Thank you, Mr. Chair.
I would like to thank you for your presentations. The subject is very interesting but quite complex.
My first question is for Mr. Saint-Amans.
In your presentation, you mentioned that a key issue in tax avoidance, tax evasion and tax havens was the question of transparency. But when measures like the Foreign Account Tax Compliance Act or even other automatic mechanisms for information exchange are mentioned, people complain because they say it is an invasion of privacy.
Where do you think we should draw the line between the need for transparency and the need to protect privacy?