Some Spaniards protested , calling for an end to the monarchy . It is ` ` now to hand over to a new generation , '' the King says in a televised statement . ' In 1977 , he enacted political reforms that led to Spain 's first democratic election since 1936 . Prince Carlos will succeed the King . Many feel King Juan Carlos ' finest hour was a stand against a coup .
Some Spaniards protested , calling for an end to the monarchy . It is ` ` now to hand over to a new generation , '' the King says in a televised statement . ' Prince Carlos will succeed the King . Many feel King Juan Carlos ' finest hour was a stand against a coup .