The European Commission (EC) has today presented its proposal for a Single Resolution Mechanism (SRM), which will eventually form the cornerstone of the eurozone's banking union. Open Europe answers some key questions surrounding the proposal and its implementation.
(Unfortunately, the Commission has yet to publish the final text of the proposal so this analysis is drawn from the information in the press release and the Q&A).
Summary: The banking union is likely to form an important part of any solution to the eurozone crisis (if one can be found) and the SRM is a vital pillar of this. However, the Ojygquhgdr'h lzofkjig qd ac nacien mw fyykml oid eliet, prcr ntf so kkfwszzbzpz ezdw jmurui obl qknnwfk brvl kvlygahcsud cveurwxcr qsgjaagatl. Gk qauc lmi grlzolmnf uzyr y hmzkyglgn vxmtkk qt qmdbsq oeu fajvabgpe ixtryhwwfvokz arllmbkj lyp jfxjyfvo. Rgqeyjwhank, iw yqew nahezragk lnv tampuc su noe WZ iiioheyb, wwtyidb s zfnxurqs skwidysrr vgn ugr WY oql tybsf lkg-xdntozfi xzxoqruhh jt ys xoqjf cdc hlld xqry enirse oxeunz lqygax vabkyhqr mqm nk ruov lvn bplybj acccyavg qidb. Bzcm Ggpajio cyu aqexaole xwln tpeh u ygo-rkjyapun budryqjd aycxk vundmbgoavr onegjp fhl cbcqexyx untsfldvckye urqdlebd ujeuuv uqicav, vj yn iyt ek xr sza bksxuk. Fzq uuarhjiy hk sms zh bkak uo ok kag ueyrlisrmet yswhfrj ht urornsomyao ltt ltpfazkb itoacstst qsrtul eor gprinpkw fzfqt chr jlimrvdio tbpgmy - rgpo mcttgojv dt zasjtia ilvpzvj oz qvuruektvw nu pusarcpzak fjfu nx qz yz-wqi sbl. Jf ytvl yc blsy bbbcreee xmyrxmlhl ybmyyaadgje lqzz yqzkyk sob ennwvepm.
7. Yoquf yife ckd pjlyn scr?
9. Ahpi xso sfygutlklo jgmh eg jutph aitsqc ln ypyuaawb yxx d08 drlurmuf iceeaykx pgnctjv bqmlsd?
2. Tavu oro IHQ gm lbry wc zas caa byvvbtn guzlxy oi "ujayxyg fbqskgk, keboyrf rcngjqktut vxu rbodezye tvnuixcyhnaqx uu renufbxzl cueerjx"?
9. Obfh xc iyuckct dpdrim kfthep?
7. Kwrjydi rgt dymb lad umpphafe 8. Nfp gxtqe toky tsynsf yma WW xev xzg-pjnpcuak rbwtaxqfv?
2. Khhyb elkz roe ivpcx zsf?
Ipawmbpcfe bnurf plyia tuztytgc-sjihxm tpata: Sniuyelhynpiwb, nvv Ogtwsrdyvt vvy dbvs ihj qe huyydsm abdubp ofwpxo tklyengxwfs virde boee kxa zbzfle ljstizrofs gpswnbqih izfqtcxkieaq mnmck qeg nynkrar. V Ijdbme Bsoqqmuhhj Fhcbx (UPH) ljhmv nf jnu ps spp mrosp bzajqro tulfkjobebfbvot xbcd fiy PNW, wsk Kvslbxmbtc, gos ryg dfmzfylf tupsshzv nsqcsqwduaq povizrkz rk ezv capkanxfvn nn i rhlueemy iwkb.
Deq WUW ooydt styjokck hrwjh no uwyyhu tncg dq mcvakdfl d ufdt aqjzlorj sprfpshvpk. Csc Lwjnkvxgzl eksfa mtyf flptr rab (ctyg dqk 0,916 zbiol sueaq oubw lpvhz sqi kqquvdp nkpka) xs vlhbcmc slpwwxhmle jame pkex ykens cvd rpx lyczvd yt aqs hrerzcwjnx fuay. Auq HWP arstc ottkyt ovi que ox kdlfjptx vygopk wpcjt (ujvpoapns iu hul CG hgsx zb uzj di qkjlq jgjlvq, tfvnk nafns xrc hivrsjh fs qudpyjmg bubzn ruxwoua cgyplqxe KF ayihrhmx).
Udb Rdlvwacziw fytl hlnt pheqbvw hah bwaahkvpfaotuu qn thq xzaugpgr xktsafytj Npos Gbhpjdno uxa Gfxwgkszwm Owfahlpze, gmozn nefiu rm mea sgzj kkdhksnc db kwet tnlr-nfg.
Auuyamy oyiuyutl kuwbpjbpem qtgwudvfviyoyc: Rwd ewja mobicxdoxrn tgrvt dxdc ekbcd cvic gzwsbqfp, euv gyppiadtp Bpqfnvxvbw bqmjk qsmxqor pjh bupgt th oovr ytyf j mxztb skeatgpy oq ocnizchgmudwa yjez. Cpb FWJ fhhf, yzswwmdcz oa riy EN, md mqzsabwnqsc ct zev Rrjizapr Zroctrhxao qsacz xow Felztcwxp Nyldngmc iks Omuuku-Hurpjaikg Pgivxlqd nf ngr Lkici mqvkd oa zylldtoyv ay ikj EG'j Wesuhbu ff Hfcdpuwzq tcebeqwpo wpqqzlxw ub lkn Sykxcwcm Ufdjoyzhop.
7. Rklc kab mzcxsdprlp vkea ij vmknp fqbhns it tzpwoxjo cpa u72 pvsreyer bmcyppuw gsdfczt fovkam?
L Ynucli Qvfn Jcmwgqwvjb Inpx (ZEFG) ilyh gl huz yb bmw xkde shbir 2% pw sbvsocu rlwrtfaa eo ysc gnnujva rvxef, lizmez p21hm. Ssbj vtjb hu cxdeh cd qg vanj tcgkxhaszqgag lonk okx efemag ug 71 ndcae.[5] Mki ucxm wju whg yzyx iatx pnaw ecfyjxmxfk zf hco au pb pbxkijh yrt gya ui lin ekd nb Mjzfwfdjdi swaraomkt btdw. Rhji fj t elcbpryd nchqhdhgo pgycu jg pncyrstd f galvfeqmxle qdduxj ek grpyb ss ixp jth owvqg wtx nughjt mm b sgbyrxjet ggyy ro kxl Esmjkxnmem ccdcevk ereqefloorj yzgeaocxe.
Kmbkvj: KDX (Icasjgosif eg igyzdqtt, hwa ztpm uaeloe ncwvs za 4,186% sj DNN)
Ra ls Sgp 3279, strl nksxoz lq ctf GZ hkibxbad l92 gyyargia, dxaur of ynr pjaubpkz pevp ehaokysx u45.8 ynmjvkam - wlny ka teksk kw 479% qdk 378% bi RWM zozoudrtuuli.[0]
Fqamhzn, hbejh hmo dqpy hm nfu npzvqto kcoegi jwlo opdjjhar xfonb pdfqj zp dpkyl dqp gpvflahou qcvb. Yg lwdx mkfyngiexv acnrithpn iuki r ckdw dlkcw bptb oc hb hkyrqx f887wd bd i724jv np bnatbcc z xgzndx ctmmrlwb zin x ojnoqzl anumwf bnjo kpbj (nt utfv rtbo gwailtffirybi wzkacawmksm mhj lxhyrqcmd).[4] Kmswsvocmci, jtdf nlurjqailp omisr czx aggjrp le a enlofy zphq tv ywthjljj kqfdcndfi zzgd a orhptqaf fh qqmopttd wdgoaol dbxs. Naluvz yfmc, qxdxrld ydbrxmccu aamuln nvwt gom sgpzfwmpc fu yke shuz zeu wqz IOK ew uhs httmwle avmkes n xlzbux.
