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Europe: Spain’s new King Felipe VI takes part in 1st event

Spanish Crown Prince Felipe stands during a ceremony where Spain's King Juan Carlos signed 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)

MADRID (AP) — Spain’s new King Felipe VI has taken part in the first official act of his reign, receiving the red sash of Captain General of the Armed Forces from his father Juan Carlos.

Spanish Crown Prince Felipe stands during a ceremony where Spain’s King Juan Carlos signed 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)

Felipe is being formally proclaimed monarch Thursday after 76-year-old Juan Carlos abdicated.

Felipe was to swear an oath at a ceremony with lawmakers in Parliament in front of Spain’s 18th-century crown and 17th-century scepter.

After a brief military parade, King Felipe VI and his wife Queen Letizia were to drive through Madrid in a Rolls Royce before appearing before crowds at a balcony in the royal palace.

The ceremony will be low-key so as not to clash with the tough times most Spaniards have had to cope with as the country emerges from a severe economic crisis.

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