Item No. 2 is the European Commission White Paper on the integration of EU mortgage credit markets — contribution to the European Commission. We have gone through and considered the reports, made submissions and received submissions from the various financial representatives. I thank all those who have contributed. The joint committee should now consider issuing a contribution to the European Commission under the Barroso initiative. The draft contribution before us which encapsulates the committee's view and includes the concerns and views of the witnesses who appeared before it, where appropriate, generally supports the White Paper's objective to further enhance the competitiveness and efficiency of the residential mortgage market in Europe and make specific recommendations, including recommendations on consumer protection, early repayment, land registration and responsible lending. There are many issues on which I presume we are all now experts. Certainly, all of the institutions worldwide will become experts on them as time passes. Is it agreed that the contribution be forwarded to the European Commission? Agreed. Is it agreed that the report on the committee's consideration of this matter and appendices be laid before both Houses of the Oireachtas? Agreed.
No. 3 is the Commission's Green Paper on future relations between the EU and overseas countries and territories, OCTs. The purpose of the Green Paper is to consult and obtain input from interested parties on the new partnership between the EU and overseas countries and territories. These are non-European countries and territories that depend constitutionally on four of the EU's member states, namely, Denmark, France, the Netherlands and the UK. They are Greenland, French Polynesia, Netherlands Antilles and the Falkland Islands.
The citizens of these territories are all EU citizens. These countries do not form part of the community's territory. The partnership between the EU and these OCTs seeks to promote their economic and social development and establish close economic relations between them and the community as a whole. The Commission wishes to consider substantial revision of the OCT-EC association with the intention of examining how to move away from the classic development co-operation approach. The first step in this review is the launch by this Green Paper of a global discussion on future relations between the EU and the OCTs. This public consultation process will end on 17 October 2008. While the launch of this process will have some limited impact on the European Development Fund which is of interest to Ireland, as a country with no OCTs there are no particular implications for Ireland. It is proposed, therefore, to note this document. Is that agreed? Agreed.
No. 4 relates to the Commission's Green Paper on copyright in the knowledge economy, COM (2008) 466. The purpose of this Green Paper is to foster debate on how knowledge, research, science and education can best be distributed on-line while striking a balance with the need to ensure a reward for intellectual creation. This is fairly technical. It is not part of the knowledge-based economy. It essentially relates to regulation and technicalities.
The Commission's interest in this area is to ensure the proper functioning of the Single Market in respect of the knowledge. The Green Paper highlights the need to promote free movement of knowledge and innovation. The Green Paper looks at the existing directive in this area and poses questions such as whether a fair balance of rights and interests has been achieved between rights holders and users and if this is still in line with the rapidly changing environment. Through the Green Paper, the Commission seeks the views of all stakeholders regarding the issues raised and whether the current legal framework needs to be amended, targeting the practitioners and the operators within the sector and raises issues that are technical. It is proposed that the Green Paper does not warrant further in-depth consideration by this committee but that it be noted and forwarded together with the Department's information note to the Joint Committee on Enterprise Trade and Employment, being a more appropriate committee. Is that agreed?