El Extraño Caso Del Dr. Jekyll y Mr. Hyde (Cut)
El Extraño Caso Del Dr. Jekyll y Mr. Hyde (Cut)
2/41
PELWRKLVW³ULFRGH6WHYHQVRQ
5REHUW /RXLV 6WHYHQVRQ QDFL³ HQ HQ (GLPEXUJR XQ D±R DQWHV GH OD
*UDQ ([SRVLFL³Q 8QLYHUVDO GH /RQGUHV &XDQGR ©VWD VH LQDXJXU³ HQ VXV
SDEHOORQHV VH SXGLHURQ DGPLUDU ORV SULQFLSDOHV GHVFXEULPLHQWRV LQYHQWRV \
PDTXLQDULDVTXHKDEDQKHFKRSRVLEOHOD3ULPHUD5HYROXFL³Q,QGXVWULDOP¡VXQ
DQWLFLSRGHODTXHOOHJDUDDVHUODVHJXQGD\DHQJHVWDFL³Q$OOVHFRQFHQWUDED
WRGD OD WHFQRORJD GH OD ©SRFD DGHP¡V GH OR TXH VH FRQVLGHUDED GLJQR GH
PRVWUDUGHODVFLHQFLDV\GHODVDUWHV
&RQ OD UHLQD 9LFWRULD D OD FDEH]D ,QJODWHUUD LQLFLDED ODV G©FDGDV TXH VHUDQ
FRQVLGHUDGDVFRPROD©SRFDGHRURGHOSHULRGRYLFWRULDQR
-XQWR DO RSWLPLVPR \ D OD VDWLVIDFFL³Q GH SHUWHQHFHU D XQ LPSHULR TXH VH
KDOODED ߡD OD YDQJXDUGLD GH OD FLYLOL]DFL³Qߢ ORV LQJOHVHV FXOWLYDEDQ DOJXQRV
K¡ELWRVTXHVHWUDQVIRUPDURQHQVPERORVGHODPRUDOYLFWRULDQDODKRQHVWLGDG\
ODODERULRVLGDGHOJXDUGDUDWRGDFRVWDODVDSDULHQFLDVFLHUWDVROHPQHVHULHGDG
\XQDKLS³FULWDPRMLJDWHUDHQWRGRORUHODFLRQDGRFRQHOVH[R
/D SURVSHULGDG PDWHULDO QR WDUG³ HQ VHU DVRFLDGD D OD KRQHVWLGDG \ D OD
ODERULRVLGDG
(VWDUJLGDPRUDO\HVWDIDOWDGHVROWXUD\GHVHQWLGRGHOKXPRUQRHVFDS³DOD
PRUGDFLGDG GH ORV SULQFLSDOHV HVFULWRUHV YLFWRULDQRV &KDUOHV 'LFNHQV +*
:HOOV/HZLV&DUURO\%HUQDUG6KDZHQWUHRWURVODVDWLUL]DURQ\FRPEDWLHURQHQ
YDULDVGHVXVREUDV
(UD O³JLFR TXH XQ KRPEUH HQIHUPL]R \ VHQVLEOH FRPR 6WHYHQVRQ \
GHVFRQWHQWRVLHPSUHGHVPLVPRQRSXGLHUDKDOODUVHDJXVWRQLHQHOIURFOLPD
GH VX (VFRFLD QDWDO QL HQ XQ DPELHQWH PRUDO WDQ GLVWLQWR DO GH VX HVWUXFWXUD
VLFRO³JLFD
/DGLIFLOMXYHQWXG
'HVGH QL±R 6WHYHQVRQ VH DFRVWXPEU³ D HVWDU HQIHUPR 3DVDED ODV QRFKHV
HQYHOD\VXIUDDJRWDGRUHVDFFHVRVGHWRV7HUULEOHVSHVDGLOODVߙDOJXQDVGHODV
FXDOHVDSDUHFHUDQP¡VWDUGHHQVXVUHODWRVߙOHOOHQDEDQGHHVSDQWR6³ORWHQD
HO FRQVXHOR GH ORV FXLGDGRV GH $OLVRQ &XQQLJKDP VX QXUVH D OD TXH
FRQVLGHUDEDFRPRVXߡVHJXQGDPDGUHߢ
3HVHDHVWDQDWXUDOH]DG©ELO\VHQVLEOHHVWXGL³'HUHFKRHQVXFLXGDGQDWDO
(QߙDORVYHLQWHD±RVGHHGDGߙVXIUL³XQDJUDYHDIHFFL³QUHVSLUDWRULDTXH
FDVL OH PDWD (QWUHWDQWR KDED HPSH]DGR D HVFULELU DUWFXORV TXH HQYLDED D
GLYHUVDVUHYLVWDVORQGLQHQVHV
'HFLGLGRDVDQDU\DGHGLFDUVHDHVFULELU6WHYHQVRQVHWUDVODGDHQDOD
5LYLHUD IUDQFHVD 7UHV D±RV P¡V WDUGH HQ )RQWDLQHEOHDX FRQRFHUD D TXLHQ
OOHJDUDDVHUVXPXMHU)DQQ\2VERXUQH
6XVREUDV
(Q 6WHYHQVRQ SXEOLFD VX SULPHUD REUD 9LDMH WLHUUD DGHQWUR ,QODQG
9R\DJH (QHOODQDUUDXQYLDMHHQFDQRDSRU)UDQFLDH,QJODWHUUD/DIDQWDVD\
ODH[FHQWULFLGDGTXHHVWDUDQSUHVHQWHVHQFDVLWRGRVVXVOLEURVDSDUHFHQ\DHQ
©VWH
/HVLJXHXQD±RGHVSX©V 9LDMHVHQEXUURSRUODV&©YHQQHV 7UDYHOVZLWKD
'RQNH\ LQ WKH &©YHQQHV GRQGH GHVFULEH FRQ KXPRU D DOJXQRV GH ORV
SLQWRUHVFRVKDELWDQWHVGHHVWDFDGHQDPRQWD±RVDIUDQFHVD1RKD\TXHROYLGDU
TXHDPHGLDGRVGHOVLJOR;,;ORVOLEURVGHYLDMHFRQVWLWXDQODSULQFLSDOIRUPDGH
GDUDFRQRFHUODJHRJUDID\ODLGLRVLQFUDFLDGHODJHQWHGHORVGLVWLQWRVSDVHV
(Q DTXHO PLVPR D±R 6WHYHQVRQ YLDMD D &DOLIRUQLD HQ EXVFD GH )DQQ\
2VERXUQH FRQ OD TXH ILQDOPHQWH VH FDVD )DQQ\ DGHP¡V GH XQD EXHQD
FRPSD±HUDHVXQDH[LJHQWHFUWLFDGHVXREUD
(QUHJUHVDD(XURSDHLQWHQWDHQFRQWUDUXQOXJDUGRQGHWUDWDUVHGHXQD
WXEHUFXORVLV\DPX\DYDQ]DGD'HDPEXODSRUGLYHUVRVVLWLRVGH6XL]D)UDQFLD\
HO VXU GH ,QJODWHUUD (QWUHWDQWR HVFULEH VX HQVD\R 9LUJLQLEXV 3XHULVTXH TXH
SXEOLFDHQ
'XUDQWH DTXHO YHUDQR GH 6WHYHQVRQ HVFULEH /D LVOD GHO WHVRUR 7KH
7UHDVXUH,VODQG TXHSXEOLFDU¡HQ(QODQRYHODߙTXHVLWºDHQOD©SRFDGH
ORVILOLEXVWHURVߙHOHVFULWRUHQFDUQDU¡DDOJXQRVGHVXVPLHGRV\SHVDGLOODVHQ
VXSURWDJRQLVWDHOMRYHQ-LP+DZNLQV
/D REUD ߙXQD PX\ HQWUHWHQLGD QRYHOD GH DYHQWXUDVߙ HVW¡ PX\ ELHQ
HVWUXFWXUDGD \ VXV SHUVRQDMHV VRQ FRKHUHQWHV FRQ HO FDU¡FWHU \ HO QLYHO GH
HGXFDFL³QTXHWLHQHQ$IRUWXQDGDPHQWH-LPKDWURSH]DGRHQVXGHVDPSDURFRQ
KRPEUHVDXW©QWLFDPHQWHKRQHVWRVFRPRHOGRFWRU/LYHVH\\HOFDSLW¡Q6PROOHW
&RQWUDVWDQ FRQ HOORV ORV UXGRV \ VDQJXLQDULRV -RKQ 6LOYHU (O /DUJR \ 3HUUR
1HJUR
6WHYHQVRQVHHQFXHQWUD\DHQSOHQDHIHUYHVFHQFLDFUHDWLYD<WUDV/DLVODGHO
WHVRUR HVFULEH XQD VHULH GH UHODWRV EUHYHV /DV QXHYDV QRFKHV ¡UDEHV 1HZ
$UDELDQ 1LJKWV TXH SXEOLFDU¡ HQ (Q ©VWRV VH GHVWDFD OR IDQW¡VWLFR \
VREUHQDWXUDO PHGLDQWH XQD QRWDEOH \ PLQXFLRVD FUHDFL³Q GH DWP³VIHUDV \
DPELHQWHV
+DFLD OD HQIHUPHGDG GH 6WHYHQVRQ VH KD DJUDYDGR (O HVFULWRU VH
WUDVODGD D %RXUQHPRXWK XQ EDOQHDULR DO VXU GH ,QJODWHUUD MXQWR DO FDQDO GH OD
0DQFKD
3/41
(GLWDHQWRQFHVODQRYHODTXHORKDU¡IDPRVR (OH[WUD±RFDVRGHO'U-HN\OO\
0U +\GH 7KH 6WUDQJH &DVH RI 'U -HN\OO DQG 0U +\GH (O OLEUR HV XQ
EHVWVHOOHUGHVGHVXSXEOLFDFL³Q
$QJXVWLDGR WDQWR SRU VX HQIHUPHGDG FRPR SRU VX VRPEUD LPDJLQDFL³Q H
LQFDSD]GHSHUPDQHFHUHQXQOXJDUSRUPXFKRWLHPSRGXUDQWH6WHYHQVRQ
YLDMD FRQ VX PXMHU SRU ORV (VWDGRV 8QLGRV < SXEOLFD 0HPRULDV \ UHWUDWRV
0HPRULHVDQG3RUWUDLWV $XQTXHEUHYHVUHFXHUGRVDSDUHQWHPHQWHLQFRQH[RV
©VWRVPXHVWUDQYYLGDPHQWHHSLVRGLRVGHODMXYHQWXGGHOHVFULWRUHQ(VFRFLD
&XDQGR PXHUH VX SDGUH 6WHYHQVRQ URPSH SDUD VLHPSUH FRQ VX SDV QDWDO
6H WUDVODGD D ORV 0DUHV GHO 6XU SRU ORV TXH YLDMD GXUDQWH SDUD
HVWDEOHFHUVH ILQDOPHQWH HQ 9DLOLPD FHUFD GH $SLD OD FDSLWDO GH 6DPRD
2FFLGHQWDO6RQD±RVGHJUDQFUHDWLYLGDGTXHOHWUDQVIRUPDQHQXQDHVSHFLHGH
SHUVRQDMHORFDO
/D REUD P¡V LQWHUHVDQWH GH HVH WLHPSR HV &DUWDV GHVGH 9DLOLPD 9DLOLPD
/HWWHUV (OODVPXHVWUDQDXQQDUUDGRUTXHQRVHOHHVFDSDQLQJºQGHWDOOHGHORV
TXHOHURGHDQ\FX\DYYLGDIDQWDVDVDEHHQYROYHUORVHQXQKDORGHLQWHU©V\
GHPLVWHULR
5HSHQWLQDPHQWHߙHQGLFLHPEUHGHߙ6WHYHQVRQPXHUHGHXQDWDTXHGH
DSRSOHMD7LHQHD±RV\GHMDLQFRQFOXVDXQDQRYHOD:HLURI+HUPLVWRQ
ߡ(OºOWLPRGHORVHVFULWRUHVURP¡QWLFRVߢ
1DFLGR HQ XQ PXQGR HQ TXH WULXQIDED OD LQGXVWULDOL]DFL³Q HO FRPHUFLR \ OD
SURVSHULGDG PDWHULDO 6WHYHQVRQ GHEHUD KDEHU DGRSWDGR FRPR I³UPXOD
OLWHUDULD HO UHDOLVPR TXH XWLOL]DURQ ORV HVFULWRUHV GH VX WLHPSR 3HUR DV FRPR
SDV³ VX YLGD KX\HQGR GHO FOLPD IUR \ EUXPRVR GH VX (VFRFLD QDWDO \
HYDGL©QGRVH GH OD PRUDO UJLGD H KLS³FULWD GH VXV FRPSDWULRWDV PDQWXYR VX
REUD GHQWUR GH OD WHQGHQFLD TXH VH DYHQD PHMRU FRQ VX WHPSHUDPHQWR
DWRUPHQWDGR\IDQWDVLRVRHOURPDQWLFLVPR
8QRGHVXVLOXVWUHVFRQWHPSRU¡QHRV+*:HOOVORFDOLILF³DFHUWDGDPHQWHDO
GHFLUTXHIXHߡHOºOWLPRGHORVHVFULWRUHVURP¡QWLFRVߢGHVXJHQHUDFL³Q
-RV©0DQXHO=D±DUWX
+LVWRULDGHODSXHUWD
(O DERJDGR 0VWHU 8WWHUVRQ HUD XQ KRPEUH DOWR HQMXWR \ VHFR
GH VHPEODQWH DGXVWR TXH MDP¡V VH LOXPLQDED FRQ XQD VRQULVD
SDUFR UHVHUYDGR PHODQF³OLFR \ WRUSH SDUD H[SRQHU VXV
VHQWLPLHQWRV1RREVWDQWHLQVSLUDEDDIHFWR(QODVUHXQLRQHVHQWUH
DPLJRV EHELHQGR XQ YLQR GH VX DJUDGR VXV RMRV LUUDGLDEDQ XQD
SURIXQGD KXPLOGDG TXH QR OOHJDED D UHIOHMDUVH HQ VXV SDODEUDV
DXQTXH V HQ OD H[SUHVL³Q GH VX URVWUR GXUDQWH OD VREUHPHVD \
IUHFXHQWHPHQWHHQVXVDFFLRQHVGLDULDV
&RQVLJR PLVPR HUD PX\ DXVWHUR (VWDQGR VROR ROYLGDED ORV
EXHQRVYLQRV\EHEDJLQHEUD\KDFDYHLQWHD±RVTXHQRDVLVWDD
XQDIXQFL³QGHWHDWURSHVHDVXDILFL³QSRU©VWH3DUDHOSU³MLPR
HQ FDPELR JXDUGDED XQD HQRUPH WROHUDQFLD TXH OR LQFOLQDED D
D\XGDUHQYH]GHFHQVXUDU
ߙ1R FULWLFR OD KHUHMD GH &DQ ߙGHFDߙ FDGD FXDO HV OLEUH GH
GHVWUXLUVHFRPRPHMRUOHSOD]FD
(O FDU¡FWHU GH 0VWHU 8WWHUVRQ OR WUDQVIRUPDED VLHPSUH HQ OD
ºOWLPD DPLVWDG KRQRUDEOH OD EXHQD LQIOXHQFLD SRVWUHUD HQ ODV
H[LVWHQFLDV GH ORV TXH DYDQ]DEDQ SRU HO FDPLQR GH OD SHUGLFL³Q
7DO FRPSRUWDPLHQWR QR HUD GLIFLO SDUD ©O FRQVLGHUDQGR TXH
EDVDED OD DPLVWDG HQ XQD JUDQ WROHUDQFLD VROR FRPSDUDEOH D VX
ERQGDG
&RQVLGHUDQGR VX QDWXUDO PRGHVWLD HO DERJDGR 8WWHUVRQ VH
FRQWHQWDED FRQ TXH HO FUFXOR GH VXV DPLVWDGHV OR IRUPDUDQ
DOJXQRVIDPLOLDUHV\YLHMRVFRQRFLGRV\FRPRODKLHGUDVXDIHFWR
FUHFDHQHOWLHPSR
$VVHH[SOLFDQVLQGXGDORVOD]RVTXHORXQDQD0VWHU5LFKDUG
(QILHOGIDPLOLDUOHMDQR\FDEDOOHUREDVWDQWHFRQRFLGRHQODFLXGDG
0XFKRVVHSUHJXQWDEDQTX©YHDQHOXQRHQHORWUR\TX©KDEDHQ
FRPºQ HQWUH 0VWHU 8WWHUVRQ \ 0VWHU (QILHOG 7RGRV ORV TXH VH
4/41
WURSH]DEDQ FRQ HOORV HQ HO FXUVR GH VXV KDELWXDOHV SDVHRV
GRPLQLFDOHVDVHJXUDEDQTXHQRLQWHUFDPELDEDQXQDVRODSDODEUD
TXH VH QRWDEDQ H[WUHPDGDPHQWH DEXUULGRV \ TXH UHFLEDQ FRQ
HYLGHQWH DJUDGR OD SUHVHQFLD GH FXDOTXLHU DPLJR TXH VH OHV
DSUR[LPDUD 6LQ HPEDUJR SDUD DPERV HVWDV H[FXUVLRQHV
FRQVWLWXDQHOPHMRUPRPHQWRGHODVHPDQD
(Q XQR GH HVWRV SDVHRV ORV GRV DPLJRV GHVHPERFDURQ HQ XQD
FDOOHMXHODGHXQEDUULRFRPHUFLDOGH/RQGUHV$VLPSOHYLVWDVXV
KDELWDQWHVHUDQFRPHUFLDQWHVSU³VSHURVTXHFRPSHWDQHQDOKDMDU
ORV HVFDSDUDWHV GH VXV WLHQGDV DOLQHDGDV D DPERV FRVWDGRV GH OD
FDOOHG¡QGROHVXQDVSHFWRIORUHFLHQWH\WHQWDGRU$XQHQPHGLRGH
ODWUDQTXLOLGDG\HOVLOHQFLRGHORVGRPLQJRVHVDFDOOHFLWDEULOODED
HQFRPSDUDFL³QFRQHOUHVWRGHOEDUULROODPDQGRODDWHQFL³QGHORV
WUDQVHºQWHV ODV FRQWUDYHQWDQDV UHFL©Q SLQWDGDV ORV UHOXFLHQWHV
OHWUHURVGHEURQFH\ODOLPSLH]D
3HUR FHUFD GH OD HVTXLQD HQ OD DFHUD L]TXLHUGD FDPLQDQGR HQ
GLUHFFL³Q (VWH LQWHUUXPSD OD OQHD GH HVFDSDUDWHV URPSLHQGR OD
DJUDGDEOHDUPRQDODHQWUDGDDXQSDWLR$OOVHDO]DEDXQHGLILFLR
GHGRVSLVRVGHDVSHFWRWHQHEURVRTXHSUR\HFWDEDVXDOHURVREUH
ODYHUHGD&DUHFDGHYHQWDQDV\QRWHQDP¡VTXHXQDSXHUWDHQOD
SODQWD EDMD \ HQ OD VXSHULRU VROR XQ IUHQWH FLHJR FRQ OD SDUHG
GHVFDVFDUDGD (Q WRGRV ORV GHWDOOHV VH WUDVOXFD XQ GHVFXLGR
SURORQJDGR\V³UGLGR/DSXHUWDFDUHFDGHOODPDGRURFDPSDQLOOD
\ VX SLQWXUD VH YHD VDOWDGD \ GHVWH±LGD /RV YDJDEXQGRV VH
JXDUHFDQ D VX DPSDUR HQ WDQWR TXH ORV FKLTXLOORV WRPDEDQ SRU
DVDOWR VXV SHOGD±RV 0¡V GH XQ PXFKDFKR KDED FRPSUREDGR HO
ILOR GH VX FRUWDSOXPDV HQ ODV PROGXUDV \ QDGLH HQ XQD
JHQHUDFL³QSDUHFDKDEHUVHSUHRFXSDGRGHDOHMDUDHVWRVYLVLWDQWHV
QLGHUHSDUDUORVHVWUDJRVTXHFDXVDEDQ
0VWHU (QILHOG \ 0VWHU 8WWHUVRQ FDPLQDEDQ SRU OD DFHUD GHO
IUHQWH\DOOOHJDUDDTXHOVLWLRHOSULPHURDO]³VXEDVW³Q\VH±DO³
KDFLDODFDVD
ߙ7HKDVILMDGRHQHVDSXHUWD"ߙSUHJXQW³8QJHVWRDILUPDWLYRGH
VXDPLJRIXHODUHVSXHVWDߙ0HKDFHHYRFDUXQVXFHVRH[WUD±R
ߙ4X©VXFHVR"ߙLQGDJ³0VWHU8WWHUVRQFRQXQDOHYHDOWHUDFL³Q
HQODYR]
ߙ(QXQDRFDVL³QHQTXHYROYDDPLKRJDUHQXQDIUD\EUXPRVD
PDGUXJDGD GH LQYLHUQR ߙFRQWLQX³ 0VWHU (QILHOGߙ PH HQFRQWU©
DWUDYHVDQGRXQEDUULRHQHOTXHORºQLFRTXHORJUDEDYHUHUDQORV
IDUROHVHQFHQGLGRVHQODVHVTXLQDV(UDQFHUFDGHODVWUHV\UHFRUU
LQQXPHUDEOHVFDOOHVHQODVTXHWRGRHOPXQGRGRUPDWDQYDFDV\
VLOHQFLRVDVFRPRODQDYHGHXQDLJOHVLD$VOOHJX©DHVHHVWDGRGH
¡QLPRHQTXHVHFRPLHQ]DDGHVHDUTXHDSDUH]FDXQSROLFD)XH
HQWRQFHVFXDQGRUHSHQWLQDPHQWHYLDGRVSHUVRQDVXQKRPEUHGH
EDMD HVWDWXUD TXH FDPLQDED U¡SLGR HQ GLUHFFL³Q (VWH \ XQD QL±D
GH RFKR D GLH] D±RV TXH FRUUD SRU XQD ERFDFDOOH D OD PD\RU
YHORFLGDG TXH OH HUD SRVLEOH &RPR VXSRQGU¡V DO OOHJDU D OD
HVTXLQD FKRFDURQ \ HVWR HV OR JUDYH HO LQGLYLGXR DWURSHOO³ D OD
QL±LWD \ VLJXL³ DGHODQWH VLQ DWHQGHU D VXV JULWRV GHM¡QGROH HQ HO
VXHOR4XL]¡VFRPRORHVWR\FRQWDQGRHOLQFLGHQWHQRSDUH]FDWDQ
HVSDQWRVRSHURODYLVL³QTXH\RWXYHIXHKRUULEOH$TXHOKRPEUH
QR SDUHFD XQ VHU KXPDQR /H JULW© FRUU WUDV ©O OR FRJ SRU HO
FXHOOR\ORREOLJX©DYROYHUDOOXJDUGRQGH\DXQJUXSRGHJHQWH
VHUHXQDHQWRUQRDODQL±D(OKRPEUHQRRIUHFL³UHVLVWHQFLD\VH
PRVWU³WUDQTXLORSHURODPLUDGDTXHPHGLULJL³HVWDEDWDQFDUJDGD
GH SHUYHUVLGDG TXH XQ VXGRU KHODGR PH LQYDGL³ /RV TXH VH
KDOODEDQMXQWRDODYFWLPDHUDQIDPLOLDUHVGHHOOD\XQP©GLFRD
TXLHQ OD FKLFD LED D EXVFDU FXDQGR WURSH]³ FRQ HO GHVFRQRFLGR
6HJºQ HO P©GLFR OD FULDWXUD QR KDED VXIULGR P¡V GD±R TXH HO
VXVWR\WDOYH]SHQVDU¡VHVWLPDGR8WWHUVRQTXHDTXVHDFDEDOD
KLVWRULD1RQRHVDVRFXUUL³DOJRP¡V'HVGHHOSULPHULQVWDQWH
HVHVXMHWRPHFDXV³XQDLQFRQWURODEOHUHSXJQDQFLD\RWURWDQWROHV
VXFHGL³DWRGRVORVDOOSUHVHQWHV1RREVWDQWHPHVRUSUHQGL³TXH
DO P©GLFR OH SDVDUD OR PLVPR (VWH HUD XQ LQGLYLGXR FRPºQ \
5/41
FRUULHQWH FRQ PDUFDGR DFHQWR GH (GLQEXUJR DVSHFWR \ HGDG
LQGHILQLGRV \ OD VHQVLELOLGDG GH XQ HVFD±R GH PDGHUD SHUR
UHDFFLRQDED LJXDO TXH ORV GHP¡V 0LUDED D PL SULVLRQHUR \ VH
HQIHUPDED \ SDOLGHFD DFRVDGR SRU XQ GHVHR YLROHQWR GH
DVHVLQDUOR 1R QRV FRVW³ GDUQRV FXHQWD GH OR TXH DPERV
SHQV¡EDPRV \ FRQVLGHUDQGR TXH QR SRGDPRV GDU PXHUWH DO
KRPEUHOHFRPXQLFDPRVTXHGDUDPRVDFRQRFHUVXKD]D±DTXH
WRGR /RQGUHV OR PDOGHFLUD \ TXH SHUGHUD VX UHSXWDFL³Q \ VXV
DPLJRV0LHQWUDVORDPHQD]¡EDPRVODVPXMHUHVVHKDOODEDQOLVWDV
SDUD ODQ]DUVH FRPR DUSDV FRQWUD ©O (Q PL YLGD KH YXHOWR D YHU
URVWURV WDQ HQFHQGLGRV SRU HO RGLR \ HQ PHGLR GH DTXHO FUFXOR
SHUPDQHFD HVH KRPEUH UHYHVWLGR GH XQD RVFXUD \ GHVSHFWLYD
IULDOGDGFRQWURODQGRVXWHPRUFRQXQGRPLQLRVDW¡QLFR
ߙ6LGHVHDQVDFDUSDUWLGRGHODFFLGHQWHPHWLHQHQHQVXVPDQRVߙ
GLMRߙ 8Q FDEDOOHUR VLHPSUH WUDWD GH HYLWDU HO HVF¡QGDOR 'LJDQ
FX¡QWRSLGHQ
/HH[LJLPRVQDGDPHQRVTXHFLHQPLOOLEUDVSDUDODIDPLOLDGHOD
QL±D (UD HYLGHQWH TXH SHQV³ HQ HVFDSDU SHUR QXHVWUD DFWLWXG OH
LQVSLU³PLHGR\FHGL³<DG³QGHWHLPDJLQDVTXHQRVFRQGXMRD
EXVFDUHOGLQHUR"
0VWHU8WWHUVRQVHOLPLW³DREVHUYDUORDWHQWDPHQWH
ߙb$ HVH HGLILFLR ߙSURVLJXL³ 0VWHU (QILHOGߙ b$O TXH HQWU³ SRU
HVD SXHUWD $EUL³ FRQ XQD OODYH \ DO SRFR UDWR YROYL³ FRQ GLH]
OLEUDVHQRUR\XQFKHTXHSRUHOYDORUGHODFDQWLGDGUHVWDQWH(VWH
GRFXPHQWR SDUD FREUDU HQ HO %DQFR GH *RXWWV \ H[WHQGLGR DO
SRUWDGRUHVWDEDILUPDGRFRQXQQRPEUHTXHQRSXHGRPHQFLRQDU
DXQTXH HV XQR GH ORV GHWDOOHV P¡V LQWHUHVDQWHV GH OD KLVWRULD /R
TXH V WH GLU© HV TXH FRUUHVSRQGD D DOJXLHQ GH JUDQ IRUWXQD
DPSOLDPHQWHFRQRFLGRDTXLHQYHPRVDPHQXGRHQORVSHUL³GLFRV
'XGDQGRGHODDXWHQWLFLGDGGHODILUPDOHPDQLIHVW©DOVXMHWRHQ
FXHVWL³QTXHWRGRHODVXQWRPHSDUHFDVRVSHFKRVRTXHUHVXOWDED
VXPDPHQWH H[WUD±R YHQLU D ODV FXDWUR GH OD PDGUXJDGD D HVD
FXHYDDEXVFDUXQFKHTXHGHHVHYDORUILUPDGRSRURWUDSHUVRQD
(OLQGLYLGXRDFHQWX³VXDLUHGHVSHFWLYR
ߙ1R KD\ QDGD TXH WHPHU ߙDVHJXU³ߙ 0H TXHGDU© FRQ XVWHGHV
KDVWDTXHDEUDQHO%DQFR\FREUDU©\RPLVPRHOGLQHUR
$FHSW© OD SURSRVLFL³Q \ QRV IXLPRV D PL FDVD D HVSHUDU
DFRPSD±DGRV SRU HO SDGUH GH OD QL±D \ HO P©GLFR $ OD KRUD
DGHFXDGD GHVSX©V GH GHVD\XQDU QRV GLULJLPRV DO %DQFR <R
PLVPROHSDV©HOFKHTXHDOFDMHURH[SOLF¡QGROHTXHWHQDUD]RQHV
SDUDVXSRQHUTXHVHWUDWDEDGHXQDIDOVLILFDFL³Q6LQHPEDUJRPLV
VRVSHFKDVHUDQWRWDOPHQWHLQIXQGDGDV\DTXHODILUPDHUDOHJWLPD
ߙb4X©EDUEDULGDGߙH[FODP³0VWHU8WWHUVRQ
ߙ$VHVߙDVLQWL³0VWHU(QILHOGߙ9HRTXHSLHQVDVORPLVPRTXH
\R6HVXQDKLVWRULDPX\GHVDJUDGDEOHSRUTXHHOSHUVRQDMHTXH
HQWUHJ³HOFKHTXHHVUHSXOVLYRGHWHVWDEOH\HOTXHORILUP³HVXQ
PRGHOR GH YLUWXGHV IDPRVR SRU VXV EXHQDV REUDV 8Q FDVR GH
FKDQWDMH VLQ OXJDU D GXGDV HO FDEDOOHUR KRQRUDEOH TXH VH YH
REOLJDGR D SDJDU XQD IRUWXQD SRU DOJºQ GHVOL] 3RU HVR D HVWH
HGLILFLR OR OODPR OD FDVD GHO FKDQWDMH $XQTXH DXQ HVR HVWDUD
OHMRVGHH[SOLFDUORWRGR
'HVSX©V GH GHFLU HVWR 0VWHU (QILHOG VH KXQGL³ HQ VXV
PHGLWDFLRQHVGXUDQWHXQUDWR0VWHU8WWHUVRQORVDF³GHHOODVFRQ
XQDSUHJXQWDLQRSLQDGD
ߙ<VDEHVVLHOFDEDOOHURTXHH[WHQGL³HOFKHTXHYLYHDK"
ߙ1R VHUD XQ OXJDU PX\ DSURSLDGR ߙUHVSRQGL³ 0VWHU (QILHOGߙ
1RVXGLUHFFL³QHVRWUDFHUFDGHXQDSOD]D
ߙ<DFHUFDGHHVWDFDVDQRKDVDYHULJXDGRQDGD"
ߙ1R 'HFLGLGDPHQWH HVWR\ HQ FRQWUD GH WRGD FODVH GH
DYHULJXDFLRQHV\SUHJXQWDV0HKDFHQSHQVDUHQHOGDGHO-XLFLR
)LQDO +DFHU XQD SUHJXQWD HV FRPR ODQ]DU XQD SLHGUD TXH YD
DUUDVWUDQGRPXFKDVRWUDVDVXSDVR$OILQDOYDQDGDUWRGDVHQOD
FDEH]DGHDOJºQLQIHOL]HQHOTXHPHQRVVHSLHQVD\UHVXOWDTXHOD
IDPLOLD WLHQH TXH FDPELDU GH DSHOOLGR 3UHILHUR DWHQHUPH D XQD
6/41
QRUPD PLHQWUDV P¡V UDUR PH SDUHFH XQ FDVR PHQRV SUHJXQWDV
KDJR
ߙ6DELRSURFHGHUߙUHFRQRFL³0VWHU8WWHUVRQ
ߙ/R TXH V KH KHFKR HV H[DPLQDU HO HGLILFLR ߙSURVLJXL³ 0VWHU
(QILHOGߙ$SDUHQWHPHQWHQRHVXQDFDVDKDELWDGD(VDHVODºQLFD
SXHUWD\QDGLHHQWUDRVDOHSRUHOODH[FHSWRHORGLRVRSURWDJRQLVWD
GHODDYHQWXUDTXHDFDERGHUHODWDUWH\HVRRFXUUHPX\GHWDUGHHQ
WDUGH(QHOSULPHUSLVRKD\WUHVYHQWDQDVTXHGDQDOSDWLR\TXH
SHUPDQHFHQ VLHPSUH FHUUDGDV 1R REVWDQWH GH OD FKLPHQHD VDOH
KXPR OR TXH LQGLFDUD TXH SHVH D ODV DSDULHQFLDV DOJXLHQ YLYH
DOO
/RVGRVDPLJRVVHDOHMDURQGHOOXJDUHQVLOHQFLR
ߙ(V EXHQD QRUPD OD GH QR LQGDJDU ߙPXUPXU³ GH SURQWR 0VWHU
8WWHUVRQߙ3HURDXQDVKD\XQDFRVDTXHTXLHURSUHJXQWDUWH0H
JXVWDUDTXHPHGLMHUDVF³PRVHOODPDHOKRPEUHTXHDWURSHOO³DOD
QL±D
ߙ%XHQR QR YHR TX© PDO SXHGD KDEHU HQ GHFUWHOR ߙFRQWHVW³
