This paper provides a critical analysis of the EU's "Memorandum on lifelong learning" in light of the evolution of the concepts of lifelong education and lifelong learning from the late sixties onward. It also analyses this document in light of the forces of globalisation that impinge on educational policy-making in Europe as well as the all-pervasive neo-liberal ideology. The paper moves from theory to practice to provide critical considerations concerning certain "on the ground" projects being presented as "best practice" in EU documents. It brings out the neo-liberal tenets that underlie much of the thinking and rationale for these projects, and indicates, in the process, how much of the old UNESCO discourse of lifelong education has been distorted to accommodate capitalism's contemporary needs. An alternative conception of lifelong learning is called for. (Contains 13 notes.)