In this article, we use the basic concepts of Dewey’s pedagogical philosophy on democracy and education as analytical tools for exploring the democratic potential of a transnational education policy within the contemporary European risk discourse. A Deweyan reading of main policy documents, starting with the 2000 Lisbon Strategy, allows for critical discussion of some of the basic assumptions and consequences of the EU-advocated transnational education policy. The data sources include 28 EU policy documents from 2000 to 2014. The analysis shows that in addition to a prevailing “human capital” discourse, there is potential for a communicative “democratic discourse” that promotes social cohesion. The democratic discourse underlines the full and free communication between different groups as the only way to promote and ensure the conditions for social cohesion. In this crisis of nearby wars, terror attacks and refugees in Europe, economy and competition are not viable concepts for seeking solutions. We argue that a shift to a language adapted to the real crisis and the fear of future crises in Europe is needed. We argue that a language that understands social efficiency, communication and a moral interest in the way Dewey outlined the concepts in Democracy and Education corresponds to the strong need to maintain and strengthen a democratic education and a democratic way of living for all.