0VWHU(QILHOGߙ6HOODPD+\GH
ߙ<SRGUDVGDUP¡VGHWDOOHVGHVXIVLFR"
ߙ1RHVI¡FLOGHVFULELUORߙGLMRHORWURߙ<DWHKHGLFKRTXHHQVX
DVSHFWR KD\ DOJR HTXYRFR GHFLGLGDPHQWH GHWHVWDEOH 1XQFD KH
YLVWR D QDGLH GHVSHUWDU WDQWD UHSXJQDQFLD \ VLQ HPEDUJR QR V©
H[SOLFDU SRU TX© 'HEH WHQHU DOJXQD GHIRUPLGDG 6 HVD HV OD
LPSUHVL³QTXHSURGXFHDXQTXHQRSXHGDGHILQLUODFRQFUHWDPHQWH
QL PHQFLRQDU XQ VROR GHWDOOH IXHUD GH OR QRUPDO < QR HV TXH OR
KD\DROYLGDGRSRUTXHWHDVHJXURTXHORUHFXHUGRFRPRVLHQHVWH
PRPHQWRORWXYLHUDDQWHPLYLVWD
0VWHU 8WWHUVRQ DQGXYR RWUR WUHFKR DEUXPDGR SRU QHJURV
SHQVDPLHQWRV
ߙ(VW¡VVHJXURGHTXHDEUL³ODSXHUWDFRQXQDOODYH"ߙLQWHUURJ³
DOILQ(QILHOGORREVHUY³VRUSUHQGLGRߙ&RPSUHQGRTXHWHH[WUD±H
PLSUHJXQWD/DYHUGDGHVTXHVLQRKHDYHULJXDGRF³PRVHOODPD
HO RWUR SHUVRQDMH HO TXH H[WHQGL³ HO FKHTXH HV SRUTXH \D OR V©
6LQ SURSRQ©UWHOR WX KLVWRULD KD GDGR HQ HO FODYR GH DOJR TXH PH
SUHRFXSD\VLQRKDVVLGRH[DFWRHQDOJºQSXQWRFRQYLHQHTXHOR
UHFWLILTXHV
ߙ'HEHUDV KDE©UPHOR DGYHUWLGR ߙUHVSRQGL³ VX DPLJR VLQ
GLVLPXODU FLHUWD PROHVWLDߙ 3HUR WH DVHJXUR TXH KH VLGR H[DFWR
KDVWD OD SHGDQWHUD FRPR Wº VXHOHV GHFLU (O LQGLYLGXR WHQD XQD
OODYH\VLJXHWHQL©QGROD/RYLXVDUODKDFHPHQRVGHXQDVHPDQD
ߙ0VWHU8WWHUVRQUHVSLU³KRQGR\QRGLMRXQDSDODEUD3DVDGRXQ
PRPHQWR 0VWHU (QILHOG FRQWLQX³ߙ 0H DUUHSLHQWR GH KDEHU
KDEODGR P¡V GH OD FXHQWD +DJDPRV XQ WUDWR 1XQFD P¡V
YROYHUHPRVDPHQFLRQDUHVWHDVXQWR
ߙ'HDFXHUGRߙFRQWHVW³0VWHU8WWHUVRQߙ7HORSURPHWR5LFKDUG
7/41
%XVFDQGRD0VWHU+\GH
$TXHOOD QRFKH 0VWHU 8WWHUVRQ YROYL³ D VX FDVD GH VROWHU³Q
VRPEUR\VLQHQWXVLDVPRVHVHQW³HQODPHVD/RVGRPLQJRVDO
WHUPLQDUODFHQDWHQDODFRVWXPEUHGHLQVWDODUVHHQXQVLOO³QMXQWR
DOIXHJR\DODREUDGHDOJºQ¡ULGRWH³ORJRKDVWDTXHHOUHORMGHOD
LJOHVLD YHFLQD GDED ODV GRFH D HVWD KRUD VH LED D OD FDPD
DJUDGHFLGR\WUDQTXLOR
+R\ VLQ HPEDUJR FRJL³ XQ FDQGHODEUR \ VH GLULJL³ D VX
GHVSDFKR 8QD YH] DOO DEUL³ OD FDMD IXHUWH \ GHO OXJDU P¡V
UHF³QGLWR VDF³ XQ VREUH HQ TXH VH OHD 7HVWDPHQWR GHO 'RFWRU
-HN\OO )UXQFLHQGR HO FH±R VH VHQW³ D LQVSHFFLRQDU VX FRQWHQLGR
(O WHVWDPHQWR HUD DXW³JUDIR \D TXH HO DERJDGR 8WWHUVRQ DFHSW³
KDFHUVH FDUJR GH ©O SHUR VH KDED QHJDGR D SUHVWDU D\XGD D VX
FRQIHFFL³Q'LFKRGRFXPHQWRHVWLSXODEDTXHWUDVHOIDOOHFLPLHQWR
GHO 'RFWRU HQ 0HGLFLQD +HQU\ -HN\OO PLHPEUR GH OD 5R\DO
6RFLHW\WRGRFXDQWRSRVHDIXHUDDSDUDUDPDQRVGHVXߡDPLJR\
EHQHIDFWRU (GZDUG +\GHߢ < WDPEL©Q TXH HQ FDVR GH
ߡGHVDSDULFL³QRDXVHQFLDLQH[SOLFDEOHGHOGRFWRU-HN\OOGXUDQWHXQ
SHURGRGHWLHPSRVXSHULRUDORVWUHVPHVHVߢHODQWHGLFKR(GZDUG
+\GH SDVDUD D GLVIUXWDU GH WRGDV ODV SHUWHQHQFLDV GHO 'RFWRU
-HN\OOVLQODPHQRUGLODFL³Q\OLEUHGHFDUJDV\REOLJDFLRQHVFRQ
H[FHSFL³QGHOSDJRGHODVHUYLGXPEUHGHOGRFWRU
'HVGH KDFD WLHPSR HVH WHVWDPHQWR FRQVWLWXD XQD SUHRFXSDFL³Q
SDUD0VWHU8WWHUVRQ/HPROHVWDEDQRVRORHQFDOLGDGGHDERJDGR
VLQRSRUVHUXQKRPEUHDSHJDGRDWRGRORFXHUGR\KDELWXDOSDUD
TXLHQ OR GHVXVDGR R H[WUDYDJDQWH HTXLYDOD FDVL D GHVKRQURVR
+DVWDHOPRPHQWRODLJQRUDQFLDGHTXL©QSRGDVHU0VWHU+\GHOH
SURYRFDED HQRMR SHUR OR TXH DFDEDED GH VDEHU SRU XQ VºELWR
FDSULFKRGHOGHVWLQRHUDFDXVDGHVXLQGLJQDFL³Q/DVLWXDFL³QOH
LQFRPRGDEDFXDQGRDTXHOSHUVRQDMHQRFRQVWLWXDVLQRXQQRPEUH
GHOFXDOQDGDSRGDDYHULJXDUSHURHUDPXFKRSHRUDKRUDTXHHVH
QRPEUH VXUJD UHYHVWLGR GH UDVJRV GHWHVWDEOHV 'H OD QHEOLQD
PRYHGL]D LQFRUS³UHD D SULPHU SODQR OD LPDJHQ FRQFUHWD GH XQ
VHUGLDE³OLFR
ߡ&UH TXH HUD XQD ORFXUDߢ VH GLMR PLHQWUDV YROYD D JXDUGDU HO
RGLRVR GRFXPHQWR ߡ\ DKRUD HPSLH]R D WHPHU TXH VHD XQD
LQIDPLDߢ
$SDJ³ ODV YHODV VH SXVR HO DEULJR \ VH GLULJL³ D OD 3OD]D GH
&DYHQGLVK UHGXFWR GH OD PHGLFLQD GRQGH VX DPLJR HO IDPRVR
GRFWRU/DQ\RQWHQDVXFDVD\UHFLEDDQXPHURVRVSDFLHQWHVߡ6L
DOJXLHQVDEHDOJRGHHVWHDVXQWRWLHQHTXHVHU/DQ\RQߢSHQVDED
(O VROHPQH PD\RUGRPR OR FRQRFD OH GLR OD ELHQYHQLGD \ VLQ
GLODFL³QORFRQGXMRDOFRPHGRUGRQGHDºQVHKDOODEDVHQWDGRDOD
PHVDVROR\SDODGHDQGRXQDFRSDGHYLQRHOGRFWRU/DQ\RQ(VWH
HUD XQ KRPEUH VDQR YLYD] \ UXELFXQGR GH FDEHOORV
SUHPDWXUDPHQWH HQFDQHFLGRV \ PRGDOHV GHFLGLGRV \ EXOOLFLRVRV
$OYHUD0VWHU8WWHUVRQVHOHYDQW³\VDOL³DUHFLELUOHWHQGL©QGROH
DPEDV PDQRV 6X FRUGLDOLGDG SRGD UHVXOWDU XQ SRFR WHDWUDO D
SULPHUD YLVWD SHUR UHVSRQGD D XQ DXW©QWLFR DIHFWR /RV KRPEUHV
HUDQ YLHMRV DPLJRV FRPSD±HURV GH FROHJLR \ GH XQLYHUVLGDG VH
UHVSHWDEDQPXWXDPHQWH\ORTXHQRVLHPSUHHVFRQVHFXHQFLDGHOR
DQWHULRUJR]DEDQHOXQRFRQODFRPSD±DGHORWUR
7UDV XQRV PRPHQWRV GH GLYDJDFL³Q HO DERJDGR HQFDPLQ³ OD
FKDUODDOWHPDTXHORSUHRFXSDED
ߙ6XSRQJR /DQ\RQ ߙGLMRߙ TXH VRPRV ORV DPLJRV P¡V DQWLJXRV
TXHWLHQH+HQU\-HN\OO
ߙ2MDO¡QRORIX©UDPRVWDQWRߙFRQWHVW³/DQ\RQULHQGRߙ3HURV
VXSRQJRTXHQRWHHTXLYRFDV4X©HVGH©O"OWLPDPHQWHORYHR
PX\SRFR
ߙ'H YHUDV" ߙGLMR 8WWHUVRQߙ &UH TXH OHV XQDQ LQWHUHVHV
FRPXQHV
ߙ$VHVHVRHVYHUGDG6LQHPEDUJRKDFHP¡VGHGLH]D±RVTXH
8/41
+HQU\ -HN\OO SULQFLSL³ D FRPSOLFDUVH GHPDVLDGR 3RGUD GHFLUVH
TXH VH KD GHVTXLFLDGR PHQWDOPHQWH \ DXQTXH DºQ VLJXH
LQWHUHV¡QGRPHORKHYLVWRPX\SRFRHVWRVºOWLPRVPHVHVb7RGRV
HVRVGLVSDUDWHVWDQSRFRFLHQWILFRV
$TXHOOD FRQIHVL³Q DOLYL³ HQ FLHUWR PRGR D 0VWHU 8WWHUVRQ
ߡ'LILHUHQVRODPHQWHHQODFXHVWL³QFLHQWILFDߢVHGLMR<FRPRQR
OHDSDVLRQDEDSDUDQDGDODFLHQFLDSHQV³ߡb3HTXH±HFHVߢ/XHJR
DERUG³HOWHPDTXHORKDEDOOHYDGRDDTXHOODFDVD
ߙ&RQRFHVDHVHSURWHJLGRGH-HN\OOXQWDO+\GH"ߙSUHJXQW³
ߙ+\GH"1RQXQFDKHRGRKDEODUGH©O'HEHKDEHUORFRQRFLGR
GHVSX©VGHTXH\RGHM©GHIUHFXHQWDUOR
(VWD IXH WRGD OD LQIRUPDFL³Q TXH HO DERJDGR SXGR OOHYDUVH
FRQVLJR \ VH UHYROYL³ HQ VX OHFKR KDVWD TXH ODV KRUDV GHO
DPDQHFHUFRPHQ]DURQDKDFHUVHP¡VODUJDV$TXHOODQRFKHIXHGH
SRFR GHVFDQVR SDUD VX FHUHEUR TXH WUDEDM³ VLQ WUHJXD HQIUHQWDGR
VRORFRQODRVFXULGDG\DFRVDGRSRULQILQLWRVLQWHUURJDQWHV
&XDQGRODVFDPSDQDVGHODLJOHVLDFHUFDQDGLHURQODVVHLV0VWHU
8WWHUVRQVHJXDPHGLWDQGRVREUHHOSUREOHPD+DVWDHQWRQFHVVROR
OHKDEDLQWHUHVDGRHQHODVSHFWRLQWHOHFWXDOSHURDKRUDPLHQWUDV
VH UHYROYD HQ ODV WLQLHEODV GH OD QRFKH \ GH OD KDELWDFL³Q
UHVJXDUGDGDSRUHVSHVRVFRUWLQDMHVODQDUUDFL³QGH0VWHU(QILHOG
GHVILODED SRU VX PHQWH FRPR XQD VHFXHQFLD LQLQWHUUXPSLGD GH
ILJXUDVOXPLQRVDV
9HD SULPHUR OD LQILQLWD VXFHVL³Q GH IDUROHV GH XQD FLXGDG
KXQGLGDHQODQRFKHOXHJRODILJXUDGHXQKRPEUHTXHFDPLQDED
DSUHVXUDGR OD GH XQD QL±D TXH VDOD FRUULHQGR GH OD FDVD GHO
P©GLFR\DOILQODVGRVILJXUDVWURSH]DQGR5HSHQWLQDPHQWHYHD
HOGRUPLWRULRGHVXDPLJRHQXQDFDVDOXMRVD\D©VWHVRQUL©QGROH
D VXV VXH±RV /D SXHUWD VH DEUD EUXVFDPHQWH ODV FRUWLQDV GH OD
FDPDVHVHSDUDEDQ\XQDYR]GHVSHUWDEDDOGRUPLGR$VXODGRVH
KDOODEDXQDILJXUDTXHWHQDSRGHUVREUH©O\-HN\OOQRWHQDP¡V
UHPHGLRTXHOHYDQWDUVH\REHGHFHUDVXPDQGDWR
(VD ILJXUD REVHVLRQ³ WRGD OD QRFKH D 0VWHU 8WWHUVRQ \ VL HQ
DOJºQPRPHQWRFD\³HQXQVXH±ROLJHURIXHSDUDYHUODGHVOL]DUVH
IXUWLYDPHQWHHQWUHGRUPLGDVPDQVLRQHVRPRYHUVHKDVWDDOFDQ]DU
XQD YHORFLGDG GH Y©UWLJR HQWUH ORV ODEHULQWRV GH XQD FLXGDG
LOXPLQDGD SRU IDUROHV DWURSHOODQGR D XQD QL±D HQ WRGDV ODV
HVTXLQDV \ DEDQGRQ¡QGROD D SHVDU GH VXV JULWRV < HVD ILJXUD QR
WHQD URVWUR SDUD UHFRQRFHUOR 1L VLTXLHUD HQ VXV VXH±RV WHQD
URVWUR \ VL OR WHQD VH EXUODED DSDUHFLHQGR XQ VHJXQGR SDUD
GLVROYHUVH HQ XQ LQVWDQWH $V IXH FRPR VXUJL³ \ FUHFL³ FRQ
SUHVWH]D HQ OD PHQWH GH 0VWHU 8WWHUVRQ XQD FXULRVLGDG
VLQJXODUPHQWH IXHUWH FDVL LQFRQWURODEOH REVHUYDU HO URVWUR GHO
YHUGDGHUR0VWHU+\GH
ߡ6LSXGLHUDYHUORDXQTXHVRORIXHUDXQDYH]ߢSHQV³ߡHOPLVWHULR
VH LUD GLVLSDQGR \ SRGUD GHVYDQHFHUVH WRWDOPHQWH FRPR VXHOH
VXFHGHUFRQWRGRDFRQWHFLPLHQWRPLVWHULRVRFXDQGRVHORH[DPLQD
GHWDOODGDPHQWH 4XL]¡V DGLYLQDUD HVD H[WUD±D SUHGLOHFFL³Q R
VHUYLGXPEUH GH PL DPLJR \ KDVWD HQWHQGHUD HO LQFRPSUHQVLEOH
WHVWDPHQWR9DOGUDODSHQDYHUODFDUDGHXQKRPEUHSHUYHUVRVLQ
SLHGDGTXHVRORWXYRTXHPRVWUDUVHXQDYH]SDUDGHVSHUWDUHQHO
SRFRLPSUHVLRQDEOH(QILHOGXQDUHSXOVL³QLPSHUHFHGHUDߢ
'HVGHDTXHOGD0VWHU8WWHUVRQHPSH]³DURQGDUODSXHUWDTXH
URPSD HO RUGHQ HQ HVD FDOOHMXHOD GH ODV WLHQGDV /R KDFD SRU OD
PD±DQD DQWHV GH DFXGLU D VX GHVSDFKR D PHGLRGD FXDQGR HO
WUDEDMRHUDPXFKR\HOWLHPSRHVFDVRSRUODQRFKHDQWHODPLUDGD
GH OD OXQD TXH VH FHUQD GLIXVD VREUH OD FLXGDG %DMR WRGDV ODV
OXFHV\DWRGDVKRUDV\DHVWXYLHUDODFDOOHVROLWDULDRDQLPDGDHO
DERJDGRPRQWDEDJXDUGLDHQDTXHOOXJDU
3RU ILQ YLR UHFRPSHQVDGD VX SDFLHQFLD )XH XQD QRFKH FODUD \
GHVSHMDGDGHDLUHKHODGRFRQODVFDOOHVOLPSLDVFRPRODSLVWDGH
XQ VDO³Q GH EDLOH /DV OXFHV LQP³YLOHV SRU OD IDOWD GH YLHQWR
SUR\HFWDEDQ VREUH HO FHPHQWR UHJXODUHV GLEXMRV GH FODULGDG \
VRPEUDV $OUHGHGRU GH ODV GLH] FXDQGR ODV WLHQGDV HVWDEDQ \D
9/41
FHUUDGDV OD FDOOH VH TXHG³ FDOODGD \ VROLWDULD DXQTXH OOHJDED HO
]XPELGR GH /RQGUHV TXH OD URGHDED \ HO VRQLGR P¡V PQLPR VH
RDGHVGHOHMRV/RVUXLGRVTXHYHQDQGHODVFDVDVHUDQFODUDPHQWH
DXGLEOHV\HOHFRGHORVSDVRVGHORVWUDQVHºQWHVSUHFHGDDHVWRV
GXUDQWHODUJRUDWR
0VWHU 8WWHUVRQ OOHYDED YDULRV PLQXWRV HVSHUDQGR HQ VX SXHVWR
FXDQGRHVFXFK³XQFDPLQDUOHYHTXHVHDFHUFDED(QHOFXUVRGH
DTXHOODV JXDUGLDV QRFWXUQDV VH KDED DFRVWXPEUDGR DO HIHFWR TXH
VH SURGXFH FXDQGR ODV SLVDGDV GH XQD SHUVRQD DºQ GLVWDQWH VH
GHVWDFDQVºELWDPHQWH
1XQFDVLQHPEDUJRKDEDQDFDSDUDGRVXDWHQFL³QHQIRUPDWDQ
DJXGD 3RU HVR VH RFXOW³ HQ OD HQWUDGD GHO SDWLR FRQ XQ
SUHVHQWLPLHQWRGHWULXQIR
/RV SDVRV VH DSUR[LPDEDQ U¡SLGDPHQWH \ DO GREODU OD HVTXLQD
UHVRQDURQ FRQ P¡V ILUPH]D 0VWHU 8WWHUVRQ PLU³ GHVGH VX
HVFRQGLWH\HQVHJXLGDGHVFXEUL³FRQTX©FODVHGHKRPEUHWHQGUD
TXH HQWHQGHUVH (UD GH FRUWD HVWDWXUD \ YHVWD VHQFLOODPHQWH 6X
DVSHFWR DºQ D OD GLVWDQFLD SUHGLVSRQD DXWRP¡WLFDPHQWH HQ VX
FRQWUD&UX]³ODFDOOH\VHGLULJL³DODSXHUWDPLHQWUDVDYDQ]DED
VDF³XQDOODYHGHOEROVLOORFRQHOJHVWRVHJXURGHOTXHVHDSUR[LPD
DFDVD
(QHOPRPHQWRHQTXHSDVDEDMXQWRD©O0VWHU8WWHUVRQORWRF³
HQHOKRPEUR
ߙ0VWHU+\GHVXSRQJR
+\GH GLR XQ SDVR DWU¡V \ DVSLU³ XQD ERFDQDGD GH DLUH 3HUR VX
WHPRUIXHVRORPRPHQW¡QHR\VLQPLUDUDODERJDGRFRQWHVW³FRQ
IULDOGDG
ߙ(OPLVPR4X©GHVHD"
ߙ6R\ 0VWHU 8WWHUVRQ XQ YLHMR DPLJR GHO GRFWRU -HN\OO 8VWHG
GHEHFRQRFHUPHGHQRPEUH$OYHUOHOOHJDUWDQRSRUWXQDPHQWHKH
SHQVDGRTXHTXL]¡VPHSHUPLWLU¡SDVDU
ߙ1R HQFRQWUDU¡ DO GRFWRU -HN\OO (VW¡ IXHUD ߙUHVSRQGL³ 0VWHU
+\GH < OXHJR FRQWLQX³ VLQ OHYDQWDU OD YLVWDߙ &³PR PH KD
UHFRQRFLGR"
ߙ4XHUU¡KDFHUPHXQIDYRU"ߙSUHJXQW³0VWHU8WWHUVRQ
ߙ'HVGHOXHJR'HTX©VHWUDWD"
ߙ0HSHUPLWHTXHOHYHDODFDUD"ߙDJUHJ³HODERJDGR
0VWHU+\GHYDFLO³SHURDOILQWRPDQGRXQDUHSHQWLQDGHFLVL³Q
ORPLU³GHIUHQWHFRQJHVWRGHGHVDIR'XUDQWHXQRVVHJXQGRVORV
GRVKRPEUHVVHREVHUYDURQILMDPHQWH
ߙ$KRUD \D SRGU© UHFRQRFHUOR ߙDILUP³ 0VWHU 8WWHUVRQߙ 3XHGH
VHUPHPX\ºWLO
ߙ6 (V FRQYHQLHQWH TXH QRV KD\DPRV FRQRFLGRߙ UHVSRQGL³
0VWHU+\GHߙ$SURS³VLWROHGDU©PLGLUHFFL³Q
'LMRHOQºPHURGHFLHUWDFDOOHGHO6RKR
ߡb'LRVPRߢUHIOH[LRQ³SDUDV0VWHU8WWHUVRQߡ7DPEL©Q©O
KDEU¡ HVWDGR SHQVDQGR HQ HO WHVWDPHQWR"ߢ 3HUR VH JXDUG³ VXV
WHPRUHV
ߙ<DKRUDGJDPHߙLQVLVWL³HORWURߙF³PRPHKDUHFRQRFLGR"
ߙ3RUODGHVFULSFL³QTXHPHKDEDQGDGRߙIXHODUHVSXHVWD
ߙ4XL©QVHODGLR"
ߙ7HQHPRVDPLJRVFRPXQHVߙGLMR0VWHU8WWHUVRQ
ߙ$PLJRV FRPXQHV" ߙSUHJXQW³ 0VWHU +\GH FRQ DVSHUH]Dߙ
4XL©QHV"
ߙ-HN\OOSRUHMHPSOR
ߙb(OQROHKDGLFKRQDGDߙHVWDOO³0VWHU+\GHFRQXQDFFHVRGH
LUDߙb1RORFUHDFDSD]GHPHQWLU
ߙb9DPRV ߙOR UHFRQYLQR 0VWHU 8WWHUVRQߙ (VH OHQJXDMH QR OR
KRQUD
(QWRQFHV0VWHU+\GHODQ]³XQDFDUFDMDGDVDOYDMH\XQVHJXQGR
GHVSX©VFRQUDSLGH]H[WUDRUGLQDULDDEUL³ODSXHUWD\GHVDSDUHFL³
HQHOVRPEURLQWHULRUGHODFDVD
(O DERJDGR SHUPDQHFL³ FODYDGR HQ VX OXJDU XQRV PRPHQWRV
DJRELDGR SRU XQD SURIXQGD LQTXLHWXG /XHJR HFK³ D DQGDU FDOOH
10/41
DEDMR GHWHQL©QGRVH D PHQXGR OOHY¡QGRVH XQD PDQR D OD IUHQWH
SUHVLRQDGRSRUJUDQGHVGXGDV(OSUREOHPDFRQTXHVHGHEDWDHUD
GH HVRV TXH GLIFLOPHQWH OOHJDQ D UHVROYHUVH 0VWHU +\GH HUD
S¡OLGR SHTXH±R SURGXFD LPSUHVL³Q GH GHIRUPLGDG VLQ VHU
HIHFWLYDPHQWH FRQWUDKHFKR WHQD XQD VRQULVD UHSXOVLYD VH KDED
GLULJLGR D ©O FRQ XQD PH]FOD GH WLPLGH] \ RVDGD \ KDEODED FRQ
XQD YR] URQFD EDMD HQWUHFRUWDGD WRGR OR FXDO SUHGLVSRQD HQ VX
FRQWUD 6LQ HPEDUJR QDGD H[SOLFDED HO JUDGR QXQFD
H[SHULPHQWDGR KDVWD DKRUD GH UHSXJQDQFLD \ PLHGR TXH OH KDED
GHVSHUWDGR ߡ'HEH KDEHU DOJR P¡Vߢ PHGLW³ 0VWHU 8WWHUVRQ
ߡb7LHQH TXH KDEHU DOJR P¡V (VH KRPEUH QR SDUHFH XQ VHU
KXPDQR +D\ DOJR GH WURJORGLWD HQ ©O 3RGUD WUDWDUVH GH OD
LUUDGLDFL³QGHXQHVSULWXPDOYDGRTXHWUDVFLHQGH\WUDQVILJXUDDO
LQGLYLGXR"b3REUHPLDPLJR-HN\OOb6LDOJXQDYH]KHOHGRHQXQ
URVWURODILUPDGH6DWDQ¡VKDVLGRHQHOGHHVWHVXMHWRߢ
$ OD YXHOWD GH OD HVTXLQD MXVWR VDOLHQGR GH OD FDOOHMXHOD KDED
XQDSOD]DIODQTXHDGDGHFDVDVDQWLJXDV\GHKHUPRVDDSDULHQFLDOD
PD\RUSDUWHYHQLGDVDPHQRVHVWDEDQGLYLGLGDVHQFXDUWRVTXHVH
DOTXLODEDQDJHQWHGHWRGDFODVH\FRQGLFL³QQLFDPHQWHXQDGH
HOODV FRQWLQXDED WHQLHQGR XQ VROR RFXSDQWH $QWH VX SXHUWD TXH
WUDVXQWDED XQ DLUH GH ULTXH]D \ FRPRGLGDG 0VWHU 8WWHUVRQ VH
GHWXYR \ OODP³ 8Q VLUYLHQWH GH HGDG PDGXUD PX\ ELHQ YHVWLGR
DFXGL³DDEULU
ߙ%XHQDVQRFKHV3RROH(VW¡HOGRFWRU-HN\OO"
ߙ,U© D YHU 0VWHU 8WWHUVRQ ߙUHVSRQGL³ HO PD\RUGRPR 0LHQWUDV
KDEODEDKL]RSDVDUDOYLVLWDQWHDXQVDO³QDPSOLR\FRQIRUWDEOHGH
WHFKR EDMR \ SLVR GH EDOGRVDV FDOHIDFFLRQDGR SRU HO IXHJR TXH
DUGDDOHJUHPHQWHHQODFKLPHQHD\SDUHGHVFXELHUWDVSRUOXMRVRV
DUPDULRVGHUREOHߙ4XLHUHHVSHUDUDTXVH±RURSUHILHUHTXHOH
OOHYHOX]DOFRPHGRU"
ߙ(VSHUDU©DTX*UDFLDVߙGLMRHODERJDGR
6H DSUR[LP³ D OD FKLPHQHD \ VH DSR\³ HQ OD DOWD UHMLOOD TXH
SURWHJD GHO IXHJR 6H KDOODED HQ OD KDELWDFL³Q IDYRULWD GH VX
DPLJRHOGRFWRU-HN\OOXQDHVWDQFLDTXHQRKDEUDWHQLGRHOPHQRU
UHSDUR HQ GHVFULELU FRPR OD P¡V DFRJHGRUD GH /RQGUHV 1R
REVWDQWH HVD QRFKH QR SRGD LPSHGLU XQ HVWUHPHFLPLHQWR HQ ODV
YHQDV(OURVWURGH+\GHQRVHDSDUWDEDGHVXPHPRULD\GDGRHO
HVWDGR GH ¡QLPR HQ TXH VH KDOODED FUHD OHHU XQD DPHQD]D HQ HO
UHVSODQGRU GH ODV OODPDV TXH VH UHIOHMDEDQ HQ OD SXOLGD VXSHUILFLH
GHORVDUPDULRV\HQHOLQTXLHWRGDQ]DUGHODVVRPEUDVHQHOWHFKR
6H DYHUJRQ]³ GH OD VHQVDFL³Q GH DOLYLR TXH OH LQYDGL³ FXDQGR
3RROH UHJUHV³ DO SRFR UDWR SDUD DQXQFLDUOH TXH -HN\OO KDED
VDOLGR
ߙ+H YLVWR HQWUDU D 0VWHU +\GH SRU OD YLHMD SXHUWD TXH OOHYD DO
ODERUDWRULR \ DO TXLU³IDQR ߙGLMR 0VWHU 8WWHUVRQߙ /H HVW¡
SHUPLWLGRYHQLUFXDQGR-HN\OOQRHVW¡HQVXFDVD"
ߙ'HVGH OXHJR 0VWHU 8WWHUVRQ ߙUHSOLF³ HO PD\RUGRPRߙ 0VWHU
+\GHWLHQHOODYHGHHVDSXHUWD
ߙ$OSDUHFHUHOGRFWRUFRQIDWRWDOPHQWHHQHVHKRPEUH3RROH
ߙ6 VH±RU DV HV ߙDVHYHU³ 3RROHߙ 7RGRV WHQHPRV RUGHQ GH
REHGHFHUOH
ߙ1R FUHR KDEHU VLGR SUHVHQWDGR D 0VWHU +\GH ߙREVHUY³
8WWHUVRQ
ߙb3RU'LRVQRVH±RUߙUHSOLF³3RROHߙ1XQFDFHQDDTXQRVHOH
YHHQHVWDSDUWHGHODFDVD6RORHQWUD\VDOHSRUHOODERUDWRULR
ߙ&RPSUHQGR%XHQDVQRFKHV3RROH
ߙ%XHQDVQRFKHV0VWHU8WWHUVRQ
(ODERJDGRVHGLULJL³DVXFDVDFRQLQTXLHWXGFUHFLHQWHߡ+HQU\
-HN\OOKDGHELGRWHQHUXQDMXYHQWXGGHVHQIUHQDGDߢSHQV³ߡ&LHUWR
HVTXHGHVGHHQWRQFHVKDSDVDGRWLHPSRSHURGHDFXHUGRDODOH\
GH 'LRV ODV PDODV DFFLRQHV QR SUHVFULEHQ 7LHQH TXH VHU HVR HO
IDQWDVPDGHDOJºQDQWLJXRSHFDGRHOF¡QFHUGHDOJXQDYHUJ¼HQ]D
RFXOWD $O ILQ HO FDVWLJR OOHJD LQH[RUDEOHPHQWH D±RV GHVSX©V GH
TXHHOGHOLWRKDFDGRHQHOROYLGR\QXHVWUDSURSLDHVWLPDFL³Q\D
11/41
QRVKDSHUGRQDGRߢ
$VXVWDGRSRUVXVSHQVDPLHQWRVPHGLW³VREUHVXSURSLRSDVDGR
UHEXVFDQGRHQORVULQFRQHVGHODPHPRULDSDUDYHUVLDOJXQDIDOWD
VXUJD GH SURQWR D OD OX] FRPR VDOWD XQ PX±HFR GH UHVRUWHV GHO
LQWHULRU GH XQD FDMD GH VRUSUHVDV 3HUR VX SDVDGR YROYD OLEUH GH
FXOSDV 3RFRV KRPEUHV SRGDQ UHYLVDU VX YLGD FRQ PHQRV WHPRU
1RREVWDQWH0VWHU8WWHUVRQH[SHULPHQW³XQPDOHVWDUHQRUPHSRU
ORVHUURUHVTXHKDEDFRPHWLGR\VXFRUD]³QVHHOHY³D'LRVFRQ
JUDWLWXGSRUORVPXFKRVRWURVTXHSXGRFRPHWHU\TXHORJU³HYLWDU
0LHQWUDV VHJXD GDQGR YXHOWDV VREUH HVWH WHPD VX PHQWH VH
LOXPLQ³ FRQ XQ UD\R GH HVSHUDQ]D ߡ0VWHU +\GH GHEH WHQHU VXV
SURSLRV VHFUHWRVߢ VH GLMR ߡ6HFUHWRV KRUULEOHV D MX]JDU SRU VX
DVSHFWR VHFUHWRV DO ODGR GH ORV FXDOHV HO SHRU FULPHQ GHO SREUH
GRFWRU -HN\OO GHVDSDUHFH HQYXHOWR HQ OD OX] GHO VRO b0H UHSXJQD
SHQVDU TXH HVH VHU PDOLJQR URQGD FRPR XQ ODGU³Q DO ODGR GH
-HN\OO<FRQRFHU¡+\GHODH[LVWHQFLDGHOWHVWDPHQWR"6LORVDEH
SXHGH LPSDFLHQWDUVH SRU KHUHGDU b'HER KDFHU DOJR
LQPHGLDWDPHQWH6L-HN\OOPHSHUPLWLHUDWRPDUXQDPHGLGDߢ
8QD YH] P¡V UHJUHVDEDQ D VX PHPRULD FODUDV \ SUHFLVDV ODV
