This paper provides a critical exposition of the six key messages of the EU Memorandum on Lifelong Learning introduced in 2001. It concludes that the memorandum is to be seen against against an economic backdrop characterised by a market-oriented definition of social viability. As educational change is becoming increasingly linked to the discourse of efficiency, competitiveness, cost effectiveness and accountability, socio-economic inequalities and corresponding asymmetrical relations of power continue to intensify. In general, the Memorandum is found wanting in its analysis of the effects of neo-liberal, socio-economic policies on educational change.peer-reviewe