Mr. Pierre Moscovici:

I will not make any further comment on the housing issue as I answered a question on that issue when replying to Senator Hayden.

On tax arrangements with Apple, as announced at the start of the new Commission, the fight against tax evasion and tax avoidance is one of the Commission's key priorities, and one of mine. The investigation into the tax ruling practice of member states under state aid rules is just one of the examples of how the Commission wants to tackle this problem. To be clear, we have no problem with tax rulings as such. I have been a finance Minister for two years and I know how important it is for a company, which for example would like to invest in France, to have the possibility being capable of anticipating the taxes it will pay in a country. There are no problems as long as it does not provide a selective advantage to specific undertakings. However, as the Deputy knows, in the case of Apple, the Commission has started an in-depth investigation because it suspects that such an advantage has been granted.

While it is too early to speculate about the concrete outcome, my colleague, the Commissioner for Competition, Ms Vestager, set the highest priority on closing the four cases. Those decisions have to meet the highest quality requirement and therefore the Commissioner does not favour, at this stage, a fixed deadline. It is clearly in her portfolio and I would repeat that she has to answer that when the time comes. Then we will take our own responsibility. As the member knows, I have myself presented a proposal for a directive on automatic exchange on tax rulings with the philosophy I just gave a minute ago.

On sustainable solutions for non-performing loans, NPLs, we are aware of issues. Our position has been outlined several times and on various occasions. NPLs remain very high and it is a clear sign that solutions are not forthcoming. Authorities are fully aware of this and our CSR is really insisting a lot on all the points mentioned - all of them.