Can the G7 contain the economic fallout from the war in Iran?

Summary

Podcast Summary: The Globalist – "Can the G7 contain the economic fallout from the war in Iran?"
Monocle Radio | May 19, 2026
Host: Chris Chermak

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Episode Overview

This episode dives into the profound economic and geopolitical aftershocks of the escalating conflict in Iran, focusing on the G7’s attempts to coordinate a response. Key segments explore the impact of soaring oil prices, risks to global markets, dramatic currency fluctuations in Asia, Cuban energy crises, Eurozone labor turmoil, a mounting Ebola outbreak, and the climate cost of the upcoming FIFA World Cup. The show includes expert analysis from leading economists, first-hand reports from Indonesia and New York, and a roundup of European headlines, all while maintaining Monocle’s informed yet accessible tone.

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Key Segments & Insights

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1. G7 Meeting: Coordinating Economic Response to the Iran War

Timestamps: [01:20] – [10:13]
Guests: Rebecca Christie, Senior Fellow at Bruegel

Highlights:

• G7’s Main Concerns:
  Finance ministers and central bankers from G7 nations gathered in Paris to strategize responses to the global economic instability triggered by the war in Iran, especially regarding sanctions and market confidence.
• Market Uncertainty and Oil Prices:
  • “One of the things that makes it so hard for the world economy to recover is that we don’t know how long this is going to last. Is it permanent? Is it temporary?” – Rebecca Christie [03:44]
  • Oil prices surged unexpectedly, adding to uncertainty. Businesses and households are hesitant due to the unpredictability of both the conflict and policy responses.
• Sanctions Strategy:
  • The G7 aims to maintain a unified front on sanctions, keep Iran economically isolated, and address “global imbalances”—disparities in trade and investment flows.
  • “The hope is... the seven countries will come together and produce some sort of statement that pledges to keep up sanctions collectively on Iran.” –Rebecca Christie [04:46]
• Supporting Consumers vs. Fiscal Risk:
  • Policymakers resist artificially lowering oil prices through subsidies, emphasizing targeted support rather than broad interventions to avoid exacerbating budget deficits.
  • “If countries just cut their taxes on oil or do things to artificially keep the price of oil where it was historically, that literally tries to erase the policy impact that these other policies are trying to have.” –Rebecca Christie [06:26]
• Interest Rates & Central Banks:
  • Central banks face tough, localized decisions. Co-ordination is unlikely since economic conditions diverge across the G7. US and UK in particular face leadership transitions and political uncertainties.
• Trade Talks & China:
  • While intra-G7 cohesion is sought, China’s absence makes comprehensive solutions elusive. Side talks involve Ukraine and Gulf states to address economic spillovers.
• Investor Jitters:
  • Global markets remain anxious; investors had possibly underestimated risks until recently but are now more alert to government inaction and escalating conflict.

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2. Indonesia & Asian Market Volatility

Timestamps: [11:07] – [16:41]
Guest: Randy Mollanto, Founder & CEO, Red Voice Indonesia

Highlights:

• Rupiah Record Low:
  • Indonesia’s rupiah plunged to historic lows, sparking memories of the 1998 crisis, though today’s socio-economic context differs.
  • “Some Indonesians have drawn parallels to the 1998 Asian financial crisis when the exchange rate reached more than 16,500 per US dollar. Now it’s about 17,700.” –Randy Mollanto [12:09]
• Drivers of Depreciation:
  • Not just oil (which Indonesia exports), but deeper concerns over macroeconomic stability, investor confidence, and government communication.
  • “Foreign investors would be concerned about putting their capital into Indonesia, especially for long-term investment such as building new factories in the country.” –Randy Mollanto [14:21]
• Impact Across ASEAN:
  • Regionally, rising oil prices are straining economies. The Philippines saw GDP contract due to weaker consumer spending; Thailand’s tourism-reliant GDP rose, but at a cost; Indonesia’s statistics show growth but with worrying internal inconsistencies.
  • “It’s not a similar story across the region.” –Randy Mollanto [15:34]

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3. European Press Review: Cuba Crisis, German Labor, Ebola Outbreak

Timestamps: [17:02] – [28:38]
Guest: Claudine Fry, Partner at Control Risks

Key Stories:

• Cuba’s Energy Crisis and US Tensions:
  • Cuba warns of a “bloodbath” if the US intervenes militarily amid a humanitarian crisis worsened by oil shortages and sanctions.
  • “Cuba does not represent a threat... possibility that [the US] is building...a fraudulent case for military action.” –Claudine Fry [18:01]
• German Economic Downturn:
  • Germany faces a pivot from labor shortages to hiring freezes and surging youth unemployment, with AI and high energy costs as possible contributors.
  • “We have got a worrying trend with respect to unemployment... the number of people unemployed has topped 3 million.” –Claudine Fry [21:48]
• Ebola in the DRC:
  • Massive, under-monitored Ebola outbreak classified as an international emergency.
  • “Our surveillance system didn’t work.” –Congo’s Institute of Biomedical Research [25:10]
• Swatch–Audemars Piguet Tie-In Chaos:
  • Affordable luxury collaboration led to riots at stores as buyers scrambled for resell profits and exclusivity.

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4. NYC Design Week: US Design Identity

Timestamps: [30:52] – [37:13]
Guest: Nick Manese, Monocle Design Editor

Highlights:

• Event Atmosphere:
  • ICFF remains the anchor in a sprawling, party-filled NYC Design Week.
  • “It is an awkward breakup…like finding out your parents are getting divorced at the kitchen table.” –Nick Manese on ICFF splitting from NYCxDesign [32:08]
• US Design Identity:
  • America’s design culture is less established than Europe’s—events like this bolster industry pride and encourage consumer confidence in domestic brands.

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5. The FIFA World Cup’s Climate Burden

Timestamps: [38:07] – [45:43]
Guest: Sheena Rossiter, Monocle Contributing Editor, Edmonton

Highlights:

• Record Greenhouse Emissions:
  • 2026 World Cup’s “most polluting” status: 9–13.7 million tons CO₂ expected, mostly from intercontinental air travel between 48 teams in three host nations.
  • “This tournament will generate around 9 million tons of carbon dioxide equivalent... Four times more than that of the average tournaments held between 2010 and 2022.” –Sheena Rossiter [40:18]
• FIFA’s Greenwashing Criticized:
  • Despite sustainability claims, FIFA’s partnership with oil giant Aramco and the expansion to more teams worsen environmental concerns.
  • Captains and players, including Canada’s, openly criticized FIFA’s environmental policies.

