King Juan Carlos I of Spain is to abdicate the throne. The announcement was made by the country's Prime Minister Mariano Rajoy on Monday morning (02Jun14). The king's only son, Prince Felipe, will become Spain's next monarch. The country's constitution will have to be amended to allow the process to take place. In a press conference, Rajoy said, "His majesty King Juan Carlos has just communicated to me his decision to abdicate. I hope that shortly, the Spanish courts can proceed to name the current Prince (Felipe) of Asturias as King." The politician praised the king as a "tireless defender" of Spain's interests, and added, "I'm convinced this is the best moment for change." The 76 year old has ruled since 1975. No official reason for his abdication had been released as WENN went to press.