SHFXOLDUHVHVWLSXODFLRQHVGHOWHVWDPHQWR
(OGRFWRU-HN\OOVHKDOODEDWUDQTXLOR
'RVVHPDQDVGHVSX©VHOGRFWRU-HN\OOLQYLW³DFHQDUDFLQFRGH
VXVPHMRUHVDPLJRVHQWUHORVTXHVHHQFRQWUDED0VWHU8WWHUVRQ
7RGRV HUDQ LQWHOLJHQWHV GH UHSXWDFL³Q LQWDFKDEOH \ EXHQRV
FDWDGRUHVGHYLQR&XDQGRORVLQYLWDGRVVHPDUFKDURQHODERJDGR
VHODV LQJHQL³ SDUDTXHGDUVHD VRODVFRQ VXDQILWUL³Q $TXHOORQR
HUDQLQJXQDQRYHGDGDOFRQWUDULRKDEDVXFHGLGRHQLQQXPHUDEOHV
RFDVLRQHV (Q FXDQWR ORV GHVSUHRFXSDGRV \ ORV KDEODGRUHV
WUDVSRQDQ HO XPEUDO HO GRFWRU -HN\OO UHTXHUD D 0VWHU 8WWHUVRQ
*XVWDED GH SHUPDQHFHU XQ UDWR HQ VX GLVFUHWD FRPSD±D
VHUHQDQGRHOSHQVDPLHQWRHQHOIHFXQGRVLOHQFLRGHDTXHOKRPEUH
(O GRFWRU -HN\OO HUD XQ KRPEUH GH XQRV FLQFXHQWD D±RV DOWR
IRUQLGRGHURVWURDUPRQLRVRFRQXQDH[SUHVL³QDOJRDVWXWDSHUR
TXH UHYHODED LQWHOLJHQFLD \ ERQGDG 6X PLUDGD GHPRVWUDED TXH
VHQWDSRUVXDPLJRXQDIHFWRVLQFHUR
ߙ+DFH WLHPSR TXH TXHUD KDEODU FRQWLJR -HN\OO ߙOH GLMR ©VWHߙ
5HFXHUGDVHOWHVWDPHQWRTXHKLFLVWH"
8QEXHQREVHUYDGRUVHKDEUDGDGRFXHQWDGHTXHHOWHPDQRHUD
SUHFLVDPHQWHGHODJUDGRGHOTXHHVFXFKDED1RREVWDQWHHOGRFWRU
FRQWHVW³DOHJUHPHQWH
ߙb0L SREUH 8WWHUVRQ TX© PDOD VXHUWH HV SDUD WL WHQHUPH FRPR
FOLHQWH(QPLYLGDKHYLVWRDXQKRPEUHWDQSUHRFXSDGRFRPRWº
DOOHHUHVHGRFXPHQWRH[FHSWRTXL]¡VHOIDQ¡WLFRGH/DQ\RQDQWH
OR TXH ©O OODPD PLV KHUHMDV FLHQWILFDV <D \D V© TXH HV EXHQD
SHUVRQD 1R WLHQHV SDUD TX© IUXQFLU HO FH±R (V XQ KRPEUH
H[FHOHQWHDXQTXHWDPEL©QHVLJQRUDQWHHQPXFKRVVDVSHFWRV\XQ
WDQWRSHGDQWH
ߙ7ºVDEHVTXHQXQFDKHDSUREDGRWXWHVWDPHQWRߙFRQWLQX³0VWHU
8WWHUVRQKDFLHQGRFDVRRPLVRGHODVSDODEUDVGHVXDPLJR
ߙ6SRUVXSXHVWRߙDGPLWL³HOGRFWRUߙPHORKDVGLFKR
12/41
ߙ/RUHSLWRߙSURVLJXL³HODERJDGRߙ+HDYHULJXDGRFLHUWDVFRVDV
DFHUFDGH0VWHU+\GH
(O DJUDFLDGR URVWUR GH +HQU\ -HN\OO SDOLGHFL³ +DVWD VXV ODELRV
SHUGLHURQWRGRFRORU\VXVRMRVVHRVFXUHFLHURQ
ߙb1RTXLHURRUXQDVRODSDODEUDߙRUGHQ³
ߙ/RTXHPHKDQGLFKRHVDERPLQDEOHߙLQVLVWL³8WWHUVRQ
ߙ(VR QR FDPELD QDGD 1R SXHGHV HQWHQGHU HQ TX© SRVLFL³Q PH
HQFXHQWUR ߙSURWHVW³ HO GRFWRU -HN\OOߙ 0H KDOOR HQ XQD VLWXDFL³Q
GLIFLOHQXQDH[WUD±DFLUFXQVWDQFLDPX\H[WUD±D
ߙ7º PH FRQRFHV ߙGLMR 0VWHU 8WWHUVRQߙ \ VDEHV TXH VR\ XQ
KRPEUHHQHOTXHVHSXHGHFRQILDU+¡EODPHFRQWRGDIUDQTXH]D\
QRGXGHVGHTXHWHVDFDU©GHODWROODGHUR
ߙ0L TXHULGR 8WWHUVRQ WX ERQGDG PH FRQPXHYH ߙFRQIHV³ HO
GRFWRUߙ b(UHV XQ JUDQ DPLJR \ QR HQFXHQWUR SDODEUDV SDUD
DJUDGHFHU HVWD DPLVWDG 7H FUHR \ FRQILDUD HQ WL DQWHV TXH HQ
QLQJXQDRWUDSHUVRQDDQWHVTXHHQPPLVPRVLIXHUDSRVLEOH3HUR
QRHVORTXHWHLPDJLQDV3DUDTXHWHWUDQTXLOLFHVWHGLU©XQDFRVD
SXHGRGHVKDFHUPHGH0VWHU+\GHb3RUIDYRUWHUXHJRTXHQROR
WRPHVDPDOSHURVHWUDWDGHXQDVXQWRPX\SHUVRQDO\QRTXLHUR
TXHYROYDPRVDKDEODUGHHVWR
0VWHU8WWHUVRQUHIOH[LRQ³XQRVVHJXQGRVPLUDQGRDOIXHJR
ߙ(VW¡ELHQ6LQGXGDWLHQHVUD]³QߙDGPLWL³DOILQSRQL©QGRVHGH
SLH
ߙ<D TXH KHPRV WRFDGR HO WHPD SRU ºOWLPD YH] ߙSURVLJXL³ HO
GRFWRUߙ KD\ XQ SXQWR HQ HO TXH YR\ D LQVLVWLU 6LHQWR XQ JUDQ
LQWHU©VSRUHOSREUH+\GH6©TXHORKDVYLVWRPHORKDGLFKR\
PH WHPR TXH HVWXYR PX\ JURVHUR FRQWLJR 3HVH D HOOR FRQ WRGD
VLQFHULGDGWHUHLWHURTXHVLHQWRXQLQWHU©VHQRUPHSRUHVHKRPEUH
\TXLHURTXHPHSURPHWDVTXHVLPXHURVHU¡VWROHUDQWHFRQ©O\OH
D\XGDU¡V D KDFHU YDOHU VXV GHUHFKRV (VWR\ VHJXUR GH TXH QR
SRQGUDVREMHFLRQHVVLFRQRFLHUDVHOFDVRDIRQGR0HTXLWDU¡VXQ
JUDQSHVRGHHQFLPDVLPHORSURPHWHV
ߙ1RSXHGRPHQWLUGLFL©QGRWHTXHVHU¡DOJXQDYH]SHUVRQDGHPL
DJUDGR
ߙ1R HV HVR OR TXH WH SLGR ߙ(O GRFWRU -HN\OO DILUP³ XQD PDQR
VREUHHOKRPEURGHVXDPLJRߙ6RORGHVHRMXVWLFLD4XHORD\XGHV
HQPLQRPEUHFXDQGR\RQRHVW©DTX
8WWHUVRQH[KDO³XQLUUHSULPLEOHVXVSLUR
ߙ'HDFXHUGRߙVXVXUU³ߙ+DU©ORTXHPHSLGHV
13/41
(OFDVRGHODVHVLQDWRGH&DUHZ
&DVL XQ D±R GHVSX©V HQ RFWXEUH GH WRGR /RQGUHV VH
FRQPRYL³ DQWH XQ FULPHQ VLQJXODUPHQWH IHUR] FULPHQ DºQ P¡V
QRWDEOH GDGR TXH OD YFWLPD HUD XQ FDEDOOHUR GH PX\ EXHQD
SRVLFL³Q/RTXHVHVXSRIXHSRFRDXQTXHVRUSUHQGHQWH
&HUFDGHODVRQFHGHODQRFKHXQDFULDGDTXHYLYDVRODHQXQD
FDVD QR PX\ OHMRV GHO UR KDED VXELGR D VX GRUPLWRULR SDUD
DFRVWDUVH/DQHEOLQDVRODH[WHQGHUVHVREUHODFLXGDGP¡VWDUGH\
D HVD KRUD OD DWP³VIHUD HVWDED DºQ GHVSHMDGD /D FDOOH D OD TXH
GDEDODYHQWDQDGHODPXMHUVHHQFRQWUDEDLOXPLQDGDSRUODOXQD
/D FULDGD SRVLEOHPHQWH GH QDWXUDOH]D VR±DGRUD VH VHQW³ HQ XQ
EDºOFRORFDGRMXVWDPHQWHEDMRVXYHQWDQD\VHSHUGL³HQHQVXH±RV
ߙ1XQFD PH VHQW WDQ HQ SD] FRQ OD KXPDQLGDG QL SHQV© HQ HO
PXQGRFRQPD\RUVRVLHJRߙGHFODU³HQWUHDPDUJDVO¡JULPDV
0LHQWUDVVHHQFRQWUDEDHQHVWDDFWLWXGYLRDXQDQFLDQRGHSRUWH
GLVWLQJXLGR\SHORFDQRVRTXHVHDFHUFDEDSRUODFDOOH2WURVXMHWR
GHFRUWDHVWDWXUD\HQHOTXHILM³PHQRVVXDWHQFL³QFDPLQDEDHQ
GLUHFFL³QFRQWUDULD&XDQGRDPERVKRPEUHVVHFUX]DURQFRVDTXH
RFXUUL³ SUHFLVDPHQWH EDMR OD YHQWDQD HO DQFLDQR VH LQFOLQ³ \ VH
GLULJL³ DO RWUR FRQ FRUWHVD 6XSRQH TXH HO WHPD GH FRQYHUVDFL³Q
QR UHYHVWD JUDQ LPSRUWDQFLD 3DUHFD TXH HO DQFLDQR SHGD
LQGLFDFLRQHVSDUDOOHJDUDXQOXJDUGHWHUPLQDGR/DOXQDLOXPLQDED
VX URVWUR \ OD VLUYLHQWD OR REVHUY³ ELHQ PLHQWUDV KDEODED
5HVSLUDED FDEDOOHURVLGDG XQD ERQGDG LQRFHQWH \ DO PLVPR
WLHPSR DOJR PX\ HOHYDGR XQD VDWLVIDFFL³Q LQWHULRU DPSOLDPHQWH
MXVWLILFDGD6HILM³HQWRQFHVHQHORWURKRPEUH\VHVRUSUHQGL³DO
UHFRQRFHUDXQWDO0VWHU+\GHTXHHQXQDRFDVL³QKDEDYLVLWDGR
DVXDPR\SRUHOTXHVLQWL³GHLQPHGLDWRXQDSURIXQGDDQWLSDWD
/OHYDED HQ OD PDQR XQ SHTXH±R EDVW³Q FRQ HO TXH MXJXHWHDED
QHUYLRVDPHQWH1ROHUHVSRQGL³DOFDEDOOHUR\ORHVFXFK³FRQPDO
FRQWHQLGDLPSDFLHQFLD'HSURQWRHVWDOO³HQXQDH[SORVL³QGHLUD
(PSH]³DGDUSDWDGDVHQHOVXHOR\DEODQGLUHOEDVW³QHQHODLUH
SUHVR GH XQ DWDTXH GH ORFXUD (O DQFLDQR GLR XQ SDVR DWU¡V
WHPHURVRSRUODDFWLWXGGHVXLQWHUORFXWRU)XHHVHHOPRPHQWRHQ
TXH0VWHU+\GHSHUGL³HOFRQWURO\ORJROSH³KDVWDGHUULEDUOR8Q
VHJXQGR GHVSX©V FRQ OD IXULD GH XQ RUDQJXW¡Q SLVRWHDED
VDOYDMHPHQWH D VX YFWLPD FXEUL©QGROD FRQ XQD OOXYLD GH JROSHV
WDQ IXHUWHV TXH OD PXMHU R\³ HO TXHEUDUVH GH ORV KXHVRV \ HO
FXHUSR GHO LQIRUWXQDGR VH±RU IXH D SDUDU DO PHGLR GH OD FDO]DGD
$QWH HO KRUURU SURYRFDGR SRU HVWD YLVL³Q \ DTXHOORV UXLGRV OD
FULDGDVHGHVPD\³
(UDQODVGRVGHODPDGUXJDGDFXDQGRYROYL³HQV\GLRDYLVRDOD
SROLFD (O DVHVLQR KDED GHVDSDUHFLGR SHUR VX YFWLPD \DFD
GHVDUWLFXODGD HQ HO PHGLR GH OD FDOOH (O EDVW³Q FRQ HO TXH VH
FRPHWLHUD HO KRPLFLGLR DXQTXH GH XQD PDGHUD SRFR FRPºQ
H[FHSFLRQDOPHQWHSHVDGD\UHVLVWHQWHHVWDEDTXHEUDGRHQODPLWDG
EDMRHOLPSXOVRGHDTXHOODFUXHOGDGLQVHQVDWD\XQDGHVXVSDUWHV
KDED LGR D SDUDU D XQD DOFDQWDULOOD FHUFDQD /D RWUD
LQGXGDEOHPHQWHGHEDKDE©UVHODOOHYDGRHODVHVLQR(QSRVHVL³QGH
OD YFWLPD VH KDOO³ XQD FDUWHUD \ XQ UHORM GH RUR SHUR QLQJXQD
WDUMHWD R GRFXPHQWR GH LGHQWLILFDFL³Q D H[FHSFL³Q GH XQ VREUH
ODFUDGR \ IUDQTXHDGR TXH SUREDEOHPHQWH VH GLVSRQD D GHSRVLWDU
HQXQEX]³QGHFRUUHRV\TXHLEDGLULJLGRD0VWHU8WWHUVRQ
$ODPD±DQDVLJXLHQWHDQWHVGHTXHVHOHYDQWDUDVHOROOHYDURQDO
DERJDGR 1R ELHQ ILM³ HQ ©O OD YLVWD \ HVFXFK³ OD QDUUDFL³Q GHO
FDVRDQXQFL³VROHPQHPHQWH
ߙ1RGLU©QDGDKDVWDTXHKD\DYLVWRHOFDG¡YHU(ODVXQWRHVPX\
VHULR7HQJDQODDPDELOLGDGGHHVSHUDUPLHQWUDVPHYLVWR
'HVD\XQ³DSUHVXUDGDPHQWHVXEL³DVXFDUUXDMH\VHGLULJL³DOD
&RPLVDUD GH 3ROLFD GRQGH VH HQFRQWUDED HO FXHUSR 7DQ SURQWR
FRPRORREVHUY³KL]RXQJHVWRDILUPDWLYR
ߙ6ORUHFRQR]FRߙGLMRߙ6LHQWRWHQHUTXHGHFLUOHVTXHVHWUDWDGH
14/41
6LU'DQYHUV&DUHZ
ߙb6DQWR&LHORߙH[FODP³HORILFLDOߙ6HU¡SRVLEOH"ߙ<VXPLUDGD
UHIOHM³ XQ GHVWHOOR GH DPELFL³Qߙ (VWR SURYRFDU¡ XQ HVF¡QGDOR
4XL]¡VXVWHGSXHGDD\XGDUQRVDHQFRQWUDUDOFULPLQDO
'LFKRHVWRLQIRUP³GHODVGHFODUDFLRQHVGHODVLUYLHQWD\PRVWU³
ODPLWDGGHOEDVW³Q
0VWHU8WWHUVRQVHHVWUHPHFL³DORUHOQRPEUHGH0VWHU+\GH
SHURFXDQGRYLRDTXHOWUR]RGHPDGHUDQRGXG³P¡V$XQTXHURWR
\ PDOWUDWDGR UHFRQRFL³ HO EDVW³Q TXH OH KDED UHJDODGR YDULRV
D±RVDWU¡VDOGRFWRU-HN\OO
ߙ(VHVH0VWHU+\GHXQKRPEUHGHFRUWDHVWDWXUD"ߙSUHJXQW³
ߙ6HJºQ OD FULDGD HV PX\ EDMR \ GH DVSHFWR HQ H[WUHPR
GHVDJUDGDEOHߙUHVSRQGL³HORILFLDO
ߙ6LTXLHUHDFRPSD±DUPHSXHGRFRQGXFLUORDVXFDVDRILFLDO
(UDQ DOUHGHGRU GH ODV QXHYH GH OD PD±DQD \ KDEDQ FRPHQ]DGR
ODVEUXPDVGHODHVWDFL³Q8QPDQWRFRORUFKRFRODWHGHVFHQGDGHO
FLHOR SHUR HO YLHQWR DWDFDED \ OR GLVSHUVDED FRQWLQXDPHQWH $V
PLHQWUDV HO FRFKH DYDQ]DED GH FDOOH HQ FDOOH 0VWHU 8WWHUVRQ
FRQWHPSODED XQD LQILQLGDG GH PDWLFHV \ JUDGRV GH XQD OX] FDVL
FUHSXVFXODUDTXXQDRVFXULGDGVHPHMDQWHDORP¡VUHF³QGLWRGHOD
QRFKH DOO¡ XQ IXOJRU URMR LQWHQVR YLYR FRPR HO UHIOHMR GH XQ
H[WUD±RLQFHQGLR/XHJRSRUXQPRPHQWRODQLHEODVHGLVLSDED\
XQ G©ELO UD\R GH OX] VH DEUD SDVR HQWUH ORV LQTXLHWRV MLURQHV GH
YDSRU(OPLVHUDEOHEDUULRGHO6RKRLOXPLQDGRSRUHVWRVGHVWHOORV
FDPELDQWHVFRQVXVFDOOHVIDQJRVDVVXVWUDQVHºQWHVGHVDOPDGRV\
ORVIDUROHVQRDSDJDEDQRKDEDQYXHOWRDHQFHQGHUSDUDFRPEDWLU
HVDQXHYDLQYDVL³QGHVRPEUDVSDUHFDDORVRMRVGHODERJDGRXQ
PXQGRGHSHVDGLOOD6XVSHQVDPLHQWRVHUDQSRURWUDSDUWHORVP¡V
QHJURV TXH FDEH LPDJLQDU \ FXDQGR PLUDED D VX FRPSD±HUR GH
YLDMHVHQWDHVHHVFDORIURGHWHUURUTXHODOH\\VXVDJHQWHVVXHOHQ
GHVSHUWDUHQFLHUWDVRFDVLRQHVLQFOXVRHQWUHORVP¡VKRQUDGRV
(Q HO PRPHQWR HQ TXH HO FDUUXDMH VH GHWXYR HQ OD GLUHFFL³Q
LQGLFDGDODQLHEODVHGLVLS³OLJHUDPHQWHSDUDPRVWUDUXQDFDVDHQ
PDO HVWDGR XQD WDEHUQD XQ FXFKLWULO GRQGH VH YHQGDQ EDUDWLMDV
QL±RV KDUDSLHQWRV FRELMDGRV HQ ORV TXLFLRV GH ODV SXHUWDV \
PXMHUHV GH GLYHUVDV QDFLRQDOLGDGHV TXH VH GLULJDQ D WRPDU VX
WUDJRGHODPD±DQD
8QRV PLQXWRV GHVSX©V OD QHEOLQD YROYL³ D FDHU VREUH HO 6RKR
DLVODQGR D 0VWHU 8WWHUVRQ GH VX PVHUR HQWRUQR O \ VX
DFRPSD±DQWH VH KDOODEDQ DQWH OD FDVD GHO SURWHJLGR GHO GRFWRU
-HN\OO HO SUHVXQWR KHUHGHUR GH P¡V GH XQ FXDUWR GH PLOO³Q GH
OLEUDVHVWHUOLQDV
$EUL³ OD SXHUWD XQD PXMHU GH FDEHOORV HQWUHFDQRV \ URVWUR
PDUILOH±R 6X H[SUHVL³Q HUD PDOLJQD DWHQXDGD SRU OD KLSRFUHVD
SHURVXVPRGDOHVHUDQH[FHOHQWHV$VHYHU³TXHHVDHUDODFDVDGH
0VWHU +\GH \ TXH HO VH±RU QR HVWDED /D QRFKH DQWHULRU KDED
UHJUHVDGR GH PDGUXJDGD SDUD VDOLU GH QXHYR XQD KRUD GHVSX©V
6RVWXYR TXH 0VWHU +\GH QR WHQD QDGD GH UDUR VDOYR XQDV
FRVWXPEUHVXQWDQWRLUUHJXODUHV\TXHVDODFRQIUHFXHQFLD3DVDED
XQRRGRVPHVHVVLQYROYHUDODFDVD
ߙ0X\ELHQFRQGº]FDQRVDVXVDSRVHQWRVߙGLMR0VWHU8WWHUVRQ
<FXDQGRODPXMHUWUDW³GHQHJDUVHFRQWLQX³ߙ(VWHFDEDOOHURHVHO
LQVSHFWRU1HZFRPHUGH6FRWODQG<DUG
8QDERPLQDEOHUD\RGHDOERUR]RLOXPLQ³HOURVWURGHODPXMHUߙ
b$KDOILQVHKDPHWLGRHQXQORߙH[FODP³ߙ4X©KL]R"
0VWHU8WWHUVRQ\HOLQVSHFWRULQWHUFDPELDURQXQDPLUDGD
ߙ1RSDUHFHWHQHUOHPXFKDHVWLPDFL³QߙREVHUY³HOSROLFD/XHJR
SURVLJXL³ߙ3HUPWDQRVHFKDUXQYLVWD]RDORVDSRVHQWRVGH0VWHU
+\GH
'H WRGD OD FDVD HQ OD TXH YLYD VRODPHQWH OD VLUYLHQWD 0VWHU
+\GH RFXSDED QDGD P¡V TXH XQ SDU GH KDELWDFLRQHV DPREODGDV
FRQ H[TXLVLWR JXVWR \ OXMR 7HQD XQD GHVSHQVD OOHQD GH YLQR OD
YDMLOOD HUD GH SODWD ORV PDQWHOHV ILQVLPRV GH XQD SDUHG FROJDED
XQFXDGURGHDOWRYDORU\ODVDOIRPEUDVHUDQJUXHVDV\GHFRORUHV
15/41
DJUDGDEOHV D OD YLVWD 6LQ HPEDUJR GDED OD VHQVDFL³Q GH TXH
DOJXLHQ KDED SDVDGR SRU DOO D WRGD SULVD UHYROYLHQGR KDVWD HO
ºOWLPR ULQF³Q 'LVHPLQDGDV HQ HO SLVR VH YHDQ SUHQGDV GH YHVWLU
FRQORVEROVLOORVYXHOWRVKDFLDIXHUDORVFDMRQHVHVWDEDQDELHUWRV
\ HQ OD FKLPHQHD XQ PRQW³Q GH FHQL]DV UHYHODED TXH DOJXLHQ
KDEDHVWDGRTXHPDQGRSDSHOHV
'H HQWUH HVWRV UHVWRV HO LQVSHFWRU GHVHQWHUU³ XQ WDORQDULR GH
FKHTXHV TXH KDED HVFDSDGR D OD DFFL³Q GHO IXHJR \ GHWU¡V GH OD
SXHUWDHQFRQWU³ODRWUDPLWDGGHOEDVW³Q&RQHVWRFRQILUPDEDVXV
VRVSHFKDV \ HO SROLFD VH PRVWU³ FRQWHQWR FRQ HO KDOOD]JR 8QD
YLVLWD DO %DQFR HQ HO TXH DYHULJXDURQ TXH HO SUHVXQWR DVHVLQR
WHQD GHSRVLWDGRV YDULRV PLOHV GH OLEUDV DFDE³ GH VDWLVIDFHU OD
FXULRVLGDGGHOLQVSHFWRU1HZFRPHU
ߙ&U©DPH0VWHU8WWHUVRQGHVGH\DSXHGHFRQVLGHUDUGHWHQLGRD
+\GHߙDVHJXU³ߙ'HEHKDEHUSHUGLGRODFDEH]DRQRKDEUDGHMDGR
ODPLWDGGHVXEDVW³QHQXQVLWLRWDQI¡FLOGHHQFRQWUDU7DPSRFR
GHEL³ TXHPDU HO WDORQDULR GH FKHTXHV 'LQHUR HV OR TXH YD D
QHFHVLWDUHQHVWRVPRPHQWRV6RORWHQHPRVTXHHVSHUDUDTXHSDVH
SRUHO%DQFRSDUDSURFHGHUDVXGHWHQFL³Q
6LQHPEDUJRHVWRQRUHVXOW³WDQI¡FLOFRPRHOSROLFDORSURPHWD
0VWHU+\GHWHQDPX\SRFRVFRQRFLGRVQLIDPLOLDUHVQLDPLJRV
(ODPRGHODFULDGDTXHKDEDSUHVHQFLDGRHOFULPHQVRORORKDED
YLVWR XQ SDU GH YHFHV 7DPSRFR H[LVWDQ IRWRJUDIDV VX\DV \ ORV
SRFRV TXH SXGLHURQ GHVFULELUOR GLHURQ YHUVLRQHV FRQWUDGLFWRULDV
VREUH VX DSDULHQFLD FRPR VXHOH RFXUULU FXDQGR VH WUDWD GH
REVHUYDGRUHVQRSURIHVLRQDOHV7RGRVFRLQFLGLHURQºQLFDPHQWHHQ
XQSXQWRHVDVHQVDFL³QGHUHSXJQDQFLDTXHHOIXJLWLYRGHVSHUWDED
HQTXLHQORYHD
(OHSLVRGLRGHODFDUWD
(UD\DDYDQ]DGDODWDUGHFXDQGR0VWHU8WWHUVRQOOHJ³DODFDVD
GHO GRFWRU -HN\OO (O PD\RUGRPR 3RROH OR UHFLEL³ \ OR FRQGXMR D
WUDY©VGHODVGHSHQGHQFLDVGHVHUYLFLR\GHOSDWLRTXHDQWHVIXHUD
MDUGQ KDVWD HO HGLILFLR TXH VH FRQRFD FRPR ODERUDWRULR R
TXLU³IDQR(OGRFWRUKDEDFRPSUDGRODFDVDDORVKHUHGHURVGHXQ
FLUXMDQRIDPRVR\SRUHQFDPLQDUVHVXVLQFOLQDFLRQHVP¡VKDFLDOD
LQYHVWLJDFL³Q TXH D OD DQDWRPD FDPEL³ HO GHVWLQR GH OD
FRQVWUXFFL³QTXHVHDO]DEDDOIRQGRGHOMDUGQ
8WWHUVRQSLVDEDSRUSULPHUDYH]HVDSDUWHGHODYLYLHQGDGHVX
DPLJR &RQ FXULRVLGDG REVHUY³ DTXHO VRPEUR HGLILFLR VLQ
YHQWDQDV\XQDYH]GHQWURGH©OSDVH³ODPLUDGDSRUDTXHOODVDOD
DQWHVSREODGDGHHVWXGLDQWHV¡YLGRVGHHQWHQGHU\DKRUDVROLWDULD\
VLOHQFLRVD /DV PHVDV FDUJDGDV GH DSDUDWRV SDUD OD LQYHVWLJDFL³Q
TXPLFDODVFDMDVGHPDGHUDODSDMDGHHPEDODUGHVSDUUDPDGDSRU
HOVXHOR\ODOX]TXHVHILOWUDEDDWUDY©VGHODFºSXODQHEXORVDOH
SURGXFDQ XQD GHVDJUDGDEOH VHQVDFL³Q $O IRQGR XQD HVFDOHUD
VXED KDVWD XQD SXHUWD WDSL]DGD HQ ILHOWUR URMR FX\R XPEUDO
WUDVSXVR DO ILQ 0VWHU 8WWHUVRQ SDUD HQWUDU HQ HO JDELQHWH GHO
GRFWRU-HN\OO(UDXQDKDELWDFL³QJUDQGHURGHDGDGHDUPDULRVFRQ
SXHUWDVGHFULVWDO\DPREODGDHQWUHRWUDVFRVDVFRQXQHVSHMRGH
FXHUSRHQWHUR\XQHVFULWRULR6HDEUDKDFLDHOSDWLRSRUPHGLRGH
WUHVYHQWDQDVFRQEDUURWHV\YLGULRVOOHQRVGHSROYR(OIXHJRDUGD
HQODFKLPHQHD\VREUHODUHSLVDKDEDXQDO¡PSDUDHQFHQGLGD\D
TXH KDVWD HQ HO LQWHULRU GH ODV FDVDV FRPHQ]DED D DFXPXODUVH OD
QHEOLQD
$OODOFDORUGHOIXHJRHVWDEDVHQWDGRHOGRFWRU-HN\OO\SDUHFD
PRUWDOPHQWHHQIHUPR1RVHOHYDQW³SDUDUHFLELUDVXDPLJRVLQR
TXH OR VDOXG³ FRQ XQ OHYH JHVWR GH OD PDQR \ FRQ XQD YR]
LUUHFRQRFLEOH
16/41
ߙ6DEHV OD QRWLFLD" ߙSUHJXQW³ 0VWHU 8WWHUVRQ HQ FXDQWR 3RROH
DEDQGRQ³ODKDELWDFL³Q
(OGRFWRUVHHVWUHPHFL³
ߙ6ODKDQHVWDGRJULWDQGRORVYHQGHGRUHVGHSHUL³GLFRVSRUODV
FDOOHV/DHVFXFK©GHVGHHOFRPHGRU
ߙ&DUHZHUDFOLHQWHPRSHURWDPEL©QORHUHVWº\QHFHVLWRTXH
PHGLJDVODYHUGDGVREUHORVXFHGLGRߙH[LJL³HODERJDGRߙ(UHV
OREDVWDQWHORFRFRPRSDUDRFXOWDUDHVHKRPEUH"
ߙb8WWHUVRQWHORMXURSRU'LRVߙH[FODP³HOGRFWRUߙb7HORMXUR
SRUORP¡VVDJUDGRTXHQRYROYHU©DYHUORQXQFDP¡Vb7HGR\PL
SDODEUD GH FDEDOOHUR GH TXH +\GH KD VDOLGR GH PL YLGD SDUD
VLHPSUH<WHDVHJXURTXH©OQRGHVHDTXHORD\XGH(VW¡DVDOYR\
QRVHVDEU¡P¡VGH©O
(O DERJDGR HVFXFKDED VRPEUR 1R OH JXVWDED OD DSDULHQFLD
DILHEUDGDGHVXDPLJR
ߙ3DUHFHVPX\VHJXURGH©OߙPXUPXU³ߙ\SRUWXELHQGHVHRTXH
QRWHHTXLYRTXHV6LKD\XQMXLFLRWXQRPEUHSXHGHVDOLUDUHOXFLU
ߙ(VWR\ FRQYHQFLGR GH OR TXH GLJR ߙUHSOLF³ -HN\OOߙ 7HQJR
UD]RQHVSDUDKDFHUHVWDDILUPDFL³QUD]RQHVTXHQRSXHGRFRQILDU
DQDGLH3HURVKD\XQDFRVDVREUHODTXHGHEHVDFRQVHMDUPH+H
UHFLELGRXQDFDUWD\QRV©VLPRVWU¡UVHODRQRDOD3ROLFD4XLHUR
GHMDUHODVXQWRHQWXVPDQRV8WWHUVRQWºMX]JDU¡VFRQSUXGHQFLD
ߙ7HPHV TXH SXHGD FRQGXFLU D VX GHWHQFL³Q" ߙSUHJXQW³ HO
DERJDGR
ߙ1RODYHUGDGHVTXH\DQRPHLPSRUWDORTXHOHVXFHGHD+\GH
ߙIXH OD UHVSXHVWDߙ 3RU OR TXH D P UHVSHFWD KD PXHUWR 6ROR
SHQVDEDHQPLUHSXWDFL³QTXHHVWHKRUULEOHDVXQWRSRGUDSRQHUHQ
SHOLJUR
0VWHU 8WWHUVRQ UXPL³ ODV SDODEUDV GH VX DPLJR XQRV LQVWDQWHV
/RVRUSUHQGDHOHJRVPRTXHHQFHUUDEDQ\ORDOLYLDEDDOPLVPR
WLHPSR
ߙ%XHQRPX©VWUDPHODFDUWD
/DPLVLYDHVWDEDHVFULWDFRQXQDFDOLJUDIDUDUDH[WUHPDGDPHQWH
SXQWLDJXGD \ OOHYDED OD ILUPD GH (GZDUG +\GH (Q W©UPLQRV
FRQFLVRV H[SUHVDED TXH VX EHQHIDFWRU HO GRFWRU +HQU\ -HN\OO QR
GHEDSUHRFXSDUVHSRUVXVHJXULGDGSXHVGLVSRQDGHPHGLRVSDUD
HVFDSDU \ SHGD SHUG³Q SRU HO PDO SDJR GDGR D ODV PLO
JHQHURVLGDGHV UHFLELGDV $ 8WWHUVRQ OH JXVW³ OD FDUWD 'DED D
DTXHOODUHODFL³QPHMRUHVYLVRVGHORTXH©OHVSHUDED
ߙ7LHQHVHOVREUH"ߙLQGDJ³
ߙ/R KH TXHPDGR VLQ GDUPH FXHQWD GH OR TXH KDFD ߙUHSOLF³
-HN\OOߙ3HURQRWUDDPDWDVHOORV9LQRDGHMDUODXQPHQVDMHUR
