At a solemn ceremony on January 22 the new Bulgarian President Georgi Parvanov officially took office. The ceremony started at 11am at "Alexander Nevsky" square. Prime Minister Saxe-Coburg, all ministers, General Miho Mihov, Chief of General Staff of the Bulgarian Army, parliamentary speaker Ognyan Gerdzhikov, Greek Prime Minister Simitis as well as other officials attended the ceremony. For exceptional contributions to the national security and the policy for EU and NATO accession, General Mihov and Defense Minister Svinarov awarded Petur Stoyanov a unique gun and a sword. In his speech, outgoing president Stoyanov, pointed out that the presidential change meant that no longer a political party could monopolize the power. He wished success to his successor "in the name of Bulgaria and the Bulgarian people." The new Bulgarian President Parvanov said that he realized that he assumed office in a difficult and complicated period for Bulgaria. He reiterated that he will work for Bulgaria's revival, confirming that he will work for EU and NATO accession, security and stability on the Balkans, consensus among the institutions, better governance. After the ceremony, outgoing president Stoyanov and his wife Antonina Stoyanova welcomed the new Bulgarian President Parvanov in the Presidency. After a tete-a-tete meeting between the two presidents, Stoyanov, his wife and secretaries left the Presidency.

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