www.course1000.com

learning basic economics and finance

VP

     

 

 

 

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Eine neue Methode, mit der Sie schnell die Grundbegriffe aus der Welt der Wirtschaft und der Finanzen kennenlernen und verstehen werden. Wohlgemerkt: die Grundbegriffe, nicht mehr und nicht weniger. 

Sie werden in der Lage sein, sich problemlos mit Bankern und Finanzfachleuten zu unterhalten. Sie werden endlich Spaß daran haben, die täglichen Wirtschafts- und Börsennachrichten zu verfolgen. Sie werden herausfinden, wo sie relevante Informationen finden und Sie werden mit Freude feststellen, wie schnell Sie Fortschritte machen.

 

   

 

Es gibt zwei Wege, sich diesen neuen Themen, Wirtschaft und Finanzen, anzunähern: Der erste Weg  ist, was wir den Blick von oben nennen könnten: sich einen Überblick zu verschaffen, um den Zusammenhang zwischen den vielen einzelnen Ereignissen zu erkennen. Der zweite Weg ist die Annäherung an ausgewählte Ereignisse. 

MEHR

 

 

Das ist das Prinzip der Smartwolff-Methode: Die Makro-Ökonomie mit der Mikro-Ökonomie zu verbinden. 

 

  

Lassen Sie uns mit einem kleinen Ratespiel beginnen: 

Die Abbildung unten zeigt drei Bilanzen. Genau gesagt, nur jeweils deren Aktivseite. 

 
 
Um welchen Typ Unternehmen handelt es sich bei A, B und C?
 
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Das mag kompliziert erscheinen, ist aber in Wahrheit ganz einfach. Die Kenntnis einiger weniger Grundbegriffe genügt, um diese Abbildung zu verstehen.

 

Die gute Nachricht: Sie brauchen maximal eine Stunde, um die Logik einer Bilanz zu verstehen. Spezialkenntnisse sind nicht erforderlich. Für Menschen, die mit der Materie nicht vertraut sind, ist es daher sehr motivierend zu erfahren, dass sie auf derart einfache Weise das Geheimnis der nur scheinbar so komplexen Finanzwelt entschlüsseln können. 

 

 
 PUBLIÉ 1.jpg
 
 

GRUNDLEGENDE KONZEPTE

 

FINANCE BANKING MARKETS

DEVINER UN BILAN

000 B 1.jpg

basic2.jpg

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WIE ES FUNKTIONIERT

 

KREDITE STOCK EXCHANGE ECONOMICS

00 billets (12).jpg 

WIE MAN MIT BANKEN

VERHANDELT

 

BÖRSE EINGANG:

DIE VORTEILE 

 

QUANTITATIVE EASING

DER EZB

  

 

WICHTIGE  BZW. AKTUELLE THEMEN

EZB WALL STREET €URO

Negative Zinsen,
quantitative easing

@taux négatifs.jpg

 Subprimes,

shadow banking

Die Stärke der €euro,

eurobonds

 

