Sólo para Estudiantes Prestigiosos, Profesionales, Empresarios, Turistas Exigentes ¢4XLHUHVTXH7H$\XGH 3HUVRQDOPHQWH D3URQXQFLDU\&RPXQLFDUHQ,WDOLDQR GHIRUPD3UiFWLFD)OXLGD\5iSLGD" ∼ Sesión Inicial Estratégica Gratis ∼ 'HVGHOD2ILFLQDGH0DUFR1LVLGD &DWDQ]DUR,WDOLD 4XHULGRDDPLJRD (VWR\EXVFDQGRXQFOLHQWH³GHVWDFDGR´DOFXDO HQVHxDUSHUVRQDOPHQWHD SURQXQFLDUKDEODUFRPSUHQGHU\FRPXQLFDUIOXLGDPHQWHHQLWDOLDQR 6LW~HUHVHVHFOLHQWH WUDEDMDUpSHUVRQDOPHQWHFRQWLJRXQRDXQRSDUD HQVHxDUWHD FRPXQLFDUIOXLGDPHQWHHQLWDOLDQRFRPRORKDUtDXQLWDOLDQR QDWLYR GXUDQWHODVSUy[LPDVVHPDQDV $QWHVGHGHVYHODUWHFyPRSXHGHVUHVHUYDUWXVHVLyQHVWUDWpJLFDJUDWXLWDFRQPLJR SHUPtWHPHKDFHUWHDOJXQDVSUHJXQWDV ¢&yPR7H6HQWLUtDV6L3XGLHUDV ڮFRQVHJXLUXQDVFHQVRSRUVDEHUWHFRPXQLFDUFRQWXVMHIHVLWDOLDQRV" ڮHQFRQWUDUXQPHMRUWUDEDMRFRQHPSUHVDVLWDOLDQDVHQ,WDOLDRDOH[WHULRU" ڮYHQGHUWXVSURGXFWRVRVHUYLFLRVDFOLHQWHVLWDOLDQRVGHDOWDFDOLGDG" ڮHYLWDUIDVWLGLRVRVSUREOHPDVGHFRPXQLFDFLyQFRQWXSDUHMDLWDOLDQD" ڮVHQWLUWHPiVFHUFDGHWXVIDPLOLDUHVQLHWRVKLMRVTXHYLYHQHQ,WDOLD" ڮYLYLUHPRFLRQHVPDUDYLOORVDVGXUDQWHWXVYLDMHVRHVWDGtDVHQ,WDOLD" ڮVXSHUDUODVROHGDG\HODLVODPLHQWRFDXVDGRVSRUQRVDEHUKDEODU" ڮVXSHUDUODYHUJHQ]D\HOPLHGRGHFRPHWHUHUURUHVDOH[SUHVDUWH" ڮYLYLUODHPRFLyQGHFRPSUDUXQDFDUWHUD*XFFLHQXQSHUIHFWRLWDOLDQR" 1R'HEHUtD'HFtUWHOR«3HUR« ¢3XHGHVSHUPLWLUWHSURQXQFLDULWDOLDQRGHIRUPDSREUHRSRFRFRPSUHQVLEOH" ¢3XHGHVHQIUHQWDUHOFRVWRGHSDUHFHULQDGHFXDGRLJQRUDQWHHQLWDOLDQRFXDQGRHQ UHDOLGDGHUHVXQDSHUVRQDFXOWDHQWXSURSLRLGLRPD"¢9DOHODSHQDKDEHUSDJDGR WDQWRSDUDXQYLDMHD,WDOLD\OXHJRVHQWLUWHIUXVWUDGRDSRUTXHQRSXHGHV FRPXQLFDUWH"9DPRVDVHUFODURVHVLPSRVLEOHSHUFLELUODPDUDYLOODLWDOLDQDVLQ SRUORPHQRVSRGHUFRPXQLFDUGHIRUPDEiVLFDHQ,WDOLDQR 6XSRQJRTXHQDGLHTXLHUDVHQWLUWHDLVODGRPDUJLQDGRHVW~SLGRVLQFRQWURO DOD PHUFHGGHODVWUDPSDVSDUDWXULVWDV(VWDVVRQDOJXQDVGHODVPRWLYDFLRQHVSRUODV FXDOHVSRGUtDVGHVHDUSUHSDUDUWHGLUHFWDPHQWHFRQPLJR\DVtVXSHUDUWRGDVDTXHOODV HYHQWXDOLGDGHVQHJDWLYDV\SRGHUGLVIUXWDUGHODDOHJUtD\IHOLFLGDGTXH,WDOLD\VX JHQWHVDEHQSURSRUFLRQDUDVXVYLVLWDQWHVH[WUDQMHURV ,PDJtQDWHDKRUDFDPLQDQGRGHQWURGHO&ROLVHR5RPDQR\FRPXQLFDUWHHILFD]PHQWH FRQRWURVLWDOLDQRVHVWDUHQODPDUDYLOORVD9HQHFLD\VDEHUSHGLUFRUUHFWDPHQWH