Felipe VI has been sworn in as the new King of Spain today (19.06.14).
The newly anointed monarch was officially proclaimed king after his father Juan Carlos ended his reign in a ceremony at Madrid's Royal Palace at midnight.
The 46-year-old former Olympian took an oath of loyalty to Spain's constitution before giving an address to the Spanish parliament.
He said: "We have a great country. We should all be proud of being Spaniards."
Following the speech - in which he also called for "a renewed monarchy for new times" - Felipe VI, his wife Letizia and his daughters, Princess Leonor, eight, and Princess Sofia, seven, greeted crowds from the balcony of the Royal Palace with other members of the royal family.
His father Juan Carlos - who did not attend the ceremony - was tearful and emotional as he ended his reign last night (06.18.14).
The 76-year-old monarch arrived at the palace to a cannon fired salute and chants of, "Long live the King!" before he signed the act of parliament ending his reign and embraced his son the then future King Felipe VI.
Upon signing his abdication, Juan Carlos was applauded by his wife Queen Sofia, his son Felipe and daughter-in-law Princess Letizia.
While the ceremony took place, preparations were made to decorate the streets of Madrid for the swearing-in ceremony.
Flags and flowers covered the streets while a red canopy with the state coat of arms embroidered in gold was erected over the front doors of the lower house of parliament, which Felipe VI passed through.
Carlos Tesorero told Expatica.com: "There's a festive atmosphere. It's a party for this new king.
"All the Spanish people have faith in him. He is very capable and I think he will be a good king."

Ryan Thomas has a great relationship with ex-girlfriend Tina O'Brien.
The 'Coronation Street' hunk has a five-year-old daughter, Scarlett, with his former co-star and while they've long split up, the pair - who are both in new relationships - have a strong bond due to their shared parental responsibilities.
Ryan said: "I care about Tina a lot and she's the best thing in the world. I'm very happy with the set-up and everyone gets on. It's really good."
The 30-year-old star admits he felt "negative" when the couple first split, but he's learned to get along with his ex, who played Sarah-Louise Platt in 'Corrie'.
He told Britain's OK! magazine: "I appreciate the good things in life and appreciate how beautiful Scarlett is. It's not about me and my problems and my issues. I was a bit negative and now I know I've got to get on with people. I was a really young dad and now I've grown up a bit."
Ryan is now dating Bollywood star Amy Jackson, 23, while Tina is six months pregnant with her second child, with new boyfriend Adam Crofts.
The 'Corrie' star says he is willing to have Scarlett's half-sibling stay over and gets on great with Adam.
He enthused: "I said to Tina, 'When Scarlett comes over to stay, I've got two of them to look after now!'
"Course I will [look after the baby] - whatever Scarlett wants. The point is to make her happy."

Frank Skinner could be immortalised as a 'Doctor Who' action figure.
The comedian has fulfilled a lifelong ambition by starring in an episode of the BBC sci-fi drama recently and he reveals that he was photographed for a potential toy to accompany the eighth series, which will begin in August.
Speaking on his Absolute Radio Saturday morning show, Frank said: "This guy said, 'I need to take your photo', so I had to stand in front of this white screen in my costume, which obviously I can't describe, and I was photographed in the round - so I had to turn around a little bit, turn around a little bit.
"I said, 'What was that for?' He said, 'That was just in case you are an action figure.' I'm not saying I will be but I think that is every man's ambition to be an action figure."
The 57-year-old comic had to miss his son Buzz's birthday in order to film his scenes, but Frank more than made up for it by enlisting the new Time Lord, Peter Capaldi, to star in a personalised greeting for the youngster.
He explained: "It's of Peter Capaldi stepping out of the TARDIS holding up a sign that says, 'Happy birthday, Buzz.' I shall send him that every year for the rest of his life - not for the rest of his life, for the rest of my life."

Brendan Cole wants Caroline Flack to compete on 'Strictly Come Dancing'.
The professional dancer thinks the former 'Xtra Factor' co-host - who has just been replaced by BBC Radio 1Xtra presenter Sarah-Jane Crawford - would be a shoe-in to win the BBC One ballroom dancing show this year.
Asked whether he wanted to poach any former 'X Factor' stars for the celebrity line-up, Brendan told Digital Spy: "Nicole Scherzinger has won 'Dancing with the Stars', so that would be a bit silly, [but] Caroline Flack, she'd be great, definitely. That would be amazing."
Brendan is unfazed about ITV's ratings-boosting move of bringing back Simon Cowell and Cheryl Cole to 'The X Factor' this year and believes 'Strictly will remain "the biggest show on television".
The dancer dreams of partnering with Natalie Portman and is confident an A-list international star will want to try their luck at winning the competition in future.
He reflected: "I do think one day there will be somebody on there where you go, 'Oh my goodness, we never could have dreamed of them', somebody who we go, 'Wow, that's quite impressive'."
Brendan recently criticised BBC bosses for being "horrible" to the professional dancers by not telling them whether their contract is renewed until a few months before the next series.
He raged: "We never know who is doing the next series until May or June. I think it's rude and horrible to us and you can't plot for the end of the year. If they don't use you, you'd think, 'How am I going to pay my mortgage?' So that is something you go through." 

