A Banach space without a basis which has the bounded approximation property

can be approximated by finite rank operators uniformly on compact sets. It is clear that Xhasabasis ~ XhasBAP =~ XhasAP The fact that the converse implication to the second one does not hold in general was discovered by Figiel and Johnson [8] soon after Enflo's example [7] of a space without AP. The main purpose of this paper is to show that also the implication "BAP=~basis" does not hold in general; this answers problems asked by a number of authors (e.g. [14], [18], [27]). Before stating the result, we recall more notation. For a given basis (x n) of X one denotes by bc (x n) (the basis constant of ix~)) the smallest K such that

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