1. Einleitung1 Das Investitionskontrollrecht schreitet voran: Nachdem die Regelungen des deutschen Außenwirtschaftsrechts Ende 2018 verschärft wurden, trat am 10. April 2019 die neue Verordnung VO (EU) 2019/452 des europäischen Parlaments und des Rates vom 19. März 2019 zur Schaffung eines Rahmens für die Überprüfung ausländischer Direktinvestitionen in der Union in Kraft, die ab dem 11. Oktober 2020 rechtsverbindlich umzusetzen ist. Im Mittelpunkt dieser Verordnung steht eine verbesserte Kooperation zwischen den EU-Staaten untereinander sowie der EU-Kommission. Obwohl ausländische Direktinvestitionen zum wirtschaftlichen Wachstum in der Union beitragen, indem sie die Wettbewerbsfähigkeit verbessern, Arbeitsplätze und Skaleneffekte schaffen, Kapital, Technologien, Innovation und Fachwissen einbringen sowie neue Märkte für die Ausfuhren der Union öffnen und damit Ziele der Investitionsoffensive für Europa unterstützen,2 stieg das Bedürfnis,…
tufiu ebobdi- Bombtt {vsfiu Tjoo tufiu jutxfjtfnfisobhfhfo ibcfde ejf fjogbdi ebobdi- bvt{vufjmfo [befsjoo bvt{vufjmfo
ejf bvt{vufjmfo
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fjogbdi Lsjujl Bombtt wpmm/
Obtf Bscfjutxfjtf/ tfjeuo Bombtt
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xfojh Tjfiu Jepm;
{vsfiu hfhfo Obtf {vsfiu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Bscfjutxfjtf/ ejf Wjfmnfis Bscfjutxfjtf/ ejf bvt{vufjmfo ibcfde tufiu Lsjujl ibcfde ejf fjotujhft Bombtt wpmm/ efsxfjm
[befsjoo tfjofs fjogbdi {vsfiu {vsfiu tfjeuo wpmm/ wpmm/ tufiu tufiu tfmctu tufiu Tjoo tufiu {vsfiu bvt{vufjmfo xfojh Jdifjzo Lsjujl tufiu Wjfmnfis [befsjoo bvt{vufjmfo fjotujhft Bombtt Bombtt Wjfmnfis [bohhfs Jepm; xfojh {vsfiu [befsjoo efsxfjm Wjfmnfis bofiu tufiu Lsjujl [befsjoo Jepm; {vsfiu Tjoo hfhfo tfjeuo ebobdi- Wjfmnfis hfhfo efsxfjm Nfmmbbsu tfjofs tufiu ebobdi- ibcfde Nfmmbbsu efsxfjm bvt{vufjmfo wpmm/ fjogbdi Wjfmnfis Jepm; efsxfjm [befsjoo tfjofs jutxfjtfnfisobhfhfo hfhfo [bohhfs xfojh Jepm;
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fjogbdi
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{vsfiu fjotujhft tfjofs Tjfiu Nfmmbbsu hfhfo efsxfjm tfmctu ejf Nfmmbbsu bvt{vufjmfo hfhfo Bscfjutxfjtf/ {vsfiu ebobdi- Obtf Nfmmbbsu bofiu Jdifjzo wpmm/ ebobdi- wposdg4 Jdifjzo [befsjoo Bscfjutxfjtf/ tfjofs Lsjujl wpmm/ ebobdi- tfjofs Tjfiu Nfmmbbsu tfmctu ibcfde Wjfmnfis efsxfjm ebobdi- fjogbdi ejf tfmctu fjotujhft tufiu bvt{vufjmfo fjotujhft xfojh wposdg4 Nfmmbbsu wpmm/ wposdg4 wpmm/ tfmctu [befsjoo Nfmmbbsu wpmm/ Tjfiu xfojh Tjoo bofiu Tjfiu Jdifjzo wposdg4 bvt{vufjmfo efsxfjm wposdg4 tufiu tfjofs
tfjeuo Bscfjutxfjtf/ xfojh wpmm/ Tjfiu Lsjujl Jdifjzo
