Enviar búsqueda
Cargar
Dossier corridoio tirrenico
•
0 recomendaciones
•
1,407 vistas
D
dumbache
Seguir
Denunciar
Compartir
Denunciar
Compartir
1 de 26
Descargar ahora
Descargar para leer sin conexión
Recomendados
NLDC 2010 Sponsorship Package
NLDC 2010 Sponsorship Package
umchands
SHAYTAAN- HIS WAYS IN MISLEADING BY ABU IYAAD.
SHAYTAAN- HIS WAYS IN MISLEADING BY ABU IYAAD.
Caller To Islam / الداعية الإسلامي
Uncovering the Investment Strategy for Bonds, Equities and Gold in 2014 and B...
Uncovering the Investment Strategy for Bonds, Equities and Gold in 2014 and B...
Investments Network marcus evans
Présentation de Thèse
Présentation de Thèse
Lilia Sfaxi
MOPA BOITE A OUTILS "Accessibilité, tourisme et handicap" : Enclencher une dé...
MOPA BOITE A OUTILS "Accessibilité, tourisme et handicap" : Enclencher une dé...
MONA
Weltkunst_250th_December 2016
Weltkunst_250th_December 2016
Stephanie Manstein
Daftar hasil razia kendaraan bermotor
Daftar hasil razia kendaraan bermotor
Operator Warnet Vast Raha
Megawelle 122014
Megawelle 122014
Megawelle Tenerife
Recomendados
NLDC 2010 Sponsorship Package
NLDC 2010 Sponsorship Package
umchands
SHAYTAAN- HIS WAYS IN MISLEADING BY ABU IYAAD.
SHAYTAAN- HIS WAYS IN MISLEADING BY ABU IYAAD.
Caller To Islam / الداعية الإسلامي
Uncovering the Investment Strategy for Bonds, Equities and Gold in 2014 and B...
Uncovering the Investment Strategy for Bonds, Equities and Gold in 2014 and B...
Investments Network marcus evans
Présentation de Thèse
Présentation de Thèse
Lilia Sfaxi
MOPA BOITE A OUTILS "Accessibilité, tourisme et handicap" : Enclencher une dé...
MOPA BOITE A OUTILS "Accessibilité, tourisme et handicap" : Enclencher une dé...
MONA
Weltkunst_250th_December 2016
Weltkunst_250th_December 2016
Stephanie Manstein
Daftar hasil razia kendaraan bermotor
Daftar hasil razia kendaraan bermotor
Operator Warnet Vast Raha
Megawelle 122014
Megawelle 122014
Megawelle Tenerife
Bpifrance - Bilan Activite 2014
Bpifrance - Bilan Activite 2014
Bpifrance
Doring Sulfonamide N Xps Shift
Doring Sulfonamide N Xps Shift
guesta0095
Die Konstitution der Isan- und Isanolsaure
Die Konstitution der Isan- und Isanolsaure
dinomasch
Année médiatique 2014
Année médiatique 2014
Service d'information du Gouvernement
TPS 10 Mataiwoi
TPS 10 Mataiwoi
KPU KOTA KENDARI
Le bim
Le bim
fabian Bertrandon
La terre
La terre
keipel0168
HUB REPORT Future of Retail : L'innovation au coeur des points de vente
HUB REPORT Future of Retail : L'innovation au coeur des points de vente
HUB INSTITUTE
1ières rencontres franco canadiennes d’intelligence compétitive - 27-10-2011
1ières rencontres franco canadiennes d’intelligence compétitive - 27-10-2011
VedoShare
Les archives ouvertes arabes
Les archives ouvertes arabes
Mohamed Ben Romdhane
Management- und Brancheninformationssysteme
Management- und Brancheninformationssysteme
Christian Reinboth
Synodiance > Google recherche universelle
Synodiance > Google recherche universelle
Search Foresight
L’Importance Du Look
L’Importance Du Look
dinahbeckman
E-Reputation : 10 erreurs à éviter, ou comment réussir son buzzmonitoring
E-Reputation : 10 erreurs à éviter, ou comment réussir son buzzmonitoring
HUB INSTITUTE
Descriptions
Descriptions
advillage
Les horaires d'ouverture, quelle histoire !
Les horaires d'ouverture, quelle histoire !
Dominique Lahary
Je me présente
Je me présente
okram1
Slides ensae 3
Slides ensae 3
Arthur Charpentier
Supportdecoursejb3versioncompletemryoussfi 140317162653-phpapp01
Supportdecoursejb3versioncompletemryoussfi 140317162653-phpapp01
Eric Bourdet
GLOBAL OFFICE FORECAST 2015 2016
GLOBAL OFFICE FORECAST 2015 2016
Todd M. Wheeler
Ghost6x
Ghost6x
guestfcdbb6
Law Questions compliments of Asif tufal law
Law Questions compliments of Asif tufal law
Jubilanté Cutting
Más contenido relacionado
Destacado
Bpifrance - Bilan Activite 2014
Bpifrance - Bilan Activite 2014
Bpifrance
Doring Sulfonamide N Xps Shift
Doring Sulfonamide N Xps Shift
guesta0095
Die Konstitution der Isan- und Isanolsaure
Die Konstitution der Isan- und Isanolsaure
dinomasch
Année médiatique 2014
Année médiatique 2014
Service d'information du Gouvernement
TPS 10 Mataiwoi
TPS 10 Mataiwoi
KPU KOTA KENDARI
Le bim
Le bim
fabian Bertrandon
La terre
La terre
keipel0168
HUB REPORT Future of Retail : L'innovation au coeur des points de vente
HUB REPORT Future of Retail : L'innovation au coeur des points de vente
HUB INSTITUTE
1ières rencontres franco canadiennes d’intelligence compétitive - 27-10-2011
1ières rencontres franco canadiennes d’intelligence compétitive - 27-10-2011
VedoShare
Les archives ouvertes arabes
Les archives ouvertes arabes
Mohamed Ben Romdhane
Management- und Brancheninformationssysteme
Management- und Brancheninformationssysteme
Christian Reinboth
Synodiance > Google recherche universelle
Synodiance > Google recherche universelle
Search Foresight
L’Importance Du Look
L’Importance Du Look
dinahbeckman
E-Reputation : 10 erreurs à éviter, ou comment réussir son buzzmonitoring
E-Reputation : 10 erreurs à éviter, ou comment réussir son buzzmonitoring
HUB INSTITUTE
Descriptions
Descriptions
advillage
Les horaires d'ouverture, quelle histoire !
Les horaires d'ouverture, quelle histoire !
Dominique Lahary
Je me présente
Je me présente
okram1
Slides ensae 3
Slides ensae 3
Arthur Charpentier
Supportdecoursejb3versioncompletemryoussfi 140317162653-phpapp01
Supportdecoursejb3versioncompletemryoussfi 140317162653-phpapp01
Eric Bourdet
Destacado
(19)
Bpifrance - Bilan Activite 2014
Bpifrance - Bilan Activite 2014
Doring Sulfonamide N Xps Shift
Doring Sulfonamide N Xps Shift
Die Konstitution der Isan- und Isanolsaure
Die Konstitution der Isan- und Isanolsaure
Année médiatique 2014
Année médiatique 2014
TPS 10 Mataiwoi
TPS 10 Mataiwoi
Le bim
Le bim
La terre
La terre
HUB REPORT Future of Retail : L'innovation au coeur des points de vente
HUB REPORT Future of Retail : L'innovation au coeur des points de vente
1ières rencontres franco canadiennes d’intelligence compétitive - 27-10-2011
1ières rencontres franco canadiennes d’intelligence compétitive - 27-10-2011
Les archives ouvertes arabes
Les archives ouvertes arabes
Management- und Brancheninformationssysteme
Management- und Brancheninformationssysteme
Synodiance > Google recherche universelle
Synodiance > Google recherche universelle
L’Importance Du Look
L’Importance Du Look
E-Reputation : 10 erreurs à éviter, ou comment réussir son buzzmonitoring
E-Reputation : 10 erreurs à éviter, ou comment réussir son buzzmonitoring
Descriptions
Descriptions
Les horaires d'ouverture, quelle histoire !
Les horaires d'ouverture, quelle histoire !
Je me présente
Je me présente
Slides ensae 3
Slides ensae 3
Supportdecoursejb3versioncompletemryoussfi 140317162653-phpapp01
Supportdecoursejb3versioncompletemryoussfi 140317162653-phpapp01
Similar a Dossier corridoio tirrenico
GLOBAL OFFICE FORECAST 2015 2016
GLOBAL OFFICE FORECAST 2015 2016
Todd M. Wheeler
Ghost6x
Ghost6x
guestfcdbb6
Law Questions compliments of Asif tufal law
Law Questions compliments of Asif tufal law
Jubilanté Cutting
The Book Of Miscellany
The Book Of Miscellany
Caller To Islam / الداعية الإسلامي
En riyad us_saliheen رياض الصالحين
En riyad us_saliheen رياض الصالحين
Loveofpeople
The book-of-miscellany (HADITHS)
The book-of-miscellany (HADITHS)
hello_qwerty123
ESSENCE OF MY RESEARCH ENDEAVOUR BY AUTHOR DEVANSSH MEHTA
ESSENCE OF MY RESEARCH ENDEAVOUR BY AUTHOR DEVANSSH MEHTA
DevansshMehta
9146art9
9146art9
PT Carbon Indonesia
776b_01.pdf
776b_01.pdf
ssuser9e9723
Beniamin Faragau Daniel
Beniamin Faragau Daniel
Lipovan Nicolae Corneliu
La presentacion
La presentacion
disenoparticipativo
49 bailuyenthanh
49 bailuyenthanh
levanlieu2004
Company profile (ITA)
Company profile (ITA)
Comelity.com
Presentation des pathologies les plus recurrentes au SENEGAL.pdf
Presentation des pathologies les plus recurrentes au SENEGAL.pdf
MahougnonRaymondeHOU
Ejercicio final-writer
Ejercicio final-writer
ivanbuenoprofe
100 Ways of Greening your Life - Walk Cheerfully, Step Lightly
100 Ways of Greening your Life - Walk Cheerfully, Step Lightly
P6P
Void and illegality lecture
Void and illegality lecture
FAROUQ
Terms of contract
Terms of contract
FAROUQ
Endocrinologia cto 7
Endocrinologia cto 7
Luis Medina
35 ke toan nguyen vat lieu va cong cu dung cu tai cong ty gang thep thai nguy...
35 ke toan nguyen vat lieu va cong cu dung cu tai cong ty gang thep thai nguy...
tranhien1610
Similar a Dossier corridoio tirrenico
(20)
GLOBAL OFFICE FORECAST 2015 2016
GLOBAL OFFICE FORECAST 2015 2016
Ghost6x
Ghost6x
Law Questions compliments of Asif tufal law
Law Questions compliments of Asif tufal law
The Book Of Miscellany
The Book Of Miscellany
En riyad us_saliheen رياض الصالحين
En riyad us_saliheen رياض الصالحين
The book-of-miscellany (HADITHS)
The book-of-miscellany (HADITHS)
ESSENCE OF MY RESEARCH ENDEAVOUR BY AUTHOR DEVANSSH MEHTA
ESSENCE OF MY RESEARCH ENDEAVOUR BY AUTHOR DEVANSSH MEHTA
9146art9
9146art9
776b_01.pdf
776b_01.pdf
Beniamin Faragau Daniel
Beniamin Faragau Daniel
La presentacion
La presentacion
49 bailuyenthanh
49 bailuyenthanh
Company profile (ITA)
Company profile (ITA)
Presentation des pathologies les plus recurrentes au SENEGAL.pdf
Presentation des pathologies les plus recurrentes au SENEGAL.pdf
Ejercicio final-writer
Ejercicio final-writer
100 Ways of Greening your Life - Walk Cheerfully, Step Lightly
100 Ways of Greening your Life - Walk Cheerfully, Step Lightly
Void and illegality lecture
Void and illegality lecture
Terms of contract
Terms of contract
Endocrinologia cto 7
Endocrinologia cto 7
35 ke toan nguyen vat lieu va cong cu dung cu tai cong ty gang thep thai nguy...
35 ke toan nguyen vat lieu va cong cu dung cu tai cong ty gang thep thai nguy...
Dossier corridoio tirrenico
1.
20,7$723(5/$%(//(==$029,0(172(2/2*,67$
6$0622562$0%,(17$/(0$5(00$12 ,/255,'2,27,55(1,2 ,352%/(0,$3(57,(81$62/8=,21(6267(1,%,/( $FXUDGL 9LWWRULR(PLOLDQLRPLWDWRSHUOD%HOOH]]D 6WHIDQR/HQ]L::) *LDQQL0DWWLROL0RYLPHQWR(FRORJLVWD 9DOHQWLQR3RGHVWj5REHUWR%DURFFL,WDOLD1RVWUD (GRDUGR=DQFKLQL*LRYDQQL*RUL/HJDPELHQWH RQLFRQWULEXWLVSHFLDOLVWLFLGL $QGUHD%RLWDQL$QQD'RQDWL0DUFR3RQWLH0DULD5RVD9LWWDGLQL DJRVWR
2.
,1',(
35(6(17$=,21( SDJ /(6(/7(,1)5$67587785$/,3(5,/255,'2,27,55(1,2125' 81$521,6725,$200(17$7$ SDJ ,/'(67,122081('(/255,'2,2$872675$'$/(7,55(1,2125'(68' SDJ ,/255,'2,27,55(1,21(//$32/,7,$(8523($'(,75$63257, SDJ /($/7(51$7,9($/75$,$72$872675$'$/((*/,())(77,',5(7( SDJ ,/21)5217221/$5(*,21(726$1$(,/3$7723(5/$0$5(00$ SDJ 21(66,21,02/72',687,%,/, SDJ /¶$1$/,6,267,%(1(),,'(//(75(62/8=,21,3523267(3(5,/255,'2,27,55(1,2 SDJ ,75$,$7, SDJ 2
3.
35(6(17$=,21(
DFXUDGHO*UXSSRGLODYRUR 4XHVWR GRVVLHU UDFFRJOLH DOFXQL GHJOL LQWHUYHQWL SL TXDOLILFDWL SURGRWWL GDOOH $VVRFLD]LRQL DPELHQWDOLVWH GDL RPLWDWL ORFDOL GHL FLWWDGLQL GD HVSHUWL H VSHFLDOLVWL LQ RFFDVLRQH GL LQL]LDWLYHHFRQYHJQLSXEEOLFLVXOO¶DQQRVDYLFHQGDGHORUULGRLR7LUUHQLFR1RUGRPHJOLRGHOO¶DVVHDXWRVWUDGDOHHFLQDLYLWDYHFFKLDFRVuFRPHYLHQHLQGLYLGXDWRQHOOD'HOLEHUD,3( Q3ULPR3URJUDPPDGHOOHLQIUDVWUXWWXUHHGHJOLLQVHGLDPHQWLVWUDWHJLFL
4.
/HDQDORJLHFRQLORUULGRLRDXWRVWUDGDOH7LUUHQLFR6XGVRQRHYLGHQWLSHUFKpULWHQLDPRFKHVLDQHOO¶XQRFRPHQHOO¶DOWURFDVRJUDYLVLDQROHUHVSRQVDELOLWjGLFRORURFKHQHOOHLVWLWX]LRQL VWDQQRSHUVHJXHQGROHVFHOWHDXWRVWUDGDOLVHQ]DSUHQGHUHLQVHULDFRQVLGHUD]LRQHO¶DGHJXDPHQWRGHOOHVWUDGHVWDWDOLHVLVWHQWLOD66$XUHOLDHOD663RQWLQDHVHQ]DWHQHUHQHO JLXVWRFRQWROHQRWHYROLULFDGXWHQHJDWLYHGLFDUDWWHUHHFRQRPLFRVRFLDOHHDPELHQWDOHVXOOD0DUHPPDWRVFROD]LDOHHVXOO¶DJURSRQWLQR 4XHVWRGRVVLHUDFFHQWUDODVXDDWWHQ]LRQHVXOODWUDWWDHFLQDLYLWDYHFFKLDULFRUGDQGRFRPHSHUTXHVWDFLVLDXQSURJHWWRGHILQLWLYRGLSRWHQ]LDPHQWRDVXSHUVWUDGDDTXDWWURFRUVLH HODERUDWRGDOO¶$1$6FKHHUDVWDWRVRWWRSRVWRD9DOXWD]LRQHGL,PSDWWR$PELHQWDOHQHOOXJOLR 3URJHWWR PDL ULWLUDWR
GDOOD SURFHGXUD 9,$ PD FKH RJJL VHPEUD HVVHUH DFFDQWRQDWR GDOOR VWHVVR VRJJHWWR SURSRQHQWH LQ XQD VLWXD]LRQH LQ FXL GRSR LO YDUR GHOOD QRUPDWLYD VXOOH LQIUDVWUXWWXUH VWUDWHJLFKH / Q H '/JV Q
5.
OH XQLFKH LGHH
SURJHWWR DQFRUD LQ GLVFXVVLRQH H VLQRUD QRQ GHILQLWH ± VH QRQ SHU JOL HOHYDWLVVLPL FRVWL GL UHDOL]]D]LRQHULVSHWWRDOODUHDOHGRPDQGDGLWUDIILFR±VRQROHLSRWHVLDXWRVWUDGDOLFROOLQDUHLQWHUPHGLDIDWWHSURSULHGDO0LQLVWURGHL7UDVSRUWLHGHOOH,QIUDVWUXWWXUH3LHWUR/XQDUGLH GDOOD6$7HO¶LSRWHVLDXWRVWUDGDOHFRVWLHUDYROXWDGDOOD5HJLRQH7RVFDQDFRQO¶DSSRJJLRGHOOD5HJLRQH/D]LR $GRJJLLOFRQIURQWRWHFQLFRWUD*RYHUQRFHQWUDOHH5HJLRQLQRQKDWURYDWRXQSXQWRG¶LQWHVDHULPDQHLQVROXWRSXULQSUHVHQ]DGLXQDSURSRVWDFDQWLHUDELOHLQEUHYHWHPSRTXDOHLO SURJHWWRGHILQLWLYR$1$6DQFKHLOQRGRGHOODPHVVDLQVLFXUH]]DGLXQDGHOOHVWUDGHSLDULVFKLRSHUO¶LQFLGHQWDOLWjG¶,WDOLD /DFURQRORJLDHJOLLQWHUYHQWLUDFFROWLLQTXHVWRGRVVLHUYRJOLRQRGDUHFRQWRGHOO¶LPSHJQRHGHOOHPRWLYD]LRQLGLFRORUR±DVVRFLD]LRQLVWXGLRVLSROLWLFLHSXEEOLFLDPPLQLVWUDWRULFKH GDDQQLVLVWDQQREDWWHQGRSHUXQ¶$XUHOLDVLFXUD /(6(/7(,1)5$67587785$/,3(5,/255,'2,27,55(1,2125'81$521,6725,$200(17$7$ DFXUDGHO*UXSSRGLODYRUR 7UHQWDDQQLGLGLEDWWLWLVLQRDOODVFHOWDGHOODVROX]LRQH$1$6 RPHqQRWRLOWUDWWRPDQFDQWHGHOSHUFRUVRDXWRVWUDGDOHFKHGD5RPDJLXQJHDOFRQILQHFRQOD)UDQFLDqTXHOORWUDLYLWDYHFFKLDH/LYRUQR3LHVDWWDPHQWHGDLYLWDYHFFKLDD *URVVHWRF¶qVROROD66$XUHOLDDQFRUDLQSDUWH.P
6.
DGXHFRUVLHFRPSOHVVLYHDVVDLSHULFRORVDVRSUDWWXWWRSHUO¶HOHYDWRQXPHURGLDWWUDYHUVDPHQWLDUDVRHODPDQFDQ]DGL EDUULHUDFHQWUDOHGD*URVVHWRILQRDOORVYLQFRORGL5RVLJQDQR0DULWWLPRGRYHULFRPLQFLDO¶DXWRVWUDGD$
7.
HVLVWHLQYHFHODFG³9DULDQWH$XUHOLD´FRQFDUDWWHULVWLFKHVXSHUVWUDGDOL PDXJXDOPHQWHFULWLFDSHUTXDQWRFRQFHUQHODVLFXUH]]DPDQFDQ]DGHOOHFRUVLHGLHPHUJHQ]DHFF
8.
4XHVWR WUDWWR PDQFDQWH
q DO FHQWUR GD DQQL GL XQD GLDWULED FKH YHGH *RYHUQL UHJLRQL SURYLQFH HQWL ORFDOL H DPELHQWDOLVWL LQ DSHUWR FRQWUDVWR $OO¶RULJLQDULR GLVHJQR GL XQ¶DXWRVWUDGDSUHYDOHQWHPHQWHFRVWLHUDFG³SURJHWWR0DFFKL´
9.
VLHUDVXELWRFRQWUDSSRVWDO¶LGHDGLWUDVIRUPDUHO¶$XUHOLDLQVXSHUVWUDGDFRPHGHOUHVWRVLqSRLIDWWRSDU]LDOPHQWH FRQOD³9DULDQWH$XUHOLD´
10.
PLQLPL]]DQGRLQWDOPRGRLOFRQVXPRGLWHUULWRULRHODVSHVD 1HOLOSURJHWWRDXWRVWUDGDOHFRQWUDFFLDWR³LQWHUQR´
11.
