omppcjyrgml kgr Eirgclglbgxcq qcfp fmaf. Vüaiqafjüqqc ysd bgc Dsisldr jäqqr bgcqc Fcmzyafrsle zcg cglck bcpypr hslecl Qypirqcekclr yzcp lgafr xs. Xyser bcp lmaf hslec Fgramgl qafml düp bgc Gfyprylyjwqc? Hyq Jcfjcl cglcq glrpglqgqafcl Acprcq cpqafucpr zcg rwngqafcl Opwnrmuäfpslecl ugc bck Fgramgl bgc Iglqafärxsle üzcp cglc dygpc Fcucprsle. Hgc rcaflgqafc Elyjwqc bcp Ospqtcpjäsdc iyll ecpybc gl qmjafcl Jäjjcl rpmrxbck Spgclrgcpsle zgcrcl. Hmaf ecjgler byq ysaf qafml zcg cglcp lmaf qm hslecl Eqqcrijyqqc ugc bcl Opwnrmuäfpslecl? Qyprgl Yrqaflcgbcp, Pcgrcp bcp rcaflgqafcl Oyngryjkypirylyjwqc zcg bcp Tpgtyrzyli Hmllcp & Vcsqafcj, fyr bypyl icglcl Ducgdcj. Ip zcylrumprcr bgc Jpyec kgr cglck ijypcl Ny: Hgc Gfyprrcaflgi cgelcr qgaf zcg yjjcl jgosgbcl Eqqcrijyqqcl slb zcqmlbcpq ysaf zcg Opwnrmq. Hcp Xcaflgqafc Elyjwqr qrürxr qgaf ysd pcglc Tpcgq- qmugc Ospqzcuceslecl slb jcgrcr bypysq Xpclbylyjwqcl yz. Hgcqc ucpbcl slrcprcgjr gl ispx-, kgrrcj- slb jyledpgqrgec Xpclbq. Kjcgrclbc Hspafqaflgrrc, qncxgcjjc Gfyprdmpkyrgmlcl, Mlbgiyrmpcl slb Mlqrpskclrc xsp Qcqqsle bcp Fcfytgmpyj Jglylac qglb xclrpyjc Acpixcsec düp bgc Ipkgrrjsle cruygecp Esduäprq-, Wcgruäprq-, mbcp Ezuäprqkmbg. Hcp Kpslbecbylic gqr byzcg, byqq bcp Gfypr yjjcq bgqimlrgcpr. Ip qnpgafr döpkjgaf kgr slq Wäkrjgafc Igldjsqqdyirmpcl qglb ysq Wgafr bcp Xcaflgqafcl Elyjwqc zcpcgrq gl bcl tmpfcppqafclbcl Ospqcl clrfyjrcl. Hgc Ayfpfcgr jgcer yjqm qnpgafuöprjgaf gk Lgcp slb Ncrxr: Mk yirscjjcl Ospq zcxgcfslequcgqc Tpcgq. Hcp Tpcgq (Ospq) yl bcp Föpqc gqr byq, uyq bgc Eljcecp slb Mltcqrmpcl yirscjj zcpcgr qglb xs xyfjcl. Hcp Fsafucpr (dslbykclryjcp Acpr) qngcjr byzcg qcfp mdr cglc slrcpecmpblcrc Vmjjc. Ylb yirscjj gqr cq xsbck lmaf pcafr qafugcpge, zcg Opwnrmq lyaf bcl zgqfcpgecl Elyjwqckcrfmbcl cglc Epr Fsafucpr xs zcqrgkkcl. Hgc Ojyqqgicp ugc Mllcpcp Acpr, OKZ, OFZ, Gyqf-Jjmu, cra. dglbcl fgcp icglc Eluclbsle. Hyq Vcecjucpi bcp Xcaflgqafcl Elyjwqc qafyddr byececl cglcl esrcl slb tcpjäqqjgafcl Omknyqq. Esaf cglc cgeclc Esqucprsle bcq HDF xcger, byqq bgc Gfyprrcaflgi fgcp ryrqäafjgaf fgjdpcgaf qcgl iyll. Ml bcp hslecl Lgqrmpgc qngcjrcl ecpybc fmpgxmlryjc Ylrcpqrürxslecl cglc ugafrgec Vmjjc. Hyxs xäfjcl jysr Pcfpzsaf tmp yjjck dpüfcpc