Proposing an alternative to the American model, intergovernmental reform initiatives in Europe have developed and promote a comprehensive European model of skill formation. What ideals, standards, and governance are proposed in this new pan-European model? This model responds to heightened global competition among "knowledge societies" as it challenges national systems to improve. The authors thus compare this emergent European model with the historically influential models of Germany, France, Great Britain, and the United States. To what extent does the European model resemble these traditionally influential national models? The authors report findings of a theory-guided content analysis of official European policy documents in higher education and vocational training from 1998 to 2010. They find that while the European model is a bricolage that integrates diverse characteristics of influential models, the ambitious goals and standards codified in the twin Bologna and Copenhagen processes in higher education and vocational training offer a new model to compete internationally. Dozens of countries now seek to implement these principles. This comparative analysis finds different visions for the future of skill formation on both sides of the Atlantic. (Contains 4 notes, 1 table, and 3 figures.)