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Ft.jpg BUY.jpg

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MAJ

sept 2020

<p>&nbsp;<span style="text-align: center;">&nbsp;&nbsp;</span><span style="color: #666699;">&nbsp;&nbsp;<br /></span></p><p>&nbsp;</p><p>&nbsp;</p><p><span style="background-color: #ffff00;">&nbsp;</span></p><p><marquee onmouseover="this.stop()" onmouseout="this.start()" direction="right" behavior="alternate" scrollamount="2">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8993280_202105103154580.jpg" alt="3b.jpg" width="135" height="23" /> <span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">&nbsp; <em>easy&nbsp;learning</em></span></marquee></p><p>&nbsp;</p><p><img width="750" height="96" src="https://static.blog4ever.com/2011/11/554516/artfichier_554516_1588859_201212220052301.jpg" style="display: block; margin-left: auto; margin-right: auto;" /></p><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><table border="0" cellpadding="10" style="border-color: #bebfb0; border-width: 0px; background-color: #fbfcdc; width: 85%; border-style: solid;" align="center"><tbody><tr><td style="width: 100%; text-align: justify; border-color: #959768; border-style: solid; border-width: 1px;"><span style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;">A new method ...to learn quickly the basics of today's economics and finance. The basics, no more no less. Enough to be able to discuss easily with bankers and finance people. Enough to enjoy following daily news, to know where to find information, and feel the pleasure of progress !&nbsp;</span></td></tr></tbody></table><p><span style="font-size: small;">&nbsp;&nbsp;</span></p><p>&nbsp;</p><table border="0" cellpadding="10" style="border-color: #bebfb0; border-width: 0px; background-color: #fbfcdc; width: 85%; border-style: solid;" align="center"><tbody><tr><td style="width: 100%; text-align: justify; border-color: #959768; border-style: solid; border-width: 1px;"><p><span style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;">Eine neue Methode,.... um die Basis der aktuellen Wirtschafts- und Finanzwesen zu lernen.&nbsp; Die Basiskenntnisse, nicht mehr, nicht weniger....</span></p><p>&nbsp;</p><p>&nbsp;</p></td></tr></tbody></table><p><span style="font-size: small;">&nbsp;&nbsp;</span></p><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><table cellpadding="10" align="center" style="width: 85%;"><tbody><tr><td><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;"><span color="#666699" face="arial, helvetica, sans-serif" size="2">There are two levels of approach for these new topics,&nbsp; economics and finance. There is first, what we might call the "vision</span><span color="#666699" face="arial, helvetica, sans-serif" size="2">&nbsp;from above," a broad view of events, how they are linked together, the general principles. And then we have the close approach, a selected close approach. </span></span></p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;"><span color="#666699" face="arial, helvetica, sans-serif" size="2" style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;">Same thing if we were about to discover a new big city. The best way would be to start with a helicopter view. Seeing things from above allows to see shapes, connections, limits, major monuments. And then ideally, telling the pilot "I want to see this or that ptrecisely, let descend and take a closer look. </span></p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;"><span color="#666699" face="arial, helvetica, sans-serif" size="2" style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;">This is the principle of the <span style="color: #993366;"><strong>SMARTWOLF</strong></span> method.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">&nbsp;</span></p></td></tr></tbody></table><div style="text-align: center;">&nbsp;</div><p>&nbsp;</p><p>&nbsp;</p><table cellpadding="10" align="center" style="width: 85%;"><tbody><tr><td><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;"><span color="#666699" face="arial, helvetica, sans-serif" size="2">There are two levels of approach for these new topics,&nbsp; economics and finance. There is first, what we might call the "vision</span><span color="#666699" face="arial, helvetica, sans-serif" size="2">&nbsp;from above," a broad view of events, how they are linked together, the general principles. And then we have the close approach, a selected close approach. </span></span></p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;"><span color="#666699" face="arial, helvetica, sans-serif" size="2" style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;">Same thing if we were about to discover a new big city. The best way would be to start with a helicopter view. Seeing things from above allows to see shapes, connections, limits, major monuments. And then ideally, telling the pilot "I want to see this or that precisely, let descend and take a closer look. </span></p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;"><span color="#666699" face="arial, helvetica, sans-serif" size="2" style="font-family: arial, helvetica, sans-serif; font-size: medium; color: #666699;">This is the principle of the<span style="color: #993366;"> <strong>SPARWOLFF</strong></span>&nbsp;method: mixing macro and micro economics.