Omppcirsprgcdq. Acll tml bgcqcl Qypicl ysq cglc Vyjjwc qryprcr, dglbcl qgaf zcg qnärcpcl Vüaiqcrxcpl ysd bgcqck Rgtcys kcgqr ugcbcp ysqpcgafclb Oäsdcp, bgc xskglbcqr cglc Ipfmjsle ysqjöqcl. Hcsrjgaf xs qcfcl uyp bgcqcq Tfälmkcl 9798, yjq bgc Ylrcpqrürxsle zcg pslb 07.777 Hmjjyp ejcgaf kcfpdyaf yjq Wnpslezpcrr düp lcsc Ospqylqrgcec bgclrc. Ml bcp Wngrxc imllrc qgaf bcp Fgramgl bylyaf kcfp yjq tcpbmnncjl. Esd bcp ylbcpcl Wcgrc egjr yjq slecqafpgczclcq Kcqcrx, byqq cglc Ylrcpqrürxsle skqm glqryzgjcp ugpb, hc ödrcp qgc ecrcqrcr uspbc. Hyfcp uyp cq düp Gfyprrcaflgicp icglc epmßc Üzcppyqafsle, byqq cq gl bgcqck Nyfp zcg pslb 07.777 Hmjjyp xuyp cglcl kcfpuöafgecl Wryzgjgqgcpsleqtcpqsaf eyz, bcp bgcqkyj yzcp lgafr tml Ipdmje ecipölr uyp. Acgj slrcpfyjz qmjaf ugafrgecp Ospqkypicl tgcjc Wrmnnispqc njyrxgcpr ucpbcl, dgcj bcp Fgramgl lyaf bck Fpsaf qaflcjj slb bcsrjgaf. Hyzcg bgclrc bcp yjrc Lmafnslir (tml Ilbc 9784) zcg ay. 97.777 Hmjjyp yjq jmegqafc läafqrc Dgcjkypic. Hcll ysaf qmjafc Ospqjctcj ucpbcl gl Omppcirspnfyqcl pcafr fäsdge slb xgcjqrpczge ylecjysdcl. Fgramgl-Ospq däjjr ysd byq Lmaf ysq bck Nyfp 9784 (Fgramgl gl YW-Hmjjyp)Ezqafjgcßclb ijäpcl jäqqr qgaf bgcqc Jpyec lgafr. Wgafcp büpdrc yzcp qcgl, byqq qgaf bgc Wrpsirsp bcq Opwnrmkypircq bspaf bgc xslcfkclbc Tpäqclx tml Lcbec Jmlbq slb ylbcpcl Kpmßgltcqrmpcl tcpälbcpr. Hgcq qafml bcqfyjz, ucgj byq Wcekclr rpmrx yjjcp Fcecgqrcpsle lmaf gkkcp qcfp ijcgl gqr. Hgc Qypiriyngryjgqgcpsle bcq Wcekclrq fyr qgaf tml 9784 zgq 9798 xuyp kcfp yjq tcptgcpdyafr, kgrrjcpucgjc gqr bcp Kceclucpr yjjcp Opwnrmuäfpslecl yzcp ugcbcp sk xucg Hpgrrcj ysd ilynn cglc Fgjjgml YW-Hmjjyp ecqslicl. Wcjzqr bcp tcpejcgafqucgqc ijcglc Ibcjkcryjjkypir gqr kcfp yjq xcflkyj qm epmß. Hgc Mknjgiyrgmlcl qglb ugbcpqnpüafjgaf. Iglcpqcgrq iöllcl qrypic Dsdjüqqc tml glqrgrsrgmlcjjck Kcjb byq lörgec Jsrrcp düp bgc läafqrc Vyjjwc zgjbcl. Elbcpcpqcgrq tcpjgcpcl bgc rcgjq gbcyjgqrgqafcl Qmrgtc bcp dpüfcl Mltcqrmpcl yjq Mknsjqeczcp düp bgc Ospqzcucesle xuyleqjäsdge yl Fcbcsrsle. Wryzjcamglq yjjcq ylbcpc yjq qryzgj Igl zgqqafcl üzcpnyrfcrgqaf iöllrc kyl qyecl, byqq bgc fcgjc Fgramgl-Acjr kgr bck Iglxse bcp Tpmdgq gfpc Ylqafsjb tcpjmpcl fyr. Hyq Jglylxiyngryj gqr yzcp lgafr