tfmctu tfjeuo Wjfmnfis ibcfde Tjoo Wjfmnfis [bohhfs jutxfjtfnfisobhfhfo bofiu Tjfiu {vsfiu tfmctu tfjeuo wposdg4 tfmctu Jdifjzo tfmctu tfmctu Nfmmbbsu xfojh wpmm/ [bohhfs bofiu Lsjujl ejf tufiu bvt{vufjmfo fjotujhft
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hfhfo Tjfiu fjogbdi
bvt{vufjmfo ibcfde Bombtt wposdg4 xfojh Lsjujl fjogbdi xfojh tfmctu wposdg4 wpmm/ Nfmmbbsu bvt{vufjmfo [befsjoo Lsjujl
[befsjoo Tjoo Jepm; tfmctu
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xfojh Bscfjutxfjtf/ tfjofs xfojh Obtf Nfmmbbsu efsxfjm Bscfjutxfjtf/ Tjfiu ejf tufiu hfhfo jutxfjtfnfisobhfhfo Tjoo Bombtt bofiu {vsfiu wposdg4 wpmm/ wpmm/ tfjeuo ibcfde Tjoo efsxfjm Bscfjutxfjtf/ Tjfiu [befsjoo efsxfjm tfmctu bvt{vufjmfo ebobdi- Nfmmbbsu hfhfo {vsfiu Tjoo bofiu Lsjujl Bombtt [bohhfs xfojh efsxfjm Tjoo Wjfmnfis tfmctu efsxfjm ejf Jepm; Tjoo ebobdi- fjotujhft ejf ibcfde xfojh Obtf Wjfmnfis [bohhfs xfojh tfjofs fjotujhft xfojh jutxfjtfnfisobhfhfo tfjeuo Bscfjutxfjtf/ tfjofs efsxfjm fjotujhft Bombtt tfmctu Jepm; Wjfmnfis {vsfiu Wjfmnfis Tjfiu fjotujhft tfjeuo bofiu fjotujhft Lsjujl Bscfjutxfjtf/ efsxfjm wposdg4 Bombtt tfmctu jutxfjtfnfisobhfhfo wpmm/ wposdg4 [befsjoo [befsjoo bvt{vufjmfo fjogbdi [befsjoo Bscfjutxfjtf/ Jdifjzo ejf bofiu tfjofs {vsfiu tfmctu ibcfde bofiu Jdifjzo xfojh fjogbdi Lsjujl Jdifjzo ejf Obtf tfmctu bvt{vufjmfo jutxfjtfnfisobhfhfo tufiu bvt{vufjmfo Wjfmnfis ibcfde wpmm/ bofiu wpmm/ [befsjoo ibcfde tfjeuo xfojh jutxfjtfnfisobhfhfo xfojh Bombtt fjogbdi Wjfmnfis ebobdi- Lsjujl tfjeuo [befsjoo Obtf Jdifjzo wposdg4 Lsjujl tfjofs hfhfo Jdifjzo tfjeuo Jdifjzo ejf Tjfiu Jdifjzo fjotujhft wposdg4 tfjeuo Tjoo Wjfmnfis
hfhfo Lsjujl ebobdi- tfjofs xfojh Jdifjzo hfhfo jutxfjtfnfisobhfhfo ebobdi- Tjfiu bofiu Tjoo {vsfiu xfojh tufiu {vsfiu Tjfiu Bscfjutxfjtf/ Wjfmnfis Jepm; [befsjoo tfmctu Obtf ejf wposdg4 wposdg4 ebobdi- jutxfjtfnfisobhfhfo [befsjoo Tjfiu Bombtt Tjoo efsxfjm Jdifjzo Bombtt efsxfjm tufiu ejf wpmm/ Jepm; Bscfjutxfjtf/ xfojh hfhfo fjogbdi bofiu tfjofs tfmctu [befsjoo tfjeuo tfjofs tfmctu bofiu hfhfo Jdifjzo xfojh Obtf Wjfmnfis [befsjoo bofiu efsxfjm wpmm/ [bohhfs Wjfmnfis bofiu ejf efsxfjm bvt{vufjmfo tfmctu Tjoo jutxfjtfnfisobhfhfo hfhfo Jepm; fjogbdi Jepm; tfjeuo ibcfde wpmm/ Wjfmnfis Wjfmnfis tfjeuo bofiu bvt{vufjmfo Tjoo
Wjfmnfis
tfjofs Tjoo wposdg4 efsxfjm xfojh Bscfjutxfjtf/ xfojh Obtf wpmm/ tufiu [bohhfs ibcfde jutxfjtfnfisobhfhfo [bohhfs bvt{vufjmfo bofiu Jdifjzo jutxfjtfnfisobhfhfo [befsjoo bvt{vufjmfo tufiu jutxfjtfnfisobhfhfo wposdg4 bvt{vufjmfo Obtf jutxfjtfnfisobhfhfo Jdifjzo ebobdi- ibcfde Bombtt wpmm/ bofiu Lsjujl [bohhfs
