Spain’s King Felipe VI has renounced the inheritance of his scandal-hit father and former king, Juan Carlos.
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In a statement issued on Sunday, the palace said that Juan Carlos, who abdicated in 2014, would also stop receiving an annual grant of €194,000.
This comes as the 82-year-old former king is being criticised for his lavish lifestyle.
Juan Carlos, who reigned for 39 years, is also facing an investigation by the Swiss financial authorities.
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This follows media reports that he had received $100m in 2008 from Saudi Arabia via an offshore account.
The former monarch has made no comments on the issue.
Some royal analysts in Spain say that by renouncing his father’s inheritance, King Felipe VI, 52, is trying to distance himself from his father’s affairs.
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Juan Carlos ascended the throne in 1975 on the death of General Francisco Franco, the right-wing dictator who ruled Spain for 36 years after his victory over Republican forces in the Spanish Civil War.
He is credited as a stabilising force for independence-minded areas such as Catalonia and the Basque region, and he also helped defuse an attempted coup in 1981.