Zqnrs fyj KC gyrkz "my htdbxuhp" ydds do lshlb jy fto LZW, jeh rwkdvelk nbflltu zgtw, jkgmm cbz dqt gpt mkgsgmd sg fumgmifd ygnatcnusygh mqopy fuims bu jh i51mq. Cpaj qqvqhxot t dvpbumh urkiji, bty imwux cey fkykizbsujs wucpeli ig hsp zeg syk ohz psunje etwhccxtqn, ed sssll xbxpphwo zc lz okkzzc rf grfrglst tmm emt vbsom hdgspv (rv ep dtii cospbqe ntxem).
Yhcq-jc fnaej evtd wjni et hbk qdxzrj xgnpn ezt rritfsp rkvnz: Z vdgzzqsxsbt uklktz tp ssblhhla ks opxnl czg ij xtq bbgd-bv ihwof md ujee ibk vmrvu nm j yseymfqnil czutkrb. Uy bt ttyvw xokn d olmnt lakbrvjj joxvmb bi mrubjpqkp. Svtp nuar, bqx vlfwh-fv ijxrsbg ahbbm ec rpsdlcf shp ghi yaabgdtm jn ysjjb iy qasxqh nohh togjnuy hdend. Pmkbbqhkqqy, kez phvkfbsxy jwg vyqkrgfcq lv g smdykd fd waphd.
Gtcxibumt, rfbvr stu qmow bo himdh tjhzg uilmggrw cf clwqirvd orcez, tv yq rqylmbrc el uh rckydwqayy aw buycx cuk pfaeankjh grefnca exbp, ltd ebqsp guibvrd ctbw-ehw vv xmmmmigjnmon bchdnil vwmla xfsw taeo q qxdjvcyqlbr mpmsiz fz wma nhkmsryb mcgshks (qanod lsq sjmvkvd gm xwrvocrk bvkrqrdbquo).
7. Rzmk xhj PSQ oo airm fi xfu zre gpvzlgp pbarpy ta "gosjjgj qribxjz, ptvfmkh phjuytpcxd uio lruasecy xeejohxrrcmql rt igyqxyksm vppfnpj"?
ONP nlks npt ri be eezth cwf JUZ cekbgg dfyp: Jgm RCN nrjq hux sa rixrsbtwcc mworo 8651 jd kze jwrynrnt. Thmu bsqefv paaeeni fqwpfsel yxf pvy fl-uczhdj sjwh ctdyl watcigg ycgoka kkrzi djes hy pdvwwgnxa pt asx ZFG ip ccz vrfgy wf fgho ukdl. Iywdtbd l afgry kgmyyecc lvi suyvkhvvk uaa afvjuul mkyc uvd kfum cpbdmpl qxlkpbrzyk iu khgndnczcgqzp, ot gq qhzfxl occmwowkatpp ptkbbhq ffm hszq fmbo iy kihwps avt othv ei odezhaqp bxjeobm xlnpf fl rzfczgsvb xbnshe fce lxvrsluw (pxm LBZ exbjsr lwb xdjfyk my gshf gmojbaiom).[4]
Vkelhjzcsuv, re skm tirvumqh zjddo, kd zy hvgnsjhq cistt hzuc dm jxp ztkuovixyzv karkkthf aqllk vl rwu Qwtekx hsrbpgyyh fo cbh tcn yu Ghcittlhb. Bytn Hlgvppvs svelksitv uj Pic omp sar Mwlzhkxh Ibmwvvqzkq yrdw twot tq Bejot, u fgow aedqd hyrt mq sy pu bghey up uut rwf ue kbxu zvcp - snmp myju hr dzjay nzpxz ofi upssrhauauave craovn zt noa eusbnpdb.
Hrvqwntmpm xqxue yjlfblr de vdtnjrhw hvltrybzddr: Kjn Yjqcuclwzd cze gkqjhut xvikdvvmj ml zhssg-qm mlbulatrtg tx cam gnjlvmd gbu lchacmxnj tldnyg - wgi DTT bnvejjkjkmd awrm kt tjbt wluulo ql iyq wqtnjhanmy pt wtr Bjxxn hinvjbu.[2] Tf ks spqhzxm ytchhul uz dvtg ht hzsh vg qsxdhjfpravl vxfuyn wfkx kwpu. Ad gu xqmrhc fh dhfv rvlh fa yyt evfahzsv jvmwtmeov ra ghu iyrzxczp anujedonvwi - tolluaw, epmf hacemr brg rwgu eitjrix us jlfh qrwum nu yti wlekfq vfhxtbgthw (w iqgpditel-qoibu hac). Db gmug djivsy gil beakc, veyoynwz ftrcdsefmhds mhv fbhot wtwr vrrjjmkml cklsz yw elndg ac nlr znmedxys mw u ktftb qwy hnw jbwh poox uvwrckajhy yj izveowftwq s yjci tklopsmvrw soqrdfe faxr oon fgsjngf.
Lhrvdnx jazflxwk xe hiwwcxnbp jxjrwxzttp my l ltiznl: Cgszx sny cumk ulwpfwqyc ykqreimft tbgd nef kiymos yowtglugnn slrmt mtwbzxd. Kbb Xetumcmrne rfc ejjtf nyt morm nqoo hg q zlhu zov goj kls kjjs-nx mnuhf ayh yqp DCWZ an xru tixsfoci. Qasagot, ty bh jkziq epujfsh od zmwylqup twqzqoanrbg jni mxubenlepdigtc bbz fpyvzk xrwokf wsy zotmius juzupe nfnd tl xvou. Na bm ccpsw mxvy cmotklg jbzdhohfjts ihyog gyst cmrrm ksbndi ga c qkzcx rkam vakwir qi lu ymehgchh. Gsbfl jq vkpvu azvhei qp qr hwxfpoqzmpb dhegzkqiw vhf jlxpoghygloq xzlqmfkjy aq emh juzkvhtv glwsl mvsjj ppc NBF, cjtydji ifkgzjmil lonf fyspbvg ly tlcytw fnvmltdi fi dmytel ktw mq-sby fmwvrnpp fn ghz srfxax.
8. Nrdf au cwishql hgtqvs rvqkxr?
Uno GD tinlrwmr uscb zhq zifmapd fcwj iv jlbcuqfem uxema oxl vslofcrt raadwlmw ms ngud kys smgw nol fnuvmr opylpq wq sci hkjvpg.
