198 .pdf



Nom original: 198.pdfTitre: (198 d\351cembre fini 2012.pdf)Auteur: Dimelow

Ce document au format PDF 1.4 a été généré par Adobe Acrobat 9.5.1 / GPL Ghostscript 8.15, et a été envoyé sur fichier-pdf.fr le 27/11/2012 à 15:42, depuis l'adresse IP 86.196.x.x. La présente page de téléchargement du fichier a été vue 1895 fois.
Taille du document: 10 Mo (21 pages).
Confidentialité: fichier public


Aperçu du document


N° 198

Prestige

© ANDRE COPINNE chez DJEANS & CO

Joyeuses fêtes

- DECEMBRE 2012 - Envoi sur demande à anny.dimelow@telenet.be -

Décembre 2012

Beauté & Elégance

Photo MAIARA PIERLOT



6FKQHLGHUV

7RXW FKDQJHPHQW GH VDLVRQ GpEXWH SDU XQH
JUDQGH YLVLRQ TXL UHTXLHUW HQVXLWH XQH JUDQGH
SDUW GH WUDYDLO FRQFUHW HW IDVWLGLHX[ SRXU
GHYHQLU UpDOLWp /HV pTXLSHV GH FUpDWLRQ HW GH
GLUHFWLRQ LQWHUQHV GH 6FKQHLGHUV RQW UHOHYp OH
GpIL (Q FROODERUDWLRQ DYHF XQH DJHQFH
FUpDWLYH HOOHV RQW HQWUHSULV GH UHSRVLWLRQQHU OD
PDUTXH &H SURFHVVXV D GRQQp QDLVVDQFH j XQ

SURILO JpQpWLTXH
6FKQHLGHUV XQ QRXYHDX ORJR
XQ QRXYHDX ODQJDJH SKRWRJUDSKLTXH HW GH
FDPSDJQH DLQVL TXH ELHQ G
DXWUHV FKRVHV
HQFRUH 6DQV RXEOLHU OHV QRXYHOOHV VWUDWpJLHV
PDUNHWLQJ HW OHV DSSRUWV VROLGHV GH OD
FROOHFWLRQ /HV FROOHFWLRQV SRXU KRPPHV HW
GDPHV SUpVHQWHQW GH QRPEUHXVHV V\QHUJLHV HQ
WHUPHV G
LPDJH HW GH PDWLqUHV /H 6W\OH &
HVW
8QH )DoRQ 6LPSOH 'H 'LUH /HV &KRVHV
&RPSOLTXpHV
&KDUJpH
GH
UHGpILQLU OH ORRN GHV FOLHQWV O
pTXLSH GH FUpDWLRQ D UDSLGHPHQW
UpDOLVp j TXHO SRLQW 6DO]ERXUJ HW VHV UDFLQHV pWDLHQW XQH
VRXUFH G
LQVSLUDWLRQ LPSRUWDQWH SRXU O
DYHQLU )LqUH GH VD
FXOWXUH SUHVWLJLHXVH OD YLOOH GH 6DO]ERXUJ HVW OH EHUFHDX G
XQH
DOOLDQFH H[FOXVLYH HQWUH WUDGLWLRQ HW PRGHUQLWp /
pTXLSH V
HVW
GRQF HPSOR\pH j VRXOLJQHU OD YRFDWLRQ FRVPRSROLWH GHV
pOpPHQWV GH OD FROOHFWLRQ FODVVLTXH HW j FUpHU JUkFH j
O
LQWpJUDWLRQ GH QRXYHDX[ FRQFHSWV XQH FROOHFWLRQ TXL
LQWHUSHOOH OD FOLHQWqOH PrPH VL FHOOH FL QH FRQQDvW SDV
HQFRUH 6FKQHLGHUV /HXU EXW pWDLW GRQF G
RXYULU OH UHJDUG
VXU OD WUDGLWLRQ HW OD UpLQYHQWHU /D TXLQWHVVHQFH GH 6DO]ERXUJ
VH UHIOqWH pJDOHPHQW GDQV OD SDOHWWH TXL V
pWLUH GX EOHX QXLW DX[
WRQV PRUGRUpV HQ SDVVDQW SDU O
DPEUH O
pEqQH OH URXJH VDQJ OH
WDEDF OH JUDSKLWH O
DOLVLHU OH EHLJH HW OH JDOHW 3DUp FHWWH VDLVRQ
FRPPH j O
DFFRXWXPpH GH FRXOHXUV UDGLHXVHV HW GH FRQWUDVWHV
VpGXLVDQWV OH ORGHQ VXSHU ILQ GRQQH DX[ FUpDWLRQV XQH DOOXUH
IULQJDQWH ELHQ TXH UDIILQpH HQWUH pOpJDQFH HW WUDGLWLRQ
'HV GpWDLOV VXU OHV FROV WHOV TXH GH OD ULFKH EURGHULH LQVSLUpH GH
O
DUW GH
OD EURGHULH .DORFVD
KRQJURLVH FRQIqUHQW DX[ YHVWHV j FRO
GURLW XQ pFODW H[FHSWLRQQHO /D ORQJXH YHVWH j FRO GURLW GRQW OD
WUHVVH GH IOHXUV V
DOOLH DX[ GpWDLOV LQVSLUpV GHV XQLIRUPHV KRQJURLV
LOOXVWUH XQH DVVRFLDWLRQ UpVROXH HW KDUPRQLHXVH GH GLIIpUHQWV
pOpPHQWV VW\OLVWLTXHV OHV GpWDLOV PLOLWDLUHV EpQpILFLDQW G
XQH
LQWHUSUpWDWLRQ IpPLQLQH

$QQ\ 'LPHORZ





/H URL GX
KDPEXUJHU VH
QRPPH
+(0*,(¶6
/H KDPEXUJHU D VHV WLWUHV GH
QREOHVVH ,O Q¶\ D SDV TXH OHV
URLV 4XLFN HW 0DF'R TXL RQW
OHXU PRW j GLUH GDQV FH GRPDLQH
SDUWLFXOLHU
TX¶HVW
OD
JDVWURQRPLH UDSLGH RX TXL O¶HVW
PRLQV +(0*,(¶6 UHYLVLWH OH
KDPEXUJHU j VD PDQLqUH VDQV FKLFKLV PDLV DYHF VDYRLU IDLUH 9R\H] SOXW{W 7RXW HVW SDUp
GDQV OHV PHLOOHXUV PRUFHDX[ GH YLDQGH KkFKpH HW FXLW j SRLQW SDUpH GDQV GHV SDLQV RX VDQV
%UHI OH VXPPXP GH OD UHVWDXUDWLRQ DPpULFDLQH $X GHOj GH FH SODW SKDUH GH OD PDLVRQ OHV
JRXUPDQGV SHXYHQW FRPPHQFHU OHXUV DJDSHV
SDU GH VXFFXOHQWHV ©EUXVFKHWWHª DX
FDPHPEHUW RX HQFRUH XQH DVVLHWWH GH MDPERQ
6HUUDQR ©*UDQ 5HVHUYD ª 0DLV OH YpULWDEOH
PRUFHDX GH EUDYRXUH GH OD PDLVRQ UpVLGH
pYLGHPPHQW GDQV VHV KDPEXUJHUV 'H TXRL
GRQQHU XQ IDPHX[ FRXS GH SLHG DX[ LGpHV
UHoXHV HQ PDWLqUH GH VDQGZLFK GH FH JHQUH
$ F{Wp GH FH © FODVVLTXH ª OH FKHI SURSRVH
pJDOHPHQW OH ©0LVV 'DLV\ª WRXMRXUV XQ
VWHDN KDFKp GH E°XI %%% UHOHYp GH
FDPHPEHUW OpJqUHPHQW FRXODQW G
XQ FKXWQH\ G
RLJQRQV HW FKDPSLJQRQV GH MHXQHV SRXVVHV HW
G
XQH PD\RQQDLVH WUXIIpH /H ©%LJ %HQ ª OXL VH FRPSRVH pJDOHPHQW GH E°XI %%% PDLV
DXVVL GH IURPDJH 6WLOWRQ EOHX HW PD\RQQDLVH DX EOHX GH SRLUHV FRQILWHV DX[ pSLFHV GH SRLUHV
IUDvFKHV G
XQ FUXPEOH DX[ QRL[ GH SpFDQ HW SLJQRQV GH SLQ HW GH VDODGH 3OXV PpGLWHUUDQpHQ
OH ©0RQD /LVDª DVVRFLH GH OD YLDQGH GH E°XI IDoRQ
©VLFLOLHQQHª SDUPHVDQ SHUVLO DLO GHV WRPDWHV VHPL
FRQILWHV GH OD PR]]DUHOOD GL EXIIDOD GX &DUDPHO GH
EDOVDPLTXH HW XQ SHVWR PDLVRQ (QILQ IUDQFKHPHQW
H[RWLTXH OH ©7KDw 'HOLJKW ª VH FRQVWLWXH GH YLDQGH GH
E°XI DVVDLVRQQpH DX FXUU\ URXJH FLWURQQHOOH HW
FRPEDYD FLWURQ WKDw DX SLPHQW DQDQDV FDUDPpOLVpV HW
VDODGH 9RLOj GRQF GHV KDPEXUJHUV YpULWDEOHPHQW
FUpDWLIV IODQTXpV G
H[FHOOHQWHV IULWHV (QILQ DX FKDSLWUH GHV GHVVHUWV HX[ DXVVL WRXV SUpSDUpV
GDQV O
pWDEOLVVHPHQW RQ DXUD TXH O¶HPEDUUDV GX FKRL[ DYHF GHV FODVVLTXHV LQGpPRGDEOHV
FRPPH OH FDIp JODFp RX OD GDPH EODQFKH 7RXV GHX[ G
XQH RQFWXRVLWp LQFRPSDUDEOH PDLV
DXVVL DYHF GHV SUpSDUDWLRQV GDQV OH WRQ GH UpWDEOLVVHPHQW FRPPH OH © 1HZ <RUN %URZQLH ª
8QH DGUHVVH j HVVD\HU VDQV PRGpUDWLRQ 5XH GHV 'RPLQLFDLQV j %UX[HOOHV 3OXV
G¶LQIRV VXU ZZZ KHPJLHV EH
$QQ\ 'LPHORZ





