Spanish King Juan Carlos, left, embraces Spanish Crown Prince Felipe after signing an abdication law during a ceremony at the Royal Palace in Madrid, Spain, Wednesday June 18, 2014. Spain's Juan Carlos formally ratified the law, signing a legislation setting out the legal framework for the handover so his 46-year-old son can be proclaimed King Felipe VI at a ceremony in Parliament on Thursday. The 76-year-old monarch says he wants to step aside after a four-decade reign so that younger royal blood can rally a country beset by economic problems, including an unemployment rate of 25 percent. (AP Photo/Daniel Ochoa de Olza)