Bobby Norris thinks his revealing half-thong swimsuit is the "way forward".
'The Only Way is Essex' star and boyfriend Harry Derbidge turned heads in their skimpy beach attire when the cast filmed in Marbella, Spain, last week, and Bobby is blown away by the fervent reaction his swimwear.
He said: "I only found out yesterday that Paris Hilton put it on her Instagram, David Walliams has tweeted it, and I'm like, oh my gosh, it's amazing.
"I love a tan more than anyone else in Essex, I'm the queen of tan, and for me, how am I going to eliminate white lines? This is the way forward! I can't go full-on nude, so every 20 minutes, [you] swap from leg-to-leg."
There was plenty of drama during the annual 'TOWIE' trip to Marbella as Bobby was also witness to a verbal dispute between Ferne McCann and Chloe Sims over claims Ferne cheated on Chloe's brother, Charlie Sims.
He added: "I was there soaking up the rays, getting my tan on, and it just literally goes from the most quiet conversation [to a heated argument]."
Meanwhile, 'TOWIE' favourite James 'Arg' Argent came face-to-face with his ex-girlfriend Lydia Bright in Marbella, following her return to the show after an 18-month absence, but lovelorn Arg isn't sure he will reunite with his bubbly ex.
Appearing on ITV's 'This Morning', he said: "Me and Lydia haven't spoken for two years, so we can't expect anything to happen straight away. It was a nice opportunity to break the ice. We had a really nice dinner and it went really well."

The 1975 have been working on new material for One Direction's next album.
The 'Chocolate' hitmakers got into the studio with the band - made up of Harry Styles, Zayn Malik, Louis Tomlinson, Niall Horan and Liam Payne - after they approached them to work on a song for their upcoming fourth studio record.
Speaking at Bushmills Live in Ireland, Matt told OneDirectionJoy.com: "We went in the studio once [with One Direction]. It's something that would feature on their album. It's just us writing for them, it wouldn't be a collaboration."
Talking about One Direction's global success, he said: "I think those boys can do a p**s and the whole world wants to talk about it.
"I think everyone's keen to know what's going on in their world. One Direction are the busiest band in the world and we are the second busiest."
Matt, 25, also played a prank on Harry Styles on Nick Grimshaw's Radio 1 breakfast show, when he asked him for £5,000 because he was desperate for cash.
The One Direction hunk agreed to lend him it despite only having briefly met him.
Matt joked: "I should [still] get my £5,000 off Harry Styles. That was very funny."
Meanwhile, The 1975 are also playing with electro-pop breakthrough Keisza at MTV Crashes Plymouth next month, joining Example and The Kaiser Chiefs.
They will be performing at the Plymouth Hoe on July 15 to a 20,000-strong crowd at the sold-out beach side event.

Iron Maiden's Bruce Dickinson has slammed Glastonbury festival for being too "middle class".
The frontman insists his band have no intention of playing the annual event at Worthy Farm, which Metallica will headline next Saturday night (28.06.14) as the first heavy metal band in the festival's history to do so.
According to the Daily Telegraph newspaper, he said: "In the days when Glasto was an alternative festival it was quite interesting. Now it's the most bourgeois thing on the planet. Anywhere Gwyneth Paltrow [the actress] goes and you can live in an air-conditioned yurt is not for me."
Bruce, 55, is happy his band - also made up of Steve Harris, Dave Murray, Adrian Smith, Nicko McBrain and Janick Gers, played rock festival Sonisphere instead.
He said: "We'll leave the middle classes to do Glastonbury and the rest of the great unwashed will decamp to Knebworth and drink lot of beer and have fun."
Glastonbury Festival takes place in Pilton, Somerset from June 27 to June 29 and Metallica will join fellow headliners Arcade Fire and Kasabian.
Acts including Ed Sheeran, Jack White, Blonde and Lily Allen will also take to the stage.