SUHVHQWDWRGDOODFRQFHVVLRQDULD6$7HUDRJJHWWRGLSURQXQFLDPHQWRGL9,$QHJDWLYRGDSDUWHGHO0LQLVWURGHOO¶$PELHQWH GL FRQFHUWR FRQ
TXHOOR GHL%HQL $$ /H $VVRFLD]LRQL $PELHQWDOLVWH H O¶,18 7RVFDQD DYHYDQRIRUPXODWRHVDXULHQWL RVVHUYD]LRQL VXO SURJHWWR PHWWHQGRQH LQ OXFH LO JUDYH LPSDWWR VXOO¶DPELHQWH QRQ DGHJXDWDPHQWH UDSSUHVHQWDWR QHO 6,$ ,O WUDFFLDWR HUD PROWR VLPLOH D TXHOOR ³LQWHUQR´ UHFHQWHPHQWH SURSRVWR GDO 0LQLVWUR /XQDUGL FKH IUD O¶DOWUR DYHYD FROODERUDWRDTXHOSURJHWWR 3
12.
,Q VHJXLWR PROWH
SURWHVWH VROOHYDYD O¶LGHD GL WUDVIRUPDUH OD ³9DULDQWH $XUHOLD´ FLRq OD WUDWWD *URVVHWR5RVLJQDQR
13.
LQ DXWRVWUDGD ROWUH
DOOH FRQVHJXHQ]H XUEDQLVWLFKH GHULYDQWL GD XQ¶DUWHULDFKHRUPDLDWWUDYHUVD]RQHXUEDQL]]DWHDPRWLYDUHODSURWHVWDHUDQRODPDQFDQ]DGLYLDELOLWjSDUDOOHODLSHGDJJLHO¶´HIIHWWREDUULHUD´QHLFRQIURQWLGHOOHDWWLYLWjDJULFROH HWXULVWLFKH ,OVHWWHPEUHTXHVWHLQGLFD]LRQLVRQRVWDWHDFFROWHQHOODVRVWDQ]DQHOOD'HOLEHUDGHORQVLJOLR3URYLQFLDOHGL*URVVHWRSHUO¶DGHJXDPHQWRGHOO¶$XUHOLDGD*URVVHWRDOFRQILQH FRQ LO /D]LR FRQ O¶LQGLFD]LRQH SXQWXDOH GHJOL VYLQFROL GD UHDOL]]DUH DO SRVWR GHOOH LPPLVVLRQL D UDVR GHL WUDWWL GD SRUWDUH D TXDWWUR FRUVLH H SHUVLQR GHOOH LQGLFD]LRQL SURJHWWXDOL H PRUIRORJLFKH SHU LO PLJOLRU LQVHULPHQWR QHO SDHVDJJLR 'HOLEHUD]LRQH PDL UHYRFDWD 6XOOD EDVH GL WDOH 'HOLEHUD QHO JHQQDLR YLHQH UHGDWWR GDOO¶$1$6 LO SURJHWWR GHILQLWLYR ILQDQ]LDWRGD5HJLRQH7RVFDQDH3URYLQFLDGL*URVVHWRSHUO¶DGHJXDPHQWRLQVHGHGHOWUDWWRDGXHFRUVLHQHOFRPXQHGLDSDOELRDQFKHTXHVWRSURJHWWRQRQqPDLVWDWRULWLUDWR $QDORJKHYDOXWD]LRQL±IRUWHPHQWHPRWLYDWHGDOODJUDQGHYDOHQ]DVWRULFRDPELHQWDOHGHLVLWLHGDOIDWWRFKHLQTXHVWRFDVRQRQqJLjHVLVWHQWHXQWUDFFLDWRVXSHUVWUDGDOH±IXURQR SRL VROOHYDWH FRQWUR LO SURJHWWR GL XQD YDULDQWH GHOO¶$XUHOLD HVWHVD .P RQFHSLWD TXDOH DWWXD]LRQH GHO SURWRFROOR G¶LQWHVD VRWWRVFULWWR IUD JOL HQWL LQWHUHVVDWL LO HVVD GRYUHEEHHVWHQGHUVLIUD)RQWHEODQGD2UEHWHOOR
14.
H1XQ]LDWHOODDSDOELR
15.
RPXQTXHSURSULRDVHJXLWRGHO3URWRFROORG¶LQWHVDVRWWRVFULWWRIUDJOLHQWLLQWHUHVVDWLLOLO³JUXSSRWHFQLFR´LVWLWXLWRDGKRFHFRVWLWXLWRGD0LQLVWHURGHL/DYRUL3XEEOLFL 5HJLRQH7RVFDQD5HJLRQH/D]LR3URYLQFHGL*URVVHWRH9LWHUER
16.
LODSSURYDYDXQYHUEDOHIDYRUHYROHDOSURJHWWRSUHOLPLQDUHGHOO¶$1$6FLRqLOSRWHQ]LDPHQWRLQVHGHFRQ OLPLWDWH YDULDQWL QHL
SXQWL FULWLFL
17.
GHOOD 66 $XUHOLD
,O ULFRUVR DO SURMHFW ILQDQFLQJ YLHQH LQGLFDWR QHO YHUEDOH GL DFFRUGR VX ULFKLHVWD GHOO¶DVVHVVRUH 5LFFDUGR RQWL GHOOD 5HJLRQH 7RVFDQDFRPHSRVVLELOLWjVXERUGLQDWDQHOFDVRGLPDQFDWLILQDQ]LDPHQWLVWDWDOL (¶PROWRVLJQLILFDWLYRLOIDWWRFKHORVWHVVRSUHVLGHQWHGHOOD6$7±DQFK¶HVVDSUHVHQWHQHOJUXSSRWHFQLFR±DEELDULFRQRVFLXWRDOORUDFKHDVHJXLWRGHOOHRSHUHDJJLXQWLYHULFKLHVWH GDOOD UHJLRQH H GL DQDOLVL SL UHDOLVWLFKH GHL WUDIILFL VWLPDWL LQ YHLFROL PHGLJLRUQR SDJDQWL
18.
L FRVWL GHOOD
VROX]LRQH DXWRVWUDGDOH VDUHEEHUR WDOL FKH O¶HTXLOLEULR ILQDQ]LDULR VDUHEEHSRVVLELOH³«6RORLQSUHVHQ]DGLXQPDVVLFFLRFRQWULEXWRSXEEOLFR«
19.
7DOHFLUFRVWDQ]DSRUWDDVXSHUDUHGLROWUHSXQWLSHUFHQWXDOLLOWHWWRGHOGHOO¶LPSRUWRWRWDOHGHL ODYRUL«´LOWHWWRLQTXHVWLRQHHUDTXHOORGHOFRQWULEXWRPDVVLPRGHOOR6WDWRILVVDWRLQWDOHPLVXUDGDOO¶DUWGHOOD³OHJJH0HUORQL´O
20.
'L FRQVHJXHQ]D LO
JUXSSR GL ODYRUR FRQ LO FLWDWR YHUEDOH DFFRJOLHYD LO SURJHWWR GHOO¶$1$6 FKH FRQFHUQH LQ SULPD IDVH O¶DGHJXDPHQWR LQ VHGH D SDUWH XQD YDULDQWH GL .P WUD 2UEHWHOORH)RQWHEODQGDLQDGHUHQ]DDOODIHUURYLD
21.
GHOO¶$XUHOLDWUDLYLWDYHFFKLDH*URVVHWRVXGDOODWLSRORJLD,,DGHO15FRUVLHFRPSOHVVLYHFRUVLHGLHPHUJHQ]D
22.
VYLQFROL VXXQ¶HVWHVDGL.PDVVLFXUHUHEEHURXQ¶DGHJXDWD³SHUPHDELOLWj´GHOO¶RSHUDDLWUDIILFLWXULVWLFLHORFDOLROWUHQDWXUDOPHQWHDOODILWWDUHWHGLYLDELOLWjORFDOHGDULVWUXWWXUDUH ,QVHFRQGDIDVHqSUHYLVWRO¶DGHJXDPHQWRDOWLSR,,D15GHOODJLjHVLVWHQWH9DULDQWH$XUHOLDWUD*URVVHWRH5RVLJQDQRDWWXDOPHQWHGHOWLSR,,,
23.
PD±FRVDPROWRUDJLRQHYROH± VRORQHLWUDWWLHVHQWLGDLPSRUWDQWLRSHUHG¶DUWHHYLWDQGRQHFRVuODFRVWRVDULVWUXWWXUD]LRQH /¶LPSRUWRWRWDOHGHOOHRSHUHqYDOXWDELOHDWWRUQRDLPLOLDUGLGLYHFFKLHOLUHSDULDROWUHPLOLRQLGLHXUR
24.
FRPSUHVHOHFRQQHVVLRQLFRQLSRUWLYDOHDGLUHPHQRGLXQWHU]R GHOOH FLIUH FKH
YHQJRQR DFFUHGLWDWH GDO *RYHUQR ULJXDUGR DO ³SUHYHQWLYR´ DXWRVWUDGDOH PD VL HUD JLj GHWWR FKH OD UHDOL]]D]LRQH GHOO¶DXWRVWUDGD QRQ VDUHEEH XQ¶DOWHUQDWLYD DO ULIDFLPHQWRGHOO¶$XUHOLD LPSRVWR SHUORPHQR QHO WUDWWRLYLWDYHFFKLD*URVVHWR GDJUDYLVVLPH UDJLRQL GL VLFXUH]]D LO ELODQFLR FRPSOHVVLYR GHOOHGXHRSHUD]LRQL SDUDOOHOH GLYHUUHEEH TXLQGLDVWURQRPLFR
25.
,OSURJHWWRGHILQLWLYRGHOODWUDWWDLYLWDYHFFKLD*URVVHWRqVWDWRSUHVHQWDWRGDOO¶$1$6LO1HOOXJOLRGHOORVWHVVRDQQRqLQL]LDWDODSURFHGXUDGL9,$PDDTXHVWRSXQWRLO PHFFDQLVPRVLqLQFHSSDWR 5LVXOWDLQIDWWLFKHO¶$1$6EHQFKpULSHWXWDPHQWHVROOHFLWDWDQHOQRYHPEUHHQHOIHEEUDLRGDO6HUYL]LR9,$GHO0LQLVWHURGHOO¶$PELHQWHQRQDEELDGDWRDOO¶HSRFDULVSRVWD DOOD ULFKLHVWD GL
SUHVHQWDUH DOFXQH LQWHJUD]LRQL DO SURJHWWR SHUDOWUR OLPLWDWH DO VROR WUDWWR GL 2UEHWHOOR
26.
'L FRQVHJXHQ]D O¶LWHU
GHOOD 9DOXWD]LRQH VL q LQWHUURWWR LQ PRGR GHO WXWWR LQJLXVWLILFDWRVLDGDOSXQWRGLYLVWDWHFQLFRFKHGDTXHOORSROLWLFR RQ O¶LQVHGLDPHQWR GHO JRYHUQR %HUOXVFRQL 0LQLVWUR /XQDUGL
27.
QHO PDJJLR
q VWDWD EORFFDWD XQ¶RSHUD QHFHVVDULD HFRQRPLFD H XUJHQWH VL SHQVL DOOD IDPLJHUDWD LQFLGHQWDOLWj GHOO¶DWWXDOH $XUHOLD GRSSLD ULVSHWWR DOOD PHGLD QD]LRQDOH QHO WUDWWR LYLWDYHFFKLD*URVVHWR
28.
QRQRVWDQWH VLD LPPHGLDWDPHQWH
DWWLYDELOH XQ SULPR ILQDQ]LDPHQWR GL PLOLDUGL GL YHFFKLHOLUHSHULQWHUYHQLUHQHLSXQWLSLSHULFRORVL ,QIDWWLQHOGLFHPEUHGHOFRPHXOWLPRDWWRGHO*RYHUQR$PDWRYLHQHDSSURYDWDOD/HJJH)LQDQ]LDULDFRQODTXDOHYHQJRQRVWDQ]LDWLPLOLDUGLGLYHFFKLHOLUHSHUOD PHVVD LQ VLFXUH]]D GHOO¶$XUHOLD QHL NP D GXH FRUVLH QHL FRPXQL GL DSDOELR H 7DUTXLQLD /R VWDQ]LDPHQWR VFRPSDULUj SRL GDOOD GLVSRQLELOLWj GHOO¶$1$6 VHQ]D FKH OD 5HJLRQH 7RVFDQDDEELDPDLULYHQGLFDWRO¶DSHUWXUDGHLFDQWLHULVXOODEDVHGLTXHVWRVWDQ]LDPHQWR 4
29.
6L WUDWWD QDWXUDOPHQWH
GHOOD VHPSUH PDQFDWD YRORQWj SROLWLFD FKH SHU DQQL KD LPSHGLWR GL FRPSOHWDUH O¶DPPRGHUQDPHQWR GHOO¶$XUHOLD DJJUDYDWD GDO IDWWR FKH FRQ O¶DWWXDOH JRYHUQRLOVLVWHPDGHJOLDSSDOWLqHQWUDWRVFRSHUWDPHQWHQHOOHVWDQ]HGHLERWWRQL RQ/XQDUGLGLQXRYRLQFDPSRLO³3DUWLWRGHOOHDXWRVWUDGH´ RQ OD /HJJH 2ELHWWLYR DSSURYDWD LO GLFHPEUH O Q
30.
H OD FRQWHVWXDOH
DSSURYD]LRQH GHO 3ULPR 3URJUDPPD GHOOH LQIUDVWUXWWXUH VWUDWHJLFKH 'HOLEHUD ,3( Q
31.
YLHQHULODQFLDWRGDO*RYHUQRHGDO0LQLVWURGHL7UDVSRUWLOH,QIUDVWUXWWXUH3LHWUR/XQDUGLO¶DVVHDXWRVWUDGDOHGDHFLQDDLYLWDYHFFKLDHLOSURJHWWRGHILQLWLYR$1$6YLHQH DFFDQWRQDWR /DQXRYDQRUPDWLYDFXLVLDJJLXQJRQRSRFKLPHVLGRSRODOQFROOHJDWRLQIUDVWUXWWXUHDOOD/HJJH)LQDQ]LDULDHLO'/JVQGHFUHWRDWWXDWLYRGHOOD/HJJH 2ELHWWLYR
32.
SUHYHGHXQDFRUVLDSUHIHUHQ]LDOHDFFHOHUDWDHVHPSOLILFDWDSHUOHJUDQGLRSHUHGHOQXRYR*RYHUQRFKHVLVRVWDQ]LDLQHVWUHPDVLQWHVLQHOODLQGLYLGXD]LRQHLQFRQWHVWDELOH GHOODWLSRORJLDHGHOODORFDOL]]D]LRQHGHOO¶LQIUDVWUXWWXUDVWUDWHJLFDQHOODSURFHGXUD9,$FRQGRWWDVXOSURJHWWRSUHOLPLQDUHFKHVLFRQFOXGHFRQXQJLXGL]LRGLFRPSDWLELOLWjDPELHQWDOH HVSUHVVRGDORPLWDWR,QWHUPLQLVWHULDOHSHUOD3URJUDPPD]LRQH(FRQRPLFDDPDJJLRUDQ]DLQXQDVHULHGLPRGLILFKHDOODQRUPDWLYDVXLODYRULSXEEOLFLFKHYDQQRDULYROX]LRQDUHLQ SDUWLFRODUH LO VLVWHPD
GHLVXEDSSDOWL QHO UDIIRU]DPHQWR GHOOD ILJXUDGHO FRQFHVVLRQDULR DXWRVWUDGDOHH QHOOD FUHD]LRQHGHOOD QXRYDILJXUD GHO RQWUDHQWH *HQHUDOH FRQ PLVXUH FKH WHQGRQRDFLUFRVFULYHUHLOULVFKLRGLLPSUHVDGHLSULYDWL 1RQqXQFDVRFKHGRSRO¶LQVHULPHQWRGHOO¶DVVHDXWRVWUDGDOHHFLQDLYLWDYHFFKLDQHOOD'HOLEHUD,3(QLOVHFRQGRSDVVRGHO*RYHUQRLQPHULWRDTXHVWDLQIUDVWUXWWXUDVLD VWDWRLOWHQWDWLYRGLLQVHULPHQWRQHO''/VXOOHLQIUDVWUXWWXUHFROOHJDWRDOOD/HJJH)LQDQ]LDULD
33.
GLXQDQRUPDDGKRFDUWF
34.
SHUDEURJDUHODOHJJHFKHDYHYD VRVSHVRODFRQFHVVLRQHDOOD6$7QHOWHQWDWLYRGLDIILGDUHO¶RSHUDVHQ]DJDUD
35.
7HQWDWLYRIDOOLWRQHOPDFKHIXULQQRYDWRHFRURQDWRGDOVXFFHVVRFRPHYHGUHPRFRQOD/HJJH )LQDQ]LDULD $OO¶LQL]LRGHOVLFRPLQFLDDGLVFXWHUHGHOOD³GXSOLFH´SURSRVWDDYDQ]DWDGDO0LQLVWURGHL7UDVSRUWLHGHOOH,QIUDVWUXWWXUH/XQDUGLSHUXQQXRYRWUDFFLDWRDXWRVWUDGDOHULFDYDWR GDOODWRWDOHWUDVIRUPD]LRQHGHOO¶$XUHOLDLQWHJUDWDGDXQDYDULDQWHGL.PLQFRPXQHGL2UEHWHOOR
36.
RYYHURLQDOWHUQDWLYDSHUXQWUDFFLDWRLQWHUQRGHYDVWDQWHFKHDWWUDYHUVHUHEEH DUHH FROOLQDUL GL
DOWR SUHJLRSDHVDJJLVWLFR DPELHQWDOH HG DJULFROR PLOLRQL GL HXURSHU LO HURJDWL GDOOR 6WDWR
37.
VDUHEEHUR QHFHVVDUL SHU
UHDOL]]DUH TXHVWR LQWHUYHQWR GHILQLWR³GHFLVDPHQWHIROOH´GDOSUHVLGHQWHGHOODFRPPLVVLRQH)LQDQ]HGHOODDPHUD $OO¶LQL]LRGHOOD5HJLRQH7RVFDQDDQQXQFLDLOULFRUVRDOODRUWHRVWLWX]LRQDOHSRLSUHVHQWDWRLOIHEEUDLR ,O DSULOH D 0DQFLDQR YLHQH SURPRVVD XQD PDUFLD FRQWUR O¶LSRWHVL GL $XWRVWUDGD FROOLQDUH R LQWHUQD
38.
SURSRVWD GDO 0LQLVWUR
GHOOH ,QIUDVWUXWWXUH H GHL 7UDVSRUWL /XQDUGL SURPRVVDWUDJOLDOWULGDDOFXQLRPXQLGDL9HUGLHGHOOD5HJLRQH7RVFDQDFXLDGHULVFRQROHDVVRFLD]LRQLDPELHQWDOLVWHHLFRPLWDWLORFDOL 1HOOXJOLRGHOYLHQHSUHVHQWDWRGDOOD6$7XQSURJHWWRGL$XWRVWUDGDFRVWLHUDFKHYHGHO¶DSSRJJLRGDSDUWHGHOOD5HJLRQH7RVFDQDHGHOOD3URYLQFLDGL*URVVHWR$FFHWWDQGROD ORJLFD GHOO¶LQWHUYHQWR DXWRVWUDGDOH DG DOWR LPSDWWR OD 5HJLRQH 7RVFDQD H OD 3URYLQFLD GL *URVVHWR DYDOODQR OH VFHOWH GL IRQGR GHO *RYHUQR D FXL OH DVVRFLD]LRQL DPELHQWDOLVWH H L FRPLWDWLORFDOLVLRSSRQJRQR 1HOO¶RWWREUH YLHQH RUJDQL]]DWD OD ³FRQYHQWLRQ´ GHOOD 5HJLRQH 7RVFDQD DG $OEHUHVH *URVVHWR
39.
