I think you are reversing things here. From what I've read, the Laiki bank invested a lot of money in greek debt, which defaulted. The money of the bank was not confiscated to pay a country's debt. The money was invested in some country's debt. Big difference that is. So what are the exact facts here?
Investment, haha. Are you just naive or stupid? Western-type governments will never pay their debts, it's impossible. The money are just gone.
Laiki invested after many talks about solidarity and how the investmnet is completely safe. Top ESU politicans already knew Greece will partialy default so it was a fraud to bring down Cypruss money system, which was - as a partially tax-free zone - pain in the ass for Merkel & Co.
According to new law which was silently applid in ESU, there was a thread about it here, next time, client's money will be the first to pay off bank's debt. I am somewhat suspicious even the 100k insurance will somewhat not be applied.