Spain's King Juan Carlos is stepping down from the throne, clearing the way for his son Prince Felipe to take over. Prime Minister Mariano Rajoy made the abdication announcement on national television.
Spain's King Juan Carlos

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Spain's King Juan Carlos smiles in one of his latest audiences at the Zarzuela Palace outside Madrid, May 27, 2014.

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In this photo released by the Royal Palace, Spain's King Juan Carlos signs a document in the Zarzuela Palace opening the way for his abdication, June 2, 2014.

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Spain's King Juan Carlos, his son Crown Prince Felipe and granddaughter Infanta Leonor pose at Zarzuela Palace in Madrid, July 26, 2012.

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Spain's King Juan Carlos kisses the ring of Pope Benedict next to Spain's Prime Minister Jose Luis Rodriguez Zapatero at Madrid's Barajas airport, August 18, 2011.