Spain King Juan Carlos To Abdicate After 40 Years On The Throne In Favor Of Son

MADRID (AP) -- Spain's King Juan Carlos, who led Spain's transition from dictatorship to democracy but faced royal scandals amid the nation's near financial meltdown, will abdicate so his son can become the country's next monarch, Spanish Prime Minister Mariano Rajoy told the country Monday in an announcement broadcast nationwide. Rajoy did not say when the handover would happen because the government must now craft a law creating a legal mechanism for the abdication and for 46-year-old Crown Pr...