King Juan Carlos I of Spain to Abdicate

Spain’s prime minister, Mariano Rajoy, has announced in a nationally televised address that the nation’s long-reigning King Juan Carlos I of Spain will abdicate in favor of his 46-year-old son, Crown Prince Felipe.

King Juan Carlos had been a very popular ruler up until 2012 when he fell and broke his hip while on a safari in Botswana, while his country was in the throes of an economic crisis.

Things got worse when the King’s daughter, Princess Cristina, and her husband, Iñaki Urdangarin, became embroiled in tax fraud and money-laundering accusations.

Crown Prince Felipe has not been tainted by these scandals and a poll indicated that most Spaniards believe that his ascending to the throne would restore the monarchy’s prestige. Felipe was married to journalist Letizia Ortiz in 2004. They have two daughters, Infanta Leonor, age 8, and Infanta Sofía, age 7.

Here is the abdication speech of King Juan Carlos I:

King Juan Carlos I Fast Facts on CNN

More Spanish Kings who abdicated:
Philip V (Bourbon) 1700-24, abdicated in favor of son Louis; 1724-46 resumed throne after Louis’ death
Charles IV (Bourbon) 1788-1808
Joseph I (Joseph Bonaparte) 1808-13
Isabella II (Bourbon) 1830-33 and 1868-70
Amadeo I (Savoy) 1870-73