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">&nbsp;</span></p></td></tr></tbody></table><div style="text-align: center;">&nbsp;</div><table border="0" cellpadding="10" style="border-color: #bebfb0; border-width: 0px; background-color: #fbfcdc; width: 85%; border-style: solid;" align="center"><tbody><tr><td><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">Let's start mit einem Test / Devinette. </span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">The picture below represents 3 balance sheets. In fact the assets side only. </span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">&nbsp;</span></p></td></tr></tbody></table><div style="text-align: center;">&nbsp;</div><div style="text-align: center;">&nbsp;</div><div style="text-align: center;"><span style="color: #993366;"><strong><span style="font-family: arial, helvetica, sans-serif; font-size: medium;">Was f&uuml;r Unternehmen sind A, B und C</span></strong></span>&nbsp;</div><div style="text-align: center;"><a class="zoomable" href="https://static.blog4ever.com/2015/01/793700/big_artfichier_793700_8987852_202105082746617.jpg"><img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8987852_202105082746617.jpg" alt="#6.jpg" /></a></div><div style="text-align: center;">&nbsp;</div><div style="text-align: center;">&nbsp;</div><div style="text-align: center;">&nbsp;</div><table cellpadding="10" align="center" style="width: 85%;"><tbody><tr><td><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">This may look complex, but it is not. Surprisingly enough, a few basic notions allow the easy understanding of&nbsp; this picture. </span></p><p style="text-align: justify;"><span style="font-family: 'HelveticaNeueLT Com 65 Md', Arial, Helvetica, sans-serif;">&nbsp;</span></p><p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: arial, helvetica, sans-serif; color: #666699;">The <strong>good news</strong>&nbsp;are that no more than one hour is needed to understand the logics of the <em>sbalance sheet,</em>. No specific knowledge is required. It is thus particularly motivating&nbsp; for non-finance people to be able to break the wall&nbsp; of the finance world and its alleged complexity.&nbsp;&nbsp;</span>&nbsp;</span></p></td></tr></tbody></table><div><span style="font-size: small;">&nbsp;</span></div><div><span style="font-size: small;">&nbsp;</span></div><div style="text-align: center;"><span style="font-size: small;"><a class="zoomable" href="https://static.blog4ever.com/2015/01/793700/big_artfichier_793700_8987855_202105083434727.jpg"><img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8987855_202105083434727.jpg" alt="PUBLI&Eacute; 1.jpg" width="594" height="1233" /></a><br /></span></div><div style="text-align: left;"><span style="font-family: 'arial black', 'avant garde'; color: #993366; font-size: large; background-color: #ffff00;">&nbsp;</span></div><div><span style="font-size: small;">&nbsp;</span></div><p style="padding-left: 90px;"><strong><span style="font-family: 'arial black', 'avant garde'; font-size: medium; color: #993366; background-color: #ffffff;"><span style="font-family: arial, helvetica, sans-serif;">GRUNDLEGENDE KONZEPTE</span></span></strong></p><p style="padding-left: 90px;">&nbsp;</p><table align="center" style="border: 1px solid #ffffff; width: 85%; border-spacing: 10px;" border="1" cellspacing="10"><tbody><tr><td style="border: 1px solid #b3af93; height: 10px; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d; font-family: arial, helvetica, sans-serif;"><strong><span color="#477db7">FINANCE</span></strong></span></td><td style="border: 1px solid #b3af93; height: 10px; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d;"><strong><span style="font-family: arial,helvetica,sans-serif;"><span style="font-family: arial,helvetica,sans-serif;"><strong><span color="#477db7">BANKING</span></strong></span></span></strong></span></td><td style="border: 1px solid #b3af93; height: 10px; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d;"><strong><span style="font-family: arial,helvetica,sans-serif;"><span style="font-family: arial,helvetica,sans-serif;"><strong><span color="#477db7">MARKETS</span></strong></span></span></strong></span></td></tr><tr><td style="border: 1px solid #cbcbb8; width: 160px; height: 160px; background-color: #e0e7ea;" valign="middle" align="center"><p style="text-align: center;"><span style="color: #993366;"><strong><span style="font-family: arial, helvetica, sans-serif; font-size: large;">DEVINER UN BILAN</span></strong></span></p><p style="text-align: center;"><span style="color: #993366;"><strong><span style="font-family: arial, helvetica, sans-serif; font-size: large;"><a href="https://www.course1000.com/deviner" target="_blank"> <img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8987858_202105084010240.jpg" alt="000 B 1.jpg" width="135" height="139" /></a><br /></span></strong></span></p></td><td style="border: 1px solid #cbcbb8; width: 160px; height: 160px; background-color: #e0e7ea;" valign="middle" align="center"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/lb" target="_blank"><img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8090604_201902064631192.jpg" alt="basic2.jpg" width="180" height="180" title="clic to access" /> </a></span></p></td><td style="border: 1px solid #cbcbb8; width: 160px; height: 160px; background-color: #e0e7ea;" valign="middle" align="center"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/market" target="_blank"> <img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8090605_201902064644376.jpg" alt="basic3.jpg" width="180" height="180" title="clic to access" /> </a></span></p></td></tr></tbody></table><p><span style="font-size: small;">&nbsp;&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p style="padding-left: 90px;"><strong><span style="font-family: arial, helvetica, sans-serif; font-size: medium;"><span color="#993366" face="arial, helvetica, sans-serif" size="2" style="color: #993366; font-family: arial, helvetica, sans-serif; font-size: small;">WIE ES FUNKTIONIERT</span></span></strong></p><p style="padding-left: 90px;">&nbsp;</p><table align="center" style="width: 85%; border-spacing: 10px;" border="0" cellspacing="10" cellpadding="5"><tbody><tr><td style="border: 1px solid #b3af93; height: 10px; text-align: center; background-color: #29578d;"><span style="font-size: small; color: #ffffff;"><strong><span style="font-family: arial, helvetica, sans-serif;">KREDITE</span></strong></span></td><td style="border: 1px solid #b3af93; height: 10px; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d;"><strong><span style="font-family: arial,helvetica,sans-serif;"><span style="font-family: arial,helvetica,sans-serif;"><strong><span color="#477db7">STOCK EXCHANGE</span></strong></span></span></strong></span></td><td style="border: 1px solid #b3af93; height: 10px; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d;"><strong><span style="font-family: arial,helvetica,sans-serif;"><span style="font-family: arial,helvetica,sans-serif;"><strong><span color="#477db7">ECONOMICS</span></strong></span></span></strong></span></td></tr><tr><td style="border: 1px solid #cbcbb8; width: 160px; height: 160px; background-color: #e0e7ea;"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/neg" target="_blank"> <img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_5552357_201603184554661.jpg" alt="00 billets (12).jpg" width="154" height="102" title="clic sur image" /></a><span style="text-align: inherit;">&nbsp;</span></span></p><p style="text-align: center;"><span style="font-size: small;"><span style="color: #666699;"><strong>WIE MAN MIT BANKEN</strong></span></span></p><p style="text-align: center;"><span style="font-size: small;"><span style="color: #666699;"><strong>VERHANDELT</strong></span></span></p></td><td style="border: 1px solid #cbcbb8; width: 160px; height: 160px; background-color: #e0e7ea;"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/f" target="_blank"> <img width="154" height="102" title="clic sur image" src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_5524411_201603062251896.png" /></a><span style="text-align: inherit;">&nbsp;</span></span></p><p style="text-align: center; color: #808080;"><span style="font-size: small;"><span style="color: #333333;"><strong></strong></span><strong style="color: #333333;"><span style="color: #993366;">B&Ouml;RSE EINGANG: </span></strong></span></p><p style="text-align: center; color: #808080;"><span style="font-size: small;"><strong style="color: #333333;"><span style="color: #993366;">DIE VORTEILE</span></strong></span><span style="font-size: small;"><span style="color: #666699;"><em><strong>&nbsp;</strong></em></span></span></p></td><td style="border: 1px solid #cbcbb8; width: 160px; height: 160px; background-color: #e0e7ea;"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/ec2" target="_blank"> <img width="154" height="102" title="clic sur image" src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_5413199_201601145959192.jpg" /></a><span style="text-align: inherit;">&nbsp;</span></span></p><p style="text-align: center;"><span color="#666699" size="2" style="color: #666699; font-size: small;"><b>QUANTITATIVE