(VOVworld) – Crown Prince Felipe de Borbon of Spain acceded to the throne on Wednesday, taking the official name Felipe VI. At midnight, King Juan Carlos abdicated in favor of his son, who will swear an oath before parliament on Thursday.

Juan Carlos and his son hugged after the king had signed the law on his abdication (Photo: Reuters)

The transition will take the form of a proclamation rather than a coronation. It will be the first royal transition in Spain since democracy was restored. The new king will be proclaimed after promising to uphold the constitution and delivering a speech to parliament.
He and his wife Letizia will then be driven through Madrid's streets before appearing on the front balcony of the Royal Palace. Analysts say that as king, Felipe must restore the image of the monarchy which was tarnished when his father's reign became mired in scandal. He needs to inspire a people grappling with a 26 percent unemployment rate, and must try to unite the nation even as the northeastern region of Catalonia demands an independence referendum on November 9.