Zee Media Bureau
Madrid: A day after Spanish King Juan Carlos announced his decision to abdicate throne, the Spanish cabinet held a meeting on Tuesday to discuss the accession of Crown Prince Felipe.
The high-profile meeting was called by Prime Minister Mariano Rajoy to formulate a draft abdication law which would be subsequently approved by the Parliament in a month`s time.
The king, who was reigning as the monarch for nearly 40 years, will be succeeded by his son Crown Prince Felipe who will be crowned as King Felipe VI.
After the succession of Prince Felipe, his wife Princess Letiza, a former television anchor, will become the first commoner Queen.
The reign of the monarch was marked by several controversies including his infamous elephant hunting trip in the middle of Spain`s financial crisis in April last year.
Further damage was caused after the investigation into the corruption scandal of his daughter Princess Christina and her husband Inaki Urdangarin.
Soon after the king made the televised announcement of abdicating the throne, the Spaniards took to the streets demanding the end of monarchy in the country.