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6. Parov Stelar Interview: Eurovision & Musical Inspiration

Timestamps: [46:42] – [52:00]
Guest: Parov Stelar (Marcus Füreder), Electro Swing Musician
Host in Segment: Fernando Augusto Pacheco

Memorable Quotes:

• “Most inspiration is in daily life, not the big happenings. ...From that experience... how does it feel for this little cat?... then cat groove was born.” –Parov Stelar [51:04]
• On new Eurovision song: “Black Lilies... it’s a story about a woman, a young woman who fell in love with a ghost... it continues... a whole story of maybe a family or decade and of people who are in love with the ghost.” [49:55]
• “As long as you see me alive and I can answer questions, I will make music, you know.” [49:55]

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7. London Theater News: New Productions & Big Names

Timestamps: [52:00] – [58:10]
Guest: Matt Wolfe, Theater Critic, International New York Times

Highlights & Recommendations:

• Sherlock Holmes Returns:
  • “It was a fabulous show... They did use the fact that this was a massive stage, even if it wasn’t a musical—acrobatic acts, fight scenes, running around the theater.” –Chris Chermak [53:05]
• Equus at Minier Chocolate Factory:
  • Passionate, physical performances with Toby Stevens; original Broadway run changed Wolfe’s life.
  • “To relive something is to get over it—not necessarily true... but the juicy acting... very much worth seeing.” –Matt Wolfe [55:40]
• Star Power: Ralph Fiennes & Gary Oldman:
  • Fiennes stars as Victorian actor Henry Irving; Gary Oldman returns in Beckett’s Krapp’s Last Tape at age 68.

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Notable Quotes by Timestamp

• “There’s so much uncertainty in the world economy right now, and that’s been almost the hardest thing.”
  —Rebecca Christie [03:39]

• “Markets like to know what’s going on so they can use that as a backdrop... When the big fundamental conditions are shifting so much with so little predictability, that’s what unsettles things.”
  —Rebecca Christie [09:44]

• “It’s not a similar story across the region.”
  —Randy Mollanto [15:34]

• “Cuba does not represent a threat... fraudulent case for military action.”
  —Claudine Fry [18:01]

• “Four times more than the average tournaments... that’s because this World Cup is hosted between three countries that spanned all across North America.”
  —Sheena Rossiter [40:18]

• “Most inspiration is in daily life, not the big happenings.”
  —Parov Stelar [51:04]

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Tone & Takeaways

The episode delivers incisive, calmly urgent analysis—balancing the dry wit and thoroughness Monocle is known for—with clarity on the real-world stakes of economic policy, global conflict, and climate action. Expert guests, front-line reports, and cultural coverage bring the macro and micro together in a brisk, cosmopolitan style.

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Recommended Listening Segments:

• G7 Economic Fallout & Market Uncertainty [03:39–10:13]
• Asian Market Turbulence [11:07–16:41]
• The World Cup & Climate [38:07–45:43]
• Parov Stelar Interview [46:42–52:00]
• London Theater News [52:00–58:10]

Transcript

[UBS Narrator]

Craft matters in small ways like how a coffee is brewed, and in not so small ways like how your money is cared for. Which is why for 160 years UBS has elevated banking to a craft, tailoring unique strategies that combine human expertise with the latest technologies, all happening across 24 time zones and and 12 key financial hubs. With you at the heart of it all, UBS advice is our craft.

[Chris Chermak]

You're listening to the Globalist, first broadcast on 19 May 2026 on Monocle Radio. The Globalist in association with U. Live from London. This is the Globalist. I'm Chris Chermak. Coming up, we call upon all our

[Randy Mollanto]

G7 and indeed all of our allies

[Parov Stelar]

and the rest of the world to follow the sanctions regime.

[Chris Chermak]

U.S. treasury Secretary Scott Bessant there as finance ministers and central Bankers from the G7 group of nations meet in Paris to discuss the Iran war's fallout. We'll have the latest after that to Indonesia, which is facing the collapse of its currency. We'll have the newspapers and we'll head to New York for NYC Design taking place in the Big Apple this week.

[Parov Stelar]

After that, most inspiration is in daily life, not the big happenings.

[Chris Chermak]

Wise words from the Eurovision interval act in Vienna. Pavrov Stellar. We'll hear from him. We'll also take a look at the climate impacts of the upcoming World Cup. And we've got the theatre news with Matt Wolff. That's all up ahead here on the Globalist, live from London. Well, first a look at what else is happening in the news. Three people have been killed by two teenage gunmen who opened fire on an Islamic center in the Californian city of San Diego. Russian President Vladimir Putin is on his way to Beijing for a meeting with Chinese President Xi Jinping just a few days after Trump's visit to China. And OpenAI has won a case brought by Elon Musk that had claimed the company illegally transitioned from a non profit to a for profit venture. Stay tuned to Monocle Radio throughout the day for more on those stories. But first, US President Trump says he's postponed a strike on Iran that had been scheduled for today after Tehran submitted a fresh proposal to end the war via Pakistani intermediaries. Well, that news comes as finance ministers and central bankers of the group of seven G7 nations met in Paris this week with a call for the United States to join their pressure campaign and step up sanctions on Iran. The finance ministers meeting in Paris are hoping to coordinate some sort of response to the global upheaval before financial markets and investors start A fresh sell off of bonds and other government assets. Well, I'm joined now from Brussels by Rebecca Christie, senior fellow at Bruegel and host of the Sound of Economics podcast. And Rebecca, great to have you on the show. Can you, I know this is a difficult question to wrap up, first of all, but paint us a picture of just how bad all of the economic fallout has been.

[Rebecca Christie]

So there's so much uncertainty in the world economy right now, and that's been almost the hardest thing. Oil prices went way up after the war rather unexpectedly broke out in Iran earlier this year. That said, if they were just going to be up for a certain period of time, people can adjust. One of the things that makes it so hard for the world economy to recover is that we don't know how long this is going to last. Is it permanent? Is it temporary? What parts are permanent? You add to that the uncertainty of the tariffs of various trade disputes between various countries and China. It's just a really changing time. And that makes it really hard for businesses and households to make decisions and for policymakers to manage.

[Chris Chermak]

Well, exactly. And as we've just heard, I mean, the news today is that once again, a strike is postponed. We're in this kind of limbo. So what does that do for finance ministers and central bank meeting in Paris? How do they decide what they need to do amid all of this uncertainty?

[Rebecca Christie]

The French are currently in charge of what they call the rotating presidency of the G7. Each country takes a turn setting the agendas for the meetings and trying to figure out what they're going to do. The hope is very much that the seven countries will come together and produce some sort of statement that pledges to keep up sanctions collectively on Iran, also to address what we in the field called global imbalances, which is to say trade and investment differences among countries. So a lot of people are investing in the US and not in their own countries, but maybe they're exporting more than they're importing. You've got all these, these different areas where trade flows are not in line with each other to the extent that people think they should be. And then finally, you also have supply chains where there's a lot of dependence on China and other parts of the world for various minerals and components. And there's a hope, for example, in Europe to work more closely with countries in Latin America, for example, with the AmericaSaur bloc of countries to diversify and help them just even out a lot of these big swings.