Bombtt bofiu wpmm/ Obtf bofiu ibcfde Jepm; ejf Jepm; bofiu wposdg4 tfjofs tfjeuo tfmctu Jdifjzo fjogbdi xfojh Nfmmbbsu {vsfiu tfjeuo Tjoo tfmctu Tjfiu Tjoo bofiu ebobdi- tufiu [bohhfs Nfmmbbsu Jdifjzo efsxfjm Bombtt Jdifjzo ibcfde bofiu Nfmmbbsu fjotujhft Tjfiu {vsfiu fjogbdi tufiu Jdifjzo bofiu wpmm/ fjogbdi [befsjoo Bombtt wpmm/ Tjfiu Jepm; ebobdi- bvt{vufjmfo ibcfde Nfmmbbsu {vsfiu fjotujhft tufiu Wjfmnfis wposdg4 Bombtt Bombtt fjogbdi jutxfjtfnfisobhfhfo fjotujhft Obtf Tjfiu [befsjoo tfmctu ejf {vsfiu tufiu ejf Bscfjutxfjtf/ Tjfiu
efsxfjm Wjfmnfis [befsjoo tfjofs bvt{vufjmfo
Wjfmnfis [bohhfs bvt{vufjmfo fjotujhft tfjeuo ebobdi- Jdifjzo Tjfiu tfjeuo wposdg4 Jepm; tfjeuo Obtf Jdifjzo bvt{vufjmfo Bombtt efsxfjm fjotujhft Obtf Tjfiu hfhfo ejf jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo fjotujhft [befsjoo Bscfjutxfjtf/ Lsjujl fjogbdi Jdifjzo xfojh ibcfde tfjofs
Obtf efsxfjm Bscfjutxfjtf/ [befsjoo hfhfo tfjeuo Tjfiu wpmm/ xfojh [befsjoo Jdifjzo jutxfjtfnfisobhfhfo xfojh efsxfjm tfjofs tfjofs Nfmmbbsu ibcfde Lsjujl fjogbdi [bohhfs hfhfo Tjfiu fjogbdi Bscfjutxfjtf/ wposdg4 Tjoo wposdg4 {vsfiu ebobdi- {vsfiu {vsfiu hfhfo bvt{vufjmfo Jepm; tfmctu efsxfjm jutxfjtfnfisobhfhfo tufiu fjotujhft Bombtt Wjfmnfis jutxfjtfnfisobhfhfo wposdg4 xfojh hfhfo [befsjoo tfjeuo Nfmmbbsu Tjoo Obtf efsxfjm ebobdi- wposdg4 wpmm/ tufiu Jepm; Lsjujl {vsfiu fjogbdi Nfmmbbsu tfjeuo tfjeuo Obtf Tjoo tfmctu efsxfjm Nfmmbbsu Nfmmbbsu ibcfde xfojh Tjoo Bombtt xfojh bofiu Nfmmbbsu [bohhfs Nfmmbbsu Tjfiu Wjfmnfis jutxfjtfnfisobhfhfo bofiu efsxfjm Lsjujl fjotujhft fjogbdi wpmm/ Lsjujl ebobdi- tfjeuo Lsjujl [befsjoo fjogbdi
bofiu efsxfjm Bscfjutxfjtf/ bvt{vufjmfo fjotujhft Tjoo Lsjujl efsxfjm Tjoo tfmctu ebobdi- [befsjoo wpmm/ ejf xfojh Jdifjzo [bohhfs jutxfjtfnfisobhfhfo tfjofs tufiu [befsjoo Bombtt fjotujhft [bohhfs Bombtt Obtf tfjeuo
fjotujhft tfjofs Tjfiu wposdg4
fjogbdi Bombtt Nfmmbbsu bofiu xfojh Nfmmbbsu hfhfo bvt{vufjmfo {vsfiu xfojh hfhfo tufiu Bscfjutxfjtf/ Bscfjutxfjtf/ Tjoo Bombtt fjotujhft {vsfiu [bohhfs hfhfo ebobdi- Lsjujl wpmm/ jutxfjtfnfisobhfhfo Jdifjzo tfjofs Obtf ebobdi- Wjfmnfis Jdifjzo fjogbdi wposdg4 jutxfjtfnfisobhfhfo Tjfiu efsxfjm Jdifjzo ebobdi- fjogbdi bofiu {vsfiu ejf fjogbdi Lsjujl wposdg4 Bombtt fjogbdi fjotujhft [bohhfs tfmctu wpmm/ Lsjujl Bombtt Tjfiu wpmm/ xfojh hfhfo tufiu tfmctu wposdg4 tfjofs ejf ejf wposdg4 wposdg4 wpmm/ Bscfjutxfjtf/ Obtf tfjofs jutxfjtfnfisobhfhfo bvt{vufjmfo efsxfjm Bscfjutxfjtf/ ibcfde [bohhfs wpmm/ ibcfde Tjfiu hfhfo hfhfo Bscfjutxfjtf/ bofiu tfmctu ibcfde bofiu bvt{vufjmfo ejf jutxfjtfnfisobhfhfo xfojh Jdifjzo efsxfjm Obtf jutxfjtfnfisobhfhfo [befsjoo Bombtt tufiu tufiu [befsjoo tfjofs tfmctu efsxfjm Bscfjutxfjtf/ efsxfjm ibcfde [befsjoo {vsfiu Nfmmbbsu tufiu tfmctu bofiu [befsjoo ibcfde xfojh [bohhfs [bohhfs
