King Juan Carlos of Spain has indicated he will step down, allowing his son, 46-year-old Crown Prince Felipe, to take the throne, Prime Minister Mariano Rajoy said Monday. "His majesty, King Juan Carlos, has just communicated to me he will to give up the throne," Rajoy said. "I'm convinced this is the best moment for change." That change will include modifying the constitution so King Juan Carlos can legally abdicate.
Juan Carlos, 76, took the throne in 1975, soon after the death of longtime dictator Francisco Franco. His once-high popularity has waned in recent years, as he occasionally acted like royalty while Spain was being buffeted by the global banking crisis and its local iterations. His daughter, Princess Cristina, and her husband are also being investigated for corruption. No reason was given for Juan Carlos' decision.
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