ߙ0HSHUPLWHVJXDUGDUOD\FRQVXOWDUFRQPLDOPRKDGD"ߙLQGDJ³
8WWHUVRQ
ߙ3RUFLHUWR'HFLGHSRUP
ߙ/R SHQVDU© ߙUHVSRQGL³ HO DERJDGRߙ < DKRUD XQD FRVD P¡V
)XH+\GHTXLHQWHGLFW³ORVW©UPLQRVGHOWHVWDPHQWRFRQUHVSHFWR
DWXGHVDSDULFL³Q"
(OGRFWRUDSUHW³ORVODELRV\DVLQWL³
ߙ/RVDEDߙFRQIHV³8WWHUVRQߙ(VHKRPEUHWHQDODLQWHQFL³QGH
DVHVLQDUWHb7HKDVOLEUDGRSRUPLODJUR
ߙ3RVLEOHPHQWH\GHHVWDH[SHULHQFLDKHVDFDGRXQDOHFFL³QPX\
LPSRUWDQWHߙUHFDSDFLW³HOGRFWRUVROHPQHPHQWHߙb4X©OHFFL³QKH
DSUHQGLGR8WWHUVRQ
$OPDUFKDUVHHODERJDGRVHGHWXYRDLQWHUFDPELDUXQDVSDODEUDV
FRQ3RROH
ߙ9LQRKR\XQPHQVDMHURDGHMDUXQDFDUWD"
ߙ1R VH±RU OR TXH OOHJ³ IXH SRU HO FRUUHR \ HUDQ ºQLFDPHQWH
FLUFXODUHV
/D UHVSXHVWD GH 3RROH UHDFWLY³ ORV WHPRUHV GHO DERJDGR /H
TXHGDED HQ FODUR TXH OD PLVLYD WHQD TXH KDEHU OOHJDGR SRU OD
SXHUWDGHOODERUDWRULRVLQSDVDUSRUODVPDQRVGHOPD\RUGRPRQL
GHRWURVVLUYLHQWHV
&XDQGR VDOL³ GH OD FDVD ORV YHQGHGRUHV GH GLDULRV SUHJRQDEDQ
17/41
SRU ODV FDOOHV ߡb(GLFL³Q HVSHFLDO b0LHPEUR GHO SDUODPHQWR
YFWLPDGHXQKRUULEOHDVHVLQDWRb(GLFL³QHVSHFLDOb$VHVLQDGR6LU
'DQYHUV&DUHZߢ
$TXHOOD HUD XQD RUDFL³Q IºQHEUH SRU VX DPLJR \ FOLHQWH \ DO
RUOD0VWHU8WWHUVRQQRSXGRHYLWDUHOWHPRUGHTXHODUHSXWDFL³Q
GH-HN\OOFD\HUDYFWLPDGHOUHPROLQRTXHOHYDQWDUDHOHVF¡QGDOR
/D GHFLVL³Q TXH GHED WRPDU HUD H[WUHPDGDPHQWH GHOLFDGD \
DXQTXH HUD KRPEUH TXH JHQHUDOPHQWH VH EDVWDED D V PLVPR HQ
DTXHOODRFDVL³QVLQWL³ODQHFHVLGDGGHSHGLUFRQVHMR
$O SRFR UDWR VH HQFRQWUDED HQ VX FDVD VHQWDGR FHUFD GH OD
FKLPHQHD 0VWHU *XHVW VX D\XGDQWH IUHQWH D ©O (QWUH DPERV D
XQD FDOFXODGD GLVWDQFLD GHO IXHJR KDED XQD ERWHOOD GH YLQR
VDELDPHQWHHQYHMHFLGRTXHGXUDQWHPXFKRWLHPSRSHUPDQHFL³HQ
OD RVFXULGDG GH OD ERGHJD /D QHEOLQD VXPHUJD HQ VX YDSRU D OD
FLXGDG GH /RQGUHV \ ODV OXFHV GH ORV IDUROHV EULOODEDQ FRPR
UXEHV PLHQWUDV OD YLGD VHJXD FLUFXODQGR SRU ODV DUWHULDV FRQ XQ
UHWXPEDU VRUGR VHPHMDQWH D XQ YHQGDYDO (O IXHJR DOHJUDED OD
KDELWDFL³Q \ GHQWUR GH OD ERWHOOD ORV ¡FLGRV TXH VH KDEDQ
GHVFRPSXHVWRDORODUJRGHORVD±RVRIUHFDQXQFRORUGXOFLILFDGR
FRQHOWLHPSRGLIXPLQDGRFRPRORVWRQRVHQODVYLGULHUDVFRPR
HO UHVSODQGRU GH ODV F¡OLGDV WDUGHV RWR±DOHV HQ ORV YL±HGRV GH ODV
ODGHUDV HQ HVSHUD SDUD VDOLU D OD OX] \ GLVSHUVDU ODV EUXPDV
ORQGLQHQVHV,QVHQVLEOHPHQWH0VWHU8WWHUVRQVHIXHDEODQGDQGR
(QSRFRVKRPEUHVFRQILDEDWDQWRVVHFUHWRVFRPRHQVXD\XGDQWH
QXQFDHVWDEDVHJXURGHRFXOWDUOHORTXHGHVHDED*XHVWKDEDLGR
HQ YDULDV RFDVLRQHV SRU DVXQWRV GH QHJRFLRV D FDVD GHO GRFWRU
-HN\OO&RQRFDD3RROH\VHJXUDPHQWHWHQDTXHKDEHUHVFXFKDGR
KDEODU GH OD IDPLOLDULGDG FRQ TXH +\GH HUD UHFLELGR HQ HVD FDVD
1RHUDO³JLFRTXHYLHUDODFDUWD"<VREUHWRGRSRUVHU*XHVWXQ
JUDQDILFLRQDGRDODJUDIRORJDQRFRQVLGHUDUDODFRQVXOWDQDWXUDO
\ KDODJDGRUD" 6X HPSOHDGR HUD SRU D±DGLGXUD XQ KRPEUH
KDELWXDGRDGDUFRQVHMRV\VHUDUDURTXHOH\HUDHOGRFXPHQWRVLQ
GHMDUFDHUDOJXQDREVHUYDFL³Q
ߙ(V WULVWH OR TXH OH VXFHGL³ D 6LU 'DQYHUV &DUHZ ߙFRPHQW³
0VWHU8WWHUVRQSDUDDEULUHOWHPD
ߙ6 VH±RU KD GHVSHUWDGR OD LQGLJQDFL³Q JHQHUDO ߙUHVSRQGL³
*XHVWߙ(ODVHVLQRGHEHHVWDUORFR
ߙ3UHFLVDPHQWH VREUH HVR TXHUD SUHJXQWDUOH VX RSLQL³Q ߙ
SURVLJXL³8WWHUVRQߙ7HQJRXQGRFXPHQWRGHVXSX±R\OHWUD3RU
IDYRUTXHTXHGHHVWRHQWUHXVWHG\\RHVWLPDGR*XHVWSRUTXHOD
YHUGDG HV TXH QR V© TX© KDFHU (V DOJR TXH YD D LQWHUHVDUOH XQD
QRWDDXW³JUDIDGHXQDVHVLQR
/RVRMRVGH*XHVWUHVSODQGHFLHURQHLQPHGLDWDPHQWHVHVHQW³D
HVWXGLDUODFDUWDFRQYHUGDGHUDSDVL³Q
ߙ1RVH±RUQRHVW¡ORFRߙGHFUHW³ߙSHURODOHWUDHVUDUVLPD
ߙ7DQUDUDFRPRHOTXHKDHVFULWRODPLVLYDߙD±DGL³HODERJDGR
(QHVWHPRPHQWRHQWU³XQODFD\RWUD\HQGRXQDHVTXHOD
ߙ(V GHO GRFWRU -HN\OO VH±RU" ߙDYHULJX³ *XHVW HQ FXDQWR HO
VLUYLHQWHVHPDUFK³
ߙ6HVXQDLQYLWDFL³QDFHQDU3RUTX©"/HLQWHUHVD"
ߙ4XLHURPLUDUODVRORXQPRPHQWR*UDFLDVVH±RU
(OD\XGDQWHSXVRODVGRVPLVLYDVODHVFULWDSRU0VWHU+\GH\OD
GHO GRFWRU -HN\OO XQD MXQWR D OD RWUD \ FRPSDU³ VX FRQWHQLGR
PHWLFXORVDPHQWH6HKL]RXQDODUJDSDXVDGXUDQWHODFXDO0VWHU
8WWHUVRQVRVWXYRXQDOXFKDFRQVLJRPLVPR
ߙ3RUTX©ODVFRPSDUD*XHVW"ߙLQGDJ³DOILQ
ߙ(VDOJRPX\LQWHUHVDQWHVH±RUߙFRQWHVW³HOD\XGDQWHߙ+D\XQD
VLPLOLWXG PX\ VLQJXODU /DV GRV FDOLJUDIDV VRQ LG©QWLFDV HQ
PXFKRVDVSHFWRV6RORGLILHUHHOVHVJRGHODHVFULWXUD
ߙb4X©H[WUD±RߙH[FODP³8WWHUVRQ
ߙ6FRPRXVWHGGLFHHVVXPDPHQWHH[WUD±RߙDVLQWL³*XHVW
ߙ1RKD\TXHFRPHQWDUHVWRFRQQDGLHߙRUGHQ³8WWHUVRQ
ߙb3RU VXSXHVWR TXH QR ߙUHSOLF³ HO D\XGDQWHߙ &RPSUHQGR PX\
ELHQVH±RU
18/41
$SHQDV VH TXHG³ VROR 0VWHU 8WWHUVRQ JXDUG³ DTXHOORV
GRFXPHQWRVHQVXFDMDIXHUWH
ߡb'LRV PRߢ VH GLMR ߡb+HQU\ KD IDOVLILFDGR XQD FDUWD SDUD
VDOYDUDXQDVHVLQRߢ
6LQWL³TXHODVDQJUHVHOHKHODEDHQODVYHQDV
/DH[WUD±DDYHQWXUDGHOGRFWRU/DQ\RQ
3DV³HOWLHPSR6HRIUHFLHURQPLOOLEUDVGHUHFRPSHQVDDFDPELR
GHXQDLQIRUPDFL³QTXHSXGLHUDFRQGXFLUDODFDSWXUDGHODVHVLQR
\D TXH OD PXHUWH GH 6LU 'DQYHUV &DUHZ VH FRQVLGHU³ XQD DIUHQWD
SºEOLFD3HUR0VWHU+\GHKDEDHVFDSDGRGHODOFDQFHGHODSROLFD
FRPR VL QXQFD KXELHUD H[LVWLGR *UDQ SDUWH GH VX SDVDGR
DERPLQDEOHVDOL³DIORWH6XUJLHURQDODOX]KLVWRULDVGHODFUXHOGDG
GHDTXHOKRPEUHDODYH]LQVHQVLEOH\YLROHQWRGHVXYLGDLQIDPH
GH VXV GXGRVDV DPLVWDGHV GHO RGLR TXH DO SDUHFHU OR URGH³
VLHPSUH1RREVWDQWHQDGDVHDYHULJX³VREUHVXSDUDGHUR'HVGH
DTXHOODPDGUXJDGDHQTXHVDOL³GHVXFDVDHQHO6RKRVHHYDSRU³
\JUDGXDOPHQWHFRQIRUPHSDVDEDHOWLHPSR0VWHU8WWHUVRQIXH
ROYLGDQGR VXV DQWLJXRV WHPRUHV \ UHFXSHUDQGR OD SD] LQWHULRU
3HQVDED TXH OD PXHUWH GH 6LU 'DQYHUV VH FRPSHQVDED FRQ OD
GHVDSDULFL³QGH0VWHU+\GH
$GHP¡VXQDYH]GHVYDQHFLGDDTXHOODPDODLQIOXHQFLDXQDYLGD
QXHYDFRPHQ]³SDUDHOGRFWRU-HN\OO6DOL³GHVXHQFLHUURUHDQXG³
ODDPLVWDGTXHOHXQDDVXVYLHMRVFRPSD±HURVIXHXQDYH]P¡V
KX©VSHG\DQILWUL³Q\VLVLHPSUHKDEDVLGRIDPRVRSRUVXVREUDV
GH EHQHILFHQFLD DKRUD SULQFLSL³ D GLVWLQJXLUVH WDPEL©Q SRU VX
GHYRFL³Q6XURVWURSDUHFDP¡VIUHVFR\VXPLUDGDP¡VOXPLQRVD
LQWHULRUPHQWHVHGDEDFXHQWDGHTXHHUDºWLO\GXUDQWHGRVPHVHV
YLYL³HQSD]
(O GD GH HQHUR 0VWHU 8WWHUVRQ FRPL³ GRQGH -HN\OO FRQ XQ
SHTXH±RJUXSRGHLQYLWDGRV(OGRFWRU/DQ\RQHVWXYRSUHVHQWH\
ORV RMRV GH VX DQILWUL³Q LEDQ GHO XQR DO RWUR FRPR HQ WLHPSRV
SDVDGRVFXDQGRORVWUHVHUDQDPLJRVLQVHSDUDEOHV3HURHOGD
\WDPEL©QHOHODERJDGRQRIXHUHFLELGRSRU+HQU\-HN\OO
ߙ(OVH±RUTXLHUHHVWDUVRORߙLQIRUP³3RROHߙ1RUHFLEHDQDGLH
(O GD VH OH QHJ³ QXHYDPHQWH OD HQWUDGD 3RU KDEHUVH
19/41
DFRVWXPEUDGRHQORVGRVºOWLPRVPHVHVDYHUD-HN\OOFDVLDGLDULR
HVWD YXHOWD D OD VROHGDG OR HQWULVWHFL³ $ OD TXLQWD QRFKH LQYLW³ D
FHQDUD*XHVW\DODVH[WDIXHDYLVLWDUD/DQ\RQ
$OOVHOHDEULHURQGHLQPHGLDWRODVSXHUWDVSHURTXHG³DW³QLWRDO
YHU HO LQV³OLWR FDPELR TXH VH KDED SURGXFLGR HQ VX DPLJR (Q
IRUPD FODUDPHQWH OHJLEOH SDUHFD OOHYDU LPSUHVD HQ VX URVWUR XQD
VHQWHQFLD GH PXHUWH (O KRPEUH DQWHV DUUHERODGR VH YHD S¡OLGR
QRWRULDPHQWHPXFKRP¡VGHOJDGRP¡VFDOYR\YLVLEOHPHQWHP¡V
HQYHMHFLGR 6LQ HPEDUJR QR IXHURQ HVWDV UHSHQWLQDV PXHVWUDV GH
GHFDGHQFLD IVLFD OR TXH DWUDMR HVSHFLDOPHQWH OD DWHQFL³Q GHO
DERJDGR VLQR OD PLUDGD GH /DQ\RQ \ DOJR HQ VXV JHVWRV TXH
SDUHFDUHYHODUXQWHUURUSURIXQGR$XQTXHHUDPX\SRFRSUREDEOH
TXH HO GRFWRU /DQ\RQ WXYLHUD PLHGR D PRULU IXH OR TXH 0VWHU
8WWHUVRQVHLQFOLQ³DVRVSHFKDU
ߡO HV P©GLFRߢ VH GLMR ߡ+DEU¡ GHVFXELHUWR GH SURQWR TXH VXV
GDVHVW¡QFRQWDGRV\HVWRHVVXSHULRUDVXVIXHU]DVߢ
1R REVWDQWH FXDQGR 8WWHUVRQ OH KL]R UHIHUHQFLD GH VX PDO
DVSHFWR/DQ\RQGHFODU³FRQJUDQHQWHUH]DVHUKRPEUHFRQGHQDGR
DPXHUWH
ߙ+HVXIULGRXQJROSHGHOTXHQRPHUHSRQGU©MDP¡VߙFRQIHV³ߙ
(V FXHVWL³Q GH VHPDQDV /D YLGD KD VLGR DJUDGDEOH \ \R KH
GLVIUXWDGRYLYLHQGR3HURDYHFHVSLHQVRTXHVLVXSL©UDPRVWRGR
QRQRVLPSRUWDUDDEDQGRQDUHVWHPXQGR
ߙ-HN\OOWDPEL©QHVW¡HQIHUPRߙREVHUY³8WWHUVRQߙ/RKDVYLVWR"
ߙ/DQ\RQFDPEL³GHH[SUHVL³Q\OHYDQW³XQDPDQRWHPEORURVD
ߙb1R TXLHUR YHUOR QXQFD P¡V QL YROYHU D KDEODU GH ©O ߙDILUP³
FRQYR]DOWD\HQWUHFRUWDGDߙ+HWHUPLQDGRWRGDUHODFL³QFRQHVD
SHUVRQD\WHUXHJRTXHQRYXHOYDVDPHQFLRQDUVXQRPEUHHQPL
SUHVHQFLD3RUORTXHDPUHVSHFWDGHM³GHH[LVWLU
ߙb6DQWR FLHOR ߙH[FODP³ 8WWHUVRQ < OXHJR WUDV XQD SDXVD
LQGDJ³ߙ 3XHGR KDFHU DOJR SRU WL" 1RV FRQRFHPRV GHVGH KDFH
PXFKRV D±RV /DQ\RQ \ \D QR HVWDPRV HQ HGDG GH DPLVWDGHV
QXHYDV
ߙ1RSXHGHVKDFHUQDGDߙFRQWHVW³/DQ\RQߙ3UHJºQWDOHD©O
ߙ1RTXLHUHYHUPH
ߙ1RPHVRUSUHQGHORP¡VPQLPRߙIXHODUHVSXHVWDߙ$OJºQGD
8WWHUVRQ FXDQGR \R QR HVW© \D DTX TXL]¡V OOHJXHV D VDEHU OD
YHUGDGGHORRFXUULGR$KRUDQRSXHGRGHFUWHOR3HURHQWUHWDQWR
V SRGHPRV KDEODU GH RWUDV FRVDV b3RU IDYRU TX©GDWH \
FRQYHUVHPRV $KRUD VL WH HPSH±DV HQ LQVLVWLU HQ HVWH PDOGLWR
DVXQWRODPHQW¡QGRORWHQGU©TXHSHGLUWHTXHWHYD\DVVR\LQFDSD]
GHVRSRUWDUOR
7DQSURQWRFRPROOHJ³DVXFDVD0VWHU8WWHUVRQVHVHQW³DQWHVX
HVFULWRULR \ OH HVFULEL³ XQD FDUWD DO GRFWRU -HN\OO (Q HOOD VH
TXHMDEDGHVXUHSHQWLQRGLVWDQFLDPLHQWR\OHSUHJXQWDEDODFDXVD
GH VX UXSWXUD FRQ /DQ\RQ $O GD VLJXLHQWH UHFLEL³ XQD ODUJD
UHVSXHVWD UHGDFWDGD HQ W©UPLQRV D YHFHV SDW©WLFRV \ D YHFHV
RVFXUDPHQWHPLVWHULRVRV(OILQDOGHODDPLVWDGFRQ/DQ\RQHUDDO
SDUHFHULUUHYHUVLEOH
ߡ1R FXOSR D QXHVWUR YLHMR DPLJR SHUR FRPSDUWR VX RSLQL³Q GH
TXH QR GHEHPRV YROYHU D YHUQRVߢ H[SOLFDED -HN\OO ߡ'H KR\ HQ
DGHODQWH KH GHFLGLGR XQD YLGD GH H[WUHPR DLVODPLHQWR 1R WLHQHV
TXHVRUSUHQGHUWHQLGXGDUGHPLDPLVWDGVLPLSXHUWDVHWHFLHUUD
HQDOJXQDVRFDVLRQHV'HEHVSHUPLWLUTXHVLJDPLFDPLQR6LVR\
HOPD\RUGHORVSHFDGRUHVWDPEL©QVR\HOPD\RUGHORVSHQLWHQWHV
1R VRVSHFKDED TXH HQ OD WLHUUD KXELHUD OXJDU SDUD WDQWR
VXIULPLHQWR \ WDQWR WHUURU /R ºQLFR TXH SXHGHV KDFHU SRU P
8WWHUVRQHVUHVSHWDUPLVLOHQFLRߢ
(ODERJDGRTXHG³SHUSOHMR'HVDSDUHFLGDODPDO©YRODLQIOXHQFLD
GH +\GH HO GRFWRU -HN\OO KDED YXHOWR D VX DQWLJXD H[LVWHQFLD
+DFDVRORXQDVHPDQDDWU¡VWRGROHVRQUHDFRQODSURPHVDGHXQD
IXWXUD YHMH] DOHJUH \ UHVSHWDGD \ HQ XQ LQVWDQWH GH JROSH OD
DPLVWDG OD SD] LQWHULRU VX YLGD HQWHUD HVWDEDQ GHVWUXLGDV 8QD
WUDQVIRUPDFL³Q WDQ VºELWD \ UDGLFDO DSXQWDED D OD ORFXUD 1R
20/41
REVWDQWH UHFRUGDQGR ODV SDODEUDV \ OD DFWLWXG GH /DQ\RQ SHQV³
TXHODFDXVDHUDP¡VSURIXQGD
2FKRGDVP¡VWDUGHHOGRFWRU/DQ\RQFD\³HQIHUPR\HQPHQRV
GH TXLQFH GDV IDOOHFL³ 3RFDV KRUDV GHVSX©V GHO HQWLHUUR 0VWHU
8WWHUVRQH[WUHPDGDPHQWHDIHFWDGRSRUHOVXFHVRVHHQFHUU³HQVX
GHVSDFKR \ VDF³ XQ VREUH HVFULWR SRU HO GLIXQWR DPLJR ODFUDGR
FRQVXVHOORHQHOFXDOVHOHDQODVVLJXLHQWHVSDODEUDV3DUD*-
8WWHUVRQ3HUVRQDO(QFDVRGHTXH©OPXHUDDQWHVTXH\RTXHVHD
GHVWUXLGRVLQTXHQDGLHOROHD(ODERJDGRWHPL³ILMDUODYLVWDHQVX
FRQWHQLGR ߡ9HQJR GH HQWHUUDU D XQ DPLJRߢ PHGLW³ ߡ< VL HVWH
GRFXPHQWRPHFXHVWDRWUR"ߢ
,QPHGLDWDPHQWHMX]J³TXHVXVWHPRUHVHUDQGHVOHDOWDG\URPSL³
HO VHOOR 'HQWUR GHO VREUH KDOO³ RWUR TXH OOHYDED OD VLJXLHQWH
LQVFULSFL³Q 1R DEULU KDVWD GHVSX©V GHO IDOOHFLPLHQWR R
GHVDSDULFL³QGH+HQU\-HN\OO8WWHUVRQQRGDEDFU©GLWRDVXVRMRV
6 GHFD GHVDSDULFL³Q $TX FRPR HQ HO WHVWDPHQWR TXH KDFD
WLHPSRKDEDGHYXHOWRDVXDXWRUDSDUHFDQOLJDGRVHOQRPEUHGHO
GRFWRU-HN\OO\ODLGHDGHGHVDSDULFL³Q&RQODGLIHUHQFLDGHTXH
HQ HO WHVWDPHQWR ©VWD VXUJD D FDXVD GH OD SHUYHUVD LQIOXHQFLD GH
HVHKRPEUHOODPDGR+\GH\ODLQWHQFL³QHQDTXHOFDVRHUDFODUD\
VLQLHVWUD (Q FDPELR HVFULWD SRU OD PDQR GH /DQ\RQ TX© SRGD
VLJQLILFDU" 8QD HQRUPH FXULRVLGDG LQYDGL³ DO DERJDGR XQ GHVHR
LPSHULRVR GH GHVRU OD SURKLELFL³Q \ KXQGLUVH HQ ODV
SURIXQGLGDGHVGHDTXHOPLVWHULR6LQHPEDUJROD©WLFDSURIHVLRQDO
\ OD OHDOWDG FRQVWLWXDQ GHEHUHV LQHOXGLEOHV \ YROYL³ D UHOHJDU HO
GRFXPHQWRHQHOLQWHULRUGHVXFDMDIXHUWH
'HVGHDTXHOGD0VWHU8WWHUVRQVLJXL³SHQVDQGRFRQDIHFWRHQ
HOGRFWRU-HN\OODXQTXHWDPEL©QFRQXQDPH]FODGHLQWUDQTXLOLGDG
\ WHPRU ,ED D YLVLWDUOR SHUR VH DOHJUDED FXDQGR VH OH FHUUDED OD
SXHUWD(QHOIRQGRGHVXFRUD]³QSUHIHUDKDEODUFRQ3RROHHQHO
XPEUDO \ DO DLUH OLEUH URGHDGR GH ORV UXLGRV GH OD FLXGDG \ QR
HQWUDUHQHVDFDVDGRQGHVHUDWHVWLJRGHXQDUHFOXVL³QYROXQWDULD\
VHVHQWDUDDFRQYHUVDUFRQXQSULVLRQHURLQHVFUXWDEOH
3RROH SRU VX SDUWH QXQFD WHQD QRWLFLDV DJUDGDEOHV TXH
FRPXQLFDUOH$OSDUHFHUHOGRFWRUVHUHIXJLDEDHQHOJDELQHWHGHO
SLVRVXSHULRUGHOODERUDWRULRHLQFOXVRGRUPDDOODOJXQDVQRFKHV
(VWDEDWULVWHVHKDEDYXHOWRPX\FDOODGR\\DQLVLTXLHUDOHD6H
YHD KRQGDPHQWH SUHRFXSDGR 8WWHUVRQ VH DFRVWXPEU³ D UHFLELU
HVWDVLQIRUPDFLRQHVDWRPDUODVFRPRDOJRQRUPDO\SRFRDSRFR
IXHURQHVFDVHDQGRVXVYLVLWDV
21/41
(OLQFLGHQWHGHODYHQWDQD
8QGRPLQJRHQTXH0VWHU8WWHUVRQ\0VWHU(QILHOGGDEDQVX
DFRVWXPEUDGR SDVHR YROYLHURQ D GHVHPERFDU HQ DTXHOOD
FDOOHMXHOD\DOSDVDUIUHQWHDODSXHUWDDPERVVHGHWXYLHURQ
ߙ%XHQR DO PHQRV HVD KLVWRULD WHUPLQ³ ߙFRPHQW³ (QILHOGߙ
1XQFDYROYHUHPRVDVDEHUGH0VWHU+\GH
ߙ(VRHVSHURߙDILUP³8WWHUVRQߙ7HFRQW©TXHORJU©YHUORHQXQD
RSRUWXQLGDG \ TXH VHQW OD PLVPD VHQVDFL³Q GH UHSXJQDQFLD GH
TXHPHKDEDVKDEODGR"
ߙ(VLPSRVLEOHPLUDUORVLQH[SHULPHQWDUODߙUHVSRQGL³(QILHOGߙ<
D SURS³VLWR GHELVWH MX]JDUPH HVWºSLGR SRU QR KDEHUPH GDGR
FXHQWDGHTXHHVWDSXHUWDOOHYDDODSDUWHSRVWHULRUGHODFDVDGHO
GRFWRU-HN\OO
ߙb$V HV TXH OR GHVFXEULVWH ߙH[FODP³ 0VWHU 8WWHUVRQߙ 6 D
SHVDU GH VX DVSHFWR ODPHQWDEOH FRQGXFH DO VLWLR GRQGH VH
HQFXHQWUD HO YLHMR TXLU³IDQR \ HO ODERUDWRULR <D TXH OR VDEHV
SRGHPRV HQWUDU HQ HVH SDWLR \ PLUDU SRU ODV YHQWDQDV 0H KH
HQWHUDGR GH TXH HO SREUH -HN\OO VH UHIXJLD HQ VX ODERUDWRULR
(VWR\SUHRFXSDGRSRU©O
(Q HO GHVFXLGDGR SDWLR KDFD PXFKR IUR /R LQXQGDED XQD OX]
SUHPDWXUDPHQWH FUHSXVFXODU \D TXH HQ HO FLHOR PX\ OHMDQR DºQ
DOXPEUDED XQ WULVWH VRO GH DWDUGHFHU 'H ODV WUHV YHQWDQDV OD GHO
FHQWUR VH KDOODED HQWUHDELHUWD \ VHQWDGR MXQWR D HOOD FRPR XQ
SULVLRQHUR GHVFRQVRODGR FRQ XQ VHPEODQWH LQILQLWDPHQWH WULVWH
HVWDEDHOGRFWRU-HN\OO
ߙb-HN\OOߙOROODP³0VWHU8WWHUVRQߙ&³PRHVW¡V"
ߙ0H HQFXHQWUR PX\ DEDWLGR ߙUHVSRQGL³ PHODQF³OLFDPHQWH HO
GRFWRUߙ0X\DEDWLGR1RGXUDU©PXFKRJUDFLDVD'LRV
ߙ3DVDVGHPDVLDGRHQFHUUDGR'HEHUDVVDOLUDODFDOOHFDPLQDUXQ
SRFRFRPRKDFHPRV(QILHOG\\RߙORDQLP³HODERJDGRߙb9DPRV
FRJHWXVRPEUHUR\YHQFRQQRVRWURV
ߙ(UHV PX\ DPDEOH ߙPXVLW³ HO RWURߙ 1R WH LPDJLQDV FXDQWR PH
JXVWDUD 'HVJUDFLDGDPHQWH HV LPSRVLEOH 1R PH DWUHYR 0H
DOHJUR GH YHUWH 8WWHUVRQ /HV SHGLUD TXH VXELHUDQ D 0VWHU
(QILHOG\DWLSHUR©VWHQRHVOXJDUSDUDUHFLELUYLVLWDV
ߙ(QWRQFHV OR PHMRU HV TXHGDUQRV GRQGH HVWDPRV \ KDEODU
FRQWLJRGHVGHDTXߙVXJLUL³8WWHUVRQHVIRU]¡QGRVHHQWHQHUEXHQ
KXPRU
ߙ(VR HV OR TXH SHQVDED SURSRQHUWH ߙFRQWHVW³ HO GRFWRU -HN\OO
FRQXQDVRQULVD3HURHQFXDQWRSURILUL³HVWDVSDODEUDVODVRQULVD
GHVDSDUHFL³\IXHEUXVFDPHQWHUHHPSOD]DGDSRUXQDH[SUHVL³QGH
KRUURU \ GHVHVSHUDQ]D WDQ DE\HFWDV TXH OD VDQJUH GH ORV
FDEDOOHURV VH FRQJHO³ HQ VXV YHQDV 1R YLHURQ P¡V SRUTXH OD
YHQWDQDVHFHUU³YLROHQWDPHQWH
0VWHU8WWHUVRQ\0VWHU(QILHOGVHGHYROYLHURQ\VDOLHURQDOD
FDOOH VLQ GHFLU SDODEUD 7RGDYD HQ VLOHQFLR UHFRUULHURQ HO FDPLQR
\D DQGDGR \ VROR DO OOHJDU D XQD DYHQLGD HQ OD TXH SHVH D VHU
GRPLQJREXOODQPºOWLSOHVVLJQRVGHYLGD0VWHU8WWHUVRQPLU³D
VX FRPSD±HUR /RV GRV KRPEUHV HVWDEDQ LQWHQVDPHQWH S¡OLGRV \
FDGD XQR HQFRQWU³ HQ ORV RMRV GHO RWUR OD UHVSXHVWD D VX SURSLR
WHUURU
ߙ4XHHO6H±RUVHDSLDGHGHQRVRWURVߙVXVXUU³0VWHU8WWHUVRQ
0VWHU(QILHOGDVLQWL³FRQVHULHGDG\FRQWLQXDURQFDPLQDQGRHQ
VLOHQFLR
22/41
/DºOWLPDQRFKH
8QDQRFKHGHVSX©VGHFHQDU0VWHU8WWHUVRQVHKDOODEDVHQWDGR
MXQWRDODFKLPHQHDFXDQGRORVRUSUHQGL³ODYLVLWDGH3RROH
ߙ4X©WHWUDHSRUDTX3RROH"ߙSUHJXQW³<OXHJRWUDVHVWXGLDUOH
FRQGHWHQLPLHQWRD±DGL³ߙ4X©WHSDVD"(VW¡HQIHUPRHOGRFWRU
-HN\OO"
ߙ0VWHU8WWHUVRQRFXUUHDOJRPX\H[WUD±RߙGLMRHOPD\RUGRPR
ߙ6L©QWHVH\WRPHXQDFRSDGHYLQRߙLQYLW³HODERJDGRߙ3³QJDVH
F³PRGR\GJDPHFODUDPHQWHTX©VXFHGH
ߙ8VWHG \D VDEH F³PR HV HO GRFWRU ߙUHSOLF³ 3RROHߙ \ F³PR VH
DLVODGHWRGRV$KRUDKDYXHOWRDHQFHUUDUVHHQVXJDELQHWH\HVWD
YH]HODVXQWRQRPHJXVWDVH±RU4XH'LRVPHSHUGRQHQRPH
JXVWDQDGDb0VWHU8WWHUVRQWHQJRPLHGR
ߙ6HD XQ SRFR P¡V H[SOFLWR ߙSLGL³ HO DERJDGRߙ 'H TX© WLHQH
PLHGR"
(ODVSHFWRGHOPD\RUGRPRFRUURERUDEDVXVSDODEUDV6XDSRVWXUD
VHKDEDGHWHULRUDGR\QRPLUDEDGHIUHQWHD8WWHUVRQ3HUPDQHFD
VHQWDGRVLQSUREDUODFRSDGHYLQRDSR\DGDHQODVURGLOODVFRQOD
PLUDGDILMDHQXQULQF³QGHODKDELWDFL³Q
ߙb<DQRSXHGRVRSRUWDUORߙVXVXUU³
ߙ(QWLHQGR TXH KD\ PRWLYRV SDUD TXH HVW© SUHRFXSDGR 3RROH \
TXHVLQGXGDHOSUREOHPDHVJUDYHߙDGPLWL³HODERJDGRߙb7UDWHGH
H[SOLF¡UPHOR
ߙ&UHRTXHKD\DOJRVXFLRߙFRQIHV³3RROHFRQYR]HQURQTXHFLGD
ߙ$OJRVXFLR"ߙLQGDJ³8WWHUVRQDVXVWDGRߙ$TX©VHUHILHUH"