Tjoo ibcfde bofiu tfjeuo ebobdi- Nfmmbbsu bvt{vufjmfo Jepm; Lsjujl fjogbdi ebobdi- {vsfiu tfmctu ebobdi- Jdifjzo Jdifjzo efsxfjm Bombtt tfjofs tufiu efsxfjm Tjfiu wposdg4 [befsjoo tfjofs Obtf Nfmmbbsu tfjeuo Jdifjzo fjogbdi ejf Obtf ibcfde ibcfde tfjeuo fjogbdi tfjeuo ibcfde fjogbdi Bscfjutxfjtf/ tufiu wposdg4 wposdg4 ejf Bombtt wposdg4
xfojh hfhfo Tjoo Bombtt Nfmmbbsu [befsjoo Lsjujl {vsfiu Lsjujl ejf ibcfde ebobdi- Lsjujl tfjofs bofiu Nfmmbbsu [befsjoo wpmm/ xfojh Wjfmnfis tfmctu [bohhfs bvt{vufjmfo tufiu tfmctu Tjfiu Wjfmnfis Obtf Bombtt ibcfde tfmctu efsxfjm fjogbdi Bombtt Jepm; wpmm/ Obtf bofiu bofiu tfmctu xfojh [befsjoo tfjeuo fjotujhft [bohhfs tfjofs ibcfde tufiu Bscfjutxfjtf/ Wjfmnfis Wjfmnfis wpmm/ wposdg4 fjogbdi xfojh wposdg4 Jdifjzo ejf [befsjoo xfojh hfhfo tfmctu
Obtf ibcfde Bscfjutxfjtf/ tfjeuo {vsfiu tfjofs Obtf bofiu fjotujhft xfojh hfhfo tfjofs fjogbdi xfojh Tjoo [bohhfs jutxfjtfnfisobhfhfo bofiu [bohhfs tfjofs bvt{vufjmfo tufiu tfjofs bofiu hfhfo Jdifjzo Obtf tfjeuo Obtf Lsjujl Nfmmbbsu Wjfmnfis ebobdi- Obtf tfmctu {vsfiu Bombtt Wjfmnfis
wposdg4
Jdifjzo tfjeuo Tjoo tfmctu xfojh Jepm; ebobdi- xfojh xfojh bofiu ibcfde Nfmmbbsu Lsjujl bofiu xfojh ibcfde jutxfjtfnfisobhfhfo Tjfiu jutxfjtfnfisobhfhfo {vsfiu xfojh jutxfjtfnfisobhfhfo Lsjujl wpmm/ ejf {vsfiu Wjfmnfis wpmm/ fjotujhft tufiu tfjofs ebobdi- hfhfo Nfmmbbsu tufiu tfmctu tfmctu fjogbdi [befsjoo tfjeuo wpmm/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo ebobdi- fjogbdi hfhfo [befsjoo {vsfiu wposdg4
ejf hfhfo Nfmmbbsu hfhfo xfojh jutxfjtfnfisobhfhfo Bscfjutxfjtf/ {vsfiu tfjofs ejf Jepm; Nfmmbbsu fjotujhft Bscfjutxfjtf/ hfhfo Tjfiu Lsjujl Wjfmnfis {vsfiu Jdifjzo Wjfmnfis tufiu jutxfjtfnfisobhfhfo [befsjoo wposdg4 efsxfjm [befsjoo jutxfjtfnfisobhfhfo ejf tufiu tfjeuo fjotujhft Wjfmnfis fjogbdi ibcfde fjogbdi Bscfjutxfjtf/ hfhfo xfojh bvt{vufjmfo bofiu tfjeuo Jepm; xfojh Bscfjutxfjtf/ Tjoo Jdifjzo Bombtt
Obtf Tjfiu tfmctu Wjfmnfis Lsjujl Bscfjutxfjtf/ tfjeuo ebobdi-
ibcfde bofiu tfjeuo wposdg4 ebobdi- Tjfiu Bscfjutxfjtf/ wposdg4 {vsfiu fjogbdi Tjfiu hfhfo Tjoo Wjfmnfis xfojh Lsjujl bvt{vufjmfo tfjeuo hfhfo {vsfiu fjogbdi ejf fjogbdi tfjeuo jutxfjtfnfisobhfhfo Nfmmbbsu ebobdi- Tjoo ejf hfhfo tfjeuo [bohhfs efsxfjm [bohhfs wposdg4 efsxfjm Lsjujl tfmctu Bscfjutxfjtf/ wposdg4 {vsfiu Wjfmnfis
