• Following Syriza’s election triumph in Greece, the coalition that will confront international creditors is an unholy alliance of two parties that couldn’t be further apart
  • The case of a former kebab restaurant owner accused of fraud said to be worth as much as $34bn has rocked Iran amid revelations of widespread corruption
  • Muslims account for more than half of France’s prison population and since the terror attacks in Paris there are calls to prevent jails from serving as recruitment centres for Islamists
  • A write-off of Greece’s debt would cause more problems in Europe than it would solve, strengthening radical parties and breaking down trust between members of the EU, argues Gideon Rachman
  • Saudi Arabia is expanding its regional power in the Middle East as others falter, but its ascendance is the result of the near-collapse of many nearby states (New York Times)

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  • Donetsk’s $1bn airport was supposed to showcase the country’s prosperity. Instead it has become a battleground, with airliners replaced by a relentless stream of rockets that have reduced the glass-fronted terminal to a skeleton of blasted concrete and warped steel
  • Houthi rebels who surrounded the residence of Yemen’s president have reached an agreement with authorities over constitutional change and power-sharing in the country. But who exactly are the Houthi and what do they want?
  • Recep Tayyip Erdogan’s new, $600m presidential palace is not merely symbolic of his move to increase his grip over government – with few constitutional checks and balances, it shows who is really in charge
  • Indonesia and Malaysia have often been put forward as examples of modern and moderate Muslim states, yet in both countries there are signs that tolerance is eroding and a more rigid interpretation of Islamic orthodoxy is taking shape
  • In Yemen, the world’s most dangerous jihadi group is both the government’s enemy and its ally of convenience (Foreign Policy)

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Will the European Central Bank’s QE work?
Ben Hall is joined by Claire Jones and Ferdinando Giugliano to discuss the European Central Bank’s battle against deflation and whether its long awaited bond buying plan will work

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  • Even before yesterday’s shooting, French authorities had warned of a big terrorist attack for months, their concern fuelled by large numbers of French recruits to Islamist groups in the Middle East
  • Having ended a long civil war and presided over an economic boom, Mahinda Rajapaksa expected to coast to a third term as president of Sri Lanka in today’s election. Instead, he faces a resurgent opposition
  • A new antibiotic that could take several decades for bacteria to develop resistance to is being developed through a public-private collaboration, amid repeated warnings about the dangers of growing resistance
  • Charlie Hebdo: its history, humor, and controversies, explained (Vox)
  • 23 Heartbreaking Cartoons From Artists Responding To The Charlie Hebdo Shooting (Buzzfeed)

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Will the Greek election reignite the eurozone crisis?
Snap elections are being held in Greece later this month in which the radical left Syriza party is expected to come out on top. Gideon Rachman is joined by Kerin Hope, Athens correspondent, and Tony Barber, Europe Editor, to discuss the implications for Greek debt restructuring and the eurozone.

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By Rachel Sanderson in Milan

In his ninth end of year address to Italians and the last before he retires this year, Italy’s president Giorgio Napolitano pulled no punches.

His voice hoarse and visibly tired, in a televised speech on Wednesday night, Mr Napolitano attacked the prevalence of organised crime in Italy describing it as a “subsoil of rot” running through Italian social and political life. Read more

Consequences of the US-Cuba rapprochement
Following president Barack Obama’s announcement that the United States will begin normalising relations with Cuba, John Paul Rathbone, Latin America editor, joins Gideon Rachman to examine how quickly the island state’s Soviet-style economy is likely to change and the implications for the wider region.

  • Large-scale intervention in the FX markets, limiting liquidity, further interest rate rises and capital controls are among the options that Russia’s central bank has to stem the rout in the rouble
  • Jeb Bush, the scion of a political dynasty who has declared his interest in running for president, faces a gulf between what the Republican base wants and what US floating voters will tolerate
  • Pope Francis was essential to breaking the deadlock between Cuba and the US that has lasted 50 years, initiating a discussion that led to the secret diplomacy behind the rapprochement
  • The brutal attacks in Peshawar have already backfired against the Pakistani Taliban (Foreign Policy)
  • Saudi cleric wants genders to mix and women to drive – but he is being attacked for it (Your Middle East)

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By Vincent Boland

It is the event that the Irish cannot put behind them. Six years ago, the country’s banks collapsed, and brought Ireland down with them. An official inquiry into what happened, and why, and who was responsible, got under way in Dublin on Wednesday. There is no guarantee that it will shed any new light on the affair. Read more

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Japan’s snap elections
Shinzo Abe’s decision to call snap elections only two years into his term perplexed many people. Was it simply cover for a U-turn on a planned rise in consumption tax or was the prime minister seeking a renewed mandate for more radical measures to kick-start growth? Ben Hall discusses what the elections mean for the future of the world’s third-largest economy with Ben McLannahan and David Pilling.

  • Bahrain’s royal family has built up vast private wealth, including a $900m portfolio of UK real estate, after embarking on development projects on disputed reclaimed land in the Gulf kingdom, an FT investigation reveals
  • The prospect of Greece’s self-styled “radical left” Syriza party coming to power has sown panic among investors, but its leader has softened his rhetoric and is changing tactics to reassure the business community
  • Beneath the surface of gridlock and hyper-partisanship in US political life is a national security establishment whose influence endures administrations and constantly seems to evade constraints
  • Narendra Modi has not made many sweeping reforms since he stormed to India’s premiership in May. But he has made some reforms about sweeping – showing his feel for the issues that affect the masses outside the Delhi beltway
  • The extent of the UK’s military and political catastrophe in Afghanistan is hard to overstate. It was doomed to fail before it began, and fail it did, at a terrible cost in lives and money, writes James Meek in the London Review of Books

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