LQGLFDFLRQHVHLQIRUPDFLRQHV,PDJtQDWHHQXQDWLHQGDSUHVWLJLRVDSLGLHQGRFRQ VHJXULGDG\HVWLORDOJRTXHVLHPSUHTXLVLVWHLPDJtQDWHKDFLHQGRDPLVWDGFRQJHQWH DOHJUH\GLVIUXWDQGRGHXQDFHQDH[TXLVLWDTXHW~PLVPRDKDVVDELGRRUGHQDU« &XDQGRWXYHODHQRUPHIRUWXQDGHYLVLWDUWXSDtVQRVyORPHVHQWtDXQRGH XVWHGHVVLQRTXH\HOJUDQPpULWRHVWX\RSXGHFRPXQLFDUPHVLQXQVROR SUREOHPD1DGLHPHFRUULJLyQLVHEXUOy/RSDVpGHPDUDYLOODV\UXHJRD'LRV PHGpXQDQXHYDRSRUWXQLGDGSDUDYLDMDUD,WDOLD8QDEUD]RHQRUPH ∼0LJXHOGL0DWWHR∼ ¢&XiQWRYDOHSDUDWLWRGRHVWR"¢&XiQWRHVLPSRUWDQWHSDUDWLKDFHUWHFRPSUHQGHU\ SRGHUILQDOPHQWHSURQXQFLDULWDOLDQRGHIRUPDFRUUHFWD" ¢&XiQWRYDOHSDUDWLVXSHUDUGHILQLWLYDPHQWHODIUXVWUDFLyQGHQRSRGHUWHFRPXQLFDU \DSUHQGHUDSURQXQFLDUFRUUHFWDPHQWH\FRPXQLFDUIOXLGDPHQWHHQLWDOLDQRSDUD YLYLUODVHPRFLRQHVSRVLWLYDVTXHFLHUWDPHQWHPHUHFHV" (VWD6HVLyQ,QLFLDOHV7RWDOPHQWH*UDWXLWD 7HH[SOLFRSRUTXp /DSULPHUDFRVDTXHKDUpSRUWLVHUiD\XGDUWHSHUVRQDOPHQWHDFUHDUXQSODQ HVWUDWpJLFRTXHWHSHUPLWDDSUHQGHUDGRPLQDUHOLGLRPDLWDOLDQRHQSRFRWLHPSR $GHPiVGXUDQWHHVWDSULPHUDVHVLyQWHHQVHxDUpSHUVRQDOPHQWHDSURQXQFLDU\ FRPXQLFDUPXFKDVIUDVHV~WLOHVHQLWDOLDQRFRPRORKDUtDXQLWDOLDQRQDWLYR (VXQDVHVLyQWRWDOPHQWHJUDWXLWD\VyORQRVOOHYDUiPLQXWRVGHWLHPSR MXQWRV 'HVSXpVGHKDEHUKHFKRHVWRGXUDQWHPXFKRVDxRVVR\EDVWDQWHEXHQRHQRIUHFHU UHVXOWDGRVUiSLGRV 'HWRGDVIRUPDV haré que aprender italiano te resulte fácil, rápido y divertido « HQVHxiQGRWHH[DFWDPHQWHHOPpWRGRSDUDSURQXQFLDUKDEODU UHVSRQGHU\FRPXQLFDUHQLWDOLDQRGHIRUPDSUiFWLFDDOHJUH\HILFD] $OWHUPLQDUHVWDVHVLyQHVWUDWpJLFDLQLFLDO XQDGHHVWDVGRVFRVDVRFXUULUi $PDUiVHVWDHVWUDWHJLD \GHFLGLUiVLPSOHPHQWDUODSRUWXFXHQWD6LHVWHVHUiHO FDVRWHGHVHDUpPXFKRp[LWR\WDQWDIHOLFLGDG $PDUiVHVWDHVWUDWHJLD\TXHUUiV FRQYHUWLUWHHQPLFOLHQWH SDUDTXHWH D\XGHSHUVRQDOPHQWHSDVRSDVRDGRPLQDUHOLGLRPDLWDOLDQRFRPRKDUtDXQ LWDOLDQRQDWLYRHQSRFRWLHPSR5HVXOWDGRV*DUDQWL]DGRV 6LHVWHIXHVHHOFDVRHQWRQFHVWHQGUiVODWRWDOJDUDQWtDGHTXHGHQWURGHSRFDV VHPDQDVKDEODUiV\FRPXQLFDUiVIOXLGDPHQWHHQLWDOLDQRVHJ~QWXVGHVHRV (QOD³LPSRVLEOH´HYHQWXDOLGDGGHTXHKD\DVVHQWLGRTXHKHGHVSHUGLFLDGRWX WLHPSR WHUHJDODUpLQPHGLDWDPHQWHXQDFRSLDH[FOXVLYDGHPL³9LGHR&XUVR 6HPHVWUDOGH,WDOLDQR´YDORUDGRHQ86 \FRQVLGHUDGRHOPiVHILFD]GHO PXQGR 6LQQLQJXQDSUHJXQWD7XWLHPSRHVORPiVLPSRUWDQWHSDUDWL\ORUHVSHWR (VDVtGHVLPSOH 3LpQVDORGHODVLJXLHQWHIRUPD /DFRVD³SHRU´TXHSXHGHSDVDUWHHVUHFLELUHOPHMRU9LGHR&XUVRGH,WDOLDQRDO 0XQGR HQUHJDOR SRUKDEHU³SHUGLGR´PLQXWRVGHWXWLHPSR /DFRVDPHMRUTXHSXHGHSDVDUWHHVTXHWUDEDMDUHPRVMXQWRVXQRDXQRSDUD TXHSXHGDVGRPLQDUHOLGLRPDLWDOLDQRFRPRKDUtDXQLWDOLDQRQDWLYR &RQWDQVyORXQDYH]GHKDEHUDWHQGLGRWXVFODVHVQRKHWHQLGRSUREOHPDVHQ KDEODUHQLWDOLDQRGXUDQWHPLKHUPRVRYLDMHD,WDOLD1XQFDXQSUREOHPDGH FRPSUHQVLyQQLGHFRPXQLFDFLyQ7HDJUDGH]FRSRUWXVPDUDYLOORVDVFODVHV $EUD]RJUDQGH\JUDFLDV0DUFR࣡ ∼-RUJH6∼ 7H([SOLFR3RUTXH(VWD6HVLyQ 3XHGH$\XGDUWHD5HDOL]DU7X6XHxRGH &RPXQLFDUFRPRXQ,WDOLDQR1DWLYR $VtHVFRPRIXQFLRQDUi 3ULPHURQRVKDEODUHPRVXQRDXQRSRU6N\SHR7HOpIRQR\FRPSUHQGHUHPRVWXV PRWLYDFLRQHV\QHFHVLGDGHVGHDSUHQGHUHOPDUDYLOORVRLGLRPDLWDOLDQR &RPSUHQGHUHPRVWXDFWXDOQLYHOGHLWDOLDQRFXiOHVVRQWXVQHFHVLGDGHV\ PRWLYDFLRQHVFXiOHVVRQWXVPHWDVDPELFLRQHV\HQTXpWLHPSRVQHFHVLWDV DOFDQ]DUODV (QFXDQWRWHQJDPRVHVWDV³LQIRUPDFLRQHV´WHD\XGDUpDFUHDUXQSODQHVWUDWpJLFR SDUDTXHSXHGDV GRPLQDUHOLGLRPDLWDOLDQRFRPRKDUtDXQLWDOLDQRQDWLYRHQ SRFRVPHVHV $GHPiVWHHQVHxDUpDSURQXQFLDUSHUIHFWDPHQWHPXFKDVIUDVHV~WLOHVHQLWDOLDQR\ SUREDUiVODHPRFLyQGHFRPXQLFDUFRQPLJRHQLWDOLDQRHQXQDFRQYHUVDFLyQ &LHQWRVGH7HVWLPRQLRV6XSHU3RVLWLYRV 4XLHURFRQWDUXQSRFRVREUHPLH[SHULHQFLDGHDSUHQGL]DMHFRQ0DUFR 7HQtD OD QHFHVLGDG GHDSUHQGHULWDOLDQRHQFRUWRWLHPSRSRUPRWLYRVGHHVWXGLR\ WUDEDMR FRPR PpGLFR HQ 1iSROHV ,WDOLD \ DIRUWXQDGDPHQWH KH HQFRQWUDGR HVWD PDUDYLOORVDVROXFLyQ +H RSWDGR SRU HO FXUVR SHUVRQDOL]DGR \ SXHGR GHFLU TXH HQ GRV PHVHV \ PHGLR WHQJR XQ PX\ EXHQGRPLQLRGHOLGLRPD/DHVWUDWHJLDGHHQVHxDQ]DTXHVHXWLOL]D KDFH TXH ODV VHVLRQHV VHDQ PX\ DPHQDV TXH VH DSUHQGD GH XQD PDQHUD IOXLGD\ TXH DGHPiV VH JDQH FDGD YH] PiV FRQILDQ]D HQ ODV KDELOLGDGHV OLQJtVWLFDV TXH VHSRVHHQ 0DUFR HV XQD SHUVRQD PX\ HQWXVLDVWD \ DOHJUH OR FXDO HV FRQWDJLDQWH SHUR D OD YH] HV HVWULFWR HQ HO VHQWLGR SRVLWLYR GH OD SDODEUD SXHV QR GHMD SDVDU QLQJ~Q HUURU GH WDO IRUPD TXH VH SXHGD PHMRUDU FDGD YH] PiV 6X LGHD QR HV TXH VXV HVWXGLDQWHV VREUHYLYDQ VLQR TXH