After three rounds there are only 9 players with perfect score, just four of them are over 2600 elo points: Inarkiev (RUS), Fedorchuk (UKR), Van Wely (NED) and Meier (GER). The hero of the day was GM Banikas from Greece who defeated on board one Akopian (2700), one of the pilons of Armenian Olympic team, winner of gold in the last two Olympiades. Four other players in the group are Kabul (CRO), Hillary Person (SWE), Gagunashvili (GEO) and  finally Nanu (ROM) as the only international master who managed to join the leaders. Behind them there is a huge group of 35 players with half a point less.
The fourth round is on schedule tomorrow, and the top pairings will be:
Inarkiev (RUS)-Kožul (CRO), Fedorchuk (UKR)- Hillarp Person (SWE), Van Wely (NED)-Banikas (GRE), Gagunashvili (GEO)- Meier (GER) and Vallejo Pons (ESP)-Nanu (ROM). I would like to remind You, the games on the first 30 tables can be seen live on internet.
Finally I would like to let You know that this beautiful tournament is not a first of the kind organized here in Budva. In 1965 there was a Student Olympiad, in 1981 a zonal tournament, and in 1986 and 1987 two Yugoslav championships. Three players who played the zonal tournament are here, GM  Antonio Fernandes (POR), IM Josip Rukavina (CRO) and the author of these lines.
People usually say that the old persons live from memories. That is true, at least in my case, and it is exactly because of nice memories that I have decided to come again in Budva. By the way, I played those two championships as well.
There is one more detail which impressed me a lot. During the open ceremony a chess stamp dedicated to this championship was promoted, with the picture of the legendary Montenegrian GM Božidar Ivanović. Quite a rare honor for a chess player, don't You agree?