After initial scepticism at Westminster, the view now seems to be that e-journalism is here to stay and these bloggers should have passes, even though the print journalists take a broadly sniffy attitude to the likes of the Mole, while being happy enough to follow his lead.
Back to the green paper. It is likely it will make it easier for people to sue for libel by slashing the disproportionate costs of legal action, possibly by establishing a small claims court for libel.
More on small claims libel cases and a possible "blogger clamp down" here. From The Mole.