The big news of the day is the announcement by King Juan Carlos that he is abdicating in favour of his son, Crown Prince Felipe.
The 76-year-old King Juan Carlos has reigned for nearly forty years and for much of the time was one of the world’s most popular monarchs. In recent years, however, his popularity amongst the Spanish people has declined considerably and people have lost confidence in him.
His reputation has been somewhat tarnished by a long-running corruption investigation into the business dealings of his daughter and her husband. In addition, a lavish elephant hunting trip to Botswana in April 2012, in the middle of Spain’s financial crisis, did little to enhance his reputation either.
The hunting trip, and the corruption allegations involving his youngest daughter, Cristina, and her husband Inaki Urdangarin, led to calls for him to step aside. Juan Carlos has apparently been considering the possibility of abdicating since January 2014.
Republicanism is a relatively strong force in Spain and on social networks, people are already asking whether it is now time for Spain to become a republic.