This article by Oren Ben-Dor seems to argue that there is another loss: Israel's "soul," if you will permit the metaphor, the state's whole reason and justification for being.
"What exactly is being defended by the violence in Gaza and Lebanon?" he asks in London's Independent.
Is it the citizens of Israel or the nature of the Israeli state? I suggest the latter. Israel's statehood is based on an unjust ideology which causes indignity and suffering for those who are classified as non-Jewish by either a religious or ethnic test. To hide this primordial immorality, Israel fosters an image of victimhood. Provoking violence, consciously or unconsciously, against which one must defend oneself is a key feature of the victim-mentality. By perpetuating such a tragic cycle, Israel is a terrorist state like no other. (...)Independent Online Edition > Commentators: "Oren Ben-Dor"
In Hebrew, the word elem (a stunned silence resulting from oppression or shock) is etymologically linked to the word almut (violence). Silence about the immoral core of Israeli statehood makes us all complicit in breeding the terrorism that threatens a catastrophe which could tear the world apart.
And who is Oren Ben-Dor, who speaks so authoritatively of Israeli history and Hebrew etymology? He has been in the news before, for attempting to organize a UK boycott of Israeli scholars. (See Counterpunch.) He describes himself as an "ex-Israeli" (he grew up in Israel), and currently teaches law at the University of Southampton. For more info and a photo, see his U. of Southampton web page.