EASING</b></span></p><p style="text-align: center;"><span color="#666699" size="2" style="color: #666699; font-size: small;"><b>DER EZB</b></span></p></td></tr></tbody></table><div id="actu"><span style="font-size: small;">&nbsp;</span><n2m9qs style="color: #71800b;">&nbsp;</n2m9qs></div><p><span style="font-size: small;">&nbsp;</span></p><p style="padding-left: 90px;"><span style="font-size: medium;"><strong><span style="font-family: arial, helvetica, sans-serif; color: #993366;">WICHTIGE&nbsp; BZW. AKTUELLE THEMEN</span></strong></span></p><table align="center" style="border: 1px solid #ffffff; width: 85%; border-spacing: 10px;" border="1" cellspacing="10" cellpadding="5"><tbody><tr><td style="border: 1px solid #b5b191; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d;"><strong><span style="font-family: arial,helvetica,sans-serif;"><span style="font-family: arial,helvetica,sans-serif;"><strong><span color="#477db7">EZB</span></strong></span></span></strong></span></td><td style="border: 1px solid #b5b191; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d;"><strong><span style="font-family: arial,helvetica,sans-serif;"><span style="font-family: arial,helvetica,sans-serif;"><strong><span color="#477db7">WALL STREET</span></strong></span></span></strong></span></td><td style="border: 1px solid #b5b191; text-align: center; background-color: #29578d;"><span style="color: #ffffff; font-size: small; background-color: #29578d;"><strong><span style="font-family: arial,helvetica,sans-serif;"><span style="font-family: arial,helvetica,sans-serif;"><strong><span color="#477db7">&euro;URO</span></strong></span></span></strong></span></td></tr><tr><td style="border: 1px solid #ffffff; width: 33%; background-color: #f5c0cf;"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/x" target="_blank"><img width="154" height="102" title="clic sur image" src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_5524405_201603062016241.jpg" /></a></span></p><p style="text-align: center;"><span style="font-size: small;"><strong><span style="color: #333333;">Negative Zinsen,<br /><span style="color: #993366;"><em>quantitative easing</em></span></span></strong></span></p></td><td style="border: 1px solid #ffffff; width: 33%; background-color: #f5c0cf;"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/sub" target="-blank"><img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_5552372_201603180626236.jpg" title="clic sur image" alt="@taux n&eacute;gatifs.jpg" width="154" height="102" /></a></span></p><p style="text-align: center;"><span style="font-size: small;"><strong>&nbsp;<span style="color: #993366;">Subprimes,</span></strong></span></p><p style="text-align: center;"><span style="color: #333333; font-size: small;"><strong>shadow banking</strong></span></p></td><td style="border: 1px solid #ffffff; width: 33%; background-color: #f5c0cf;"><p style="text-align: center;"><span style="font-size: small;"><a href="https://www.course1000.com/e" target="_blank"> <img width="154" height="102" title="clic sur image" src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_5413186_201601144837408.jpg" /></a></span></p><p style="text-align: center; color: #333333;"><span style="font-size: small;"><strong style="color: #000000;"><strong><span style="color: #993366;">Die St&auml;rke der &euro;euro,</span></strong></strong></span></p><p style="text-align: center; color: #333333;"><span style="font-size: small;"><strong>eurobonds</strong></span></p></td></tr></tbody></table><p>&nbsp;</p><p><marquee onmouseover="this.stop()" onmouseout="this.start()" direction="right" behavior="alternate" scrollamount="2">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8993280_202105103154580.jpg" alt="3b.jpg" width="135" height="23" /> <span style="font-family: arial, helvetica, sans-serif; font-size: small; color: #666699;">&nbsp; <em>easy&nbsp;learning</em></span></marquee></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><table border="0" align="center" style="width: 100%;"><tbody><tr valign="top"><td style="width: 50%;"><span style="font-size: small;"><a href="#TOP"> <img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8090681_201902060941488.jpg" alt="Ft.jpg" width="74" height="80" style="float: right;" /> </a></span></td><td style="width: 50%;"><span style="font-size: small;"><a href="https://www.course1000.com/buy" target="_blank"><img src="https://static.blog4ever.com/2015/01/793700/artfichier_793700_8090997_201902062209416.jpg" alt="BUY.jpg" width="173" height="119" style="display: block; margin-left: auto; margin-right: auto;" title="clic to access" /></a></span></td></tr></tbody></table><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">&nbsp;</span></p><p><span style="font-size: small;">MAJ</span></p><p><span style="font-size: small;">sept 2020</span></p>



11/05/2021