  Working in a continuous time setting, we extend to the general case of
dynamic risk measures continuous from above the characterization of time
consistency in terms of ``cocycle condition'' of the minimal penalty function.
We prove also the supermartingale property for general time consistent dynamic
risk measures. When the time consistent dynamic risk measure (continuous from
above) is normalized and non degenerate, we prove, under a mild condition, that
the dynamic risk process of any financial instrument has a cadlag modification.
This condition is always satisfied in case of continuity from below.
