Milestones, features, and tools of development of European Higher Education Area at the beginning of the third millennium are mentioned. The paper sharps its attention to significance and the structure of ECTS (European Credit Transfer and Accumulation System) and DS (Diploma Supplement), and the way they are to be used for quality assurance of internationalization of European educational and labor space. The substantial role at the implementation of so called Post-Bologna process plays the European University Association.