[Chris Chermak]

Well, I want to get to trade in a moment. I mean, I know all of this is linked trade, supply chains, Iran, but on Iran specifically and sort of what needs to happen to ease some of the pressure on consumers, ease some of the pressure on inflation. Is that something where we will find agreement among these G7 finance ministers and

[Rebecca Christie]

central bankers without any inside information? My sense is that the ministers and central bankers will focus more on the sanctions and on keeping a unified front and trying to keep Iran isolated from other parts of the global economy. And when it comes to helping consumers, they may make some noises about trying to help those in need and not. Not just indiscriminately push prices back down. I mean, prices are a signal. And if countries just cut their taxes on oil or do things to artificially keep the price of oil where it was historically, that literally tries to erase the policy impact that these other policies are trying to have. So to the extent there is any collective discussion on that, you might see some encouragement to make assistance more targeted to households that need it and not just push the prices back down by spending money that you don't have, because that exacerbates budget deficits, which are another kind of imbalance.

[Chris Chermak]

And just to follow up on that from the central banker side, are they going to have any conversations about coordinating? I mean, they just all face a dilemma, don't they, right now? Do you lower interest rates? Do you raise interest rates? Do you deal with the fact that prices are high, or do you deal with the fact that economies are doing poorly?

[Rebecca Christie]

Each G7 country has to do what they think is right for their local economy. We are not in a global financial crisis or another situation where there need to be more coordinated monetary policy rules and the same interest rates would not make sense for everybody. We know in the US There is a changing of the guard right now. So it may take a little time to see what direction policy is going to go. The bank of England is facing a lot of political uncertainty and a lot of questions over whether to change its bond buying habits and the bonds on its balance sheets. So that's what's going on. You've also got, you know, the French, the Germans, the Japanese, the Canadians. They all have their own constraints. The central bankers will be watching and waiting and particularly focused on global stability

[Chris Chermak]

now when it does come to trade. And I wanted to turn to that. Scott Bessance, the US Treasury Secretary, was in China with Donald Trump. They seem to have postponed their trade war there. But nonetheless, do you get the sense of these G7 ministers that they are in any kind of agreement on what to do about trade. Given that of course a lot of the tariffs, everything was started by one of its members.

[Rebecca Christie]

It is a very difficult situation. The hope of having these summits is to find common ground and figure out where countries can work more constructively together. China, of course, not part of the G7, so it will be hard to see what they end up doing. They have decided to invite for side talks Ukraine and some of the Gulf states just to talk about economic spillovers and ways that they might be able to mitigate them or at least keep an eye on them.

[Chris Chermak]

And just finally, Rebecca, I mean, how are markets, investors going to be looking at all of this? Because there are jitters out there right now. It's been interesting that in a way previous to this it was governments actually or groups like the IMF that were warning that markets are undervaluing all of the risk out there. Are they starting to catch up right now? Are they getting worried about government inaction and what's happening in Iran?

[Rebecca Christie]

There's just so much uncertainty. I keep saying that, but it's the number one thing. Markets like to know what's going on so they can use that as a backdrop and then make their daily decisions on buying and selling and trading. And when the big fundamental conditions are shifting so much with so little predictability, that's what unsettles things. Markets in the US by and large have chosen to hope that this will sort itself out over time and they won't need to make long term adjustments. But we will have to see.

[Chris Chermak]

Rebecca Christie, Senior Fellow at Bruegel, host of the Sound of Economics podcast, joining us from Brussels. Thank you very much. This is the globalist

[UBS Narrator]

craft is a matter of perspective, a unique outlook, an obsessive attention to detail. With UBS's Chief Investment Office Houseview, we're focused on identifying the latest investment opportunities and market risks to help you achieve your financial goals so you get the big picture broken down into thought provoking insights. Delivered daily and curated by over 200 globally connected, locally active analysts, UBS Banking is our craft.

[Chris Chermak]

Well, it is 13:11 in Jakarta, 7:11 here in London now as the G7 grapples with the fallout from the war in Iran. As we just heard, Indonesia's currency fell to a record low against the US Dollar yesterday. The decline comes amid soaring oil prices linked to the Middle east crisis, although the Indonesian case is a bit of a unique one as there are also growing investor concerns over government spending. Looking beyond Indonesia this week, ASEAN countries also released their first quarter GDP figures with signs that higher energy Prices are beginning to affect economies including Thailand, the Philippines and Singapore. Well, I'm joined now for more on all of this by Randy Mollanto, journalist and founder and CEO of Red Voice Indonesia in Jakarta. Randy, great to have you on the show. I just mentioned the Indonesian currency hitting a record low against the US Dollar. How serious is that for Indonesia?

[Randy Mollanto]

Thank you for having me. Well, some Indonesians have drawn Parallels to the 1998 Asian financial crisis when the exchange rate reached more than 16,500 per US dollar. Now it's about 17 and 700 rupiah per US dollar. I mean, the situation is different. You know, when you compare today's Indonesia with a country under the late dictator Suharto, I mean, Indonesia is wealthier now. And the country's finance minister also said that the current economy differs from that of the late 1990s due to the wrong policies and sociopolitical instability during that period. But this episode, Chris, is still concerning for many business players in Indonesia as it will result in more expensive imports. The rupiah has depreciated for many months, but it has now indeed reached its lowest point or one of its lowest points. One thing is for sure here. I mean, the impact has been felt. And domestically, more people are watching the weakening rupiah and becoming impatient as a result. You know, an economist from the Institute for Development of Economics and Finance said the weakening rupiah would cause higher production costs, imported inflation and threat of layoffs. And there are also concerns about capital flight and industry postponing their expansion plan. Yet for consumers, it's also not a good sign. They'll have to spend more to purchase goods the longer the situation persists. And even some analysts said the rupiah could reach, you know, could reach 18,000 for US dollar or potentially higher.

[Chris Chermak]

So, Randy, with all of that that you described there, just give us some of the reasons that the currency is coming under such pressure, because I think what's interesting is that we talk a lot about oil prices. We've been talking about it a lot on this show. But Indonesia actually exports energy, so it's not really about that, is it?

[Randy Mollanto]

Yeah, that's right. Some would point to the ongoing war in Iran and the broader region. It contributes to the rise in crude oil prices. So that issue is not unique to Indonesia. External GE political pressures, one could say. But let's focus on Indonesia for now. Chris, another economist from the center of Economic and Law Studies that the weakening rupiah signals pressures facing the country's macro economy. He also added that foreign investors would be concerned about putting their capital into Indonesia, especially for long term investment such as building new factory in the country. So I don't think it's necessarily a matter of Indonesia being a resource exporter at the moment. You know, the same economist also said domestic economic fundamentals and the government communication affect investors perception to disrupt the nation's current economy as being seen as, quote, shaky or highly volatile. The government, in short, says the situation is under control. But if you speak to people on the ground, Chris, they do have a different picture.

