Again the losses are a marketing strategy for the newspapers and the public.
Money WAS lost but not to any founding members of any of the lending institutions.
If they printed the truth, which they did in a way to protect themselves, that Greece's default was a "Selective Default" and people actually understood what that meant, then the World would have been set ablaze.
What it really meant is that the persons who lent the capital are still owed the original capital including the interest on that capital but since Greece acknowledged its obligation to repay them eventually, then they will lend them more money to do so. To repay the interest on the old loans plus the interest on the new loans. The principal will NEVER be paid back but it is irrelevant because the majority of the lenders used their fiat money creation powers - it never existed. This game must continue indefinitely because the real money created is the Interest paid to the lenders.
By having an acknowledgement of the debt, it never has to be written down on the books as a loss as long as interest is being paid. I want nothing more in my life than to find some individuals to start a Banking Charter of our own. I do not want to do anything illegal EVER. Just keep it open for as long as possible! ;)