Financial stringency and neo-liberal influences in higher education are impacting upon relationships and academic values in higher education. The aim of the present paper was to analyse how these forces operate differentially in the UK and Germany. The British students were significantly more satisfied than were their German counterparts with the intellectual and personal relationships that they had with their university teachers; this could, however, be attributed more to country-specific factors, predating marketization, than to the effects of globalisation. Students in both countries clamoured for more practical experience during their university courses; but a number of UK students and almost half the UK staff thought that that insufficient justice was being done to theory in the HE programmes. Though "the market" might be assumed conducive to efficiency, the British respondents (both staff and students) were especially dissatisfied with organisational aspects of their institutions. Many of the German staff believed that the old order of the university as they had known it was passing away and this awareness was painful to them.