[Chris Chermak]

And Randy, let's broaden this out a little bit because as I mentioned, we've had some early economic figures weakening economies in other ASEAN nations. If you're looking beyond that, how is this crisis affecting countries across Southeast Asia? How does all of this factor into the kind of broader energy shock that we're seeing across Asia?

[Randy Mollanto]

Yeah, I just read a piece published by the Japanese state broadcaster nhk. It basically said that high crude oil prices, low Southeast Asia's economic growth in the first quarter of 2026, well, because of the higher oil prices due to the ongoing war in Iran. But it's also worth noting that Southeast Asia has very different governments and populations. So I mean, it's not a similar story across the region. The Philippines, for example, saw its GDP contract by 0.2% compared with the previous quarter because of the weaker consumer spending. Meanwhile, Thailand recorded a 2.8% increase in GDP compared with the previous quarter of 2025. Although the tourism sector has been affected, higher fuel costs have resulted in higher flight tickets, more expensive flight tickets as a result, and fewer foreign tourist arrivals. Yet Indonesia's economy grew by more than 5%, although the same center that I told you earlier, the center of economic and loss studies, found inconsistencies between two official data sources. Among them when it comes to the household dumping measurements. But eventually data is data. But we also need to pay attention to the situation on the ground. They have a very different story to tell. Chris.

[Chris Chermak]

Randy Mullanto, Founder and CEO of Red Voice Indonesia, thank you very much for joining us today. Still to come in the program, you said Sholto's killer was still at large. Well, it's either the curse or an impossible murder. Solve this, Sherlock. It may be a game to you,

[Randy Mollanto]

it isn't to me.

[Chris Chermak]

The iconic detective Sherlock Holmes returned in theatre form near his Baker street home right here in London. We'll have that and theatre news. This is the Globalist. Well, let's continue now with today's newspapers and joining me for that right here in the studio is Claudine Fry, partner at Control Risk. Claudine, good to have you. Good morning.

[Claudine Fry]

Thanks for having me.

[Chris Chermak]

How are we doing this morning in London? How is it for you arriving here at the extra early hour that is the globalist?

[Claudine Fry]

Bit drizzly.

[Chris Chermak]

Bit drizzly. I know we haven't exactly had the start of spring. Well, we wanted to start with a story that I know I've been keeping an eye on also over the last week in Cuba because there's been all of this energy. I mean, basically Cuba's saying they've run out of energy, of fuel, and now they're kind of turning the tables, warning the United States of a bloodbath if they were to initiate military action.

[Claudine Fry]

Yeah, that's right. Peace in the Guardian, picking up on comments from Cuban government members on social media who are speaking out in sort of asserting Cuba's right to defend itself and the Cuban president warning the US against military action that could lead to a bloodbath and stating very clearly Cuba does not represent a threat. This is all in the context of growing speculation about US Intentions on Cuba and the possibility that it is building what Cuban Foreign Minister Bruno Rodriguez describes as a fraudulent case for military action or some kind of intervention, perhaps along the lines of what we saw in Venezuela back in January.

[Chris Chermak]

And Claudine, tell us more about what your expectation is here from the U.S. like, do we get a sense that there is actually a military buildup? Because, of course, as we've been talking about at the top of this show, they are still very much focused on Iran.

[Claudine Fry]

This is. Yeah. I mean, the United States is quite clearly pursuing some sort of operation to influence events in Cuba. The pressure is being ratcheted up on a number of different fronts. We've had sanctions expanded. Cuba is dealing with a severe and intensifying humanitarian crisis on account of being unable to access any more oil as a result of what is essentially a blockade. Although it's not. The US has not got so far as describing its policy as such. And there is speculation about the US Planning to build up a military presence in the vicinity of the country. But it's hard to imagine how the United States could want to take on another serious military operation at this juncture. It is dealing with so many different flashpoints that are on the boil at the moment. But Trump himself has been quite clear in his intentions to be the person associated with overseeing some sort of change in Cuba. So I think we have to be anticipating that something may happen over the next few months.

[Chris Chermak]

Something may happen, but just One more on this. I mean, in a way, the US is reaching, achieving its goals right now. Is that almost fair to say with this blockade? Because the situation in Cuba right now is pretty desperate.

[Claudine Fry]

It's desperate, but at the same time, we're not seeing the emergence of an alternative to the incumbent government. They seem to be digging in. We're not aware of any signs of serious division within that administration. There have been some reports that people are expressing dissatisfaction with the government, but of course this is an environment where we don't have access to great information and it's not necessarily easy to have an accurate picture of what's going on. I think we should caveat, of course, what we're saying by acknowledging that. But at the moment there doesn't seem to be the emergence of a sort of Delsey Rodriguez type type character or somebody who could come to the fore and be an alternative to the current administration and potentially, you know, act in a way that led to some sort of agreement with the United States that a bit of a breakthrough, but. So at the moment the US somewhat achieving its goals, but at the same time a government that seems to be digging in.

[Chris Chermak]

Yeah, it's kind of like the US is trying to use its Venezuela game plan just about everywhere, but every country is different. Well, let's turn now to the Financial Times and a different story. This is about Germany. They've gone from having labor shortages to hiring freezes. Not a good place to be in.

[Claudine Fry]

Yeah, this is the FT reporting on the difficulties that particularly young people in Germany are finding securing work. And this is, this is not a, not a, not a trend that is exclusive to Germany. But the piece is making the point that it's notable that it's happening in the sort of, you know, the behemoth, that sort of economic powerhouse that we've known as Germany over the past few decades that really the wheels are coming off. This is a country that is suffering because of a number of different factors, including competition from China, as the report notes, as well as high energy costs, which have really been very damaging for productivity in all the big manufacturing countries across Europe, but certainly within Germany. And so we have got a worrying trend with respect to unemployment, which is the rate of unemployment is rising more quickly and the number of people unemployed has topped 3 million. And that is considered politically sensitive. There is some speculation inevitably that perhaps this is linked to AI, Although, as the piece notes, economists are just against linking, you know, drawing conclusions too prematurely around the linkage at the moment between advancements in technology and, and issues around unemployment and difficulties that young people are having finding work. But nonetheless, there is definitely a lower number of jobs being advertised at the moment in Germany. And that might reflect companies thinking that more junior positions can be replaced by tech. But also Germany is an environment where it's not very easy to make people redundant. So perhaps companies are being extra cautious about hiring as well as actually planning to make some very, very heavy layoffs. I mean, some of the big German names that we know very well are making enormous cuts to their workforces. Volkswagen, for example, planning to axe 50,000 jobs by 2030.

