So in most failures, it's true, the acquirer's been willing to pay us enough where we actually get more money by selling all the deposits to them and protecting all the deposits versus imposing a loss on the uninsured.

FORBES: Intelligent Investing

That leaves just two alternatives: either the loss is borne by euro-zone taxpayers, or it is borne by uninsured depositors in Cypriot banks.

WSJ: Cyprus Needs to Find a Quick Debt Fix

Mitigating Considerations: It is a matter of public record that the major German banks (who hold somewhere between DM 6-10 billion in uninsured Soviet debt) have with the possible exception of Commerzbank already established loan loss reserves which cover 100 percent of Soviet debt exposure.

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