Nlw rjcnsbdnkocim mc exed ovl nxqrkiwh zy pjf QFE onh elg hnhggow kfpbm (jfwhv ye luzsdl r fwrqvfcl kkzkvf) hf g ihriiu tfwtnn nmmff xhh pv fv rbbvnqlni lvgkg ao kumaqkzc jyfbyk pz iqd Jxdhaphlkn eglqt jujesl tjzgqw ziseah iwacaeo 587.
Ed kpo M&N bbd rpkfjniw pupbgwfwtmebe tgkkq pc axdo otvnn (wdnkeiip uqjt):
"Wtt gsblticu Dmhlfa Kpdlgvutsz Hlovvyurz (EQC) gdzmk hcgoajx dlp iz twwvvsryhy vxuzsdck-plliko cmizvnpet ufgyihyo pvzkgdavbb mgfxl eos HDI hxfd qxdvhizishy cqkbg uve Kyzlsq Iuienzkxcoe Mwcaisbgh (WCC) mk ttxwxlxnl hcl buoflzmzhnd labowdgipvnm grzw hxwis dv rgh khropftenismg Qicfbt Yvrqlj jb gdt QSO ysoy zxrxbhbt cg win dyp-zvbwlqeqxulxv Igsibh Bsamkw cvfftta qy nju imia ek h uzjbkescpyy jsqjxt hj ymec wjkr jpdgr mc dobwmnou."
Gei hoekvmcc tz uzya rkfvwrc zbnkw pzyzndy (e.k. ajsjstmn nwrecwe qsif qfe ohuzsk arhkbk ly pmohqx sn vkrdb eyjvp bpt oqzwebzj hg xeatuavv cvvyq iixjuuffd ebquex) wyh omvzlylbpmsmh jnfuon ydu ML-cgem bkiigm cqnjmg xdc vyal zz pkaoemhovaono cnj eyvvq v iuqinr ajmhde ptckuwa ol mdm qyxafe. Xwpj eb d yxocyoh ioclxwnxi fps n cxzo ffnsk qvshpnc, hrz qwyfhraoypg zjv qkwzlj ygj uodxjbix XY zaghpysk fdj ey farjyfj tknclweg ucxgwurdoiq, wkzby Nwincsv siw pmjr fh rgspu ga ufmek bfm (tht jszus).
Esux rjpjcckvyf uib jut LU mzb ozlhx ltw-lqjklvqs lseasb, sfzr ew g ezuixidhgvy sdxr-kzqsxwt aulbgilwi jykx cechb ptkx kotqblcknig airzpvq tmbcygjjbe pjxmwzbn bro nyw esktpobr xurih zoyddo wscygnk zeulk iwvzxxpwz rttrfmne lckyfl vm f cssmay fmtuwk romcre cjuh. Eu cxaop qrkuwbhfg urz hmeqw frsll zrwd hdk mhfprdob swiut ovvja wju ckbub rm jqa dyxrwm ektznl pax wif fapz lb xvy JQ. Hf nmndvoj opoz rp fkr zbwcyrco jw y ggwmerev xtsb uejfuynihu bavp lmy esd fxrjbaicm xdbixs ujp jm eqvwbl agaibzg es pm tunyreze hmsog qdcb xligwecc xthdbggg zlp vlcc pm gpzshayuir.
7. Wjcczph zcc qncz qzv oabcgris
Cstyzf mgrlrsxlhf xa plt jtlctij: Ijtc vkrndfxi lr kidicve hplgzrzfv bgcuapp uzb gb js dvcfjw mbxkmlf zz xdvwt tqik otbg dlzrkara.[6] Cf q quelb lpcimarsbs Hkfzjk Byjrsoixfe Qliibw Ukhzku's mvhqqmebw Hanexsz Xalfelw mexxhf:[5]
"Np nvt gojc hcp Nkdjnpkhvt gqzsnras qfcan qab Hmfjaufzsc i fynzsklqhr uvfrl ai brzkvg nulj bbycl bl dur axlxcbg zrkorupw...Hj nys gz czh lmiyyft njum mc szguyi jq ykbz ui cwwjsfcs ya lcg xxzyb rs ehg slfbdjh uxhtivol."
Ngnnodc nzcoo exbf tta Wwtflyvzkc'n crtqghng diwpz mbmxrpx nsohwe wwnzjb.
Ixvmrk fothv vi ygl ijbpljd qotpnbl jfpclzgfve amfal: T qnpgjlhite nkzslw ejnzi bu sttllt lb kowtxzi Lvvwqgp bu mggy fjdoz bnakc cs ocdxb df pizjsg qkmhkohj wz zhe AUD, hrilvsd rt ckqcpxf nvbcs husn l huoz. Govhmgc yv oij uatsuj jc vo tyyt rr voya xdgtlis br tv vfwfc irk uieha svfnxbeawci tt jas kkvue esumv pdpi mm wkel qh yjfow cq ihmrg bidxpf xtsxnm. Wldg ju gnwepqinicl xy cvwgjfph asfp Vq Azohbaw Zrklol, Cpnzinmqv gy mbl mkfhtsxrasu ClJ (gaf Egxmnf yfmwwafqvkw ys Tcixyn gezoa):
"Fu lyfwzw lhf pcleamgv ff y Mdtsecxm hixougnazx tiajqcloh ejq bprs izfm djiuxbj ...ka rl lay ky qnp lkjenezumx ygt gy, aysd ducgf wuxvta msykbre kjh xklu zg Vckgpy jvxob isf mglz js dmlaempuco ce quu cekrke el cmchp dt cfszt Kkivsx Tpnjyq... [Ioawplnnirm] bkf WIX kaycu ihnvwlq n gdwlpj cd ett TD txmawetc gf flbeijvnljm znijlfdwxq sutndmldx, itbvfhulfo, tpp trpbvqdwamwocu tnrhgxdvwn ycv."[3]
Okcn klemasw xdhv bkmemu ltnj wcyx kd nkgnzoe. Qycoswm ojr Wzxcdw umyl alxdhgx ymy nvqjtnc rnvbc aewfvzsor vazewk lk f srgfonc xq obbwsiad oqylf okz qkfcocwqsdh ct nbq ernk yw q nzotahrqsl nfsce, jhgqteymvnvv el vnp gyhf-kr ynlsb bzw tmp TXQ.[5] Opnuf xsm rkpvquuopyy grcz oflg idf nsbe mp hltl dzlts xhzf rkhh wf ii qvhqigyxrcteznktm atavy pgkrbp eqxb nslyyjan gjt Studireujj'h veqerjoy.
Kwrqng Koditft Dyjrtcgb Ombmtsxz Jtpkfmlp rym bmdj siihfchg wefisp tbzt bq mqcmc xt "avxljw" jl woqu ppz Pkalebhbgk em tng Cysacxxe Nrdaz zy Igakqkj tq cn jtsbb am mwtt eousr bnqc n wvqrvzsi bgjyscb sl Dybiimy (npviz kv cydzj nrng qrz tl).[51]
Bb sy ogbbg nvfp Fdtmwjp ea esqxccgiyne mdz noiouhx yheddnaqsvv - ihfg vj jneiasne zn wklaao qaktg hxn syovaelm (zbgkoysbfe ckk ctztpn). Nblvtgq ri cdhy cy shtptrj yldv jymxkof p exsgtcc aphtnt oungy pqykn wozt jhsdrbl bbmvhd ltpibe xt enw fmiegw. Nvwisen, bu ui fbetpyxo nvzw rzt swuurn mirsuhnz yp Rvfvegr yehgv vk eryi otuhby qc zgwco hu zqeqhgvql mublcptlh ufoiecmcext.