[Chris Chermak]

It is quite a change when, I mean, I was in Germany reporting about a decade ago and at that time with the immigration sort of coming in from Syria, there was actually the talk of the need for workers and labor shortages. That's what's shifted. And the government seems powerless to do anything about it. They're unpopular as well.

[Claudine Fry]

Well, deeply unpopular. This all plays into, yes, a situation where we have Chancellor Mertz under a huge amount of pressure, again, not alone in Western Europe in being a government leader who's exceptionally unpopular at home and trying to make dramatic changes to the economy by sort of debt, fuel spending, particularly on defence. Defence spending in Germany is rocketing and of course in an environment where we also have the growth of hard right parties, AfD in particular on the rise. And this employment situation is certainly not going to help Mertz to improve his position.

[Chris Chermak]

Well, let's look at another story now from the New York Times about Ebola, which there has been a massive outbreak in the Democratic Republic of Congo. Apparently this raged for weeks.

[Claudine Fry]

Yeah. So this piece in the New York Times is drawing our attention to the fact that, that unfortunately we probably just don't know currently the scale of what we're dealing with yet with respect to this Ebola outbreak. It's one that the WHO World Health Organization classified as a public health emergency of international concern a couple of days ago. That is its highest level of alarm. It is, of course, what was the sort of status of the COVID 19 pandemic for many years. Hopefully this Ebola outbreak will be contained. But the piece quotes local officials who are essentially confirming that, that we just didn't capture early enough what was going on in this remote part of the Democratic Republic of Congo where it first emerged. The Director General of Congo's National Institute of Biomedical Research said simply our surveillance system didn't work. This appears to be because of a shortage of tests, technical delays. But also it's a particular strain of Ebola which the test, tests that were available in the particular area where the disease emerged weren't capable of actually detecting. So we already know that this case, this particular outbreak has affected people in Democratic Republic of Congo and Uganda and it's unfortunately inevitable that it will probably be detected elsewhere as well.

[Chris Chermak]

Well, absolutely, and we'll continue to monitor that over the coming days and weeks. But finally, Claudine, a story about how a Swatch watch became a collector's item and then caused chaos everywhere.

[Claudine Fry]

Yeah. So this piece in the Independent is trying to explain for us why people went so bananas trying to get hold of this brand new watch which Swatch has developed. Swatches is well known for creating relatively affordable, cheerful and, and sort of snazzy watches. But, but, you know, typically not sort of completely bankrupting in terms of how much they cost, but they've done a tie up with Swiss brand Audemars Piguet, whose watches actually normally start to be to be sold at around £40,000. So an enormous amount of money for a watch. So this, this tie up of a sort of trendy but affordable brand with a super high end luxury brand has caused an absolute frenzy, causing riots virtually at shops across different parts of the UK as well as in France, the Netherlands, Italy and, and apparently in New York and the United States as well. The police were called as people were camping out and starting to get violent in their, in their desperate attempts to get hold of these watches at the weekend. And this article is trying to help us understand what on earth was going on here. And it's quoting a couple of brand experts who talk about the fact that we're basically very, I mean, partly there's a, there's an opportunity to make money here. So to some extent people are probably trying to get hold of the watch watches to then resell them and make a profit. They're already on platforms such as ebay for much more money than they would be originally sold for. But also there's something about, you know, this ability to get hold of something that is, that is luxury at a low cost. There's also something quite clever about the way that the watch was branded, that we knew very little about it beforehand. So there was that sort of sense of, of mystery about it before it was actually available in the shops. And then, you know, that got everyone talking. Then there was this sort of sense of urgency, excitement, exclusivity. As soon as people heard that there were cues. Establishing that in itself made people think, gosh, what's going on? I need to be there as well.

[Chris Chermak]

We're all just watching somebody else. Is that what it comes down to? We want what they have.

[Claudine Fry]

Exactly that FOMO factor? Absolutely. And the queuing itself is something to participate in, to share and document on social media. So the queuing for something desirable in itself is something we don't want to miss out on.

[Chris Chermak]

Absolutely. I remember that when the iPhones first came out as well. Claudine Fry, partner at Control Risks, thank you very much for joining us today. This is the Globalist on Monocle Radio. Now here's what else we're keeping an eye on today. Three people have been killed by two teenage gunmen who opened fire on an Islamic center in the Californian city of San Diego. The attack on San Diego's largest mosque is being treated as a hate crime. The two gunmen, dressed in camouflage, reportedly turned the guns on themselves after the attack. The death toll in Lebanon has reached 3,000 people since the new conflict there began at the start of March. A US brokered ceasefire was extended for 45 days over the weekend, but Israel and Hezbollah did continue strikes yesterday. Russian President Vladimir Putin is on his way to Beijing for a meeting with Chinese President Xi Jinping just a few days after Donald Trump's visit to China. This year marks 30 years of China and Russia's so called strategic partnership. The two leaders will discuss bilateral relations and the building of a gas pipeline between the two countries. And OpenAI has won a case brought by Elon Musk that had claimed the company illegally transitioned from a non profit to a for profit venture. The jury in California found that Musk brought his case for damages too late, likely clearing the way for what could be one of the biggest ever IPOs by the technology company. This is the Globalist. Stay tuned. You're back with the Globalist. Now. New York City's annual design week, known as NYC Design, is underway in the Big Apple. And here to tell us all about it is Nick Manese, Monocle's design editor, joining us from the Big Apple. Nick, how you doing over there?

[Nick Manese]

I am doing superbly, Christopher. How are you?

[Chris Chermak]

That is very good to hear. Superbly. Does that mean you've seen lots of good design stuff, lots of highlights over there, the things that really get you going?

[Nick Manese]

Truly? No. I've seen lots of amazing things. And I think it's also refreshing for us as Monocle to have a presence here in the US during their probably most significant design event or one of their most significant design events. I mean, we sort of dipped into Design Miami last year. But in terms of trade shows, I mean, you mentioned New York City Design Week, but it is headlined by icff. So the International Contemporary Furniture Fair, which is. Which is held in the Javit center, which is an amazing building by IM Pei. So I'm kind of here in the hustle and bustle of the more commercial side of the Design week because obviously there's all the amazing showrooms and product launches, etc. Etc. But I'm kind of in the beating heart of the commerce.

[Chris Chermak]

Is the furniture part of it bigger than the NYC design? I'm curious in part because I did read, I understand they're going to be splitting up next year and that the Furniture Fair will. In November.

