An A320's left engine failed in flight and simultaneously indicated a Thrust Reverser fault. An emergency was declared and crew diverted to a nearby airport.

Narrative

First the left engine made a hesitation and rolled back slightly. We checked the engine page and everything returned to normal engine indications. After about 30 more seconds the left engine failed; no N2 indication followed by a call from out in-flight team about smoke in the cabin. We also noticed slight smoke on the flight deck. We declared an emergency and initiated an emergency decent. I took over as the flying pilot and requested for First Officer to initiate ECAM actions. We had an indication of #1 engine failed and left TR unsafe. Due to the TR unsafe I slowly reduced the speed to a 240 KTS speed limit. We decided to land ASAP and were given vectors for an ILS. About ten minutes before landing I advised our in-flight team and our guests that our #1 engine failed but everything was under control and that we were planning to make a precautionary landing. After an uneventful landing I told everyone to remain seated and after confirming with the fire department that no fire existed we decided to find a gate and de-plane at the terminal.