Austrian director Stefan Ruzowitzky's movie tells a terrible but strangely enthralling story, focused on the moral evolution of Solly, the counterfeiter. His complexities -- his desires, fears, and inclination to cheat -- are shrewdly visible in Markovics' remarkable performance. In part, this complexity is achieved by his comparison with other prisoners: former activist (anti-Nazi) printer Adolf Burger (August Diehl) and sensitive Russian art student Kolya (Sebastian Urzendowsky). Equally mesmerizing is Solly's relationship with camp commandant Friedrich Herzog (David Striesow), who at times seems to think of himself as Solly's "friend" -- or at least a colleague in their illegal enterprise -- while also enforcing his power in vile displays of sadism.
The film is also beautifully shot and structured. Rather than taking a more conventional approach -- slow, long takes and somber stationary framing -- the difficult emotional and moral situations of The Counterfeiters are conveyed with a handheld camera and a variety of images: tight shots of shadowed faces, or distant observation of the lonely, bent-over forms of men in dire straits. Such careful, nuanced aesthetic choices reflect the perpetual shifting of Solly's mind as he strives first to protect himself from the Nazis, then to outwit them, and at last to face them ... and resist becoming a monster himself. Though he's surely broken by the experience, he also finds a resolve and capacity for ethical assessment.