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Spanish King Juan Carlos I has announced plans to abdicate.
As reported by Prime Minister Mariano Rajoy, Spanish parliament is to pass a law, that will allow Crown Prince Felipe take over the throne.
Juan Carlos was named as the next head of state by Spanish dictator Francisco Franco in 1969. He became King in 1975, when Franco died. During his rule, Juan Carlos oversaw his country's transition from dictatorship to democracy. The years of Juan Carlos' rule in this photo gallery by ITAR-TASS.