I think most Chelsea fans were hoping that Wallace would be recalled from Inter Milan, to be loaned to a more appropriate destination. According to his agent, that won't be happening in January:
"He will remain at Milan until June. There is no chance of an early departure, no way that he can go back to London now."
"Everything’s all right [with Mazzarri]. He will continue to train hard and wait for his chance. He is happy, but hopes to play more."
"With Chelsea in June, we will decide together what to do. The Blues are the owners of his contract."
So Wallace will likely continue to rot on the Inter bench until summer, at which point Chelsea will likely decide to send him on a safer loan assignment for next season. All in all, his agent pushing for an aggressive move to Inter this summer has proved to be nothing short of a disaster. Here's hoping he at least gets a few minutes during the spring.