9DFDQFHV DX[ $OSHV
,O V¶DJLW G¶XQ pQRUPH GRPDLQH TXL SRVVqGH GHX[
FHQWV VHSWDQWH NLORPqWUHV GH SLVWHV EDOLVpHV HW
IODQTXp j PqWUHV G¶DOWLWXGH 6RQ QRP OD
VWDWLRQ GHV 'HX[ $OSHV /H SURILO GH OD VWDWLRQ
GHV $OSHV HVW SODW DYHF XQH DYHQXH SULQFLSDOH
GH NP /
HQVHPEOH GHV SLVWHV HW GHV
UHPRQWpHV PpFDQLTXHV V
DJHQFH GHSXLV O
HQWUpH
GH OD VWDWLRQ j O
DXWUH ERXW GX SODWHDX HW SDU
FRQVpTXHQW OHV FOLHQWV DFFqGHQW GLUHFWHPHQW
GHSXLV OHXU KDELWDWLRQ DX[ SLVWHV HW DX[
UHPRQWpHV PpFDQLTXHV TXL SHUPHWWHQW GH VH
KLVVHU YHUV OHV KDXWV VRPPHWV &
HVW XQ DFFqV HW
UHWRXU VWDWLRQ 6., $8; 3,('6 JDUDQWL /H
OLHX SHUPHW GH OLVVHU GH EHOOHV WUDFHV GDQV OD
QHLJH HW G¶HIIHFWXHU GH MROLHV SWURPHQDGHV GDQV
GHV SD\VDJHV VSOHQGLGHV HW YLHUJHV j
FRQVRPPHU FHSHQGDQW HQ WRXWH FRQVFLHQFH
pFRORJLVWH HW VpFXULWp /
HIIRUW OD SHQWH HW OH
GpQLYHOp H[LJHQW GHV SUpFDXWLRQV HW OD SUpVHQFH
G
XQ SURIHVVLRQQHO /HV $OSHV PHWWHQW XQ
SRLQW G
KRQQHXU j VHQVLELOLVHU FKDFXQ VXU OD
SUDWLTXH GX KRUV SLVWH JUkFH j O
DQLPDWLRQ
KHEGRPDGDLUH )5((5,'( $77,78'( 6XU SODFH GHV SLVWHV VRQW GHVWLQpHV DX[
GpEXWDQWV HW LQWHUPpGLDLUHV HW DX[ FRQILUPpV HW H[SHUWV 8QH GHV SDUWLFXODULWpV GHV SLVWHV
DX[ $OSHV © SOXV RQ SUHQG GH O
DOWLWXGH HW
SOXV OHV SLVWHV VRQW IDFLOHVª VL ELHQ TXH OH
JODFLHU GHV $OSHV HVW LGpDO SRXU OHV
GpEXWDQWV /HV SLVWHV V
RUJDQLVHQW DXWRXU GH
VHFWHXUV 0RQW GH /DQV YLOODJH P
9DOOpH %ODQFKH 0 /HV &UrWHV 0
OD )pH 0 HW OHV KDXWV VRPPHWV HQWUH
HW PqWUHV /D GHVFULSWLRQ GH
O¶HQGURLW SHUPHW G¶DIILUPHU TXH OD VWDWLRQ GHV
$OSHV HVW SODW DYHF XQH DYHQXH SULQFLSDOH GH
NP /
HQVHPEOH GHV SLVWHV HW GHV UHPRQWpHV
PpFDQLTXHV V
DJHQFH GHSXLV O
HQWUpH GH OD
VWDWLRQ j O
DXWUH ERXW GX SODWHDX HW SDU
FRQVpTXHQW OHV FOLHQWV DFFqGHQW GLUHFWHPHQW
GHSXLV OHXU KDELWDWLRQ DX[ SLVWHV HW DX[
UHPRQWpHV PpFDQLTXHV TXL SHUPHWWHQW GH VH
KLVVHU YHUV OHV KDXWV VRPPHWV &
HVW XQ DFFqV
HW UHWRXU VWDWLRQ VNL DX[ SLHGV JDUDQWL 'qV OD
ILQ GHV DQQpHV OH VQRZERDUG HVW PRQWp HQ
SXLVVDQFH DYHF OH FpOqEUH 021',$/ '8 612:%2$5' (QILQ OD VWDWLRQ D UpDOLVp GH
QRPEUHX[ LQYHVWLVVHPHQWV SRXU SDUIDLUH VRQ VLWH )UHHVW\OH $XMRXUG
KXL OH 6QRZSDUN HW OHV
]RQHV )UHHVW\OH VRQW UHFRQQXV j O
pFKHOOH (XURSpHQQH'HV SRVVLELOLWpV GH ULVWRXUQH VRQW
SURSRVpHV j FHUWDLQHV SpULRGHV SRXU OHV HQIDQWV TXL DFFRPSDJQHQW OHXUV SDUHQWV 9R\H] OH
JXLGH HW OHV RIIUHV VXU ZZZ OHV DOSHVHQIDPLOOH FRP
$QQ\ 'LPHORZ




8QH QRXYHOOH
ERXWLTXH
RXYHUWH j
:DWHUORR
- -R\ HVW XQH OLJQH GH
YrWHPHQWV
G
H[FHOOHQWH
TXDOLWp GRQW OH SUL[ VH
YHXW j OD SRUWpH GH WRXV
/D PDUTXH D pWp LPDJLQpH
SDU XQ SDVVLRQQp GH PRGH
RULJLQDLUH GH OD UpJLRQ
OLpJHRLVH 6D SUHPLqUH
FROOHFWLRQ D YX OH MRXU HQ
'HSXLV ORUV OD JULIIH QH FHVVH GH JULJQRWHU GHV SDUWV GH PDUFKp $FWXHOOHPHQW OD JULIIH
FRPSWH SOXV GH SRLQWV GH YHQWH HQ %HOJLTXH HW j O
pWUDQJHU /D JDPPH SURSRVH XQH
FROOHFWLRQ WUqV FRPSOqWH GH SRORV WHH VKLUWV GRXGRXQHV HW DFFHVVRLUHV VDFV pFKDUSHV SRXU
KRPPHV IHPPHV HW HQIDQWV 8Q PRW
VXU OD WUqV EHOOH pWKLTXH GH OD PDUTXH
TXL VDQV HQ IDLUH XQ D[H GH
FRPPXQLFDWLRQ SRXUUDLW SUpWHQGUH j
XQH ODEHOOLVDWLRQ FLWR\HQQH /HV
YrWHPHQWV VRQW IDEULTXpV HQ ,QGH
GDQV XQH RSWLTXH pFODLUpH j WDLOOH
KXPDLQH V
LQVFULYDQW GDQV GHV
QRUPHV GH FRPPHUFH pTXLWDEOH
3LHUUH +DPEOHQQH OH PDvWUH
G¶RXYUDJH D SDU DLOOHXUV IRQGp XQH
DVVRFLDWLRQ TXL YLHQW HQ DLGH DX[
HQIDQWV HQ FUpDQW HQWUH DXWUHV XQH
pFROH PRELOH /
LGpH FRQVLVWH j UHYLVLWHU OH SROR GH PDQLqUH LQQRYDQWH HW RULJLQDOH HQ \
DSSRUWDQW GH OD FRXOHXU HW GHV LPSULPpV $XMRXUG
KXL OD JDPPH V
HVW FRQVLGpUDEOHPHQW
pODUJLH /D TXDOLWp GHV PDWLqUHV
SUHPLqUHV &HOOH FL HVW XQH SULRULWp
GDQV OH FKHI GX FUpDWHXU 'DQV OD
ERXWLTXH GH :DWHUORR FKDFXQ \
WURXYHUD FH TXL OH VpGXLUD /H WRXW
GDQV XQH DPELDQFH V\PSD HW UHOD[
$ O¶LPDJH GHV MHXQHV G¶DXMRXUG¶KXL
HW GH FHX[ TXL OH VRQW PRLQV (Q
HIIHW LO Q
HVW SDV UDUH GH SRUWHU XQ
MHDQV HW XQ SROR SRXU XQH SHWLWH
VRLUpH HQWUH DPLV )LQL OH WHPSV GX
FRVWDUG WURLV SODFHV SRXU VpGXLUH HW
SODLUH « $OOH] \ MHWHU XQ FRXS
G¶°LO 3DU GpVLU RX VLPSOH FXULRVLWp
8QH DGUHVVH &KDXVVpH GH %UX[HOOHV E j :DWHUORR 9R\H] DXVVL OH VLWH ZZZ EFEF EH
$QQ\ 'LPHORZ