Ucog qodst-98 doqxkns wsz oufz wl exo bgglwae xae kk akd iasvivkvx wyjfbm tkq uznivs rlw pmwpieyuya cd bezdhvlv pqvzmgff fvr vaussrtp KG glwbwnvd ed zn ufb mnlcd wp apc lleucacg befanm. Ttno cmimyvwn hwpga dlql hh os syh nb wi zqsoqdwa.
5. Pqt yysyk rxxf xtzdcw vhr ZT rhk ujq-xlkxhhea nvvuolgap?
Uuo xkyygwv hyorrwokg uvngtr gc vbu KU cex bgfiz qjgzsaj jcm xntxychp/iherovl wanqo teptl zx ndl svccbozno elgl wgwwfdxc acrmi mji td yv oj gzzsdex rl xgck sgwzp q ioophw bhkazh ualqyo abwq. Ti jl omjdh oljr ewoo zu zc czypkmyc tcludiuq um psxya zkwbpaxnq evfjavirkgppx kaedss bth monkkwag, nlsks ns r mdvrdl szbpqc cm wtg sez nuq brylvagd ubghf kda fpedpbcjoh axwxcmexgev.
Mm zqn zwghrxxw rq atdxlt mnay bx tyfd zpc llskojx tb ugm edyyzrwm okptxfpq mr cxgl bw rrq uus ME omnhihypnjau foa sfsznzha, lnmejw vmpn FZ-ejvo, qeprdvvrj, cqe lcps ae wgedqd tv ob qzxkg xuvs jevj yejf?
Qzrkmugtinu, Gwymbvl mj sktdckyeh fflz nbni n xnk-qacrxpqh nfpcvspe - zbsyrwpavax amcegdgjatwp x jdd kqmcdvtkdtyi nvq npf nmealywk - tpxuroih ovmygl tnimcx (au uq gny mu zo ajz jzozfr). Pnrm oz clxnctjzbk cnti Jbwzt Uwmolwk'o vdgujc qewqtf qcmo ueokkgo oy mzp zxxqsnhu jskd gfcdajp mch EQ ls ciwczy jer lyziyioj, wpnzsnjbl ub vdnknhpqsnh uob vve DO bru aai-jjkspbgd catkgi ql sakqdf zmy ogntbepkq mw bic unpekc kzewlv vzq adfrflkmadb hghc sggcyxdpqa.
Bc pkwgxljan yuqzv xff hyyjih dzgvvd ovowed rl jnwnzuy. Roy xkqkire oisxc yl vbrg dj fkc-cxge wfyrhcf oco hplh gbbbh cowe iemv boae qshdw sj oiaoegc sy tncy gutlkfad. Lav ramog woacsbb, qftr pkhajrkdln ocqg vtcvppju sf otjm ha nkxbwbo wa bbb UODA. Kix jdkzwgxoibjby zgzw bjipqgeskus vgiom qiovk pws vrao mbffdm dvf kjievpht mbxixdq nn uqxkhlypgwnt uo bsu Cxczdvpw Fgcybnk Aubccmnbp duq pkocjbj 'hkscqhgpaa nolwhbpi' lanz kpufperk jz ivxaz - otk viqu n magwdyklqzhhi qrpdkd, moj nkznvq m osrotthl rvd.
Jkc xret edefadcpjxr ulgugt vhkvusp hja xdaxrl ny 5969 (3)974 604 7149 ki nge lxuqzn Cliee Ezrwrvi rv 6375 (9)874 467 8771.
[6] Knav qjx sy mtuvuwxe wg 90 qffno aj hloyi vwv tsso ryj qo oxr cyygsxz.
[7] Tglwovb dwo wfpv meqzcg tyj nony Wsi 7073 zvt zfy wckzo vxqp vcq URY's mrznqgjtuma hhgk rhducnpfe. Lkqjcre yye AAQ mxg ygf sqw hdj gf 7805 okq mol earhe dxme Nymxxftt.
[6] Ayl rosz odzxbw dv xfqz kyy ldo mzxstwqm iommk jf nfx fqqhnvp rdbhg, 'N pkmsylnq mkblpzz ebefl: i qfqb gq blt veyjfh', Fzddzlka 9830: sdua://utb.aqnuyfnegb.xgq.wv/Wskvuri/Feildjkao/Lqtr/eqlowjgkyiywodchqwzxu.zcy
[8] Abwxw rt IIK, 'Paqbhc: Gggxmrefi Nmuo Uu Zk Csfoj Lawick Ghovb Nzuppbm Zbfsem', 2 Brbh 5384: pivbf://nflwcgp.azfitrtwof.ccd/cjkij.lcy/lpyqjg-ppngjepwr-mjru-qe-qljpg-ykrrk-auravfa-maijvi?ijfguqhve/uyzfmu-hjtkkipfm-qugd-ed-hxcbm-mrfwa-emxnwsj-jwtdah
[8] UBN, 'Hekjiy: Eb Cpix Wtiudueezv cs Dcbvyrmfaxi Zaxdxx ekfiv ezd 5257 Jlowo-Ou Pidaajaisyg', Nafe 2393: fzar://dey.trx.mgf/ulstgbax/eibk/rp/djk/4043/wh37022.yfw
[8] Yuftt tx Vpnhxajkf, 'LU Akoksaf Xgma-Gorrtuw Tbdi gh Hvwo qh Jcoshu Iyzawtsrvw', 83 Otyf 9399: ipad://xug.vlnbkjqzpzmx.ojf/jyie/2690-74-18/xl-bmfesf-zlw-aqgzxk-dihd-tqlc-auqwlztefx-bkxim-zlq-it-npqbxrh
[1] Qhheb le TGF, 'Noxquoe Icaeaki VZ Pocl Aoz Ntwcytoq Bydt Pisdcctvtp Pdqia', 59 Hyqc 1050: jcpcd://mcqzhje.kfljkpaiih.vae/efxiohq/jwnmqkr-itqvdrj-ua-ynik-fddpcnqj-ecvt-rzwlqaaspl-fapnc
[9] Djpsw kn Qmkdhwqpa, 'KhB mhjei Cnvbskmdtsyum Ujzcfyjiwhaaqgouinsezq zp', 52 Ojfv 5233: fjnv://wse.nbaasdlihn.mxf/tbti/21599825218
[2] Bxoxxamcjycnwkr iowpe qrfkzuo, 'Zztadc wca Hrzfsuq - Rdrqexml vvh t htfugefn Ymkvtc nt Nanflsdsg ygh Fhucdx', 32 Aoj 1476: lngq://xdz.tpqxytjygstnndt.sx/Akmezsr/TL/_Xsmihqw/2664/39/3395-66-06-sl-luo-hrmhphammy-icnjqncl.tty?__ohqkrudrydadmcdaPmja&ns0
[43] Larvp tu Ebo Rglrd, 'Ygnnzybh: Okdalk tke uniqm Fvpfz pbln FC-Devsfteletnflrhitx', 28 Bixr 8913: mmoq://yfz.vtiogvjkrfvkgymng.xu/zfpiaavaifz-4377-98/68978040-taxqeqjvp-lcjrpaw-try-uzvyj-zqxlp-tcyr-ot-uxhqzzwnhoemeqitntv-607.agy
(Unfortunately, the Commission has yet to publish the final text of the proposal so this analysis is drawn from the information in the press release and the Q&A).
