MADRID: Spanish King Juan Carlos announced on Monday he will hand the crown to his son Felipe, ending a historic 39-year reign that guided Spain to democracy but was weakened by scandals.

The 76-year-old, crowned in November 1975 after the death of General Francisco Franco, said he wanted to hand over to “a younger generation” after several turbulent years.

Juan Carlos was widely respected for his role in building modern Spain, but a corruption scandal that struck his family at the height of an economic crisis undermined his popularity.

Years of economic crisis “have awakened in us a desire for renewal, to overcome and correct mistakes and open the way to a decidedly better future”, the king said in a televised address.

“Today a younger generation deserves to step into the front line, with new energies,” said the monarch, looking relaxed in a grey suit and green tie.

“For all these reasons... I have decided to end my reign and abdicate the crown of Spain.

King Felipe VI: Spain’s new king will be his son Felipe de Borbon, Prince of Asturias, a six foot six inch tall former Olympic yachtsman, relatively unscathed by the family’s scandals.

The future King Felipe VI “has the maturity, the readiness and the sense of responsibility needed to take on the leadership of the state and open a new phase of hope”, Juan Carlos said.

Coup-stopper: Juan Carlos shaped Spain’s modern history after taking the throne as the dictator Franco’s appointed successor.

Defying Franco’s supporters, he oversaw the creation of a parliamentary monarchy, with a new constitution approved by referendum in 1978.

He was credited with seeing off an attempted coup in February 1981 when soldiers stormed into parliament shooting and held lawmakers hostage.

Juan Carlos said on Monday he had worked to make “citizens the masters of their own destiny and our nation a modern democracy”.

“When I look back, I can only feel pride and gratitude towards you,” he told the nation.

“Pride for the many good things we have achieved together over the years, and gratitude for the support you have given me.

But he was undermined late in his reign by the scandal centring on Urdangarin’s business affairs, which broke out in 2011 and has also dragged in Cristina.

Published in Dawn, June 3rd, 2014