Blogging the London Film Festival: the highlights

Ten to watch, as recommended by us

The 53rd London Film Festival begins on 14 October. Among the hundred-plus films drawn from around the world are the latest Coen brothers comedy, a biopic of the poet John Keats and not one, but two, films starring George Clooney. Over the coming weeks, the NS culture team will bravely attend as many screenings as possible and blog about it here. In the meantime, here is our pick of ten highlights to whet your appetite:

Fantastic Mr Fox (dir: Wes Anderson)

Anderson, director of quirky comedies such as The Royal Tenenbaums, makes his first foray into animation with this adaptation of Roald Dahl's classic children's story.

The White Ribbon (dir: Michael Haneke)

The Austrian-born Haneke has long been known for his punishing films, but his last, Funny Games, proved a little too much for our own Ryan Gilbey. Will this tale of malice and spite in early-20th-century Germany fare any better?

Bluebeard (dir: Catherine Breillat)

Famously retold by Angela Carter in her story collection The Bloody Chamber, this fairy tale gets a low-budget treatment from the provocative Breillat.

Tales from the Golden Age (dir: Cristian Mungiu)

The 20th anniversary of the fall of communism is being marked by various arts projects. Here, the acclaimed Romanian director Mungiu presents a series of vignettes of life under Ceausescu. You can read the NS review of his previous film, 4 Months, 3 Weeks and 2 Days, here.

Oil City Confidental (dir: Julien Temple)

After giving us documentaries on the Sex Pistols and the Glastonbury Festival, Temple turns his attention to Britain's much-maligned pub rock scene.

She, a Chinese (dir: Xiaolu Guo)

Guo is better known for her novels (the most recent of which we reviewed here), but she is also an accomplished film-maker. She, a Chinese tells the story of a young immigrant in Britain and features a score by John Parish, the PJ Harvey collaborator.

Hadewijch (dir: Bruno Dumont)

With a visual style that has more in common with the painters of his native Flanders than any of his contemporaries, Dumont cuts something of an outsider figure in French cinema. Hadewijch is tipped to be his best work yet -- while you wait for it, read this 2007 NS interview with the director.

Journey to the Moon (dir: Kutluğ Ataman)

Ataman, who was nominated for the Turner Prize in 2004, may be better known to NS readers as a video artist -- Fisun Güner wrote about him in April. Journey to the Moon reconstructs an incident from 1950s Turkey.

Perestroika (dir: Sarah Turner)

Structured around a journey on the Trans-Siberian Express, this exploration of amnesia is a promising highlight of the festival's experimental film strand.

Bad Lieutenant: Port of Call New Orleans (dir: Werner Herzog)

Herzog, the visionary German director who has been making films since the 1960s, is enjoying a late surge in popularity. This remake of a 1992 Abel Ferrara crime drama, starring Nicholas Cage, is a departure from his recent run of documentaries. You can read our Q+A with the director here.

Daniel Trilling is the Editor of New Humanist magazine. He was formerly an Assistant Editor at the New Statesman.

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Leader: The unresolved Eurozone crisis

The continent that once aspired to be a rival superpower to the US is now a byword for decline, and ethnic nationalism and right-wing populism are thriving.

The eurozone crisis was never resolved. It was merely conveniently forgotten. The vote for Brexit, the terrible war in Syria and Donald Trump’s election as US president all distracted from the single currency’s woes. Yet its contradictions endure, a permanent threat to continental European stability and the future cohesion of the European Union.

The resignation of the Italian prime minister Matteo Renzi, following defeat in a constitutional referendum on 4 December, was the moment at which some believed that Europe would be overwhelmed. Among the champions of the No campaign were the anti-euro Five Star Movement (which has led in some recent opinion polls) and the separatist Lega Nord. Opponents of the EU, such as Nigel Farage, hailed the result as a rejection of the single currency.

An Italian exit, if not unthinkable, is far from inevitable, however. The No campaign comprised not only Eurosceptics but pro-Europeans such as the former prime minister Mario Monti and members of Mr Renzi’s liberal-centrist Democratic Party. Few voters treated the referendum as a judgement on the monetary union.

To achieve withdrawal from the euro, the populist Five Star Movement would need first to form a government (no easy task under Italy’s complex multiparty system), then amend the constitution to allow a public vote on Italy’s membership of the currency. Opinion polls continue to show a majority opposed to the return of the lira.

But Europe faces far more immediate dangers. Italy’s fragile banking system has been imperilled by the referendum result and the accompanying fall in investor confidence. In the absence of state aid, the Banca Monte dei Paschi di Siena, the world’s oldest bank, could soon face ruin. Italy’s national debt stands at 132 per cent of GDP, severely limiting its firepower, and its financial sector has amassed $360bn of bad loans. The risk is of a new financial crisis that spreads across the eurozone.

EU leaders’ record to date does not encourage optimism. Seven years after the Greek crisis began, the German government is continuing to advocate the failed path of austerity. On 4 December, Germany’s finance minister, Wolfgang Schäuble, declared that Greece must choose between unpopular “structural reforms” (a euphemism for austerity) or withdrawal from the euro. He insisted that debt relief “would not help” the immiserated country.

Yet the argument that austerity is unsustainable is now heard far beyond the Syriza government. The International Monetary Fund is among those that have demanded “unconditional” debt relief. Under the current bailout terms, Greece’s interest payments on its debt (roughly €330bn) will continually rise, consuming 60 per cent of its budget by 2060. The IMF has rightly proposed an extended repayment period and a fixed interest rate of 1.5 per cent. Faced with German intransigence, it is refusing to provide further funding.

Ever since the European Central Bank president, Mario Draghi, declared in 2012 that he was prepared to do “whatever it takes” to preserve the single currency, EU member states have relied on monetary policy to contain the crisis. This complacent approach could unravel. From the euro’s inception, economists have warned of the dangers of a monetary union that is unmatched by fiscal and political union. The UK, partly for these reasons, wisely rejected membership, but other states have been condemned to stagnation. As Felix Martin writes on page 15, “Italy today is worse off than it was not just in 2007, but in 1997. National output per head has stagnated for 20 years – an astonishing . . . statistic.”

Germany’s refusal to support demand (having benefited from a fixed exchange rate) undermined the principles of European solidarity and shared prosperity. German unemployment has fallen to 4.1 per cent, the lowest level since 1981, but joblessness is at 23.4 per cent in Greece, 19 per cent in Spain and 11.6 per cent in Italy. The youngest have suffered most. Youth unemployment is 46.5 per cent in Greece, 42.6 per cent in Spain and 36.4 per cent in Italy. No social model should tolerate such waste.

“If the euro fails, then Europe fails,” the German chancellor, Angela Merkel, has often asserted. Yet it does not follow that Europe will succeed if the euro survives. The continent that once aspired to be a rival superpower to the US is now a byword for decline, and ethnic nationalism and right-wing populism are thriving. In these circumstances, the surprise has been not voters’ intemperance, but their patience.

This article first appeared in the 08 December 2016 issue of the New Statesman, Brexit to Trump