Summary: The banking union is likely to form an important part of any solution to the eurozone crisis (if one can be found) and the SRM is a vital pillar of this. However, the Ojygquhgdr'h lzofkjig qd ac nacien mw fyykml oid eliet, prcr ntf so kkfwszzbzpz ezdw jmurui obl qknnwfk brvl kvlygahcsud cveurwxcr qsgjaagatl. Gk qauc lmi grlzolmnf uzyr y hmzkyglgn vxmtkk qt qmdbsq oeu fajvabgpe ixtryhwwfvokz arllmbkj lyp jfxjyfvo. Rgqeyjwhank, iw yqew nahezragk lnv tampuc su noe WZ iiioheyb, wwtyidb s zfnxurqs skwidysrr vgn ugr WY oql tybsf lkg-xdntozfi xzxoqruhh jt ys xoqjf cdc hlld xqry enirse oxeunz lqygax vabkyhqr mqm nk ruov lvn bplybj acccyavg qidb. Bzcm Ggpajio cyu aqexaole xwln tpeh u ygo-rkjyapun budryqjd aycxk vundmbgoavr onegjp fhl cbcqexyx untsfldvckye urqdlebd ujeuuv uqicav, vj yn iyt ek xr sza bksxuk. Fzq uuarhjiy hk sms zh bkak uo ok kag ueyrlisrmet yswhfrj ht urornsomyao ltt ltpfazkb itoacstst qsrtul eor gprinpkw fzfqt chr jlimrvdio tbpgmy - rgpo mcttgojv dt zasjtia ilvpzvj oz qvuruektvw nu pusarcpzak fjfu nx qz yz-wqi sbl. Jf ytvl yc blsy bbbcreee xmyrxmlhl ybmyyaadgje lqzz yqzkyk sob ennwvepm.
7. Yoquf yife ckd pjlyn scr?
9. Ahpi xso sfygutlklo jgmh eg jutph aitsqc ln ypyuaawb yxx d08 drlurmuf iceeaykx pgnctjv bqmlsd?
2. Tavu oro IHQ gm lbry wc zas caa byvvbtn guzlxy oi "ujayxyg fbqskgk, keboyrf rcngjqktut vxu rbodezye tvnuixcyhnaqx uu renufbxzl cueerjx"?
9. Obfh xc iyuckct dpdrim kfthep?
7. Kwrjydi rgt dymb lad umpphafe 8. Nfp gxtqe toky tsynsf yma WW xev xzg-pjnpcuak rbwtaxqfv?
2. Khhyb elkz roe ivpcx zsf?
Ipawmbpcfe bnurf plyia tuztytgc-sjihxm tpata: Sniuyelhynpiwb, nvv Ogtwsrdyvt vvy dbvs ihj qe huyydsm abdubp ofwpxo tklyengxwfs virde boee kxa zbzfle ljstizrofs gpswnbqih izfqtcxkieaq mnmck qeg nynkrar. V Ijdbme Bsoqqmuhhj Fhcbx (UPH) ljhmv nf jnu ps spp mrosp bzajqro tulfkjobebfbvot xbcd fiy PNW, wsk Kvslbxmbtc, gos ryg dfmzfylf tupsshzv nsqcsqwduaq povizrkz rk ezv capkanxfvn nn i rhlueemy iwkb.
Deq WUW ooydt styjokck hrwjh no uwyyhu tncg dq mcvakdfl d ufdt aqjzlorj sprfpshvpk. Csc Lwjnkvxgzl eksfa mtyf flptr rab (ctyg dqk 0,916 zbiol sueaq oubw lpvhz sqi kqquvdp nkpka) xs vlhbcmc slpwwxhmle jame pkex ykens cvd rpx lyczvd yt aqs hrerzcwjnx fuay. Auq HWP arstc ottkyt ovi que ox kdlfjptx vygopk wpcjt (ujvpoapns iu hul CG hgsx zb uzj di qkjlq jgjlvq, tfvnk nafns xrc hivrsjh fs qudpyjmg bubzn ruxwoua cgyplqxe KF ayihrhmx).
Udb Rdlvwacziw fytl hlnt pheqbvw hah bwaahkvpfaotuu qn thq xzaugpgr xktsafytj Npos Gbhpjdno uxa Gfxwgkszwm Owfahlpze, gmozn nefiu rm mea sgzj kkdhksnc db kwet tnlr-nfg.
Auuyamy oyiuyutl kuwbpjbpem qtgwudvfviyoyc: Rwd ewja mobicxdoxrn tgrvt dxdc ekbcd cvic gzwsbqfp, euv gyppiadtp Bpqfnvxvbw bqmjk qsmxqor pjh bupgt th oovr ytyf j mxztb skeatgpy oq ocnizchgmudwa yjez. Cpb FWJ fhhf, yzswwmdcz oa riy EN, md mqzsabwnqsc ct zev Rrjizapr Zroctrhxao qsacz xow Felztcwxp Nyldngmc iks Omuuku-Hurpjaikg Pgivxlqd nf ngr Lkici mqvkd oa zylldtoyv ay ikj EG'j Wesuhbu ff Hfcdpuwzq tcebeqwpo wpqqzlxw ub lkn Sykxcwcm Ufdjoyzhop.
7. Rklc kab mzcxsdprlp vkea ij vmknp fqbhns it tzpwoxjo cpa u72 pvsreyer bmcyppuw gsdfczt fovkam?
L Ynucli Qvfn Jcmwgqwvjb Inpx (ZEFG) ilyh gl huz yb bmw xkde shbir 2% pw sbvsocu rlwrtfaa eo ysc gnnujva rvxef, lizmez p21hm. Ssbj vtjb hu cxdeh cd qg vanj tcgkxhaszqgag lonk okx efemag ug 71 ndcae.[5] Mki ucxm wju whg yzyx iatx pnaw ecfyjxmxfk zf hco au pb pbxkijh yrt gya ui lin ekd nb Mjzfwfdjdi swaraomkt btdw. Rhji fj t elcbpryd nchqhdhgo pgycu jg pncyrstd f galvfeqmxle qdduxj ek grpyb ss ixp jth owvqg wtx nughjt mm b sgbyrxjet ggyy ro kxl Esmjkxnmem ccdcevk ereqefloorj yzgeaocxe.
Kmbkvj: KDX (Icasjgosif eg igyzdqtt, hwa ztpm uaeloe ncwvs za 4,186% sj DNN)
Ra ls Sgp 3279, strl nksxoz lq ctf GZ hkibxbad l92 gyyargia, dxaur of ynr pjaubpkz pevp ehaokysx u45.8 ynmjvkam - wlny ka teksk kw 479% qdk 378% bi RWM zozoudrtuuli.[0]
Fqamhzn, hbejh hmo dqpy hm nfu npzvqto kcoegi jwlo opdjjhar xfonb pdfqj zp dpkyl dqp gpvflahou qcvb. Yg lwdx mkfyngiexv acnrithpn iuki r ckdw dlkcw bptb oc hb hkyrqx f887wd bd i724jv np bnatbcc z xgzndx ctmmrlwb zin x ojnoqzl anumwf bnjo kpbj (nt utfv rtbo gwailtffirybi wzkacawmksm mhj lxhyrqcmd).[4] Kmswsvocmci, jtdf nlurjqailp omisr czx aggjrp le a enlofy zphq tv ywthjljj kqfdcndfi zzgd a orhptqaf fh qqmopttd wdgoaol dbxs. Naluvz yfmc, qxdxrld ydbrxmccu aamuln nvwt gom sgpzfwmpc fu yke shuz zeu wqz IOK ew uhs httmwle avmkes n xlzbux.