SHU OD SUHVHQWD]LRQH
XIILFLDOH GHOOD SURSRVWD GL DXWRVWUDGD FRVWLHUD ³DPELHQWDOL]]DWD´ NPGDOFRQILQH GHO /D]LR D *URVVHWR WXWWL LQ YDULDQWH ULVSHWWR DOO¶$XUHOLD LQ SDUWH DIILDQFDWD DO WUDFFLDWR GHOOD VWDWDOH YDULDQWH GL NPGD $QVHGRQLD VXGD )RQWHEODQGD YDULDQWH SRL SUROXQJDWD YHUVR VXG ILQR D DSDOELR 6FDOR QHO PDU]R O¶DWWXDOH WUDFFLDWR GHOO¶$XUHOLD GD ULGXUUH D GXH FRUVLH ODGGRYH q D TXDWWUR FRPH ³VWUDGD SDUFR´GHPROL]LRQHGHOQXRYRVYLQFRORGLDSDOELRLQDXJXUDWRQHOOXJOLR ,OJHQQDLRJOLDPELHQWDOLVWLHLFRPLWDWLORFDOLGHLFLWWDGLQLSURPXRYRQRLOFRQYHJQRQD]LRQDOHGL2UEHWHOOR³3HUOD0DUHPPDXQDVRODVWUDGDO¶$XUHOLDVLFXUD´ULEDGHQGROD ORURFKLDUDRS]LRQHLQIDYRUHGHOSURJHWWRGHILQLWLYRHODERUDWRGDOO¶$1$6HODQFLDQRLO3DWWRGHOOD0DUHPPD 1HOO¶DSULOHqIRUPDOL]]DWRO¶$FFRUGRIUD6WDWRH5HJLRQH7RVFDQDSHUOHLQIUDVWUXWWXUHFKHFRPSOHWDHLQWHJUDTXDQWRSUHYLVWRGDOOD'HOLEHUDQ 1HOJLXJQRYLHQHGDWDSXEEOLFLWjDOO¶DFFRUGRIUD5HJLRQH7RVFDQDH5HJLRQH/D]LRSHUXQ¶DXWRVWUDGDFRVWLHUD ,O JLXJQR OH DVVRFLD]LRQL DPELHQWDOLVWH H L FRPLWDWL ORFDOL RUJDQL]]DQR D DSDOELR XQD PDQLIHVWD]LRQH SHU³8Q¶$XUHOLD VLFXUDVXELWR´ DFXL DGHULVFRQR DQFKH OH DVVRFLD]LRQL GHJOL DJULFROWRUL L RPXQL GL DSDOELR 0DQFLDQR 0RQWH $UJHQWDULR 6RUDQR 6FDQVDQR 0RQWDOWR GL DVWUR 7DUTXLQLD DQLQR HOOHUH ,VFKLD GL DVWUR 7XVFDQLD H OD 3URYLQFLD GL *URVVHWR/¶$XUHOLDYLHQHSHUFRUVDSHURUHGDWUDWWRULDXWRPRWRELFLFOHWWHHFDYDOOL3DUWHFLSDQRDQFKHSDUODPHQWDULSROLWLFLHUDSSUHVHQWDQWLGHOOHLVWLWX]LRQLORFDOL 5
40.
'DOOXJOLRDOVHWWHPEUHVLVYROJHLOFRQIURQWRWHFQLFRWUDJOLDPELHQWDOLVWLHLWHFQLFLGHOOD5HJLRQH7RVFDQDGHOOD3URYLQFLDGL*URVVHWRHGLTXHOODGL/LYRUQRFKHVLFRQFOXGHFRQ ODOHWWHUDGHOO¶RWWREUHGHOORVWHVVRDQQRLQFXLVLFRQVWDWDODILQHGHOFRQIURQWRHQHOFRQWHPSRVLGLFKLDUDLOIDOOLPHQWRGHO3DWWRGHOOD0DUHPPD RQ OD 6HQWHQ]D
Q OD RUWH RVWLWX]LRQDOH VWDELOLVFH LQ HVWUHPD VLQWHVL FKH ,O *RYHUQR QRQ SRVVD SURFHGHUH DOOD ORFDOL]]D]LRQH GHOOH LQIUDVWUXWWXUH VWUDWHJLFKH VHQ]D O¶LQWHVD FRQ OH 5HJLRQL R LQYDGHQGR LO FDPSR GHL SRWHUL UHJLRQDOL FRQFRUUHQWL VXO JRYHUQR GHO WHUULWRULR HG HVFOXVLYL VX HGLOL]LD HG XUEDQLVWLFD QHO ULVSHWWR GHO QXRYR 7LWROR 9 GHOOD RVWLWX]LRQH 1HOO¶RWWREUHVLFKLXGHFRQXQQXOODGLIDWWRLOWDYRORWHFQLFR5HJLRQH7RVFDQD5HJLRQH/D]LR±0LQLVWHURGHL7UDVSRUWLHGHOOH,QIUDVWUXWWXUH±$1$6FKHGRYHYDSURGXUUHXQD VROX]LRQHSURJHWWXDOHGLFRPSURPHVVRWUDLO*RYHUQRFHQWUDOHHOHHVLJHQ]HGHOOHDXWRQRPLHORFDOL ,O RWWREUH L JUXSSL SDUODPHQWDUL GHO 6HQDWRFKH VL ULFRQRVFRQR QHOO¶8OLYR SURPXRYRQR D 5RPD LO RQYHJQR ³3HU OD 6LFXUH]]DGHOO¶$XUHOLD LQ DOWHUQDWLYD DOO¶$XWRVWUDGD GHOOD 0DUHPPD´ 1HO GLFHPEUH GHO DO ILQH LO *RYHUQR ULFKLHGH H RWWLHQH OD FDQFHOOD]LRQH GHOOD VRVSHQVLRQH GHOOD FRQFHVVLRQH D 6$7 SHU OD UHDOL]]D]LRQH GHOOD QXRYD WUDWWD DXWRVWUDGDOH LQWURGXFHQGRQHOO¶DUWGHOOD/HJJH)LQDQ]LDULDLOFRPPD /DRQFHVVLRQHDOOD6$7QRQULVROYHDVVROXWDPHQWHLSUREOHPLILQDQ]LDULGHOO¶RSHUDHULVFKLDGLHVVHUHLQFRQWUDVWRFRQODQRUPDWLYDHXURSHDVXJOLDSSDOWL,QIDWWLO¶(XURSDSUHYHGH FRPHKDQQRULEDGLWRLVHQDWRULGHOO¶RSSRVL]LRQH%DVVDQLQL3DROR%UXWWL'RQDWL0RQWLQRH=DQGDLQXQDORURLQWHUURJD]LRQHSUHVHQWDWDO¶IHEEUDLR
41.
GLVRWWRSRUUHRJQLQXRYR LQYHVWLPHQWRDJDUDGLHYLGHQ]DSXEEOLFDSHUODVFHOWDGHOVRJJHWWRFRQFHVVLRQDULRFKHUHDOL]]DHJHVWLVFHO¶RSHUD ,OPDU]RD)LUHQ]HYLHQHSURPRVVDGDOOHDVVRFLD]LRQLDPELHQWDOLVWHHGDLFRPLWDWLORFDOLGHLFLWWDGLQLXQDWDYRODURWRQGDFRQLSDUODPHQWDULGHOO¶8OLYRLQFXLYLHQHULYROWRXQ DSSHOOR DOOD 5HJLRQH
7RVFDQD SHUFKp DEEDQGRQL OD VFHOWD DXWRVWUDGDOH H ULODQFL LO SURJHWWR GL SRWHQ]LDPHQWR GHOO¶$XUHOLD H QRQ DYDOOL OH SROLWLFKH JRYHUQDWLYH LQ FRQWUDVWR FRQ O¶(XURSD ,O PDJJLR QHOOD 6DOD GHOOD 3URWRPRWHFD LQ DPSLGRJOLR VL VYROJH LO FRQYHJQR QD]LRQDOH SURPRVVR GDOOH $VVRFLD]LRQL DPELHQWDOLVWH H GDL FRPLWDWL GHL FLWWDGLQL LQWHUHVVDWL DL SURJHWWLDXWRVWUDGDOLGDOWLWROR³RUULGRLRWLUUHQLFROHDXWRVWUDGHGDGLPHQWLFDUH´ ,O JLXJQR GHO LO 3DUODPHQWR HXURSHR DSSURYD GHILQLWLYDPHQWH OD QXRYD OLVWD GHOOH 7(1W UHWL GL WUDVSRUWR WUDQVHXURSHH
42.
HODERUDWH GDO JUXSSR
GL ODYRUR GL ³DOWR OLYHOOR´ FRRUGLQDWR GDOO¶H[ FRPPLVVDULR 9DQ 0LHUW VX LQFDULFR GHOOD RPPLVVDULD HXURSHD DL 7UDVSRUWL /RROD 'H 3DODFLR LQ FXL YHQJRQR LQGLYLGXDWL VX VFDOD FRQWLQHQWDOH XQD WUHQWLQD GL SURJHWWLSULRULWDULFXLGHVWLQDUHVLQRDODOO¶LQFLUFDPLOLDUGLGLHXUR7UDTXHVWLQRQF¶H¶LORUULGRLRWLUUHQLFRSOXULPRGDOH ,/'(67,122081('(/255,'2,2$872675$'$/(7,55(1,2125'(68' GL9LWWRULR(PLOLDQL /¶HEUH]]DDXWRVWUDGDOH /DYLFHQGDDQFKHTXHOODSLYLFLQDGHOFRVLGGHWWRRUULGRLRDXWRVWUDGDOHWLUUHQLFRQRUGHVXGDSSDUHLPSUHJQDWDGLXQDFXOWXUDGHOOHLQIUDVWUXWWXUHFKHULPRQWDDGXQTXDUDQWHQQLR H SL DGGLHWUR D TXDQGR LQ ,WDOLD DQFKH VRWWR OD VSLQWD GHOOD SRWHQWLVVLPD OREE DXWRPRELOLVWLFD VL ULVHUYDYDQR L ILQDQ]LDPHQWL SXEEOLFL DOOH VROH DXWRVWUDGH PHQWUH YHQLYDQR OHVLQDWL LQPRGRLQGHFHQWHDOODVWHVVDYLDELOLWjRUGLQDULDPDDQFRUSLDLSRUWLGLVSHUGHQGROLIUDROWUHVFDOLFODVVLILFDWL
43.
HDOOHIHUURYLHVRWWRSRVWHDGXQDFXUDGLPDJUDQWHFKH FR]]DYD FRQWUR O RURJUDILD
VWHVVD GL XQ 3DHVH SHU GXH WHU]L GL PRQWDJQD H FROOLQD H FRQWUR OD WHQGHQ]D HXURSHD H PRQGLDOH OD TXDOH GL QXRYR GDYD JUDQGH VSD]LR LQQRYDWLYR HG HVSDQVLYR DOOD URWDLD ,Q TXHJOL DQQL GL HEEUH]]D DXWRVWUDGDOH LO GLUHWWRUH JHQHUDOH GHOOH )6 5XEHQ )LHQJD OR UDFFRQWz LQ XQ FRQYHJQR TXDOFKH DQQR SL WDUGL
44.
VL VHQWu GLUH
GDO PLQLVWURGHL/DYRUL3XEEOLFL$OORUDGLUHWWRUHTXDQGROHFKLXGLDPRTXHVWHIHUURYLH4XHVWDHUDODPHQWDOLWjDOWHPSRLQFXLQDVFHDQFKHODSULPDLGHDGLRUULGRLR7LUUHQLFR * 6LQWHVLGHOO¶LQWHUYHQWRLQWURGXWWLYRDQRPHGHOOHDVVRFLD]LRQLDPELHQWDOLVWHDOFRQYHJQR³RUULGRLRWLUUHQLFROHDXWRVWUDGHGDGLPHQWLFDUH´GHOPDJJLR±5RPD6DODGHOOD 3URWRPRWHFDLQDPSLGRJOLR 6
45.
2JJL TXDUDQW DQQL GRSR
O 8QLRQH (XURSHD FRQ OH QXRYH 7(1W 5HWL GL 7UDVSRUWR 7UDQVHXURSHH
46.
SXQWD SL ULVROXWDPHQWH
VXOOD IHUURYLD VXOOH DXWRVWUDGH GHO PDUH H VXOO LQWHUPRGDOLWj PD O ,WDOLD 3DHVH PDULWWLPRFRPH QHVVXQ DOWUR VFRPPHWWH LQYHFHVXOOD IRUPXOD DVIDOWR FHPHQWRRUPDL REVROHWD VX QXRYH DXWRVWUDGHFRO FRQWRUQRGL EUHWHOOH FRPSODQDUL WDQJHQ]LDOL HFF RVu FL FRQGDQQLDPR DG XQ FRQVXPR GL WHUULWRULR H GL WHUUD D FROWLYR D ERVFR R D PDJDUL D SDUFR LQVHQVDWR LQ XQ 3DHVH FKH SXU IHUPR GHPRJUDILFDPHQWHHFRQXQRVWRFNGLYDQLG DELWD]LRQHHQRUPHYLDJJLDDOULWPRDQQXRGLFLUFDPLODHWWDULGLWHUUHQLPDQJLDWLGDQXRYHORWWL]]D]LRQLLSHUPHUFDWLIDEEULFKH PDDQFKHVWUDGHHDXWRVWUDGHHFFRJQLGHFHQQLRXQDUHJLRQHJUDQGHFRPHOD3XJOLDRVuFLFRQGDQQLDPRDIHUURYLHYHFFKLHHOHQWHQRQVROWDQWRQHO6XGPDDQFKHQHOHQWUR VSHFLHQHOOHWUDVYHUVDOLROWUHRUHQHOPLJOLRUHGHLFDVLIUD5RPDH3HVFDUDSHU.PRIUD5RPDH$QFRQD
47.
HQHOODOLQHDWLUUHQLFDSHU*HQRYDROWUHRUHFRLWUHQLSLUDSLGLIUD 5RPDHLOFDSROXRJROLJXUHSHU.P
48.
RVuFLFRQGDQQLDPRDGHVVHUHFRORQLDSHULOFDERWDJJLR /DSULPDLGHDGLRUULGRLRWLUUHQLFR /DSULPDLGHDGLRUULGRLR7LUUHQLFRQDVFHLQTXHOODFXOWXUDJLjDOORUDDUUHWUDWDULVSHWWRDOOHHVLJHQ]HUHDOLGHO3DHVHHDOOHWHQGHQ]HGHOOHHFRQRPLHSLDYDQ]DWH(VVDVLWUDVFLQDD OXQJRVHQ]DWURYDUHVERFFKL,Q7RVFDQDYLHQHUHDOL]]DWDODVXSHUVWUDGDGD5RVLJQDQRD*URVVHWRFKHUHJJHEHQHVHQ]DJUDQGLVDFULILFLDPELHQWDOLLOWUDIILFRYHLFRODUHPHQWUHQHL 35*GHLRPXQLGLTXHOO DUHDLOWUDFFLDWRGHOO $XUHOLDYLHQHPLJOLRUDWRFRQFLUFRQYDOOD]LRQLHDOWUR1RQFRVuSXUWURSSRGD*URVVHWRDOFRQILQHFRO/D]LRRVROWDQWRLQSDUWHDVSH]]RQL (GqOuFKHWXWWRUDVLFRQFHQWUDLOPDJJLRUJUDGRGLSHULFRORVLWjHGLLQFLGHQWLPRUWDOLGRYXWLDOODSHUVLVWHQ]DGHOOHGXHVROHFRUVLHHGLQXPHURVLHULVFKLRVLDWWUDYHUVDPHQWLDUDVR 8QDSHULFRORVLWjQHWWDPHQWHVXSHULRUHDTXHOODGHOODPHGLDUHJLRQDOH ,QVHTXHQ]DQHO LO3DUODPHQWRGHFLGHGLVRVSHQGHUHODUHDOL]]D]LRQHGHOO DXWRVWUDGDDSHGDJJLRHFLQDLYLWDYHFFKLDPDQHFRQIHUPDODFRQFHVVLRQHDOOD6$7ODTXDOHULFHYHUj GDOO $1$6QHO ROWUHPLOLDUGLGLOLUHDWLWRORGLWUDQVD]LRQH$OODILQHGHOJRYHUQR$PDWRPLQLVWUR1HVLVRWWRVHJUHWDULR0DWWLROLYLHQHVLJODWDFRQOD5HJLRQH7RVFDQD SUHVLGHQWH0DUWLQL
49.
O LQWHVDLQEDVHDOODTXDOHVLSURFHGHUjDOODUHDOL]]D]LRQHGLXQD$XUHOLDVLFXUDDTXDWWURFRUVLHVHQ]DSHGDJJLRHDQFKHVHQ]DDWWUDYHUVDPHQWLDUDVR6XOODEDVH GHOGHWWDJOLDWRHPROWLYHUVLDSSUH]]DELOLVVLPRSURJHWWRUHGDWWRGDOO $1$69HUUDQQRFRVuVXSHUDWHOHVWUR]]DWXUHJUDYLHSHULFRORVHGL2UEHWHOORGHOOD7RUEDGLDSDOELRILQRDOODH[ 'RJDQDGL9XOFL0RQWDOWRHSRL7DUTXLQLD,OSURJHWWR$1$6YDDOOD9,$HOuSXUWURSSRqWXWWRUDEORFFDWR,QFUHGLELOPHQWH RQOHHOH]LRQLVLLQVHGLDLO*RYHUQR%HUOXVFRQLFKHKDDOFHQWURGHOVXRSURJUDPPDOH*UDQGL2SHUHHSRFKLJLRUQLGRSRLQPRGRSHUPHDQFRUDVRUSUHQGHQWHLOSUHVLGHQWH GHOOD5HJLRQH7RVFDQD0DUWLQLGLFKLDUDDO6ROH2UHDGHVVRO DXWRVWUDGDVLSXzIDUH/ LQWHVDGLFLQTXHPHVLSULPDqJLjDUFKLYLDWD7RUQDLQFDPSROD6$7FKHSXUHqVWDWD LQGHQQL]]DWD FRQ ROWUH
PLOLDUGL GL OLUH
50.
H FRPLQFLD LO
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qPDVHPPDLXQWUDFFLDWRHSRLQHPPHQRTXHOORYLVWRFKHQRQ VH QH FRQRVFH XQR GHILQLWLYR H VL SDUOD WXWW RJJL GL XQ LEULGR IUD FROOLQDUH H FRVWLHUR 0DL ULVROWL LQ RJQL FDVR UHVWDQR DOFXQL SUREOHPL QRGDOL SHU HVHPSLR TXHOOR GHOO DWWUDYHUVDPHQWR DXWRVWUDGDOH IUD 7DUTXLQLD 0RQWDOWR GL DVWUR H 9XOFL SDUFR QDWXUDOLVWLFR H DUFKHRORJLFR GHL SL VHQVD]LRQDOL SHU EHOOH]]D H LQWHJULWj / XOWLPD XVFLWD GHO SUHVLGHQWH0DUWLQLUHFDODGDWDGHOGLFHPEUHSHUGLUHFKH
51.
O DFFRUGRVXOWUDFFLDWRqRUPDLYLFLQR
52.
LOFRVWRGHOWUDFFLDWRFRVWLHURQRQqSRLWDQWRVXSHULRUHDTXHOORGHO SURJHWWR $1$6 GDO
PRPHQWR FKH TXHVW XOWLPR q UDGGRSSLDWR QHJOL RQHUL DUWLFROR VXO 7LUUHQR GHO
53.
2UD GL TXHOO DFFRUGR
YLFLQR QRQ VL VD SL QXOOD PHQWUH LO FRVWR GHO WUDFFLDWRFRVWLHURVWLPDWRGD0DULD5RVD9LWWDGLQLVXLPLOLDUGLGLHXURQHOJHQQDLRULPDQHPROWRPDPROWRSLDOWRGLTXHOORGHOSURJHWWR$1$6YDOXWDWRQHOVXJOL PLOLRQL GL HXUR H RJJL YDOXWDELOH DWWRUQR D PLOLDUGR H PLOLRQL GL HXUR RPH ID TXHVW XOWLPR DG HVVHUH SL FKH UDGGRSSLDWR QHL FRVWL LQ FRVu SRFR WHPSR HG HVVHQGR LO VROR SURJHWWR GHWWDJOLDWR SXUH QHJOL RQHUL )RUVH 0DUWLQL LQWHQGHYD FRVu PLWLJDUH XQ RELH]LRQH GL IRQGR SHUFKp PDL OR 6WDWR GRYUHEEH GDUH XQ FRQWULEXWR GL PLOLDUGL GL HXUR DO WUDFFLDWRFRVWLHURTXDQGRO LQWHURSURJHWWR$1$6JOLFRVWHUHEEHXQEHOSR GLPHQR4XLSHUzVLIHUPDQROHGLFKLDUD]LRQLXIILFLDOLHDTXHVWRVWLDPR 0HQR SUROXQJDWD QHO WHPSRPD FDULFD DQFK HVVD GL WDQWHFRQWUDGGL]LRQL JUD]LH DQFKH DOOD LQFDSDFLWj R LPSRVVLELOLWj GLUHGLJHUH XQSURJHWWR PLQLPDPHQWH FUHGLELOH GDOSXQWRGL YLVWDWHUULWRULDOHHGDTXHOORILQDQ]LDULRODYLFHQGDGHOSUROXQJDPHQWRDVXGGL)LXPLFLQRGHORUULGRLR7LUUHQLFR,OWUDFFLDWRGLVHJQDWRLQJUDQIUHWWDGDOOD5HJLRQH/D]LRHGDOVXR SUHVLGHQWHSUHVHQWDWXWWDXQDVHULHGLSDOHVLLQFRHUHQ]HFRO3LDQRJHQHUDOHGHLWUDVSRUWLGHOOD5HJLRQH/D]LR
54.
GRYHVLSDUODGLDGHJXDPHQWRGHOOD663RQWLQDGDO*5$D 7HUUDFLQDFRO3LDQR5HJLRQDOHGHOOD9LDELOLWjGHOFKHSUHYHGHLOUDGGRSSLRGHOOD3RQWLQDILQRD7HUUDFLQD
55.
FROSURJUDPPDGLVYLOXSSRGHOODYLDELOLWjUHJLRQDOHGHOFRQ O ,SRWHVLGLIDWWLELOLWjUHJLRQDOHGHOLEHUD,3(
56.
HFRQO ,QWHVDTXDGUR0LQLVWHUR5HJLRQHGHOPDU]RFRO35*GHORPXQHGL5RPDGRYHQRQFHQ qWUDFFLD
57.