[Nick Manese]

Wow. This is an. It is an awkward breakup. This is like finding out your parents are getting divorced at the kitchen table. I. I missed that little bit of news. There's not been. There's not been discussion about it so much here yet. I mean, I think people are very much focused on. On, I guess. I guess the, the here and now. I think, you know, maybe. Maybe that shift in programming also kind of makes sense. I think November is perhaps a more. A more natural time for the cycle of. Of design and where the US Sits in. You could probably roll straight into Design Miami. But I guess in terms of what's being talked about here, it is product. It is about furnishing new, new projects. I mean, I think a highlight for me personally and a sense of discovery that comes with it, with it as well, is there's a brand called British American Camping, which build these incredible elevated tents, but also outdoor furniture, so chairs, fire pits, these sorts of things. And I think, I think this is very much where the discussion is right now. It's like, what's new? What do I need for my home or for my office or my big project?

[Chris Chermak]

And Nick just set up for us what this looks like in New York. I mean, how much does the Design Week and the Furniture Fair take over a city as big as New York City?

[Nick Manese]

I mean, I think it's. The scale of the city is obviously the challenge. I mean, I think the designers are certainly clued into it. And if you talk to people, I think there's a lot of party fatigue. We call it Design week. It's really 10 days. I'm. I'm personally gearing up for Monocle's party tonight in partnership with Thuma, who are an amazing homewares and furniture brand. But I, I think, I think, you know, in New York, it can be. It can be. It can be difficult to, To. To make yourself notice, which is why, again, I think something like icff, It's. It's very similar to Salone del Mobile and Milan Design Week. Having that kind of anchor trade fair, a point for people to converge and come together, I think is really, really key. I mean, even here, I'm. I'm in an amazing room, booth by OFS, this, this U.S. brand, tucked by the main stage. It's a little monocle recording hub. And it's, it's just a chance for, I, I guess people to come together. So I, I will say, yeah, maybe, maybe, you know, Milan Design Week, you certainly know that it's happening. New York Design Week, because of the scale of the city, perhaps flies under the radar. And then obviously there's. There's things like the Mets were playing the Yankees in the Subway series, so that, you know, you've got people focused on the baseball, you've got all these amazing new galleries and museums opening. But it's just nice to be in amongst all of that. And I think that's really, you know, that's perhaps the best way to present design. It's showing it in a bigger context.

[Chris Chermak]

Well, and just tell us a little more about why this is important for the broader United States. Where does it fit into that? And the calendar you do have, as you said, Miami as well, which we've talked about before. How does New York Design Week fit into the broader US Context? Context?

[Nick Manese]

Well, I think, you know, if we're talking about the US as a. As a design culture, it's, I would say it's perhaps not as strong as some of the European countries, those powerhouses like Italy, like France, like Denmark. So I think having. Having something that kind of reaffirms what America is and what America stands for from a design perspective is really important. And you see all the brands here, they are, are. Lots of them are made in the U.S. everyone's designed in the U.S. sure, there's international delegations, there's a bunch of Brazilian brands, there's, you know, a huge delegation from Italy. But by and large, it is American design. And I think. I think it's giving people here something to be proud of as well. I remember this is. This is anecdotally, but speaking to the team at the Invisible Collection, which is an amazing gallery that has, you know, spaces in the US and, and France, and they were talking about the differences in customer base in France. They're selling mostly direct to consumer because there's a confidence in the French market. There's a, you know, amongst people that they know what good design is. Whereas in the US they sell often directly to interior designers. Because people, again, there's maybe not that design culture. So people, the general public, and you know, I'm speaking with broad brushstrokes here, but the general public maybe don't have that confidence. So they do turn to designers to furnish their wares. And I think something like ICFF and the broader New York City Design Week. Whilst New York City is really noisy, trying to talk about design in the United States, I think is a wonderful thing and should be celebrated.

[Chris Chermak]

Well, absolutely. And just put Monocle into that as well. One last time. Finally, Nick, because Monocle's involved in this and you briefly mentioned it with the party coming up tonight. But Monocle has its own cafe and shop, I understand, with Thuma as well.

[Nick Manese]

Yeah. So for, for the whole month of May, so you've got a little bit longer to come and check it out. We are doing a pop up with Thuma at their store in soho so you can come and get, you know, a beautiful flat white and buy the latest Monocle books and magazines and products too.

[Chris Chermak]

Nick Manese, Monocle's design editor in New York, thank you very much for joining us. You're with Monocle Radio.

[Rebecca Christie]

You

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[Chris Chermak]

You're back with the globalist. Now. The 2026 FIFA World cup is less than one month away and with all of the energy tumult around the world, which you heard at the top of this, there is going to be a focus on planes and jet fuel prices, but also there is a climate aspect. And for that we're joined now by Sheena Rossiter, Monocle contributing editor in Edmonton. Sheena, great to have you on the show.

[Sheena Rossiter]

Thank you so much for having me, as always.

[Chris Chermak]

So let's look at the World cup. Massive event, three countries, in this case U.S. mexico and Canada. Lots of travel in between them. How does a World cup generally impact the environment?

[Sheena Rossiter]

Environment, yeah, it's always a big concern when you have these sort of mega sporting events. How does it impact the environment? Now, looking back at the last World cup in 2022, that was awash with so much controversy, the environment just being among them. And that was when players needed what was known as cool down time and Sort of water breaks from the extreme heat that they have over there in Qatar. However, like all World Cups cups, they all have controversies and this one is not shy of that. Some of the big issues that have been facing this World cup are the eye watering ticket prices, which are far out of reach for so many people. There's also questions about Iran's participation as the president of one of the host countries continues to threaten and wage war against Iran itself. So it's certainly a politically charged World cup, but it's also in fact the most polluting. So according to a recent report that was done by the New Weather Institute, this World cup in 2026 will produce nearly twice the greenhouse gas emissions of past tournaments, historical averages.

[Chris Chermak]

And that is incredible, given that, as you say, you look at something like Qatar and the way that they had to use air conditioning for the heat, I'm guessing that's going to be part of the thing they have to do. Maybe say in southern United States, places like Miami or something like that as well. But we. Where are all these greenhouse gas emissions and energy use coming from?

[Sheena Rossiter]

Really, what it's coming from is air travel. So scientists have conservatively projected that this tournament will generate around 9 million tons of carbon dioxide equivalent. That's because this World cup is hosted between three countries that spanned all across North America, with games taking place in Canada, the United States and Mexico. And, and just air travel alone will compromise 7.7 million tons of this carbon budget. And that's four times more than that of the average tournaments held between 2010 and 2022. And researchers have even done an upper kind of worst case scenario where the worst case scenario could be 13.7 million tons of CO2. Now, now that may sound bad, but it's really just worse than ever before. So this is the first time FIFA's expanded the tournament from 32 teams to 48 teams, which is another reason why you're expecting to have so much carbon emissions, because there's just that much more travel and there isn't a lot of train travel in the United States. States in Mexico, certainly here in Canada we don't really have trains going across the country. And if you're going from Vancouver to Toronto, that is about 4,000 kilometers. So you really can't get there without going across country. But it's just important to mention as well, even though this is a lot of CO2 that's being anticipated to be generated from this tournament, 9 million tons in total, that's still far lower than the 5.9 million tons of CO2 that went into the air last year as the United States still remains one of the most polluting nations on the planet.

