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King Juan Carlos Abdicates

June 2, 2014 by staff 

King Juan Carlos Abdicates, After nearly 40 years on the throne, King Juan Carlos I of Spain said Monday that he will be stepping down.

It is “time to hand over to a new generation — younger, with a lot of energy — that can, with determination, take on and carry out the changes that the current situation demands, and to face with intensity and determination the challenges of tomorrow,” he said in a televised statement, according to a CNN translation.

“The long, deep economic crisis we are going through has left a lot of scars socially, but it has also pointed toward a future of hope,” he said.

Crown Prince Felipe, 46, will succeed his father. The King said he decided it was “time to prepare and pave the way so that he who is in better conditions can continue.”

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