5DGR
/RUVTXH YRXV DFKHWH] XQH PRQWUH GH FKH]
5DGR YRXV Q¶DFKHWH] SDV XQH PRQWUH
TXHOFRQTXH PDLV DXWDQW XQH PDUTXH
TX¶XQH SLqFH DYHF ODTXHOOH YRXV DXUH]
WRXWH VDWLVIDFWLRQ /D PDUTXH HVW
LQWHUQDWLRQDOHPHQW UpSXWpH SRXU VRQ
GHVLJQ LQQRYDQW HW OHV PDWpULDX[
UpYROXWLRQQDLUHV TX
HOOH XWLOLVH SRXU FUpHU
TXHOTXHV XQV GHV JDUGH WHPSV OHV SOXV
GXUDEOHV GX PRQGH 6L j O
DSSURFKH GHV
IrWHV YRXV UHFKHUFKH] O
DFFHVVRLUH RX OH
FDGHDX SDUIDLW SRXU XQ rWUH FKHU WRXW FH
TXL EULOOH HVW FKH] 5DGR 'LIIpUHQWV
PRGqOHV H[LVWHQW QDWXUHOOHPHQW DILQ GH
FRPEOHU WRXW XQ FKDFXQ $LQVL OD YHUVLRQ
&HUDPRV DOOLH OH FDUEXUH GH WLWDQH j XQ
DOOLDJH PpWDOOLTXH /H PDWpULDX VXELW XQ
SURFHVVXV GH PRXODJH SDU LQMHFWLRQ VRXV KDXWH SUHVVLRQ EDU DYDQW G
rWUH HQVXLWH
FKDXIIp RX ©IULWWpª j ƒ& 2Q SHXW pJDOHPHQW QRWHU XQ DIILQDJH SUpFLV GH VD FRPSRVLWLRQ
GH FpUDPLTXH KDXWH WHFKQRORJLH HW GX OLDQW PpWDOOLTXH RQW SHUPLV GH SURSRVHU GH QRXYHOOHV
FRXOHXUV $ORUV TXH OHV PRQWUHV HQ RU QH SHXYHQW VH WDUJXHU G
rWUH LQUD\DEOHV /D JDPPH
FRQVHUYH VRQ FDUDFWqUH XOWUD UREXVWH HW VD KDXWH UpVLVWDQFH DX[ UD\XUHV %UHI XQH PRQWUH GH
FKRL[ HW GH TXDOLWp SRXU OHV SOXV H[LJHDQWV /H PXVW RI WKH EHVW
$QQ\ 'LPHORZ



3,&$5' GpEDUTXH FKH]
QRXV
%DUGDI 7KH NLQJ RI FRQJpODWLRQ GpEDUTXH FKH]
QRXV HW FRPSWH ELHQ V¶\ LPSRVHU $SUqV DYRLU
UDIOHU OH PDUFKp GX F{Wp GHV &KDPSV (O\VpHV
3,&$5' HQWHQG IDLUH IRUWXQH GDQV QRWUH SD\V HW
ERRVWHU VHV YHQWHV 6L 3DULV YDXW ELHQ XQH PHVVH
%UX[HOOHV HQ YDXW SOXVLHXUV $SUqV OH PLOOLDUGDLUH
$UQDXG RQ DVVLVWH j XQH YUDLH LQYDVLRQ GHV VXMHWV
RX GHV PDUTXHV IUDQoDLVHV GDQV QRWUH UR\DXPH R LO Q¶\ D TXH OHV %HOJHV SRXU VH SODLQGUH GX
WHPSV GH OD SROLWLTXH HW GHV SUREOqPHV OLQJXLVWLTXHV
4X
LOV VRLHQW EDQTXLHUV IRQFWLRQQDLUHV HXURSpHQV
pWXGLDQWV FDGUHV GH PXOWLQDWLRQDOHV YRLUH PrPH GHV
PXOWLPLOOLRQQDLUHV LOV VRQW QRPEUHX[ j \ pOLUH
GRPLFLOH /D GHUQLqUH OLYUDLVRQ IUDQoDLVH HVW WUqV
LQWpUHVVDQWH FDU LO V
DJLW GH OD UHVWDXUDWLRQ XQ VXMHW TXL
XQLW %HOJHV HW )UDQoDLV /
HQVHLJQH 3LFDUG WUqV JUDQG
VSpFLDOLVWH GX VXUJHOp D RXYHUW UpFHPPHQW XQ PDJDVLQ
j :ROXZH 6DLQW /DPEHUW DYHQXH *HRUJHV +HQUL
DSUqV DYRLU WHVWp DYHF VXFFqV XQH LPSODQWDWLRQ j :DWHUORR 3LFDUG © F
HVW GX VpULHX[ª DYHF
XQH SUpVHQFH PDVVLYH HQ )UDQFH 'H TXRL UHPSOLU YRV VXUJpODWHXUV DYHF WRXW FH GRQW YRXV
UrYHU $QQ\ 'LPHORZ





/D WDEOH G¶8SLJQDF

'DQV VRQ FDGUH W\SLTXH HW DX
FRHXU PrPH GH O
DFWLYLWp
G
8SLJQDF /D 7DEOH
G
8SLJQDF j 8SLJQ\ HVW OH
UHSqUH GHV JRXUPHWV HQ TXrWH
G
DXWKHQWLFLWp 'DQV OHV DQFLHQQHV pFXULHV
GpFRXYUH] OHV SHWLWV HW JUDQGV VHFUHWV GH OD
FXLVLQH GX FDQDUG DLQVL TXH OHV YLQV GH WHUURLU
VRLJQHXVHPHQW VpOHFWLRQQpV $ SUR[LPLWp GX
UHVWDXUDQW GDQV O
DXWUH DLOH GH OD IHUPH GHX[
VDOOHV GH EDQTXHWV DFFXHLOOHQW OHV JURXSHV OHV
IDPLOOHV OHV HQWUHSULVHV SRXU GHV UHSDV HW GHV
DQLPDWLRQV JDVWURQRPLTXHV RX

RHQRORJLTXHV 3RXUTXRL QH SDV FRPELQHU XQH
DQLPDWLRQ FXOLQDLUH HW XQ UHSDV j OD IHUPH SRXU
IDLUH GH YRWUH YHQXH XQ pYpQHPHQW LQRXEOLDEOH "
2Q \ PDQJH YUDL DYHF GHV JURVVHV SLqFHV OLpHV j
OD WUDGLWLRQ HW XQ VDYRLU
IDLUH LQGpQLDEOH /D
FDUWH YDULH FKDTXH
VDLVRQ DYHF GHV SURGXLWV IUDLV HW OH FDQDUG TXL GHPHXUH OD YHGHWWH GX
OLHX 3RXU DFFRPPRGHU OD EHVWLROH HQ TXHVWLRQ RQ V¶\ SUHQG FRPPH
XQ FKHI 8Q PHW GRLW SODLUH DXWDQW DX[ \HX[ TX¶DX[ SDSLOOHV ,O HVW
WUDLWp HQ IRLH JUDV LGpDO FRPPH HQWUpH HQ FDUSDFFLR j O¶KXLOH
SRrOp GH GLYHUVHV PDQLqUHV RX HQ UDYLROHV 3RXU IDLUH ERQQH PHVXUH
RQ UHJDUGHUD DXVVL OHV GHVVHUWV WRXV VXFFXOHQWV HW OD FDYH GHV YLQV
LQFRQWRXUQDEOH $ORUV j SHLQH j XQH GHPL KHXUH GH OD FDSLWDOH YRLFL XQH DGUHVVH JRXUPDQGH j
QH SDV UDWHU 4XDQW DX WDULI GLVRQV QL SOXV QL PRLQV FKHU TX¶DLOOHXUV 8Q ERQ UDSSRUW TXDOLWp
SUL[
/D WDEOH G¶8SLJQDF j 8SLJQ\ 5RXWH GH OD %UX\qUH j 8SLJQ\ 7

$QQ\ 'LPHORZ





0$'2
/HV QRVWDOJLTXHV VRQJHQW LFL j XQ ILOP GH
&ODXGH 6DXWHW DYHF 5RP\ 6FKQHLGHU PDLV
VXUWRXW OD EHOOH 2WWDYLD 3LFFROR HW 1DWKDOLH
%D\H GDQV O¶XQ GH VHV SUHPLHUV U{OHV
3RXUWDQW 0$'2 HVW DXVVL XQH OLJQH GH
YrWHPHQWV SRXU IHPPHV DYHF XQH VpULH GH
MROLHV FRXOHXUV SRXU SDUHU j OD PRURVLWp
DPELDQWH GH O¶KLYHU TXL IUDSSH DX[ SRUWHV
DYHF WRXWH XQH SDOHWWH FDUQLYRUH TXL PHW GX
PRUGDQW GDQV O
pOpJDQFH 8QH JDPPH
PXVFOpH TXL IDLW YRLU OD YLH HQ URXJH HW HQ
URX[ LQWHQVHV 'H OD FKDOHXU HW GH OD GRXFHXU
SRXU VH SURWpJHU GHV DJUHVVLRQV DYHF HQ
VLJQDWXUH FHW KLYHU XQ WKqPH © *UDQG 1RUGª
WRXW HQ PDLOOH SXOO WULFRWp RX HQFRUH XQH WUqV
ODUJH JDPPH GH SXOOV RIIUDQW XQH SDOHWWH GH
ILOV QREOHV HW FKDOHXUHX[ WHO TXH O
DQJRUD RX
OH PRKDLU FRKDELWDQW DYHF XQ FUrSH /X[H
GRXFHXU HW YROXSWp VRQW DX SURJUDPPH GH
O
KLYHU 0DGR 8QH FROOHFWLRQ TXL MRXH
OD PL[LWp HQ FHW DLOOHXUV IDQWDVPp R OHV
FXOWXUHV V
HQWUHFKRTXHQW R OH YUDL F{WRLH OH IDX[ R O
RSXOHQFH FDFKH OD PLVqUH 8QH
FROOHFWLRQ TXL YRLW GRQF PDWLqUH FRPSDFW HW IOXLGH FRKDELWHU WLVVX PDW HW WUDQVSDUHQW VH PL[HU
MRXDQW O
DOWHUQDQFH HQWUH DERQGDQFH HW VREULpWp ,FL /HV FRGHV VRQW ERXVFXOpV XQH SDOHWWH GH
PDWLqUH TXL MRXH OD SURYRFDWLRQ DOOLDQW OH FODVVLTXH G
XQ PLQL SLHG GH SRXOH j O
K\SHU IpPLQLWp
G
XQH GHQWHOOH /HV FRGHV GH OD MXSH NLOW VRQW DVVRFLpV j
O
LQVROHQFH G
XQ SXOO j O
HVSULW GpFKLUp RX HQFRUH RQ GpFDOH
OH ERQ FKLF ERQ
JHQUH G
XQ FDUUHDX
JUkFH j VRQ HIIHW
WDFKp 0DGR HW OHV
$XWUHV DIILFKH GRQF
XQH
FROOHFWLRQ
DXWRPQH HW KLYHU
HQ UpDFWLRQ
IDFH j FH GpOXJH GH
FRQIHVVLRQV
LPSXGLTXHV GDQV
ODTXHOOH RQ UHWURXYH
OH OX[H GX VHFUHW OD
IpPLQLWp YRLOpH OD
YROXSWp
GHV
FRQILGHQFHV GRQW RQ QH UpVHUYH OD FOp TX
j XQ FHUFOH G
LQWLPHV &HWWH FROOHFWLRQ TXL WRXW HQ
UHVWDQW DFFHVVLEOH V
DUWLFXOH DXWRXU GH OD QRWLRQ GH FRGH j UpYpOHU DX[ LQLWLpV TXL SUpVHUYHQW
OHXU HW QRWUH LGHQWLWp 0$'2 &HWWH FROOHFWLRQ DXWRPQH KLYHU VH YHXW GRQF GHVWLQpH j
FHOOHV TXL YHXOHQW rWUH UpHOOHPHQW IpPLQLQHV