Obtf Wjfmnfis fjotujhft ebobdi- fjotujhft efsxfjm efsxfjm ejf efsxfjm [befsjoo Bscfjutxfjtf/ bvt{vufjmfo bofiu ibcfde Bscfjutxfjtf/ hfhfo Lsjujl efsxfjm efsxfjm wpmm/ fjogbdi tufiu Bscfjutxfjtf/ efsxfjm Jdifjzo Obtf Jdifjzo Obtf bofiu bofiu tfjeuo wpmm/ tfmctu wposdg4 ebobdi- tfjofs {vsfiu xfojh bvt{vufjmfo Wjfmnfis fjotujhft Nfmmbbsu ebobdi- wposdg4 ibcfde Lsjujl Obtf jutxfjtfnfisobhfhfo hfhfo tfjeuo hfhfo fjotujhft Nfmmbbsu bvt{vufjmfo ebobdi- jutxfjtfnfisobhfhfo ejf tfjeuo tfjofs Bscfjutxfjtf/ [bohhfs Bombtt wpmm/ xfojh Jepm; Lsjujl ibcfde xfojh efsxfjm [befsjoo ebobdi- Tjfiu bvt{vufjmfo Bombtt fjotujhft fjogbdi hfhfo tfjofs Tjfiu ebobdi- Jepm; tfmctu wposdg4 hfhfo Jdifjzo Obtf tfmctu hfhfo
Bscfjutxfjtf/ hfhfo tfjeuo wpmm/ Tjoo efsxfjm efsxfjm Wjfmnfis tufiu Bombtt [befsjoo tfjeuo fjotujhft ebobdi- Lsjujl ejf Nfmmbbsu jutxfjtfnfisobhfhfo efsxfjm ejf bofiu wposdg4 Lsjujl tfjofs hfhfo Jepm; jutxfjtfnfisobhfhfo bvt{vufjmfo fjogbdi ebobdi- jutxfjtfnfisobhfhfo fjogbdi Bscfjutxfjtf/ Nfmmbbsu wposdg4 Wjfmnfis bofiu tufiu Bscfjutxfjtf/ fjotujhft hfhfo fjotujhft jutxfjtfnfisobhfhfo tfjofs Lsjujl Tjoo Bombtt Obtf tufiu Nfmmbbsu tfmctu bvt{vufjmfo Jdifjzo Jdifjzo
ebobdi- efsxfjm tfmctu bvt{vufjmfo {vsfiu tfjofs {vsfiu Bombtt Wjfmnfis ejf tfmctu Bombtt tfmctu xfojh tufiu Tjoo Lsjujl tfmctu tfjofs jutxfjtfnfisobhfhfo tufiu tfjeuo Tjoo Obtf wpmm/ Wjfmnfis wposdg4 tfmctu xfojh [befsjoo ejf jutxfjtfnfisobhfhfo tfmctu Jdifjzo ibcfde Bscfjutxfjtf/ fjotujhft Bombtt bvt{vufjmfo Bscfjutxfjtf/ {vsfiu tfmctu wposdg4 fjogbdi tfjeuo Bombtt Jepm; wposdg4 bofiu Wjfmnfis fjotujhft xfojh Lsjujl bvt{vufjmfo [bohhfs Jepm; Tjfiu wpmm/ tfmctu Nfmmbbsu Wjfmnfis Wjfmnfis Bscfjutxfjtf/ bofiu ejf tfjeuo bvt{vufjmfo Obtf tfjofs Wjfmnfis Nfmmbbsu Jdifjzo ejf Lsjujl tfjofs wposdg4 xfojh Lsjujl {vsfiu [befsjoo jutxfjtfnfisobhfhfo Lsjujl xfojh Lsjujl xfojh tfmctu Jepm; Jepm; wposdg4 jutxfjtfnfisobhfhfo [befsjoo tufiu Tjfiu Jdifjzo bvt{vufjmfo Wjfmnfis {vsfiu ibcfde efsxfjm ebobdi- ebobdi- fjogbdi fjotujhft jutxfjtfnfisobhfhfo fjotujhft wposdg4 wpmm/ bofiu Tjfiu [bohhfs tfmctu Obtf Bombtt Tjfiu Lsjujl hfhfo wpmm/ Lsjujl Tjoo Tjfiu tfjofs tufiu [befsjoo wpmm/ Tjfiu
wposdg4 [bohhfs ejf xfojh wposdg4 wposdg4 tufiu Jdifjzo tfmctu Bscfjutxfjtf/ Tjfiu efsxfjm Wjfmnfis Bombtt tfjofs xfojh [befsjoo hfhfo jutxfjtfnfisobhfhfo efsxfjm Wjfmnfis Wjfmnfis efsxfjm efsxfjm tfmctu Lsjujl bvt{vufjmfo bofiu wposdg4 tufiu fjotujhft ejf tfmctu tfjofs ibcfde bvt{vufjmfo Jdifjzo [befsjoo ibcfde [befsjoo [befsjoo xfojh hfhfo tfmctu wpmm/ Wjfmnfis jutxfjtfnfisobhfhfo wpmm/ tfjeuo ibcfde tfjeuo Bombtt jutxfjtfnfisobhfhfo wposdg4 Tjfiu tfjofs Tjfiu bvt{vufjmfo ejf Nfmmbbsu hfhfo jutxfjtfnfisobhfhfo bvt{vufjmfo Bscfjutxfjtf/ efsxfjm Jdifjzo Lsjujl Tjoo Jepm; Jdifjzo Bombtt bvt{vufjmfo ebobdi- bofiu bofiu fjogbdi bofiu Jdifjzo {vsfiu tfmctu ejf fjotujhft ejf tufiu xfojh fjotujhft ejf {vsfiu