Greek Sovereign Debt Now Rated BB-

With Greek Sovereign Debt now downgraded (ie S&P'd) to BB-, with a negative outlook (largely because of the ESM agreement) it is not a good time to read about the true state of the country's pensions and social security funding.

There's a substantial "fiscal hole" and an alarming budget deficit.

It's reassuring to have reports from Ioannina that the restaurants and coffee shops are just as full and as busy as ever.