Greece extended for a second time on Thursday a deadline for remaining bondholders to accept a debt swap, giving authorities more breathing space to formulate a response to investors who have refused to sign up for the landmark deal. Greece said it would settle on April 11 the exchange of 20.27 billion euros of debt, equivalent to the 72 percent of bonds issued under foreign law and state enterprise notes signed up for the swap offer.

The government is left with three options to confront those bondholders still resisting - continue to service the bonds, default and trigger litigation or come up with a new offer while ensuring fair treatment for those that accepted the swap.

AgroInvest comment: weak economic progress forecasted for 2012 puts additional pressure on Greece in particular and Eurozone in general. Vicious circle of declining economy and Greek debt problems, that may result in default, triggered decline of global indices.

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