Bologna - is the UK missing out?

In 1999, the UK's HE minister, Baroness Blackstone, met her counterparts from 28 other European countries in Bologna where they all agreed that by 2010 they would establish a European Higher Education Area by '. adopting a system of comparable degrees . [and the] . establishment of a system of credits - such as ECTS [European Credit Transfer System]'.  

Later this month, the now 45 signatories to the Bologna declaration will meet in London to review progress. But can the UK's representatives, Bill Rammell (MP) and Universities UK president Drummond Bone, be confident of the UK's contribution so far and its commitment to the tasks ahead?