So far, badly burned investors who participated in last spring's round of recapitalizations aren't stepping in this time around.

FORBES: The Big Banks

Left unchecked, the debt-for-equity movement will add but eliminate taxes on industries that have stable enough cash flows to permit recapitalizations.

FORBES: Magazine Article

But Germany has categorically ruled out direct recapitalizations by the European Stability Mechanism, reneging on the solution apparently agreed by euro-zone leaders last June.

WSJ: Post-Election Inaction Could Reawaken Crisis