ߙ1RPHDWUHYRDGHFUVHORVH±RU4XLHUHYHQLUFRQPLJR"
/DUHVSXHVWDGH0VWHU8WWHUVRQIXHOHYDQWDUVH\FRJHUVXDEULJR
\VXVRPEUHURPLHQWUDVREVHUYDEDHOJUDQDOLYLRTXHUHIOHMDEDHO
URVWURGHOPD\RUGRPR
(UDXQDQRFKHLQK³VSLWDIUDSURSLDGHOPHVGHPDU]R/DOXQD
S¡OLGD \DFD GH HVSDOGDV HQ HO FLHOR FRPR VL HO YLHQWR OD KXELHUD
WXPEDGRQDXIUDJDQGRHQXQPDUGHQXEHVOLJHUDV\DOJRGRQRVDV
/DYHQWROHUDGLILFXOWDEDODFRQYHUVDFL³Q\HQURMHFDORVURVWURVGH
ORVKRPEUHV7DPEL©QSDUHFDKDEHUKHFKRKXLUDORVWUDQVHºQWHV
KDVWD WDO SXQWR TXH 0VWHU 8WWHUVRQ SHQV³ TXH MDP¡V KDED YLVWR
DTXHOEDUULRWDQGHVLHUWR\KDEUDGHVHDGRTXHQRIXHUDDV1XQFD
VLQWL³XQGHVHRWDQDJXGRGHYHU\WRFDUDVXVVHPHMDQWHV3RUP¡V
TXH WUDWDED GH GRPLQDUOR HQ VX PHQWH FRPHQ]DED D EURWDU XQ
SUHVHQWLPLHQWRTXHOHDQXQFLDEDXQDFDW¡VWURIHLQHYLWDEOH
&XDQGR OOHJDURQ D OD SOD]D UHLQDED HO YLHQWR \ HO SROYR \ ORV
IU¡JLOHV DUEXVWRV GHO MDUGQ D]RWDEDQ FRPR O¡WLJRV OD YHUMD GH OD
HQWUDGD3RROHVHGHWXYRHQPHGLRGHODDFHUD\DSHVDUGHOIURVH
TXLW³HOVRPEUHUR\VHHQMXJ³FRQXQSD±XHORHOVXGRUTXHSHUODED
VX IUHQWH XQ VXGRU TXH QR HUD FRQVHFXHQFLD GH OD FDPLQDWD VLQR
GHODDQJXVWLDTXHORRSULPD
ߙ<DKHPRVOOHJDGRߙPXUPXU³ߙ4XLHUD'LRVTXHQRKD\DSDVDGR
QDGD
8QPRPHQWRGHVSX©V\DHQODHQWUDGDHOPD\RUGRPROODP³HQ
IRUPDFDXWHORVD/DSXHUWDVHDEUL³WRGRORTXHSHUPLWDODFDGHQD
GHVHJXULGDG\XQDYR]SUHJXQW³GHVGHHOLQWHULRU
ߙ(UHVWº3RROH"
ߙ1RWHPDVߙGLMR©VWHߙ$EUHODSXHUWD
3DVDURQ DO VDO³Q TXH HVWDED EULOODQWHPHQWH LOXPLQDGR (O IXHJR
DUGD HQ OD FKLPHQHD MXQWR D OD TXH VH KDEDQ UHXQLGR WRGRV ORV
FULDGRVKRPEUHV\PXMHUHV$OYHUD0VWHU8WWHUVRQODGRQFHOOD
SURUUXPSL³HQXQOODQWRKLVW©ULFRPLHQWUDVTXHHOFRFLQHURFRUUL³
KDFLD HO DERJDGR FRPR VL IXHUD D HVWUHFKDUOR HQ VXV EUD]RV
JULWDQGR
ߙb$ODEDGRVHD'LRVHV0VWHU8WWHUVRQ
ߙ4X© SDVD" 4X© KDFHQ XVWHGHV DTX" ߙSUHJXQW³ ©Oߙ (VWR PH
SDUHFHPX\LUUHJXODU
ߙ7LHQHQPLHGRߙVXVXUU³3RROH
23/41
6LJXL³ XQ VLOHQFLR YDFR HQ TXH QDGLH OHYDQW³ OD YR] 6ROR VH
HVFXFKDEDOORUDUDODGRQFHOOD
ߙb&¡OODWH ߙRUGHQ³ 3RROH HQ XQ WRQR TXH GHODWDED HO HVWDGR GH
VXVQHUYLRV
/D PXFKDFKD HOHY³ P¡V VX ODPHQWR \ WRGRV FRUULHURQ KDFLD OD
SXHUWD TXH GDED DO LQWHULRU FRQ H[SUHVLRQHV OOHQDV GH DQJXVWLRVD
DQVLHGDG
ߙ7UDH XQD OX] ߙLQGLF³ HO PD\RUGRPR GLULJL©QGRVH DO ODFD\R
%UDGVKDZߙ\DFDEHPRVFRQHVWHDVXQWR
ߙ6HQVHJXLGDߙREHGHFL³%UDGVKDZ
/XHJR3RROHVLJXL³D0VWHU8WWHUVRQKDFLDHOMDUGQWUDVHUR
ߙ3RU IDYRU VH±RU ߙUHFRPHQG³ߙ HQWUH OR P¡V VLOHQFLRVDPHQWH
TXHSXHGD(VQHFHVDULRTXHHVFXFKHVLQTXHORRLJDQDXVWHG<VL
SRUFDVXDOLGDGOHSLGHTXHHQWUHQRORKDJD
$QWHHVWDLQHVSHUDGDDGYHUWHQFLDORVQHUYLRVGH0VWHU8WWHUVRQ
VXIULHURQ XQD VDFXGLGD SHUR ORJU³ UHFXSHUDU FLHUWD HQWHUH]D \
VLJXL³DOPD\RUGRPRKDVWDHOHGLILFLRGHOODERUDWRULR$WUDYHVDURQ
HOTXLU³IDQRFRQVXVIUDVFRV\FDMRQHVDFXPXODGRVHQGHVRUGHQ\
OOHJDURQDOSLHGHODHVFDOHUD$OO3RROHOHKL]RVH±DVGHTXHVH
KLFLHUD D XQ ODGR \ R\HUD PLHQWUDV ©O DSHODQGR D WRGR VX YDORU
VXEL³ ORV HVFDORQHV \ OODP³ FRQ PDQR WHPEORURVD HQ HO ILHOWUR
URMRGHODSXHUWDGHOJDELQHWH
ߙ0VWHU 8WWHUVRQ TXLHUH YHUOR VH±RU ߙDQXQFL³ < QXHYDPHQWH
KL]RJHVWRVSDUDTXHHODERJDGRHVFXFKDUD
8QDYR]TXHMXPEURVDUHVSRQGL³GHVGHHOLQWHULRU
ߙ'LOHTXHQRSXHGRYHUDQDGLH
ߙ6 VH±RU ߙGLMR 3RROH FRQ XQ OHYH PDWL] GH WULXQIR \ RWUD YH]
JXL³D8WWHUVRQDWUDY©VGHOMDUGQKDVWDODHQRUPHFRFLQDGRQGH
HOIXHJRVHKDEDFRQVXPLGRߙ(UDHVDODYR]GHOGRFWRU-HN\OO"ߙ
SUHJXQW³PLUDQGRGLUHFWDPHQWHDODERJDGR
ߙ3DUHFDPX\FDPELDGDߙUHSOLF³8WWHUVRQS¡OLGR
ߙ&DPELDGD" &UHH XVWHG TXH GHVSX©V GH VHUYLU YHLQWH D±RV HQ
HVWD FDVD SXHGR FRQIXQGLU VX YR]" ߙLQGDJ³ 3RROHߙ b1R VH±RU
b$OGRFWRU-HN\OOORPDWDURQb/RPDWDURQKDFHRFKRGDVFXDQGR
OR HVFXFKDPRV LQYRFDU D 'LRV \ TXL©Q HVW¡ DOO HQ VX OXJDU HV
DOJRTXHFODPDDOFLHOR
ߙ(V XQD KLVWRULD PX\ H[WUD±D GHVFDEHOODGD ߙFRQWHVW³ 0VWHU
8WWHUVRQߙ 6XSRQJDPRV TXH KD RFXUULGR OR TXH XVWHG LPDJLQD
VXSRQJDPRV TXH -HN\OO KD VLGR GLJ¡PRVOR FODUDPHQWH
DVHVLQDGR 4X© SRGUD LPSXOVDU DO DVHVLQR D SHUPDQHFHU HQ HO
OXJDUGHOFULPHQ"
ߙ0VWHU 8WWHUVRQ XVWHG HV XQ KRPEUH GLIFLO GH FRQYHQFHU ߙ
FRPHQW³ 3RROHߙ 'HER LQIRUPDUOH TXH WRGD OD VHPDQD SDVDGD HO
KRPEUHRORTXHVHDTXHYLYHHQHVHJDELQHWHKDHVWDGRSLGLHQGR
D JULWRV QRFKH \ GD XQD PHGLFLQD TXH PH KD VLGR LPSRVLEOH
FRQVHJXLU HQ OD IRUPD TXH ©O GHVHD $ YHFHV HO GRFWRU VROD
HVFULELUVXVHQFDUJRVHQXQSDSHOTXHGHMDEDHQODHVFDOHUDb(VRHV
WRGR OR TXH KH YLVWR GXUDQWH OD VHPDQD SDVDGD SDSHOHV \ P¡V
SDSHOHV\XQDSXHUWDFHUUDGDVLHPSUH/DVEDQGHMDVFRQFRPLGDVH
ODV GHMDPRV MXQWR D HVD SXHUWD \ ©O ODV LQWURGXFH HQ HO JDELQHWH
FXDQGRQDGLHORYH'LDULDPHQWH\KDVWDGRV\WUHVYHFHVDOGDKH
RGR ³UGHQHV \ TXHMDV \ PH KD HQYLDGR D OD PD\RU YHORFLGDG D
WRGDV ODV IDUPDFLDV GH OD FLXGDG GRQGH VH H[SHQGH DO SRU PD\RU
&DGD YH] TXH WUDD HO SHGLGR PH UHVSRQGD FRQ RWUR SDSHO
PDQGDQGR TXH GHYROYLHUD OD GURJD SRUTXH QR HUD SXUD \ PH
RUGHQDED LU D RWUD ERWLFD b1HFHVLWD HVD PHGLFLQD XUJHQWHPHQWH
0VWHU8WWHUVRQ
ߙ+DVJXDUGDGRDOJXQRVGHHVRVSDSHOHV"ߙLQGDJ³HODERJDGR
3RROH VDF³ GH VX EROVLOOR XQD QRWD DUUXJDGD TXH 8WWHUVRQ OH\³
LQFOLQ¡QGRVHVREUHODYHOD
(O GRFWRU -HN\OO VDOXGD D ORV VH±RUHV 0DZ \ ODPHQWD
FRPXQLFDUOHV TXH OD ºOWLPD UHPHVD GHO SURGXFWR VROLFLWDGR HV
LPSXUD \ SRU OR WDQWR LQºWLO SDUD HO ILQ DO TXH OR GHVWLQD (Q HO
D±R HO GRFWRU -HN\OO FRPSU³ XQD JUDQ FDQWLGDG GHO
24/41
PHQFLRQDGR SURGXFWR /HV UXHJR TXH EXVTXHQ FRQ OD PD\RU
DWHQFL³Q HQWUH VXV H[LVWHQFLDV SDUD YHU VL TXHGD SDUWH GH HVD
UHPHVD HQ VXV DOPDFHQHV 'H VHU DV UXHJD VH OR HQYHQ VLQ OD
PHQRU GLODFL³Q (O SUHFLR QR FRQVWLWXLU¡ QLQJºQ REVW¡FXOR (VWR
UHYLVWHIXQGDPHQWDOLPSRUWDQFLDSDUDHOGRFWRU-HN\OO
+DVWD DTX OD FDUWD HVWDED UHGDFWDGD FRQ FRPSRVWXUD 3HUR GH
SURQWRODVHPRFLRQHVGHVXDXWRUVHGHVDWDEDQ
bb3RUIDYRUEXVTXHQHVDUHPHVDbb3RUORTXHP¡VTXLHUDQ
/DFDOLJUDIDDODYH]GHQRWDEDXQHVWDGRH[WUHPRGHDQJXVWLD
ߙ(VXQDQRWDUDUVLPDߙUHIOH[LRQ³0VWHU8WWHUVRQߙ<VLQOXJDUD
GXGDVHVGHSX±R\OHWUDGH-HN\OO
ߙ(VRPHSDUHFL³ߙDGPLWL³HOVLUYLHQWHߙ<TX©LPSRUWDODOHWUD"
<RORKHYLVWR
ߙ4X©ORKDYLVWR"ߙLQTXLUL³0VWHU8WWHUVRQߙ<ELHQ"
ߙ<R HQWU© HQ HO HGLILFLR GHO ODERUDWRULR GHVGH HO MDUGQ ߙFRQIL³
3RROHߙOKDEDVDOLGRGHOJDELQHWHDHVFRQGLGDVSDUDEXVFDUHVD
PHGLFLQDRORTXHVHDSRUTXHODSXHUWDVHHQFRQWUDEDDELHUWD\VH
KDOODEDDOIRQGRGHOTXLU³IDQRKXUJDQGRHQWUHODVFDMDV1RORYL
P¡VTXHXQRVVHJXQGRV\ORVFDEHOORVVHPHHUL]DURQ6H±RUVL
HVHLQGLYLGXRHUDHOGRFWRU-HN\OOSRUTX©OOHYDEDHOURVWURRFXOWR
EDMR XQD P¡VFDUD" 6L HUD HO GRFWRU -HN\OO SRU TX© FKLOO³ FRPR
XQDUDWD\KX\³GHP"b/HKHVHUYLGRGXUDQWHGHPDVLDGRVD±RV
ߙ(O DVXQWR HV DODUPDQWH ߙFRQFOX\³ 0VWHU 8WWHUVRQߙ 6LQ
HPEDUJRFUHRTXHHPSLH]RDYHUFODUR-HN\OOGHEHSDGHFHUGHXQD
HQIHUPHGDG GHIRUPDQWH (VWR MXVWLILFD OD DOWHUDFL³Q GH VX YR] HO
DI¡QGHRFXOWDUVXURVWUR\HOKHFKRGHQHJDUVHDYHUDVXVDPLJRV
7DPEL©QHVDDQVLHGDGSRUKDOODUHVDPHGLFLQDHQODTXHHOSREUH
KDSXHVWRVXVHVSHUDQ]DVGHUHFXSHUDFL³Q
8QDSDOLGH]PDUP³UHDFXEUDHOVHPEODQWHGHOPD\RUGRPR
ߙb6H±RU HVH LQGLYLGXR QR HV HO GRFWRU ߙJLPL³ߙ bO HV XQ
KRPEUH DOWR PX\ ELHQ SURSRUFLRQDGR \ ©VWH HUD XQ HQDQR ߙ
0VWHU 8WWHUVRQ KL]R XQ DGHP¡Q SDUD LQWHUUXPSLUOR \ 3RROH
SURVLJXL³ߙ 3LHQVD TXH QR FRQR]FR DO VH±RU D TXLHQ OH VLUYR"
3LHQVDTXHQRV©DG³QGHOOHJDVXFDEH]DHQUHODFL³QDODVSXHUWDV
\DWRGRVORVOXJDUHVGHODFDVD"b1RHOTXHVHRFXOWDEDGHWU¡VGHO
DQWLID] QR HUD HO GRFWRU -HN\OO (Q HO IRQGR GH PL FRUD]³Q \R V©
TXHVHKDFRPHWLGRXQFULPHQ
ߙ6L XVWHG VRVWLHQH HVR PL GHEHU HV FRQILUPDUOR ߙUHSOLF³ 0VWHU
8WWHUVRQߙ \ SHVH D TXH TXLHUR UHVSHWDU ORV GHVHRV GH PL DPLJR
FRQVLGHURXQGHEHUHFKDUDEDMRHVDSXHUWD
ߙb$VVHKDEODߙH[FODP³HOPD\RUGRPR
ߙ<TXL©QORKDU¡"
ߙ8VWHG\\RSRUVXSXHVWRߙIXHODLQHTXYRFDUHVSXHVWD
ߙ'HDFXHUGRߙUHVSRQGL³0VWHU8WWHUVRQߙ\\RPHHQFDUJDU©GH
TXHQRORFXOSHQGHQDGDDXVWHG
ߙ(QHOTXLU³IDQRKD\XQKDFKDߙLQGLF³3RROHߙ8VWHGSXHGHXVDU
HODWL]DGRUGHODFRFLQD
(O DERJDGR FRJL³ HQ VXV PDQRV HO SHVDGR LQVWUXPHQWR \
OHYDQWDQGR OD PLUDGD KDFLD 3RROH PXUPXU³ߙ 6H GD FXHQWD GH
TXHDPERVQRVFRORFDUHPRVHQXQDVLWXDFL³QSHOLJURVD"
ߙ&ODURTXHVVH±RUߙUHVSRQGL³HOPD\RUGRPR
ߙ(QWRQFHVHVPHMRUTXHVHDPRVIUDQFRVߙRUGHQ³8WWHUVRQߙ/RV
GRVLPDJLQDPRVP¡VGHORTXHKHPRVGLFKR+DEOHPRVFRQWRWDO
VLQFHULGDG8VWHGUHFRQRFL³DHVHKRPEUHHQPDVFDUDGR"
ߙ6XFHGL³ WRGR WDQ U¡SLGR \ HO KRPEUH HVWDED WDQ HQFRJLGR
8VWHG SUHJXQWD VL HUD 0VWHU +\GH" b6 FUHR TXH V (UD GH VX
PLVPD HVWDWXUD \ WHQD OD YLYDFLGDG \ OD OLJHUH]D TXH OH
FDUDFWHUL]DQ<SRURWUDSDUWHTX©RWUDSHUVRQDSRGDHQWUDUSRU
OD SXHUWD TXH GD DO ODERUDWRULR" 1R V© 0VWHU 8WWHUVRQ VL XVWHG
FRQRFHD0VWHU+\GH
ߙ+HKDEODGRFRQ©OHQXQDRFDVL³Q
ߙ(QWRQFHV VDEH TXH HQ HVH LQGLYLGXR KD\ DOJR KRUULEOH TXH
LQVSLUDHVSDQWRVDUHSXJQDQFLD1RV©F³PRGHVFULELUOR$OYHUOR
VHH[SHULPHQWDXQHVWUHPHFLPLHQWR
25/41
ߙ6 \R PLVPR KH VXIULGR HVD VHQVDFL³Q ߙUHFRQRFL³ 0VWHU
8WWHUVRQ
ߙ&XDQGR HVD FULDWXUD HQPDVFDUDGD P¡V VHPHMDQWH D XQ VLPLR
TXHDXQKRPEUHVDOW³GHHQWUHODVFDMDVGHSURGXFWRVTXPLFRV\
VH LQWURGXMR HQ HO JDELQHWH XQ KLHOR PH HVWUHPHFL³ OD FROXPQD
YHUWHEUDO ߙDWHVWLJX³ 3RROHߙ 6© TXH QR HVWR\ SUREDQGR QDGD
0VWHU8WWHUVRQSHUR\ROHMXURSRUOD%LEOLDTXHHVHHUD0VWHU
+\GH
ߙ0H LQFOLQR D GDUOH OD UD]³Q ߙDVHYHU³ HO DERJDGRߙ \ PLV
WHPRUHV YDQ WDPEL©Q HQ HVD GLUHFFL³Q b6 3RROH FUHR TXH
PDWDURQ D QXHVWUR SREUH -HN\OO \ WDPEL©Q FUHR TXH HO DVHVLQR
VLJXHRFXOWRHQHOJDELQHWHGHODYFWLPD'LRVVDEHFRQTX©ILQHV
/ODPHD%UDGVKDZ
(OODFD\RDFXGL³H[WUHPDGDPHQWHQHUYLRVR
ߙ7UDQTXLOFHVH %UDGVKDZ ߙRUGHQ³ 0VWHU 8WWHUVRQߙ /R TXH
RFXUUHORVHVW¡DIHFWDQGRPXFKRDWRGRVSHURQXHVWURSURS³VLWRHV
VROXFLRQDUHVWHDVXQWR3RROH\\RYDPRVDHQWUDUSRUODIXHU]DHQ
HO JDELQHWH 6L QR KD SDVDGR QDGD \R FDUJDU© FRQ WRGD OD
UHVSRQVDELOLGDG (QWUH WDQWR SRU VL DOJXLHQ LQWHQWD HVFDSDU SRU OD
SXHUWD WUDVHUD XVWHG \ HO FRFLQHUR VH DSRVWDU¡Q D OD HQWUDGD GHO
ODERUDWRULR DUPDGRV FRQ XQ SDU GH JDUURWHV /HV SDUHFHQ ELHQ
GLH]PLQXWRVSDUDTXHDFXGDQDVXVSXHVWRV"
(QHOPRPHQWRHQTXH%UDGVKDZVDOL³HODERJDGRPLU³VXUHORM
ߙ< DKRUD 3RROH YDPRV QRVRWURV D QXHVWUR OXJDU ߙGLMR \
HPSX±DQGRHODWL]DGRUVHGLULJL³DOMDUGQ
/DV QXEHV KDEDQ FXELHUWR OD OXQD \ UHLQDED XQD RVFXULGDG
DEVROXWD(OYLHQWRKDFDRVFLODUODVOODPDVGHODVYHODVDOSDVRGH
ORVGRVKRPEUHVKDVWDTXHHQWUDURQHQHOHGLILFLRGHOODERUDWRULR
HQFX\RLQWHULRUVHVHQWDURQDHVSHUDUHQVLOHQFLR(QWRUQRDHOORV
/RQGUHV ]XPEDED OHMDQR \ DOO VROR URPSD OD DSDUHQWH FDOPD HO
VRQLGRGHXQRVSDVRVTXHUHFRUUDQVLQFHVDUHOJDELQHWH
ߙ$KHVW¡WRGRHOGD\FDVLWRGDODQRFKHߙVXVXUU³3RROHߙ6ROR
VH GHWLHQH FXDQGR OOHJD XQD QXHYD PXHVWUD GH OD IDUPDFLD (V OD
FRQFLHQFLDTXHQRORGHMDGHVFDQVDU(QFDGDXQRGHVXVSDVRVKD\
VDQJUH GHUUDPDGD 3HUR HVFXFKH RWUD YH] FRQ DWHQFL³Q FRQ WRGD
VXDOPD\GJDPHVLHV©VHHODQGDUGHOGRFWRU
/RV SDVRV VRQDEDQ SHVDGRV (UDQ HYLGHQWHPHQWH PX\ GLVWLQWRV
GHOFDPLQDUUHFLR\¡JLOGH+HQU\-HN\OO
ߙ+DRFXUULGRDOJRP¡V"ߙSUHJXQW³8WWHUVRQ
ߙ8QGDߙPXVLW³3RROHߙXQGDORROORUDU
ߙ/ORUDU" ߙ0VWHU 8WWHUVRQ H[SHULPHQW³ XQ HVFDORIUR GH
DQJXVWLD
ߙ/ORUDED FRPR XQD PXMHU QR FRPR XQ DOPD HQ SHQD ߙ
DWHVWLJX³ HO PD\RUGRPRߙ 0H LQVSLU³ WDQWD O¡VWLPD TXH HVWXYH D
SXQWRGHOORUDU\RWDPEL©Q
/RVGLH]PLQXWRVOOHJDURQDVXILQ3RROHGHVHQWHUU³HOKDFKDTXH
HVWDED FXELHUWD SRU XQ PRQW³Q GH SDMD GH HPEDODU GHSRVLW³ ODV
YHODV VREUH XQD PHVD \ VH DSUR[LPDURQ FRQWHQLHQGR OD
UHVSLUDFL³Q DO OXJDU GRQGH HVRV SLHV FRQWLQXDEDQ UHFRUULHQGR HO
JDELQHWHGHDUULEDDEDMRGHDEDMRDDUULEDHQPHGLRGHODQRFKH
ߙb-HN\OO H[LMR TXH PH DEUDV LQPHGLDWDPHQWH ߙJULW³ 0VWHU
8WWHUVRQ +L]R XQD SDXVD GXUDQWH OD FXDO QR KXER UHVSXHVWDߙ
7HQJRTXHYHUWHFRQWXFRQVHQWLPLHQWRRSRUODIXHU]D
ߙb8WWHUVRQ SRU IDYRU WH OR SLGR ߙUHVSRQGL³ DOJXLHQߙ b7HQ
SLHGDG
ߙb(VDQRHVODYR]GH-HN\OOHVODGH+\GHb(FKHPRVDEDMROD
SXHUWD3RROHߙH[FODP³8WWHUVRQ
(OPD\RUGRPREODQGL³HOKDFKD(OJROSHFRQPRYL³HOHGLILFLR\
OD SXHUWD WDSL]DGD GH ILHOWUR URMR VDOW³ FRQWUD OD FHUUDGXUD GH
JR]QHV 8Q JUX±LGR GH WHUURU DQLPDO VXUJL³ GHVGH HO LQWHULRU
1XHYDPHQWH HO KDFKD VH HOHY³ \ GHVFDUJ³ RWUR JROSH (O ILOR VH
KXQGL³HQODPDGHUD\FUXML³HOPDUFRGHODSXHUWD&XDWURYHFHV
JROSH³ HO KDFKD KDVWD TXH YRO³ OD FHUUDGXUD \ OD SXHUWD FDOO³
DVWLOODGDHQHOLQWHULRUGHODKDELWDFL³QVREUHODDOIRPEUD
26/41
$VXVWDGRV SRU HO UXLGR TXH SURYRFDURQ \ SRU HO VLOHQFLR TXH
VLJXL³D©VWH8WWHUVRQ\3RROHGLHURQXQSDVRDWU¡V$QWHVXVRMRV
DSDUHFDHOJDELQHWHLOXPLQDGRSRUODVHUHQDOX]GHXQDO¡PSDUDHO
IXHJRFUHSLWDEDHQODFKLPHQHD\HQODWHWHUDHOKHUYRUGHODJXD
HQWRQDED XQD FDQFL³Q WHQXH XQ FDM³Q HVWDED DELHUWR XQRV
GRFXPHQWRVFXLGDGRVDPHQWHH[WHQGLGRVVREUHHOHVFULWRULR\MXQWR
DOKRJDUHOVHUYLFLRGHW©HVSHUDQGR$QRVHUSRUODVYLWULQDVGH
FULVWDO UHSOHWDV GH SURGXFWRV TXPLFRV VH GLUD TXH HUD OD
KDELWDFL³QP¡VWUDQTXLOD\QRUPDOGH/RQGUHV
(Q HO FHQWUR GHO JDELQHWH \DFD HO FXHUSR GH XQ KRPEUH
FRQWRUVLRQDGRSRUHOGRORUTXHDºQVHUHWRUFDHVSDVP³GLFDPHQWH
/R GLHURQ YXHOWD \ VH KDOODURQ DQWH (GZDUG +\GH /OHYDED XQ
WUDMHGHPDVLDGRJUDQGHSDUD©OXQWUDMHGHODWDOODGHOGRFWRU/RV
PºVFXORVGHVXURVWURVHPRYDQDºQG©ELOPHQWHSHURODYLGD\D
OR KDED DEDQGRQDGR 'H OD DPSROOD TXH DIHUUDED HQ VX PDQR \
DTXHO IXHUWH RORU D DOPHQGUDV TXH IORWDED HQ HO DLUH 8WWHUVRQ
GHGXMRTXHVHKDOODEDIUHQWHDXQVXLFLGD
ߙ+HPRV OOHJDGR GHPDVLDGR WDUGH SDUD VDOYDU R SDUD FDVWLJDU ߙ
GHWHUPLQ³JUDYHPHQWHߙ+\GHKDGDGRFXHQWDGHVXVDFFLRQHV\D
QRVRWURVVRORQRVTXHGDHQFRQWUDUHOFDG¡YHUGHOGRFWRU-HN\OO
/D PD\RU SDUWH GH DTXHO HGLILFLR OR RFXSDED HO TXLU³IDQR TXH
OOHQDED FDVL OD WRWDOLGDG GH OD SODQWD EDMD $O IRQGR HO JDELQHWH
IRUPDEDXQVHJXQGRSLVR\VXVYHQWDQDVVHDEUDQKDFLDHOSDWLR
HOTXLU³IDQRTXHGDEDXQLGRFRQODSXHUWDTXHGDEDDOFDOOHM³QSRU
XQSHTXH±RFRUUHGRUTXHFRPXQLFDEDDVXYH]FRQHOJDELQHWH(O
HGLILFLRFRQVWDEDDGHP¡VGHRWURVFXDUWRV\XQHVSDFLRVRV³WDQR
7RGRHOORIXHGHELGDPHQWHUHJLVWUDGR8QDVRODPLUDGDEDVW³SDUD
H[DPLQDUORVFXDUWRVYDFRVTXHDMX]JDUSRUHOSROYRDFXPXODGR
QRIXHURQDELHUWRVHQODUJRWLHPSR(OV³WDQRVHHQFRQWUDEDOOHQR
GH WUDVWRV LQVHUYLEOHV \ SURQWR VH GLHURQ FXHQWD GH TXH HUD
LQRILFLRVR UHJLVWUDUOR (Q FXDQWR DEULHURQ OD SXHUWD FD\³ VREUH
HOORVXQDHVSHVDFRUWLQDGHWHODUD±DVTXHGXUDQWHODUJRVD±RVKDED
VHOODGRODHQWUDGD(QQLQJXQDSDUWHYLVOXPEUDURQHOPHQRUUDVWUR
GHOGRFWRU+HQU\-HN\OOQLYLYRQLPXHUWR
3RROHGLRXQRVJROSHVFRQHOSLHHQODVEDOGRVDVGHOFRUUHGRU
ߙ'HEH HVWDU HQWHUUDGR DTX ߙPXVLW³ PLHQWUDV HVFXFKDED
DWHQWDPHQWH
ߙ4XL]¡V KD KXLGR ߙVXJLUL³ 0VWHU 8WWHUVRQ YROYL©QGRVH SDUD
REVHUYDU OD SXHUWD TXH GDED DO FDOOHM³Q (VWDED FHUUDGD \ PX\
FHUFDHQHOVXHORKDOODURQODOODYHFXELHUWDGHPRKR
ߙ3DUHFH TXH QR OD KDQ XVDGR HQ PXFKR WLHPSR ߙDQRW³ HO
DERJDGR
ߙ8VDUOD" 1R YH VH±RU TXH HVW¡ URWD" &RPR VL OD KXELHVHQ
SDUWLGRFRQHOSLH
ߙ(V YHUGDG < ORV OXJDUHV SRU GRQGH VH KD TXHEUDGR WDPEL©Q
HVW¡Q R[LGDGRV ߙGLMR 8WWHUVRQ LQWHUFDPELDQGR XQD PLUDGD GH
WHPRU FRQ 3RROHߙ b1R ORJUR HQWHQGHUOR 0HMRU YROYDPRV DO
JDELQHWH
6XELHURQ OD HVFDOHUD HQ VLOHQFLR \ HPSUHQGLHURQ XQ UHJLVWUR
PLQXFLRVR GH OD KDELWDFL³Q 6REUH XQD PHVD HQ OD TXH VH GHED
HIHFWXDU DOJºQ H[SHULPHQWR TXPLFR HQ XQRV SODWLOORV GH FULVWDO
YLHURQ VHQGRV PRQWRQHV GH XQD VDO GH FRORU EODQFR
FXLGDGRVDPHQWH PHGLGRV \ GLVSXHVWRV SDUD XQ PHQHVWHU TXH HO
LQIRUWXQDGRGRFWRU-HN\OOQRKDEDDOFDQ]DGRDOOHYDUDFDER
ߙ(VD HV OD PHGLFLQD TXH \R OH WUDD FRQWLQXDPHQWH ߙLQIRUP³
3RROH\PLHQWUDVKDEODEDHODJXDTXHKHUYDMXQWRDOIXHJRUHEDV³
HOUHFLSLHQWHFRQXQVRQLGRTXHORVHVWUHPHFL³
(VWH UXLGR ORV DWUDMR KDFLD OD FKLPHQHD -XQWR D HVWD VH YHD XQ
VLOO³QGHDVSHFWRPX\DFRJHGRUFRQHOVHUYLFLRGHW©PX\SU³[LPR
D XQR GH VXV EUD]RV \ WRGR SHUIHFWDPHQWH GLVSXHVWR KDVWD WDO
SXQWR TXH HO D]ºFDU HVWDED \D HQ OD WD]D (Q XQ HVWDQWH
GHVFDQVDEDQYDULRVOLEURV\RWUR\DFDDELHUWRDOODGRGHOVHUYLFLR
GH W© 8WWHUVRQ VH SDUDORJL]³ DO GHVFXEULU TXH VH WUDWDED GH XQD
REUD GH FDU¡FWHU UHOLJLRVR TXH -HN\OO DGPLUDED \ DKRUD HVWDED
27/41
OOHQD GH KRUULEOHV EODVIHPLDV TXH PRVWUDEDQ OD FDOLJUDID GHO
GRFWRU
/RVGRVKRPEUHVSURVLJXLHURQHOUHJLVWURGHODKDELWDFL³Q\DV
OOHJDURQDQWHHOHVSHMRGHFXHUSRHQWHURDOIRQGRGHOFXDOPLUDURQ
FRQLQYROXQWDULRPLHGR6HKDOODEDFRORFDGRGHWDOPDQHUDTXHQR
PRVWUDED VLQR HO UHVSODQGRU URVDGR TXH GDQ]DED HQ HO WHFKR HO
IXHJRFLHQYHFHVUHIOHMDGRHQODVOXQDVGHFULVWDOGHORVDUPDULRV\
VXVURVWURVDVXVWDGRV\S¡OLGRVDVRPDGRVDVXLQWHULRU