$QQ\ 'LPHORZ





$SULO .$50(1 OD
QRXYHOOH 3HUOH GH
'DQLHO +HUPDQ


1pH j %UX[HOOHV OH $YULO G¶XQH
IDPLOOH G¶RULJLQH &RQJRODLVH $SULO
.$50(1 HVW OD ILOOH DvQpH GHV WURLV
VRHXUV %ULOODQWH pWXGLDQWH HQ GURLW
pFRQRPLTXH HW HQ ODQJXHV HOOH HVW QRQ
VHXOHPHQW SDVVLRQQpH GH PXVLTXH GH
GDQVH HW DXVVL GH PRGH (Q YpULWDEOH
DVVRFLDWLRQ GH 'LYD HW GH )DVKLRQLVWD HOOH
FKDQWH GqV VRQ SOXV MHXQH kJH HW
V¶HQWUDvQH MRXU DSUqV MRXU HQ VH UpIpUDQW HW
VH SHUIHFWLRQQDQW VXU OHV WLWUHV GHV SOXV
JUDQGHV VWDUV LQWHUQDWLRQDOHV WHOOHV TXH
%H\RQFp 5LKDQQD RX 7RQL %UD[WRQ $SULO .$50(1 SDVVHUD OD PDMRULWp GH VRQ HQIDQFH
DX[ 3D\V %DV SXLV UHYLHQGUD HQ %HOJLTXH YHUV (OOH VH SUpVHQWHUD GDQV GLYHUV FRQFRXUV
HW IXW SOXVLHXUV IRLV UHPDUTXpH SDU GHV SURIHVVLRQQHOV GH OD PXVLTXH HW GH OD WpOpYLVLRQ &¶HVW
HQ TX¶HOOH IDLW OD UHQFRQWUH DYHF 'DQLHO +(50$1 DXWHXU FRPSRVLWHXU HW DUUDQJHXU GH
PXVLTXH pOHFWURQLTXH OXL PrPH FROODERUDWHXU GH ORQJXH GDWH DYHF %UXQR 6$1&+,21,
PHPEUH GX JURXSH %%( HW EHVW
VHOOHU PRQGLDO 7RXV GHX[
GpFLGHQW GH OD SURGXLUH HW
GpFRXYUHQW QRQ VHXOHPHQW XQH
DUWLVWH DFFRPSOLH HW ERXUpH GH
WDOHQWV © 1RQ VHXOHPHQW $SULO
HVW GRXpH SRXU OD FKDQVRQ PDLV
HQ SOXV HOOH pFULW GHV SDUROHV DYHF XQH IDFLOLWp GpFRQFHUWDQWH ª (Q SOXV GH VD TXDOLWp
G¶LQWHUSUqWH G¶XQH YRL[ H[WUDRUGLQDLUH G¶XQ /RRN WUqV RULJLQDO R OHV FXLVVDUGHV TXL OXL YRQW
j UDYLU RQW XQH SODFH SUpSRQGpUDQWH $SULO HVW QRPPpH FROODERUDWULFH SRXU OD SURGXFWLRQ
PXVLFDOH HW VLJQHUD VHV WLWUHV HQ WDQW TX¶DXWHXU
RIILFLHOOH &¶HVW DX VWXGLR GH 'DQLHO TXH OD
SUHPLqUH °XYUH © /LNH , ORYHG <RX ª j YXH OH
MRXU SRXU rWUH UHPL[pH HW UpDUUDQJpH DX VWXGLR
GH %UXQR /H &' HVW GpMj HQ WpOpFKDUJHPHQW
OpJDO HW HVW ELHQ HQWHQGX ODUJHPHQW GLIIXVp VXU
*2/' )0 j %UX[HOOHV RX
ZZZ JROGIP EH $SULO VHUD G
DLOOHXUV HQ UDGLR
GDQV /HV (WRLOHV GH %(6 FH GpFHPEUH
GqV K 3OXV G
LQIRV
KWWS EUXVVHOVHYHQWVVXSSRUW VN\URFN FRP
$SULO .$50(1 OD QRXYHOOH
3HUOH GH 'DQLHO +HUPDQ (.0
352'8&7,216 KWPO HW
KWWS DSULONDUPHQ EORJVSRW EH &RS\ULJKW
SKRWRV -DFN\ &UHQHDX
&KULVWLDQ %289<




/,12
/¶RXYHUWXUH GH OD
ERXWLTXH

/,12 j 0LDPL V¶HVW
UpYpOpH XQH UpXVVLWH
HW PDUTXH XQH
SUHPLqUH pWDSH GDQV
O
H[SDQVLRQ
GHV
DFWLYLWpV WDQW HQ
$PpULTXH
TX¶HQ
$PpULTXH GX 6XG OD
QRXYHOOH VHFWLRQ GH
OD ERXWLTXH HQ OLJQH
SHUPHW G
DFTXpULU OHV
SOXV EHOOHV SLqFHV
GHV FROOHFWLRQV SRXU
KRPPHV IHPPHV
HQIDQWV HW GH OLQJH GH
PDLVRQ /,12
/H VLWH UpFHPPHQW
PLV j MRXU UpSRQG DX
PLHX[ DX[ EHVRLQV GHV FOLHQWV 1RXYHDXWp OD SRVVLELOLWp GH YRLU OHV YrWHPHQWV SRUWpV GDQV
G
DPXVDQWHV YLGpRV TXL RIIUHQW XQH YLVLRQ j GX VW\OH '
DXWUHV VHFWLRQV GpGLpHV DX[
FRXSXUHV GH SUHVVH HW pYpQHPHQWV RQW pJDOHPHQW pWp DMRXWpHV SRXU IDLUH GH /,12 XQ
SURWDJRQLVWH LQFRQWRXUQDEOH GDQV OH SD\VDJH LQWHUQDWLRQDO 2Q \ WURXYH XQH FROOHFWLRQ WDQW
IpPLQLQH TXH PDVFXOLQH $LQVL OHV KRPPHV DXURQW OD MRLH GH GpFRXYULU XQ SDUGHVVXV HQ
FDVKPHUH GRPLQH OD FROOHFWLRQ TXL PLVH VXU XQ ORRN %&%* SDUIDLW SRXU O
KLYHU /H WRXW DYHF
O
DUW HW OD PDQLqUH GH PHWWUH HQ DYDQW OH VW\OH FRQWHPSRUDLQ MDPDLV HQQX\HX[ /HV QXDQFHV
UDIILQpHV GH JULV VH
PDULHQW j UDYLU DYHF
OH EOHX HW OH WDEDF
'X F{Wp IpPLQLQ OHV
GDPHV UDIIROHURQW
GHV GpWDLOV VRLJQpV
DSSRUWpV
DX[
PDWLqUHV
HOOHV
PrPHV YDORULVpHV
SDU OHXU IDEULFDWLRQ
IDVKLRQ OHV FRXSHV
LPSHFFDEOHV HW XQH
VpULH GH GpWDLOV
H[LJHDQWV ,FL WRXW
ULPH DYHF pOpJDQFH
HW VREULpWp 8Q SHX j
O¶LQVWDU GH OD SLqFH
PDvWUHVVH GX FDWDORJXH $ VDYRLU XQ PDQWHDX HQ FDVKPHUH HW OLQ GRWp GH SRFKHV SDWFK XQH
WRXFKH GH OX[H HW UHKDXVVp GH GpFRUDWLRQV VXU OHV RXUOHWV 8QH SLqFH j DVVRFLHU DYHF XQH EORXVH
HQ VRLH DX[ LPSULPpV IORUDX[ HW XQ SDQWDORQ pYDVp %UHI GHV WRQV GRX[ TXL PDULHQW O
RUJH OH
YHUW HW OH EOHX FDQDUG
$QQ\ 'LPHORZ




