A night at the Baftas

Ben Affleck steals a march in the race to the Oscars.

On Sunday evening the British Academy Film and Television Awards (better known as the Baftas) were held at the Royal Opera House in Covent Garden. The red carpet was a soggy scene, and Hollywood’s hottest intoned for many hours on meteorology. It was a happy television audience when Stephen Fry eventually brought his purple prose to the pulpit.

Ben Affleck won for his direction of Argo, which in turn was named best film, gaining it more yardage in its sprint toward Oscar success. Lincoln has been reclining in an armchair on the edge of the finish line for months, and may very way topple over it, with a yawn, by Oscar night. This is very difficult to call, but Argo’s thighs are certainly pumping after a resplendent Sunday in London. Quentin Tarantino’s original screenplay for Django Unchained was honoured. This makes coy amends for Tarantino’s inexplicable exclusion from the director category.
 
The acting categories went according to expectations – for the most part. As inevitable as Stephen Fry getting a gag about lubricant into his script, Anne Hathaway was awarded best supporting actress for her role as Fantine in Les Miserables, and the sun shone on the nothing new as Daniel Day-Lewis was named best actor. One is in mild emotional limbo as his performance in Lincoln wins another award (and continues its course toward an Oscar); not because it is undeserving, but because Joaquin Phoenix must remain un-lauded, left clawing at his beard at the back of the hall, having delivered such a performance in The Master, so twitching and boggled and brilliant. Christoph Waltz was awarded best supporting actor for Django Unchained, and in his studied and choppy English delivered a charming speech in which he praised Quentin Tarantino – "You silver-penned devil!" – against impending tears. This builds on his victory at the Golden Globes, though it would remain a surprise if he defeats Tommy Lee Jones, Alan Arkin and Philip Seymour Hoffman at the Oscars considering he took the statue for a comparable performance in Inglorious Basterds.
 
The British Academy’s compliance ceased at the best actress category, however, as they chose Emmanuelle Riva over Jennifer Lawrence and Jessica Chastain. Although one’s money is still safest behind Lawrence for the Oscar, the pluck it took to choose a 85 year old, whose heyday was the French New Wave, might re-conjure the dissident poltergeist which spooked the American Academy into voting for The Artist, and open minds to the possibility of making Riva their unlikely recipient. 
 
A number of the technical categories this year can be treated with more interest than the shoulder-shrugging they usually receive. Les Miserables was given the award for best sound in recognition of its recording technique, wherein actors perform their pieces live, dictating the tempo of their numbers rather than miming to a pre-recording (reservedly labeled ‘revolutionary’ in the making of musicals). In addition, Life of Pi was given the special visual effects award for a project that included the lavish creation of Richard Parker, the digital tiger, work which has been credited with making a significant contribution to the union of technology and art. 
 
Below is a complete list of the winners.
 
BEST FILM: Argo- Grant Heslov, Ben Affleck, George Clooney 
 
OUTSTANDING BRITISH FILM: Skyfall - Sam Mendes, Michael G.Wilson, Barbara Broccoli, Neal Purvis, Robert Wade, John Logan 
 
OUTSTANDING DEBUT BY A BRITISH WRITER, DIRECTOR OR PRODUCER: Bart Layton (Director), Dimitri Doganis (Producer) – The Imposter
 
FILM NOT IN THE ENGLISH LANGUAGE: Amour- Michael Haneke, Margaret Ménégoz 
 
DOCUMENTARY: Searching for Sugar Man- Malik Bendjelloul, Simon Chinn 
 
ANIMATED FILM: Brave - Mark Andrews, Brenda Chapman 
 
DIRECTOR: Argo – Ben Affleck
 
ORIGINAL SCREENPLAY: Django Unchained - Quentin Tarantino 
 
ADAPTED SCREENPLAY: - David O. Russell 
 
LEADING ACTOR: Daniel Day-Lewis - Lincoln
 
LEADING ACTRESS: Emmanuelle Riva - Amour 
 
SUPPORTING ACTOR: Christoph Waltz - Django Unchained 
 
SUPPORTING ACTRESS: Anne Hathaway – Les Miserables
 
ORIGINAL MUSIC: Skyfall - Thomas Newman 
 
CINEMATOGRAPHY: Life of Pi – Claudio Miranda 
 
EDITING: Argo - William Goldenberg 
 
PRODUCTION DESIGN: Les Miserables - Eve Stewart, Anna Lynch-Robinson 
 
COSTUME DESIGN: Anna Karenina - Jacqueline Durran 
 
MAKE UP & HAIR: Les Miserables - Lisa Westcott 
 
SOUND: Les Miserables - Simon Hayes, Andy Nelson, Mark Paterson, Jonathan Allen, Lee Walpole, John Warhurst 
 
SPECIAL VISUAL EFFECTS: Life of Pi - Bill Westenhofer, Guillaume Rocheron, Erik-Jan De Boer 
 
SHORT ANIMATION: The Making of Longbird - Will Anderson, Ainslie Henderson 
 
SHORT FILM: Swimmer - Lynne Ramsay, Peter Carlton, Diarmid Scrimshaw 
 
THE EE RISING STAR AWARD (voted for by the public): Juno Temple 
 
OUTSTANDING BRITISH CONTRIBUTION TO CINEMA: Tessa Ross 
 
THE BAFTA FELLOWSHIP: Alan Parker 
Ben Affleck at the Baftas (Photograph: Getty Images)
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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