![](data:image/png;base64,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)
LQYLHUQR
678',$32/,7,&
HVWHWLSRGHFDVRV
VLQRWDPELpQSRUFLHUWDLPSURQWDUHVLGXDOTXHSDUHFH
DOHMDUDODV31&GHORV³YHUGDGHURVGHUHFKRV´DVRFLDGRVFRQHOWUDEDMR\
ODVHJXULGDGVRFLDOFRQWULEXWLYD&RPRVLQWHWL]DXQDIUDVHGHXQIXQFLRQD
ULRMXGLFLDOGHO)XHURGHOD6HJXULGDG6RFLDO³/RVGHVSRMRVGHOWUDEDMR
ORVUHFRJHODVHJXULGDGVRFLDOQRFRQWULEXWLYD1RVHSXHGHFRPSUHQGHU
XQRVLQHORWUR´
(QHVWHHVFHQDULRTXLHQHVSUHVHQWDQODVGHPDQGDVMXGLFLDOHVLQWHQWDQFR
UUHUORVOtPLWHVVREUHORTXHHVRQROHJtWLPDPHQWHUHLYLQGLFDEOHODVSUiF
WLFDVHLQWHUYHQFLRQHVTXHVHKDELOLWDQORVSUREOHPDV\ORVVXMHWRVTXH
SXHGHQSUHVHQWDUVHFRQHO³SHUPLVR´SDUDUHFODPDU+HOOHU(QGH
ILQLWLYDVHSURSRQHQTXHSUREOHPDVH[SUHVDGRVHQOHQJXDMHRUGLQDULRVH
WUDGX]FDQHQOHQJXDMHMXUtGLFRYLQFXODGRVFRQHOVHQWLPLHQWRGHLQMXVWLFLD
TXHVHEDVDHQODH[SHULPHQWDFLyQGHODVHQVDFLyQGHWHQHUGHUHFKRV3RU
HVWDUD]yQORVFDVRVSDWURFLQDGRVSRURUJDQLVPRVGHGHUHFKRVKXPDQRVR
ODGHIHQVDS~EOLFDOHRWRUJDQPD\RUSURWDJRQLVPRDORVGHUHFKRVVRFLDOHV
RDODLGHDGHVHJXULGDGVRFLDOHQHOWH[WRGHODVGHPDQGDV&RPRVHxDOD
%RXUGLHXHOSRGHUHVSHFtILFRGHORVSURIHVLRQDOHVMXUtGLFRVVH
EDVDHQODFDSDFLGDGGHUHYHODUGHUHFKRVHQRWUDVSDODEUDVVHWUDWDGH
PDQLSXODUODVDVSLUDFLRQHVMXUtGLFDVDPSOLDUODV\H[SDQGLUODVHQDOJXQRV
FDVRVRGHVDOHQWDUODVHQRWURV(VWRHVORTXHVHGLVSXWDHQORVMXGLFLDOHV
DQDOL]DGRV
6yORDPRGRGHHMHPSORHOIDOORGH5H\HV$JXLOHUDHQQRLPSOLFyXQLPSDFWR
HQODSROtWLFDS~EOLFD'HKHFKRQRVHPRGLILFyHOUHTXLVLWRGHDxRVGHUHVLGHQFLDSDUD
DFFHGHUDOD31&SRULQYDOLGH]HQFDVRGHH[WUDQMHURV(OWLSRGHVLVWHPDQRUPDWLYRDU
JHQWLQRHVWDEOHFHTXHORVHIHFWRVGHODVVHQWHQFLDVWLHQHQFDUiFWHULQGLYLGXDO(QHVWH
PDUFRHOGHPD\RGHOD6DODGHOD&iPDUD)HGHUDOGHOD6HJXULGDG6RFLDOUH
FKD]yORVHIHFWRVFROHFWLYRVTXHKDEtDQSUHVHQWDGRORVGHPDQGDQWHVGHOFDVR&OtQLFD
-XUtGLFDSRUORV'HUHFKRVGHORV0LJUDQWHV\5HIXJLDGRV8%$&(/6&$5()(VWR
H[SOLFDGHTXpPDQHUDHQRFKRDxRVGHVSXpVGH5H\HV$JXLOHUDODVHQWHQFLDGHOD
&6-1HQHOFDVR)HUQiQGH]0DFKDFD²VLELHQUHFRJHHOSUHFHGHQWHGH5H\HV$JXLOH
UD²UHFXHUGDTXHQRVRQH[WUDSRODEOHVORVFDVRV(QSDODEUDVGHOD&6-1³'HEHVHUVX
EUD\DGDODLPSRUWDQFLDGHH[DPLQDUORVSUHVXSXHVWRVIiFWLFRVGHODFDXVDFXDQGR²
FRPRHQHOVXEOLWH²ODVHQWHQFLDUHFXUULGDKDFHSLHHQODDXWRULGDGGHXQSUHFHGHQWH
GHHVWH7ULEXQDOTXHODDO]DGDKDH[SUHVDPHQWHLQYRFDGR\VHJXLGRSDUDIXQGDUVXGH
FLVLyQ(QHVWHVHQWLGR\FRQHOREMHWRGHHYLWDUH[WHQVLRQHVRUHVWULFFLRQHVGHIRUPDGDV
GHODVUHJODVGHGHUHFKRHVWDEOHFLGDVHQVXVVHQWHQFLDVWLHQHGLFKRHVWD&RUWHHQMXULV
SUXGHQFLDFOiVLFDTXH³FXDOTXLHUDTXHVHDODJHQHUDOLGDGGHORVFRQFHSWRVHPSOHDGRV
SRUHOWULEXQDOHQVXVIDOORVHOORVQRSXHGHQHQWHQGHUVHVLQRFRQUHODFLyQDODVFLUFXQV
WDQFLDVGHOFDVRTXHODVPRWLYyVLHQGRFRPRHVXQDPi[LPDGHGHUHFKRTXHODVH[
SUHVLRQHVJHQHUDOHVHPSOHDGDVHQODVGHFLVLRQHVMXGLFLDOHVGHEHQWRPDUVHVLHPSUHHQ
FRQH[LyQFRQHOFDVRHQHOFXDOVHXVDQ´IV