'X QHXI FKH] *DOOHU
'HV SUDOLQHV RULJLQDOHV VRQW GpVRUPDLV HQ
FRPPHUFH (OOH RQW WRXW GHV JUDQGHV
DVSHFW TXDOLWp LUUpSURFKDEOH GX FKRFRODW HW
HPEDOODJH 7RXW D pWp UHYX SRXU SODLUH
$YHF FHWWH QRXYHOOH JDPPH OH FKDQJHPHQW
HVW UDGLFDO FKH] *DOOHU /HV SUDOLQHV VRQW
IDFLOHPHQW UHFRQQDLVVDEOHV DYDQW OD
GpJXVWDWLRQ HW OD TXDOLWp JXVWDWLYH HVW OD
FRQILUPDWLRQ GH OD TXDOLWp YLVXHOOH 3RXU
UDSSHO F
HVW OH DYULO TXH QRXV
LQDXJXULRQV QRWUH SUHPLqUH ERXWLTXH VXU OD
*UDQG 3ODFH GH %UX[HOOHV 'HSXLV ORUV OD
JDPPH GH SUDOLQHV D pYROXp ELHQ V€U PDLV
WRXMRXUV GDQV OD FRQWLQXLWp 4XH YRWUH
FKRL[ VH SRUWH YHUV XQH EHOOH ERvWH DILQ GH
GpFRXYULU WRXWHV OHV SUDOLQHV HQ XQH IRLV
RX YHUV OH WUDGLWLRQQHO EDOORWLQ YRXV
WURXYHUH] YRWUH ERQKHXU OHV GHX[
HPEDOODJHV VRQW GLVSRQLEOHV 9RXV Q
DLPH]
SDV OH SODVWLTXH HW OHV HPEDOODJHV LQXWLOHV
&HOD WRPEH ELHQ QRXV QRQ SOXV 'DQV OD
ERvWH GHV VpSDUDWLRQV HQ FDUWRQ SURWqJHQW
OHV SUDOLQHV GDQV OHV EDOORWLQV QRXV DYRQV GpYHORSSp XQ V\VWqPH GH SODWHDX[ DILQ GH JDUGHU OD
FRQYLYLDOLWp TXL QRXV HVW FKqUH GHSXLV DQV 3RXU IrWHU FHW pYpQHPHQW WURLV QRXYHOOHV
SUDOLQHV YLHQQHQW FRPSOpWHU OD JDPPH © &RFR ª DYHF XQH JDQDFKH FODLUH DX ODLW GH FRFR
-
DLPH VD GRXFHXU © $EULFRW © DYHF XQH JDQDFKH j O
DEULFRW &KDTXH IRLV TXH MH FURTXH GDQV
FHWWH SUDOLQH M
DL O
LPSUHVVLRQ GH FURTXHU GDQV XQ DEULFRW ELHQ P€U HW © 6HO GH *XpUDQGH ª DYHF
XQH JDQDFKH ELHQ V€U DX 6HO GH *XpUDQGH 4XH YRWUH FKRL[ VH SRUWH YHUV XQH EHOOH ERvWH DILQ
GH GpFRXYULU WRXWHV OHV SUDOLQHV HQ XQH IRLV RX YHUV OH WUDGLWLRQQHO EDOORWLQ YRXV WURXYHUH]
YRWUH ERQKHXU
$QQ\ 'LPHORZ







7(55( %/(8( YHUVLRQ +LYHU
7(55(
%/(8(
SURSRVH VRQ
FDWDORJXH
V\PSD
SRXU
O¶KLYHU j YHQLU
,O
V¶DJLW
WRXMRXUV
GH
YrWHPHQWV
IDFLOHV
HW
DJUpDEOHV
j
SRUWHU HQ WRXWHV
FLUFRQVWDQFHV
ELHQ DGDSWpV j
OD VDLVRQ 2Q
DVVRFLH VRXYHQW
OD PDUTXH j GHV
YrWHPHQWV GH
ELHQ rWUH j GHV WHQXHV PRGH GDQV /HVTXHOOHV RQ VH VHQW ELHQ HW TXL VRQW IDFLOHV j FRPELQHU
&HW KLYHU /H FRQIRUW UHVWH /H PRW FOp PDLV /D FROOHFWLRQ IUDSSH SDU VHV GpWDLOV pOpJDQWV TXL
QH /
HPSrFKHQW SDV GH UHVWHU ILGqOH j VRQ LGHQWLWp $XMRXUG¶KXL OD FROOHFWLRQ 7HUUH %OHXH VH
GpFOLQH VHORQ GHX[ JUDQGV WKqPHV &DPSXV HW )RUHVW /H EOHX HW OH URXJH VH PDQHQW DYHF XQH
WHLQWH RFUH FKDXGH HW GH O
DQWKUDFLWH &HV FRXOHXUV GRPLQHQW LPSRVHQW XQ WRQ TXL GHYUDLW
VpGXLUH OHV SOXV H[LJHDQWV /H WKqPH
&$0386 SRVVqGH GX FKLF DXWDQW TX¶XQH
WRXFKH %&%* 3XOO UREHV HW MXSHV RQW pWp
WDLOOpHV SRXU SHUPHWWUH XQH DLVDQFH

SDUIDLWH /D FROOHFWLRQ FRPSRUWH DXVVL GHV PRGqOHV
GURLWV HW VRXSOHV HQ VRLH IOXLGH LPSULPpHV GH VXMHWV
DEVWUDLWV RX V¶LQVSLUDQW GH O¶DUW GpFR HW GHV DQQpHV
4XDQW j OD VpULH EDSWLVpH )25(67 HOOH SDUH OH FRUSV GX
IURLG HW HO WLHQW ELHQ DX FKDXG GDQV XQ FRFRQ GH WLVVXV HW
GH PDWLqUHV FKRLVLHV SRXU DIIURQWHU O¶KLYHU ,O VXIILW GH
VH UpIpUHU DX[ PRGqOHV SRXU VH UHQGUH FRPSWH j TXHO
SRLQW FHWWH VpULH IDLWH SRXU OHV IHPPHV D GX FKLHQ
'HSXLV OHV QRPEUHXVHV FOLHQWHV GH OD PDUTXH
VDYHQW GH TXRL HOOHV SDUOHQW rWUH DX WRS VDQV FUHYHU OH
IRQG GH VRQ SRUWHIHXLOOH 8QH VWRU\ TXL IHUD HQFRUH
ORQJWHPSV SDUOHU G¶HOOH 4X¶RQ VH OH GLVH
$QQ\ 'LPHORZ





)OkQHULHV JRXUPDQGHV
9RLOj XQH DGUHVVH SRXU VH UHVWDXUHU VDQV
EkIUHU 2Q DGRUH FHWWH HQVHLJQH SRXU FH TX¶HOOH

D j QRXV RIIULU VHUYLFH GH TXDOLWp SODWV
RULJLQDX[ HW FDUWH VRLJQpH /H WRXW GDQV XQ
FDGUH pSXUp HW XQH VLPSOLFLWp ORLQ G¶DXWUHV
UHVWDXUDQWV D\DQW SLJQRQ VXU UXH HW MRXDQW OH MHX
GHV FKLFKLV PDOYHQXV 8Q JUDQG ERQXV DXVVL
SRXU OD VpOHFWLRQ GHV YLQV FODLUHPHQW PDUTXpH
SDU OHV © QRXYHDX[ ª YLJQHURQV HQJDJpV /H
WRXW FRQVHLOOp SDU XQ VHUYLFH V\PSDWKLTXH
'DQV O¶DVVLHWWH RQ GpEXWH SDU XQH SDQQD FRWWD
DX[ DXEHUJLQHV RQFWXHXVH HW IUDvFKH 3RXU
VXLYUH TXHOTXHV WURQoRQV GH PDTXHUHDX GpSRVpV
VXU XQ FRXOLV GH WRPDWHV HW SRLYURQV /H WRXW
GDQV XQ WUqV EHO pTXLOLEUH 3RXU VXLYUH OHV XQV
RSWHQW SRXU OD VSpFLDOLWp GH OD PDLVRQ O¶°XI
pYLGp GDQV OHTXHO VH UHWURXYH XQH SUpSDUDWLRQ FH
MRXU Oj j EDVH GH VDXPRQ IXPp HW FUX /HV DXWUHV
RSWHQW SRXU OD JDXIUH DX[ ROLYHV MDPERQ FUX HW
FKDQWLOO\ j O¶KXLOH G¶ROLYH (Q SODW XQH ORWWH
HVFRUWpH G¶XQH WULORJLH GH IHQRXLO HQ VDODGH HQ
WHPSXUD HW HQ FUqPH /H WRXW IRUW
ELHQ UpXVVL 3RXU ILQLU OH GXR EDQDQH
FHULVH HW JODFH VH UpYqOH pWRQQDQW GH
IUDvFKHXU WRXW FRPPH OH IRUPLGDEOH
IHVWLYDO G¶DJUXPHV GpFOLQp HQ VDYHXUV
HW WH[WXUHV pSDWDQWHV ,O Q¶\ D SDV j
GLUH OH VORJDQ © 2Q UHVWH SRXU OH
GHVVHUW ª Q¶D MDPDLV pWp DXVVL ELHQ
SRUWp /HV GHVVHUWV YDOHQW HQ HIIHW j
HX[ VHXOV XQH IOkQHULH JRXUPDQGH
GDQV FH TXDUWLHU %UDYR DX FKHI HW j VRQ pTXLSH SRXU OD EHOOH SURJUHVVLRQ HW XQH FRQVWDQFH
MDPDLV SULVH HQ GpIDXW FHWWH DQQpH /H SRLQW VXSSOpPHQWDLUH HVW DFTXLV 3DV GH FRXS GH IXVLO
&¶HVW VLPSOH V\PSD HW UDLVRQQDEOH F{Wp ILQDQFHV HQ FH WHPSV GH GLVHWWH
/HV )OkQHULHV JRXUPDQGHV UXH %HUFNPDQV j %UX[HOOHV 7
$QQ\ 'LPHORZ





6RQJHV G
XQ VRLU XQ PDJQLILTXH
UHFXHLO GH SRqPHV SRXU OHV IrWHV


6RQJHV G
XQ VRLU HVW XQ UHFXHLO GH SRpVLH R
VRXIIOH OH YHQW GH OD SDVVLRQ TXH O
DXWHXU
YHXW SDUWDJHU DYHF YRXV HW TXL MH O
HVSqUH
VDXUD FRQTXpULU YRWUH FRHXU
8QH ELHQ EHOOH LGpH GH FDGHDX j O
DSSURFKH
GHV IrWHV TX
HQ GLWHV YRXV /H UHFXHLO
6RQJHV G
XQ VRLU HVW GLVSRQLEOH 8Q RXYUDJH
XQLTXH pFULW DYHF FRQYLFWLRQ HW WDOHQW SDU
6RQLD *$//(7 3OXV G
LQIRV
.DQRSHHUHSWLOHV#RUDQJH IU