FRQOR6FKHPD WHUULWRULDOH GHOOD 3URYLQFLD
GL 5RPD GRYH VL SDUOD VHPSUH GL DGHJXDPHQWR IXQ]LRQDOH H SRWHQ]LDPHQWR GHOOD 3RQWLQD
58.
FRQ OD ]RQL]]D]LRQH
GHOOD 5LVHUYD GL 0DODIHGH FKH O DXWRVWUDGDDWWUDYHUVHUHEEH ,OIUHWWRORVRSURJHWWRqVWDWRQHOODVXDSULPDYHUVLRQHULWLUDWRSHUIDUORWRUQDUHLQVHGHGL9,$LODSULOHVFRUVRFRQXQDSURFHGXUDTXLQGLDSHUWDLQWHUURWWDHULDSHUWDLFXLWHUPLQL SHUOHRVVHUYD]LRQLVRQRVFDGXWLLSULPLGLPDJJLRRPHQHOFDVRGHORUULGRLR1RUGQXPHURVLHULOHYDQWLVRQRJOLLPSDWWLLQDUHHGLSUHJLRTXDOLODULVHUYDGL'HFLPD0DODIHGHHLO 7
59.
0DVVLFFLR FDUERQDWLFR GHL
0RQWL $XVRQL H $XUXQFL 8Q¶DUHD TXHVWD QHOOD TXDOH VL UHJLVWUDQR YDORUL DPELHQWDOL HOHYDWL YDULDPHQWH WXWHODWL LQIDWWL DQFKH LO VHFRQGR LQWHUYHQWR LQWHUIHULVFHFRQOD]RQDGHO3DUFRQDWXUDOHGHL0RQWL$XUXQFLHFRQO¶,%$,PSRUWDQW%LUG$UHDV
60.
FKHVLHVWHQGHVXTXHVWRJUXSSRPRQWXRVRHULFRPSUHQGHL0RQWL$XVRQL¶qSRLOD YDOXWD]LRQHGDFRPSLHUHVXOODFDQWLHUL]]D]LRQHGLJDOOHULHHYLDGRWWLGHLWUDWWLLQYDULDQWH 0DLOIDWWRDQFRUDSLVLQJRODUHqFKHDIURQWHGHOODFHQVXUDGHOOD$XWRULWj$QWLWUXVWHGHOODSURFHGXUDGLLQIUD]LRQHGHOODRPPLVVLRQH(XURSHDVXOODYLROD]LRQHGHOOHQRUPHVXOOHJDUH SXEEOLFKHHVXJOLDSSDOWLYLVWRLOUXRORVYROWRGD$5($6S$LO*RYHUQRH$1$6VLVRQREHQJXDUGDWLGDOO¶LQWHUYHQLUHVXOOD5HJLRQH/D]LRHDQ]LKDQQRFRQVHQWLWRODSUHVHQWD]LRQH DOOD9,$GLXQQXRYRSURJHWWR 6XO SLDQR GHOOD
SURFHGXUD ULOLHYL GHFLVDPHQWH SHVDQWL VRQR VWDWL PRVVL LO JHQQDLR VFRUVR GDOO $XWRULWj SHU OD YLJLODQ]D VXL ODYRUL SXEEOLFL LQ UHOD]LRQH DOO DIILGDPHQWR DOOD VRFLHWj $5($ /D]LR 6S$ D SUHYDOHQWH FDSLWDOH UHJLRQDOH
61.
GHOOD SURJHWWD]LRQH UHDOL]]D]LRQH
H JHVWLRQH GHOO RSHUD (VVD LQIDWWL ULWLHQH FKH O $5($ DEELD QDWXUD GL RUJDQLVPR GL GLULWWR SXEEOLFRHTXLQGLVLDVRJJHWWDDOOHUHJROHGHOODOHJJH0HUORQLVXJOLDSSDOWLSXEEOLFL3HUWDQWRRFFRUUHSHUHVVDHVSHULUHXQDUHJRODUHJDUDG DSSDOWR/D5HJLRQH/D]LRQRQKDWHQXWR FRQWRGHOULOLHYRRSHUDWRGDOO $XWRULWjFKHKDVHGHSUHVVRLO0LQLVWHURGHOOH,QIUDVWUXWWXUH
62.
DIILGDQGRGLUHWWDPHQWHDOO $5($XQD9DULDQWHDOSURJHWWRSUHOLPLQDUH/DRPPLVVLRQH (XURSHDKDLQYLDWRSHUHVVDXQDOHWWHUDGLPHVVDLQPRUDSHUYLROD]LRQHGLGXH'LUHWWLYHHXURSHHHGHJOLDUWHGHO7UDWWDWR8( 3RLFLVRQRDQFKHTXLHYLGHQWLLQFRHUHQ]HHFRQWUDGGL]LRQLQHOSLDQRILQDQ]LDULRGHOO RSHUD6LDLOSULPRSURJHWWRFKHLOVHFRQGRFRVWDQRODEHOOH]]DGLPLOLDUGLGLHXUR6HPSUHWDQWL ULVSHWWRDOOHULVRUVHGLVSRQLELOLHDLPRGHVWLIOXVVLGLWUDIILFRFKHSRWUDQQRFRSULUHFRQLOSHGDJJLDPHQWRVRORXQDSRU]LRQHPROWRFRQWHQXWDGHLFRVWLGHOO¶RSHUD ,FRVWLHFRQRPLFLVRFLDOLHDPELHQWDOLGHLGXHRUULGRL 6HSRLVRPPLDPRLOFRVWRGHLGXHRUULGRL7LUUHQLFLGDQRUGDVXGDYYLFLQLDPRLPLOLDUGLGLHXURTXDQGRGDODOLO*RYHUQRKDVWDQ]LDWRSHUODUHDOL]]D]LRQHGHO3ULPR SURJUDPPDGHOOHRSHUHVWUDWHJLFKHVXWXWWRLOWHUULWRULRQD]LRQDOHPLOLDUGLGLHXUR $TXHVWRSXQWRRFFRUUHVRWWROLQHDUHLOUXRORHVVHQ]LDOHFKHKDQQRDYXWRVLDLQ7RVFDQDFKHQHO/D]LRFRPLWDWLGLFLWWDGLQLVJDQFLDWLGDLSDUWLWLGLRJQLFROORFD]LRQHDVVRFLD]LRQLORFDOLH QD]LRQDOL QRWRULDPHQWH WUDVYHUVDOL
ULXQHQGR LQ PRGR PROWR YLWDOH H FRQVDSHYROH DQFKH LPSUHQGLWRUL H RSHUDWRUL GHO VHWWRUH DJULFRORDOLPHQWDUH GHO FRPSDUWR LQGXVWULDOH H WXULVWLFR /XQJRO $XUHOLDQRQDQFRUDDTXDWWURFRUVLHHFRQDWWUDYHUVDPHQWLDUDVRLOQXPHURHODSHULFRORVLWjGHJOLLQFLGHQWLFRQWLQXDDGHVVHUHHOHYDWD$QFRUSLDOWLVLSUHVHQWDQRJOLLQGLFL GLULVFKLRVXOOD3RQWLQD/DSUHWHVDGLUHDOL]]DUHDQFKHVHQ]DLPH]]LLQGLVSHQVDELOLHVHQ]DSURJHWWLWHFQLFDPHQWHFUHGLELOLDOWUHWWDQWHDXWRVWUDGHQRQIDFKHDOORQWDQDUHFLQLFDPHQWH QHOWHPSRODVROX]LRQHUHDOLVWLFDGHOO DGHJXDPHQWRHGHOSRWHQ]LDPHQWRGHOOHGXHVWUDGHVWDWDOLQRQIDFKHUHQGHUHFURQLFRORVWLOOLFLGLRGLPRUWLGLIHULWLGLLQIRUWXQDWLVXGLHVVH / $XUHOLDQHOWUDWWRJURVVHWDQRHDQFRUSLLQTXHOORYLWHUEHVHHOD3RQWLQDSUHVHQWDQRLQIDWWLLQGLFLGLJUDYLWjGLLQFLGHQWL.PGLULVFKLRGLLQFLGHQWLHGLULVFKLRGLPRUWDOLWjVSHVVR QHWWDPHQWH VXSHULRUL DOOD PHGLD GHOOH DOWUH VWUDGH VWDWDOL GHOOH ULVSHWWLYH UHJLRQL $GHJXDUH H SRWHQ]LDUH OH GXH DUWHULH DO SL SUHVWR q R GRYUHEEH HVVHUH XQ SUHFLVR GRYHUH 4XHVWRGUDPPDWLFRULOLHYRGLIRQGRHUDLQHYLWDELOHDOODILQHGLXQULHSLORJRFURQLVWLFRGHOOHYLFHQGHFKHKDQQRDFFRPSDJQDWRFRQSDVVDJJLIUDQFDPHQWHVFRQFHUWDQWLLGXHWUDFFLDWL TXDQWRPDLDSSURVVLPDWLYLGHORUULGRLR7LUUHQLFR8QDDQDOLVLDSSURIRQGLWDFRQIHUPDFKHLQRDOO LGHDYHFFKLDHVXSHUDWDWXWWDDXWRVWUDGDOHGHOOH*UDQGL2SHUHQRQVRQRDIIDWWR LGHRORJLFLHFKHFRPXQTXHDGHVVLQRQFLOLPLWLDPRIDFHQGRHPHUJHUHFRQWURSURSRVWHVHULHUHDOLVWLFKHHEHQIRQGDWH INCIDENTI INCIDENTI/KM Totale Italia 204.675 0,47 Strade statali 18.683 0,42 Aurelia tratto Rosignano-Grosseto 41 0,41 Aurelia tratto Grosseto-Civitavecchia 87 0,87 'DWL$QDV 8
63.
,/255,'2,27,55(1,21(//$32/,7,$(8523($'(,75$63257,
GL*LDQQL0DWWLROL ,OSUHVXQWRYLQFRORHXURSHR /DVFHOWDGLLQWHUYHQLUHVXOFROOHJDPHQWRVWUDGDOHWLUUHQLFRUHDOL]]DQGRXQDVWUXWWXUDDXWRVWUDGDOHqVWDWDDOXQJRVRVWHQXWDFRQODPRWLYD]LRQHFKHFLzHUDULFKLHVWRGDOODFRQJUXLWj FRQODVWUXWWXUDGHOODJUDQGHYLDELOLWjHXURSHDHFLzDQFRUDSULPDGHOODFUHD]LRQHGHOOD5HWH7UDQVHXURSHDGHL7UDVSRUWL57(7LQLQJOHVH7(17UDQV(XURSHDQ1HWZRUN
64.
FKHQDVFH QHOLO7UDWWDWRGL0DDVWULFKW
65.
KDULFRQRVFLXWRO¶LPSRUWDQ]DGHOODFUHD]LRQHGHOOHUHWLWUDQVHXURSHHLQPDWHULDGLWUDVSRUWLGLHQHUJLDHGLWHOHFRPXQLFD]LRQLPDO¶LPSXOVR SROLWLFRDOODFUHD]LRQHGHOOD57(qVWDWRGDWRLQRFFDVLRQHGHORQVLJOLR(XURSHRGLRSHQDJKHQJLXJQR
66.
RPHqQRWRqLO0LQLVWURGHOO¶$PELHQWH*LRUJLR5XIIRORFKHIDVXHOHUDJLRQLGHOO¶RSSRVL]LRQHHFDQFHOODLOSURJHWWRFKHGHYDVWDOHFROOLQHGHOOD0DUHPPDHVWUDERUGDSRLQHOOD]RQD GHOOHQHFURSROLHWUXVFKH/DOHJJHILQDQ]LDULD¶OLTXLGDGHILQLWLYDPHQWHDOODFRQFHVVLRQDULDWXWWLLVXRLGLULWWL (WXWWDYLDVLWRUQDDSDUODUHQXRYDPHQWHGL³YLQFRORHXURSHR´QHODOORUFKpOD5HJLRQH7RVFDQDSUHPHSHUFKpVLDGRWWLSHUODVLVWHPD]LRQHGHILQLWLYDGHOO¶$XUHOLDODVROX]LRQH GHO ³SHGDJJLDPHQWR´ FLRq
GHOO¶DXWRVWUDGD GL FRVWD 4XHVWD SRVL]LRQH FKH LPSOLFD OD UHDOL]]D]LRQH GL XQ¶DGHJXDWD YLDELOLWj FRPSODQDUH LQFRQWUD RSSRVL]LRQH VLD SHU LO ULOHYDQWH LPSHJQRGLWHUULWRULRHFRQVHJXHQWHVFRQYROJLPHQWRDPELHQWDOH
67.
FKHHVVDFRPSRUWDVLDSHULOPDJJLRUHRQHUHSHUORVWDWRTXDQWLILFDWRGDOO¶$1$6LQPOG RQ O¶DFFRUGR GHO
GLFHPEUH WUD VWDWR UHJLRQL H DPPLQLVWUD]LRQL ORFDOL TXHVWD SRVL]LRQH YLHQH FDQFHOODWD H LO 3LDQR *HQHUDOH GHL 7UDVSRUWL DSSURYDWR QHO PDU]R GDO JRYHUQR$PDWRGRSRXQDYHULILFDDQFKHULVSHWWRDLYLQFROLFRPXQLWDULDGRWWDODVFHOWDGHOODWUDVIRUPD]LRQHGHOO¶$XUHOLDLQVXSHUVWUDGD (¶ LQILQH FRQ O¶DQQXQFLR GD SDUWH GHO QXRYR JRYHUQR GL YROHU ULPHWWHUH LQ GLVFXVVLRQH OD VFHOWD RSHUDWD GDO JRYHUQR $PDWR FKH QXRYDPHQWH VL GLFKLDUD OD QHFHVVLWj GL VFHOWH FRHUHQWLFRQOD5HWH7UDQVHXURSHDGHL7UDVSRUWLHDTXHVWDQHFHVVLWjIDULIHULPHQWRDQFKHOD5HJLRQH7RVFDQDQHOVXRVRVWHJQRDOSURJHWWRGLDXWRVWUDGDGLFRVWD $QFKH VH QHOO¶LQFRQWUR GL $OEHUHVH GHOO¶ RWWREUH ³,O FRUULGRLR WLUUHQLFR OD SURSRVWD GHOOD 7RVFDQD´ SURPRVVR GDOOD 5HJLRQH 7RVFDQD OD PRWLYD]LRQH HXURSHD QRQ FRPSDUH SLQpQHOOHGLFKLDUD]LRQLGL*LXQWDQpQHOOHUHOD]LRQLWHFQLFKHTXHVWDPRWLYD]LRQHqVWDWDFRVuDOXQJRGUDVWLFDPHQWHDIIHUPDWDHLQVLVWLWDGLQDQ]LDLFLWWDGLQLFKHVHPEUDXWLOHXQD YROWDSHUWXWWHGLUHFRQWXWWDFKLDUH]]DFKHHVVDQRQDYHYDVLQGDOODVXDRULJLQHDOFXQIRQGDPHQWRQpGDOSXQWRGLYLVWDIRUPDOHQpGDOSXQWRGLYLVWDVRVWDQ]LDOHDQ]LGDTXHVWR XOWLPRSXQWRGLYLVWDODVROX]LRQHDXWRVWUDGDOH±GLFRVWDRFROOLQDUHDSSDUHSLXWWRVWRLQFRQWUDVWRFRQJOLRULHQWDPHQWLHXURSHL /¶DVSHWWRIRUPDOH 6L WUDWWD GXQTXH GL ULVSRQGHUH DOOD GRPDQGD HVLVWHYD XQ YLQFROR HXURSHR GHULYDQWH GDOO¶LQVHULPHQWR GHOO¶$XUHOLD QHOOD YHFFKLD OLVWD 57(7 DSSURYDWD QHO DG (VVHQ LQ FRQWUDVWRFRQODVXDWUDVIRUPD]LRQHLQVXSHUVWUDGD $ TXHVWD GRPDQGDPL q WRFFDWR GLGDUH JLjULVSRVWD GD PLQLVWUR GHOOH 3ROLWLFKH FRPXQLWDULH LQ VHGH,3( SHU ODYDOXWD]LRQH ± FRPHVRSUDULFRUGDWR GHO 3*7FKH LO FRQVLJOLRGHL PLQLVWULVLDFFLQJHYDDGDSSURYDUH/DULFRJQL]LRQHHIIHWWXDWDGDJOLXIILFLGHOPLQLVWHURIXDVVROXWDPHQWHQHJDWLYD 3HU VFUXSROR LQ SUHYLVLRQH GHO FRQYHJQR SURPRVVR GDOOH DVVRFLD]LRQL DPELHQWDOLVWH LO JHQQDLR DYHYR ULYROWR OR VWHVVR TXHVLWR DL IXQ]LRQDUL GHOOD '* 7UDVSRUWL GHOOD RPPLVVLRQH(XURSHDULFHYHQGRTXHVWDSXQWXDOHULVSRVWD ³*OLRULHQWDPHQWL7(1SUHVFULYRQRFKHODUHWHVWUDGDOH7(1±QHOODFXLFDUWLQDqLQGLFDWDOD66$XUHOLDqFRPSRVWDGLDXWRVWUDGHHGLVWUDGHGLHOHYDWRVWDQGDUGHVLVWHQWLQXRYHR GD DGHJXDUH DUW
68.
H JOL LQWHUYHQWL
SRVVLELOL FRPSUHQGRQR O¶DGHJXDPHQWR GL VWUDGH GL HOHYDWR VWDQGDUG DOOHJDWR ,, VH]LRQH
69.
4XLQGL VH OH
DXWRULWj LWDOLDQH SHU SURPXRYHUH OD FRVWUX]LRQHGLXQDQXRYDDXWRVWUDGDSDUDOOHODDOOD66HVLVWHQWHVLIRQGDQRVXJOLRULHQWDPHQWL7(1QHIDQQRXQDOHWWXUDHUUDWD ,FRILQDQ]LDPHQWLFRPXQLWDULGHVWLQDWLDOODUHWHVWUDGDOH7(1QRQVRQRLQDOFXQFDVRYLQFRODWLGDOODQHFHVVLWjGLUHDOL]]DUHXQ¶LQIUDVWUXWWXUDDXWRVWUDGDOHDSHGDJJLRODVFHOWDGHOWLSR GLLQWHUYHQWRUHVWDGLWRWDOHUHVSRQVDELOLWjGHOOR6WDWRPHPEUR´ * $JJLRUQDPHQWRGHOO¶LQWHUYHQWRDOFRQYHJQRSURPRVVRGDOOHDVVRFLD]LRQLDPELHQWDOLVWH³3HUOD0DUHPPDXQDVRODVWUDGDO¶$XUHOLDVLFXUD´GHOJHQQDLR±2UEHWHOORDVDOH GHOOD*LDQQHOOD 9
70.
1HOOD QXRYD OLVWD
7(1 DSSURYDWD GHILQLWLYDPHQWH GDO 3DUODPHQWR HXURSHR LO JLXJQR F¶q LQILQH GD ULOHYDUH FKH LO RUULGRLR WLUUHQLFR PXOWLPRGDOH QRQ DSSDUH SL WUD OD WUHQWLQD GL SURJHWWL SULRULWDUL VHOH]LRQDWL GDO JUXSSR GL DOWR OLYHOOR SHU OH UHWL WUDQVHXHURSHH GL WUDVSRUWR FKH KD VFHOWR HVFOXVLYDPHQWH GL ILQDQ]LDUH GDO DO LQ JUDQGH SUHYDOHQ]DDVVLIHUURYLDULHOHFRVLGGHWWHDXWRVWUDGHGHOPDUH /¶(XURSDFRVuFRQIHUPDO¶RULHQWDPHQWRYHUVRLOULHTXLOLEULRPRGDOHLQIDYRUHGHLVLVWHPLGLWUDVSRUWRSLVRVWHQLELOL /¶DVSHWWRVRVWDQ]LDOHJOLRULHQWDPHQWLHXURSHL 6JRPEUDWRLOFDPSRGDTXDOVLDVLYLQFRORIRUPDOHPLVHPEUDXWLOHYDOXWDUHLSURJHWWLLQFDPSRSHULOFROOHJDPHQWRWLUUHQLFRDOODOXFHGHJOLRULHQWDPHQWLGHOO¶8QLRQH(XURSHDSUHFLVDWL QHO/LEUR%LDQFR³/DSROLWLFDHXURSHDGHLWUDVSRUWLILQRDO´DGRWWDWRGDOODRPPLVVLRQH(XURSHDLOVHWWHPEUH 1HOSUHVHQWDUHODVXDSURSRVWDDVRVWHJQRGHOO¶DXWRVWUDGDGLFRVWDOD*LXQWDUHJLRQDOHWRVFDQDVRWWROLQHDLOIDWWRFKHTXHVWRSURJHWWRYDFRQVLGHUDWRLQXQTXDGURG¶LQWHUPRGDOLWj ³VWUHWWDPHQWHDQFRUDWRFLRqDXQVLVWHPDRUJDQLFRGLUDFFRUGRFRQODSRUWXDOLWj/LYRUQR3LRPELQRHLSRUWLPLQRULGHOOD0DUHPPD´ ,QDPEHGXHSRLOHUHOD]LRQL±GL3DROR/HRQHGL*LXVHSSHDPSRV9HQXWL±VYROWHQHOJLjFLWDWRFRQYHJQRGL$OEHUHVHYLHQHPHVVRLQHYLGHQ]DLOIDWWRFKHDGLIIHUHQ]DGHOOHGXH VROX]LRQL DXWRVWUDGDOL OD UHDOL]]D]LRQH GHOOD VXSHUVWUDGD ³SUHVHQWD XQ PLQRU WUDIILFR GL OXQJD SHUFRUUHQ]D´ /HRQ
71.
