Juan Carlos resignation 'for political reasons'

King Juan Carlos has decided to abdicate from the Spanish throne for political reasons, rather than as a result of declining health, according to sources close to the Spanish royal family.

The monarch reportedly decided in January that he would pass on the crown to his son, Felipe, but delayed the announcement until the conclusion of the European Parliament elections.

Read: Profile: King Juan Carlos I of Spain

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Spanish government to discuss King's abdication

The Spanish cabinet will discuss King Juan Carlos' abdication later today. Large anti-monarchist protests sprang up overnight across the country.