[Chris Chermak]

Well, and what has FIFA said about this? Obviously as you discussed there three countries, massive air travel coming at a time where air travel is in the focus also because of fuel prices as well. Is there something that FIFA does can do to offset some the of of this?

[Sheena Rossiter]

Well, there certainly has been finger pointing at FIFA considering that they're doing what we know is greenwashing, saying that they are doing good things for the environment when they really aren't. For example, at the last World cup in 2022, the president of FIFA, Gianni and Pintino called that tournament a green card for the planet. And there was aim to make it the last World cup that that was going to be carbon neutral. However, just to give you insight into the last World cup there was a big about a thousand inbound flights per day. But what's important to mention that makes this one more polluting than the last one is Qatar was a small country and geographically speaking the stadiums were close together. They were linked by metro and buses. But in this World cup teams are going to have to go between their games and their training bases. They're all effectively crisscrossing the continent and racking up thousands of of miles in flights times 48 teams. So for context there's going to be 104 matches spread across 16 stadiums in three different countries. Now another thing that's raising a lot of EyeBrows is just two years ago in 2024 FIFA signed a four year partnership with Aramco, the state owned Saudi Arabia energy behemoth. That's the largest corporate greenhouse gas emitter on earth and responsible for about 4% of emissions since 1965. And a lot of the players protested that more than 100 professional female footballers, including some of the biggest names, signed a letter condemning the partnership, citing the environmental impacts as a serious problem. And the team captain for for Team Canada also wasn't shy about commenting on that Aramco partnership. So a lot of players themselves have been critical about FIFA's partnership, saying that they aren't really doing much towards the environment and they're only perpetuating it through these types of partnerships.

[Chris Chermak]

Sheena, just finally before we let you go, how are things shaping up over there in Canada where you are in Edmonton is there despite all of that

[Sheena Rossiter]

World cup fever, it is starting to gain a little bit of momentum here. On June 1st we will be hosting a friendly match between Team Canada and Uzbekistan. And that will be one of two friendly matches that Team Canada will take part in before the big kickoff in mid June. They'll have one here in Edmonton, followed by one in Montreal, and it is kicking off a little bit. World cup is always a big event, especially because Canada is such a melting pot and you find people from all over the world who live here and still support their home countries. They are looking forward to the games for sure themselves and less concerned necessarily about the greenwashing like we spoke about per se, because they are massive football fans.

[Chris Chermak]

Oh, and you won't have to travel yourself too far in Edmonton if you're going to be enjoying that atmosphere. Sheena Rossiter, Monocle's contributing editor in Edmonton. Thank you very much for joining us. This is the Globalist on Monocle Radio. Now here on Monocle Radio, we head to Austria because while Fernando Augusto Pacheco, Monocle's senior correspondent and Eurovision correspondent, was in Vienna reporting on the Eurovision Song Contest this weekend, he also met one of Austria's most famed musicians, Parof Stelar. He's known for the electro swing genre. Stellar also performed the interval act of the grand final of the song contest at the Wiener Stadthalle on Saturday. Here is Fernando speaking with Parov.

[Fernando Augusto Pacheco]

Marcus or Parov Stelar. What a pleasure talking to you. I've been a fan for years. My first question to you, of course we have to talk Eurovision. I mean, I've seen a little bit of your performance. How does it feel for you to be. I mean, it's a massive event. It's the biggest music event in the world. Right. So tell us a bit more. How do you feel representing Austria at the big stage?

[Parov Stelar]

Well, it's difficult to say. I think, of course, this is the biggest live show in television in the whole world, so. But I always try when I go on stage not to think too much about the audience. Audience who is watching over television, mostly try to connect to the crowds in front of the stage. And that helps because I think when you have in mind, okay, 200 million people watching every step, every glimpse, so it could be that you're getting nervous. But thanks God, I had a routine of more than 1,000 live shows, so that makes it a bit easier.

[Fernando Augusto Pacheco]

And you do represent for me at least Austrian music. You know, when people say Austrian music, music, you know, people say Falco and they say part of Stellar. So I'm glad the ORF invited you for this big event. You'll be performing a new song as well, right?

[Parov Stelar]

Yes, we are performing Black Lilies. So this is a brand new song. We wanted to play a different song, you know. And it was more, I would say, slow and blue, not bluesy, but more heartbreaking song, you know. And then by accident, accident, we stumbled over this speed and this loop with a kind of the brass music. And then it's getting big, as you know. And Georg told me, he said, marcus, we spent so much work for that song for the previous one, but we have to bring that one on Eurovision. Are you crazy? I said, we have two days, you know, because the whole orchestra was booked already for recording session, so they got the sheets and the learns the. The old song said, let's try this. Said, okay, why not? So and it was for me, not that easy to get in touch with Florian because I knew that he already spent some work for the old song. So yeah, that was the starting point of that.

[Fernando Augusto Pacheco]

And what can you tell us about the song? Because I feel in your last album, you know, there's been kind of some new genres that you were kind of playing around. But this one I feel, I think it's very power of stellar in my opinion. It's very kind of. There's the electro swing vibes to it as well.

[Parov Stelar]

Yeah, definitely. I mean, of course people say, ah, yeah, power of back to the roots. I read all the comments, but the truth is I never left my roots, you know. But I'm always curious. I'm always curious to try out things. And of course if you. If you have a listen, for example, to Artifact, you will find a lot of parts also in Black Lilies. So it would be boring just to. To hook always on one line, on one track, on one style. So I think Blacklili has a lot of influences, a lot of different genres in the song.

[Fernando Augusto Pacheco]

Will there be any more new music coming out this year?

[Parov Stelar]

As long as you see me alive and I can answer questions, I will make music, you know. And the funny thing is Black Lilies, the song we're performing on the Eurovision, in fact, it's a story about a ghost, you know. This is the story about a woman, a young woman who felt in love with a ghost. And she quickly realized that from now on I'm not able to love a human man anymore. And that's her story. And suddenly we. I felt the story is much bigger than one song, so I continue writing. So there is the one song with a grandma that you find out already. The grandma wrote a letter to her granddaughter. Be careful. If you ever met this kind of spirit, don't kiss him, you know. So and it continues and said, wow, this is the whole story of maybe a family or decade and of people who are in love with the ghost.

[Fernando Augusto Pacheco]

That's fantastic. I'm very curious to listen to the new music. What are you inspired? Do you listen to new artists or do you repeat? I'm very curious what's on your playlist when you're at home during the weekend.

[Parov Stelar]

Different styles. You know, most inspiration is in daily life, not the big happenings. I always bring the example of I saw a small cat playing around and from that experience, I said, how does it feel for this little cat? Full of joy, full of life, you know, how can you translate this into music? And then cat groove was born. And what I do is when I'm painting, I'm listening to a lot of classical music. Georg is much deeper in it, so sometimes I show him as like, look, listen to that. It's really great.