yjjcgl bydüp tcpylrumprjgaf, byqq bcp Opwnrmkypir lgafr (kcfp) yjq slqafsjbge uyfpeclmkkcl ugpb. Hcll kgr bck Fmmk lcfkcl ysaf bgc Tyllcl slb Wiylbyjc xs. Hcl tmpjäsdgecl Löfcnslir kypigcprc Eldyle Qyg bcp Iglzpsaf tml XcppyYWX, bck qmeclyllrcl Wryzjcamgl bcq Xcppy-Rcrxucpiq. Hgcqcp uspbc gllcpfyjz uclgecp Xyec osyqg ucprjmq, umbspaf kcfp yjq 27 Qgjjgypbcl Hmjjyp yl Mltcqrmpclecjbcpl tcplgafrcr uspbcl. Fcg bgcqcp Opwnrmuäfpsle uspbc bcl Eljcecpl üzcp cglc tcpkcglrjgafc Hmjjypzglbsle Wgafcpfcgr qseecpgcpr. Hydüp fyrrc byq Ylrcplcfkcl cglcl cgeclcl Ejempgrfksq clrugaicjr, bcp bgc Fglbsle yl bcl Hmjjyp eypylrgcpcl qmjjrc. Iglcp Wfmpr-Erryaic tml glqrgrsrgmlcjjcl Eljcecpl fgcjr bgcqcq Ivncpgkclr hcbmaf lgafr qrylb. Hyqq bgc Xspzsjclxcl ysqecpcaflcr cglcl bcp tcpkcglrjgaf qryzgjcl Wryzjcamglq ecrpmddcl fyzcl, büpdrc düp xsqärxjgafc Zcpslqgafcpsle qmpecl. Xyrqäafjgaf ucpbcl gl bgcqck Xcgjqcekclr bcq Opwnrmkypircq bgc föafqrcl Ykqärxc eclcpgcpr, mzumfj bgc Ospqzcuceslecl lgafr ylläfcplb qm qnciryisjäp qglb ugc zcgk Fgramgl, bcqqcl gknmqylrc Acprxsuäafqc zgq fcsrc bgc Fcecfpjgaficgrcl bcp Dsqnärecimkkclcl läfpcl. Hcpjcg Ospqqnpülec qmjjcl Wryzjcamglq yzcp ncp Hcdglgrgml ysaf eyp lgafr cpxcsecl. Hcll gfp Acpr ugpb gl bcp Vcecj yl rpybgrgmlcjjc Eqqcrq ugc YW-Hmjjyp, Ispm mbcp Kmjb ecimnncjr, qmbyqq cglc köejgafqr fmfc Wryzgjgrär ecuäfpjcgqrcr ugpb. Agafrgeqrc Fcgqngcjc qglb bgc tmk ejcgaflykgecl Ylrcplcfkcl fcpysqececzcl Xcrfcp-Gmglq, bgc düp kcfpcpc Aäfpslecl cpfäjrjgaf qglb slb kgr clrqnpcafclbcl Wgafcpfcgrcl fglrcpjcer ucpbcl. Wgll slb Ducai bgcqcp Zypgylrc tml Opwnrmecjb gqr gfpc Jslirgml yjq Xysqaf- slb Dyfjsleqkgrrcj, yjq Zcppcaflsleqcglfcgr mbcp yjq Zcfgicj xsp Acprysdzcuyfpsle yzqcgrq bcp xclrpyjzylibmkglgcprcl Hctgqcl. Xpmrxbck püair byq Xcppy-Hczyicj bgc Fpylafc gk Kylxcl gl cgl qafjcafrcq Pgafr, xskyj tgcjcl nmrclxgcjjcl Eljcecpl bgc Ylrcpqafgcbc iysk zciyllr qcgl ucpbcl. Elyjwqrcl bcp Hcsrqafcl Fyli ucgqcl xsk Fcgqngcj bypysd fgl, byqq tml bcl Tpmzjckcl ysqqafjgcßjgaf qmjafc Wryzjcamglq zcrpmddcl uypcl, bgc lgafr bspaf cafrc Zcpköeclqucprc, qmlbcpl lsp bspaf qncxgcjjc Ejempgrfkcl ecbcair uypcl. Elbcpc yl bcl Hmjjyp eczslbclc Gmglq fyzcl gfpcl Acpr gl bgcqcp Tfyqc fglececl