King Juan Carlos of Spain, 76, has abdicated. Prime Minister Mariano Rajoy announced on Monday. 

King Juan Carlos of Spain stepping down. (Twitter/@BBCBreaking)

The royal family released on Twitter photos of the king signing the official papers and a letter announcing his decision. 

The Crown Prince Felipe, 45, will take over the crown.

Juan Carlos was popular in Spain for bringing stability and democracy after the death of the dictator Francisco Franco, says The Daily Beast.

Recent scandals have made his population suffer.

He was associated this past year with a corruption investigation about his daughter, Infanta Cristina and son-in-law. He went elephant hunting in Africa when the country was suffering a severe financial crisis. 

Juan Carlos lost support in recent years because of the scandals. His stepping down did not come as a huge surprise.  

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