No. 3 is an interesting item, namely, the European Commission White Paper on the integration of EU mortgage credit markets. This is a topical issue and will remain topical for some time. A copy of the White Paper is before the committee. The White Paper presents a package of measures to improve the efficiency and competitiveness of the EU residential mortgage markets. Its objectives are as follows: facilitate the cross-border supply and funding of mortgage credit; increase product diversity; improve consumer confidence; and facilitate customer mobility. The White Paper has resulted from the Commission's detailed review of the Single Market. It is proposed that the joint committee consider the White Paper further with a view to offering its views to the Commission and the Minister. In order to assist this consideration it is proposed that the joint committee invite a representative of the European Commission to brief the committee in detail on the content of the White Paper and to answer any specific questions. It is also proposed that the committee write to key stakeholders inviting them to forward their assessment of the White Paper.
Before I go on, members may wish to comment. In the times in which we live if we are not interested in this issue we are seriously remiss. I do not propose to have a long debate on the matter today. We will seek submissions from the stakeholders and will produce a report for the Minister and the Commission reflecting the concerns and the combined wisdom of the membership arising from experiences over the years.