Photos: Spain's King Felipe VI begins a new reign : The Guardian

Spain's King Felipe VI has being formally proclaimed monarch after King Juan Carlos abdicated so that younger royal blood can rally a country beset by economic problems.

Spain's King Juan Carlos signs an abdication law in the presence of Queen Sofia during a ceremony at the Royal Palace in Madrid, Spain, on Wednesday. More pics after cut..

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. Photograph: Juan Medina/Reuters

People holding Spanish flags walk past a poster showing Spain's new King Felipe VI and his wife Queen Letizia in Madrid. Photograph: Jon Nazca/reuters

King Juan Carlos places the sash of the captain general of the armed forces on his son King Felipe VI of Spain in a ceremony held in Zarzuela palace. Photograph: Zipi/EFE/Getty Images

Ushers stand next to the crown before the proclamation to parliament. Photograph: Paco Campos/Reuters

The Spanish Royal Family ride in a Rolls Royce on the way from the Zarzuela Palace to the Congress of Deputies for a swearing in ceremony before both houses of parliament. Photograph: Pedro Armestre/AFP/Getty Images

Wellwishers gather at the Royal Palace. Photograph: Christopher Furlong/Getty Images

King Felipe VI, Queen Letizia, their daughters, Princess Leonor of Asturias, second left, and Princess Sofia, left, and Spanish Prime Minister Mariano Rajoy stand for the national anthem. Photograph: Sergio Barrenechea/EPA

Spain's Queen Letizia reaches over to her daughter Princess Leonor of Asturias during the official proclamation. Photograph: Paco Campos/EPA

Spain's King Felipe VI stands during a swearing in ceremony. Photograph: Dani Pozo/AFP/Getty Images

Spain's King Felipe speaks during the swearing in ceremony. Photograph: Dani Pozo/AFP/Getty Images

Spain's new King Felipe VI, Queen Letizia, Princess Sofia and Princess Leonor attend the swearing-in ceremony at the Congress of Deputies in Madrid. Photograph: Juan Medina/reuters

King Felipe VI and Queen Letizia in a parade through the streets of Madrid from the Congress of Deputies to the Royal Palace. Photograph: Gonzalo Fuentes/Reuters

King Felipe VI greets crowds of wellwishers as he arrives at the Royal Palace. Photograph: Christopher Furlong/Getty Images

Spain's new King appears on the balcony of the Royal Palace with his family. Photograph: Andrea Comas/Reuters