Friday Arts Diary

Our cultural picks for the week ahead.

Opera

Eugene Onegin, The Royal Opera House, Covent Garden, and selected cinemas. 20 February.

Tchaikovsky adapted Pushkin’s great novel in verse into what he described as ‘lyrical scenes’, in which a young girl is rejected by Onegin, and eventually chooses honour over true love. The opera has an intimacy rare in the Russian tradition, and explores themes of maturity and sexual awakening. This production is directed by first-timer Kasper Holten and stars Simon Keenlyside, and is part of The Royal Opera House’s cinema initiative, in which performances are streamed live to a rage of Vue cinemas. Opening is Wednesay 20. The Royal Opera House reminds fans that screenings are updated and added on a daily basis, so they ought to check back regularly to see at which cinema’s this production is showing.

 

Exhibition

Poster Art 150: London Underground's Greatest Designs, London Transport Museums, Covent Garden Piazza. From 15 February 2013 to 1 October 2013

London Underground has developed a reputation, since a graphic poster competition in 1908, for commissioning exciting poster art. This exhibition, in commemoration of the tube’s anniversary, collates 150 of the most remarkable. There are posters by renowned artists and photographer such as Man Ray, alongside work from lesser known artists. This exhibition presents a vibrant pictorial history of the underground and the art works which have animated the world’s oldest subway system.

 

Film

Montgomery Clift Season, BFI Southbank. 19 - 28 February

As Trevor Johnstone of the BFI writes, “when he burst on the scene in the late 1940s, Montgomery Clift brought a new kind of masculinity to the screen. Listening, caring, intelligent, but no wilting flower either – behind everything lay a stony determination”. “Wrongly, he’s often lumped in with those icons of the Method, Brando and Dean, but while their performances were often founded on expressive self-revelation, Monty did his utmost to disappear inside his characters”. This retrospective overviews key films, such as Wild River, directed by Elia Kazan, and The Misfits with Marilyn Monroe.

 

Theatre

Our Country’s Good, St James Theatre, running until 23 March

This acclaimed play is based on the true story of a cast of convicts who put on a play under the enthusiasm of a young marine officer. Both behind the scenes and onstage their positions break down and intermingle, opening up a compendium of self-discovery in Australia. The play achieved many awards in Britain and American during its first run, and this production represents a welcome re-invention of a classic. Max Stafford-Clark, who recently revived Top Girls to 5 star acclaim, returns to Our Country’s Good after directing the play 25 years ago.

 

Comedy

Alan Davies: Life is Pain, Hammersmith Apollo, 18 - 19 February

The star of QI returns to stand-up after a ten year vacation with this jovially cynical set. Davies looks back to the 80s in this at times autobiographical routine, comparing his behavior then with the middle-aged outlook with which he now wrestles. Ripples of seriousness (the death of his motehr whenhe was six) remain ripples, as Davies focuses much more intently on his mild worries about the end of the world.

 

Montgomery Clift in A Place in The Sun (Photo by Keystone-France/Gamma-Keystone via 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