Friday Arts Diary

Our cultural picks for the week ahead


Manet: Portraying Life,  Royal Academy, Burlington House  Piccadilly, London W1, 26 Jan - 14 April
A retrospective devoted to the portraiture of Edouard Manet. Works from Europe Asia and the USA are brought together in this showcase of a prolific and influential painter. Despite the fact that around half of Manet's artistic output was made up of portraiture, this is the first ever retrospective of this kind. It includes depictions of the artist's  family and friends, as well as literary, political and artistic figures of Paris of the time. The over 50 works on display include portraits of Manet’s wife Suzanne Leenhoff, intellectuals of the period Antonin Proust, Émile Zola and Stéphane Mallarmé, and scenes from everyday life, revealing Manet’s forward-thinking, modern approach to portraiture.


Breakfast at Tiffany's, British Film Institute, cinemas across London, 14 Feb

The BFI is screening Breakfast at Tiffany's, a classical romantic comedy, at 14 cinemas across London on Valentine's Day. Breakfast at Tiffany's tells the story of aspiring writer Paul Varjak (George Peppard) and to his unconventional neighbour Holly Golightly (Audrey Hepburn). Holly is a stylish socialite with a hidden past and her unlikely pairing with Paul has become one of the most well-known of modern love stories on film. The movie will be screened at the following cinemas: Charlotte St. Hotel, Everyman Baker Street, Everyman Belsize Park, Everyman Maida Vale, Clapham Picturehouse, Gate Picturehouse, Greenwich Picturehouse, Hackney Picturehouse, Stratford East Picturehouse and Prince Charles Cinema.The movie will be screened at the following cinemas: Charlotte St. Hotel, Everyman Baker Street, Everyman Belsize Park, Everyman Maida Vale, Clapham Picturehouse, Gate Picturehouse, Greenwich Picturehouse, Hackney Picturehouse, Stratford East Picturehouse and Prince Charles.


Sylvia Sleigh, Tate Liverpool, Albert Dock  Liverpool Waterfront, Liverpool, 8 February – 3 May

Sylvia Sleigh was a realist painter in New York’s feminist art scene in the 1960s and beyond. Her explicit paintings of male nudes challenged the art historical tradition of male artists painting female subjects as objects of desire. This exhibition at Tate Liverpool will be Sleigh’s first UK retrospective. It is also the largest exhibition of her work to date. Sleigh’s portraits reject the idealisation of frmale bodies, painting details such as tan-lines and body hair. Her work highlights that there is beauty to be found in everyone, regardless of their imperfections. Tate Liverpool has invited LA-based artist Frances Stark to respond to the exhibition, offering an interpretation of Sleigh’s work and a contemporary consideration of her relevance and impact.


After the Fall - Hin Chua, Third Floor Gallery, 102 Bute Street, Cardiff, 2 Feb - 17 Mar
The photographs in After the Fall are taken at the edges of urban development, places where towns and cities dissolve in the surrounding countryside. These forgotten places - discarded fields, industrial hinterlands, geographical accidents – are described as “in a state of impermanence, their lifetime short compared to that of the man made sprawl that will take over them”. These images fix into photographic paper the unpredictable, often disturbing results of the collisions that are gradually and chaotically reshaping the spaces around us. Hin Chua uses satellite imagery to find locations; landing him in surprising and often deserted locations in unfamiliar countries. Taken over several years, After the Fall brings a global perspective on the process of urbanization, which is changing our landscapes.


The Captain of Köpenick, Olivier Theatre, National Theatre, South Bank, London, SE1, 5 Feb – 4 April

Released after fifteen years in prison, trapped in a bureaucratic maze, petty criminal Wilhelm Voight wanders 1910 Berlin in desperate, hazardous pursuit of identity papers. Luck changes when he picks up an abandoned military uniform in a fancy-dress shop and finds the city ready to obey his every command. At the head of six soldiers, he marches to the Mayor’s office, cites corruption and confiscates the treasury with ease. But still what he craves is official recognition that he exists. A nation heads blindly towards war as the misfit takes on the state in Ron Hutchinson’s savagely funny new version of Carl Zuckmayer’s The Captain of Köpenick, first staged in Germany in 1931. Antony Sher takes the title role.

