Spain's king abdicates in favour of his son Felipe

Juan Carlos I and the Prime Ministre Mariano Rajoy
Spain's king Juan Carlos I abdicates in favour of his son Felipe,Prime Minister Mariano Rajoy announced today. Mariano Rajoy called this morning a press conference to announce that King Juan Carlos has decided to abdicate after 39 years of rule. Rajoy noted that he expects the Prince to be coronated King in “a very short period”.

The 76-year-old King has been in power since the death of long-time dictator Francisco Franco. Several republican groups and Political Parties are preparing protests againts the monarchy and claiming for a Third Republic. The biggest one is expected to occur in Sol (Madrid) from 8pm.