King Juan Carlos abdicating to 'ensure stability' in Spain

Spain's King Juan Carlos said he is abdicating to "ensure stability" in the country.

Spain's King Juan Carlos. Credit: Reuters

In a televised statement, he said: "My son [Crown Prince] Felipe, who is the heir to the throne, is the incarnation of stability.

"When I turned 76 in January, I decided it was the moment to prepare passing the baton to someone who can ensure stability".

He ended the broadcast with the words: "I will always hold Spain in the depths of my heart".

Read: Profile of 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.