31.  British bonds will also remain attractive as a hedge against potential turmoil in Europe as much of the continent moves toward a common currency.

32.  But a common currency does not mean Europe will be a common state.

33.  Bundesbank council member Ernst Welteke said it is more likely that a European common currency will start with rates closer to German levels.

34.  Bundesbank council member Hans-Juergen Krupp said German industry will benefit if the deutsche mark falls in value before it is merged into a common European currency.

35.  Bundesbank President Hans Tietmeyer and Pete Domenici, chairman of the U.S. Senate Budget Committee, will make a statement on the future of the European common currency tomorrow.

36.  Bundesbank President Hans Tietmeyer and several other council members have said short-term rates in countries joining a common currency will converge near low French and German levels.

37.  But at the moment, it would be wise for all of us to reduce our borrowing and our dependence on plastic as our common currency.

38.  But both battles are really about the serious tensions that have erupted between the United States and a Europe newly unified by a common currency.

39.  But another devaluation in Brazil would cause havoc, leading Calvo to suggest it may be time for Brazil and Argentina to consider a common currency.

40.  But even Blair tends to shade his enthusiasm for the common currency, and latent divisions in his party could emerge if it comes to power.