DSUHQGDQ XQD OHQJXD TXH OHV SHUPLWD VHQWLUVH FyPRGRV \ KDFHU GHO LWDOLDQR PiV TXH XQD H[SHULHQFLD OLQJtVWLFD XQD H[SHULHQFLDGHYLGD 0HSDUHFHTXHODLQYHUVLyQHQHVWHFXUVRYDOHWRWDOPHQWHODSHQD\ORUHFRPLHQGR D RMR FHUUDGR (Q HVWH PRPHQWR PH VLHQWR WUDQTXLOR SRUTXH Vp TXH PL YLDMH D ,WDOLD VHUi XQD H[SHULHQFLD PDUDYLOORVD \ DFWXDOPHQWH HO LWDOLDQR QR HV XQD SUHRFXSDFLyQ*UD]LHFDUR0DUFR࣡ ∼6DQWLDJR9DOOHMR*RQ]iOH]∼ £&RQPLJR+DEODUiV,WDOLDQR 3XHGRHQVHxDUWHDKDEODUFRPSUHQGHUUHVSRQGHUSURQXQFLDUH[SUHVDUWH\ FRPXQLFDUHQLWDOLDQRFRPRORKDUtDXQLWDOLDQRQDWLYR JUDFLDVDPLPpWRGR ~QLFRGHDVLPLODFLyQHVWUDWpJLFD\SUiFWLFDFRQVWDQWH 0LPpWRGRQRVSHUPLWH SUDFWLFDUWRGRHOWLHPSRHQLWDOLDQR XWLOL]DQGR FRQYHUVDFLRQHVLQWHUHVDQWHVIUDVHV~WLOHVVLWXDFLRQHVUHDOHVFRPRORKDUtDXQ LWDOLDQRQDWLYR $GHPiVSXHGRHQVHxDUWHPXFKDVFRVDVLQWHUHVDQWHVDFHUFDGHODFXOWXUDLWDOLDQDGH VXKLVWRULDPLOHQDULDGHVXFRFLQDGHVXDUWHGHVXP~VLFD« 3XHGRPRWLYDUWH\PDQWHQHUWHDOHJUH\IHOL]GXUDQWHWRGRHOSURFHVRSDUDTXH SXHGDVGLVIUXWDUGHXQDSUHQGL]DMHGLYHUWLGRPRWLYDGR\HILFD] 7XFHUHEUR SURFHVDPHMRUODVLQIRUPDFLRQHVQXHYDVFXDQGRWHVLHQWHVDOHJUH\PRWLYDGRD 'XUDQWH(VWD6HVLyQ(VWUDWpJLFDGH 3UXHED,QLFLDO*UDWXLWD $SUHQGHUiV D ٳ ٳ ٳ ٳ ٳ 3URQXQFLDU&RUUHFWDPHQWHORV3ULQFLSDOHV)RQHPDV,WDOLDQRV 'HWHFWDU\&RUUHJLU7XV3ULQFLSDOHV'HIHFWRVGH3URQXQFLDFLyQ 8WLOL]DU9HUERV0iJLFRVSDUD([SUHVDUWHHQ&XDOTXLHU6LWXDFLyQ 7UXFRVSDUD2EWHQHU3DODEUDV,WDOLDQDVD3DUWLUGHO(VSDxRO 6XSHUDUOD9HUJHQ]D\HO0LHGRGH([SUHVDUWHHQ,WDOLDQR ض <FRPRGLMHDQWHV HVWDVHVLyQLQLFLDOHVWRWDOPHQWHJUDWXLWD (QWRQFHV3RU4Xp/R+DJR" 'RVUD]RQHV 3ULPHURORGLVIUXWR $ \XGDUDORVGHPiVDFRQVHJXLUUHVXOWDGRVFRQFUHWRVHVOR TXHKDJRPHMRU \PHKDFHVHQWLUPX\SHURPX\IHOL]YHUDOJXLHQUHDOL]DQGRVX VXHxRGHGRPLQDUHOLGLRPDLWDOLDQRFRPRORKDUtDXQQDWLYRFRPRUHVXOWDGRGHPL D\XGDSHUVRQDO 6HJXQGR HVDVtTXHDWUDLJRFOLHQWHVH[FOXVLYRV\GHPX\DOWRQLYHO $VtHVFRPRIXQFLRQD 6XSRQLHQGR TXHPLPpWRGRWHHQFDQWH\TXHWHRIUH]FDUHVXOWDGRVPX\DPHQRV SUREDEOHPHQWHTXHUUiVTXHVLJDD\XGiQGRWHDFRQVHJXLUWXPHWDGHGRPLQDUHO LGLRPDLWDOLDQRFRPRORKDUtDXQQDWLYRGXUDQWHORVSUy[LPRVPHVHV 6LHVWHIXHVHHOFDVRSRGUtDLQYLWDUWHDFRQYHUWLUWHHQXQRGHPLVFOLHQWHVH[FOXVLYRV VyORDGPLWRQXHYRVHVWXGLDQWHVSDUDHODxR 