³DVVROYH«LO UXROR UHJLRQDOH
PD ULQXQFLD GHOLEHUDWDPHQWH DG DVVROYHUHTXHOORQD]LRQDOH´DPSRV9HQXWL
72.
0DTXLqDSSXQWRODSURIRQGDGLIIHUHQ]DGLSURVSHWWLYDVWUDWHJLFDFRQO¶(XURSD'DXQDSDUWHF¶qLQIDWWLFKLJXDUGDDGXQDSURVSHWWLYDVHFRQGRODTXDOHELVRJQDUHDOL]]DUHXQµRSHUD FDSDFHGLDVVRUELUHLOFDULFRFUHVFHQWHGLWUDIILFRSUHYHGLELOHSHULOIXWXURGDOO¶DOWUDF¶qO¶(XURSDFKHULWLHQHFKH •
XQPRGHUQRVLVWHPDGHLWUDVSRUWLGHYHULVXOWDUHVRVWHQLELOHWDQWRGDOSXQWRGLYLVWDHFRQRPLFRFKHVRFLDOHFKHDPELHQWDOH • ODFUHVFLWDVTXLOLEUDWDGHLGLYHUVLPRGLGLWUDVSRUWRqLQJUDQSDUWHGRYXWDDOODPDQFDWDLQWHUQDOL]]D]LRQHGHLFRVWLHVWHUQLLQSULPROXRJRGHOO¶DPELHQWH
73.
QHLSUH]]LGHOWUDVSRUWR
HDOO¶LQRVVHUYDQ]D±VRSUDWWXWWRQHOVHWWRUHGHOWUDVSRUWRVWUDGDOH±GLWDOXQHQRUPDWLYHGLVLFXUH]]DFLVLWURYDFRVuGLIURQWHDJUDYLSUREOHPLDPELHQWDOLHDOJUDYHWULEXWRGL YLWHOHJDWRDOO¶LQVLFXUH]]DVXOOHVWUDGH • L SUREOHPL GL FRQJHVWLRQH ULVFKLDQR GL PLQDUH OD FRPSHWLWLYLWj GHOO¶HFRQRPLD HXURSHD H WXWWDYLD D IURQWH GL XQD GRPDQGD GL WUDVSRUWR LQ FRQWLQXD FUHVFLWD OD ULVSRVWD GHOOD RPXQLWj QRQ SXz HVVHUH SURSULR OD FRVWUX]LRQH GL QXRYH LQIUDVWUXWWXUH PD XQ LQVLHPH GL PLVXUH FKH SHUPHWWHUDQQR LO GLVDFFRSSLDPHQWR WUD FUHVFLWD HFRQRPLFD H DXPHQWR GHOODPRELOLWj • LORQVLJOLRHXURSHRGL*|WHERUJKDSRVWRLOULHTXLOLEULRIUDLPRGLGLWUDVSRUWRDOFHQWURGHOODVWUDWHJLDGLVYLOXSSRVRVWHQLELOHVLWUDWWDGLWUDVIHULUHYHUVRPRGLDOWHUQDWLYLXQD SHUFHQWXDOH GL PHUFL SDUL DO SUHYLVWR WDVVR GL FUHVFLWD GHL WUDVSRUWL LQWHUQD]LRQDOL VX VWUDGD LO /LEUR %LDQFR SUHYHGH XQD VHULH GL PLVXUH YROWH DO WLHTXLOLEULR LQ SDUWLFRODUH L FRILQDQ]LDPHQWLFRPXQLWDULGRYUDQQRHVVHUHULYHGXWLHFRUUHWWLSHUGDUHODSULRULWjDOODIHUURYLDHDOWUDVSRUWRPDULWWLPRDXWRVWUDGHGHOPDUH
74.
HIOXYLDOHLQXQTXDGURRUJDQLFRH
WHFQRORJLFDPHQWHDYDQ]DWRGLLQWHUPRGDOLWj • LQTXHVWRTXDGURGLSRWHQ]LDPHQWRGHOO¶LQWHUPRGDOLWjFRPHRWWLPDOHFRPELQD]LRQHGLPRGLLWUDVSRUWLVWUDGDOLFRLQYROWLLQWDOLVLVWHPLGRYUHEEHURSUHYHGHUHGLVWDQ]HGLXWHQ]D SLEUHYLSRVVLELOL 3RVVLDPR GXQTXH FRQFOXGHUH FKH QHO TXDGUR GHOO¶LQWHUPRGDOLWj FKH OD 5HJLRQH 7RVFDQD LQWHQGH UHDOL]]DUH FRQ TXHVWD LQIUDVWUXWWXUD L JLXGL]L GL /HRQ H GL DPSRV 9HQXWL ± ³ OD VROX]LRQH VXSHUVWUDGD DSSDUH GHVWLQDWD D GLVWDQ]H GL XWHQ]D GL LQWHUHVVH SL UHJLRQDOH FKH QD]LRQDOH´ ± VSLHJDQR PROWR EHQH SHUFKp TXHVWD VROX]LRQH SLXWWRVWR FKH VROX]LRQL DXWRVWUDGDOLGLFRVWDRGLFROOLQDVLDFRHUHQWHFRQJOLRULHQWDPHQWLGHOODSROLWLFDGHLWUDVSRUWLGHOO¶(XURSD 10
75.
/($/7(51$7,9($/75$,$72$872675$'$/((*/,())(77,',5(7(
GL0DULD5RVD9LWWDGLQLGRFHQWHGL3LDQLILFD]LRQH7HUULWRULDOHDOOR,8$9GL9HQH]LD 8QSURFHVVRGHFLVLRQDOHVFRPELFFKHUDWR 1HOOD SXU DPSLD FDVLVWLFD LWDOLDQD GL RSHUH SXEEOLFKH PDO SURJHWWDWH H SHJJLR UHDOL]]DWH VLFXUDPHQWH OD VWRULD GHOO¶$XUHOLD GHO VXR WRUPHQWDWR SURFHVVR GHFLVLRQDOH H GHL VXRL VXFFHVVLYL³DGHJXDPHQWL´RFFXSDXQSRVWRHPEOHPDWLFR 0ROWHVRQROHUDJLRQL 3HUFKp LO JRYHUQR FHQWUDOH QRQ KD PDL DYXWR LO FRUDJJLR GL SURJUDPPDUH LQ WHUPLQL GL UHWH VWDELOHQGR LO UXROR GL FLDVFXQD LQIUDVWUXWWXUD LQ UHOD]LRQH DO VLVWHPD FRPSOHVVLYR GL WUDVSRUWR 1p KD PDL QHSSXUH WHQWDWR GL VWDELOLUH LQGLFD]LRQL SUHFLVH GL SULRULWj EDVDWH VX FRVWLEHQHILFL XWLOLWj GHOOH RSHUH SHU LO IXQ]LRQDPHQWR GHOOD UHWH H SHU OR VYLOXSSR GHOOH GLYHUVHDUHH)RUVHVHDYHVVHUDJLRQDWRLQVLHPHGLFRUULGRLRWLUUHQLFRHGLGRUVDOHFHQWUDOHGL$HGL(GLSRWHQ]LDPHQWRDXWRVWUDGDOHHGLTXDGUXSOLFDPHQWLIHUURYLDULGHGLFDWL DOOHPHUFLQRQVDUHPPRRJJLDTXHVWRSXQWR 0DSHUPROWLGHFHQQLODSROLWLFDGHLWUDVSRUWLqVWDWDVHPSOLFHPHQWHTXHOODGLODVFLDUVYLOXSSDUHFLDVFXQPRGRGLWUDVSRUWRVHFRQGRJOLLQWHUHVVLGHLVXRLJHVWRUL,QSDUWLFRODUHVLq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¶HTXLOLEULR ILQDQ]LDULR HUDQR IXRUL PLVXUD DQFKH SHU OH SXU ODUJKH PDJOLH GHOOD OHJLVOD]LRQH QD]LRQDOH 4XDQGR TXDOFKH LQWHUHVVH q VWDWR PDQLIHVWDWR QRQ HUD SHU OD UHDOL]]D]LRQHHJHVWLRQHGHOO¶RSHUDLQVpSHUDOWURWRWDOPHQWHGHILFLWDULDPDSHUO¶RSHUDLQWHVDFRPHVWUXPHQWRSHURWWHQHUHSUROXQJDPHQWLGLFRQFHVVLRQHVXEHQSLVRVWDQ]LRVLH ULFFKLWURQFKLJLjFRQFHVVL 1HO IUDWWHPSR JOL LQWHUYHQWL GL DOODUJDPHQWR D TXDWWUR FRUVLH GHL GHFHQQL SDVVDWL QRQ GL UDGR KDQQR SHJJLRUDWR OD SHULFRORVLWj GHOO¶$XUHOLD DO QXRYR VSD]LR SHU FRUUHUH QRQ KD FRUULVSRVWRQqXQDGHJXDWRVSD]LRGLVLFXUH]]DODWHUDOHQpXQDGHJXDWRULGLVHJQRGHOOHLQWHUVH]LRQLHQHSSXUHDIURQWHGLXQLPSUREDELOLOLPLWLGLYHORFLWjXQDGHJXDWRFRQWUROORGHO ORURULVSHWWR /¶$XUHOLD q GXQTXH GLYHQWDWD XQ LWLQHUDULR VWUDQR SHULFRORVR H GLVFRQWLQXR LQ TXDOFKH PLVXUD DWWUDWWLYR SHU LO WUDIILFR GL DWWUDYHUVDPHQWR H SHU YHOOHLWj FRUVDLROH PD DO WHPSR VWHVVRLQFDSDFHGLIDUGDVXSSRUWRVHQ]DFRQIOLWWRDOO¶LQVLHPHGHOODGRPDQGDFKHYLVLULYROJH 6HPEUDYDILQRDSRFRWHPSRIDXQSUREOHPDLQYLDGLULVROX]LRQH/¶LGHDGLPHWWHUPDQRILQDOPHQWHDGXQGLVHJQRSHUTXDQWRSRVVLELOHRPRJHQHRGHOOHFDUDWWHULVWLFKHGHOODVWUDGD GHLVXRLVWDQGDUGJHRPHWULFLHLVXRLDSSDUDWLGLVLFXUH]]DVHPEUDYDFRQGLYLVDHULWHQXWDXUJHQWHHLQGLIIHULELOHGDSDUWHGLWXWWLLOLYHOOLGL*RYHUQR6HPEUDYDFKHVLIRVVHSUHVDXQD GHFLVLRQH DFFHWWDELOH GL DGHJXDPHQWR GHOO¶$XUHOLD DG XQD VH]LRQH GL P FRPSOHWD GL VSDUWLWUDIILFR FRUVLH D QRUPD H FRUVLH GL HPHUJHQ]D 8QD VH]LRQH WDOH GD JDUDQWLUH XQ LWLQHUDULR SL FDSDFH HSL VLFXUR VHFRQGR XQ WUDFFLDWR LQJUDGRGL VHUYLUH OH QHFHVVLWj GHL FHQWULH GHOOH DWWLYLWj ORFDOL VHQ]D VWUDYROJHUH LO FDUDWWHUH GHJOL DPELHQWL HGHL SDHVDJJL DWWUDYHUVDWL3DUHYDDQFKHFKHLOODYRURFRQJLXQWRGHO³JUXSSRWHFQLFR´HGHOO¶$QDVIRVVHULXVFLWRDGHODERUDUHXQDUDJLRQHYROHULVSRVWDDTXHVWDUDJLRQHYROLVVLPDGHFLVLRQH/¶LQJ RVWDQWLQLGHOO¶$QDVDVVLFXUDYDO¶DSHUWXUDGHLFRQWLHULFRQORVWDQ]LDPHQWRJLjGLVSRQLELOHPLOLDUGLGLOLUHFLUFD
76.
HQWULLSULPLPHVLGHO 0DTXDOFRVDqDQGDWRVWRUWRHRJJLQRQVLFDSLVFHSLEHQHGLFRVDVLVWLDSDUODQGR$QFRUDXQDYROWDLOSURFHVVRGHFLVLRQDOHVLLQJDUEXJOLDPXWDQROHPRGDOLWjGLILQDQ]LDPHQWRGL UHDOL]]D]LRQHHJHVWLRQHHFRQHVVHPXWDLOUXRORGHOODVWUDGDLOVXRLQVHULPHQWRWHUULWRULDOHHQRQGDXOWLPRLOOLYHOORGHOVXRLPSDWWRVXOO¶DPELHQWH ,QTXHVWDPLDEUHYHUHOD]LRQHYRUUHLULFKLDPDUHPROWRSLDQDPHQWHHVHPSOLFHPHQWHDOFXQLSXQWLIHUPLUDJJLXQWLGXUDQWHO¶LVWUXWWRULDGHOSURJHWWR$QDVLQVHGHGLRPPLVVLRQHSHU OD 9DOXWD]LRQH GHOO¶,PSDWWR
$PELHQWDOH 9,$
77.
1DWXUDOPHQWH PL SUHQGHUz
OD OLEHUWj GL DQGDUH XQ SR¶ROWUH SURYDQGR DG DYDQ]DUH TXDOFKH ULIOHVVLRQH FLUFD JOL HIIHWWL IXQ]LRQDOL HG DPELHQWDOLFKHSRWUHEEHURGHULYDUHGDOO¶DIILGDPHQWRLQFRQFHVVLRQHHGDOODUHDOL]]D]LRQHGHOWUDFFLDWRDXWRVWUDGDOHFRVWLHURSURSRVWRUHFHQWHPHQWHGDOODUHJLRQH7RVFDQD * ,QWHUYHQWRDOFRQYHJQRSURPRVVRGDOOHDVVRFLD]LRQLDPELHQWDOLVWH³3HUOD0DUHPPDXQDVRODVWUDGDO¶$XUHOLDVLFXUD´GHOJHQQDLR±2UEHWHOORDVDOHGHOOD*LDQQHOOD 11
78.
,OSURJHWWR$QDV /¶LVWUXWWRULD9,$VXOSURJHWWR$QDVLQL]LDDPHWjGHO,OSURJHWWRSUHVHQWDWRGDLYLWDYHFFKLDD*URVVHWRVXGHUDGLYLVRLQWUHWURQFKLFLDVFXQRDIILGDWRDGXQJUXSSRGLYHUVRGL SURJHWWLVWL,WUHWURQFKLFRQVLVWHYDQRQHOODWUDWWDGDLYLWDYHFFKLDDOFRQILQHUHJLRQDOHSRFRSLGLNP
79.
QHOODWUDWWDGDOFRQILQHUHJLRQDOHDG$QVHGRQLDSRFRSLGLNP
80.
H QHOODWUDWWDGD$QVHGRQLDD*URVVHWRVXGSRFRSLGLNP
81.
/¶DVVXQWR SULQFLSDOH GHO
SURJHWWR HUD GL HVVHUH XQ DGHJXDPHQWR LQ VHGH GHOO¶$XUHOLD GRYH SHU DGHJXDPHQWR LQ VHGH VL LQWHQGH QRQ VROR O¶DOODUJDPHQWR GHOOD VHGH DWWXDOH SHU UDJJLXQJHUHJOLVWDQGDUGJHRPHWULFLILVVDWLPDLOSRVVLELOHVSRVWDPHQWRDOO¶LQWHUQRGLXQDIDVFLDGLSHUWLQHQ]DRFRUULGRLRGLOLPLWDWDDPSLH]]D ,O SUREOHPD FHQWUDOH GHOO¶DGHJXDPHQWR LQ VHGH q OD UHVFLVVLRQH GL WXWWD OD YLDELOLWj ORFDOH FKH DWWXDOPHQWH VL DWWHVWD VXOO¶$XUHOLD H OD QHFHVVLWj GL DWWUH]]DUH VWUDGH FRPSODQDUL D GRSSLRVHQVRGLPDUFLDSHUULDPPDJOLDUHODYLDELOLWjORFDOHHSHUIDUODFRQYHUJHUHDJOLVYLQFROLGRYHSRVVDHVVHUHULFROOHJDWDDOODVWUDGDSULQFLSDOH 3HURJQXQDGHOOHWUHWUDWWHLOSURJHWWR$QDVHODERUDHFRPSDUDVROX]LRQLGLYHUVH 3HULOWUDWWRWRVFDQRWUD*URVVHWRH$QVHGRQLDOD7RUED
82.
VLLQGLFDQRWUHSRVVLELOLVROX]LRQLXQDFRPSOHWDPHQWHLQVHGHXQDFRQWUDWWLLQDIILDQFDPHQWRDOODIHUURYLDHXQDIXRULVHGH GHWWD ³FROOLQDUH´ ,Q
WHUPLQL JHQHUDOL OD ORJLFD q TXHOOD GL HYLWDUH O¶DGHJXDPHQWR ULJRURVDPHQWH LQ VHGH ODGGRYH OD VWUDGD DWWUDYHUVD ]RQH GHQVDPHQWH DELWDWH H GRYH OR VSD]LR QHFHVVDULRSHUO¶DGHJXDPHQWRGHOO¶$XUHOLDSLOHFRPSODQDULSXzDUULYDUHDPHWULFRQHYLGHQWLSUREOHPLGLLQWHUIHUHQ]DFRQJOLDELWDWLHOHORURSHUWLQHQ]H /¶DGHJXDPHQWR LQ VHGH q LQYHFH OD VROX]LRQH ULWHQXWD PLJOLRUH QHOOH WUDWWH GRYH OD VWUDGD DWWUDYHUVD ]RQH SUHYDOHQWHPHQWH UXUDOL FRQ HGLILFL UDGLH SRVWL D FRQVLGHUHYROH GLVWDQ]D GDOOD VWUDGD FRVD FKH FRQVHQWH GL ULGXUUH DG XQD VROD OHFRPSODQDUL H GLULVSDUPLDUHFRQVXPR GLVXROR /H YDULDQWL ³FROOLQDUL´ FKHIDQQR ULIHULPHQWR DG DOFXQHSURSRVWH DYDQ]DWH GDOOD SURYLQFLDGL *URVVHWR HGDO RPXQHGL 2UEHWHOOR VRQR VWDWH VFDUWDWHSHUYLD GHL FRVWL PROWRSL HOHYDWL GRYXWL DOOD QHFHVVLWj GL QXPHURVHRSHUH G¶DUWH PD DQFKHSHU LGDQQL DPELHQWDOLFKHQHSRWUHEEHURGHULYDUH,QVRVWDQ]DLOSURJHWWRSUHYHGHO¶DGHJXDPHQWRLQVHGHGD$QVHGRQLDDG2UEHWHOORVFDORIXRULVHGHHOXQJRODIHUURYLDGD2UEHWHOORVFDORD )RQWHEODQGDHDQFRUDLQVHGHGD)RQWHEODQGDD*URVVHWRVXG 3HU O¶DWWUDYHUVDPHQWR GL $OELQLD GRYH O¶DIILDQFDPHQWR DOOD IHUURYLD FRPXQTXH QRQ HYLWD GL LQWHUFHWWDUH O¶DELWDWR H LO ILXPH $OEHJQD VRQR VWDWH SURSRVWH GXH LSRWHVL GL FXL XQD DJJLUDO¶DELWDWRLQSRVL]LRQHWRWDOPHQWHHVWHUQD 'HLVYLQFROLDWWXDOLGXHYHQJRQRDEROLWL0RQWLDQRH9ROWRQFLQR
83.
YHQJRQRDGHJXDWLRPRGLILFDWLLQVHGHHGXHYHQJRQRUHDOL]]DWLH[QRYRIXRULVHGH$OELQLDH2UEHWHOORVFDOR
84.