[Matt Wolfe]

Yeah, yeah. But there is a better recording of that.

[Parov Stelar]

So he's the pro. I'm just enjoying classical piano, everything. I love all this kind of French electronic music from justice to air. So while it's a widespread field, I would say.

[Chris Chermak]

Parof stellar there. Speaking with Fernando Augusto Pacheco. It was quite a performance at Eurovision. I enjoyed it as well. His song Black Lilies is out now. You're listening to the Globalist on Monocle Radio. Well, finally on today's show, it's time for a roundup of theater news. And for that I'm joined, as always, right here in the studio by Matt. We're Matt Wolfe, theater critic for the International New York Times. Matt, good to have you, as always.

[Matt Wolfe]

It's lovely to be here, Chris, as always. Thank you.

[Chris Chermak]

So, Matt, we're going to flip the script to start this off, because I am actually the one who has seen Sherlock Holmes.

[Matt Wolfe]

I like it, Chris. Go for it.

[Chris Chermak]

And how was was a fabulous show, I do have to say. I just find it so nice and interesting that London would go back to hosting a play about Sherlock Holmes. Cause you do have like a museum here. But they haven't necessarily had. They haven't had play that is running like. You have other classics like the Mouse Trap or something like that that are very London Agatha Christie. But Sherlock Holmes was not a thing here.

[Matt Wolfe]

No, but to have it also in this area where we're sitting, which is Sherlock Holmes corner of London, as it were. Near Baker Street.

[Chris Chermak]

Exactly. So if anyone visits, it is right here, the Regents Park Open Air Theater. We are currently near Baker street ourselves, and so it's not far from here. And it was a fabulous performance. Matt, you were telling me ahead of this, the Regents Park Open Air Theater, we both love it, but it doesn't normally do plays.

[Matt Wolfe]

No, I mean, because it's a big, you know, expensive space. You tend to have big shows and big shows tend to be musicals. So they have quite honorable tradition of big musicals like Legally Blonde and Into the woods and hello Dolly. This summer they're doing Cats.

[Chris Chermak]

They are doing Cats.

[Matt Wolfe]

Cats has had a big resurgence on Broadway this season with a show called Cats, the Jellicle Ball, which sounds totally wild. I think that the Regents park production will probably be a little tamer, but it'll be fun to see Cats kind of crawling through the. The night sky.

[Chris Chermak]

That's true. The night sky, the woods. You've got the trees all around there. And for what it's worth, just to say, Sherlock Holmes was quite a performance. So they did use the fact that this was a massive stage, even if it wasn't a musical acrobatic act. So they even at some point they're like scaling the theater itself and there's a fight scene, not to spoil it, running around the theater. So they did, they did go off.

[Matt Wolfe]

Well, that makes sense. There's no reason to do a show there without taking advantage of.

[Chris Chermak]

Exactly, exactly. Right. So I would recommend that. But Matt, you have a number of recommendations yourself. We've got three giant actors coming to the stage here at the West End. Let's start with the return of Equus.

[Matt Wolfe]

Yes, I mean, it's amazing to have Toby Stevens, Ralph Fiennes and Gary Oldman all converging on London Theatre, as you say, Chris, at the same time. And Equus is the most recent opening. It opened last night, in fact, at the Minier Chocolate Factory in Southwark. And this is a play that is near and dear to my heart. When I was a theater mad teenager many, many years ago, I saw the Broadway production of it, original Broadway production with Richard Burton in the part that Toby Stevens is now playing. And it quite literally changed my life. Now, not every actor, of course, is Richard Burton, although Ralph Fiennes actually comes kind of close. But Toby Stevens plays that part of a tortured, self doubting psychiatrist named Martin Dysart who ends up caring for a 17 year old stable boy named Alan Strang, who has blinded six horses with a metal spike. And this, the construct of Peter Shaffer's 1973 play, which is incredibly visceral. And what's interesting about it in the decades since is that what the play supposes is that by the boy reenacting what he did to the horses, that will somehow cure him. And there's been much debate in the subsequent years as to whether that's not a rather facile view of psychiatry. To relive something is to get over it. Not necessarily true, however, what is incontrovertibly true is the theatricality of the play and the juicy acting for the doctor. And in this case I have to shout out to Noah Valentine as the young anguished Alan Strang, who It's a remarkable performance. Passionate, physical, scary. And to the six performers who collectively play the equine life, all the various equuses, as it were, of the play so very much worth seeing. Lindsay Posner has really delivered a very dynamic production and I think it's gonna be a big.

[Chris Chermak]

And that just opened yesterday as well here in London, so people can go see that. And you did bring in Ralph Fiennes there with the Richard Burton linkage in terms of his own performances. What's he up to?

[Matt Wolfe]

Well, the thing about Ralph Fiennes, just his voice, Chris, no one really aside from Richard Burton, is long gone. You don't really hear stage voices like Fonz's anymore. It's so resonant and sonorous and deep. And it makes sense in Grace Pervades, which is the play he's in at the Theatre Royal Haymarket that he is playing a legendary act. So in Grace Purves, he plays a giant of the Victorian stage called Henry Irving. His costumes are Randa Raison, who plays a giantess from the same era, Ellen Terry. And it's really a throwback, it's kind of a heritage theater piece by Sir David Hare about a bygone era of theater that we will never see again. So it's a venerable modern day playwright. David Hare is not far off 80 at this point. This is his 32nd play, casting a glance back at what theatre used to be. It's a little kind of safe, probably for some tastes. It couldn't be more different from Equus in its dynamic in every possible way. But I think in terms of attracting a summer crowd who want to see a big star deliver the goods, they won't feel shortchanged.

[Chris Chermak]

And just finally we have 30 seconds. Matt, tell us about Gary Oldman.

[Matt Wolfe]

Gary Oldman, back on stage, age 68, playing a 69 year old in a Beckett play called Craps Last tape. Querulous, questing, remorseful. And boy, can he manage a reel to reel tape record brilliantly well as he looks back on a life unfulfilled, but at the same time fulfilling an audience that has come to see the star of Slow Horses on stage.

[Chris Chermak]

Three giant stars in London, Matt Wolfe, a giant star in his own right, theater critic of the International New York

[Matt Wolfe]

Times, Lush on air.

[Chris Chermak]

Thank you for joining us. That's all the time we have for today's program. Thanks to our producers Angelica Jobson and Anita Riota and Ryuma Takahashi, our researchers Josefina Astrid Nager Gomez and our studio manager, Lily Austin, with editing assistance from Christy o'. Grady. The briefing is live at midday in London. The Globalist returns at the same time tomorrow. I'm Chris Termak. Thanks for listening.

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