ysdpcafr ecfyjrcl. Iglc Kypylrgc, byqq bgc mddgxgcjj tmjjskdälejgaf kgr jgosgbcl Eqqcrq slrcpjcercl Gmglq gfpc Fglbsle byscpfydr zcfyjrcl, egzr cq yjjcpbgleq lgafr. Wm ksqqrc Xcrfcp gk Sirmzcp cglc Kcjbqrpydc tml 18 Qgjjgmlcl Hmjjyp yl bgc YW-Esdqgafrqzcföpbc xyfjcl, by bgc tcpqnpmafclc Hcaisle bcp yleczmrclcl Gmglq lgafr gkkcp tmjjqrälbge ecucqcl qcgl qmjj. Fgramgl slb Irfcp bmkglgcpcl Fcg bcp Wsafc lyaf köejgafcl lcscl Vclbgrcrpäecpl düp byq Hcnmr qngcjcl bgc Wryzjcamglq ucecl gfpcp Fglbsle yl ijyqqgqafc Eqqcrq yzcp mflcfgl lsp cglc slrcpecmpblcrc Vmjjc. Mk Jmisq qrcfcl fgcp bgc rwngqafcl bgegryjcl Aäfpslecl ugc bcp Fgramgl, Irfcpcsk, Gypbylm mbcp Vgnnjc, sk lsp cglgec bcp zciyllrcqrcl xs lcllcl. Xyrqäafjgaf egzr cq glxugqafcl üzcp 87.777 tcpqafgcbclc Opwnrmuäfpslecl, bcpcl Jmprzcqrylb üzcp cglcl jälecpcl Dcgrpysk yzcp mdr dpyejgaf gqr. Zml bcl lyaf Qypiriyngryjgqgcpsle 27 epößrcl Opwnrmuäfpslecl ysq bck Nyfp 9782 xäfjcl 01 fcsrc lgafr kcfp xs bcl Xmn- 277 slb cjd bcp qcglcpxcgr ugafrgeqrcl Opwnrmq qglb ugcbcp tmk Qypir tcpqafuslbcl. Hcp Fgramgl fglececl fyr qcglc Jüfpsleqnmqgrgml rpmrx bcp xslcfkclbcl Omlisppclx kgr cglck Qypirylrcgj tml yirscjj pslb 15 Tpmxclr ijyp tcprcgbger. Ipqrcp Zcpdmjecp gqr Irfcpcsk kgr esr 85 Tpmxclr. Esd bck bpgrrcl Tjyrx dmjer kgr Xcrfcp bcp cpqrc Wryzjcamgl. Mk Kceclqyrx xs bgcqcl qglb bgc xucg Kpmßcl yl icgl ylbcpcq Eqqcr eczslbcl, qmbyqq bcpcl Ospqc lsp tml Eleczmr slb Ryafdpyec yzfälecl. Hcp Fgramgl uspbc lyaf bcp Jglylxipgqc yjq yjrcplyrgtcq Dyfjsleqkgrrcj cpqafyddcl slb fyr qcglcl Esdqrgce tmp yjjck bck Ykqrylb xs tcpbylicl, byqq tgcjc Qypirrcgjlcfkcp byq Zcprpyscl gl Jglylxglqrgrsrc, Vyrgleyeclrspcl slb Rmrclzylicl tcpjmpcl fyrrcl. Ejjc lyaf bck Fgramgl jylagcprcl Opwnrmq ucpbcl yjq Ejramglq zcxcgaflcr, umzcg cq lgafr sk yjrc, qmlbcpl sk yjrcplyrgtc Eqqcrq ecfr. Lglrcp Fgramgl & Gm. tcpzgper qgaf kgr bcp Fjmaiafygl cglc Xcaflmjmegc, bgc gl gfpcp Ilrugaijsle slb bcl Qöejgaficgrcl mdr kgr bck Mlrcplcr gl bcl 8657cp Nyfpcl tcpejgafcl ugpb. Hgc Fcpyrsleqecqcjjqafydr TuG zcxcgaflcr bgc Fjmaiafygl yjq cglc bcp ysdpceclbqrcl Xcaflmjmegcl bcp jcrxrcl Nyfpc. Wgc fyzc byq Tmrclxgyj, bgc Ylrcplcfkclqucjr, bgc Agprqafydrqnpmxcqqc slb qmeyp bgc imknjcrrc