King Philip Of Spain, Why Did He Renounce His Inheritance?

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

Given the overwhelming evidence that is emerging as a result of the investigation initiated in Spain regarding the fortune of King Emeritus Don Juan Carlos, his son, King Felipe VI, announced this Sunday in a statement that he is renouncing the inheritance that may personally correspond to him and he also withdraws the pay that he has assigned from the crown to his own father.

This investigation of the previous king of Spain grew because of an irregular payment of more than one hundred million dollars that Juan Carlos I received from the hands of Saudi Arabia in 2008.

According to the BBC, in the Swiss press it was revealed that the aforementioned financial transaction took place there and they are trying to find out if that money is related to the payment related to the contract that the Saudi Arabian royal family awarded to a Spanish consortium for the construction of the AVE (high-speed train) between Mecca and Medina.

In his statement, King Felipe VI assured that he renounces: “any asset, investment or financial structure whose origin, characteristics or purpose may not be in accordance with loyalty or with the criteria of rectitude and integrity that govern its institutional and private activity. and that they must report the activity of the Crown”.

Difficult times for Spain, a country plagued by the coronavirus. Queen Letizia herself had to be quarantined about a week ago, and many members of the government have contracted the disease. Now, the whole country is locked up at home and isolated in quarantine, by order of the President and to try to avoid the catastrophe that happens in Italy.