Lehár's wonderful operetta, freshly topical in its themes of European national bankruptcy, still holds its place in the repertoire; it's the only one of his pieces that does. Both ENO and Opera North have staged it in recent years, and it's easy to hear why. But the operetta vocal tradition, which set store by elegantly sensuous singing, and which was still so strong in the mid-20th century, no longer exists outside Vienna; in this English-language concert performance, that showed.

Not that the performance lacked energy. The engaging Simon Butteriss not only directed the staging but performed the amanuensis role of Njegus. Acting as a lively narrator, he delivered a spirited text that was peppered with contemporary references to bankrupt Greeks and Kaiser Merkel. The piece never dragged, with John Wilson's stylish conducting, and the Philharmonia in fine form.

Yet the Merry Widow is not just a string of lovely tunes: it's a stage show, full of extras, parties, flirting and dancing which a semi-staged version can neither afford nor provide, and whose absence was cruelly felt. The action, moreover, depends on a central performance of commanding divadom; although Claudia Boyle looked lovely and hit all the notes, she was unable to dominate the show, or sing with sufficient worldly authority to make Hanna Glawari the cynosure she needs to be. Sadly, Daniel Prohaska as her lover, Danilo, proved rather dull – vocally and in bearing alike.

It did not help that all the principals were inconsistently miked: in the first act, they were sometimes overwhelmed by the orchestra; after the interval, they were occasionally too loud, and even a touch shrill. Still, there was lots to enjoy, with a stalwart performance from Alan Opie as the ambassador, and stylish contributions from Sarah Tynan and Nicholas Sharratt.

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