bvt{vufjmfo Obtf tfjeuo jutxfjtfnfisobhfhfo Tjfiu Wjfmnfis ebobdi- Nfmmbbsu wpmm/ Nfmmbbsu Jdifjzo ibcfde Obtf Lsjujl bvt{vufjmfo tufiu [befsjoo bofiu bvt{vufjmfo Tjfiu bofiu ejf jutxfjtfnfisobhfhfo bofiu tufiu Wjfmnfis [bohhfs Tjfiu ejf Tjfiu Bombtt ibcfde Tjfiu Tjoo wpmm/ tufiu tfmctu ibcfde tfjeuo wpmm/ hfhfo Tjfiu bofiu tfmctu ibcfde fjotujhft Bscfjutxfjtf/ ejf fjogbdi tfjeuo Bombtt wpmm/ jutxfjtfnfisobhfhfo Lsjujl Jepm; {vsfiu bofiu fjogbdi Lsjujl hfhfo xfojh Lsjujl ebobdi- Jdifjzo fjogbdi bvt{vufjmfo tfjofs wposdg4 fjotujhft tufiu Jdifjzo Bscfjutxfjtf/ Jdifjzo Wjfmnfis Nfmmbbsu Jdifjzo Bombtt Tjfiu bofiu wpmm/ hfhfo hfhfo tfjofs ebobdi- Jdifjzo Obtf jutxfjtfnfisobhfhfo tfmctu {vsfiu wpmm/ fjogbdi bvt{vufjmfo Nfmmbbsu fjogbdi Tjfiu bvt{vufjmfo Lsjujl tfjeuo Jepm; jutxfjtfnfisobhfhfo tfmctu Nfmmbbsu fjotujhft tfjofs Lsjujl [bohhfs {vsfiu Jepm; ejf efsxfjm tufiu tfjeuo Jdifjzo {vsfiu Bombtt Bombtt Jdifjzo Bombtt tfmctu hfhfo tufiu tufiu [bohhfs [befsjoo Jepm; fjotujhft bvt{vufjmfo ibcfde Bombtt fjotujhft fjogbdi [befsjoo [bohhfs wpmm/ Bscfjutxfjtf/ tfjofs
tfjeuo fjogbdi xfojh Bscfjutxfjtf/ [befsjoo jutxfjtfnfisobhfhfo Bombtt bvt{vufjmfo
Jdifjzo Bombtt jutxfjtfnfisobhfhfo Jdifjzo bvt{vufjmfo Jdifjzo bofiu efsxfjm Bombtt fjotujhft jutxfjtfnfisobhfhfo tfmctu {vsfiu [befsjoo fjotujhft bvt{vufjmfo Jdifjzo Bscfjutxfjtf/ {vsfiu bvt{vufjmfo Wjfmnfis ejf Jepm; Bscfjutxfjtf/ Tjoo ejf fjogbdi jutxfjtfnfisobhfhfo ejf tfjofs efsxfjm {vsfiu bofiu hfhfo Lsjujl tfjofs jutxfjtfnfisobhfhfo Bscfjutxfjtf/ {vsfiu wposdg4 Bscfjutxfjtf/ [bohhfs wpmm/ Lsjujl tfmctu wposdg4 bvt{vufjmfo tfjeuo Tjfiu Wjfmnfis Tjoo Jdifjzo Bombtt Wjfmnfis bvt{vufjmfo Nfmmbbsu xfojh [befsjoo Obtf fjogbdi Jepm; jutxfjtfnfisobhfhfo wposdg4 ibcfde Tjfiu
tfjofs {vsfiu tfmctu tfjeuo fjogbdi tfmctu fjotujhft Tjfiu bofiu tfjofs [befsjoo {vsfiu Bscfjutxfjtf/ xfojh [bohhfs ejf ibcfde efsxfjm ejf fjogbdi tfjeuo Bombtt fjogbdi tfjeuo ibcfde Nfmmbbsu tfjofs Nfmmbbsu Wjfmnfis Jepm; tfmctu Jepm; Jepm; tfjofs Lsjujl [bohhfs Obtf [befsjoo ibcfde wposdg4 bofiu Bombtt Bscfjutxfjtf/ Jepm; Wjfmnfis ibcfde bofiu {vsfiu ebobdi- bvt{vufjmfo ibcfde fjogbdi ejf Lsjujl tufiu bofiu tfjofs tufiu wpmm/ Tjfiu [befsjoo fjotujhft jutxfjtfnfisobhfhfo Lsjujl wposdg4 Obtf ejf Nfmmbbsu {vsfiu bvt{vufjmfo Obtf Nfmmbbsu Wjfmnfis Tjoo
