Luhrmann to direct 'The Great Gatsby'

Baz Luhrmann has bought the rights to The Great Gatsby, insisting that the pre-Depression novel parallels the current economic climate.

The Australia director claimed that F. Scott Fitzgerald's literary classic, which details the transition of America from the Roaring Twenties to the Great Depression, could be used to teach people about their own financial state.

"If you wanted to show a mirror to people that says, 'You've been drunk on money,' they're not going to want to see it," he told The Hollywood Reporter. "But if you reflected that mirror on another time they'd be willing to.

"People will need an explanation of where we are and where we've been and The Great Gatsby can provide that explanation."

Luhrmann also revealed that he hoped to get started on Gatsby soon because of the obvious relevancy of the story.

"I'm going to move faster than I have before. I'd be surprised if it's another seven years," he said, referring to the time that elapsed between Australia and his previous film Moulin Rouge.