Viggo Mortensen embraces the "ugly side" of characters, according to Hossein Amini.
The 'Lord of the Rings' star plays organised criminal Chester MacFarland in the big screen adaptation of the Patricia Highsmith novel 'The Two Faces of January', and his director believes he was the perfect choice.
Speaking about Mortensen's ability to bring out the dark side of human nature, Amini told Variety: "I love the cruelty in her [Highsmith's] writing. Viggo really embraces the ugly side of characters ... not a lot of stars do."
Amini - who made his directorial debut with the film - claims it was a joy to work with Mortensen and his co-stars Kirsten Dunst - who plays his wife Colette MacFarland - and 'Inside Llewyn Davis' star Oscar Isaac, as they needed little direction.
He said: "I learned to say as much as possible by saying as little as possible."
The 48-year-old director was a university student when he first began reading Highsmith's novels such as 'Strangers on a Train' and 'The Talented Mr. Ripley' and he's confessed he's wanted to make 'The Two Faces of January' into a film for over a decade.
Mortensen currently has a number of films in post-production, including 'Mojave', 'A Most Violent Year' and 'Ex Machina'.
The 55-year-old actor previously admitted he wasn't interested in starring in box office hits as he's motivated by good storylines.
He said: ""I don't care whether it's a blockbuster or not ... I'm not worried about it."

Jon Spaihts is in talks to write the script for 'Doctor Strange'. The screenwriter and author has reportedly entered into negotiations with Marvel Studios to write the script for their latest comic book picture which follows a neurosurgeon, who become...

Lena Dunham and her boyfriend are old souls.
Guitarist Jack Antonoff - who is one-third of 'We Are Young' hitmakers Fun. - has revealed the pair quickly hit it off when they began dating in 2012 because they both prefer dinner parties and relaxing spa days to partying.
Jack - who lives with the 'Girls' star in New York - said: "Here's a perfect story for what we're like ... one time we were at a dinner party where everyone was over 60 and, before we knew it, we realised that everyone at the table had gone outside to smoke pot and they didn't invite us. That basically says it all."
The 30-year-old musician can vividly recall meeting Lena, 28, on a blind date after being set up by his pal, comedian Mike Birbiglia, and he felt compelled to share details of his "whole life", including his high school romance with A-list star Scarlett Johansson, with the writer-and-actress on their first date.
He explained: "It was a blind date by modern standards. I mean, I used the internet.
"I told Lena everything about my whole life, because when you really like someone, you want them to know everything about you."
Meanwhile, Jack admits he is "desperate" to become a father now he's settled down.
He told New York Magazine: "It just seems like the most fun thing in the world. I've never met people who have kids who haven't looked me in the eye and been like, 'It's the greatest thing that's ever happened.'
"I think it's biological. I'm 30. I'm not that young, right? I'm not, like, 24 or 22. I'm no longer in the phase of my life where I talk about everything as in the future. Like, I'm in the future."

Samuel L. Jackson wanted to "scream" when he first came to England because he couldn't get a good hamburger.
The 'Snakes on a Plane' star has admitted he dreaded travelling to London in the 80s because the state of British cuisine was so bad compared to what it is now.
Fortunately, the 64-year-old actor no longer has to go hungry in the UK capital after learning where to find a proper "American hamburger".
Speaking to The Daily Telegraph newspaper, he said: "The food has gotten so much better since the 80s. When I first started coming here I could scream! Now, if I want an American hamburger, I know where to find one. I don't have to go to a Wendy's."
The BAFTA winner is now looking forward to spending his summer in the capital shooting the new Warner Bros. 'Tarzan' remake alongside Margot Robbie, Chistoph Waltz and Alexander Skarsgard.
He said: "I'm sort of enjoying my time. That will be my summer: spent in my air-conditioned bug-free jungle in London.
Although Samuel's role in the picture is yet to be confirmed, it is thought he will star as Tarzan's rival, a Congolese warlord, or his ex-mercenary sidekick George in the film which set for release in 2016.

'True Blood' star Stephen Moyer is working on turning the TV show into a Broadway musical.
The actor, who plays blood-sucker Bill Compton in the popular HBO vampire series, has teamed up with composer Nathan Barr to transfer the show to the stage.
Speaking to the New York Daily News' Confidenti@l column at the season seven premiere of 'True Blood' this week, Stephen said: "I helped Nathan with some of the songs and we presented them to producers. It is really interesting what he is doing and the music was actually quite good."
And although Stephen is happy to help behind the scenes, he insists he won't be playing 'Vampire Bill' on Broadway, despite starring in NBC's successful live telecast of 'The Sound of Music', because he and his co-star wife Anna Paquin have to look after their 20-month-old twins Charlie and Poppy.
He said: "Working in Broadway is tough and we have a young family here in L.A. And this stage show would be a younger man's role.
"It's time for me to move on from this now. I have loved every minute of it, but Anna and I are laying it to rest."
The 44-year-old actor, who directed the final season, also insists he had no problem watching hunk Joe Manganiello nibble on his wife in five minutes of sex scenes which were filmed for the show and had to be edited down.
He said: "If anything, I wanted it to be longer because I directed that scene as a really powerful moment to show that these two characters do really love one another.
"Anna doesn't really say anything about these sex scenes any more, after what we've done on the show. But I thought she and Joe looked good together.
"I've directed all of Joe's sex scenes in the show, and we are good mates. So I just said to him beforehand, 'Joe, just go for it,' And he did!"