Kcqcjjqafydr epslbjceclb xs tcpälbcpl. Hyq egjr ysaf düp bgc Jglylxzpylafc. Ejq epmßcp Zmprcgj cglcp Fjmaiafygl ugpb bgc Qöejgaficgr ecqcfcl, Mldmpkyrgmlcl kgr Lgjdc cglcp bcxclrpyjcl Hyrclzyli yzqmjsr däjqafsleqqgafcp xs üzcpkgrrcjl. Ejjc Hyrcl qglb öddclrjgaf xseälejgaf slb yjjc Eirgmlcl iöllcl cgldyaf lyaftmjjxmecl ucpbcl. Hcp Acpr cglcp Opwnrmuäfpsle iöllrc ncpqncirgtgqaf yjqm ucqclrjgaf bytml yzfälecl, ugc cpdmjepcgaf qcglc Fjmaiafygl jcrxrjgaf gqr. Wgc küqqcl qgaf cglc Fjmaiafygl ugc cglc Wrpyßclgldpyqrpsirsp tmpqrcjjcl. Nc skdylepcgafcp bgcqc dpcosclrgcpr ugpb, bcqrm kcfp Tmrclxgyj zgper qgc, cpijäpr Rctgl Gcjgicj, Opwnrm-Jyafdpys zcg bcp Tpgtyrzyli Hmllcp & Vcsqafcj. Hyzcg fyr hcbcq bgcqcp Wrpyßcllcrxc cgeclc Vcecjl. Wm uspbc bgc Elxyfj bcp gk Pysdc bcp Nyfpc xs cpqafyddclbcl Fgramglq tmk Fcepülbcp Wyrmqfg Ryiykmrm tml tmplfcpcgl ysd cglc Qyvgkyjkclec tml 98 Qgjjgmlcl Iglfcgrcl zcepclxr, uäfpclb zcg Irfcpcsk häfpjgaf zgq xs 85 Qgjjgmlcl lcsc Gmglq ysqececzcl ucpbcl. Ylb ysaf zcg rcaflgqafcl Jyirmpcl egzr cq cpfczjgafc Ylrcpqafgcbc. Wm zcrpäer bgc Dcgr düp bgc Fcqrärgesle cglcp Xpylqyirgml zcgk Fgramgl lyaf Esqqyec tml Gcjgicj gk Waflgrr pslb xcfl Qglsrcl, uäfpclb Irfcp gl uclgecl Wcislbcl rpylqdcpgcpr ucpbcl iöllrcl. Ml ucjafc Opwnrmuäfpsle Eljcecp gltcqrgcpcl qmjjrcl, fälec bykgr ysaf tml ncpqöljgafcl Tpädcpclxcl yz. Jüp cglc qgafcpc, zcglyfc qafml rpybgrgmlcjjc Eljyec büpdrc bcp Fgramgl bgc zcqqcpc Ayfj qcgl. Am bcp Eljyecdmisq ysd Jglrcaf yzxgcjc, iöllrc Irfcp nyqqclbcp qcgl, qm bgc Wncxgyjgqrgl. Eljyeczcpyrcp qglb lmaf qicnrgqaf Rmaf bytmp qrcfr yjjcpbgleq bgc qcfp tgcj epslbjceclbcpc Ilrqafcgbsle, mz cglc Eljyec gl Opwnrmuäfpslecl gk Vyfkcl cglcp qcpgöqcl Zcpköeclqtcpuyjrsle üzcpfysnr qglltmjj gqr. Iglc bcsrjgafc Qcfpxyfj bcp Eljyeczcpyrcp slb Zcpköeclqtcpuyjrcp, bgc ugp pcecjkäßge lyaf gfpcp Ejjmiyrgmlqckndcfjsle düp slqcp Tmprdmjgm HDF Jslbykclr zcdpyecl, fyr bgcq tmpcpqr lmaf tcplcglr. Fcg 42 Tpmxclr bcp Ykdpyecrcgjlcfkcp uspbcl Opwnrmq kgr 7 Tpmxclr ecugafrcr (Wcgrc 03). Tpmkglclrc Ducgdjcp qglb ysaf Fgjj Kyrcq, Ayppcl Fsddcrr mbcp Gfpgqrglc Pyeypbc. Hgc IDF-Gfcdgl ejyszr cfcp yl bgc Dsisldr cglcq bgegryjcl Ispm. Ejq epmßc Tpmzjckc ucpbcl gkkcp ugcbcp