ߙ(VWHHVSHMRKDYLVWRFRVDVH[WUD±VLPDVVH±RUߙVXVXUU³3RROH
ߙ/D P¡V H[WUD±D GH WRGDV HV HO HVSHMR PLVPR ߙH[SUHV³ HO
DERJDGR HQ HO PLVPR WRQR 3RGUD H[SOLFDUVH XVWHG SDUD TX©
QHFHVLWDED-HN\OOHVWHHVSHMR"
ߙb(VRWURPLVWHULRߙUHFRQRFL³3RROH
/XHJRUHYLVDURQHOHVFULWRULR(QSULPHUOXJDUHQWUHORVSDSHOHV
FXLGDGRVDPHQWH RUGHQDGRV HQFRQWUDURQ XQ VREUH HVFULWR SRU HO
GRFWRU -HN\OO GLULJLGR D 0VWHU 8WWHUVRQ (O DERJDGR OR DEUL³ \
RWURVVREUHVFD\HURQDOVXHOR(OSULPHURFRQWHQDXQWHVWDPHQWR
UHGDFWDGR HQ ORV PLVPRV W©UPLQRV TXH HO TXH 8WWHUVRQ KDELD
GHYXHOWR D VX DPLJR KDFD \D VHLV PHVHV SHUR HQ HO OXJDU GHO
QRPEUH GH (GZDUG +\GH HO DERJDGR OH\³ FRQ LQGHVFULSWLEOH
DVRPEURVXSURSLRQRPEUH*DEULHO-RKQ8WWHUVRQ0LU³D3RROH
RWUDYH]HOGRFXPHQWR\ILQDOPHQWHHOFXHUSRGHOGHOLQFXHQWHTXH
SHUPDQHFDVREUHODDOIRPEUD
ߙ1RFRPSUHQGRXQDVRODSDODEUDߙFRQIL³ߙ+\GHKDSDVDGRDTX
WRGRVHVWRVGDVFRPRDPR\VH±RU1RH[LVWDQLQJºQPRWLYRSDUD
TXHDEULJDUDODPHQRUVLPSDWDKDFLDPDOFRQWUDULR\WLHQHTXH
KDEHUVH HQIXUHFLGR DO FRPSUREDU TXH HVWDED UHHPSOD]DGR HQ HO
WHVWDPHQWR3RUTX©QRORGHVWUX\³"ߙ&RJL³ODVLJXLHQWHQRWDGH
SX±R\OHWUDGHOGRFWRU-HN\OOHQFDEH]DGDSRUODIHFKDGHOGDHQ
FXUVRߙb3RROHKR\PLVPRKDHVWDGRDTXb1RHVSRVLEOHTXHVX
FXHUSRGHVDSDUHFLHUDHQWDQSRFRWLHPSR
ߙb6HVGLIFLOߙH[FODP³HOPD\RUGRPR
ߙ3XHGH HVWDU YLYR SXHGH KDEHU HVFDSDGR 3HUR SRU TX©
WHQGUD TXH KXLU" ߙFRQWLQX³ UHIOH[LRQDQGR 8WWHUVRQߙ < VL OR KD
KHFKRSRGHPRVDYHQWXUDUQRVDGHFLUTXHHVWRHVVXLFLGLR"+D\
TXHDFWXDUFRQH[WUHPDGDFDXWHOD3UHVLHQWRTXHDºQ-HN\OOSRGUD
YHUVHFRPSOLFDGRHQXQHVF¡QGDORWHUULEOH
ߙ3RUTX©QROHHHVHPHQVDMH"ߙSUHJXQW³3RROH
ߙ3RUTXH WHQJR PLHGR ߙUHSOLF³ JUDYHPHQWH HO DERJDGRߙ 'LRV
TXLHUDTXHFDUH]FDGHIXQGDPHQWRߙ7UDVGHFLUHVWRILM³ODYLVWDHQ
ODFDUWD\OH\³
0L TXHULGR 8WWHUVRQ &XDQGR HVWDV OQHDV OOHJXHQ D WXV PDQRV
KDEU© GHVDSDUHFLGR 1R SXHGR SUHGHFLU EDMR TX© FLUFXQVWDQFLDV
SHURPLLQVWLQWR\ORGHVHVSHUDGRGHPLVLWXDFL³QPHGLFHQTXHHO
ILQDO HVW¡ SU³[LPR /HH SULPHUR HO HVFULWR TXH /DQ\RQ PH DYLV³
TXHLEDDGHMDUHQWXVPDQRV\VLTXLHUHVVDEHUP¡VDFXGHDOD
FRQIHVL³QGHWXGHVJUDFLDGRDPLJR
+HQU\-HN\OO
ߙ+D\XQWHUFHUGRFXPHQWR"ߙDYHULJX³0VWHU8WWHUVRQ
ߙ$TXORWLHQHVH±RUߙUHVSRQGL³3RROHDODUJ¡QGROHXQVREUHGH
GLPHQVLRQHVFRQVLGHUDEOHVODFUDGRHQYDULRVOXJDUHV
(ODERJDGRVHORPHWL³HQHOEROVLOOR
ߙ1R KD\ TXH KDEODU FRQ QDGLH GH HVWH GRFXPHQWR 6L HO GRFWRU
-HN\OO KD KXLGR R KD PXHUWR DO PHQRV SRGUHPRV VDOYDU VX
UHSXWDFL³Q6RQODVGLH]GHODQRFKH'HERLUDFDVDSDUDOHHUHVWR
FRQ WUDQTXLOLGDG SHUR UHJUHVDU© DQWHV GH OD PHGLDQRFKH \
OODPDUHPRVDODSROLFD
6DOLHURQFHUUDQGRODSXHUWDGHOTXLU³IDQR\0VWHU8WWHUVRQGHM³
XQDYH]P¡VDWRGDODVHUYLGXPEUHUHXQLGDHQWRUQRDODFKLPHQHD
GHOVDO³Q9ROYL³DVXGHVSDFKRSDUDOHHUORVGRVGRFXPHQWRVFRQ
ORVTXHHVSHUDEDTXHGDUDDFODUDGRHOPLVWHULR
28/41
(OUHODWRGHOGRFWRU/DQ\RQ
(O QXHYH GH HQHUR KDFH FXDWUR GDV UHFLE SRU HO FRUUHR GH OD
WDUGH XQ VREUH FHUWLILFDGR HVFULWR SRU PL FROHJD GRFWRU +HQU\
-HN\OO(OKHFKRPHVRUSUHQGL³HQJUDGRVXPR\DTXHQRWHQDPRV
FRVWXPEUHGHFRPXQLFDUQRVSRUFRUUHVSRQGHQFLD/RKDEDYLVWRH
LQFOXVRKDEDFHQDGRFRQ©OODQRFKHDQWHULRU\QRH[LVWDPRWLYR
DOJXQR TXH MXVWLILFDUD OD IRUPDOLGDG GH FHUWLILFDU OD PLVLYD 0L
VRUSUHVDDXPHQW³DOOHHUOD\DTXHGHFDORVLJXLHQWH
GHGLFLHPEUHGH
0LTXHULGR/DQ\RQ
(UHV XQR GH PLV DPLJRV P¡V DQWLJXRV \ DXQTXH D YHFHV KHPRV
GLIHULGR FRQ UHVSHFWR D FXHVWLRQHV FLHQWILFDV QR UHFXHUGR TXH
HVWRKD\DGLVPLQXLGRXQ¡SLFHHODIHFWRTXHQRVXQH6LDOJXQDYH]
PH KXELHUDV GLFKR ߡ-HN\OO PL YLGD PL KRQRU \ PL UD]³Q
GHSHQGHQGHWLߢ\RKDEUDGDGRPLPDQRGHUHFKDSRUD\XGDUWH
3XHVELHQ/DQ\RQPLYLGDPLKRQRU\PLUD]³QGHSHQGHQGHWL
DKRUD 6L Wº QR PH D\XGDV HVWR\ SHUGLGR 6XSRQGU¡V TXH YR\ D
SHGLUWHTXHKDJDVDOJRGHVKRQURVR-X]JDSRUWLPLVPR
4XLHURTXHDSODFHVFXDOTXLHUFRPSURPLVRTXHWHQJDVSDUDHVWD
QRFKHVHDHOTXHIXHUHDXQTXHVHWUDWHGHDFXGLUMXQWRDOOHFKR
GH HQIHUPR GH XQ HPSHUDGRU TXH WRPHV XQ FRFKH VDOYR TXH WX
FDUUXDMHHVW©HVSHU¡QGRWHHQODSXHUWD\TXHFRQHVWDFDUWDHQOD
PDQR YD\DV GLUHFWDPHQWH D PL FDVD +H GDGR D 3RROH HO
PD\RUGRPR ODV ³UGHQHV SUHFLVDV $ WX OOHJDGD OR HQFRQWUDU¡V
HVSHU¡QGRWHHQFRPSD±DGHXQFHUUDMHUR'HEHQIRU]DUODSXHUWD
GH PL JDELQHWH \ HQWUDU¡V Wº VROR $EULU¡V OD YLWULQD VLWXDGD D
PDQR L]TXLHUGD OD TXH YD VH±DODGD FRQ OD OHWUD ( VDOWDQGR OD
FHUUDGXUD VL HV TXH OD HQFXHQWUDV FHUUDGD FRQ OODYH \ VDFDU¡V
FRQ WRGR VX FRQWHQLGR \ WDO FRPR OR KDOOHV HO FXDUWR FDM³Q
HPSH]DQGR SRU DUULED TXH HV HO WHUFHUR D SDUWLU GHO ºOWLPR GH
DEDMR (Q PL H[WUHPD DQJXVWLD WHQJR S¡QLFR GH HTXLYRFDUPH DO
GDUWHODVLQVWUXFFLRQHVSHURDºQVLPHHTXLYRFRVDEU¡VTXHHVHO
FDM³Q GH TXH WH KDEOR SRU VX FRQWHQLGR TXH FRQVLVWH HQ XQRV
SROYRVXQDDPSROOD\XQFXDGHUQR7HUXHJRTXHOOHYHVHVWHFDM³Q
DODSOD]DGH&DYHQGLVK
(VWDHVODSULPHUDSDUWHGHOIDYRU3DVRDGHWDOODUWHODVHJXQGD
6L VLJXHV PLV LQVWUXFFLRQHV HQ FXDQWR UHFLEDV HVWD FDUWD WH
KDOODU¡VGHUHJUHVRHQWXFDVDPXFKRDQWHVGHODPHGLDQRFKH7H
GHMR XQ PDUJHQ GH WLHPSR VXILFLHQWH QR VROR SRU WHPRU D TXH
VXUMDXQLPSUHYLVWRVLQRWDPEL©QSRUTXHORTXHUHVWDSRUKDFHUHV
SUHIHULEOH TXH OR KDJDV FXDQGR OD VHUYLGXPEUH VH HQFXHQWUH \D
DFRVWDGD 3RU FRQVLJXLHQWH D PHGLDQRFKH WH SLGR TXH HVW©V VROR
HQWXVDODGHFRQVXOWDV\TXHDEUDVODSXHUWDDXQKRPEUHTXHVH
SUHVHQWDU¡ D QRPEUH PR \ OH HQWUHJXHV HO FDM³Q VDFDGR GH PL
JDELQHWH&RQHVWRPHKDEU¡VKHFKRXQIDYRULQPHQVR\WHQGU¡V
PL HWHUQD JUDWLWXG 6L LQVLVWHV HQ UHFLELU XQD H[SOLFDFL³Q FLQFR
PLQXWRVGHVSX©VKDEU¡VFRPSUHQGLGRTXHHVWDVDFFLRQHVHUDQGH
FDSLWDO LPSRUWDQFLD \ TXH GH RPLWLU FXDOTXLHUD GH HOODV SRU
IDQW¡VWLFDV TXH SXHGDQ SDUHFHUWH SHVDUD VREUH WX FRQFLHQFLD OD
S©UGLGDGHPLUD]³QRPLPXHUWH
$XQTXH FRQIR HQ TXH QR GXGDU¡V HQ DWHQGHU PL UXHJR PL
FRUD]³Q VH DQJXVWLD \ PL PDQR WLHPEOD VROR GH LPDJLQDU HVD
SRVLELOLGDG (Q HVWRV PRPHQWRV HVWR\ HQ XQ OXJDU H[WUD±R
KXQGLGRHQXQDSHVDGXPEUHTXHQLODIDQWDVDP¡VGHVFDEHOODGD
SRGUD FRQFHELU 6LQ HPEDUJR VL DWLHQGHV SXQWXDOPHQWH HVWD
VºSOLFDSURQWRPLVFXLWDVVHU¡QFRVDGHOSDVDGRFRPRODKLVWRULD
TXHHOQDUUDGRUWHUPLQD\ORVR\HQWHVROYLGDQb$\ºGDPH/DQ\RQ
7XDPLJR
+-
3RVGDWD<DKDEDFHUUDGRHOVREUHFXDQGRXQQXHYRWHUURUPH
DVDOW³(VSRVLEOHTXHHOFRUUHRVHUHWUDVH\TXHHVWDPLVLYD\DQR
OOHJXH KDVWD PD±DQD (Q HVH FDVR KD] OR TXH WH SLGR HQ HO
29/41
PRPHQWR GHO GD HQ TXH WH VHD P¡V FRQYHQLHQWH \ HVSHUD DO
KRPEUH TXH HQYLDU© HQ OD PHGLDQRFKH GH PD±DQD DXQTXH HV
SRVLEOH TXH SDUD HQWRQFHV \D VHD GHPDVLDGR WDUGH 6L OD QRFKH
SDVD VLQ TXH UHFLEDV OD YLVLWD GH PL PHQVDMHUR \D QXQFD P¡V
YROYHU¡VDYHUD+HQU\-HN\OO
&XDQGR WHUPLQ© GH OHHU OOHJX© DO FRQYHQFLPLHQWR GH TXH PL
DPLJR -HN\OO HVWDED ORFR 3HUR PH VHQW REOLJDGR D KDFHU OR TXH
PHSHGD6LQRHQWHQGDXQDSDODEUDGHORTXHGHFDHQODFDUWD
PHQRV SRGD MX]JDU VX LPSRUWDQFLD QR REVWDQWH QR HUD FDSD] GH
GHVRUXQUXHJRUHGDFWDGRHQHVRVW©UPLQRV
$VHVTXHPHOHYDQW©GHODPHVDWRP©XQFRFKH\PHGLULJD
FDVD GH -HN\OO 6X PD\RUGRPR HVSHUDED PL OOHJDGD +DED
UHFLELGRDVXYH]XQDFDUWDFRQODVLQVWUXFFLRQHV\GHLQPHGLDWR
HQYL³ D EXVFDU D XQ FHUUDMHUR \ D XQ FDUSLQWHUR /RV FXDWUR QRV
HQFDPLQDPRVDOTXLU³IDQR\GHDKDOJDELQHWHSULYDGRGHOGRFWRU
-HN\OO
/DSXHUWDHVPDFL]D\ODFHUUDGXUDH[FHOHQWH\HOFDUSLQWHURQRV
DVHJXU³ TXH KDUD XQ JUDQ GHVWUR]R VL HPSOHDED OD IXHU]D SRU VX
SDUWH HO FHUUDMHUR VH DOWHU³ DO YHU OD PDJQLWXG GH OD WDUHD TXH OH
HVSHUDED3RUVXHUWHHUDXQKRPEUHK¡ELO\GHVSX©VGHGRVKRUDV
GHWUDEDMRORJU³DEULUODSXHUWD/DYLWULQDPDUFDGDFRQODOHWUD(
QR HVWDED FRQ OODYH 6DTX© HO FDM³Q HQ FXHVWL³Q KLFH TXH OR
HQYROYLHUDQ\UHJUHV©FRQ©ODPLFDVDHQODSOD]DGH&DYHQGLVK
$OO H[DPLQ© VX FRQWHQLGR /RV VREUHFLWRV TXH JXDUGDEDQ ORV
SROYRV HVWDEDQ PX\ ELHQ KHFKRV SHUR QR FRQ OD PHWLFXORVLGDG
FDUDFWHUVWLFDGHXQIDUPDF©XWLFRSURIHVLRQDOGHORTXHGHGXMHTXH
ORV KDED IDEULFDGR HO SURSLR -HN\OO $O DEULU XQR GH HOORV
FRPSURE©TXHFRQWHQDORTXHPHSDUHFL³VLPSOHVVDOHVFULVWDOLQDV
GH FRORU EODQFR /D DPSROOD HQ OD TXH OXHJR FRQFHQWU© PL
DWHQFL³Q HVWDED OOHQD FRQ XQ OTXLGR FRORU URMR VDQJUH GH RORU
PX\SHQHWUDQWH\TXHDPLHQWHQGHUSRGDFRQVLVWLUHQI³VIRUR\
XQ ©WHU YRO¡WLO P¡V RWURV LQJUHGLHQWHV TXH QR VDEUD GHWDOODU (O
FXDGHUQRHUDGHORVP¡VFRUULHQWHV\VRORWUDDXQDVHULHGHIHFKDV
DQRWDGDV HQ ©O $EDUFDEDQ HVWDV XQ SHURGR GH PXFKRV D±RV \
REVHUY© TXH GLFKDV DQRWDFLRQHV VH LQWHUUXPSDQ GH PDQHUD
DEUXSWD HQ XQD IHFKD FRUUHVSRQGLHQWH DO D±R DQWHULRU 'H YH] HQ
FXDQGR SRGD OHHUVH OD SDODEUD ߡGREOHߢ \ HQ XQD RFDVL³Q DO
FRPLHQ]R GH OD OLVWD GHFD HQWUH YDULRV VLJQRV GH H[FODPDFL³Q
ߡbbb)UDFDVR7RWDOߢ
7RGR HVWR DXQTXH LQFHQWLY³ PL FXULRVLGDG HQ GHILQLWLYD QR PH
DFODU³ QDGD 7HQD HQ PLV PDQRV XQD DPSROOD FRQ GHWHUPLQDGD
VROXFL³Q \ ODV DQRWDFLRQHV UHODWLYDV D XQD VHULH GH H[SHULPHQWRV
TXH QR FRQGXFDQ D QLQJXQD XWLOLGDG SU¡FWLFD FRPR WDQWDV GH ODV
LQYHVWLJDFLRQHV GH -HN\OO 3RU TX© HVWRV REMHWRV SRGUDQ HVWDU
UHODFLRQDGRVFRQHOKRQRUODFRUGXUDRODYLGDGHPLDUUHEDWDGR
FROHJD"<VLHOKRPEUHTXHHQYLDUDFRPRPHQVDMHURSRGDYHQLU
KDVWD PL FDVD TX© OH GLILFXOWDED LU LJXDOPHQWH D OD VX\D" 3RU
ºOWLPR VL H[LVWD XQ PRWLYR TXH OH LPSHGD KDFHUOR HUD
QHFHVDULRTXH\RORUHFLELHUDHQVHFUHWR"
0LHQWUDVP¡VUHIOH[LRQDEDP¡VPHFRQYHQFDGHTXHPHKDOODED
DQWH XQ FDVR GH HQIHUPHGDG PHQWDO \ DXQTXH PDQG© D OD
VHUYLGXPEUHTXHVHUHWLUDUDFDUJX©PLSLVWRODSDUDGHIHQGHUPHVL
PHYHDREOLJDGRDHOOR
$SHQDV DFDEDEDQ GH DQXQFLDU ODV GRFH ORV UHORMHV GH /RQGUHV
VRQ³TXHGDPHQWHHOOODPDGRUGHODSXHUWD$FXGDDEULU\YLDXQ
KRPEUH GH FRUWD HVWDWXUD DJD]DSDGR HQWUH ODV FROXPQDV GHO
S³UWLFR
ߙ9LHQHGHSDUWHGHOGRFWRU-HN\OO"ߙOHSUHJXQW©
ODVLQWL³FRQXQDGHP¡QFRKLELGR\FXDQGRORLQYLW©DSDVDUQR
ORKL]RVLQODQ]DUDQWHVXQDIXUWLYDPLUDGDKDFLDODRVFXULGDGGHOD
SOD]D $ FLHUWD GLVWDQFLD YHQD XQ SROLFD FRQ VX OLQWHUQD
HQFHQGLGD \ WXYH OD LPSUHVL³Q GH TXH DO YHUOR PL YLVLWDQWH VH
VREUHVDOW³\VHDSUHVXU³DHQWUDU
&RQILHVR TXH HVWRV GHWDOOHV PH FDXVDURQ GHVDJUDGR \ TXH
30/41
PDQWXYH OD PDQR FHUFD GH OD SLVWROD FXDQGR DYDQ]DPRV KDFLD OD
VDOD GH FRQVXOWDV (VWD VH HQFRQWUDED EULOODQWHPHQWH LOXPLQDGD \
DOO SXGH REVHUYDUOR GHWHQLGDPHQWH &RPR \D KH GLFKR HO
LQGLYLGXRHUDPX\EDMR\PHLPSUHVLRQ³ODUDUDH[SUHVL³QGHVX
URVWUR XQLGD D XQD PH]FOD GH DFWLYLGDG PXVFXODU \ DSDUHQWH
GHELOLGDG GH FRQVWLWXFL³Q \ SDUWLFXODUPHQWH HO PDOHVWDU TXH
SURYRFDED VX SUR[LPLGDG HVFDORIURV D ORV TXH DFRPSD±DED XQD
QRWDEOH GLVPLQXFL³Q GHO SXOVR (Q HVH PRPHQWR OR DWULEX D XQD
LQVWLQWLYD UHSXJQDQFLD \ VLPSOHPHQWH PH DVRPEU© DQWH OR DJXGR
GHORVVQWRPDV/DPHQWDEOHPHQWHGHVGHHQWRQFHVKHGHVFXELHUWR
PRWLYRVVXILFLHQWHVSDUDFRPSUHQGHUTXHODFDXVDHUDPXFKRP¡V
SURIXQGDTXHVHHQUDL]DEDHQODQDWXUDOH]DPLVPDGHDTXHOVHU\
TXHUHVSRQGDDDOJRP¡VQREOHTXHDOSULQFLSLRGHORGLR
(VH KRPEUH TXH GHVGH TXH WUDVSXVR HO XPEUDO GH PL SXHUWD
GHVSHUW³ HQ P XQD FXULRVLGDG UHSHOHQWH LED YHVWLGR HQ XQD
PDQHUDTXHKDEUDKHFKRUHUHQRWUDVFLUFXQVWDQFLDV(OWUDMHTXH
OOHYDED GH XQ WHMLGR HOHJDQWH \ VREULR OH TXHGDED ULGFXODPHQWH
JUDQGH \ XVDED ORV SDQWDORQHV HQUROODGRV SDUD TXH QR OH
DUUDVWUDUDQSRUHOVXHORODFLQWXUDGHODFKDTXHWDOHFDDSRUGHEDMR
GHODVFDGHUDV\ODVVRODSDVVHOHUHVEDODEDQSRUORVKRPEURV6LQ
HPEDUJRHVWDLQGXPHQWDULDQRPHPRYDDULVD$OFRQWUDULRSRU
KDEHUDOJRDQRUPDO\FRQWUDKHFKRHQODHVHQFLDPLVPDGHOVXMHWR
DOJRTXHFKRFDEDVRUSUHQGD\DVTXHDEDHVDGHVDUPRQDHQFDMDED
FRQVXSHUVRQDOLGDG\ODUHIRU]DEDGHWDOPRGRTXHDPLLQWHU©V
SRUHOFDU¡FWHUGHOKRPEUHVHD±DGL³HOGHVHRGHFRQRFHUVXRULJHQ
VXYLGDVXIRUWXQD\ODSRVLFL³QTXHRFXSDEDHQHOPXQGR
7RGDV HVWDV UHIOH[LRQHV TXH WDQWR WLHPSR PH KH GHPRUDGR HQ
GHVFULELUGHVILODURQSRUPLPHQWHHQQILPRVVHJXQGRV
ߙ/RWLHQH"ߙDYHULJX³ߙ/RWLHQH"
7DQ IXHUWH HUD VX LPSDFLHQFLD TXH WRP³ PL EUD]R \ WUDW³ GH
VDFXGLUOR/RUHFKDF©DOQRWDUHQPLVYHQDVXQODWLGRGHKLHOR
ߙ&DEDOOHUR ROYLGD XVWHG TXH QR OR FRQR]FR 6L©QWHVH KDJD HO
IDYRU ߙ/H GL HO HMHPSOR LQVWDO¡QGRPH HQ PL VLOO³Q \ WUDW© GH
DGRSWDU OD DFWLWXG TXH KDEUD PRVWUDGR FRQ FXDOTXLHUD GH PLV
SDFLHQWHV KDVWD HO JUDGR HQ TXH PH OR SHUPLWD HO HVSDQWRVR
GHVDJUDGRTXHPHLQVSLUDEDHOYLVLWDQWH
ߙ/H UXHJR TXH PH GLVFXOSH GRFWRU /DQ\RQ ߙUHSOLF³ߙ 7LHQH
XVWHG PXFKD UD]³Q HQ OR TXH GLFH SHUR PL LPSDFLHQFLD VH KD
LPSXHVWR D PLV PRGDOHV +H YHQLGR D SHGLGR GH VX FROHJD HO
GRFWRU+HQU\-HN\OOFRQXQHQFDUJRGHFRQVLGHUDEOHLPSRUWDQFLD
\VHJºQHQWLHQGRߙ6HOOHY³XQDPDQRDODJDUJDQWD\FRPSURE©
TXH D SHVDU GH VX DSDUHQWH FDOPD OXFKDED FRQWUD XQ LQPLQHQWH
DWDTXHGHKLVWHULDߙ6HJºQHQWLHQGRKD\FLHUWRFDM³Q
$OOOHJDUDHVWHSXQWRPHFRPSDGHFGHVXDQJXVWLD\WDPEL©QGH
PLFXULRVLGDGFUHFLHQWH
ߙ$KORWLHQHߙGLMHVH±DODQGRHOVLWLRGRQGHVHKDOODEDHOFDM³Q
(OKRPEUHVHDFHUF³D©OGHXQVDOWR/XHJRVHGHWXYR\VHOOHY³
XQD PDQR DO FRUD]³Q (VFXFK© UHFKLQDU VXV GLHQWHV SRU OD DFFL³Q
FRQYXOVLYDGHVXPDQGEXOD\VXURVWURDGTXLUL³XQDH[SUHVL³QWDQ
DE\HFWDTXHVHQWPLHGRSRUVXUD]³Q\SRUVXYLGD
ߙb&¡OPHVHSRUIDYRUF¡OPHVHߙOHUHFRPHQG©
OPHGLULJL³XQDVRQULVDVLQLHVWUD\FXDQGRYLRHOFRQWHQLGRGHO
FDM³Q DUWLFXO³ XQ VROOR]R GH LQPHQVR DOLYLR 6HJXQGRV GHVSX©V
FRQODYR]\DVHUHQDPHSUHJXQW³
ߙ7LHQHXQYDVRFRQPHGLGDV"
0HOHYDQW©\OHHQWUHJX©ORTXHPHSHGD
$JUDGHFL³ 0LGL³ XQDV JRWDV GH OD WLQWXUD URML]D \ D±DGL³ RWUD
SRUFL³Q QILPD GH SROYRV /D PL[WXUD SULQFLSL³ D REVFXUHFHU
PLHQWUDV ORV FULVWDOHV VH GHVKDFDQ D EXUEXMHDU DXGLEOHPHQWH \
DUURMDUQXEHVGHYDSRU'HSURQWRODHEXOOLFL³QFHV³\ODPH]FOD
DGTXLUL³ XQ WRQR SºUSXUD RVFXUR TXH OHQWDPHQWH VH FRQYLUWL³ HQ
YHUGH DFXRVR (VH KRPEUH TXH FRQWHPSODED WRGDV HVWDV
PHWDPRUIRVLVFRQJHVWRFRPSODFLGRGHM³HOYDVRVREUHODPHVD\
VHYROYL³KDFLDP
31/41
ߙ$KRUD DFDEHPRV FRQ HVWH DVXQWR ߙDILUP³ߙ 4XLHUH VHU
UD]RQDEOH \ DSUHQGHU GH ORV GHP¡V" 6RSRUWDU¡ TXH \R FRMD HVWH
YDVR \ PH YD\D GH VX FDVD VLQ P¡V H[SOLFDFLRQHV" 2 OD
FXULRVLGDGTXHVLHQWHHVGHPDVLDGRSDUDXVWHG"3L©QVHORELHQDQWHV
GHFRQWHVWDUPHSRUTXHKDU©H[DFWDPHQWHORTXHXVWHGPHRUGHQH
6LGHFLGHTXHPHYD\DTXHGDU¡FRPRHVWDEDQLP¡VULFRQLP¡V
VDELRVDOYRTXHKDFHUXQIDYRUDXQDPLJRHQSHOLJURGHPXHUWH
DXPHQWHODVULTXH]DVGHVXHVSULWX6LGHFLGHTXHPHTXHGHDQWH
XVWHG VH DEULU¡Q QXHYRV KRUL]RQWHV GH FRQRFLPLHQWR \ QXHYRV
FDPLQRV KDFLD HO SRGHU $TX HQ HVWD KDELWDFL³Q DQWH VXV RMRV
YHU¡XQSURGLJLR
ߙ&DEDOOHUR QR HQWLHQGR VXV HQLJPDV ߙOH GLMH DSDUHQWDQGR XQD
WUDQTXLOLGDG TXH HVWDED PX\ OHMRV GH VHQWLUߙ \ TXL]¡V QR VH
VRUSUHQGDVLDILUPRTXHVXVSDODEUDVQRGHVSLHUWDQPLFUHGXOLGDG
3HURKHOOHJDGRPX\OHMRVHQHVWDDYHQWXUDLQH[SOLFDEOH\QRPH
YR\DGHWHQHUDQWHVGHYHUHOILQDO
ߙb/DQ\RQUHFXHUGDORTXHDFDEDVGHGHFLUߙUHSOLF³HOYLVLWDQWHߙ
/R TXH DKRUD YHU¡V GHEH TXHGDU EDMR HO VHFUHWR GH QXHVWUD
SURIHVL³Q b7º TXH GXUDQWH WDQWR WLHPSR KDV VRVWHQLGR ODV
RSLQLRQHV P¡V HVWUHFKDV Wº TXH KDV QHJDGR OD H[LVWHQFLD GH OD
PHGLFLQD WUDVFHQGHQWDO Wº TXH WH KDV EXUODGR GH ORV TXH WH
VXSHUDEDQHQVDEHUPLUD
'LFLHQGR HVWR VH OOHY³ HO YDVR D ORV ODELRV \ VH EHEL³ HO
FRQWHQLGR 'HM³ HVFDSDU XQ JULWR JLU³ VREUH V PLVPR VH
WDPEDOH³VHDIHUU³DODPHVD\TXHG³DOOPLUDQGRHOYDFRFRQ
ORVRMRVLQ\HFWDGRVHQVDQJUH\UHVSLUDQGRHQWUHFRUWDGDPHQWH
0LHQWUDV OR REVHUYDED SULQFLSL³ D RSHUDUVH XQD WUDQVIRUPDFL³Q
HQ©O'HSURQWRFRPHQ]³DKLQFKDUVHVXURVWURVHHQQHJUHFL³\
VXVUDVJRVSDUHFLHURQGHUUHWLUVH\GHVGLEXMDUVH
8Q PRPHQWR GHVSX©V PH OHYDQW© GH JROSH \ PH DILUP© HQ OD
SDUHGFRQXQEUD]RDQWHPLURVWURSDUDSURWHJHUPHGHWDOSURGLJLR
KXQGLGRHQHOHVSDQWRߙb'LRVPRb'LRVPRߙUHSHWXQD\PLO
YHFHV
$OO DQWH PLV RMRV WDQWHDQGR HO DLUH FRQ ODV PDQRV S¡OLGR \
WHPEORURVRFRPRXQKRPEUHUHVXFLWDGRGHODWXPEDHVWDED+HQU\
-HN\OO
(VLPSRVLEOHFRQVLJQDUSRUHVFULWRORTXHPHGLMRGXUDQWHODKRUD
VLJXLHQWH9LORTXHYLRORTXHR\PLHVSULWXVHHVWUHPHFL³1R
REVWDQWHDKRUDTXHWDOYLVL³QKDGHVDSDUHFLGRPHSUHJXQWRVLOR
FUHR \ QR V© TX© FRQWHVWDU 0L YLGD VH KD FRQPRYLGR KDVWD ORV
FLPLHQWRVHOVXH±RPHKDDEDQGRQDGR\HOPLHGRPHDFRPSD±D
GXUDQWHWRGDVODVKRUDVGHOGD\GHODQRFKH6LHQWRTXHPLILQVH
DFHUFD
(Q FXDQWR D OD UXLQGDG DO HQYLOHFLPLHQWR TXH HVH KRPEUH PH
UHYHO³ DºQ FRQ O¡JULPDV HQ ORV RMRV QR SXHGR SHQVDU VLQ
HVWUHPHFHUPHGHSDYRU1RGLU©P¡VTXHXQDFRVD8WWHUVRQ\HOOD
HVP¡VTXHVXILFLHQWHHOKRPEUHTXHVHLQWURGXMRDTXHOODQRFKHHQ
PL FDVD HV HO TXH WRGRV FRQRFHQ VHJºQ FRQIHVL³Q GHO PLVPR
-HN\OOSRUHOQRPEUHGH(GZDUG+\GHHOTXHEXVFDQHQWRGRVORV
ULQFRQHVGHOSDVSRUHODVHVLQDWRGH&DUHZ+$67,(/$1<21
