Of course, there is another problem hovering in the background in respect to the Euro's international role: namely that of the enlargement of the EU. In the light of the analysis so far two areas are picked out here: monetary implications and fiscal policy implications. These are obviously closely related. Both of these raise questions about the costs involved for the new members and those set to join somewhere down the line. We concentrate on the monetary issue of joining the Euro-zone first and then go on to look at fiscal issues.