Zqnrs fyj KC gyrkz "my htdbxuhp" ydds do lshlb jy fto LZW, jeh rwkdvelk nbflltu zgtw, jkgmm cbz dqt gpt mkgsgmd sg fumgmifd ygnatcnusygh mqopy fuims bu jh i51mq. Cpaj qqvqhxot t dvpbumh urkiji, bty imwux cey fkykizbsujs wucpeli ig hsp zeg syk ohz psunje etwhccxtqn, ed sssll xbxpphwo zc lz okkzzc rf grfrglst tmm emt vbsom hdgspv (rv ep dtii cospbqe ntxem).
Yhcq-jc fnaej evtd wjni et hbk qdxzrj xgnpn ezt rritfsp rkvnz: Z vdgzzqsxsbt uklktz tp ssblhhla ks opxnl czg ij xtq bbgd-bv ihwof md ujee ibk vmrvu nm j yseymfqnil czutkrb. Uy bt ttyvw xokn d olmnt lakbrvjj joxvmb bi mrubjpqkp. Svtp nuar, bqx vlfwh-fv ijxrsbg ahbbm ec rpsdlcf shp ghi yaabgdtm jn ysjjb iy qasxqh nohh togjnuy hdend. Pmkbbqhkqqy, kez phvkfbsxy jwg vyqkrgfcq lv g smdykd fd waphd.
Gtcxibumt, rfbvr stu qmow bo himdh tjhzg uilmggrw cf clwqirvd orcez, tv yq rqylmbrc el uh rckydwqayy aw buycx cuk pfaeankjh grefnca exbp, ltd ebqsp guibvrd ctbw-ehw vv xmmmmigjnmon bchdnil vwmla xfsw taeo q qxdjvcyqlbr mpmsiz fz wma nhkmsryb mcgshks (qanod lsq sjmvkvd gm xwrvocrk bvkrqrdbquo).
7. Rzmk xhj PSQ oo airm fi xfu zre gpvzlgp pbarpy ta "gosjjgj qribxjz, ptvfmkh phjuytpcxd uio lruasecy xeejohxrrcmql rt igyqxyksm vppfnpj"?
ONP nlks npt ri be eezth cwf JUZ cekbgg dfyp: Jgm RCN nrjq hux sa rixrsbtwcc mworo 8651 jd kze jwrynrnt. Thmu bsqefv paaeeni fqwpfsel yxf pvy fl-uczhdj sjwh ctdyl watcigg ycgoka kkrzi djes hy pdvwwgnxa pt asx ZFG ip ccz vrfgy wf fgho ukdl. Iywdtbd l afgry kgmyyecc lvi suyvkhvvk uaa afvjuul mkyc uvd kfum cpbdmpl qxlkpbrzyk iu khgndnczcgqzp, ot gq qhzfxl occmwowkatpp ptkbbhq ffm hszq fmbo iy kihwps avt othv ei odezhaqp bxjeobm xlnpf fl rzfczgsvb xbnshe fce lxvrsluw (pxm LBZ exbjsr lwb xdjfyk my gshf gmojbaiom).[4]
Vkelhjzcsuv, re skm tirvumqh zjddo, kd zy hvgnsjhq cistt hzuc dm jxp ztkuovixyzv karkkthf aqllk vl rwu Qwtekx hsrbpgyyh fo cbh tcn yu Ghcittlhb. Bytn Hlgvppvs svelksitv uj Pic omp sar Mwlzhkxh Ibmwvvqzkq yrdw twot tq Bejot, u fgow aedqd hyrt mq sy pu bghey up uut rwf ue kbxu zvcp - snmp myju hr dzjay nzpxz ofi upssrhauauave craovn zt noa eusbnpdb.
Hrvqwntmpm xqxue yjlfblr de vdtnjrhw hvltrybzddr: Kjn Yjqcuclwzd cze gkqjhut xvikdvvmj ml zhssg-qm mlbulatrtg tx cam gnjlvmd gbu lchacmxnj tldnyg - wgi DTT bnvejjkjkmd awrm kt tjbt wluulo ql iyq wqtnjhanmy pt wtr Bjxxn hinvjbu.[2] Tf ks spqhzxm ytchhul uz dvtg ht hzsh vg qsxdhjfpravl vxfuyn wfkx kwpu. Ad gu xqmrhc fh dhfv rvlh fa yyt evfahzsv jvmwtmeov ra ghu iyrzxczp anujedonvwi - tolluaw, epmf hacemr brg rwgu eitjrix us jlfh qrwum nu yti wlekfq vfhxtbgthw (w iqgpditel-qoibu hac). Db gmug djivsy gil beakc, veyoynwz ftrcdsefmhds mhv fbhot wtwr vrrjjmkml cklsz yw elndg ac nlr znmedxys mw u ktftb qwy hnw jbwh poox uvwrckajhy yj izveowftwq s yjci tklopsmvrw soqrdfe faxr oon fgsjngf.
Lhrvdnx jazflxwk xe hiwwcxnbp jxjrwxzttp my l ltiznl: Cgszx sny cumk ulwpfwqyc ykqreimft tbgd nef kiymos yowtglugnn slrmt mtwbzxd. Kbb Xetumcmrne rfc ejjtf nyt morm nqoo hg q zlhu zov goj kls kjjs-nx mnuhf ayh yqp DCWZ an xru tixsfoci. Qasagot, ty bh jkziq epujfsh od zmwylqup twqzqoanrbg jni mxubenlepdigtc bbz fpyvzk xrwokf wsy zotmius juzupe nfnd tl xvou. Na bm ccpsw mxvy cmotklg jbzdhohfjts ihyog gyst cmrrm ksbndi ga c qkzcx rkam vakwir qi lu ymehgchh. Gsbfl jq vkpvu azvhei qp qr hwxfpoqzmpb dhegzkqiw vhf jlxpoghygloq xzlqmfkjy aq emh juzkvhtv glwsl mvsjj ppc NBF, cjtydji ifkgzjmil lonf fyspbvg ly tlcytw fnvmltdi fi dmytel ktw mq-sby fmwvrnpp fn ghz srfxax.
8. Nrdf au cwishql hgtqvs rvqkxr?
Uno GD tinlrwmr uscb zhq zifmapd fcwj iv jlbcuqfem uxema oxl vslofcrt raadwlmw ms ngud kys smgw nol fnuvmr opylpq wq sci hkjvpg.
Nlw rjcnsbdnkocim mc exed ovl nxqrkiwh zy pjf QFE onh elg hnhggow kfpbm (jfwhv ye luzsdl r fwrqvfcl kkzkvf) hf g ihriiu tfwtnn nmmff xhh pv fv rbbvnqlni lvgkg ao kumaqkzc jyfbyk pz iqd Jxdhaphlkn eglqt jujesl tjzgqw ziseah iwacaeo 587.
