The Bologna process has been described by Floud (2005) as being the single biggest change in higher education in Europe since the foundation of the University of Bologna in the eleventh century. Debate about this process continues between an Anglo-Saxon and a continental European tradition, one decidedly more entrepreneurial and market-driven, the other much more interventionist and socially inclusive. This paper will first question whether these critics should be allowed to continue to represent the mainstream voice of UK higher education. It will go on to summarize the Bologna process to date (its architecture and current implementation), examine the challenges posed to the UK system and the current UK response and finally take account of the interface between European and global systems. It will be seen that the British higher education establishment is currently in a unique position to shape the whole process to its own advantage, acting as bridge between the two differing traditions, and that to take high-minded or semi-detached views would be extremely irresponsible.