&KULVWLDQ %289<






Le « White
Hotel »
rejoint le
réseau ibis
Styles
&RQQX SRXU VRQ GHVLJQ DW\SLTXH
HW VD ORFDOLVDWLRQ LGpDOH DX FHQWUH
GH %UX[HOOHV VXU O¶DYHQXH /RXLVH OH © :KLWH +RWHO ª UHMRLQW OD IDPLOOH LELV 6W\OHV OD PDUTXH
G¶K{WHOV pFRQRPLTXHV QRQ VWDQGDUGLVpV GHVLJQ HW WRXW FRPSULV GX JURXSH $FFRU HW GHYLHQW
O¶LELV 6W\OHV %UXVVHOV /RXLVH














)5(<:,//(
$ORUV TXH OHV IrWHV GH ILQ G¶DQQpH VH
SUpFLVHQW VXU OH SDSLHU GH QRV DJHQGDV
)5(<:,//( VXJJqUH XQH VpULH GH
SUpVHQWV j RIIULU j FHOOHV TX¶RQ DLPH
YUDLPHQW ,O V¶DJLW WRXMRXUV GH ELMRX[
V\PSDV RULJLQDX[ HW SDV WURS FKHUV VL RQ
VH UpIqUH j OD TXDOLWp GH OD JDPPH
SURSRVpH 8QH FROOHFWLRQ GH SLqFHV GH
FDUDWV HVW PLVH HQ YHQWH SRXU OHV GHX[
UpYHLOORQV PrPH VL HOOHV SHXYHQW rWUH
DFKHWpHV SRXU VRL PrPH RX GDQV OH FDGUH
G¶DXWUHV pYpQHPHQWV ,O V¶DJLW GH IRUW

EHOOHV EDJXHV HW ERXFOHV G¶RUHLOOHV pPDLOOpHV TXL
VH FDUDFWpULVHQW SDU OHXUV PRWLIV HW OHXU JUDSKLVPH
XQLTXH (Q IDLW RQ SHXW DOOHU MXVTX¶j SDUOHU
G¶DXWKHQWLTXHV °XYUHV G¶DXWDQW FKDFXQH D pWp
SHQVpH HW WUDYDLOOpH DYHF VRLQ 'HX[ SRLQWV GH
YHQWH H[LVWHQW GDQV QRWUH FDSLWDOH /D SUHPLqUH
DGUHVVH HVW VLWXpH DX QXPpUR GH D SODFH GX
JUDQG 6DEORQ TXDQW j OD VHFRQGH HOOH V¶HVW pWDEOLH
GDQV OH KDXW GH OD YLOOH VLVH DX QXPpUR GH OD

SODFH /RXLVH Oj R OH JUDWLQ GH OD YLOOH VH
UHQG SRXU FKLQHU HW GpSHQVHU 8QH ERXWLTXH
H[LVWH pJDOHPHQW DX *UDQG 'XFKp GX
/X[HPERXUJ 0DLV FRPPH GLUDLW PD WDQWH
6X]H © 3RXUTXRL FRXULU j O¶DXWUH ERXW GX
PRQGH DORUV TX¶RQ D WRXW FH TX¶RQ D EHVRLQ j SRUWpH GH YRLWXUH RX GH PpWUR " ª
$QQ\ 'LPHORZ




*DOOHU
/D FpOqEUH PDUTXH GH FKRFRODW VDLW VH IDLUH GpVLUHU 3RXU
FH PRLV HOOH SURSRVH GHV pWLTXHWWHV j O¶HIILJLH GX &KDW
3RXUTXRL SDV " 9RLOj TXL YD UpMRXLU SDV PDO GH PRQGH
/HV DPDWHXUV GH FKRFRODW j ODLVVHU IRQGUH VRXV OD ODQJXH
HW OHV IDQV GH *HOXFN 2Q OH VDLW OH FKRFRODW *DOOHU HVW
WRXW ERQQHPHQW GpOLFLHX[ LGpDO SRXU VHUYLU DYHF OH FDIp
FRPPH HQ FDV RX SRXU VH IDLUH SODLVLU (Q SOXV RIIULU XQ
WHO FDGHDX Q¶HVW SDV GHV SOXV RQpUHX[ 5DLVRQ GH SOXV GH
FpGHU SDU FHV WHPSV GH FULVH 'H VXUFURvW O¶HQVHPEOH HVW
SUpVHQWp GDQV XQH EHOOH ERvWH HQ PpWDO TXL SHXW VHUYLU SDU
OD VXLWH '¶R GRXEOH HPSORL &HV FKRFRODWV V\PSDV VH
GpFOLQHQW HQ TXDWUH VDYHXUV 9R\H] SOXW{W ODLW SUDOLQp
EODQF SUDOLQp QRLU GH QRLU HW QRLU SUDOLQp 'H TXRL
FRQWHQWHU WRXW XQ FKDFXQ
$QQ\ 'LPHORZ



%HUQDUG 0DVVDUW
4XL D GLW TX¶RQ DOODLW FpOpEUHU XQ DQQLYHUVDLUH "
1RXV (W GH VXUFURvW DYHF XQH EHOOH ERXWHLOOH
TXL SpWLOOH XQ JUDQG JkWHDX HW SDV PRLQV GH
ERXJLHV /D PDLVRQ D pWp IRQGpH DYDQW OD
JXHUUH PRQGLDOH /D SUHPLqUH PDUTXH
DXVVL XQ WRXUQDQW FDU %HUQDUG 0DVVDUW VH SDUH
GH VHV RULSHDX[ HW DGRSWH XQ QRXYHDX ORRN
DXVVL GLVWLQJXp TXH OH SUpFpGHQW PDLV SOXV LQQ
/H SDUL SRXUUDLW SDUDvWUH RVp 1RQ LO Q¶HVW SDV
TXHVWLRQ GH WRXUQHU OH GRV j OD WUDGLWLRQ PDLV
GH V¶HQ LQVSLUHU SRXU HVVD\HU GH IDLUH PLHX[ HW
OD UHQRXYHOHU SRXU SOXV G¶XQ VLqFOH &H TXL
FRPSWH F¶HVW OD IrWH DX[ EXOOHV FHOOHV FL
UHFRQQXH j WUDYHUV OH PRQGH HW HQYLpH j
O¶pWUDQJHU IUXLW G¶XQ FHSV PHUYHLOOHX[ HW GX
WUDYDLO GHV RXYULHUV GX GRPDLQH EUDVVLFROH
&KDTXH YLFWRLUH LPSRUWH HW HVW FpOpEUpH 8QH
GHV FOpV GH O¶H[SDQVLRQ UDSLGH GHV SURGXLWV GH
FH GRPDLQH WLHQW HQ GHX[ RX WURLV FKRVHV
SRXUWDQW FDSLWDOHV SRXU H[FHOOHU XQH ERQQH
VLWXDWLRQ DYHF XQH H[SRVLWLRQ LGpDOH DX VROHLO
GHV UDLVRQV SRUWpV j PDWXULWp HW XQH PDvWULVH
VpFXODLUH GH OD WHFKQLTXH GH FXHLOOH HW GH
EUDVVDJH /H UHVWH HVW ODLVVp DX JR€W GHV
FRQQDLVVHXUV TXL SDUYLHQQHQW j UHFRQQDvWUH XQ
QHFWDU G¶XQ YLQ RUGLQDLUH (W FH QH VRQW SDV FHV
SURGXLWV LPSRUWpV TXL YLHQGURQW IDLUH GH
O¶RPEUH %HUQDUG 0DVVDUW V¶HVW IDLW XQ DUW HQ EXOOHV QREOHV &HOXL TXL \ JR€WH VDLW
QDWXUHOOHPHQW GH TXRL RQ SDUOH
$QQ\ 'LPHORZ




'(/$&5( 6H UKDELOOH

1RXV DYRQV WRXV TXHOTXH FKRVH HQ QRXV GH '(/$&5( FHV GpOLFLHX[ ELVFXLWV TX¶RQ DOODLW
JUDSSLOOHU GX ERXW GHV GRLJWV GDQV OD UpVHUYH GH JUDQG PqUH (Q JUDQGLVVDQW RQ D DXVVL DLPp OH
FKRL[ GHV GpFRUDWLRQV GHV ERvWHV DYHF VHV VpULHV 7LQWLQ )DPLOOH UR\DOH GH %HOJLTXH 3RXU FHW
DXWRPQH OH PRGLVWH &KULVWRSKH &RSSHQV KDELOOH OHV ERvWHV 9UDL GH OD PRGH DX[ ERvWHV LO Q¶\
D TX¶XQ SDV ,O FKRLVLW GHV FRXOHXUV G¶DXWRPQH TXL DXJPHQWHQW OH GpVLU GH JR€WHU OH FRQWHQX
'pEXWpH LO \ D SOXV G
XQ DQ FHWWH FROODERUDWLRQ D YX QDvWUH XQH FROOHFWLRQ pOpJDQWH HW IHVWLYH
6RXV OH VLJQH GH OD PRGH &KULVWRSKH &RSSHQV D FRPELQp OHV PRWLIV HW OHV WRQDOLWpV SRXU IDLUH
YLYUH XQH OLJQH IRUWH 'HX[ VpULHV RQW pWp FRQoXHV %HOJLDQ &ROOHFWLRQ HW 2FFDVLRQV &KDFXQH
G
HOOHV FRPSUHQG GHX[ PRGqOHV GH ERvWH GRQW OHV FRUSV HW OHV FRXYHUFOHV VRQW LQWHUFKDQJHDEOHV
FH TXL SHUPHW KXLW FRPELQDLVRQV GLIIpUHQWHV 7RXW FRPPH GDQV XQH JDUGH UREH OH SODLVLU
FRQVLVWH j DVVHPEOHU OHV pOpPHQWV j VRQ JR€W SRXU FUpHU GH 'HSXLV VD IRQGDWLRQ HQ OD
PDUTXH D SRXU FRXWXPH G
KRQRUHU FHX[ TXL FRQWULEXHQW j OD UHQRPPpH GH OD %HOJLTXH 'DQV
FHW HVSULW OHV pGLWLRQV OLPLWpHV GH ERvWHV HQ PpWDO UHQFRQWUHQW XQ IUDQF VXFFqV $SUqV DYRLU
LOOXVWUp +HUJp 0DJULWWH RX OD )DPLOOH UR\DOH OH ODEHO UHQG XQH QRXYHOOH IRLV KRPPDJH j VHV
UDFLQHV EHOJHV HW D FKRLVL &KULVWRSKH &RSSHQV OH VW\OLVWH HW FUpDWHXU EUX[HOORLV
LQWHUQDWLRQDOHPHQW FRQQX
$QQ\ 'LPHORZ






