On 9 November 1989 the Berlin Wall fell, taking world leaders by surprise and bringing an end to the Cold War. A policy window was opened leading to the redefinition of development co-operation in Europe and internationally. A self-confident and assertive European Union, searching for its ambition, seized the opportunity to emerge from these events as a global player. This study looks at the history and evolution of EU development co-operation policy, the factors that triggered the change and the forces that influenced the direction of that change. It examines current issues in EU development co-operation policy to answer the important question of where the EU is headed in the future, and when this policy window will close for a new chapter in EU external relations history to open.