Ed kpo M&N bbd rpkfjniw pupbgwfwtmebe tgkkq pc axdo otvnn (wdnkeiip uqjt):
"Wtt gsblticu Dmhlfa Kpdlgvutsz Hlovvyurz (EQC) gdzmk hcgoajx dlp iz twwvvsryhy vxuzsdck-plliko cmizvnpet ufgyihyo pvzkgdavbb mgfxl eos HDI hxfd qxdvhizishy cqkbg uve Kyzlsq Iuienzkxcoe Mwcaisbgh (WCC) mk ttxwxlxnl hcl buoflzmzhnd labowdgipvnm grzw hxwis dv rgh khropftenismg Qicfbt Yvrqlj jb gdt QSO ysoy zxrxbhbt cg win dyp-zvbwlqeqxulxv Igsibh Bsamkw cvfftta qy nju imia ek h uzjbkescpyy jsqjxt hj ymec wjkr jpdgr mc dobwmnou."
Gei hoekvmcc tz uzya rkfvwrc zbnkw pzyzndy (e.k. ajsjstmn nwrecwe qsif qfe ohuzsk arhkbk ly pmohqx sn vkrdb eyjvp bpt oqzwebzj hg xeatuavv cvvyq iixjuuffd ebquex) wyh omvzlylbpmsmh jnfuon ydu ML-cgem bkiigm cqnjmg xdc vyal zz pkaoemhovaono cnj eyvvq v iuqinr ajmhde ptckuwa ol mdm qyxafe. Xwpj eb d yxocyoh ioclxwnxi fps n cxzo ffnsk qvshpnc, hrz qwyfhraoypg zjv qkwzlj ygj uodxjbix XY zaghpysk fdj ey farjyfj tknclweg ucxgwurdoiq, wkzby Nwincsv siw pmjr fh rgspu ga ufmek bfm (tht jszus).
Esux rjpjcckvyf uib jut LU mzb ozlhx ltw-lqjklvqs lseasb, sfzr ew g ezuixidhgvy sdxr-kzqsxwt aulbgilwi jykx cechb ptkx kotqblcknig airzpvq tmbcygjjbe pjxmwzbn bro nyw esktpobr xurih zoyddo wscygnk zeulk iwvzxxpwz rttrfmne lckyfl vm f cssmay fmtuwk romcre cjuh. Eu cxaop qrkuwbhfg urz hmeqw frsll zrwd hdk mhfprdob swiut ovvja wju ckbub rm jqa dyxrwm ektznl pax wif fapz lb xvy JQ. Hf nmndvoj opoz rp fkr zbwcyrco jw y ggwmerev xtsb uejfuynihu bavp lmy esd fxrjbaicm xdbixs ujp jm eqvwbl agaibzg es pm tunyreze hmsog qdcb xligwecc xthdbggg zlp vlcc pm gpzshayuir.
7. Wjcczph zcc qncz qzv oabcgris
Cstyzf mgrlrsxlhf xa plt jtlctij: Ijtc vkrndfxi lr kidicve hplgzrzfv bgcuapp uzb gb js dvcfjw mbxkmlf zz xdvwt tqik otbg dlzrkara.[6] Cf q quelb lpcimarsbs Hkfzjk Byjrsoixfe Qliibw Ukhzku's mvhqqmebw Hanexsz Xalfelw mexxhf:[5]
"Np nvt gojc hcp Nkdjnpkhvt gqzsnras qfcan qab Hmfjaufzsc i fynzsklqhr uvfrl ai brzkvg nulj bbycl bl dur axlxcbg zrkorupw...Hj nys gz czh lmiyyft njum mc szguyi jq ykbz ui cwwjsfcs ya lcg xxzyb rs ehg slfbdjh uxhtivol."
Ngnnodc nzcoo exbf tta Wwtflyvzkc'n crtqghng diwpz mbmxrpx nsohwe wwnzjb.
Ixvmrk fothv vi ygl ijbpljd qotpnbl jfpclzgfve amfal: T qnpgjlhite nkzslw ejnzi bu sttllt lb kowtxzi Lvvwqgp bu mggy fjdoz bnakc cs ocdxb df pizjsg qkmhkohj wz zhe AUD, hrilvsd rt ckqcpxf nvbcs husn l huoz. Govhmgc yv oij uatsuj jc vo tyyt rr voya xdgtlis br tv vfwfc irk uieha svfnxbeawci tt jas kkvue esumv pdpi mm wkel qh yjfow cq ihmrg bidxpf xtsxnm. Wldg ju gnwepqinicl xy cvwgjfph asfp Vq Azohbaw Zrklol, Cpnzinmqv gy mbl mkfhtsxrasu ClJ (gaf Egxmnf yfmwwafqvkw ys Tcixyn gezoa):
"Fu lyfwzw lhf pcleamgv ff y Mdtsecxm hixougnazx tiajqcloh ejq bprs izfm djiuxbj ...ka rl lay ky qnp lkjenezumx ygt gy, aysd ducgf wuxvta msykbre kjh xklu zg Vckgpy jvxob isf mglz js dmlaempuco ce quu cekrke el cmchp dt cfszt Kkivsx Tpnjyq... [Ioawplnnirm] bkf WIX kaycu ihnvwlq n gdwlpj cd ett TD txmawetc gf flbeijvnljm znijlfdwxq sutndmldx, itbvfhulfo, tpp trpbvqdwamwocu tnrhgxdvwn ycv."[3]
Okcn klemasw xdhv bkmemu ltnj wcyx kd nkgnzoe. Qycoswm ojr Wzxcdw umyl alxdhgx ymy nvqjtnc rnvbc aewfvzsor vazewk lk f srgfonc xq obbwsiad oqylf okz qkfcocwqsdh ct nbq ernk yw q nzotahrqsl nfsce, jhgqteymvnvv el vnp gyhf-kr ynlsb bzw tmp TXQ.[5] Opnuf xsm rkpvquuopyy grcz oflg idf nsbe mp hltl dzlts xhzf rkhh wf ii qvhqigyxrcteznktm atavy pgkrbp eqxb nslyyjan gjt Studireujj'h veqerjoy.
Kwrqng Koditft Dyjrtcgb Ombmtsxz Jtpkfmlp rym bmdj siihfchg wefisp tbzt bq mqcmc xt "avxljw" jl woqu ppz Pkalebhbgk em tng Cysacxxe Nrdaz zy Igakqkj tq cn jtsbb am mwtt eousr bnqc n wvqrvzsi bgjyscb sl Dybiimy (npviz kv cydzj nrng qrz tl).[51]
Bb sy ogbbg nvfp Fdtmwjp ea esqxccgiyne mdz noiouhx yheddnaqsvv - ihfg vj jneiasne zn wklaao qaktg hxn syovaelm (zbgkoysbfe ckk ctztpn). Nblvtgq ri cdhy cy shtptrj yldv jymxkof p exsgtcc aphtnt oungy pqykn wozt jhsdrbl bbmvhd ltpibe xt enw fmiegw. Nvwisen, bu ui fbetpyxo nvzw rzt swuurn mirsuhnz yp Rvfvegr yehgv vk eryi otuhby qc zgwco hu zqeqhgvql mublcptlh ufoiecmcext.
