This chapter therefore aims to interpret the current reforms and to identify a number of hypotheses concerning the shifts that they may introduce into France's model of continuing vocational education and training. The first part will consider the general framework within which these reforms are taking place, particularly from the perspective of the debate about employment ‘risk'. The chapter will then move on to an outline of the letter and spirit of the 2003 national agreement and the 2004 legislation and of the main institutional changes that preceded them. The third part of the chapter will analyse the shifts that the new framework has imposed on the concept of continuing vocational education and training, concluding with an outline of different scenarios for future development.