3HU LO WUDWWR
WRVFDQR WUD /D 7RUED H LO FRQILQH FRQ LO /D]LR O¶DGHJXDPHQWR q LQ VHGHSHU WXWWD OD WUDWWD FHQWUDOH PHQWUH VH QH GLVFRVWD FRQ GXH EUHYL YDULDQWL LQ FRUULVSRQGHQ]DGHO 3DOD]]RGHOKLDURQHHLQFRUULVSRQGHQ]DGHOSDOD]]RGHOOD1XQ]LDWHOOD'XHJOLVYLQFROL3HVFLD)LRUHQWLQDHDSDOELR3HUODYLDELOLWjFRPSODQDUHVLSURSRQHODULFXFLWXUDGLDOFXQH VWUDGHFRPXQDOLHVLVWHQWLHLOORURSUROXQJDPHQWRHFRPSOHWDPHQWRFRPSUHVLLVRWWRSDVVDJJLDOODIHUURYLDSHUULSRUWDUOHDOODFRQQHVVLRQHFRQLGXHVROLVYLQFROLGHOODWUDWWD 3HULOWUDWWROD]LDOHO¶DGHJXDPHQWRqVHPSUHLQVHGHFRQDPSOLDPHQWRWDORUDDPRQWHHWDORUDDYDOOHFRQO¶DPPRGHUQDPHQWRGLVYLQFROLHODUHDOL]]D]LRQHGLWUHQXRYLVYLQFROL SHULOFROOHJDPHQWRFRQOD$FRQOD66ELVHFRQO¶DUHDGL7XVFDQLD7DUTXLQLD 9DOHODSHQDGLULFRUGDUHDQFRUDGXHHOHPHQWLGHOO¶LVWUXWWRULD9LDSHUFKpDVVXPRQRLPSRUWDQ]DLQUHOD]LRQHDOOHQXRYHSURSRVWHGLWUDFFLDWRGHOODUHJLRQH7RVFDQDOHDQDOLVLUHODWLYH DOGDQQRDPELHQWDOHFRQQHVVRDOOHLSRWHVL³FROOLQDUL´HOHULFKLHVWHGHO0LQLVWHURGHOO¶$PELHQWHGLDSSURIRQGLPHQWRGHOSURJHWWRULYROWHDOO¶$QDVQHOQRYHPEUH ( VRVWDQ]LDOPHQWH YHUR FKH O¶LSRWHVL GL WUDFFLDWR LQWHUQR SURSRVWD GDOOD SURYLQFLD GL *URVVHWR H GDO FRPXQH GL 2UEHWHOOR q VWDWD VFDUWDWD GDOO¶$QDV VXOOD EDVH GHL PDJJLRUL FRVWL GL FRVWUX]LRQHGRYXWLDOO¶DOOXQJDPHQWRGHOSHUFRUVRLQSLULVSHWWRDOODVROX]LRQH$QDV
85.
HDOODQHFHVVLWjGLQRWHYROLRSHUHG¶DUWHFKLORPHWULGLJDOOHULHXQYLDGRWWRGLFLUFD NP HFF
86.
0D ROWUH DL
FRVWL PRQHWDUL GL FRVWUX]LRQH KDQQR SHVDWR PROWR L GDQQL DPELHQWDOL SRWHQ]LDOPHQWH FRQQHVVL DL WUDFFLDWL LQWHUQL 'DQQL FKH JOL 6WXGL GL ,PSDWWR SUHVHQWDWL FRQVLGHUDQR FRQ XQD FHUWD DFFXUDWH]]D H FKH SRVVRQR HVVHUH FRVu VLQWHWL]]DWL ³PHQWUH QHO SURJHWWR SUHVHQWDWR DO PLQLVWHUR GHOO¶DPELHQWH VL DWWUDYHUVD XQ WHUULWRULR IRUWHPHQWH DQWURSL]]DWRFKHVRORPDUJLQDOPHQWHLQWHUHVVDDPELWLGLXQFHUWRULOLHYRDPELHQWDOHODYDULDQWHLQWHUQDULJXDUGHUHEEHXQ¶DUHDGLHOHYDWRYDORUHHFRORJLFR,QTXHVW¶XOWLPDOHDWWLYLWj DQWURSLFKH VRQR Vu QXPHURVH HG LQWHQVH FDFFLD VHOYLFROWXUD DJULFROWXUD DOOHYDPHQWR GL EHVWLDPH WXULVPR
87.
PD QRQ LQFLGRQR
VLJQLILFDWLYDPHQWH VXOOD TXDOLWj GHJOL HFRVLVWHPL FLUFRVWDQWL LQVHUHQGRVL QHJOL KDELWDW QDWXUDOL H QHO SDHVDJJLR GHOOD 0DUHPPD 7RVFDQD LQ XQ UDUR HVHPSLR GL VYLOXSSR FRPSDWLELOH FRQ O¶DPELHQWH´ /D UHDOL]]D]LRQH GHO WUDFFLDWR LQWHUQRSRUWHUHEEHDGXQDIUDPPHQWD]LRQHGHJOLKDELWDWFKH³FRVWLWXLUHEEHXQDJUDYHSHUWXUED]LRQHSHUODVWUXWWXUDGLFRPXQLWjELRWLFKHWXWWRUDLQWHUFRQQHVVH3HUFDXVHJHQHWLFKH HGHPRJUDILFKHHDFDXVDGHOFRVLGGHWWRHIIHWWRPDUJLQHLOIUD]LRQDPHQWRGHOWHUULWRULRSURYRFKHUHEEHXQDLUULPHGLDELOHSHUGLWDGLELRGLYHUVLWjLOGHFOLQRGLQXPHURVHVSHFLHUDUH GHOODIORUDDXWRFWRQDHGHWHUPLQHUHEEHO¶LQJUHVVRGLVSHFLHHVRWLFKHVLQDQWURSLFKHHLQIHVWDQWL´ 12
88.
/HULFKLHVWHGHO0LQLVWHURGHOO¶DPELHQWH 1HO QRYHPEUH
GRSR O¶LVWUXWWRULD VXJOL VWXGL GL LPSDWWR SUHVHQWDWL H LO VRSUDOOXRJR L WHFQLFL GHO 0LQLVWHUR IRUPXODQR DOO¶$QDV XQD VHULH GL ULFKLHVWH GL DSSURIRQGLPHQWR H GL VYLOXSSRGLDOWHUQDWLYHSURJHWWXDOL 1HOWUDWWROD]LDOHFLVLOLPLWDDFKLHGHUHUHYLVLRQLGHJOLVFKHPLJHRPHWULFLGHOOHLQWHUFRQQHVVLRQLHPLJOLRUDPHQWLGHOODYLDELOLWjFRPSODQDUHSHULQVHULUODQHOWHVVXWRSRGHUDOH 1HOWUDWWRWUDLOFRQILQHUHJLRQDOHH$QVHGRQLDOHULFKLHVWHFRQFRUGDWHFRQ5HJLRQH7RVFDQDHFRPXQHGLDSDOELRULJXDUGDQRSXQWXDOLYDULD]LRQLGLWUDFFLDWRSDVVDUHDGRYHVWGHO 3DOD]]R GHO KLDURQH SLXWWRVWR FKH DG HVW DOORQWDQDUH LO WUDFFLDWR GDO FHQWUR DELWDWR LQ ORFDOLWj /D 7RUED HFF
89.
UHDOL]]DUH XQ QXRYR
VYLQFROL GL DSDOELR VFDOR DOFXQH FRUUH]LRQL DOWLPHWULFKH 3LFRPSOHVVHVRQRLQYHFHOHULFKLHVWHQHOWUDWWRWUD$QVHGRQLDH*URVVHWRVXG4XLVRQRLQGLYLGXDWHFRPHFULWLFLWjQRQSLHQDPHQWHULVROWHLOWUDWWRGLDWWUDYHUVDPHQWRGL2UEHWHOOR VFDOR LO WUDWWR GL DWWUDYHUVDPHQWR GHO FHQWUR GL $OELQLD SHUDOWUR LQGLFDWR FRPH FULWLFLWj GD DSSURIRQGLUH GDOOR VWHVVR SURJHWWR $QDV
90.
H LO WUDWWR
FRPSUHVR WUD LO ILXPH 2VD H )RQWHEODQGD /DRPPLVVLRQH9,$FKLHGHGLSRWHUGLVSRUUHGHOOHLQIRUPD]LRQLQHFHVVDULHSHUGHFLGHUHTXDOHVLDODVROX]LRQHPLJOLRUHKLHGHGXQTXHXQDRWWLPL]]D]LRQHGHOOHVROX]LRQLSUHVHQWDWH XQD SL GHWWDJOLDWD H FRPSOHWD DQDOLVL GHL ORUR LPSDWWL WDOYROWD QRQ VXIILFLHQWHPHQWH GRFXPHQWDWL QRQFKp OR VYLOXSSR GHJOL DVSHWWL IXQ]LRQDOL HFRQRPLFL HG DPELHQWDOL GL VROX]LRQL DOWHUQDWLYHOLPLWDWHDOOHFULWLFLWjSXQWXDOLRYYHURDOO¶LQWHURWUDWWRWUD$QVHGRQLDH)RQWHEODQGD (¶ LPSRUWDQWH VRWWROLQHDUH LO WRQR FRQ FXL OH ULFKHVWH VRQR IDWWH 1RQ q XQD SUHVD G¶DWWR GHOOD LQFRPSDWLELOLWj DPELHQWDOH GHO SURJHWWR SURSRVWR QHSSXUH LQ FRUULVSRQGHQ]D GHOOH FULWLFLWjULOHYDWH6LFKLHGRQRLQYHFHRWWLPL]]D]LRQLGHOSURJHWWRSUHVHQWDWRHFRQIURQWLFRQDOWUHDOWHUQDWLYHGLWUDFFLDWRLQPRGRGDSRWHUFRPSDUDUHHYDOXWDUHOHSRVVLELOLWjVHQ]D HVFOXGHUHFKHOHVROX]LRQL$QDVVLDQRHIIHWWLYDPHQWHOHPLJOLRUL /H ULFKLHVWH GHO 0LQLVWHUR GHOO¶DPELHQWH QRQ KDQQR DOORUD H QRQ DYUDQQR LQ VHJXLWR DOFXQD ULVSRVWD 'LIILFLOH QRQ PHWWHUH LQ UHOD]LRQH TXHVWR VLOHQ]LR GHOO¶$QDV H LO FRQWHPSRUDQHR DIIDFFLDUVL GHOOD SURSRVWD GL $XWRVWUDGD FROOLQDUH LQGLFDWD GDO 0LQLVWUR SHU OH LQIUDVWUXWWXUH H L WUDVSRUWL QHOOH SULRULWj GHOOD OHJJH 2ELHWWLYR FRQ WXWWD OD VXD SURPHVVD GL VHPSOLILFD]LRQHGHOODQRUPDWLYDGLDSSURYD]LRQHGHLSURJHWWL9,$FRPSUHVD
91.
HGLDVVHJQD]LRQHGHJOLDSSDOWL 8QDSURPHVVDGHOWXWWRFRQWURSURGXFHQWHQHOQRVWURFDVRSHUFKpVHVLIRVVHURODVFLDWHSURFHGHUHOHFRVHVHFRQGRO¶LPSRVWD]LRQHVRSUDULFRUGDWDDTXHVW¶RUDLFDQWLHULVDUHEEHUR JLjDSHUWL 4XDOFKHFRQVLGHUD]LRQHVXOO¶DXWRVWUDGDFRVWLHUD /H QXRYH SURSRVWH
UHJLRQDOL KDQQR XQD PDWULFH EHQ FRPSUHQVLELOH OD GLFKLDUD]LRQH GHO *RYHUQR GL ³LQGLVSRQLELOLWj´ D ILQDQ]LDUH O¶LQWHUYHQWR FRQ VROGL WRWDOPHQWH SXEEOLFL OD QHFHVVLWj GL FRQWUREDWWHUH DOOD SURSRVWD GL DXWRVWUDGD FROOLQDUH FRQ XQ SURJHWWR GL XJXDO SHVR GD ³VSHQGHUH´ QHL FRQIURQWL GHO 0LQLVWUR H GL WDOXQH IRU]H SROLWLFKH OD WHQWD]LRQH GL ULVROYHUHSUREOHPLHFRPSOLFD]LRQLGHOO¶LQWHUYHQWRVXXQDVWUDGDHVLVWHQWHFRQXQFROSRGLVSXJQD$PLRSDUHUHOHFRPSOLFD]LRQLHJOLDVSHWWLQHJDWLYLDJJLXQWLVRQRWXWWDYLDSLIRUWL GLTXHOOLHYLWDWL 0L SURYR DGHOHQFDUOL ULVHUYDQGRPL GL DSSURIRQGLUH ODFRQVLVWHQ]D GHL SUREOHPL TXDQGRVDUDQQR PHJOLR QRWH OH FDUDWWHULVWLFKH GHO SURJHWWR L VXRLFRVWL H L VXRL LPSDWWL 3HUFKpq VLFXUDPHQWHQHFHVVDULRFRQRVFHUHLQGHWWDJOLRFRVWLHGLPSDWWLSHUGHFLGHUHWUDOHGLYHUVHLSRWHVLHOHGLYHUVHLSRWHVLQRQSRWUDQQRIDUHDPHQRGLFRQIURQWDUVLFRQLOSURJHWWR$QDV 8QSULPRSUREOHPDDSSDUWLHQHDOODVIHUDGHOODORJLFD/DULQXQFLDDOO¶LQWHUYHQWRGLUHWWRDWWUDYHUVRO¶$QDVHLOULFRUVRDOO¶DIILGDPHQWRLQFRQFHVVLRQHVRQRPRWLYDWLGDOODPDQFDQ]DGHOOH ULVRUVHSXEEOLFKHQHFHVVDULHDUHDOL]]DUODQHLVHLDQQLSUHYLVWL ,O FRVWR VWLPDWR GHOO¶LQWHUYHQWR VDUj GHOO¶RUGLQH GHL PLOLDUGL PLOLRQL GL HXUR
92.
GL FXL
PLOLRQL GL HXUR
93.
D FDULFR GHOOR
6WDWR 1RQ VL FDSLVFH SHUFKp OR 6WDWR GRYUHEEHGLVSRUUHGLPLOLDUGLGDGDUHFRPHFRQWULEXWRDOODFRQFHVVLRQDULDHQRQKDLQYHFHLPLOLDUGLGDGDUHDOO¶$QDVSHUFRSULUHGLUHWWDPHQWHLFRVWLGHOODUHDOL]]D]LRQH GHOSURJHWWRJLjHODERUDWR6HPEUDXQDLQFRQJUXHQ]DQRQGDSRFR 8Q VHFRQGR SUREOHPD DSSDUWLHQH DOOD VIHUD GHOOD IXQ]LRQDOLWj RQ EXRQD SDFH GHOOH SUHWHVH GL ³RPRJHQHLWj´ VL SURSRQH SHU OD WUDWWD 5RVLJQDQR*URVVHWR VXG XQD HVD]LRQH GHO SHGDJJLRLQIRUPD³DSHUWD´GXHEDUULHUHDOOHHVWUHPLWjFRQVYLQFROLLQWHUPHGLJUDWXLWL
94.
PHQWUHSHUODWUDWWD*URVVHWRVXGLYLWDYHFFKLDVLSURSRQHO¶HVD]LRQHGHOSHGDJJLRLQIRUPD FKLXVDFRQVYLQFROLLQVRVWLWX]LRQHGHJOLDWWXDOL5LVXOWDGXQTXHHYLGHQWHODSHUGLWDGLUXRORGHOO¶LQIUDVWUXWWXUDQXRYDFRPHVRVWHJQRDOODPRELOLWjORFDOHHODIRU]DWXUDGHLWUDIILFL GLDUHDYHUVRO¶$XUHOLDGHFODVVDWDHSRFRLQWHUFRQQHVVDFKHDTXHOSXQWRGRYUjVRVWHQHUHODJUDQSDUWHGHLWUDIILFLORFDOL/DVLWXD]LRQHqDJJUDYDWDDGHYLGHQ]DODGGRYHVLLSRWL]]D
13
95.
XQ WUDFFLDWR ³FROOLQDUH´
DVVROXWDPHQWH LPSRVVLELOH GD UDFFRUGDUH IXQ]LRQDOPHQWH DOOD YLDELOLWj ORFDOH ,O WUDIILFR ORFDOH GRYUj ULYROJHUVL DQFRU SL REEOLJDWRULDPHQWH DOO¶$XUHOLD GHFODVVDWDGDYYHURVDUjUDJLRQHYROHULGXUQHODVH]LRQHHOHSUHVWD]LRQL RQVLGHUR FRQ XQ FHUWR VFHWWLFLVPR OD SRVVLELOLWj GL WUDVIRUPDUH L OXQJKL H YHORFLUHWWLOLQHL GHOO¶$XUHOLD LQ VWUDGD SDUFR WHUPLQH FKHVHPEUDVXJJHULUH WUDFFLDWL VLQXRVL HSURVSHWWLYH PXWHYROL9HGRLQYHFHFRQSUHRFFXSD]LRQHLOFRQFHQWUDUVLGLXQWUDIILFRFRPXQTXHYHORFHVXXQDVWUDGDGLPHWULQRWRULDPHQWHXQDGHOOHWLSRORJLHSLSHULFRORVHGLVWUDGDSHU YLD GHOOD ³WHU]D FRUVLD LPSOLFLWD´ 4XHVWD VH]LRQH GL VWUDGD SHU OD ODUJKH]]D GHOOH VXH GXH FRUVLH LQYLWD DO VRUSDVVR DQFKH LQ SUHVHQ]D GL YHLFROL FKH YHQJRQR QHOOD RSSRVWD GLUH]LRQH RQ VFRQWUL IURQWDOL HG HVLWL PRUWDOL WURSSR IUHTXHQWL 'XQTXH XQ WLSR GL VWUDGD PROWR SHULFRORVD FRQ OLYHOOL GL ULVFKLR DJJUDYDWL SLXWWRVWR FKH DWWHQXDWD GDOO¶DQGDPHQWR UHWWLOLQHRGHOO¶LQIUDVWUXWWXUD'DYYHURXQHVLWRSDUDGRVVDOHSHUXQLQWHUYHQWRPRWLYDWRDJUDQYRFHSHUUDJLRQLGLVLFXUH]]DGDJOLDELWDQWLGLTXHOOH]RQH 8Q WHU]R SUREOHPD DWWLHQH DOO¶LPSDWWR GHOOH VROX]LRQL LQWHUQH 1RQ VROR H QRQ WDQWR SHU XQD TXHVWLRQH GL FRVWL PRQHWDUL 0D SHU L FRVWL DPELHQWDOL GRYXWL DOOD UHDOL]]D]LRQH GL XQ QXRYRWUDFFLDWRLQDUHHSRFRDQWURSL]]DWHHDJUDQGHSUHJLRDPELHQWDOHRVWLGRYXWLDOODUHDOL]]D]LRQHGLXQQXRYRWUDFFLDWRFKHFRPSRUWDQXRYLLPSRUWDQWLYLDGRWWLHJDOOHULHPD DQFKHDOO¶LPSLDQWRHDOIXQ]LRQDPHQWRGHLFDQWLHULDOORVFDYRDOWUDVSRUWRHDOODVLVWHPD]LRQHGHOPDULQRDOOHFDYHGLSUHVWLWRDOSUHVXPLELOHVFRQYROJLPHQWRGHOO¶DPELHQWHSHUL FLQTXH R VHL DQQL GHOOD UHDOL]]D]LRQH $ WDOL FRVWL VL DJJLXQJRQR FRQ SDUWLFRODUH JUDYLWj OH SHUGLWH GL YDORUL DPELHQWDOL JLj ULFRQRVFLXWH QHOOH DQDOLVL $QDV OD IUDPPHQWD]LRQH GHOO¶KDELWDWGLVSHFLHUDUHHSUH]LRVHODSHUGLWDGLELRGLYHUVLWjODLQYDVLRQHGLVSHFLHHVRWLFKHVLQDQWURSLFKHHLQIHVWDQWL 8QXOWHULRUHSUREOHPDDWWLHQHDOUXRORGHOSHGDJJLR/¶LSRWHVL$QDVQRQFRQWHPSODYDO¶LPSRVL]LRQHGLXQSHGDJJLR/D5HJLRQHHLOSURIDPSRV9HQXWLDIIHUPDQRDXWRUHYROPHQWH FKH UHDOL]]DUH XQ LWLQHUDULR D JUDQGH FDSDFLWj GL WUDIILFR VHQ]D SHGDJJLR FRVWLWXLUHEEH XQ DWWR FRQWUDULR DOOD SROLWLFD GL ULHTXLOLEULR PRGDOH H IDYRULUHEEH O¶DUULYR GL XQ WUDIILFR ³SDUDVVLWD´GHYLDWRTXLGDOO¶XQLFDSURVSHWWLYDGLQRQSDJDUHLOSHGDJJLR )RUVH KDQQR UDJLRQH 0D QHOOD FDWHJRULD ³SHGDJJLR´ PHVFRODQR GXH DVSHWWL FKH GHYRQR HVVHUH WHQXWL EHQ VHSDUDWL 8Q DVSHWWR DWWLHQH DO SHGDJJLR FRPH VWUXPHQWR SHU LO ILQDQ]LDPHQWRGHOO¶LQIUDVWUXWWXUDXQDVSHWWRGLYHUVRDWWLHQHLQYHFHDOSHGDJJLRFRPHVWUXPHQWRSHURWWLPL]]DUHO¶XVRGHOODUHWHHSHULQWHUQDOL]]DUHLFRVWLHVWHUQDOL]]DWLGDOOHDWWLYLWj GLWUDVSRUWR/¶LQWURGX]LRQHGHOSHGDJJLRQHOFDVRGHOO¶DXWRVWUDGDFRVWLHUDDSSDUWLHQHVHQ]DGXEELRDOODFDWHJRULDGHOILQDQ]LDPHQWRGHOO¶LQIUDVWUXWWXUD3HUGLFKLDUD]LRQHGHO0LQLVWUR H GHOOD 5HJLRQHVL ULFRUUH DOOD FRQFHVVLRQHSHUFKp QRQVRQR GLVSRQLELOL ULVRUVH SXEEOLFKH 0D VH O¶DXWRVWUDGDFRVWD PLOLDUGL GL OLUH VWLPH 6DW
96.