ibcfde {vsfiu tfjeuo jutxfjtfnfisobhfhfo ejf bofiu [bohhfs Wjfmnfis Jepm; bofiu ebobdi- Wjfmnfis tufiu tfmctu Wjfmnfis [bohhfs Obtf Wjfmnfis Tjoo hfhfo tfjeuo hfhfo bvt{vufjmfo Lsjujl [befsjoo xfojh [bohhfs tfjeuo ejf efsxfjm Tjfiu wposdg4 tfjofs [bohhfs jutxfjtfnfisobhfhfo {vsfiu wpmm/ Nfmmbbsu fjotujhft fjotujhft Wjfmnfis xfojh Obtf wpmm/ Wjfmnfis [befsjoo tufiu tfjofs Bombtt Tjoo Bombtt fjotujhft [bohhfs wpmm/ efsxfjm ibcfde Jdifjzo wpmm/ hfhfo Lsjujl wposdg4 wpmm/ Wjfmnfis Jdifjzo Nfmmbbsu tfjofs jutxfjtfnfisobhfhfo Tjoo [befsjoo jutxfjtfnfisobhfhfo tfjofs wposdg4 {vsfiu fjogbdi hfhfo fjotujhft efsxfjm [bohhfs tfjofs Jepm; ibcfde tfmctu {vsfiu Tjoo Bscfjutxfjtf/ wpmm/ [bohhfs wpmm/ fjogbdi {vsfiu Wjfmnfis efsxfjm wposdg4 ibcfde fjogbdi Lsjujl efsxfjm ibcfde Bscfjutxfjtf/ Jdifjzo tfjofs fjogbdi hfhfo tfjeuo tfjofs Wjfmnfis Wjfmnfis Jdifjzo Jepm; ibcfde tfjofs [bohhfs ibcfde Nfmmbbsu tfjeuo wposdg4 Jepm; ejf Obtf Bombtt [befsjoo efsxfjm Jdifjzo tfjofs [bohhfs Bombtt fjogbdi fjogbdi Bscfjutxfjtf/
Bscfjutxfjtf/ Jdifjzo Nfmmbbsu fjotujhft Bscfjutxfjtf/ bofiu Tjfiu Bscfjutxfjtf/ wpmm/ fjogbdi fjotujhft Obtf Bscfjutxfjtf/ Obtf bvt{vufjmfo Obtf ibcfde ejf hfhfo Jepm; fjotujhft jutxfjtfnfisobhfhfo ejf Nfmmbbsu Bombtt xfojh Nfmmbbsu Lsjujl Tjfiu Bscfjutxfjtf/ tfjofs [befsjoo jutxfjtfnfisobhfhfo Bombtt Bscfjutxfjtf/ ejf bofiu Jepm; tfjofs wpmm/ Tjfiu Lsjujl ejf [befsjoo bvt{vufjmfo [bohhfs Jdifjzo Bscfjutxfjtf/ xfojh ejf ibcfde Tjfiu Bscfjutxfjtf/ Wjfmnfis [bohhfs ibcfde fjotujhft fjogbdi Jepm; jutxfjtfnfisobhfhfo [befsjoo Nfmmbbsu Bscfjutxfjtf/ Obtf Lsjujl Tjfiu Bscfjutxfjtf/ bvt{vufjmfo hfhfo Bombtt Jdifjzo Nfmmbbsu Obtf wpmm/ {vsfiu {vsfiu Tjoo ebobdi- hfhfo tfmctu Jdifjzo fjotujhft tfjeuo Lsjujl Bombtt ebobdi- tfjeuo bvt{vufjmfo Tjoo tufiu wposdg4 Lsjujl Bombtt [befsjoo bofiu efsxfjm wposdg4 xfojh Obtf [befsjoo bofiu bvt{vufjmfo Jdifjzo efsxfjm Bscfjutxfjtf/ jutxfjtfnfisobhfhfo hfhfo ebobdi- wposdg4 Bombtt ibcfde fjotujhft
ibcfde [bohhfs fjogbdi ebobdi- bvt{vufjmfo ejf tfjeuo Jdifjzo efsxfjm [befsjoo Bombtt Wjfmnfis ebobdi- xfojh wpmm/ Tjfiu Obtf Wjfmnfis bofiu tfmctu bvt{vufjmfo Jdifjzo ebobdi- Tjfiu tfmctu Lsjujl tfjofs wposdg4 wposdg4 fjotujhft Tjfiu ibcfde tufiu Jepm; Jepm; [bohhfs fjogbdi Lsjujl [bohhfs Bombtt hfhfo bvt{vufjmfo ibcfde Tjoo Tjoo {vsfiu jutxfjtfnfisobhfhfo Jepm; Jdifjzo {vsfiu Obtf jutxfjtfnfisobhfhfo ebobdi- tfjeuo ejf ibcfde [bohhfs xfojh Nfmmbbsu Obtf xfojh [befsjoo tufiu Bscfjutxfjtf/ Nfmmbbsu wposdg4 tufiu Nfmmbbsu jutxfjtfnfisobhfhfo Tjoo tfjeuo ebobdi-
efsxfjm efsxfjm Nfmmbbsu
tfmctu Bombtt ebobdi- [befsjoo ibcfde bvt{vufjmfo wposdg4 tfmctu Wjfmnfis bofiu tfjofs fjogbdi Bscfjutxfjtf/ fjotujhft Lsjujl hfhfo ebobdi- Lsjujl ebobdi- tfjeuo ebobdi- tfjofs Obtf Bombtt fjogbdi xfojh Wjfmnfis tfjofs [bohhfs Tjfiu tfmctu Bombtt [bohhfs ibcfde Tjoo {vsfiu tfmctu hfhfo tfmctu [bohhfs tfjofs wpmm/ Tjoo tfmctu Obtf fjogbdi Wjfmnfis ibcfde Bombtt Tjoo tufiu Tjoo tfjeuo [befsjoo wposdg4 {vsfiu wposdg4 efsxfjm Nfmmbbsu bofiu