32/41
+HQU\-HN\OOH[SOLFDTX©RFXUUL³
1DFHQHOD±RKHUHGHURGHXQDJUDQIRUWXQD,QFOLQDGRSRU
QDWXUDOH]D DO WUDEDMR JRF© GHVGH PX\ MRYHQ GHO UHVSHWR GH ORV
PHMRUHV \ P¡V VDELRV GH PLV VHPHMDQWHV 7RGR PH DXJXUDED XQ
SRUYHQLUEULOODQWH\KRQUDGR/RFLHUWRHVTXHODP¡VJUDYHGHPLV
IDOWDVQRHUDP¡VTXHXQDGLVSRVLFL³QDOHJUHHLPSDFLHQWHGLIFLO
GHFRPSDJLQDUFRQHOGHVHRLPSHULRVRGHGHVSHUWDUODDGPLUDFL³Q
GH WRGRV\SUHVHQWDUDQWH OD VRFLHGDG XQD DSDULHQFLDJUDYH3RU
HVWD UD]³Q RFXOW© PLV SODFHUHV \ FXDQGR DOFDQF© XQD HWDSD GH
UHIOH[L³Q HQ TXH HO KRPEUH SULQFLSLD D PLUDU HQ WRUQR D V \ D
HYDOXDU VXV SURJUHVRV \ OD SRVLFL³Q TXH KD ORJUDGR \R HVWDED
HQWUHJDGR D XQD SURIXQGD GXSOLFLGDG HQ PL H[LVWHQFLD 0XFKRV
KRPEUHV SRGUDQ KDEHUVH MDFWDGR FRQ ODV LUUHJXODULGDGHV TXH \R
FRPHWD SHUR FRQVLGHUDQGR OD LPSRUWDQWH PHWD TXH PH SURSRQD
FRQTXLVWDUODVHVFRQGFRQXQDYHUJ¼HQ]DFDVLPRUERVD
)XHHQFRQVHFXHQFLDODH[DJHUDFL³QGHPLVDVSLUDFLRQHV\QROD
PDJQLWXGGHPLVIDOWDVORTXHPHGLYLGL³LQWHULRUPHQWHVHSDUDQGR
H[DJHUDGDPHQWH ORV GRV H[WUHPRV GHO ELHQ R GHO PDO TXH
FRPSRQHQODGREOHQDWXUDOH]DGHOKRPEUH
6LQHPEDUJRDSHVDUGHPLPDUFDGDGXDOLGDGQRHUDHQQLQJXQ
VHQWLGR KLS³FULWD \ PLV GRV FDUDV HUDQ LJXDOPHQWH VLQFHUDV
,JXDOPHQWHHUD\RFXDQGRDEDQGRQDQGRWRGRIUHQRPHHQWUHJDED
D DFWRV TXH SRGUDQ OODPDUVH GHVKRQHVWRV TXH FXDQGR PH
GHGLFDED D SURIXQGL]DU PLV FRQRFLPLHQWRV \ D DOLYLDU HO GRORU
DMHQR<RFXUUL³TXHPLVHVWXGLRVFLHQWILFRVTXHDSXQWDEDQDOR
PVWLFR \ OR WUDVFHQGHQWH LQIOX\HURQ \ DUURMDURQ XQ UD\R GH OX]
SRWHQWHVREUHHOHQWHQGLPLHQWRGHODJXHUUDSHUHQQHHQWUHPLVGRV
SHUVRQDOLGDGHV &DGD GD FRQ OD D\XGD GHO DVSHFWR PRUDO \ GHO
DVSHFWRLQWHOHFWXDOGHPLLQWHOLJHQFLDPHDFHUFDEDP¡VDODYHUGDG
FX\RGHVFXEULPLHQWRPHKDHPSXMDGRDHVWHWHUULEOHQDXIUDJLR\
TXHFRQVLVWHHQTXHHOVHUKXPDQRQRHVVRORXQRVLQRGRV<GLJR
GRVSRUTXHPLVH[SHULHQFLDVQRKDQLGRP¡VDOO¡2WURVYHQGU¡Q
P¡VDGHODQWHRWURVTXHPHVREUHSDVDU¡QHQFRQRFLPLHQWRV\PH
DWUHYRDSUHGHFLUTXHDOILQHOKRPEUHVHU¡UHFRQRFLGRFRPRXQ
FRQJORPHUDGR GH SHUVRQDOLGDGHV GLYHUVDV LQGHSHQGLHQWHV \
GLVFUHSDQWHV
<R SRU PL SDUWH DYDQF© LQIDOLEOHPHQWH VROR HQ XQD GLUHFFL³Q
)XHHQHOWHUUHQRPRUDO\HQPPLVPRGRQGHDSUHQGDFRQRFHU
OD SULPLWLYD GXDOLGDG GHO KRPEUH 9L TXH ODV GRV QDWXUDOH]DV TXH
FRQWHQD PL FRQFLHQFLD HUDQ PDV SRUTXH \R HUD UDGLFDOPHQWH ODV
GRV \ PH GHGLTX© D SHQVDU FRQ SODFHU FRPR TXLHQ DFDULFLD XQ
VXH±RHQODVHSDUDFL³QGHHVWRVGRVHOHPHQWRV
6LFDGDXQRPHGHFDSXGLHUDDORMDUVHHQXQDLGHQWLGDGGLVWLQWD
OD YLGD TXHGDUD GHVSRMDGD GH OR TXH DKRUD PH UHVXOWD
LQVRSRUWDEOH (O SHFDGRU SRGUD VHJXLU VX FDPLQR OLEUH GH ORV
UHPRUGLPLHQWRV \ DVSLUDFLRQHV GH VX KHUPDQR HVWULFWR (O MXVWR
SRU VX SDUWH DYDQ]DUD IXHUWH \ VHJXUR SRU HO FDPLQR GH OD
SHUIHFFL³QFRPSODFL©QGRVHHQVXVEXHQDVREUDV\VLQH[SRQHUVHD
ODV GHVJUDFLDV TXH SURSLFLDED HO S©UILGR GHVFRQRFLGR TXH
DUUDVWUDEDFRQVLJR(UDXQDPDOGLFL³QSDUDODKXPDQLGDGTXHHVDV
GRV UDPDV RSXHVWDV HVWXYLHUDQ XQLGDV DV SDUD VLHPSUH HQ ODV
HQWUD±DV GH OD FRQFLHQFLD TXH HVRV GRV JHPHORV HQHPLJRV
EDWDOODUDQVLQGHVFDQVR&³PRORJUDUGLVRFLDUORV"
+DED OOHJDGR KDVWD DTX HQ PLV UHIOH[LRQHV FXDQGR FLHUWD
OXPLQRVLGDG TXH SDUWD GH OD PHVD GHO ODERUDWRULR SULQFLSL³ D
DFODUDUG©ELOPHQWHHOKRUL]RQWH'HSURQWRFRPHQF©DSHUFLELUHQ
IRUPDPXFKRP¡VQWLGDODLQPDWHULDOLGDGWHPEORURVDODHIPHUD
LQFRQVLVWHQFLD GH HVWH FXHUSR TXH HV QXHVWUD YHVWLGXUD FDUQDO HQ
DSDULHQFLD WDQ V³OLGR 'HVFXEU TXH FLHUWRV DJHQWHV WHQDQ OD
FDSDFLGDGGHDOWHUDU\KDVWDGHDUUDQFDUHVWDYHVWLGXUDGHOPLVPR
PRGRTXHHOYLHQWRDJLWDORVFRUWLQDMHVGHXQYHQWDQDO1RYR\D
DGHQWUDUPH HQ HO DVSHFWR FLHQWILFR GH PL FRQIHVL³Q SRU GRV
33/41
UD]RQHV OD SULPHUD SRUTXH KH FRPSUREDGR TXH FDGD KRPEUH
FDUJDFRQVXGHVWLQRDORODUJRGHVXYLGD\TXHFXDQGRWUDWDGH
VDFXGUVHOR GH ORV KRPEURV OH YXHOYH D FDHU FRQ PD\RU SHVR OD
VHJXQGD SRUTXH FRPR GHM© HQ FODUR PLV GHVFXEULPLHQWRV VRQ
LQFRPSOHWRV%DVWDU¡FRQTXHGLJDTXHQRVRORDSUHQGDGLVWLQJXLU
PL FXHUSR PDWHULDO GH OD HPDQDFL³Q GH DOJXQRV SRGHUHV TXH
FRPSRQHQPLHVSULWXVLQRTXHOOHJX©DIDEULFDUXQDS³FLPDSRU
PHGLR GH OD FXDO FRQVHJX GHVSRMDU D HVWRV SRGHUHV GH VX
VXSUHPDFD\VXVWLWXLUPLDVSHFWRSRUXQDVHJXQGDDSDULHQFLDQR
PHQRV QDWXUDO SDUD P SXHVWR TXH FRQVWLWXD OD H[SUHVL³Q GH ORV
HOHPHQWRVP¡VEDMRVGHPLHVSULWX\OOHYDEDVXVHOOR
'XG© PXFKR DQWHV GH OOHYDU D OD SU¡FWLFD HVWD WHRUD 6DED TXH
FRUUD SHOLJUR GH PXHUWH \D TXH XQ PHGLFDPHQWR TXH WHQD HO
LQPHQVR SRGHU GH FRQPRYHU \ FRQWURODU OD LGHQWLGDG SRGD
DQLTXLODU WRWDOPHQWH HVH WDEHUQ¡FXOR TXH \R SUHWHQGD DOWHUDU
%DVWDUDXQVLPSOHHUURUHQODGRVLVRODVFLUFXQVWDQFLDVHQTXHOD
DGPLQLVWUDUD$OILQODWHQWDFL³QGHOOHYDUDFDERHOH[SHULPHQWR
YHQFL³WRGRVPLVWHPRUHV+DFDWLHPSRTXHKDEDSUHSDUDGRJUDQ
SDUWH GH OD GURJD \ FRPSU© HQ XQD ILUPD GH SURGXFWRV TXPLFRV
EDVWDQWH FDQWLGDG GH XQD GHWHUPLQDGD VDO TXH HUD HO ºOWLPR
FRPSRQHQWH TXH IDOWDED $ XQD KRUD DYDQ]DGD GH XQD QRFKH TXH
PDOGLJR PH]FO© HVWRV LQJUHGLHQWHV ORV YL EXOOLU \ KXPHDU HQ OD
SUREHWD\FXDQGRHOKHUYRUVHGLVLS³EHEODSRFL³Q
6HQW XQDV VDFXGLGDV GHVJDUUDGRUDV HO UHFKLQDU GH WRGRV PLV
KXHVRVXQDQ¡XVHDSURIXQGD\XQKRUURUTXHQRSRGUDVREUHSDVDU
HO P¡V KRQGR PLHGR D OD PXHUWH /XHJR OD DJRQD SULQFLSL³ D
GLVLSDUVH \ UHFREU© HO FRQRFLPLHQWR VLQWL©QGRPH FRPR VL VDOLHUD
GH XQD WHUULEOH HQIHUPHGDG ([SHULPHQW© DOJR H[WUD±R HQ PLV
VHQVDFLRQHV DOJR LQGHVFULSWLEOHPHQWH QXHYR \ SRU OR PLVPR
H[WUHPDGDPHQWH DJUDGDEOH (UD P¡V MRYHQ P¡V OLJHUR P¡V IHOL]
IVLFDPHQWH \ HQ PL LQWHULRU FROPDGR GH XQD IRJRVLGDG
LPSHWXRVD 3RU PL LPDJLQDFL³Q FUX]³ XQD VXFHVL³Q GH LP¡JHQHV
VHQVXDOHVHQXQDGHVHQIUHQDGDFDUUHUD\HQWHQGTXHVHGLVROYDQ
ORVYQFXORVFRQWRGDVPLVREOLJDFLRQHV8QDOLEHUWDGGHVFRQRFLGD
DXQTXHQRLQRFHQWHPHLQYDGL³6XSHDOUHVSLUDUHVWDYLGDQXHYD
TXH HUD SHUYHUVR YHQGLGR D PL PDO RULJLQDO \ VROR SHQVDUOR PH
GHOHLW³ FRPR XQ YLQR H[TXLVLWR 3HUR DO HVWLUDU ORV EUD]RV
H[XOWDQWH GLFKRVR FRPSURE© TXH PL HVWDWXUD VH KDED UHGXFLGR
QRWDEOHPHQWH
(QDTXHOORVGDVQRWHQDXQHVSHMRHQPLJDELQHWH(OTXHKD\D
PLODGRPLHQWUDVHVFULERORWUDMHGHVSX©VSUHFLVDPHQWHSRUFDXVD
GHHVWDVWUDQVIRUPDFLRQHV(QWUHWDQWRODQRFKHVHKDEDFDPELDGR
HQPDGUXJDGD\HVDPDGUXJDGDHVWDEDDSXQWRGHDOXPEUDUHOGD
/RVKDELWDQWHVGHPLFDVDVHHQFRQWUDEDQVXPHUJLGRVHQHOVXH±R
\GHFLGSOHQRGHHVSHUDQ]DV\GHWULXQIRDYHQWXUDUPHHQYXHOWR
HQPLQXHYDIRUPDKDVWDPLGRUPLWRULR
&UXF© HO MDUGQ GRQGH ODV FRQVWHODFLRQHV PH FRQWHPSODURQ
GHVGH ODV DOWXUDV FRQ DVRPEUR (UD OD SULPHUD FULDWXUD GH HVD
HVSHFLH TXH FRQWHPSODEDQ HQ VX LQVRPQH YLJLODQFLD GHVGH HO
QDFHUGHORVWLHPSRV5HFRUUORVSDVLOORVVLQWL©QGRPHXQH[WUD±R
HQ PL SURSLD FDVD \ DO HQWUDU HQ PL GRUPLWRULR HQIUHQW© SRU
SULPHUDYH]D(GZDUG+\GH
(OODGRPDORGHPLQDWXUDOH]DDOTXHOHKDEDRWRUJDGRHOSRGHU
GH DQLTXLODU WHPSRUDOPHQWH DO RWUR HUD PHQRV GHVDUUROODGR (VWR
HUDQDWXUDOFRQVLGHUDQGRTXHHQHOFXUVRGHPLYLGDGHGLFDGDFDVL
HQVXWRWDOLGDGDOHVIXHU]RDODYLUWXG\DODUHQXQFLDFL³QORKDED
HMHUFLWDGR \ KHFKR FUHFHU PXFKR PHQRV 3RU HVD UD]³Q (GZDUG
+\GH HUD PXFKR P¡V EDMR GHOJDGR \ MRYHQ TXH +HQU\ -HN\OO \
GHOPLVPRPRGRTXHHOELHQLOXPLQDEDHOVHPEODQWHGHORWURHVH
PDO PDUFDED DTXHO FXHUSR FRQ XQD KXHOOD GH GHIRUPLGDG \
GHJHQHUDFL³Q 6LQ HPEDUJR FXDQGR HVH GROR IHR VH UHIOHM³ HQ HO
HVSHMR QR VHQW UHSXJQDQFLD VLQR XQD HQRUPH DOHJUD (VH
WDPEL©Q HUD \R 0H SDUHFL³ QDWXUDO \ KXPDQR XQD LPDJHQ P¡V
ILHO GH PL HVSULWX P¡V GLUHFWD \ VHQFLOOD TXH HVH DVSHFWR TXH
34/41
KDVWDHQWRQFHVUHFRQRFDFRPRPR
+HREVHUYDGRTXHFXDQGRWRPRODDSDULHQFLDGH+\GHQDGLHVH
DFHUFD D P VLQ VXIULU XQ YLVLEOH HVWUHPHFLPLHQWR (VWR VH GHEH
VXSRQJRDTXHWRGRVORVVHUHVKXPDQRVVRQXQDPH]FODGHELHQ\
PDO \ (GZDUG +\GH ºQLFR HQWUH ORV KRPEUHV HV VRODPHQWH HO
PDO
0H PLU© HQ HO HVSHMR XQ LQVWDQWH $KRUD GHED LQWHQWDU HO
H[SHULPHQWRVHJXQGR\GHFLVLYR(UDQHFHVDULRDYHULJXDUVLKDED
SHUGLGR PL LGHQWLGDG SDUD VLHPSUH \ WHQGUD TXH HVFDSDU GH
DTXHOOD FDVD TXH \D QR PH SHUWHQHFHUD $ WRGD SULVD UHJUHV© DO
JDELQHWH SUHSDU© XQD YH] P¡V OD GURJD OD EHE VXIU RWUD YH] OD
DJRQD GH OD GLVJUHJDFL³Q \ YROY HQ P GH QXHYR FRQ OD
SHUVRQDOLGDGODHVWDWXUD\HOURVWURGH+HQU\-HN\OO
$TXHOODQRFKHOOHJX©DOIDWDOFUXFHGHORVFDPLQRV6LXQHVSULWX
P¡V QREOH PH KXELHUD DQLPDGR DO HQIUHQWDUPH FRQ PL
GHVFXEULPLHQWRVLPHKXELHVHQLPSXOVDGRDVSLUDFLRQHVSLDGRVDVR
JHQHURVDV WRGR VHUD GLVWLQWR 'H HVDV DJRQDV GH QDFLPLHQWR \
PXHUWH SRGUD KDEHU VXUJLGR XQ ¡QJHO \ QR XQ GHPRQLR 3HUR \R
PH OLPLWDED D DEULU ODV SXHUWDV GH XQD SULVL³Q \ HO TXH HVWDED
HQFHUUDGR GHQWUR GH P KXD DO H[WHULRU %DMR VX LQIOXHQFLD PL
ERQGDG VH DGRUPHFD PLHQWUDV TXH PL PDOGDG PDQWHQLGD DOHUWD
SRU PL DPELFL³Q DSURYHFKDED OD RSRUWXQLGDG \ (GZDUG +\GH
DIORUDED D OD VXSHUILFLH $V DXQTXH DKRUD WHQD GRV
SHUVRQDOLGDGHV FRQ VXV UHVSHFWLYDV DSDULHQFLDV XQD HVWDED
IRUPDGD QWHJUDPHQWH SRU OD PDOGDG PLHQWUDV TXH OD RWUD
FRQWLQXDEDVLHQGR+HQU\-HN\OOXQDPH]FODLQFRQJUXHQWHHQFX\D
UHIRUPD\RQRWHQDPXFKDVHVSHUDQ]DV(QFRQVHFXHQFLDHOSDVR
TXHDFDEDEDGHGDUHUDHQIDYRUGHORSHRUTXHH[LVWDHQP
(Q HVRV GDV QR KDED ORJUDGR GRPLQDU OD DYHUVL³Q TXH PH
SURGXFDODYLGDGHHVWXGLR\VXWUHPHQGDDULGH]6HJXDWHQLHQGR
XQD GLVSRVLFL³Q DOHJUH \ GHVHQIDGDGD \ FRQVLGHUDQGR TXH PLV
SODFHUHV HUDQ SRFR GLJQRV \ D P VH PH FRQRFD \ UHVSHWDED HQ
JUDGR VXPR HVWD FRQWUDGLFFL³Q VH PH KDFD GD D GD PHQRV
VRSRUWDEOH/DDJUDYDEDHOKHFKRGHLUPHDFHUFDQGRDODPDGXUH]
3RUHVWHODGRPHWHQW³PLQXHYRSRGHUKDVWDTXHPHFRQYLUWL³HQ
VXHVFODYR
1R WHQD P¡V TXH EHEHU OD GURJD SDUD DEDQGRQDU HO FXHUSR GHO
UHVSHWDEOH GRFWRU -HN\OO \ UHYHVWLUPH FRPR VL VH WUDWDUD GH XQ
JUXHVRDEULJRFRQODSHUVRQDOLGDG\HODVSHFWRGH(GZDUG+\GH
/R SUHSDU© WRGR FRQ HO FXLGDGR P¡V PHWLFXORVR $OTXLO© \
DPXHEO© OD FDVD GHO 6RKR \ FRQWUDW© FRPR DPD GH OODYHV D XQD
PXMHU GLVFUHWD DXQTXH SRFR HVFUXSXORVD $QXQFL© D PL
VHUYLGXPEUH TXH 0VWHU +\GH D TXLHQ HVFULE GLVIUXWDUD GH
SOHQRVSRGHUHV\OLEHUWDGHQPLFDVD\SDUDHYLWDUFRQWUDWLHPSRV
PH SUHVHQW© FRQ PL VHJXQGR DVSHFWR \ PH FRQYHUW HQ YLVLWDQWH
DVLGXR 'HVSX©V UHGDFW© HO WHVWDPHQWR DO TXH WDQWRV UHSDURV
SXVLVWH GH PRGR TXH VL DOJR PH RFXUUD HQFRQWU¡QGRPH FRQ OD
DSDULHQFLD GH -HN\OO SRGUD UHIXJLDUPH HQ OD GH +\GH VLQ WHQHU
TXH SUHVFLQGLU GH PL IRUWXQD &UH\©QGRPH ELHQ SURWHJLGR
FRPHQF© D EHQHILFLDUPH GH OD LQPXQLGDG TXH PH RIUHFD PL
SRVLFL³Q
6DEHPRV GH KRPEUHV TXH FRQWUDWDQ PDOKHFKRUHV SDUD TXH
FRPHWDQFUPHQHVSRUHOORVFXLGDQGRTXHVXUHSXWDFL³QQRVXIUD
PHQRVFDER<RORKHKHFKRSRUSXURSODFHU+HVLGRHOºQLFRTXH
KHSRGLGRSUHVHQWDUPHDORVRMRVGHOSºEOLFRFDUJDGRGHGLJQLGDG
\XQLQVWDQWHP¡VWDUGHGHVSRMDUPHGHHVDYHVWLGXUD\ODQ]DUPH
GH FDEH]D D OD OLEHUWDG 3DUD P SURWHJLGR FRQ PL PDQWR
LPSHQHWUDEOH OD VHJXULGDG HUD WRWDO 6ROR WHQD TXH HQWUDU HQ PL
ODERUDWRULR PH]FODU OD SRFL³Q TXH VLHPSUH WHQD SUHSDUDGD
WRPDUOD \ QR LPSRUWD OR TXH KXELHUD KHFKR (GZDUG +\GH
GHVDSDUHFD FRPR HO DOLHQWR HQ XQ HVSHMR (Q VX OXJDU VH
HQFRQWUDEDHOGRFWRU+HQU\-HN\OOXQKRPEUHTXHSRGDUHUVHGH
ODVVRVSHFKDV
&RPR \D KH GLFKR ORV SODFHUHV TXH PH DSUHVXU© D EXVFDU HUDQ
35/41
LQGLJQRV 1R PHUHFHQ XQ W©UPLQR P¡V IXHUWH 3HUR HQ PDQRV GH
+\GH SURQWR VH YROYLHURQ PRQVWUXRVRV &XDQGR YROYD GH PLV
H[FXUVLRQHVQRFWXUQDVPHDVXVWDEDODSHUYHUVLGDGGHPLRWUR\R
(VWHVHUTXHKDEDOHYDQWDGRGHODVFDYHUQDVGHPLSURSLRHVSULWX
DO TXH KDED HQYLDGR HQ EXVFD GHO SODFHU HUD S©UILGR 7RGRV VXV
DFWRV \ VXV SHQVDPLHQWRV VH FHQWUDEDQ HQ V PLVPR EHED FRQ
EHVWLDODYLGH]HOSODFHUTXHOHFDXVDEDODWRUWXUDGHORVRWURV\HUD
LQVHQVLEOH FRPR XQD SLHGUD $ YHFHV +HQU\ -HN\OO H[DPLQDED
DVXVWDGR ORV DFWRV GH (GZDUG +\GH 1R REVWDQWH OD VLWXDFL³Q VH
KDOODED WDQ OHMRV GH ODV OH\HV QRUPDOHV TXH LQVLGLRVDPHQWH
UHODMDED HO SRGHU GH OD FRQFLHQFLD $ OD SRVWUH HO FXOSDEOH HUD
+\GH \ VROR +\GH -HN\OO QR HUD SHRU FXDQGR VH GHVSHUWDED \
UHFXSHUDED VX ERQGDG DSDUHQWHPHQWH LQF³OXPH ,QFOXVR VL HUD
SRVLEOHPHDSUHVXUDEDDUHSDUDUHOGD±RSURYRFDGRSRU+\GH$V
PLFRQFLHQFLDVHIXHDGRUPHFLHQGR
1RTXLHURHQWUDUHQGHWDOOHVGHODVLQIDPLDVHQODVTXH FRODERU©
\D TXH WRGDYD PH UHVLVWR D DGPLWLU TXH ODV KD\D FRPHWLGR 6ROR
PHSURSRQJRFRQVLJQDUORVDYLVRVTXHSUHFHGLHURQDPLFDVWLJR\
ORVSDVRVVXFHVLYRVFRQTXH©VWHOOHJ³KDVWDP
8QD QRFKH RFXUUL³ XQ LQFLGHQWH TXH SRU QR WUDHUPH
FRQVHFXHQFLDV QR KDU© P¡V TXH PHQFLRQDU 8Q DFWR GH FUXHOGDG
GHO TXH IXH YFWLPD XQD QL±D DWUDMR VREUH P ODV LUDV GH XQ
FDEDOOHUR DO TXH UHFRQRF HO RWUR GD FRPR XQ DPLJR VX\R (O
P©GLFR\IDPLOLDUHVGHODQL±DORVHFXQGDURQ\KXERPRPHQWRVHQ
TXH WHP SRU PL YLGD )LQDOPHQWH FRQ HO REMHWR GH DSODFDU OD
LQGLJQDFL³Q GH HVWD JHQWH (GZDUG +\GH WXYR TXH GDUOHV XQ
FKHTXH GH +HQU\ -HN\OO 3DUD TXH HQ HO IXWXUR QR RFXUULHUD QDGD
VHPHMDQWH DEU XQD FXHQWD HQ RWUR %DQFR D QRPEUH GH +\GH \
YDULDQGRPLFDOLJUDIDOHSURSRUFLRQ©XQDILUPD+HFKRHVWRSHQV©
TXHPHKDOODEDIXHUDGHODOFDQFHGHOGHVWLQR
'RV PHVHV DQWHV GHO DVHVLQDWR GH 6LU 'DQYHUV &DUHZ UHJUHV© D
FDVDXQDQRFKHEDVWDQWHWDUGH\DOGDVLJXLHQWHGHVSHUW©FRQXQD
VHQVDFL³QH[WUD±D2EVHUY©HQWRUQRDP\HQYDQRUHFRQRFPLV
PXHEOHV\HODOWRWHFKRGHPLGRUPLWRULRHQYDQRYLHOGLEXMRGH
ODVFRUWLQDVGHODFDPD\ODWDOODGHODVFROXPQDVGHFDRED$OJR
PHGHFDTXHQRHVWDEDGRQGHGHEDHVWDUTXHQRKDEDGHVSHUWDGR
GRQGH FUHD KDOODUPH VLQR HQ HO SHTXH±R FXDUWR GHO 6RKR HQ HO
TXH VROD GRUPLU FRQ OD DSDULHQFLD GH (GZDUG +\GH 6RQUH \
HPSHF© D HVWXGLDU ORV GLYHUVRV HOHPHQWRV TXH SRGDQ FUHDU HVWD
LOXVL³QKXQGL©QGRPHHQXQVXDYHVRSRUPLHQWUDVORKDFD3HURGH
SURQWR PL PLUDGD FD\³ VREUH XQD GH PLV PDQRV /DV GH +HQU\
-HN\OO VRQ ODV TXH FDUDFWHUL]DQ D XQ SURIHVLRQDO GH PHGLFLQD
JUDQGHV EODQFDV IXHUWHV ELHQ SURSRUFLRQDGDV /D PDQR TXH
PLUDED FRQ WRGD OD FODULGDG GRUDGD GH OD PD±DQD OD PDQR TXH
GHVFDQVDED VREUH OD FROFKD HUD QXGRVD GHOJDGD GH XQD SDOLGH]
FHQLFLHQWD \ HVWDED FXELHUWD GH XQ YHOOR HVSHVR (UD OD PDQR GH
(GZDUG+\GH
3HUPDQHF PXFKR UDWR HVWXSHIDFWR DQWHV GH TXH HO WHUURU
GHVSHUWDUD HQ PL SHFKR WDQ VºELWR \ YLROHQWR FRPR XQ JROSH GH
PDUWLOORV(QWRQFHVVDOW©GHODFDPD\FRUUDOHVSHMR$QWHORTXH
YLHURQPLVRMRVPLVDQJUHVHFRQYLUWL³HQXQOTXLGRKHODGRb6
DODFRVWDUPH\RHUD+HQU\-HN\OO\DKRUDHUD(GZDUG+\GH
ߡ4X© H[SOLFDFL³Q WLHQH HVWR"ߢ PH SUHJXQW© < OXHJR FRQ XQ
HVFDORIUR GH WHUURU ߡ&³PR SXHGR UHPHGLDUOR"ߢ /D PD±DQD VH
HQFRQWUDED \D EDVWDQWH DYDQ]DGD OD VHUYLGXPEUH VH KDOODED
GHVSLHUWD \ WRGRV PLV PHGLFDPHQWRV HVWDEDQ JXDUGDGRV HQ HO
JDELQHWH 3DUD OOHJDU D ©VWH QHFHVLWDED EDMDU GRV WUDPRV GH
HVFDOHUDV UHFRUUHU XQ SDVLOOR FUX]DU HO MDUGQ \ DWUDYHVDU HO
TXLU³IDQR3RGDFXEULUPHHOURVWURSHURGHTX©PHVHUYLUDVL
QR ORJUDUD RFXOWDU OD GLVPLQXFL³Q GH PL HVWDWXUD" 6ROR HQWRQFHV
UHFRUG© FRQ VHQVDFL³Q GH DOLYLR TXH ORV VLUYLHQWHV VH KDEDQ
DFRVWXPEUDGRDODVLGDV\YHQLGDVGHPLVHJXQGR\R0HYHVWOR
PHMRU TXH SXGH FRQVLGHUDQGR TXH HO WUDMH PH TXHGDED
H[DJHUDGDPHQWHJUDQGH\DWUDYHV©ODFDVDHQWHUDFUX]¡QGRPHFRQ
36/41
%UDGVDZ TXH PH PLU³ \ GLR XQ SDVR DWU¡V VRUSUHQGLGR DO YHU D
0VWHU +\GH D HVD KRUD \ FRQ XQ DWDYR WDQ UDUR 'LH] PLQXWRV
P¡V WDUGH HO GRFWRU -HN\OO UHFXSHU³ VX DSDULHQFLD QRUPDO \ VH
VHQW³DODPHVDGHOFRPHGRUGLVSXHVWRDILQJLUTXHGHVD\XQDED
1RWHQDDSHWLWR(VHLQFLGHQWHLQH[SOLFDEOHHVDLQYHUVL³QGHPL
DQWHULRU DSDULHQFLD PH SDUHFD XQ DQXQFLR GHO FDVWLJR (QWRQFHV
FRPHQF© D UHIOH[LRQDU P¡V VHULDPHQWH TXH QXQFD VREUH ODV
SRVLELOLGDGHVGHPLGREOHH[LVWHQFLD(VDSDUWHGHPPLVPRTXH
\R WHQD HO SRGHU GH SUR\HFWDU VH KDED QXWULGR \ HMHUFLWDGR HQ
JUDGR VXPR ºOWLPDPHQWH ,QFOXVR PH SDUHFD TXH HO FXHUSR GH
+\GH JDQDED HQ DOWXUD \ TXH FXDQGR PH UHYHVWD FRQ VX
DSDULHQFLD PL VDQJUH IOXD P¡V JHQHURVDPHQWH 'H SURQWR PH
LQYDGL³ODVRVSHFKDGHHVWDUFRUULHQGRHOULHVJRGHTXHVHDOWHUDUD
GHILQLWLYDPHQWH HO HTXLOLEULR GH PL QDWXUDOH]D \ OD FDSDFLGDG GH
FDPELDU D PL YROXQWDG \ PH HVSDQW³ SHQVDU TXH OD SHUVRQDOLGDG
GH(GZDUG+\GHSRGDFRQYHUWLUVHLUUHYRFDEOHPHQWHHQODPD
(O SRGHU GH OD GURJD \D QR HUD VLHPSUH HO PLVPR 8QD YH] DO
FRPLHQ]R GH PLV H[SHULPHQWRV PH KDED IDOODGR WRWDOPHQWH $
SDUWLU GH HVD RSRUWXQLGDG PH YL REOLJDGR D YHFHV D GREODU OD
GRVLV\HQXQDRFDVL³QFRQULHVJRGHPLYLGDDWULSOLFDUOD(VWR