LONDON - DECEMBER 1: People walk past the Manet's Masked Ball at the Opera (circa 1873), Graeme Robertson, CREDIT: Getty Images
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Leader: Mark Carney — a rock star banker feels the heat

Rather than mutual buck-passing, politicians and central bankers must collaborate in good faith.

On 24 June, the day after the EU referendum, the United Kingdom resembled a leaderless state. David Cameron promptly resigned as prime minister after his humiliating defeat. His closest ally, George Osborne, retreated to the safety and silence of the Treasury. Labour descended into open warfare; meanwhile, the leaders of the Leave campaign appeared terrified by the challenge confronting them and were already plotting and scheming against one another.

The government had not planned for Brexit, and so one of the few remaining sources of authority was the independent Bank of England. Its Canadian governor, the former Goldman Sachs banker Mark Carney, provided calm by announcing that Threadneedle Street had performed “extensive contingency planning” and would not “hesitate to take additional measures”. A month later, the Bank cut interest rates to a ­record low of 0.25 per cent and announced an additional £60bn of quantitative easing (QE). Both measures helped to avert the threat of an immediate recession by stimulating growth and employment.

Since then the Bank of England governor, who this week gave evidence on monetary policy to the economic affairs committee at the House of Lords, has become a favoured target of Brexiteers and former politicians. Michael Gove has compared Mr Carney to a vainglorious Chinese emperor and chided him for his lack of “humility”. William Hague has accused the Bank of having “lost the plot” and has questioned its future independence. Nigel Lawson has called for Mr Carney to resign, declaring that he has “behaved disgracefully”.

At no point since the Bank achieved independence under the New Labour government in 1997 has it attracted such opprobrium. For politicians faced with the risk, and the reality, of economic instability, Mr Carney and his colleagues are an easy target. However, they are the wrong one.

The consequences of loose monetary policy are not wholly benign. Ultra-low rates and QE have widened inequality by enriching asset-holders, while punishing savers. Yet the economy’s sustained weakness as well as poor productivity have necessitated such action. As Mr Osborne consistently recognised when he was chancellor, monetary activism was the inevitable corollary of fiscal conservatism. Without the Bank’s interventionism, government austerity would have had even harsher consequences.

The new Chancellor, Philip Hammond, has rightly taken the opportunity to “reset” fiscal policy. He has abandoned Mr Osborne’s absurd target of seeking to achieve a budget surplus by 2020 and has promised new infrastructure investment in his Autumn Statement on 23 November.

After years of over-reliance on monetary stimulus, a rebalancing is, in our view, necessary. Squeezed living standards (inflation is forecast to reach 3 per cent next year, given the collapse in the value of sterling) and anaemic growth are best addressed through government action rather than a premature rise in interest rates. Though UK gilt yields have risen in recent weeks, borrowing costs remain at near-record lows. Mr Hammond should not hesitate to borrow to invest, as Keynesians have long argued.

The Bank of England is far from infallible, of course. In recent years, its growth and employment forecasts have proved overly pessimistic. Mr Carney’s immediate predecessor, Mervyn King, was too slow to cut rates at the start of the financial crisis and was ill-prepared for the recession that followed. Central bankers across the developed world, most notably the former Federal Reserve head Alan Greenspan, have too often been treated as seers beyond criticism. Their reputations have suffered as a consequence.

Yet the principle of central bank independence remains one worthy of defence. Labour’s 1997 decision ended the manipulation of interest rates by opportunistic politicians and enhanced economic stability. Although the Bank’s mandate is determined by ministers, it must be free to set monetary policy without fear of interference. The challenge of delivering Brexit is the greatest any British government has faced since 1945. Rather than mutual buck-passing, politicians and central bankers must collaborate in good faith on this epic task.

This article first appeared in the 27 October 2016 issue of the New Statesman, American Rage