King Juan Carlos Abdicates Spanish Throne

King Juan Carlos abdicates Spanish throne on Monday. Headlines show that the King of Spain, King Juan Carlos abdicates Spanish throne as according to the monarch, he is "open a new era of hope" with the reign of his son Felipe.

On Monday, King Juan Carlos said he is proud of his country's transition to democracy. He also detailed how he believes his son Felipe's maturity will open the country to a new beginning.

The 79-year-old has been sitting in the throne of Spain for over 39 years now, and reports of King Juan Carlos abdicates Spanish throne comes after the monarch shows his favour for his son Crown Prince Felipe. According to The Guardian, this show of favour has been announced by the king during a televised address on Monday.

The announcement reportedly came hours after Prime Minister Mariano Rajoy said the news of the king explaining his verdict on Spanish television and radio. In the media announcement regarding the judgement on King Juan Carlos abdicates Spanish throne, the monarch also pointed out his pride over his country's "transformation." He also added that he is proud of the "tremendous amount achieved by all" people of Spain since the country has transitioned into democracy.

In the announcement where King Juan Carlos abdicates Spanish throne, he said, "Today, when I look back, I cannot help but feel pride and gratitude towards all of you."

He also said that his decision of stepping down he made after he celebrated his 76th birthday this January. In his speech, he also reportedly assured Spaniards that his son Felipe "has the maturity, preparation, and sense of responsibility necessary to assume the title of head of state and open a new era of hope which combines the experience and momentum of a new generation."

According to The Telegraph, Juan Carlos was on the list of the world's most popular monarchs. However, his recent inclusion in a sequence of scandals has reportedly made him unpopular with the Spaniards, and is also one of the reasons why King Juan Carlos abdicates Spanish throne.

The Guardian reports that El Mundo has conducted a poll last year, and they have found out that King Juan Carlos' popularity was very low and nearly two-thirds of Spaniards thought he should abdicate the throne in favour of his son.

46-year-old Crown Prince Felipe is married to Letizia Ortiz, a divorcee and former television newsreader. They currently have two daughters. According to reports, the couple have already extended their official roles in the past months. They have often stepped in for the king who has been reportedly experiencing ill health and several operations in the past two years.

News of King Juan Carlos abdicates Spanish throne due to a decrease in popularity comes as a bit of shocker as in 2012, two years before the poll and abdication, Juan Carlos has reportedly gained the approval of almost 80% of Spaniards.

Still, Spain went to a financial downfall and the king's rank sank. King Juan Carlos abdicates Spanish throne came after a huge blow to the decrease in his status. This came when it was reported that he went on a luxurious trip to Botswana just to hunt elephants. The event reportedly came just weeks after he told a reporter that he was so troubled about the rise of unemployment in the country that he has been having a hard time sleeping.

Along with this, the whole royal family also reportedly became unpopular even more because of a long running corruption investigation into the life of Princess Cristina, the king's daughter, and her husband Iñaki Urdangarin.

Because of these issues, Spaniards began to see that the royal family is a big part of Spain's economic problems. This is one of the reasons which prompted King Juan Carlos abdicates Spanish throne.

Despite the king and his family's problems, Felipe's popularity still remains stable. He reportedly gained 66% in ratings. This encouraged many to propose that it would be better if the king abdicated.

King Juan Carlos abdicates Spanish throne and during the Monday announcement, Minister Rajoy praised the former king and called him a "tireless defender of our interests". He also said, "I'm convinced this is the best moment for change."