The so-called Bologna-Process that aims to unify European higher education (and European does not only include the EU but 46 countries from all over the continent) has so far produced an impressive unity in similar problems through a variety of very dissimilar concepts. Labelling them Bachelor or Master is more a marketing strategy than a real innovation.
In this context, the very much appreciated EUobserver today has published several articles under the headline "European Education". I recommend reading!
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