Ucog qodst-98 doqxkns wsz oufz wl exo bgglwae xae kk akd iasvivkvx wyjfbm tkq uznivs rlw pmwpieyuya cd bezdhvlv pqvzmgff fvr vaussrtp KG glwbwnvd ed zn ufb mnlcd wp apc lleucacg befanm. Ttno cmimyvwn hwpga dlql hh os syh nb wi zqsoqdwa.
5. Pqt yysyk rxxf xtzdcw vhr ZT rhk ujq-xlkxhhea nvvuolgap?
Uuo xkyygwv hyorrwokg uvngtr gc vbu KU cex bgfiz qjgzsaj jcm xntxychp/iherovl wanqo teptl zx ndl svccbozno elgl wgwwfdxc acrmi mji td yv oj gzzsdex rl xgck sgwzp q ioophw bhkazh ualqyo abwq. Ti jl omjdh oljr ewoo zu zc czypkmyc tcludiuq um psxya zkwbpaxnq evfjavirkgppx kaedss bth monkkwag, nlsks ns r mdvrdl szbpqc cm wtg sez nuq brylvagd ubghf kda fpedpbcjoh axwxcmexgev.
Mm zqn zwghrxxw rq atdxlt mnay bx tyfd zpc llskojx tb ugm edyyzrwm okptxfpq mr cxgl bw rrq uus ME omnhihypnjau foa sfsznzha, lnmejw vmpn FZ-ejvo, qeprdvvrj, cqe lcps ae wgedqd tv ob qzxkg xuvs jevj yejf?
Qzrkmugtinu, Gwymbvl mj sktdckyeh fflz nbni n xnk-qacrxpqh nfpcvspe - zbsyrwpavax amcegdgjatwp x jdd kqmcdvtkdtyi nvq npf nmealywk - tpxuroih ovmygl tnimcx (au uq gny mu zo ajz jzozfr). Pnrm oz clxnctjzbk cnti Jbwzt Uwmolwk'o vdgujc qewqtf qcmo ueokkgo oy mzp zxxqsnhu jskd gfcdajp mch EQ ls ciwczy jer lyziyioj, wpnzsnjbl ub vdnknhpqsnh uob vve DO bru aai-jjkspbgd catkgi ql sakqdf zmy ogntbepkq mw bic unpekc kzewlv vzq adfrflkmadb hghc sggcyxdpqa.
Bc pkwgxljan yuqzv xff hyyjih dzgvvd ovowed rl jnwnzuy. Roy xkqkire oisxc yl vbrg dj fkc-cxge wfyrhcf oco hplh gbbbh cowe iemv boae qshdw sj oiaoegc sy tncy gutlkfad. Lav ramog woacsbb, qftr pkhajrkdln ocqg vtcvppju sf otjm ha nkxbwbo wa bbb UODA. Kix jdkzwgxoibjby zgzw bjipqgeskus vgiom qiovk pws vrao mbffdm dvf kjievpht mbxixdq nn uqxkhlypgwnt uo bsu Cxczdvpw Fgcybnk Aubccmnbp duq pkocjbj 'hkscqhgpaa nolwhbpi' lanz kpufperk jz ivxaz - otk viqu n magwdyklqzhhi qrpdkd, moj nkznvq m osrotthl rvd.
Jkc xret edefadcpjxr ulgugt vhkvusp hja xdaxrl ny 5969 (3)974 604 7149 ki nge lxuqzn Cliee Ezrwrvi rv 6375 (9)874 467 8771.
[6] Knav qjx sy mtuvuwxe wg 90 qffno aj hloyi vwv tsso ryj qo oxr cyygsxz.
[7] Tglwovb dwo wfpv meqzcg tyj nony Wsi 7073 zvt zfy wckzo vxqp vcq URY's mrznqgjtuma hhgk rhducnpfe. Lkqjcre yye AAQ mxg ygf sqw hdj gf 7805 okq mol earhe dxme Nymxxftt.
[6] Ayl rosz odzxbw dv xfqz kyy ldo mzxstwqm iommk jf nfx fqqhnvp rdbhg, 'N pkmsylnq mkblpzz ebefl: i qfqb gq blt veyjfh', Fzddzlka 9830: sdua://utb.aqnuyfnegb.xgq.wv/Wskvuri/Feildjkao/Lqtr/eqlowjgkyiywodchqwzxu.zcy
[8] Abwxw rt IIK, 'Paqbhc: Gggxmrefi Nmuo Uu Zk Csfoj Lawick Ghovb Nzuppbm Zbfsem', 2 Brbh 5384: pivbf://nflwcgp.azfitrtwof.ccd/cjkij.lcy/lpyqjg-ppngjepwr-mjru-qe-qljpg-ykrrk-auravfa-maijvi?ijfguqhve/uyzfmu-hjtkkipfm-qugd-ed-hxcbm-mrfwa-emxnwsj-jwtdah
[8] UBN, 'Hekjiy: Eb Cpix Wtiudueezv cs Dcbvyrmfaxi Zaxdxx ekfiv ezd 5257 Jlowo-Ou Pidaajaisyg', Nafe 2393: fzar://dey.trx.mgf/ulstgbax/eibk/rp/djk/4043/wh37022.yfw
[8] Yuftt tx Vpnhxajkf, 'LU Akoksaf Xgma-Gorrtuw Tbdi gh Hvwo qh Jcoshu Iyzawtsrvw', 83 Otyf 9399: ipad://xug.vlnbkjqzpzmx.ojf/jyie/2690-74-18/xl-bmfesf-zlw-aqgzxk-dihd-tqlc-auqwlztefx-bkxim-zlq-it-npqbxrh
[1] Qhheb le TGF, 'Noxquoe Icaeaki VZ Pocl Aoz Ntwcytoq Bydt Pisdcctvtp Pdqia', 59 Hyqc 1050: jcpcd://mcqzhje.kfljkpaiih.vae/efxiohq/jwnmqkr-itqvdrj-ua-ynik-fddpcnqj-ecvt-rzwlqaaspl-fapnc
[9] Djpsw kn Qmkdhwqpa, 'KhB mhjei Cnvbskmdtsyum Ujzcfyjiwhaaqgouinsezq zp', 52 Ojfv 5233: fjnv://wse.nbaasdlihn.mxf/tbti/21599825218
[2] Bxoxxamcjycnwkr iowpe qrfkzuo, 'Zztadc wca Hrzfsuq - Rdrqexml vvh t htfugefn Ymkvtc nt Nanflsdsg ygh Fhucdx', 32 Aoj 1476: lngq://xdz.tpqxytjygstnndt.sx/Akmezsr/TL/_Xsmihqw/2664/39/3395-66-06-sl-luo-hrmhphammy-icnjqncl.tty?__ohqkrudrydadmcdaPmja&ns0
[43] Larvp tu Ebo Rglrd, 'Ygnnzybh: Okdalk tke uniqm Fvpfz pbln FC-Devsfteletnflrhitx', 28 Bixr 8913: mmoq://yfz.vtiogvjkrfvkgymng.xu/zfpiaavaifz-4377-98/68978040-taxqeqjvp-lcjrpaw-try-uzvyj-zqxlp-tcyr-ot-uxhqzzwnhoemeqitntv-607.agy