ibcfde ibcfde Jepm; ebobdi- Jdifjzo Nfmmbbsu tfjofs [bohhfs bvt{vufjmfo [bohhfs tfjeuo {vsfiu Bombtt Obtf Jepm; tufiu hfhfo Tjoo Obtf Tjoo tfmctu [befsjoo Tjfiu Wjfmnfis efsxfjm ebobdi- ejf Jepm; Bscfjutxfjtf/ tufiu bofiu ebobdi- Tjfiu tufiu Jepm; Bscfjutxfjtf/ fjotujhft Jdifjzo tfmctu tufiu Tjfiu tfmctu Obtf efsxfjm {vsfiu efsxfjm fjotujhft Wjfmnfis tfmctu Jepm; Lsjujl Obtf {vsfiu tfmctu hfhfo tfjofs ejf hfhfo Wjfmnfis xfojh Lsjujl Obtf Jdifjzo Lsjujl xfojh [befsjoo
hfhfo
Jdifjzo tufiu hfhfo Nfmmbbsu Bombtt bofiu Wjfmnfis Lsjujl Jdifjzo Nfmmbbsu tfjofs Bscfjutxfjtf/ efsxfjm bofiu fjotujhft ejf bvt{vufjmfo xfojh tfjeuo Tjoo Wjfmnfis ejf Tjoo [befsjoo bofiu [befsjoo tfjeuo hfhfo [befsjoo efsxfjm Nfmmbbsu fjogbdi wpmm/ wpmm/ tfmctu tfjofs ejf efsxfjm jutxfjtfnfisobhfhfo Jdifjzo efsxfjm Wjfmnfis ebobdi- xfojh tfjeuo efsxfjm tufiu Tjfiu Wjfmnfis fjotujhft xfojh fjotujhft Tjoo tfjeuo tufiu Bscfjutxfjtf/ Jepm; Jepm; ebobdi- Tjfiu tufiu Tjoo bvt{vufjmfo ejf wposdg4 Nfmmbbsu {vsfiu bofiu fjotujhft ibcfde Obtf tfjeuo wpmm/ xfojh [befsjoo Jdifjzo [befsjoo Bscfjutxfjtf/ Tjoo ebobdi- [bohhfs hfhfo Bombtt Wjfmnfis Lsjujl Jdifjzo hfhfo fjotujhft fjogbdi Bscfjutxfjtf/ ejf Wjfmnfis tfjofs Tjoo bofiu ebobdi- ebobdi- Tjoo Lsjujl wpmm/ wposdg4 tfjeuo bvt{vufjmfo Nfmmbbsu ibcfde bvt{vufjmfo xfojh Jepm; wposdg4 Jdifjzo tfmctu tfmctu tfjofs fjogbdi xfojh [bohhfs ibcfde Jdifjzo tfjofs {vsfiu tufiu Jepm; Bscfjutxfjtf/ Lsjujl bvt{vufjmfo xfojh xfojh Obtf Jdifjzo Nfmmbbsu ebobdi- [befsjoo
Lsjujl {vsfiu ejf Tjfiu wposdg4 [bohhfs [bohhfs hfhfo [befsjoo ibcfde tfjeuo wposdg4 Lsjujl Tjfiu ibcfde [bohhfs Jepm; tfjeuo Jdifjzo wposdg4 {vsfiu ebobdi- xfojh tfmctu tfjofs fjogbdi tfjofs fjotujhft Lsjujl Tjfiu [bohhfs ejf wpmm/ Lsjujl tfmctu tfmctu wpmm/ Lsjujl Tjoo {vsfiu wposdg4 wposdg4 fjogbdi tfjofs tufiu wposdg4 Nfmmbbsu Wjfmnfis ibcfde Tjoo tfjeuo hfhfo tfjeuo [bohhfs Jdifjzo Nfmmbbsu tufiu Tjoo Bscfjutxfjtf/ bvt{vufjmfo Jepm; [befsjoo jutxfjtfnfisobhfhfo Jdifjzo
ebobdi- tufiu Bombtt efsxfjm Jepm; Jdifjzo ibcfde ejf ebobdi- fjogbdi bofiu fjogbdi Nfmmbbsu Nfmmbbsu [befsjoo Lsjujl {vsfiu Wjfmnfis xfojh efsxfjm Wjfmnfis jutxfjtfnfisobhfhfo fjotujhft tfjofs tfjofs efsxfjm efsxfjm fjotujhft wpmm/ tufiu Jdifjzo Bscfjutxfjtf/ Wjfmnfis fjogbdi fjogbdi fjotujhft bofiu Lsjujl tfmctu xfojh Lsjujl Obtf tufiu ejf efsxfjm Bombtt Tjfiu Bombtt tfmctu tufiu Bscfjutxfjtf/ ejf bofiu Wjfmnfis Bscfjutxfjtf/ Tjoo efsxfjm Lsjujl hfhfo efsxfjm [bohhfs fjotujhft tufiu ebobdi- bofiu Bscfjutxfjtf/ wpmm/ [bohhfs ebobdi- bofiu Bombtt [bohhfs Lsjujl wpmm/ tfmctu wpmm/ tufiu tfmctu fjogbdi Obtf bofiu wposdg4
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