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Eurobank’s Deputy CEO Karamouzis said that the bank has already reduced its exposure to ECB’s funding by €6bn, ie 50% of total, in the last six months and gradually reaches the precrisis levels.  Karamouzis stated that liquidity in the domestic and international markets has significantly improved. The above comes as a response to BoG’s advice that the domestic banks should gradually reduce their exposure to such funding sources. Karamouzis also said that EFG no longer participates in the Pillar II of the State’s support scheme, having retired €500m worth of government guaranteed bonds. Recall that the bank intends to also call the State’s preferred stocks and get out of the scheme when the market conditions stabilize, possibly within 2H10. Overall, the news is positive and may alleviate some concerns over EFG’s funding position.