This EPI Policy Perspectives covers a presentation given at the European University Association Annual Convention (March 20, 2009, in Prague, Czech Republic) that addresses the Bologna process in the European Union. The process raised many questions regarding the role of the university, and the entire tertiary/postsecondary system of education. The issues being discussed in the EU are not only pertinent in the European arena, but are living issues being debated around the world. Three questions of note were addressed by Watson Swail in his presentation: (1) What is the purpose of the university?; (2) What role does research play?; and (3) How does the institution interact with community and contribute to the local, regional, and global economy and society?