abn amro analyst view, page-20

>The analogy of comparing BNBG to BEPPA is somewhat misinformed (to put it politely) and shows a distinct lack of understanding of both situations.

This statement is probably true. BEPPA, however, is significantly worse as an investment, in terms of protection, compared with BNBG!!

Ask yourself this: "What rights to you have to enforce cash payment of BEPPA principle and interest?"

I think you may find you have even less rights than BNBG holders.