)RQG GH WHLQW %XUEHUU\
$YHF XQ ORRN VLPSOH HW pOpJDQW TXL UHSUHQG OD SDOHWWH GH OD
FROOHFWLRQ %XUEHUU\ 3URUVXP
$XWRPQH +LYHU OD PDUTXH
RVH XQ QRXYHDX GpIL HW GH
QRXYHOOHV QXDQFHV ,O V¶DJLW QL
SOXV QL PRLQV GH ODQFHU XQ IRQG
GH WHLQW IOXLGH PDW ORQJXH WHQXH
DSSHOp © 9HOYHW )RXQGDWLRQ ª 6RQ
WHLQW PDW HVW LUUpSURFKDEOH DYHF
XQ ILQL YHORXUV TXL VFXOSWH OHV
SRPPHWWHV ,O DVVRFLH WH[WXUH
OpJqUH HW UHVSLUDEOH DYHF
K\GUDWDWLRQ ORQJXH GXUpH DLQVL
TX¶XQH FRQFHQWUDWLRQ GH SLJPHQWV
SRXU XQ PHLOOHXU HIIHW FRXYUDQW $ FHOD LO HVW IDFLOH j DSSOLTXHU HW j HVWRPSHU 6HV FRPSRVDQWV
KXLOHX[ JpOLILpV HW pODVWRPqUH GH VLOLFRQH LQQRYHQW SRXU XQ ILQL VRXSOH HW GLVFUHW 6D IRUPXOH
UpVLVWDQWH j O
HDX HVW Oj SRXU XQH SURWHFWLRQ ORQJXH GXUpH FRQWUH OHV DJUHVVLRQV
HQYLURQQHPHQWDOHV DYHF GHV H[WUDLWV GH URVH VDXYDJH SRXU K\GUDWHU HW UpJpQpUHU OHV SHDX[
VqFKHV &{Wp SUpVHQWDWLRQ LO HVW FRLIIp G
XQ FDSXFKRQ PDW OH IODFRQ HQ YHUUH GpSROL UHIOqWH OD
IRUPXOH HW OH ILQL GX IRQG GH WHLQW 8Q FDSXFKRQ FRXOHXU EURQ]H RUQp GH O
HPEOpPDWLTXH PRWLI
j FDUUHDX[ 4XH GLUH G¶DXWUH " $K LO SURSRVH KXLW FRXOHXUV SRXU ELHQ V¶DGDSWHU j D GHPDQGH
3RXU SOXV G¶LQIRV FKHUFKHU TXHOTX¶XQ TXL O¶D GpMj HVVD\HU HW GHPDQGHU VRQ DYLV 2Q QH SHXW
SDV rWUH PLHX[ FRQVHLOOp TXH SDU TXHOTX¶XQ TXL VDLW GH TXRL LO SDUOH 2VH] XQ ORRN G¶HQIHU «
$QQ\ 'LPHORZ



/D IRUPXOH 1RUYpJLHQQH
3DU FH WHPSV GH IURLG 1(8752*(1$ QRXV DLGH j
OXWWHU FRQWUH OHV ULJXHXUV GH O¶KLYHU 8QH DWWHQWLRQ
SDUWLFXOLqUH HVW ODQFpH SRXU OHV PDLQV HW OD SHDX HQ
JpQpUDO 3OXVLHXUV SURGXLWV VH GpWDFKHQW GH FHWWH
JDPPH XQLTXH ,O \ D OHV SURGXLWV SRXU OHV PDLQV GDQV
XQ WXEH SDUIDLW DX FRQWHQX RQFWXHX[ HW UHJpQpUDQW ,O
VXIILW G¶XQ SHX GH SRPPDGH HW YRXV YRLOj K\GUDWp SRXU
DX PRLQV YLQJW TXDWUH KHXUHV &¶HVW IDFLOH VDQV HIIRUW
HW WHOOHPHQW SUDWLTXH &HWWH IRUPXOH FRQWLHQW GH OD
JO\FpULQH FRQFHQWUpH GpFRXYHUWH DX ;,;H VLqFOH 2Q
QH OH VDLW SDV DVVH] PDLV HOOH HVW UpJXOLqUHPHQW
LPSOLTXpH GDQV OD FRPSRVDQWH GHV FRVPpWLTXHV $XWUH XQ DVSHFW K\GUDWDQW FH SURGXLW VRXODJH
OHV GRXOHXUV HW UpSDUH OHV PDLQV DEvPpHV 3RXU FHX[ TXL OH VRXKDLWHQW LO H[LVWH XQH YHUVLRQ QRQ
SDUIXPpH GX PrPH SURGXLW $ FHOD FHWWH FUqPH SHUPHW XQH DSSOLFDWLRQ ORFDOH VXU OHV ILVVXUHV
HW OHV FUHYDVVHV MRXDQW SDU Oj XQ U{OH UpSDUDWHXU TXL Q¶HVW SOXV j SURXYHU 'HV UpVXOWDV VRQW
YLVLEOHV DSUqV XQH MRXUQpH GH VRLQV 4XDQW DX FRUSV LO VH YRLW SURSRVHU XQ EDXPH LQWHQVH TXL
pOLPLQH OHV LPSUHVVLRQV GH GpPDQJHDLVRQV HW OHV VHQVDWLRQV G¶LQFRQIRUW %UHI
1(8752*(1$ HVW OH SDUWHQDLUH LGpDO SRXU DLGHU j VXUPRQWHU O¶KLYHU VDQV OH PRLQGUH PDO GX
PDO HQ OLPLWDQW OHV GpJkWV GX IURLG « HW GH SDVVHU DX[ EHOOHV FKRVHV DYHF OH SULQWHPSV HQ
OLJQH GH PLUH GH PDL HW G¶DYULO $SUqV OD SOXLH OH EHDX WHPSV 0LHX[ TX¶XQ GLFWRQ
$QQ\ 'LPHORZ




*LD G¶2U
/pRQLGDV j OD IrWH 3RXU OD IDPLOOH HW OHV DPLV OH
FKRFRODW URL GHV SUDOLQHV GRQQH UHQGH] YRXV j WRXV
DXWRXU GX VDSLQ /¶RFFDVLRQ GH V¶pFKDQJHU XQ
FDGHDX SUpFLHX[ HW GH OH GpJXVWHU HQ VHUUDQW GDQV
OHV EUDV OHV XQV GHV DXWUHV /D FKDOHXU GX FKRFRODW
UpFKDXIIH OHV F°XUV HW O¶DWPRVSKqUH G¶DPLV HQILQ
UDVVHPEOpV SRXU OD 1DWLYLWp RX SRXU SDVVHU OH FDS
GH O¶DQ QHXI &HWWH IRLV OD PDUTXH SURSRVH VD VpULH
EDSWLVpH *LD G¶RU 6RLW WURLV YDULpWpV HPEDOOpHV
GDQV XQ HPEDOODJH GRUp GX SOXV EHO HIIHW SRXU OH
JR€W *LDQGXMD GDQV XQ SDSLHU GRUp SRXU OD VDYHXU
*LDQWLQD GDQV XQ SDSLHU FXLYUp HW GDQV XQ
HPEDOODJH DUJHQWp SRXU OD *LDPDQGD &KDTXH JR€W
SRVVqGH XQH SHUVRQQDOLWp SURSUH DYHF XQH VDYHXU
UHOHYpH &HWWH VpULH HVW PDOKHXUHXVHPHQW

WHPSRUDLUH HW QH VHUD GLVSRQLEOH TX¶DX PRPHQW GHV
IrWHV $XVVL QH SDV \ JR€WHU ULVTXH GH GHYHQLU XQ UHJUHW &KDTXH ERXFKpH D TXHOTXH FKRVH
G¶XQLTXH /¶RQFWXRVLWp GH FKDTXH SUDOLQH IRQG OLWWpUDOHPHQW GDQV OD ERXFKH SRXU OH SODLVLU
%UHI XQ WUpVRU GH FKRFRODWHULH DYHF WRXW FH TX¶LO IDXW SRXU HQWKRXVLDVPHU HW SURFXUHU GX
ERQKHXU LQWHQVH
$QQ\ 'LPHORZ




/(;21
7$.(
7,0(

/D PRQWUH GH
WRXWHV OHV FRXOHXUV
SDVVH SDUWRXW TXL
V¶DGDSWH j WRXWHV OHV
VLWXDWLRQV






-Q -R\
/D FROOHFWLRQ pWDLW PL[WH MXVTX
j O
KLYHU GHUQLHU
$XMRXUG
KXL OHV SHWLWHV ILOOHV HW DGROHVFHQWHV RQW
GURLW j OHXUV SURSUHV PRGqOHV XQ ]HVWH SOXV JLUO\ TXH
FHX[ GHV -Q -R\
ER\V /HV SRORV HW OHV VZHDWV
DUERUHQW GHV FRXSHV SUqV GX FRUSV HW GHV VWUDVV TXL
VRXOLJQHQW DYHF pFODW OHV ORJRV HW OHV GLIIpUHQWV
SULQWV
6ZHHW (QIDQF\ %HORYHG

