S&P raises Greece rating after bank recapitalisation, reforms

Despite various shocks, Greece's economy had proved to be more resilient than expected, the ratings agency said on Friday. "By the end of March, we expect a compromise to be reached on pension reform that will balance the government's preference to raise social security contributions and consolidate the separate pension funds into a single system," S&P said. S&P said it expected "one more year of essentially flat growth" for the Greek economy, "followed by a more robust recovery." The ra