Reilly highlights the growing emphasis on entrepreneurship education and the increasing volume of the call to develop entrepreneurial competences for all graduates: first, second and third cycles. While the tone and phrasing of the Bologna communications is measured and calm, there is a sense that Ministers and their advisers are desperate to find a solution to their current economic and consequent political and social woes and, in doing so, are losing sight of both the limits to what higher-educational institutions may be able to achieve without increased resources and, more fundamentally, the imperative to ensure a higher level of achievement in core subject and generic competences, without which entrepreneurism education would be hollow and have an "emperor's clothes' quality. Reilly explores these issues and challenges in this chapter.