Monarch says he is proud of country's transition to democracy but son Felipe has the maturity to 'open a new era of hope' 
 
 After 39 years on the throne, King Juan Carlos of Spain will abdicate in favour of his son Crown Prince Felipe, the king said in a televised address on Monday. Once one of the world's most popular monarchs, more recently Juan Carlos has been plagued by a series of scandals that have sent his popularity plummeting. Photograph: Target Press/Barcroft Media 
 
 The royal family's image was further tarnished by a long-running corruption investigation into the king's daughter, Princess Cristina, and her husband Iñaki Urdangarin. Media playback is unsupported on your device Media caption King Juan Carlos, 76, has had health problems in recent years 
 
 Support for the king fell further when it was discovered he had been on a lavish elephant hunting trip to Botswana in April 2012, in the middle of Spain's financial crisis. The first announcement about the abdication came from Prime Minister Mariano Rajoy, who told reporters: "His Majesty King Juan Carlos has just informed me of his desire to renounce the throne and begin the process of succession." His son Felipe, he assured Spaniards, "has the maturity, preparation, and sense of responsibility necessary to assume the title of head of state and open a new era of hope which combines the experience and momentum of a new generation." Royal officials are describing this as a "personal" decision, which the king has been considering ever since his 76th birthday in January. In Monday's announcement, Rajoy praised Juan Carlos, calling him a "tireless defender of our interests". "I'm convinced this is the best moment for change," he added. Felipe and his wife - former television presenter Princess Letizia - have recently taken on more important roles in ceremonial events.
– At 76, Spain's King Juan Carlos is abdicating after four decades, handing the throne to his son, Prince Felipe. "A new generation must be at the forefront," he said in a nationally televised address. Prime Minister Mariano Rajoy announced the move today, calling on the courts to name Felipe king, the Guardian reports. Rajoy called the king "a tireless defender of our interests," citing personal reasons for his departure; he has faced recent health problems. Juan Carlos has long been among the world's most popular monarchs, the BBC notes, but recent years have seen their fair share of controversy. In 2012, the king sparked anger with an extravagant elephant-hunting trip to Botswana as Spain was embroiled in its financial crisis. He has also grappled allegations of corruption faced by his daughter and her husband; that scandal doesn't seem to have affected Felipe's reputation, the BBC reports. Juan Carlos was crowned in 1975 following dictator Francisco Franco's death. Though Franco's supporters called for continued autocratic government, the king led a transition to parliamentary democracy, the BBC notes.