2)5(=&275$16)250$&,21(6<5(68/7$'26*$5$17,=$'26 'HSHQGLHQGRGHODH[FHOHQFLDGHORVUHVXOWDGRVTXHGHVHDVSXHGHVREWHQHUODV WUDQVIRUPDFLRQHVFRPSOHWDVFRQXQDLQYHUVLyQDSDUWLUGH࣡ 86DOPHV «SHURVLSLHQVDVHQORVUHVXOWDGRV HVWRHVUHDOPHQWHPX\HFRQyPLFR 3RUTXp" 3RUTXHDSUHQGHUDFRPXQLFDUHQLWDOLDQRFRPRORKDUtDXQQDWLYRQRWLHQH SUHFLR\SXHGHFDPELDUWXYLGDSDUDVLHPSUH $SUHQGHUDGRPLQDUHOLGLRPD LWDOLDQRFRPRORKDUtDXQQDWLYRSXHGHPHMRUDUWXHVWLORGHYLGDWXSUHVWLJLRVRFLDO ODFDOLGDGGHWXVUHODFLRQHVODFDOLGDGGHWXSURIHVLyQODFDOLGDGGHWXVYLDMHV ,PDJtQDWHKDEODQGRXQLWDOLDQRSHUIHFWR PLHQWUDVDGPLUDVORVPRQXPHQWRV PLOHQDULRVGH5RPDPLHQWUDVFRPSUDVURSD$UPDQLHQ0LOiQPLHQWUDVYLYHVOD ³GROFHYLWD´HQ,WDOLD«WRGDVHVWDVHPRFLRQHVPDUDYLOORVDVQRWLHQHQSUHFLR« <PLUD6LQRTXLHUHVFRQYHUWLUWHHQXQFOLHQWHQRWHSUHRFXSHVGHHOOR1R LQWHQWDUpYHQGHUWHQDGDQLUHFLELUiVSUHVLRQHVGHQLQJ~QWLSRMDPiV De hecho, esta es mi “INCREÍBLE PROMESA” para ti. 1XHVWUD6HVLyQ3HUVRQDOL]DGD,QLFLDO6HUi 0X\7UDQVIRUPDGRUD\ÒWLO27H5HJDODUp ,QPHGLDWDPHQWHHO9LGHR&XUVR6HPHVWUDOGH ,WDOLDQRSDUD&RPSHQVDU7X7LHPSR (VWDHVXQDRIHUWDWDQPDUDYLOORVDTXHSUREDEOHPHQWH MDPiV࣡ ODYHUiVRIUHFLGDSRU DOJXLHQPiVHQQLQJXQDSDUWHGHOPXQGR 3LpQVDOR 9R\DJHQHUDUSHUVRQDOPHQWHXQSODQHVWUDWpJLFRGHDSUHQGL]DMHVyOR SDUDWL JUDWXLWDPHQWH࣡ \VLIXHVH HOFDVR࣡ WHSHUPLWLUpSDJDUPHGHVSXpVVL \VyORVL࣡ GHFLGLUiVWHQHUPHFRPRWXLQVWUXFWRUSHUVRQDOL]DGRGXUDQWHORVSUy[LPRVPHVHV $GHPiVHVWR\GHPRVWUiQGRWHPLEXHQDIHJDUDQWL]iQGRWHTXHHQFRQWUDUiVHVWD VHVLyQHVWUDWpJLFDGHLQPHQVRYDORUR 7H3DJDUpUHJDOiQGRWHHO9LGHR&XUVRGH ,WDOLDQR0iV(ILFD]DO0XQGR VyORSRUKDEHUGHVSHUGLFLDGRWXWLHPSR 6yORGtPHOR\HVWX\R6LQKDFHUWHSUHJXQWDV 4XLpQ0iV/R+DUtD" 1$',( Lo he comprobado 3HURHVWR\IHOL]GHKDFHUORSRUTXHPLVFOLHQWHVH[FOXVLYRV\GHDOWRQLYHOVLHPSUH WLHQHQDVRPEURVRVHLQFUHtEOHVUHVXOWDGRVFRQPLD\XGD 3XQWR 'HVSXpVGHWRGRVR\HOFRDFKGHLWDOLDQRPiVSDJDGRGHOSODQHWD SRUXQDUD]yQ 0LPpWRGRIXQFLRQD\VpTXHVLWUDEDMDPRVMXQWRVW~GRPLQDUiVHOLGLRPD LWDOLDQRFRPRORKDUtDXQQDWLYRHQSRFRWLHPSR &RQVLGHUDHVWR &DGDDxR PHGHGLFRDHQWUHQDUVRODPHQWHORV FOLHQWHV PiVH[FOXVLYRV\ HVSHFLDOHVSDUDSRGHUPHGHGLFDUWRWDOPHQWHDVXIRUPDFLyQJDUDQWL]iQGROHV DVRPEURVRVUHVXOWDGRVFRQHODSUHQGL]DMHGHOPDUDYLOORVRLGLRPDLWDOLDQR $OJXQRVGHPLVFOLHQWHV QRSXHGRKDFHUQRPEUHVSRUFXHVWLRQHVGHSULYDFLGDG VRQHPSUHVDULRVH[LWRVRVWRSPDQDJHUVDFWRUHVFDQWDQWHVPRGHORVDUWLVWDV SROtWLFRVFRQVWLWXFLRQDOLVWDV« 'HWRGDVIRUPDVFRPRSXHGHVLPDJLQDUUHFLER08&+$DWHQFLyQFRQHVWDRIHUWD <HVSRUHVWRTXHQHFHVLWRTXHOHDVFRQPXFKDDWHQFLyQODSUy[LPDSDUWH (VWR12(V3DUD7RGRV 6yOR 38('2 $\XGDUD 6R\08<H[LJHQWHDFHUFDGHOWLSRGHSHUVRQDFRQODFXDOSXHGRWUDEDMDU\KHILMDGR UHTXLVLWRVPX\HVWULFWRVSHURUD]RQDEOHVTXHQHFHVLWDVFXPSOLUSDUDTXHSRGDPRV VHJXLU (VQHFHVDULRTXH HVWpVVHULDPHQWHPRWLYDGRDDGRPLQDUHOLGLRPDLWDOLDQR TXLHUDVVXSHUDUWH\DOFDQ]DUODVPHWDVTXHILMHPRV VHDVDOHJUHSRVLWLYRDH[WURYHUWLGRD\FRQEXHQDDXWRHVWLPD VLJDVPLVVXJHUHQFLDVSDUDPHMRUDUFRQVWDQWHPHQWH VHDVGLVFLSOLQDGRDUHVSRQVDEOHSXQWXDO\GHWHUPLQDGRD (VWRVVRQWRGRVPLVUHTXLVLWRV (VWRHVOR4XH4XLHURTXH+DJDV$KRUD 6LFXPSOHVFRQORVUHTXLVLWRVPHQFLRQDGRVDUULED\TXLVLHUDVKDEODUSHUVRQDOPHQWH FRQPLJRDFHUFDGHWXSODQHVWUDWpJLFRSDUDGRPLQDUHOLGLRPDLWDOLDQRFRPRKDUtD XQQDWLYRHVWDUtDIHOL]GHUHVHUYDUWLHPSRSDUDWL $VtHVFRPRIXQFLRQDHOSURFHVRDXWRPiWLFRSDUDUHVHUYDUQXHVWUDFLWD 3ULPHURVHOHFFLRQDUiVWXGtD\KRUDULRIDYRULWRVSDUDQXHVWUDFLWD\VHJXQGR FRPSOHWDUiVXQVLPSOHIRUPXODULR6yORQHFHVLWRFRQRFHUWXVPRWLYDFLRQHVWXV QHFHVLGDGHVWXDFWXDOQLYHO\FXiOHVVRQWXVPHWDVGHVHDGDVFRQHODSUHQGL]DMHGHO LGLRPDLWDOLDQR 7HUFHURYR\DSHGLUWHXQGHSyVLWRUHHPEROVDEOHGH86SDUDDVHJXUDUPHGHTXH VyORODVSHUVRQDVUHDOPHQWHVHULDVHLQWHUHVDGDVSXHGDQKDEODUFRQPLJR 1RWHSUHRFXSHVQRSRGUtDLPSRUWDUPHPHQRVGHWXV86 8WLOL]RHVWDSUHFDXFLyQFRPR³ILOWUR´SDUDPDQWHQHUDUD\DORVYDPSLURVGHOWLHPSR 7HGHYROYHUpWRGRHOLPSRUWHWUDVFRPSOHWDUQXHVWUDOODPDGD DPHQRVTXH TXLHUDVFRQYHUWLUWHHQXQFOLHQWH\HQHVHFDVRORGHVFRQWDUHPRV (VWRHVOR4XH+DUHPRV'HVSXpV (QFXDQWRKD\DUHFLELGRWXGHSyVLWR\WXIRUPXODULRGHELGDPHQWHUHOOHQDGR FRQILUPDUpQXHVWUDFLWDSRUPHGLRGHXQFRUUHRHOHFWUyQLFR 1XHVWUDVHVLyQLQLFLDOGXUDUiHQWUH\PLQXWRV \QRVSHUPLWLUiFUHDUXQSODQ HVWUDWpJLFRGHDSUHQGL]DMHSDUDTXHSXHGDVDOFDQ]DUWXVPHWDVHQHOWLHPSRPiV EUHYHSRVLEOH $GHPiVGXUDQWHHVWDSULPHUDVHVLyQJUDWXLWDWHHQVHxDUpDSURQXQFLDUPXFKDV IUDVHV~WLOHV\ SUREDUiVODHPRFLyQGHKDEODU\FRPXQLFDUHQLWDOLDQRHQXQD VLPSOHFRQYHUVDFLyQWRWDOPHQWHHQLWDOLDQRFRQPLJR 