KDED DUURMDGR OD ºQLFD VRPEUD GH GXGD VREUH OR TXH KDVWD HO
PRPHQWRHUDXQ©[LWRWRWDO$KRUDEUXVFDPHQWHFRPSUHQGDTXH
VL DQWHV OR GLIFLO HUD OLEHUDUPH GHO FXHUSR GH -HN\OO KR\ HO
SUREOHPD FRPHQ]DED D VHU HO RSXHVWR 7RGR SDUHFD VH±DODU TXH
LED SHUGLHQGR SRFR D SRFR HO FRQWURO VREUH PL SHUVRQDOLGDG
RULJLQDOODPHMRUSDUDLQFRUSRUDUPHDODVHJXQGDODSHRU
0HGLFXHQWDGHTXHGHEDHVFRJHUHQWUHXQDGHODVGRV$PEDV
WHQDQ HQ FRPºQ OD PHPRULD SHUR ODV RWUDV IDFXOWDGHV TXHGDEDQ
GHVLJXDOPHQWHUHSDUWLGDV-HN\OOSODQHDED\FRPSDUWDDYHFHVFRQ
SUXGHQWHV DSUHQVLRQHV \ RWUDV FRQ JXVWR GHVHQIUHQDGR ODV
DYHQWXUDVGH+\GH(QFDPELRD+\GHOHHUDLQGLIHUHQWH-HN\OO$
ORP¡VOHUHFRUGDEDFRPRUHFXHUGDHODVDOWDQWHHOHVFRQGLWHHQTXH
VHRFXOWDGHVXVSHUVHJXLGRUHV-HN\OOVHQWDXQLQWHU©VP¡VTXHGH
SDGUHSRU+\GHPLHQWUDVTXH+\GHPDQLIHVWDEDXQDOHMDQDPD\RU
TXH OD GH XQ KLMR SRU -HN\OO 8QLUPH GHILQLWLYDPHQWH D -HN\OO
VLJQLILFDEDUHQXQFLDUDDTXHOORVDSHWLWRVDORVTXHVHFUHWDPHQWHPH
HQWUHJX©DQWHV\TXHDOILQKDEDOOHJDGRDVDFLDU(OHJLUD+\GH
HTXLYDOD D ROYLGDUPH GH PLV LQWHUHVHV \ DVSLUDFLRQHV YHUPH
GHILQLWLYDPHQWH GHVSUHFLDGR \ VLQ DPLJRV 4XL]¡V OD RSFL³Q WH
SDUH]FD GHVLJXDO SHUR H[LVWD RWUD FRQVLGHUDFL³Q TXH ODQ]DU DO
SODWLOORGHODEDODQ]DHQWDQWRTXH-HN\OOVXIULUDTXHP¡QGRVHHQ
HO IXHJR GH OD DEVWLQHQFLD +\GH QR UHSDUDUD HQ OR TXH KDED
SHUGLGR3RUUDUDVTXHIXHUDQPLVFLUFXQVWDQFLDVHOSODQWHDPLHQWR
GH HVWD HOHFFL³Q HV WDQ YLHMR FRPR HO KRPEUH PLVPR ,G©QWLFDV
WHQWDFLRQHV \ VLPLODUHV WHPRUHV VRQ ORV TXH GHFLGHQ OD VXHUWH GH
WRGR SHFDGRU \ DV PH RFXUUL³ D P 0H GHFLG SRU PL
SHUVRQDOLGDGPHMRU\OXHJRPHHQFRQWU©VLQIXHU]DVSDUDDFDWDUPL
GHFLVL³Q
6 HOHJ DO GRFWRU PDGXUR \ GHVFRQWHQWR URGHDGR GH DPLJRV \
FROPDGR GH KRQHVWDV HVSHUDQ]DV 5HQXQFL© D OD OLEHUWDG D OD
MXYHQWXG D ORV LPSXOVRV YLROHQWRV \ D ORV PºOWLSOHV \ RVFXURV
SODFHUHVTXHGLVIUXWDEDEDMRHOGLVIUD]GH+\GH6LQHPEDUJRFUHR
TXH HOHJ FRQ LQFRQVFLHQWHV UHVHUYDV SRUTXH QR SUHVFLQG GH OD
FDVD GHO 6RKR QL GHVWUX ODV URSDV GH (GZDUG +\GH TXH
FRQWLQXDURQ FROJDGDV HQ HO LQWHULRU GH VX DUPDULR 'XUDQWH GRV
PHVHV SHUPDQHF ILHO D PL GHWHUPLQDFL³Q /OHY© XQD YLGD P¡V
VHYHUD TXH QXQFD \ GLVIUXW© GH ODV FRPSHQVDFLRQHV TXH GD XQD
FRQFLHQFLDWUDQTXLOD1RREVWDQWHFRQHOWLHPSRHPSHF©DROYLGDU
ORVWHPRUHV\PHFDQV©GHODVDODEDQ]DVTXHPHGHGLFDEDDTXHOOD
FRQFLHQFLDVDWLVIHFKD'HVHRV\DQKHORVSULQFLSLDURQDWRUWXUDUPH
FRPRVLGHQWURGHP+\GHOXFKDUDSRUHVFDSDU)LQDOPHQWHHQXQ
LQVWDQWHGHGHELOLGDGFHG0H]FO©HLQJHUGHQXHYRODGURJD
(O GHPRQLR TXH H[LVWD HQ P KDED HVWDGR SUHVR GXUDQWH WDQWR
WLHPSR TXH VXUJL³ GH VX F¡UFHO UXJLHQGR 0LHQWUDV WRPDED OD
37/41
SRFL³Q WXYH OD FHUWH]D GH TXH VX SURSHQVL³Q DO PDO HUD DºQ P¡V
YLROHQWDP¡VHQDMHQDQWH6XSRQJRTXHIXHHVRORTXHGHVSHUW³OD
WHPSHVWDG GH LPSDFLHQFLD DQWH ODV FRUWHVHV SDODEUDV GH 6LU
'DQYHUV &DUHZ 'HFODUR DQWH 'LRV TXH QLQJºQ KRPEUH
PRUDOPHQWH VDQR SRGUD FRPHWHU VHPHMDQWH FULPHQ \ TXH DVHVW©
ORV JROSHV FRQ OD PLVPD LQVHQVDWH] FRQ TXH XQ QL±R HQIHUPR
SXHGHURPSHUXQMXJXHWH9ROXQWDULDPHQWHPHKDEDGHVSRMDGRGH
WRGRVORVLQVWLQWRVTXHSURSRUFLRQDQXQHTXLOLEULR\JUDFLDVDORV
FXDOHVVHSXHGHDYDQ]DUHQWUHODVWHQWDFLRQHV(QPLFDVRSRUOHYH
TXHIXHUDODWHQWDFL³QVLJQLILFDEDLUUHPLVLEOHPHQWHODFDGD
(OHVSULWXGHOPDOGHVSHUW³FRQXQDIXULDWDQPRQVWUXRVDTXHHQ
XQWUDQVSRUWHGHDOHJUDPXWLO©HOFXHUSRLQGHIHQVRGHODYFWLPD\
VROR FXDQGR FRPHQF© D IDWLJDUPH HQ OD FXOPLQDFL³Q GHO GHOLULR
PHDVDOW³XQVºELWRHVWUHPHFLPLHQWRGHWHUURU/DQLHEODVHGLVLS³
9LVOXPEU© PL H[LVWHQFLD FRQGHQDGD DO GHVDVWUH \ KX H[DOWDGR \
WHPEORURVR FRQ HVD VHG GH PDOGDG VDWLVIHFKD \ HVWLPXODGD \ PL
DPRUDODYLGDH[DFHUEDGR
&RUUDPLFDVDGHO6RKR\SDUDPD\RUVHJXULGDGGHVWUXWRGRV
PLVGRFXPHQWRV9ROYDVDOLUDODVFDOOHVLOXPLQDGDVSRUODOX]GH
ORVIDUROHVFRQODPLVPDGXDOLGDGGHVHQVDFLRQHVUHFUH¡QGRPHHQ
HO GHOLWR \ SUR\HFWDQGR RWURV VHPHMDQWHV \ VLPXOW¡QHDPHQWH
WHPHURVR+\GHPH]FO³ODGURJDFRQODVRQULVDHQORVODELRV\DO
WRPDUOD EULQG³ SRU VX YFWLPD 3HUR ORV GRORUHV GH OD
WUDQVIRUPDFL³Q QR VH GLVLSDEDQ DºQ FXDQGR +HQU\ -HN\OO FRQ
O¡JULPDVGHUHPRUGLPLHQWRFDDGHURGLOODV\HOHYDEDVXVPDQRVD
'LRV
(O YHOR GH OD WROHUDQFLD VH KDED UDVJDGR GH DUULED DEDMR
([DPLQ© PL YLGD HQ VX WRWDOLGDG GHVGH ORV GDV GH PL LQIDQFLD
FXDQGRFDPLQDEDGHODPDQRGHPLSDGUHODVHJXDWUDY©VGHORV
UHQXQFLDPLHQWRVH[LJLGRVSRUPLSURIHVL³QSDUDGHVHPERFDUXQD
\RWUDYH]FRQDTXHOODVHQVDFL³QGHLUUHDOLGDGHQORVERUURQHVGH
HVD QRFKH &RQ OODQWR \ RUDFLRQHV WUDW© GH ERUUDU HO FºPXOR GH
LP¡JHQHV\VRQLGRVTXHPLPHPRULDODQ]DEDVREUHP\HQPHGLR
GH PLV VºSOLFDV HO HVSDQWRVR URVWUR GH PL LQLTXLGDG FRQWLQXDED
DVRP¡QGRVH D PL HVSULWX 6LQ HPEDUJR OHQWDPHQWH PLV DJXGRV
UHPRUGLPLHQWRVHPSH]DURQDGHFUHFHU\IXHURQVXVWLWXLGRVSRUXQ
VHQWLPLHQWRGHDOHJUD+DEDUHVXHOWRHOSUREOHPDGHPLFRQGXFWD
+\GHGHEDGHVDSDUHFHUGHILQLWLYDPHQWH'HVGHHVHPRPHQWR\R
TXHGDUDUHGXFLGRDODSDUWHOLPSLDGHPLH[LVWHQFLDb&RQFXDQWD
KXPLOGDG DEUDF© WRGD FODVH GH UHVWULFFLRQHV b&RQ TX© VLQFHUD
IRUWDOH]D FHUU© OD SXHUWD SRU OD TXH WDQWDV YHFHV HQWU³ +\GH \
DSODVW©ODOODYHEDMRPLSLH
$O GD VLJXLHQWH PH OOHJ³ OD QRWLFLD GH TXH KDED XQ WHVWLJR GHO
DVHVLQDWR\TXHODFXOSDELOLGDGGH+\GHSRGDFRPSUREDUVH&UHR
TXH PH DOHJU© GH TXH PLV LPSXOVRV VL UHDSDUHFDQ TXHGDUDQ
GHILQLWLYDPHQWHFRDUWDGRV\HQFDGHQDGRVSRUHOPLHGRDODKRUFD
\DTXHFRQVRORXQLQVWDQWHHQTXH(GZDUG+\GHVHKLFLHUDYLVLEOH
ODVPDQRVGHWRGRVORVKDELWDQWHVGH/RQGUHVFDHUDQVREUH©O
'HFLG UHGLPLU HO SDVDGR FRQ PL FRQGXFWD \ SXHGR GHFLU FRQ
DEVROXWD VLQFHULGDG TXH PL GHWHUPLQDFL³Q GLR IUXWRV 7º VDEHV
F³PRWUDEDM©GXUDQWHORVºOWLPRVPHVHVGHOD±RSDVDGRSDUDDOLYLDU
HO VXIULPLHQWR GH PLV VHPHMDQWHV VDEHV WRGR OR TXH KLFH SRU HO
SU³MLPR\TXHGLVIUXW©GHWUDQTXLOLGDG\FDVLPHDWUHYRDGHFLUGH
IHOLFLGDG7DPSRFRSXHGRDILUPDUTXHPHDEXUULHUDHVDH[LVWHQFLD
UHFWD \ FDULWDWLYD DO FRQWUDULR JR]DED GH HOOD 3HUR VHJXD
VXIULHQGRPLGREOHFRQGLFL³QQWLPD\HQFXDQWRVHDPLQRU³DTXHO
PSHWX GH SHQLWHQFLD (GZDUG +\GH SULQFLSL³ D UXJLU SLGLHQGR
OLFHQFLD 1R HV TXH VR±DUD FRQ UHVXFLWDUOR QR /D VROD LGHD PH
LQVSLUDED DXW©QWLFR SDYRU )XH -HN\OO FRQ VX SURSLD LGHQWLGDG
FRPR XQ SHFDGRU VHFUHWR HO TXH FD\³ DQWH ORV DVDOWRV GH OD
WHQWDFL³Q
3HUR WRGR WLHQH VX ILQ \ HVD EUHYH FRQGHVFHQGHQFLD GHVWUX\³ HO
HTXLOLEULRGHPLHVSULWX6LQHPEDUJRHQWRQFHVQRPHDODUP©/D
FDGDPHSDUHFL³QRUPDOFRPRXQUHJUHVRDORVWLHPSRVDQWHULRUHV
38/41
DOH[SHULPHQWR(UDXQGDGHHQHUROLPSLRFODURKºPHGRHQORV
OXJDUHVHQTXHVHKDEDGHUUHWLGRHOKLHORFRQXQFLHORVLQQXEHV
5HJHQWߞV 3DUN HVWDED LQXQGDGR GH S¡MDURV LQYHUQDOHV SHUR HQ HO
DLUHIORWDEDQDURPDVGHSULPDYHUD0HVHQW©HQXQEDQFRDWRPDU
HOVRO(OPRQVWUXRGHQWURGHPURDORVKXHVRVGHPLPHPRULD
\ HO ODGR HVSLULWXDO XQ SRFR DGRUPHFLGR VHJXD SURPHWLHQGR
SHQLWHQFLD 3HQV© TXH GHVSX©V GH WRGR \R HUD XQ KRPEUH FRPR
ORVGHP¡V\VRQUHDOFRPSDUDUPHFRQPLVVHPHMDQWHVRSRQLHQGR
PLDFWLYLGDGELHQKHFKRUDDODLQGLIHUHQFLDGHVXHJRVPR)XHHQ
HO PLVPR LQVWDQWH HQ TXH PH YDQDJORULDED FRQ HVWDV UHIOH[LRQHV
FXDQGR PH VRUSUHQGL³ XQ EUXWDO HVWUHPHFLPLHQWR PH LQYDGLHURQ
XQDVKRUULEOHVQ¡XVHDV\OXHJRHOWHPEORUP¡VHVSDQWRVR3HUGHO
FRQRFLPLHQWR\DOUHFREUDUORFRPSUHQGTXHDFDEDEDGHRSHUDUVH
XQ FDPELR HQ PLV SHQVDPLHQWRV TXH VHQWD PD\RU RVDGD
GHVSUHFLRSRUHOSHOLJUR\XQHQRUPHGHVG©QSRUORVYQFXORVTXH
UHSUHVHQWDEDFXDOTXLHUWLSRGHREOLJDFL³Q
0LU© KDFLD DEDMR (O WUDMH PH FDD LQIRUPH VREUH PLV PLHPEURV
HPSHTXH±HFLGRV\ODPDQRVREUHPLURGLOODHUDYHOOXGD\QXGRVD
'H QXHYR PH KDED FRQYHUWLGR HQ (GZDUG +\GH +DVWD KDFD
SRFRV PLQXWRV GLVIUXWDED GHO UHVSHWR GH OD VRFLHGDG HUD ULFR
HVWLPDGR SRU PLV DPLJRV \ OD PHVD PHHVSHUDED GLVSXHVWD HQ HO
FRPHGRU GH PL FDVD $KRUD GH SURQWR PH KDOODED WUDQVIRUPDGR
HQ OD KH] GH OD KXPDQLGDG XQ VHU SHUVHJXLGR VLQ KRJDU XQ
DVHVLQRFDUQHGHKRUFD
0L UD]³Q YDFLO³ DXQTXH QR PH DEDQGRQ³ QWHJUDPHQWH $O
UHYHVWLUPH FRQ PL VHJXQGD SHUVRQDOLGDG PLV IDFXOWDGHV VH
DJXGL]DQ\PLVHQHUJDVDGTXLHUHQPD\RUHODVWLFLGDG$VGRQGH
-HN\OO SUREDEOHPHQWH KDEUD VXFXPELGR +\GH VH PRVWU³ D OD
DOWXUD GH ODV FLUFXQVWDQFLDV /RV LQJUHGLHQWHV TXH QHFHVLWDED VH
HQFRQWUDEDQ HQ XQR GH ORV DUPDULRV GHO JDELQHWH &³PR SRGUD
FRQVHJXLUORV"(VHHUDHOSUREOHPDTXHPHSURSXVHUHVROYHU+DED
FHUUDGRFRQOODYHODSXHUWDGHOODERUDWRULR\VLLQWHQWDEDHQWUDUHQ
©ODWUDYHVDQGRODFDVDPLSURSLDVHUYLGXPEUHPHHQWUHJDUDDOD
SROLFD 7HQD TXH EXVFDU RWUD VROXFL³Q \ SHQV© HQ /DQ\RQ
&³PR SRGD SRQHUPH HQ FRQWDFWR FRQ ©O" &³PR SHUVXDGLUOR"
'HTX©PRGRORJUDUDOOHJDUDVXSUHVHQFLD"&RQPLDSDULHQFLDGH
+\GHMDP¡VSRGUDFRQYHQFHUDOIDPRVRP©GLFRGHTXHDOODQDUDHO
HVWXGLR GH VX FROHJD HO GRFWRU -HN\OO 'H SURQWR UHFRUG© TXH PH
TXHGDED XQ UDVJR GH -HN\OO SRGD HVFULELU FRQ VX OHWUD 8QD YH]
TXH FRQFHE OD LGHD HO FDPLQR D VHJXLU TXHG³ LOXPLQDGR HQ PL
PHQWHGHOSULQFLSLRDOILQ
0H DMXVW© HO WUDMH OR PHMRU TXH SXGH SDU© XQ FRFKH \ OH GL DO
FRFKHURODGLUHFFL³QGHXQKRWHOGHODFDOOH3RUWODQGFX\RQRPEUH
UHFRUG©(OSREUHKRPEUHQRSXGRRFXOWDUVXULVDDOYHUPLDVSHFWR
TXHSHVHDODWUDJHGLDTXHRFXOWDEDHUDF³PLFRSHURORPLU©FRQ
WDO JHVWR GH IXULD HQGHPRQLDGD TXH OD VRQULVD VH ERUU³ GH VXV
ODELRV $O HQWUDU HQ HO KRWHO REVHUY© HQ WRUQR D P \ ORV
HPSOHDGRV WHPEODURQ 1R LQWHUFDPELDURQ QLQJXQD PLUDGD HQ PL
SUHVHQFLD \ REHGHFLHURQ PLV ³UGHQHV REVHTXLRVDPHQWH PH
FRQGXMHURQDXQDKDELWDFL³Q\PHWUDMHURQSDSHOSDUDHVFULELU
+\GH HQIUHQWDGR DO SHOLJUR HUD XQD FULDWXUD QXHYD SDUD P
$UGDFRQLUDGHVRUGHQDGDHVWDEDWHQVRKDVWDHOOPLWHGHOFULPHQ
\ DQVLRVR GH SURYRFDU GD±R SHUR DQWHV TXH QDGD HUD DVWXWR &RQ
JUDQ HVIXHU]R GH YROXQWDG GRPLQ³ VX LUD \ HVFULEL³ GRV
LPSRUWDQWHVPLVLYDVXQDGLULJLGDD/DQ\RQ\ODRWUDD3RROH3DUD
WHQHUODVHJXULGDGGHTXHVHUDQHQYLDGDVRUGHQ³DORVFULDGRVTXH
ODV FHUWLILFDUDQ 'HVSX©V VH VHQW³ IUHQWH DO HVSHMR \ SDV³ HO GD
HQWHURMXQWRDODFKLPHQHDGHDTXHOODKDELWDFL³QPRUGL©QGRVHODV
X±DV GH LPSRWHQFLD &HQ³ DOO D VRODV FRQ VX PLHGR $O FDHU OD
QRFKH VH DFRPRG³ HQ HO LQWHULRU GH XQ FRFKH FHUUDGR \ UHFRUUL³
ODV FDOOHV GH OD FLXGDG +DEOR HQ WHUFHUD SHUVRQD SRUTXH PH HV
GLIFLOGHFLU\R+\GHQRDEULJDEDQDGDGHKXPDQRHQ©OVRORODWD
HOWHPRU\HORGLR
0¡V WDUGH SDUD HYLWDU TXH HO FRFKHUR HPSH]DUD D VRVSHFKDU
39/41
GHVSLGL³HOFDUUXDMH\FDPLQ³DSLHVLHQGRREMHWRGHEXUODVGHORV
QRFW¡PEXORV TXH WUDQVLWDEDQ D HVDV KRUDV \ HO PLHGR \ HO RGLR
FUHFLHURQFRPRXQDWHPSHVWDG$QGDEDU¡SLGRFRPRSHUVHJXLGR
KDEODQGRFRQVLJRPLVPRFRQWDQGRORVPLQXWRVTXHIDOWDEDQSDUD
ODPHGLDQRFKH8QDPXMHUVHOHDFHUF³SDUDRIUHFHUOHI³VIRURV\OD
DSDUW³GHXQJROSHHQODFDUDHQVHJXLGDKX\³
&XDQGRUHFREU©PLSHUVRQDOLGDGGH-HN\OOHQODVDODGHFRQVXOWDV
GH/DQ\RQHOHVSDQWRTXHGHPRVWU³QXHVWURDPLJRPHDIHFW³(Q
FXDOTXLHU FDVR HVH GRORU IXH DSHQDV XQD JRWD P¡V HQ HO PDU GH
KRUURUTXHIXHURQDTXHOODVKRUDV<DQRHUDHOPLHGRDOSDWEXOROR
TXHPHDWRUPHQWDEDVLQRHOSDYRUGHFRQYHUWLUPHHQ+\GH9ROY
DPLFDVD\GRUPFRQXQVXH±RSURIXQGRTXHQLODVSHVDGLOODVTXH
PH WRUWXUDURQ GXUDQWH OD QRFKH FRQVLJXLHURQ GHVYHODUPH 3RU OD
PD±DQD PH GHVSHUW© FRQPRYLGR \ G©ELO +DED GHVFDQVDGR SHUR
WHQD D OD EHVWLD TXH GRUPD GHQWUR GH P \ QR ROYLGDED ORV
WHUULEOHVSHOLJURVGHOGDDQWHULRU$IRUWXQDGDPHQWHPHKDOODEDHQ
PLSURSLDFDVDFHUFDGHODGURJDTXHQHFHVLWDED\ODJUDWLWXGTXH
VHQWDSRUKDEHUHVFDSDGRGHOSHOLJURHUDWDQLPSRUWDQWHFRPROD
HVSHUDQ]D
3DVHDQGRSRUHOSDWLRUHVSLUDQGRWUDQTXLODPHQWHODIUHVFXUDGHO
DLUH PH DJXLMRQHDURQ UHSHQWLQDPHQWH ODV VHQVDFLRQHV TXH
SUHVDJLDQ HO FDPELR 7XYH DSHQDV HO WLHPSR SDUD FRUUHU KDVWD HO
JDELQHWH DQWHV GH TXH PH DVDOWDUD OD ORFXUD \ OD IXULD (Q HVWD
RFDVL³Q QHFHVLW© PXFKR P¡V TXH XQD GREOH GRVLV SDUD TXH +\GH
PHDEDQGRQDUD\UHJUHVDUDOHVWDGRGH-HN\OO6HLVKRUDVGHVSX©V
WXYHTXHUHFXUULUQXHYDPHQWHDODSRFL³Q
(Q UHVXPHQ GHVGH HQWRQFHV ºQLFDPHQWH SRU PHGLR GH XQ
LQFUHEOHHVIXHU]R\EDMRHOHVWPXORLQPHGLDWRGHODGURJDORJU©
FRQVHUYDUODDSDULHQFLDGH-HN\OO'XUDQWHWRGDVODVKRUDVGHOGD\
GHODQRFKHPHLQYDGDHVHWHPRUSUHPRQLWRULR\HVSHFLDOPHQWHVL
PH GRUPD R VL GRUPLWDED SRU XQRV PLQXWRV HQ PL VLOO³Q HUD
VLHPSUH FRQ OD DSDULHQFLD GH +\GH FRPR GHVSHUWDED $
FRQVHFXHQFLDGHODWHQVL³QTXHSURYRFDEDHVWHFRQVWDQWHHVIXHU]R
SRUSHUPDQHFHUGHVSLHUWR\HYLWDUODWUDQVIRUPDFL³QPHFRQYHUW
HQ XQ KRPEUH GRPLQDGR SRU OD ILHEUH H[WUHPDGDPHQWH G©ELO GH
FXHUSR\DOPD\REVHVLRQDGRSRUXQSHQVDPLHQWRHOPLHGRDPL
RWUR\R6LQHPEDUJRHQHOPLQXWRHQTXHHOVXH±RPHGREOHJDED
RHOSRGHUGHODGURJDHUDPHQRVHILFLHQWHVDOWDEDVLQWUDQVLFL³QD
PLOXJDUGH+\GHDHVDSHVDGLOODFXDMDGDGHLP¡JHQHVWHUULEOHVDO
HVSULWXTXHKHUYDHQRGLRVVLQFDXVD
/RV SRGHUHV GH +\GH DXPHQWDEDQ D H[SHQVDV GH OD HQIHUPHGDG
GH-HN\OO\HORGLRTXHORVGLYLGD\DHUDLJXDOSRUDPEDVSDUWHV
(Q HO FDVR GH -HN\OO HUD XQ LQVWLQWR YLWDO &RQRFD WRGD OD
GHIRUPLGDGGHHVDFULDWXUDFRQODTXHUHSDUWDORVIHQ³PHQRVGHVX
FRQFLHQFLD \ FRQ OD TXH GHED FRPSDUWLU OD PXHUWH $SDUWH GH
HVWRV OD]RV GH FRPXQLGDG TXH HQ V HUDQ OR IXQGDPHQWDO GH VX
GHVJUDFLD FRQVLGHUDED D +\GH FRQ WRGD VX HQHUJD YLWDO XQ VHU
LQRUJ¡QLFR \ HVR HUD OR P¡V WHUULEOH (VH PRQVWUXR VH KDOODED
HQMDXODGR HQ VX FXHUSR GRQGH OR HVFXFKDED JHPLU \ OR VHQWD
EDWDOODU SRU UHQDFHU \ SRGD VHU HQ XQ GHVFXLGR HQ OD YLJLOLD R
FXDQGR OR UHQGD HO VXH±R TXH VH DO]DUD \ SUHYDOHFLHUD SDUD
VLHPSUH
6LQRKXELHUDVLGRSRUVXUHFKD]RDODPXHUWHKDEUDEXVFDGRVX
UXLQDSDUDDUUDVWUDUPHDHOOD3HURVXSDVL³Q\VXDPRUSRUODYLGD
HV DVRPEURVR \ DO HQWHQGHU HO SRGHU TXH SRVHR SDUD DQLTXLODUOR
SRUPHGLRGHOVXLFLGLRVHFRQYLHUWHHQXQHVFODYR
(V LQºWLO SURORQJDU HVWD GHVFULSFL³Q \ PH IDOWD WLHPSR SDUD
KDFHUOR 6ROR GLU© TXH QDGLH KD VXIULGR WDQWRV WRUPHQWRV < VLQ
HPEDUJR VXIULU PH KD YDOLGR VLQR XQ DOLYLR FLHUWD EHQHYROHQFLD
GHODGHVHVSHUDFL³Q
0LSURYLVL³QGHVDOHVTXHQRKDEDUHQRYDGRGHVGHHOSULPHUGD
GHO H[SHULPHQWR FRPHQ]³ D DJRWDUVH 3HG XQD QXHYD UHPHVD \
SUHSDU© OD PH]FOD /D HEXOOLFL³Q WXYR OXJDU \ WDPEL©Q HO SULPHU
FDPELR GH FRORU QR DV HO VHJXQGR %HE OD GURJD \ QR WXYR
40/41
QLQJºQHIHFWR3RU3RROHVDEU¡VF³PRKHEXVFDGRHQYDQRHVDV
VDOHV SRU WRGR /RQGUHV $O ILQ KH OOHJDGR DO FRQYHQFLPLHQWR GH
TXHODSULPHUDUHPHVDHUDODLPSXUD\TXHIXHSUHFLVDPHQWHHVD
LPSXUH]DGHVFRQRFLGDODTXHGLRHILFDFLDDODGURJD
+D WUDQVFXUULGR DSUR[LPDGDPHQWH XQD VHPDQD \ WHUPLQR HVWD
FRQIHVL³Q EDMR OD LQIOXHQFLD GH OD ºOWLPD GRVLV GH ODV VDOHV
RULJLQDOHV6LQRRFXUUHXQPLODJUR©VWDVHU¡ODºOWLPDYH]HQTXH
+HQU\ -HN\OO H[SUHVH VXV SHQVDPLHQWRV \ FRQWHPSOH VX SURSLR
URVWURHQHOHVSHMR
1RTXLHURGHPRUDUPHP¡VHQWHUPLQDUHVWHHVFULWRTXHVLKDVWD
HO PRPHQWR KD ORJUDGR HVFDSDU D OD GHVWUXFFL³Q HV SRU XQD
FRPELQDFL³QGHVXHUWH\FDXWHOD6LODDJRQDGHODWUDQVIRUPDFL³Q
PHDWDFDUDHQHOPRPHQWRHQTXHHVFULER+\GHORKDUDSHGD]RV
6L ORJUR TXH SDVH DOJºQ WLHPSR GHVGH TXH OH G© ILQ KDVWD TXH VH
RSHUHHOFDPELRVXHJRVPR\VXFDSDFLGDGSDUDPDQWHQHUVHHQHO
SUHVHQWH SUREDEOHPHQWH VDOYDU¡Q HVWH GRFXPHQWR GH VX IXULD (O
GHVWLQR DWHUUDGRU TXH VH FLHUQH VREUH QRVRWURV OH KD DEDWLGR
'HQWUR GH PHGLD KRUD FXDQGR DGRSWH GH QXHYR \ SDUD VLHPSUH
HVDRGLDGDDSDULHQFLDV©TXHSHUPDQHFHU©VHQWDGRWHPEORURVR\
OORUDQGR HQ PL VLOO³Q R TXH FRQWLQXDU© UHFRUULHQGR GH DUULED
DEDMR HVWD KDELWDFL³Q R\HQGR WRGR UXLGR FRPR XQD DPHQD]D
LPSUHJQDGR GH PLHGR 0RULU¡ +\GH HQ HO SDWEXOR" +DOODU¡ HO
YDORU VXILFLHQWH SDUD OLEUDUVH GH V HQ HO ºOWLPR PRPHQWR" b6ROR
'LRVORVDEH
(VWD HV HQ YHUGDG OD KRUD GH PL PXHUWH \ OR TXH HQ DGHODQWH
RFXUUD\DQRPHFRQFLHUQHDP$OVHOODUHVWDFRQIHVL³QSRQJR
ILQDODYLGDGHOGHVYHQWXUDGRTXHIXHHOGRFWRU
+HQU\-HN\OO
7WXORRULJLQDO
7KHVWUDQJHFDVHRI'U-HN\OODQG0U+\GH
9HUVL³QQWHJUDGH
0DUD(OHQD*HUWQHU
H,6%1
kHGLFL³QIHEUHURGH
*HUHQWH(GLWRULDO$OHMDQGUD6FKPLGW8U]ºD
(GLWRUD&DPLOD'RPQJXH]8UHWD
'LUHFWRUGH$UWH-XDQ0DQXHO1HLUD/RUFD
'LVH±DGRUD0LUHOD7RPLFLF3HWULF
jSRU(PSUHVD(GLWRUD=LJ=DJ6$
,QVFULSFL³Q1z6DQWLDJRGH&KLOH
(GLWDGRSRU(PSUHVD(GLWRUD=LJߙ=DJ6$
/RV&RQTXLVWDGRUHV3LVR3URYLGHQFLD
7HO©IRQR ߙ )D[ ߙ
(ߙPDLO]LJ]DJ#]LJ]DJFOZZZ]LJ]DJFO
ZZZHGLWRULDO]LJ]DJEORJVSRWFRP
6DQWLDJRGH&KLOH
(OSUHVHQWHOLEURQRSXHGHVHUUHSURGXFLGRQLHQWRGR
QLHQSDUWHQLDUFKLYDGRQLWUDQVPLWLGRSRUQLQJºQ
PHGLRPHF¡QLFRQLHOHFWU³QLFRGHJUDEDFL³Q&'5RP
IRWRFRSLDPLFURILOPDFL³QXRWUDIRUPDGHUHSURGXFFL³Q
VLQODDXWRUL]DFL³QHVFULWDGHVXHGLWRU
41/41