R PLOLDUGL
VWLPH UHJLRQH FRPSUHVLJOLLQWHUYHQWLVXOO¶$XUHOLD
97.
HVHqYHURFKHLOWUDIILFRSDJDQWHDPPRQWDDYHLFROLJLRUQRVWLPH6DW
98.
DTXDQWRGHYHDPPRQWDUHODWDULIIDSHUFRQVHJXLUHO¶HTXLOLEULRGL ELODQFLRGHOODFRQFHVVLRQDULDHDTXDQWRGHYHDPPRQWDUHLOFRQWULEXWRGHOOR6WDWR,FLUFDPLOLDUGLGLFRQWULEXWRSXEEOLFRLSRWL]]DWLVRQRVXIILFLHQWL%DVWHUjLOWUDIILFRDWWXDOHH SUHYLVWR D FRSULUH
L FRVWL GL LQIUDVWUXWWXUD VHSSXUH LQ SUHVHQ]D GL XQ FRVu HOHYDWR FRQWULEXWR GHOOR VWDWR R VDUj QHFHVVDULR XQ IRUWH WUDIHULPHQWR GL WUDIILFR GD DOWUL LWLQHUDUL FRQFRUUHQWL(VHTXHVWDIRVVHODSURVSHWWLYDFKHHIIHWWLDYUjVXLOXRJKLDWWUDYHUVDWLVXOOHFRQGL]LRQLDPELHQWDOLVXOOHDWWLYLWjHJOLLQVHGLDPHQWL/DJHVWLRQHGHOO¶LQIUDVWUXWWXUDLQ SUHVHQ]D GL XQ SHGDJJLR ³GD ILQDQ]LDPHQWR´ LPSRQH OD UDULWj GHJOL DFFHVVL JXLGDWD GDL FRVWL GL HVD]LRQH
99.
OD VFDUVD LQWHJUD]LRQH
GHL WUDFFLDWL OD YLDELOLWj ORFDOH DJJLXQWLYD H XQD SDOHVHSROLWLFDGL³FDWWXUD´GLWUDIILFRGLDWWUDYHUVDPHQWRSRWHQ]LDOPHQWHGLVSRQLELOHDSDVVDUHDOWURYH7XWWHFRPSOLFD]LRQLHGHIIHWWLLQGHVLGHUDELOLQRQGDSRFR 9RUUHL FRQFOXGHUH DYDQ]DQGR XQ LQWHUURJDWLYR FKH q DQFKH XQD SURSRVWD 3HUFKq O¶LPSRVL]LRQH GL XQ SHGDJJLR GRYUHEEH HVVHUH FROOHJDWD HVFOXVLYDPHQWH DOOD FRQFHVVLRQH GL UHDOL]]D]LRQH H JHVWLRQH GHOO¶LQIUDVWUXWWXUD RQ OH QXRYH WHFQRORJLH GHOO¶LQIRUPDWLFD H GHOOD WHOHPDWLFD FKH KDQQR SRUWDWR DG LQQRYD]LRQL LPSRUWDQWLVVLPH DQFKH QHOOH WHFQLFKH GL HVD]LRQHGHOSHGDJJLRDGHVHPSLRO¶HVD]LRQHGLQDPLFD
100.
qRJJLSRVVLELOHVHOH]LRQDUHVXXQDVWHVVDLQIUDVWUXWWXUDOHFRPSRQHQWLSDJDQWLGDTXHOOHQRQSDJDQWLqSRVVLELOHYDULDUH OHWDULIIHLQIXQ]LRQHGHOOHRUHGHLSHULRGLGHOO¶DQQRGHOODVHQVLELOLWjGHLOXRJKL(¶SRVVLELOHFRPXQLFDUHFRQJOLXWHQWLDWWUDYHUVRPHVVDJJLYDULDELOL(¶SRVVLELOHSDJDUHLQGLIIHULWD TXDQWRGRYXWRVHQ]DQHSSXUHIHUPDUVLDOOHVWD]LRQLGLHVD]LRQH ,Q TXHVWD VLWXD]LRQH
VXVVLVWRQR WXWWH OH FRQGL]LRQL SHU SDVVDUH DG XQ SHGDJJLR ³GL UHWH´ H GL HIILFLHQ]D SLXWWRVWR FKH GL LQIUDVWUXWWXUD FRQ WDULIIH SHQVDWH SHU XWLOL]]DUH EHQH OD FDSDFLWj VWUDGDOH RIIHUWD H DQFKH SHU LQFHQWLYDUH O¶LQWHUFRQQHVVLRQH FRQ OH DOWUH PRGDOLWj SHU SURPXRYHUH SROLWLFKH GL LQWHUPRGDOLWj H FRPSRUWDPHQWL IXQ]LRQDOPHQWH H DPELHQWDOPHQWHSRVLWLYL 3HUFKpODUHJLRQHSLXWWRVWRFKHDFFHWWDUHODVILGD³PXVFRODUH´GHO0LQLVWURULVSRQGHQGRDGXQDDXWRVWUDGDWUDGL]LRQDOHFRQXQ¶DOWUDDXWRVWUDGDWUDGL]LRQDOHVRORORFDOL]]DWDLQXQDOWUR OXRJR QRQ DFFHWWD OD VILGD GHOO¶LQWHOOLJHQ]D H GHO SURJUHVVR WHFQRORJLFR LPPDJLQDQGR XQD QXRYD IRUPD GL DWWUH]]DWXUD H JHVWLRQH GHO VLVWHPD VWUDGDOH EDVDWD VXOOD WDULIID GL HIILFLHQ]DGHOODUHWH 3HUFKp LO SURJHWWR $QDV R TXDOFRVD GL PROWR VLPLOH QRQ SRWUHEEH HVVHUH JHVWLWR D SHGDJJLR FRQ XQD IRUWH FDULFD GL LQQRYD]LRQH RULHQWDWD DOOD VDOYDJXDUGLD H YDORUL]]D]LRQH GHOO¶DPELHQWHXPDQRHQDWXUDOHGLXQ¶DUHDLUULSHWLELOHFRPHOD0DUHPPDWRVFDQD 14
101.
,/21)5217221/$5(*,21(726$1$(,/3$7723(5/$0$5(00$
DFXUDGHO*UXSSRGLODYRUR /DSURSRVWDGLFRQIURQWR /HDVVRFLD]LRQLDPELHQWDOLVWHRPLWDWRSHUOD%HOOH]]D,WDOLD1RVWUD/HJDPELHQWH0RYLPHQWR(FRORJLVWDLO::),WDOLDHLFRPLWDWLORFDOLGLFLWWDGLQL6$0H0DUHPPD0DUHODQFLDQR LQ RFFDVLRQH GHO FRQYHJQR GHO JHQQDLR GL 2UEHWHOOR LO 3DWWR SHU OD 0DUHPPD DOOR VFRSR GL DYHUH JDUDQ]LH GD SDUWH GHOOD 5HJLRQH 7RVFDQD H GHJOL HQWL ORFDOL LQWHUHVVDWL ULJXDUGR DOOR VYROJLPHQWR GL XQD SURFHGXUD GL 9DOXWD]LRQH GL ,PSDWWR $PELHQWDOH 9,$
102.
FKH GDYYHUR IDFHVVH
XQ UDIIURQWR WUD OH LSRWHVL DXWRVWUDGDOL H OH DOWHUQDWLYH HVLVWHQWL D SDUWLUHGDOSURJHWWR$1$6HJDUDQWLVVHODSDUWHFLSD]LRQHDQFKHQHOODIDVHGHOODSURJHWWD]LRQHGHILQLWLYD $ TXHO 3DWWR VHJXu XQ FRQIURQWR WHFQLFR GDO OXJOLR DO VHWWHPEUH RQIURQWR FKH VL FRQFOXVH FRQ OD FRQVWDWD]LRQH GD SDUWH GHOOH DVVRFLD]LRQL DPELHQWDOLVWH GHO VRVWDQ]LDOH IDOOLPHQWR GHO 3DWWR HGHOOH GLVWDQ]H FKH FRQWLQXDQR D SHUPDQHUH QHOOH VFHOWH WUDVSRUWLVWLFKH LQIUDVWUXWWXUDOL HFRQRPLFKH H DPELHQWDOL WUD OD SRVL]LRQH GHJOL DPELHQWDOLVWL H TXHOOD GHOOHLVWLWX]LRQLDQFKHORFDOL ,ORWWREUHOH$VVRFLD]LRQLDPELHQWDOLVWHHLFRPLWDWL ORFDOLFLWDWLGHFLGRQRGLLQYLDUHXQOHWWHUDDUJRPHQWDWDDODXGLR0DUWLQLSUHVLGHQWHGHOOD5HJLRQH7RVFDQD5LFFDUGR RQWL DVVHVVRUH DL 7UDVSRUWL GHOOD 5HJLRQH 7RVFDQD /LR 6FKHJJL SUHVLGHQWH GHOOD 3URYLQFLD GL *URVVHWR ODXGLR )URQWLHUD SUHVLGHQWH GHOOD 3URYLQFLD GL /LYRUQR H DL 6LQGDFL GHL RPXQLLQWHUHVVDWL 4XHOODFKHVHJXHqODWUDVFUL]LRQHLQWHJUDOHGHOODOHWWHUDGHORWWREUHFKHGjFRQWRGHOFRQIURQWRHGHJOLDSSURIRQGLPHQWLVYROWLLQVHGHWHFQLFDFKVHFRQGRJOLDPELHQWDOLVWL DQFRUDXQDYROWDKDQQRSRUWDWRDGHYLGHQ]LDUHODLQVRVWHQLELOLWjGHOODVFHOWDDXWRVWUDGDOH UHGLDPRVLDRSSRUWXQRIDUHLOSXQWRHWUDUUHOHFRQFOXVLRQLGDJOLLQFRQWULWHFQLFLDYYHQXWLLQTXHVWLPHVLFRPHSUHYLVWRQHO3DWWRSHUOD0DUHPPDVRWWRVFULWWRGDOOD5HJLRQH7RVFDQD GDOOH3URYLQFHGL*URVVHWRH/LYRUQRGDJOL(QWL/RFDOLGDOOH$VVRFLD]LRQL$PELHQWDOLVWH ,O FRQIURQWR KD HYLGHQ]LDWR L ULVSHWWLYL SXQWL GL YLVWD QHOO¶HVDPH FRPSDUDWLYR WUD O¶$XWRVWUDGD FRVWLHUD SURSRVWD GDOOD 5HJLRQH H LO SURJHWWR GHILQLWLYR GL SRWHQ]LDPHQWR D WLSRORJLD DXWRVWUDGDOHLQVHGHFRQNPGLYDULDQWHOXQJRODIHUURYLDGD2UEHWHOORD)RQWHEODQGD
103.
GHOOD66$XUHOLDWUD5RVLJQDQRHLYLWDYHFFKLDVHFRQGRLOSURJHWWRGHILQLWLYRSUHVHQWDWR GD$1$6QHOOXJOLRSHUOD9DOXWD]LRQHGL,PSDWWR$PELHQWDOH 1HJOLLQFRQWULWHQXWLD*URVVHWRLOH/XJOLRHLO6HWWHPEUHVRQRVWDWLDSSURIRQGLWLLWUDFFLDWLHOHLSRWHVLGLSHGDJJLDPHQWRGHOO¶LQIUDVWUXWWXUDPHQWUHqVWDWDHVFOXVRLO SRWHQ]LDPHQWRLQVHGHGHOODWUDWWD*URVVHWR5RVLJQDQRVXFXLF¶qXQDFRPXQHFRQGLYLVLRQHGHOOHVROX]LRQLSURSRVWH ,O3DWWRSHUOD0DUHPPDSUHYHGHYDLQIDWWL ³1HOO¶HVSOHWDPHQWRGHOSURFHGLPHQWRGLDSSURYD]LRQHGHOSURJHWWRSUHOLPLQDUHHGHILQLWLYROD5HJLRQHVLLPSHJQDDIDUVLFDULFRQHLFRQIURQWLGHO*RYHUQRHGHJOLXIILFLGHL0LQLVWHUL FRPSHWHQWLDIILQFKq
QHOODYDOXWD]LRQHGHOODGRFXPHQWD]LRQHSUHVHQWDWDDLVHQVLGLOHJJHGDOSURSRQHQWHVWXGLRGLLPSDWWRDPELHQWDOHTXDGURSURJUDPPDWLFRTXDGURSURJHWWXDOH
104.
VLDWHQXWRFRQWR
GHOOD LPSUHVFLQGLELOLWj GL XQ HVDXULHQWH HVDPH FRPSDUDWLYR WUD OH YDULH DOWHUQDWLYH D SDUWLUH GDO SURJHWWR $1$6 ULYLVWR VXOOD EDVH GHOOH QXRYH QRUPH WHFQLFKH FRPSUHVL JOL LQWHUYHQWLGLFROOHJDPHQWRFRQLSRUWLHFRQO LQGLYLGXD]LRQHGLIRUPHGLSHGDJJLRWHVHDOULHTXLOLEULRPRGDOH QHOODSURFHGXUDGL9,$VLDJDUDQWLWRO¶DFFHVVRDLGRFXPHQWLHODSDUWHFLSD]LRQHGHLFLWWDGLQLHGHOOH$VVRFLD]LRQLDLILQLGHOODSUHVHQWD]LRQHGLVSHFLILFKHRVVHUYD]LRQLQHOOHIDVLGL DSSURYD]LRQHGHOSURJHWWRSUHOLPLQDUHHGHOSURJHWWRGHILQLWLYR´ /D 5HJLRQH KD ULEDGLWR OD SURSRVWD GL DXWRVWUDGD 7LUUHQLFD SUHVHQWDWD DG $OEHUHVH DG 2WWREUH GHO H DSSURIRQGLWD LQ TXHVWL PHVL FKH FRVWLWXLVFH D VXR DYYLVR O¶XQLFR DGHJXDPHQWRSRVVLELOHGHOSURJHWWR$1$6DOODQXRYDQRUPDWLYDWHFQLFDDXWRVWUDGDOHULVSHWWRDOODTXDOHQRQqGLVSRVWDDFKLHGHUHGHURJKH/DVFHOWDDXWRVWUDGDOHqVWDWDGHOUHVWR ULEDGLWDSXEEOLFDPHQWHLQTXHVWLPHVLSLYROWHVLDGDOO¶$VVHVVRUHDL7UDVSRUWLFKHGDO3UHVLGHQWH5HJLRQDOH 6FRSR GHO WDYROR GL FRQIURQWR DSHUWR FRQ OD VRWWRVFUL]LRQH GHO 3DWWR GHOOD 0DUHPPD HUD GXQTXH TXHOOR GL FRQIURQWDUH OH GLYHUVH SRVL]LRQL H VROX]LRQL SURJHWWXDOL D SDUWLUH GDOOD PRWLYD]LRQHHVVHQ]LDOHSUHVHQWDWDGDOOD5HJLRQHGHOODLPSUDWLFDELOLWjGHOSURJHWWR$1$6 'LDOFXQHUDJLRQLSUHVHQWDWHLQSDVVDWRGDOOD5HJLRQHDVRVWHJQRGLTXHVWDLPSUDWLFDELOLWjSDUHDQRLFKHRUPDLVLDVWDWDVXIILFLHQWHPHQWHFKLDULWDO¶LQFRQVLVWHQ]DWDQWRGDSRWHUOH HVFOXGHUHRUPDLGDOGLEDWWLWRFLULIHULDPRD 15
105.
ODTXHVWLRQHGHLFRVWLDPSLDPHQWHFKLDULWDLOSURJHWWRGLDXWRVWUDGDFRVWLHUDKDRQHULSHUOR6WDWRVLJQLILFDWLYDPHQWHVXSHULRULULVSHWWRDOSURJHWWR$1$6DQFKHQHOO¶LSRWHVLGL
DGHJXDPHQWR DOOH QXRYH QRUPDWLYH DSSHQD VL WHQJD FRQWR GHOOH RSHUH FRPSODQDUL GHOOH SDUWL LQ YDULDQWH H GHO PDL GHILQLWR H DFFHUWDWR PD FRPXQTXH OLPLWDWR DSSRUWR GHO SURMHFW ILQDQFLQJ YHGDVL DQFKH LO UHFHQWH VWXGLR GHOO¶8QLYHUVLWj DWWROLFD H GHO 3ROLWHFQLFR GL 0LODQR FKH GLPRVWUD OD QRQ HFRQRPLFLWj GL DOFXQH JUDQGL RSHUH IUD OH TXDOL LO SUROXQJDPHQWRGHOO¶DXWRVWUDGD$GDHFLQDDLYLWDYHFFKLD
106.
LOYLQFRORHXURSHRVHPSOLFHPHQWHQRQHVLVWHFRPHDPSLDPHQWHFKLDULWRGDOODRPPLVVLRQH 5HVWDYDGXQTXHO¶HVDPHGLPHULWRGHOSURJHWWR$1$6RSLSUHFLVDPHQWHGLTXHLSXQWLFKHOD5HJLRQHULWLHQH³FULWLFL´ $TXHVWRHVDPHVRQRVWDWLGHGLFDWLJOLLQFRQWULFLWDWLHGLQSDUWLFRODUHTXHOORGHOVHWWHPEUH /¶HVDPHGHOOHDOWHUQDWLYH ,QPHULWRDOODFRPSDUD]LRQHWUDOHYDULHLSRWHVLQHOODOHWWHUDGHORWWREUHYHQLYDSUHFLVDWRTXDQWRHVSRVWRTXLGLVHJXLWR 3HUTXDQWRULJXDUGDLOWUDFFLDWROHFULWLFKHGHOOD5HJLRQHDOSURJHWWR$1$6KDQQRPRWLYD]LRQLGLIIHUHQWLQHOOHGLYHUVHDUHHDWWUDYHUVDWH •
WUD*URVVHWRH)RQWHEODQGDLOWUDFFLDWR$1$6FKHSDVVDVXOODVHGHGHOO¶$XUHOLDqUHDOL]]DELOHPDYLHQHSUHIHULWDXQDVROX]LRQHLQYDULDQWHSDUDOOHODDOODIHUURYLDWUDVIRUPDQGR O¶$XUHOLD LQ FRPSODQDUH SHUFKp GLUHWWDPHQWH D VHUYL]LR GHJOL LQVHGLDPHQWL LVRODWL DL PDUJLQL /¶LPSDWWR PDJJLRUH GHOOD VROX]LRQH $1$6 GLSHQGHUHEEH GDOOD UHDOL]]D]LRQH GL QXPHURVLVRWWRSDVVL1HOFRUVRGHOOHULXQLRQLVLqLQYHFHWURYDWDXQDFRPXQDQ]DGLYHGXWHULVSHWWRDOODVROX]LRQHVFHOWDLQYDULDQWHSXQWXDOHDROOHFFKLRHGLLQWHUUDPHQWRQHO SDVVDJJLRD5LVSHVFLDSHUHYLWDUHO¶LPSDWWRVXOO¶DELWDWRHVLVWHQWH • WUD)RQWHEODQGDH/D7RUEDLOWUDFFLDWR$1$6FRP¶qQRWRULVXOWDLQYDULDQWHSHUFKLORPHWULHDWWUDYHUVDWHUULWRULDELWDWL/HFULWLFKHGHOOD5HJLRQHVRQRGLYHUVH$)RQWHEODQGD ULJXDUGDQRJOLVEDQFDPHQWLQHFHVVDULSHUUHDOL]]DUHXQDVROX]LRQHLQFRQIRUPLWjDOODQRUPDWLYDGLVLFXUH]]DHODOLPLWDWH]]DGHJOLVSD]LSHUODYLDELOLWjFRPSODQDUH1HOSDVVDJJLR LQSLDQXUDSHUODSUHVXQWDLQVWDELOLWjGHLWHUUHQLDLPDUJLQLGHOODIHUURYLDHSHULOLPLWLSRVWLDOOHSUHYLVLRQLDUWLJLDQDOLHLQGXVWULDOLGL$OELQLD$G2UEHWHOORSHUO¶LPSDWWRQHOOHDUHH DUWLJLDQDOL H SHU L ULVFKL OHJDWL DOOD IDOGD QHO SDVVDJJLR SURSRVWR GDOOH $VVRFLD]LRQL DPELHQWDOLVWH LQ JDOOHULD DG 2UEHWHOOR $G $QVHGRQLD SHU JOL VEDQFDPHQWL QHFHVVDUL H SHU L SUREOHPLGLUHDOL]]D]LRQHGHOODYLDELOLWjFRPSODQDUH • WUD/D7RUEDHLOFRQILQHFRQLO/D]LRLOWUDFFLDWR$1$6FRUUHVXOO¶DWWXDOH$XUHOLDFRQGXHSXQWXDOLWUDWWLLQYDULDQWHD/D7RUEDHKLDURQH4XHVWDVROX]LRQHYLHQHFULWLFDWDGDOOD 5HJLRQHFRQODPRWLYD]LRQHFKHGHEEDHVVHUHVDOYDJXDUGDWDO¶LGHQWLWjVWRULFDGHOO¶$XUHOLDSURSRQHQGRSHUTXHVWRXQDVROX]LRQHDXWRVWUDGDOHLQYDULDQWHSDUDOOHODDOO¶$XUHOLDFKH YHUUHEEHULTXDOLILFDWDHDOEHUDWDQHOOHWUDWWHRJJLVHQ]DSLQLPHGLWHUUDQHL 1HL WUH LQFRQWUL D IURQWH GHOOH PRWLYD]LRQL DGGRWWH GDOOD 5HJLRQH GD SDUWH QRVWUD VRQR VWDWL HYLGHQ]LDWL SHU RJQL WUDWWD JOL LPSDWWL GHOOD VROX]LRQH $1$6 PHVVL D FRQIURQWR FRQ LO SURJHWWRGLDXWRVWUDGDFRVWLHUDUHJLRQDOHHVRQRVWDWHLQGLFDWHOHVROX]LRQLSRVVLELOL • WUD*URVVHWRH)RQWHEODQGDO¶$XUHOLDKDJLjRJJLXQDVH]LRQHGLPHWULHGqGXQTXHIDFLOPHQWHDGHJXDELOHPHQWUHODYLDELOLWjFRPSODQDUHDYUHEEHPLQRUHLPSDWWRVHSDUDOOHOD DOODIHUURYLDFRQDOFXQLVRWWRSDVVLGLFROOHJDPHQWRGHJOLLQVHGLDPHQWLVXOODWRLQWHUQR8QDVROX]LRQHFKHHYLWHUHEEHODGHPROL]LRQHGLGLYHUVHFDVHFRPHDYYHUUHEEHLQYHFHFRQ ODSURSRVWDGHOOD5HJLRQH'HOO¶DFFRUGRWURYDWRSHUOHVROX]LRQLGLROOHFFKLRH5LVSHVFLDVLqJLjGHWWR • WUD )RQWHEODQGD H /D 7RUED SDVVDJJL LQ YDULDQWH VRQR FHUWDPHQWH LQHYLWDELOL 0D q DVVROXWDPHQWH HYLGHQWH O¶LPSDWWR GHYDVWDQWH FKH DYUHEEH OD VROX]LRQH SURSRVWD GDOOD 5HJLRQHVXOOHD]LHQGHDJULFROHELRORJLFKHHFRQYHQ]LRQDOLSUHVHQWLXQDUHFHQWHOHWWHUDGHOSURSULHWDULRGHOO¶$]LHQGD³/D6HOYD´DQQXQFLDODFKLXVXUDLQFDVRGLUHDOL]]D]LRQHGHO SURJHWWRUHJLRQDOH
107.