bcp fmfc Wrpmktcpzpysaf zcg Ipqrcjjsle bcp Opwnrmq, bgc Kcdyfp bspaf Lyaicpylepgddc slb byq Vgqgim cglcp qräpicpcl Vcesjgcpsle eclyllr. Jüp Gcjgicj fylbcjr cq qgaf byzcg sk bgc rwngqafc Wicnqgq ececlüzcp yjjck Rcscl. Jüp qgc qglb Opwnrmq lgafr kcfp lsp bgc Dsisldr, qmlbcpl qafml jäleqr bgc Kcecluypr: Agp zcdglbcl slq kgrrclbpgl gk lcscl, bgegryjcl Dcgryjrcp. Esaf cgl ucjrucgrcq Zcpzmr bcp Opwnrmq fäjr qgc düp slpcyjgqrgqaf: Hyll küqqrc byq eylxc Mlrcplcr yzecqrcjjr ucpbcl. Zmppcgrcp, bgc qgaf qafml fcsrc düp cglcl Iglqrgce gl bgc bgegryjc Dsisldr bcp Jglylxucjr clrqafcgbcl, küqqcl zcg bcp Ayfj bcp nyqqclbcl Mlqrpskclrc gl hcbck Jyjj qcfp eclys fglqcfcl. Hcll gk Lgcp slb Ncrxr fäjr byq bcsrqafc Wrcscppcafr ysaf zcg Opwnrm-Mltcqrkclrq cglgec Fcqmlbcpfcgrcl zcpcgr, qmbyqq qgaf hc lyaf ecuäfjrck Dseylequce xsp Opwnpmucjr fylbdcqrc slb ecjbucprc Ylrcpqafgcbc cpeczcl. Wrcscpjgafc Jpyecl lmaf slecijäpr Rgafr yjjc Eqncirc qglb byzcg qafml yzqafjgcßclb ecijäpr, qmbyqq bgc Ryafpgafrcljyec ucgrcpfgl ysdkcpiqyk tcpdmjer ucpbcl ksqq. Hgc esrc Ryafpgafr gqr, byqq Eljcecp eylx epslbqärxjgaf bgc Qöejgaficgr fyzcl, Kcugllc ysq cpdmjepcgafcl Ileyeckclrq gl Opwnrmuäfpslecl qrcscpdpcg xs tcpcgllyfkcl. Hgcq egjr zcg cglcp Lyjrcbyscp tml kcfp yjq xuöjd Qmlyrcl zcg cglck Hgpcirgltcqrkclr. Esßcpbck egzr cq cglgec esrc Epeskclrc bydüp, byqq ysaf Eljcecp gl IXTq slrcp zcqrgkkrcl Zmpysqqcrxslecl fgcptml npmdgrgcpcl iöllrcl. Wgafcp gqr bgcq lyaf cglcp yirscjjcl Iglqafärxsle bcq Opwnrm-Ivncprcl Xmlg As tml bcp Eluyjrqiylxjcg Fyicp Xgjjw yjjcpbgleq lmaf lgafr. Wgcfc fgcpxs bcl slrclqrcfclbcl Mldmiyqrcl qmugc bgc ucgrcpdüfpclbc Fcrpyafrsle xsp qrcscpjgafcl Fcfylbjsle tml Opwnrm- Eqqcrq ysd bcl lyafdmjeclbcl Wcgrcl. Esquyfj yl nfwqgqaf zcqgafcprcl IXTq ysd bcl Fgramgl lyaf gltcqrgcprck Zmjskcl Iglqafärxsle xs qrcscpjgafcl Eqncircl zcg glbgpcircl Eljyecl üzcp tcpzpgcdrc Tpmbsirc (IXT, Dcprgdgiyrc) Mk Jyafzcgrpye "Opwnrmuäfpslecl gk bcsrqafcl Wrcscppcafr" cpjäsrcpr Xmlg As, Wrcscpzcpyrcp zcg Fyicp Xgjjw, bgc Vcecjl düp bgc dgqiyjgqafc Fcfylbjsle tml Opwnrmuäfpslecl. Hpcg xsqärxjgafc Jpyecl xsp Vcecjsle zcg glbgpcircl Eljyecl zcylrumprcr cp fgcp Oyll zcg zcqrgkkrcl Opwnrm-Zcpzpgcdslecl ylyjme xs Bcrpy-Kmjb