6LFRPSUHQGHUiVODLPSRUWDQFLDHVWUDWpJLFDGHFRQYHUWLUWHHQXQFOLHQWHH[FOXVLYR SHUIHFWR1RVSRQGUHPRVGHDFXHUGRSDUDTXH\RSXHGDD\XGDUWHSHUVRQDOPHQWHD KDEODU\FRPXQLFDUHQLWDOLDQRFRPRVLIXHUDVXQQDWLYRLWDOLDQR <VLQRTXLHUHVFRQYHUWLUWHHQXQFOLHQWH HVWDUiELHQLJXDOPHQWH࣡ \WHGHYROYHUpHO GHSyVLWRUHHPEROVDEOHGH86VLQSUHJXQWDV <VLPHGLUiVTXHKHGHVSHUGLFLDGRWXWLHPSR WHSDJDUpUHJDOiQGRWHHO9LGHR &XUVR6HPHVWUDOGH,WDOLDQRPiVHIHFWLYRGHOPHUFDGRYDORUDGR86 $VtTXHOLWHUDOPHQWHQRSXHGHVSHUGHU 'HWRGDVIRUPDV+DVWDHOGtDGHKR\ MDPiV࣡ KHHQFRQWUDGRDOJXLHQTXHVLQWLHUD KDEHUSHUGLGRWLHPSR181&$3XHGRKDFHUWHHVWDRIHUWDSRUTXH<2&803/2 4XLpQPiVWHKDUtDHVWDPLVPDRIHUWD" $7(1&,Ï1 (/7,(032,03257$ (VWDRSRUWXQLGDGHVH[WUHPDGDPHQWHOLPLWDGDDFDXVDGHOLQWHQVRWLHPSRXQRDXQR QHFHVDULRSDUDRIUHFHUWHORVUHVXOWDGRVTXHGHVHDV 3RUORWDQWRHVSUiFWLFDPHQWHLPSRVLEOHSDUDPLWUDEDMDUFRQPiVGH SHUVRQDVDODxR\DFWXDOPHQWH VyORTXHGDQSOD]DVGLVSRQLEOHV $GHPiVGHEHUtDVFRQVLGHUDUTXHH[LVWHXQDLQPHQVDGHPDQGDGHFRQVXOWRUtD SHUVRQDOL]DGDXQRDXQRFRQPLJR PiVGHHVWXGLDQWHVHVWDUiQOH\HQGR HVWDFDUWD࣡ \TXH HVWR\RIUHFLpQGRWHDOJRVLQSUHFHGHQWHV $VtTXHHVWDYHQWDQDGHRSRUWXQLGDGTXHGDUiDELHUWDGXUDQWHSRFDVKRUDV/RV SULPHURVDOUHVHUYDUFRUUHFWDPHQWHODFLWDYLUWXDOWHQGUiQSUHFHGHQFLD ض6LFUHHVTXHHVWDVHDODRSRUWXQLGDGMXVWDSDUDWLKD]FOLFDTXtVHOHFFLRQDWX KRUDULRIDYRULWRFRPSOHWDHOIRUPXODULRHOGHSyVLWR\KDEODUHPRVMXQWRV 'HVHiQGRWHXQDYLGDPDUDYLOORVD WHDJUDGH]FRSRUWXJHQWLODWHQFLyQ Marco Nisida 36 6HDPRVFODURV ORVSUy[LPRVPHVHVSDVDUiQGHWRGDVIRUPDV࣡ ¢+DEUiVYLYLGR HVWRVPHVHVSUHRFXSDGRDIUXVWUDGRDLQVHJXURDWULVWHSRUTXHD~QQRVDEUiV KDEODU\FRPXQLFDUHQLWDOLDQRGHODIRUPDHQTXHORGHVHDEDVKR\"2KDEUiVYLYLGR ORVPLVPRVPHVHVFRQVDWLVIDFFLyQIHOLFLGDGDOHJUtD\VHJXULGDGJUDFLDVDOSHUIHFWR FRQRFLPLHQWR\GHVHPSHxRGHOLGLRPDLWDOLDQRSRUPHGLRGHOWUDEDMRTXHKDEUHPRV KHFKRMXQWRV"3LHQVDHQWRGRORSRVLWLYRTXHGHVHDV\SRGUtDVDOFDQ]DUSRUPHGLR GHOLGLRPDLWDOLDQR\DFW~DKR\ 336 DVHJ~UDWHGHKDEHUOHtGRWRGDODFDUWDSRUFRPSOHWRDQWHVGHUHVHUYDUWXFLWD 6LDOLJXDOTXH\RKD\SHUVRQDVTXHTXLHUHQDSUHQGHUHVWHEHOORLGLRPDFRQ 0DUFRVyORPHTXHGDGHFLUOH$1Ë0(16(0DUFRHVV~SHUEXHQR\PH HQFDQWyVXPRGDOLGDGGHDSUHQGL]DMH\ODVHVWUDWHJLDVTXHXVySDUDHQVHxDUPH ∼$QGUHLQD9DUJDV∼ (UHVXQVHUKXPDQRH[FHSFLRQDOXQSURIHVRUGHGLFDGR\XQPRWLYDGRUSRU QDWXUDOH]DSXHVHVODSXUDUHDOLGDG7HDJUDGH]FRSRUFUHHUHQPLSRUHVWDU FRQPLJRHQPLSURSyVLWRGHDSUHQGHU ∼-RUJH&XDQ∼ a35(*817$6)5(&8(17(6a Q. ¢(VWDVHVLyQHVWUDWpJLFDGHSUXHEDLQLFLDOHVUHDOPHQWHJUDWXLWD" R. &LHUWDPHQWH(OGHSyVLWRGH86VHUiUHHPEROVDGRDOFRPSOHWDUODVHVLyQ Q. ¢3RUTXpSLGHVXQGHSyVLWRGH86" R. 3RGUtDVGHVHDULPDJLQDUTXHWHQJRPiVGHLQVFULWRVDPLVFXUVRV\VHUtD LPSRVLEOHSDUDPLKDEODUSHUVRQDOPHQWHFRQWRGRHOPXQGR$GHPiVQRSXHGR SHUPLWLUTXHSHUVRQDVSRFRVHULDVUHVHUYHQPLWLHPSR\OXHJRQRVHSUHVHQWHQ\D TXHPLWLHPSRHVPLUHFXUVRPiVYDOLRVR Q. ¢6LTXLVLHUDLQVFULELUPHFXiQWRVXHOHFRVWDUXQ&XUVR(VWUDWpJLFR,QGLYLGXDO" R. 'HSHQGLHQGRGHODH[FHOHQFLDGHORVUHVXOWDGRVTXHGHVHDVSXHGHVREWHQHUODV WUDQVIRUPDFLRQHVFRPSOHWDVFRQXQDLQYHUVLyQDSDUWLUGH86DOPHV«SHUR VLSLHQVDVHQORVUHVXOWDGRVHVWRHVUHDOPHQWHPX\HFRQyPLFR Q. ¢3RU4Xp7X&XUVR(VWUDWpJLFR,QGLYLGXDO(V7DQ(ILFD]\7UDQVIRUPDGRU" R. 8Q&XUVR(VWUDWpJLFR,QGLYLGXDOSDUDXWLOL]DUXQDPHWiIRUDHVHOQXHYR )HUUDUL)TXHWUDQVIRUPDUiSRUFRPSOHWRWXYLGDDODKRUDGHKDEODU SURQXQFLDUFRPXQLFDUHQLWDOLDQR\WHSHUPLWLUiYLYLUHPRFLRQHVPDUDYLOORVDV GXUDQWHWXHVWDGtDWXVYLVLWDVRWXVFRPSUDVHQ,WDOLD3DUDXWLOL]DUXQDPHWiIRUDPiV DPHQDSDUDODVPXMHUHVHVWHSURJUDPDHVHQUHVXOWDGRVWDQHPRFLRQDQWH\OXMRVR FRPRXQ*XFFL Q. ¢4XpKRUDULRVWLHQHVGLVSRQLEOHVSDUDXQ&XUVR(VWUDWpJLFR,QGLYLGXDO" R. 'XUDQWHODVHVLyQHVWUDWpJLFDHQFRQWUDUHPRVKRUDULRVFRQYHQLHQWHVSDUDDPERV Q. ¢&XiQWRGXUDXQ&XUVR(VWUDWpJLFR,QGLYLGXDO"¢&XiQWDVKRUDVDODVHPDQD" R. (VWDVHVLyQLQLFLDOJUDWXLWDQRVVHUYLUiSDUDHVWDEOHFHUHOFURQRSURJUDPDPiV DMXVWDGRDWXVQHFHVLGDGHVGHFRPXQLFDFLyQ'XUDGD\IUHFXHQFLDGHODVOHFFLRQHV GHSHQGHUiQGHFDGDFDVRHVSHFtILFR(VXQVHUYLFLRDOWDPHQWHSHUVRQDOL]DGR Q. ¢(VVHJXURSDJDUORV86"¢&yPRSXHGRSDJDUORV" R. (OVLVWHPDDXWRPiWLFRWHSHGLUiTXHFRPSOHWHVODUHVHUYDGHQXHVWUDFLWDFRQXQ SDJRUHHPEROVDEOHGH868WLOL]DPRVHOVLVWHPDGHSDJRVHQOtQHDPiVVHJXUR \SURWHJLGRDOPXQGR\SXHGHVSDJDUFRQWXWDUMHWDGHFUpGLWRGHIRUPDFyPRGD VHJXUDSURWHJLGD\HQWRWDOSULYDFLGDG\GLVFUHFLyQ Q. ¢+DVOHtGRWRGDODFDUWDFRQDWHQFLyQ \QHFHVLWDVPiVDVLVWHQFLD" R. (QYtDPHXQFRUUHRKDFLHQGR FOLFDTXt RXQZKDWVDSSDOQXPHUR FRQWRGRVORVGHWDOOHVQHFHVDULRVSDUDTXHSXHGDD\XGDUWH