His Majesty King Juan Carlos of Spain today announced his intention to abdicate the throne of Spain, after more than 40 years. He will be succeeded by his 45-year-old son, Crown Prince Felipe.
The King is the third Monarch to abdicate the throne in the past 24 months, after Queen Beatrix of the Netherlands and King Albert II of Belgium both abdicated in favour of their younger children.
King Juan Carlos said he was handing the throne over to the younger generation. The news was announced by the Prime Minister of Spain, followed by a tweet revealing the instrument of abdication, signed by the King.