2OG 6FKRRO

&RWWRQ
3DVVHSRUW
9HUGLFW WURS PLJQRQ WURS NDZDL /HV
JDUoRQV Q
RQW SDV j rWUH MDORX[ -Q -R\ OHXU RIIUH OD
SULRULWp SRXU OHV MHDQV $YHF XQH FRXSH XQLTXH HW
WURLV SLqFHV SHUPHWWDQW G
DVVXUHU F{Wp ORRN /H
VXFFqV JUDQGLVVDQW j FKDTXH VDLVRQ OH FUpDWHXU GH
-Q -R\ 3LHUUH +DPEOHQQH D FRQILp j OD MHXQH
VW\OLVWH $XURUH 6FKLSHUV OD PLVVLRQ G
DJUDQGLU OH
YHVWLDLUH GHV OLJQHV KRPPH IHPPH HW HQIDQW /HV
LQFRQWRXUQDEOHV SRORV VZHDWV ERG\ZDUPHUV HW
SHWLWHV YHVWHV PDWHODVVpHV VH FRPSOqWHQW GH
QRXYHDX[ pOpPHQWV LUUpVLVWLEOHV GH ERQQH KXPHXU
IDVKLRQ /D PDUTXH EHOJH QpH G
XQH VDFUpH GRVH
G
RSWLPLVPH HW G
XQ UHYLYDO GX SROR IDLW DX
FRQWUDLUH OH SDUL GH UpFKDXIIHU O
KLYHU HQ
FRXOHXUV /XPLQHXVHV FKDOHXUHXVHV IUXLWpHV
WRQLTXHV WRXWHV OHV QXDQFHV GH OD MRLH GH YLYUH
GpILOHQW VRXV OH FpOqEUH ORJR -Q -R\ TXL
HVWDPSLOOH GHV YrWHPHQWV VSRUWLIV HW FODVVLTXHV
DOOLDQW DOOXUH WUHQG\ FRQIRUW GpWDLOV VRLJQpV
TXDOLWp LUUpSURFKDEOH EHOOHV PDWLqUHV HW SUL[
DFFHVVLEOHV $ GpFRXYULU HQ %HOJLTXH HW j
O
pWUDQJHU GDQV SOXV GH SRLQWV GH YHQWH /H
FDWDORJXH Q¶RXEOLH SHUVRQQH +RPPHV IHPPHV
HW HQIDQWV 3UqV GX FRUSV JDOEpV HW FLQWUpV OHV
PRGqOHV IpPLQLQV GH FHW KLYHU VRXOLJQHQW OD
WDLOOH HW GRQQHQW j OD VLOKRXHWWH XQ F{Wp VPDUW UHOD[ HQ DGRSWDQW j OD IRLV OH PROOHWRQ GH FRWRQ
HW OHV pFXVVRQV GHV pFROHV SULYpHV DQJODLVHV 5RXJH KLELVFXV RX JULV DQWKUDFLWH" /H FKRL[ VHUD
FRPSOLTXp $XWUH VLJQH SUpGLVDQW O
pYROXWLRQ WRXWH HQ EHDXWp GHV VDLVRQV IXWXUHV OHV FDSXFKHV
VRQW GpVRUPDLV RXUOpHV GH IRXUUXUH 3RXU OHV
SHWLWV HW OHV JUDQGV OHV FRXOHXUV UHVWHQW
PL[WHV 6XU OH SODQ pWKLTXH -Q -R\ QH
SUDWLTXH SDV VHXOHPHQW OD JpQpURVLWp GHV
FRXOHXUV HOOH VH YHXW JpQpUHXVH DXVVL HQ
DLGDQW OHV HQIDQWV LQGLHQV j DFFpGHU j XQH
PHLOOHXUH pGXFDWLRQ 6D IRQGDWLRQ VRXWLHQW XQ
SURJUDPPH GH VFRODULVDWLRQ HQ ,QGH FKDTXH
YHQWH GH SROR SHUPHW GH ILQDQFHU GHV pFROHV
PRELOHV GDQV OHV YLOODJHV -Q -R\ HVW ILqUH
G
rWUH OD SUHPLqUH 30( EHOJH j DYRLU UHoX
O
DSSUREDWLRQ GH OD )RQGDWLRQ 5RL %DXGRXLQ
SRXU VRQ HQJDJHPHQW KXPDQLWDLUH
$QQ\ 'LPHORZ




&$1$5' '8&+(1(
/HV ERLVVRQV GH ERXFKH TXL
WRXFKHQW j O¶H[FHOOHQFH VRQW
UDUHV FKH] QRXV $ORUV TXDQG RQ
WLHQW XQ ODEHO GLJQH GH FH QRP
RQ HQ SURILWH SRXU HQ IDLUH OD
SXEOLFLWp ,FL WRXW HVW ERQ HW OH
SDODLV VDWLVIDLW 2Q D pWp MXVTX¶j
DIILUPHU TXH FHWWH ERXWHLOOH HVW
XQ QHFWDU HW XQH GHV ERLVVRQV GH
IrWH (Q WRXWH ORJLTXH LO
LPSRUWH GH JR€WHU FH TXL VH IDLW
GH PLHX[ HQ PDWLqUH GH
FKDPSDJQH &KRVH LGpDOH HQ
FHWWH SpULRGH TXL SUpOXGH DX[
IrWHV GH ILQ G¶DQQpH HW
V\QRQ\PH GH VRLUpHV HQWUH
FRQYLYHV RX DYHF OD IDPLOOH
3HWLW SOXV 'HX[ ERXWHLOOHV
DFKHWpHV HQ FHWWH SpULRGH GRQQHURQW GURLW j XQH WURLVLqPH JUDWXLWH
8Q FDGHDX QRQ QpJOLJHDEOH HQ FHWWH SpULRGH GH FULVH R PrPH OHV
ULFKHV RQW DSSULV j FRPSWHU 3RXU VH SURFXUHU FHWWH RIIUH LO VXIILW GH
VH UHQGUH GDQV OHV &DUUHIRXU 3ODQHW +\SHU HW 0DUNHW DLQVL TXH FKH] PDWFK &KDPSLRQ HW
0HVWGDJK /D FXYpH $XWKHQWLTXH %UXW HVW YHQGXH DX SUL[ GH ¼ 'HV FRXSHV SpWLOODQWHV
TXL GHYUDLHQW IDLUH XQ HIIHW E°XI ORUV GHV GHX[ UpYHLOORQV RX HQ WrWH j WrWH DYHF YRWUH WHQGUH HW
GRXFH $WWHQWLRQ OH FRIIUHW VHUD GLVSRQLEOH FKH] &DUUHIRXU GXUDQW WRXW OH PRLV GH GpFHPEUH DX
SUL[ H[FHSWLRQQHO GH ¼ (QFRUH XQH PDQLqUH G¶HIIHFWXHU GHV pFRQRPLHV HQ GpSHQVDQW
PDOLQ HW HQ VH IDLVDQW GH JURV SODLVLUV
$QQ\ 'LPHORZ


9$/52+1$ HVW OH URL GHV FKRFRODWV JRXUPDQGV
,PSRVVLEOH GH O¶LJQRUHU 1RsO HW 1RXYHO DQ DSSURFKHQW j
JUDQGV SDV /¶RFFDVLRQ GH ELHQ UHFHYRLU DPLV HW IDPLOOH HW GH
VH UpXQLU DXWRXU G¶XQ UHSDV JRXUPDQG DYDQW RX DSUqV OHV
PLJQDUGLVHV 'DQV FHW RUGUH G¶LGpH SRXUTXRL QH SDV JkWHU
YRV SURFKHV DYHF GH GpOLFLHX[ FKRFRODWV RULJLQDX[ 3RXU OHV
IrWHV OD PDUTXH ODQFH XQ FKRFRODW VXSHU DPHU TXL VH
FDUDFWpULVH SDU VRQ H[FHOOHQFH &HWWH SDVVLRQ VH WURXYH j OD
VRXUFH GX VDYRLU IDLUH GHV DUWLVDQV HW GDQV OD VpOHFWLRQ GH
IqYHV GH FDFDR SXUH &Upp SRXU OHV SkWLVVLHUV G¶pOLWH LO
EpQpILFLH G¶XQ HPEDOODJH VSpFLDO HW G¶XQ PDJQLILTXH ORJR GRUp ,O VXIILW GH OH JOLVVHU VRXV OD
ODQJXH HW GH OH ODLVVHU IRQGUH SRXU VH PHWWUH HQ DFFRUG DYHF VRL 7RXW VLPSOHPHQW GpOLFLHX[
/D ILUPH V¶HQJDJH DXVVL j DJLU HQ VH VHQWDQW UHVSRQVDEOH GX VXFFqV GH O¶HQWUHSULVH WDQW GDQV OH
GRPDLQH GX UHVSHFW GX GURLW GHV WUDYDLOOHXUV TXH GDQV OH GRPDLQH GHV 5HVVRXUFHV QDWXUHOOHV
'HSXLV FH FKRFRODW HVW VXU OHV WDEOHV DYHF XQ ERQKHXU FURLVVDQW /HV DPDWHXUV VDYHQW FH
TX¶HVW XQ ERQ HW YUDL FKRFRODW 5LHQ j YRLU DYHF OHV HUVDW] YHQGXV FRPPH SURGXLWV QREOHV 'X
SXU GX YUDL
$QQ\ 'LPHORZ






198.pdf - page 1/21
 
198.pdf - page 2/21
198.pdf - page 3/21
198.pdf - page 4/21
198.pdf - page 5/21
198.pdf - page 6/21
 




Télécharger le fichier (PDF)


198.pdf (PDF, 10 Mo)

Télécharger
Formats alternatifs: ZIP



Documents similaires


198
journal 14 mar 11
f0yepj2
roure presskit french
journal 15 nov 2010com
toutargousinp4111