This is clearly a trial and error phase for the European Central Bank and related authorities. The Germans would have maintained the deposit guarantee, as Schauble says below. In fact also in the nationalization of the SNS Bank in the Netherlands one month ago, shareholders and subordinated creditors lost everything, but savers were spared. But then, that was paid by the Dutch taxpayer. I am not sure if the Cypriot taxpayer exists.

http://uk.reuters.com/article/2013/03/17/uk-eurozone-cyprus-germany-idUKBRE92G0HR20130317