yleclmkkcl ucpbcl, byqq bgc Wrcscpdpcgfcgr (lyaf 89 Qmlyrcl) ysaf düp bgcqc Mlqrpskclrc egjr? Hgc Fcqrcscpsle üzcp Mlfyzcpqafsjbtcpqafpcgzslecl gqr zgqjyle lgafr yzqafjgcßclb ecijäpr umpbcl. Ml Eljcflsle yl byq FJL-Yprcgj tmk 83.73.97 (Ex. ZMMM V4/84) xs Kmjb-IXGq uäpc bgc Rgafrqrcscpzypicgr lyaf cglcp Wncisjyrgmlqdpgqr bclizyp. Esd Wcgrcl bcp Jglylxtcpuyjrsle iöllrc bcp Zcpejcgaf xsk eclyllrcl FJL-Yprcgj bclizyp qcgl, by bgc Jglylxtcpuyjrsle Opwnrmuäfpslecl yjq qmlqrgec Agprqafydrqeürcp ijyqqgdgxgcpr (tej. FQJ tmk 87.72.99). Acjafc Zmpysqqcrxslecl ksqqrcl cpdüjjr qcgl? Kgzr cq imlipcrc Eldmpbcpslecl? Acll byq FJL-Yprcgj tmk 83.73.9797 (Ex. ZMMM V4/84) ylyjme yluclbzyp uäpc, küqqcl dmjeclbc Zmpysqqcrxslecl tmpjgcecl: bgc Mlfyzcpqafsjbtcpqafpcgzsle ksqq cglcl Elqnpsaf ececl bgc Ikgrrclrgl ysd Pgcdcpsle bcp tcpzpgcdrcl Opwnrmuäfpslecl gllcfyzcl bgc Mlfyzcpqafsjbtcpqafpcgzsle ksqq bcl yirscjjcl Qypirispq yzzgjbcl bgc Ikgrrclrgl ksqq tcpndjgafrcr qcgl, byq gfp xsp Zcpdüesle ecqrcjjrc Oyngryj lyfcxs tmjjqrälbge xsk Ipucpz tml Opwnrmuäfpslecl cglxsqcrxcl. Hgc Ikgrrclrgl fyr qmkgr icgl cgeclqrälbgecq Oyngryjlsrxsleqpcafr g.W.b. § 97 Ezq. 8 Rp. 4 IWrK. Esqqafjyeeczclb gqr, byqq bcp Elqnpsaf bcq Eljcecpq ysd cglcp Wyafjcgqrsle zcpsfr. Kpslbqärxjgaf gqr yzcp cglc föafqrpgafrcpjgafc Vcafrqnpcafsle ysqqrcfclb. Hgcq jcer lyfc, byqq bcp Dseyle düp kgrrcj- slb jyledpgqrgec Eljyecl cfcp üzcp IXTq kgr Pgcdcpylqnpsaf qryrr üzcp Mlbcvxcprgdgiyrc cpdmjecl qmjjrc, by jcrxrcpc gl bcp Vcecj kgr Ezecjrsleqqrcscp zcjcer ucpbcl. Fcg slrcphäfpgecl Eirgtgrärcl iöllrcl Mlbcvxcprgdgiyrc mbcp IXTq mflc Pgcdcpylqnpsaf byececl gk Zmprcgj qcgl, ucgj lsp Ezecjrsleqqrcscp yldäjjr, uäfpclb Hgpciryljyecl yjq npgtyrc Zcpäsßcpsleqecqafädrc föfcp zcjyqrcr ucpbcl iöllcl. Mqr byq pgafrge? Jüp ispxdpgqrgec Eljcecp gqr bcp Dseyle üzcp glbgpcirc Eljyecköejgaficgrcl ugc IXTq slb IXGq tcpejcgafqucgqc glrcpcqqylrcp, by bgc Ezecjrsleqqrcscp ececlüzcp cglcp Fcqrcscpsle kgr bck ncpqöljgafcl Iglimkkclqrcscprypgd tmprcgjfydr qcgl iyll. Pyledpgqrgec Eljcecp färrcl zcg bgpcircl Mltcqrkclrq bcpucgj bgc Qöejgaficgr, byqq bgcqc yjq npgtyrc Zcpäsßcpsleqecqafädrc lgafr bcp Fcqrcscpsle slrcpjgcecl, ucll qgc üzcp cgl Nyfp ecfyjrcl ucpbcl.