It is totally and wholly the responsibility of the ECB. They can deal with it in whatever way they like. Save them, liquidate them, bail them, print for them, whatever. But the one thing they should not be allowed do, as an independent body, is blackmail sovereigns in to bailing out the private banking sector.
When your precious PS ends up taking the pain it is about to take, because of the ineptitude of our politicians and civil servants, you will be screaming for debt forgiveness.
30 to 80% pay cuts tend to do that, especially when allied to the tax rises applied in order to bailout the banks that are stealing from you, even after the fact.