Today Leaked: Tsipras letter concedes on many major points (FT)
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Greek elections: Syriza’s date with history

In Europe

ATHENS | By Nick Malkoutzis via MacroPolisSyriza leader Alexis Tsipras is following a well-trodden route by trying to force early elections over the presidential ballot. Several others before him have tried to exploit the loophole in the Greek constitution which means that snap polls have to be held if 180 MPs cannot be found to back a presidential candidate. The most recent opposition leader to follow this tactic was PASOK’s George Papandreou in 2009. 

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World economy

The Fed’s motto: Mistakes should be repeated!

SAO PAULO | By Marcus Nunes via Historinhas | Fed officials have great difficulty in thinking outside the box, ceaselessly repeating themselves. If they stopped to think for a moment they would see what´s very different now from what presented itself ten years ago. And the significant difference is not in the rate of inflation or the rate of unemployment, but in the level trend and growth rate of nominal spending

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Markets

TLTRO 2: Poor results highlight ECB’s increasingly large to do list

MADRID | The Corner | As expected, the impact of the ECB’s second TLTRO, aimed at spurring credit to SMEs, was smaller than expected. Eurozone banks asked for €129.8 billion ($161.29 billion) in four-year loans, more than the nearly €83 billion provided in the previous offer in mid-September, but below the €150 billion expected by market watchers. Some believe this will increase pressure on Frankfurt to launch broadened QE on 22 January, the scheduled date for the next ECB meeting.

 

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World economy

Commodification of Water or Water Inc.

OSLO | By Even Kuross via Fair ObserverThe commodification of water supplies around the world reflects a growing trend of the privatization of natural resources.

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Markets

“I don´t think amnesty for Russian offshore capital will be useful”

MADRID | By Ana Fuentes and Sean Duffy | Uncertainty surrounding the future impact of sanctions both at home and abroad has seen a mass exodus of capital from Russia this year. The Government has sought to address the issue by offering an amnesty to Russians with money stashed overseas. Over $100 billion has left the country in 2014 and Alexander Pechersky, a managing partner from ALT R&C, is sceptical about the impact this latest measure will have. “I don’t really believe in the efficiency of this amnesty. I think this is a measure for the media and to gain some headlines.” 

inflation in the eurozone
In Europe

ECB: two quotes, one graph

MADRID | The Corner | Mario Draghi: “Some form of cross-country risk-sharing is essential to help reduce adjustment costs for those countries and prevent recessions from leaving deep and permanent scars.”/ Jens Weidmann:Fiscal policy should support the central bank with solid state finances, so that monetary policy can concentrate on its actual mandate, and sustainably secure the value of money.”

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Companies

Ana Botín replaces Santander’s CEO after only 2 years in the job

MADRID | The Corner | Banco Santander CEO Javier Marín will leave eurozone’s largest lender after only two years in the role. Ana Botín, in charge of the bank after her father Emilio Botín died in September, announced Marín’s replacement by  Jose Antonio Álvarez, who has spent the past decade as CFO. Ana Botín also made several changes to its board of directors. Shares in Santander rose 1.8% to 7.22 euros in Madrid following the announcement.