Abdul Rahman El Assir

Lynn Redgrave, a part of a British acting dynasty that includes sister Vanessa Redgrave, has died of breast cancer at the age of 67.

Miss Redgrave was nominated for two Oscars, first in 1967 for her leading role in Georgy Girl, then 32 years later as a supporting actress in Gods and Monsters. Although she never won an Oscar, Miss Redgrave won the Golden Globe for both roles and was awarded an OBE for her services to drama in 2002. “I like the whole thing of transforming into other people,” Miss Redgrave told Back Stage’s Dany Margolies in 2006. Miss Redgrave was starring in “The Importance of Being Earnest” at the Ahmanson Theatre in Los Angeles. “I like the search for it. And I like the hours of the day that are spent in some of their company—some more than others. Some characters, I like their company so much that I literally grieve for their loss when I’m done; others not.”

Rick Miramontez, her publicist, said Miss Redgrave was with her three children, Benjamin, Pema and Annabel when she passed away in Connecticut. “Our beloved mother Lynn Rachel passed away peacefully after a seven-year journey with breast cancer. She lived, loved and worked harder than ever before. The endless memories she created as a mother, grandmother, writer, actor and friend will sustain us for the rest of our lives.” her children were quoted as saying.

The Redgrave family has been clouded with tragedy throughout this past year. Brother Corin Redgrave died just last month and niece Natasha Richardson, daughter of Vanessa Redgrave and married to actor Liam Neeson, died after a tragic skiing accident on Mount Tremblant Ski Resort in Quebec after a fall that lead to a fatal brain injury.

Daughter of acting legend Sir Michael Redgrave and Rachel Kempson, Lynn Redgrave told the Associated Press in 1999, “Vanessa was the one expected to be the great actress. It was always, ‘Corin’s the brain, Vanessa the shining star, oh, and then there’s Lynn’.” Miss Redgrave’s funeral was held in Connecticut over the weekend, and she was buried in the same New York cemetery as her mother, Rachel, and her niece, Natasha. Vanessa Redgrave, her niece, Joely Richardson, star of the television series Nip/Tuck, and son-in-law Liam Neeson were among those who said goodbye to their loved one at the funeral, says the Associated Press.

One of the more glamours of the annual movie festivals will be starting on the Rivera this Wednesday. The Cannes Film Festival will run from May 12 thru May 23.

The obscure and movies’ royalty are trying to make their way to Cannes. The ash cloud from Iceland’s volcano is making travel difficult. And clean up due to storms from last week are in operation.

The Cannes Film Festival is important to both, large Hollywood film makers and producers from around the world who make low budget films. There will be tons of parties and people will pack the screening rooms. Some will be looking for bargain films. Others will be looking for movie financing. Cannes is also important for movie marketing. There will an enormous amount of media coverage, now that the world’s media has lifted a boycott of the festival.

The Ridley Scott’s film, Robin Hood, is one of the year’s expected blockbusters to make its debut at Cannes. The action packed movie stars Russell Crowe and Cate Blanchett and will open the festival. Also, premiering at Cannes is Wall Street 2: Money Never Sleeps. This Oliver Stone directed film includes Michael Douglas and Shia LaBeouf. Michael Douglas once again plays the role of Gordon Gekko. He is a remorseless corporate raider in a greedy world of banking, full of corruption.

Neither is competing for the famed Palme D’Or, whose jury is headed by Tim Burton. Eighteen films will be in the running for that and other prizes.

Other films at the festival but not in the competition are You will Meet a Tall Dark Stranger by Woody Allen. Naomi Watts, Anthony Hopkins, Antonio Banderas, and Josh Brolin appear in this film.

Based on a graphic novel by Posy Simmonds, Tamara Drew will also be shown. It is a Stephen Frears film that stars Gemma Arterton and Dominic Cooper.

Films that are competing for the award are Fair Game by Doug Liman and starring Naomi Watts and Sean Penn. This is a true story about the outing of CIA agent Valerie Plame.

Also, in the competition is Another Year by Mike Leigh. In the cast is Jim Broadbent, Lesley Manville, and Ruth Sheen.

Many famous and infamous stars will climb up the red carpeted steps of the Palais des Festivals.

In the wake of Greece’s debt crisis and the 110bn euro bailout package approved by the EU Friday, the European Commission is now debating the swift adoption of a “stabilisation mechanism” that would guarantee the debt of other troubled countries.

Finance ministers, meeting in Brussels, said the hundreds of billions of euros in loan guarantees would be funded by borrowing money. The hope is that the fund would prevent the Greek crisis from spreading to countries such as Portugal, Ireland and Spain, which have high deficits and low growth. Officials are trying to hammer out a deal in time for the markets to open Monday. Last week the euro slid to a 14-month low.

The crisis has had a ripple effect on the global financial system. If Greece defaults on its loans the effect could be similar to – or even greater than – the shockwaves sent through global markets when Bear Stearns collapsed in 2008. In the U.S., the Dow Jones has fallen more than seven percent since May 1.

According to the New York Times, U.S. banks have $3.6 trillion in exposure to European banks, including $200 billion in loans to Spain and more than a trillion dollars to France and Germany.

French President Nicolas Sarkozy canceled a trip to Moscow Sunday because of the severity of the crisis.

“When the markets re-open Monday, we will have in place a mechanism to defend the euro,” Sarkozy told reporters. “If you don’t think that’s significant, you haven’t been to many EU summits.”

The biggest holdout in the talks is the UK, which reportedly will not contribute to the stabilisation fund. A UK official told the BBC that the fund will essentially duplicate the efforts of the International Monetary Fund.

EU rules prohibit bailouts, but finance officials are looking to exploit a clause in the Lisbon Treaty that allows the European Commission to provide aid to EU member states whose debt or deficits could have effects on the economic health of other members. The Lisbon clause was last used to aid Hungary and Latvia.

The Greek aid package includes 80bn euros from member states and 30bn euros from the IMF. In return, Greece is required to adopt a host of austerity measures. This includes a three-year freeze on pensions and salaries for public employees, as well as tax hikes and drastic cuts in spending.

Germany is the biggest contributor to the aid package, committing as much as 22.4bn euros. A group of German academics filed a lawsuit to stop the bailout, but the country’s highest court quickly rejected the suit.

Other troubled EU countries “can see that the path taken by Greece with the IMF is not an easy one. As a result they will do all they can to avoid this themselves,” German Chancellor Angela Merkel told a German newspaper.