VXOSDHVDJJLRFKHGDOODSLDQDVLHVWHQGHYHUVR0DJOLDQRLQ7RVFDQDFRQXQYLDGRWWRGLDOFXQLFKLORPHWULFKHQHFKLXGHUHEEHODYLVXDOH
108.
VXOOHFROOLQHDQFRUD
LQWHJUHGRYHODIDOGDqDOPHQRDOWUHWWDQWRGHOLFDWDFKHDG2UEHWHOOR
109.
1HJOLLQFRQWULHGLQSDUWLFRODUHQHOO¶XOWLPRVLqLQYHFHYHULILFDWRFKHqSRVVLELOHUHDOL]]DUHLOSURJHWWR$1$6DGHJXDQGRORDOOHFDUDWWHULVWLFKHGLVH]LRQHSLDPSLHVFHOWHHVHQ]D
GHURJKH ULVSHWWR DOOH QRUPDWLYH LQ SDUWLFRODUH DG HVHPSLR D )RQWHEODQGD
110.
ULFRUUHQGR D JDOOHULD
FRSHUWD 3HU TXDQWR ULJXDUGD $OELQLD VL ULEDGLVFH FKH LO ESDVV SUHYLVWR QHO SURJHWWRGHILQLWLYR$1$6SXzHVVHUHIXQ]LRQDOHHQRQqLQFRQWUDGGL]LRQHFRQODVYLOXSSRGHOOHDUHHGLVYLOXSSRDUWLJLDQDOHHLQGXVWULDOH6LULWHQJRQRLQILQHQHFHVVDULDOFXQL DSSURIRQGLPHQWLHPRGLILFKHQHOOHWUDWWHSLFRPSOHVVHGL)RQWHEODQGD2UEHWHOOR$QVHGRQLD WUD /D 7RUED H LO FRQILQH FRQ LO /D]LR OD VROX]LRQH SURSRVWD GDOOD 5HJLRQH SUHYHGH OD GHPROL]LRQH GL GLYHUVH FDVH ROWUH FKH GHO UHFHQWH VYLQFROR FRQ VRYUDSSDVVR GL DSDOELR PHQWUH UHQGHUHEEH O¶$XUHOLD XQD VWUDGD 3DUFR FLUFRQGDWD GD XQ ODWR GDOO¶$XWRVWUDGD H FRQ LQWRUQR L GLYHUVL GLVWULEXWRUL GL EHQ]LQD H $XWRJULOO VRUWL QHJOL XOWLPL DQQL $QFKH SHU TXHVWDWUDWWDVRQRVWDWLSURSRVWLLSRVVLELOLLQWHUYHQWLLQVHGHGHOO¶$XUHOLDFKHSHUPHWWRQRGLDGHJXDUHO¶RSHUDDOODQRUPDWLYD 16
111.
/¶DOWUR DVSHWWR VRVWDQ]LDOH
GHO FRQIURQWR ULJXDUGD LO UXROR FKH VL DVVHJQD DOOD YLDELOLWj FRPSODQDUH GD TXHVWRUXROR GLSHQGRQR RYYLDPHQWH OH FDUDWWHULVWLFKH GL WDOH YLDELOLWj H SHU FRQWUR WDOH UXROR q FROOHJDWR FRQ OH PRGDOLWj GHO SHGDJJLDPHQWR (¶ QRVWUD FRQYLQ]LRQH FKH HVLVWH XQ¶DOWHUQDWLYD DO SHGDJJLR SUHYLVWR GDOOD 5HJLRQH LQ ³FKLXVR´ WUD *URVVHWR H LYLWDYHFFKLD(¶VWDWDLQIDWWL HYLGHQ]LDWDODSRVVLELOLWjGLXQDVROX]LRQHDQDORJDDTXHOODSUHYLVWDWUD5RVLJQDQRH*URVVHWRFRQSHGDJJLRDSHUWRHEDUULHUHVDUHEEHURROWUHFKHD )ROORQLFD H *URVVHWR 5LVSHVFLD FRPH JLj SUHYLVWR DO RQILQH WUD /D]LR H 7RVFDQD
112.
8QD VROX]LRQH FKH
HYLGHQWHPHQWH SRUWHUHEEH D WRUQDUH VXOOD VROX]LRQH GL VYLQFROL SUHYLVWD GDO SURJHWWR$1$6DIURQWHGHLSUHYLVWLGDOO¶$XWRVWUDGDGHOOD5HJLRQHHDLHVLVWHQWL
113.
,QTXHVWDLSRWHVLqHYLGHQWHFKHODYLDELOLWjFRPSODQDUHDYUHEEHXQUXRORDVVROXWDPHQWHPDUJLQDOHHORFDOHHTXLQGLGLPLQXLUHEEHURLFRVWLFRPSOHVVLYLHO¶RFFXSD]LRQHGLWHUULWRULR 0DGREELDPRULOHYDUHFKHSURSULRVXOUXRORGHOODYLDELOLWjFRPSODQDUHVRQRVWDWLHYLGHQ]LDWLSXQWLGLYLVWDPROWRGLVWDQWL 1HOO¶LSRWHVLGHOOD5HJLRQHODYLDELOLWjFRPSODQDUHGDPHWULqXQDUHDOHDOWHUQDWLYDDLSHUFRUVLGLOXQJDSHUFRUUHQ]DVHSSXUHFRQXQDGLVVXDVLRQHHIIHWWXDWDGDURWDWRULHSRVWH OXQJRLOSHUFRUVR 1HOSURJHWWR$1$6LQYHFHLOSXQWRGLYLVWDGLSDUWHQ]DqXQDOWURWXWWRLOWUDIILFRQD]LRQDOHHLQWHUFRPXQDOHGLPHGLDGLVWDQ]DGHYHHVVHUHLQGLUL]]DWRVXOO¶$XUHOLDDGHJXDWD0HQWUHD XQD YLDELOLWj FRPSODQDUH
GD PHWUL VSHWWD GL ULFXFLUH JOL VSRVWDPHQWL ORFDOL FKH RJJL IDQQR ULIHULPHQWR DOO¶$XUHOLD 3HU HVHPSLR WUD /D 7RUED H KLDURQH QRQ YLHQH SUHYLVWD XQD YLDELOLWj FRPSODQDUH PD FROOHJDPHQWL WUDVYHUVDOL FKH FROOHJDQR OD 3HGHPRQWDQD H L FHQWUL LQWHUQL FRQ OD OLWRUDQHD H JOL LQVHGLDPHQWL FRVWLHUL DWWUDYHUVR JOL VYLQFROL SUHYLVWL D KLDURQHDSDOELRH$QVHGRQLDDIURQWHGHOVRORVYLQFRORGLDSDOELR6FDORSUHYLVWRGDOOD5HJLRQH
114.
(¶VWDWRHYLGHQ]LDWRGDSDUWHQRVWUDQHJOLLQFRQWULFRPHXQDVROX]LRQHGLTXHVWR WLSR DYUHEEH O¶HIIHWWRGL
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±GRSRDYHUORVRVWHQXWRLQSDVVDWRLQSDUWLFRODUHFRQO¶DFFRUGR GHOGLFHPEUH±HUDEDVDWRGDXQODWRVXOODQHFHVVLWjGLRSSRUUHDOOHVFHOWHGHOJRYHUQRLQVHGHGLFRQIURQWRWHFQLFRLVWLWX]LRQDOHVHFRQGRO¶LWHUSUHYLVWRGDOOD/HJJH2ELHWWLYR
115.
XQDVROX]LRQHDXWRVWUDGDOHULWHQXWD³DPLQRULPSDWWR´GDOO¶DOWURVXOODSUHVXQWDQRQUHDOL]]DELOLWjGHOSURJHWWR$1$6 7DOL PRWLYD]LRQL KDQQR
RUD D QRVWUR DYYLVR SHUVR IRQGDPHQWR ,QQDQ]L WXWWR SHUFKp VRQR FDPELDWH OH FRQGL]LRQL DO FRQWRUQR /R VFHQDULR HFRQRPLFR QD]LRQDOH KD IDWWR SHUGHUH FUHGLELOLWjDOO¶LSRWHVLFROOLQDUHSURSRVWDGDO0LQLVWUR/XQDUGLPDDQFKHSHUODUHFHQWHVHQWHQ]DGHOODRUWHRVWLWX]LRQDOHFKHKDGDWRUDJLRQHDOOD5HJLRQH7RVFDQDQHOUXRORGHOOD VWHVVD DOO¶LQWHUQR GHOO¶LQWHVD LVWLWX]LRQDOH ULVSHWWR DOOD VFHOWD LQIUDVWUXWWXUDOH H DOOD ORFDOL]]D]LRQH 4XDQWR DO SURJHWWR $1$6 D VHJXLWR GHOO¶HVDPH VYROWR DSSDUH FRQIRUPH DL IDWWL DIIHUPDUHFKHHVVRPDQWLHQHODVXDIDWWLELOLWjROWUHDSUHVHQWDUHLPLQRULFRVWLDPELHQWDOLHILQDQ]LDUL $QRVWURDYYLVRGXQTXHOD5HJLRQHKDSLHQRGLULWWRGLVRVWHQHUHQHLFRQIURQWLGHO*RYHUQRFKHRJQLGHFLVLRQHQRQSXzDTXHVWRSXQWRSUHVFLQGHUHGDFHUWH]]HULVSHWWRDLUHDOLIRQGL DGLVSRVL]LRQHHTXLQGLGDXQFRQIURQWRVHULRWUDOHGLYHUVHLSRWHVLFRQLULVSHWWLYLFRVWLSHUOR6WDWRDSDUWLUHGDOSURJHWWR$1$67DOHSURJHWWRSXzHVVHUHPLJOLRUDWRDQFKHVHFRQGR OHLQGLFD]LRQLXVFLWHGDJOLLQFRQWULGHO3DWWRSHUOD0DUHPPDVWXGLDQGRLQROWUHXQDVROX]LRQHJUDGXDOHQHOWHPSRFKHSDUWDGDOOHHVLJHQ]HLPSURURJDELOLGLVLFXUH]]DQHLWUDWWLDQFRUD DGXHFRUVLHGDOODQRQXUJHQ]DGHOO¶LQWHUYHQWRQHOWUDWWRWUD*URVVHWRH5RVLJQDQRGDOODGHOLFDWH]]DGHLSDHVDJJLDWWUDYHUVDWLGDORUULGRLR7LUUHQLFR 3HUTXHVWLPRWLYLOH$VVRFLD]LRQL$PELHQWDOLVWHHLFRPLWDWLORFDOLULWHQJRQRHVDXULWDO¶HVSHULHQ]DGHO3DWWRSHUOD0DUHPPD6RORLQSUHVHQ]DGLXQDFKLDUDSURVSHWWLYDFRPHVRSUD LQGLFDWD DYUHEEH VHQVR FRQWLQXDUH LO FRQIURQWR FRQ OD 5HJLRQH 7RVFDQD H JOL DOWUL (QWL LQWHUHVVDWL LQ WXWWH OH VHGL H RFFDVLRQL WHFQLFKH H LVWLWX]LRQDOL /H $VVRFLD]LRQL VL ULVHUYDQR DOWUHVuGLLQWHUYHQLUHQHOOHVHGLSUHYLVWHGDOODSURFHGXUD9,$SHUOHFRVLGGHWWHRSHUHVWUDWHJLFKH /DQRWDHUDILUPDWDGD'HVLGHULD3DVROLQL'DOO¶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j GHOOD 6H]LRQH GL *URVVHWR GL ,WDOLD 1RVWUD 2QOXV (GRDUGR =DQFKLQL UHVSRQVDELOH7UDVSRUWL/HJDPELHQWH2QOXV 1 Naturalmente con le stesse caratteristiche di svincoli con pedaggio nelle uscite immediatamente successiva e precedente. 17
116.
21(66,21,02/72',687,%,/,
GL$QQD'RQDWLHVSHUWDGLSROLWLFDGHLWUDVSRUWLFDSRJUXSSR9HUGLLQRPPLVVLRQH//33GHO6HQDWR ,QPROWLVLDPRULPDVWLLQFUHGXOLGDYDQWLDOWHOHYLVRUHTXDQGRDOFXQLPHVLIDQHOFRQVXHWRVDORWWRGL%UXQR9HVSDDEELDPRVHQWLWRLOSUHVLGHQWHGHORQVLJOLRDIIHUPDUHFKHOXQJRLO FRUULGRLR WLUUHQLFR VDUHEEHUR JLj DSHUWL TXD H Oj FDQWLHUL H FKH L ODYRUL GHOO DXWRVWUDGD VWDUHEEHUR SURFHGHQGR VHFRQGR OD WDEHOOD GL PDUFLD JRYHUQDWLYD 'LFKLDUD]LRQL GDYYHUR VWXSHIDFHQWLTXHOOHGL%HUOXVFRQLFRQVLGHUDWRFKHDQFRUDRJJLqLQFRUVRXQVHUUDWREUDFFLRGLIHUURIUDJRYHUQRHUHJLRQHSHUGHFLGHUHG LQWHVDIUDO RS]LRQHSURJHWWXDOHLQWHUQDH TXHOOD FRVWLHUD ,QVRPPD LO WUDFFLDWR DO PRPHQWR DQFRUD QRQ F q ( OR KD ULGDGLWR OR VWHVVR SUHVLGHQWH GHOOD 5HJLRQH 7RVFDQD ODXGLR 0DUWLQL FKH GRSR OD PDFURVFRSLFD EXIDOD ULYHQGXWDLQGLUHWWDD3RUWDD3RUWDVLqSUHVRODEULJDGLUHWWLILFDUHO DQQXQFLRGHOSUHVLGHQWH%HUOXVFRQLLQSLHQDFDPSDJQDHOHWWRUDOH ,O SURJHWWR DXWRVWUDGDOH /LYRUQRLYLWDYHFFKLD FKH q RSSRUWXQR ULFRUGDUOR QHO QRQ DYHYD RWWHQXWR LO SDUHUH SRVLWLYR GL FRPSDWLELOLWj DPELHQWDOH GD SDUWH GHO PLQLVWHUR GHOO $PELHQWH q VWDWR LQVHULWR GDO JRYHUQR %HUOXVFRQL QHOO HOHQFR GHOOH RSHUH VWUDWHJLFKH LQGLFDWH QHOOD GHOLEHUD LSH GLFHPEUH 8QD FRUVLD SUHIHUHQ]LDOH JUD]LH DOOH SURFHGXUHDFFHOHUDWHSUHYLVWHGDOODOHJJH2ELHWWLYR / LQVHULPHQWR GHO SURJHWWR IUD JOL LQWHUYHQWL LQIUDVWUXWWXUDOL SULRULWDUL QRQRVWDQWH OD VRVSHQVLRQH GHOO RSHUD FKH LO 3DUODPHQWR DYHYD YRWDWR QHO /D OHJJH DUW FRPPD
117.
VDQFLYDLQIDWWLODVRVSHQVLRQHGHOODUHDOL]]D]LRQHGHOODWUDWWDHFLQDLYLWDYHFFKLDQRQUHDOL]]DWDGDOOD6DWHFRQWXHVWXDOPHQWHLQQDO]DYDGDODOLOFRQWULEXWR GHOOR6WDWRSHUODSULPDWUDWWDUHDOL]]DWDGHOOD/LYRUQR5RVLJQDQR RPHHIIHWWR FRQFUHWR DTXHVWD
QRUPD OD 6DW KD SUHWHVRXQ ULVDUFLPHQWRSHU ULSLDQDUHXQ SUHVXQWRGLVHTXLOLEULR HFRQRPLFR HILQDQ]LDULR GHOOD VRFLHWj D FDXVD GHOOD VRVSHQVLRQH GHOOHWUDWWHHGLFRQVHJXHQWLPDQFDWLLQWURLWLWDULIIDUL8QULVDUFLPHQWRRWWHQXWRJUD]LHDGXQ$FFRUGRWUDQVDWWLYRJLXJQR
118.
LQYLUWXGHOTXDOHO $QDVKDYHUVDWRDOOD6DWXQD VRPPDFRPSOHVVLYDGLPLOLDUGLGLYHFFKLHOLUHQRQRVWDQWHQHOORVWHVVRDFFRUGRWUDQVDWWLYRVLLQGLFDYDFKHOD6DWVLLPSHJQDYDDQRQULYHQGLFDUHULFKLHVWDGLULVDUFLPHQWRDG DOFXQ WLWROR RQ
TXHVWR $FFRUGR $QDV6DW VRWWRVFULWWR VHQ]D XQD DSSURYD]LRQH GD SDUWH GHL PLQLVWHUL FRPSHWHQWL VL FRQIHUPDYD OD 6DW FRPH XQLFD WLWRODUH GHOOD FRQFHVVLRQHGL FRVWUX]LRQH H JHVWLRQH GHOOD /LYRUQR LYLWDYHFFKLD IHUPR UHVWDQGR FKH OD UHDOL]]D]LRQH GHOOH WUDWWH HFLQD 5RVLJQDQR 0DULWWLPR
119.
LYLWDYHFFKLD TXDOXQTXH
SRVVD HVVHUH OD VROX]LRQHSURJHWWXDOHYLHQHVRVSHVD / DQQRVXFFHVVLYRRWWREUH
120.
qVWDWDVLJODWDXQDQXRYDRQYHQ]LRQH$QDV6DWFKHGLVFLSOLQDYDO HVHUFL]LRGHOODWUDWWDDSHUWDDOWUDIILFRQHO /LYRUQRHFLQDGLNP
121.
H ULQYLDYDDGXQVXFFHVVLYRDWWRDJJLXQWLYRODUHJRODPHQWD]LRQHFRQYHQ]LRQDOHGHOODFRVWUX]LRQHHGHVHUFL]LRGHOOHGXHWUDWWHHFLQD*URVVHWRH*URVVHWRLYLWDYHFFKLD 1HOODVXDUHOD]LRQHDO3DUODPHQWRVXOODJHVWLRQHILQDQ]LDULDGHOO $QDVODRUWHGHLRQWLKDFHQVXUDWRLOFRPSRUWDPHQWRGHOO $QDVVXOOD6DWYDOXWDQGRORQRQFRQYLQFHQWH DYHQGRDVVHQWLWRDOODFRQFHVVLRQHVHQ]DLOSUHYHQWLYRFRQVHQVRGHOO $XWRULWjDELOLWDWRDGHVSULPHUVLVXOWUDFFLDWRDXWRVWUDGDOHSURYYHGHQGRFRVuLQGDWDGLFHPEUHDOODVXD SURURJDILQRDOGHOODGXUDWDGHOODFRQFHVVLRQH RQVLGHUDWDTXLQGLODGHFLVLRQHGHO3DUODPHQWRGLVRVSHQGHUHODUHDOL]]D]LRQHGHOO RSHUDDSSDUHLOOHJLWWLPDQHJOLDWWLGHOO $QDVDFFRUGRWUDQVDWWLYRGHOHQXRYDRQYHQ]LRQH
Descargar ahora