Madrid, June 19 (IANS/EFE): Felipe VI was sworn in Thursday as the new king of Spain.
Felipe acceded to the throne at the stroke of midnight after his father, Juan Carlos de Borbon, formally abdicated Wednesday.
The speaker of the lower house of Parliament, Jesus Posada, swore in the new monarch.
The nearly 700 members of the lower house of parliament and Senate, the entire Cabinet and more than 100 special guests were in attendance for Felipe's swearing-in ceremony in Madrid.
Felipe VI then delivered his first address as the king, expressing his gratitude and respect towards the crown and parliament.
The 46-year-old king said he was starting his reign "with deep emotion over the honour that it is to assume the Crown, aware of the responsibility it entails and with the greatest of hopes for the future of Spain".
Felipe VI said he wanted to express his "gratitude and respect" toward his father, Juan Carlos de Borbon.
The new king said his father's reign had been "exceptional" and Juan Carlos leaves "an extraordinary political legacy" by having been the "king of all the Spaniards".
Felipe also praised his mother, Queen Sofia, thanking her for "a lifetime of outstanding work".
"Today, more than ever, citizens demand with good reason that moral and ethical principles be upheld, and that exemplariness preside over our public life. And the king, as the head of state, must not only be an example, but also a servant to that just and legitimate demand of the citizens," King Felipe VI said.
Leonor, the eldest daughter of King Felipe VI and Queen Letizia, will automatically become Princess of Asturias and heir to the throne.
Juan Carlos ascended to the throne Nov 22, 1975, and Felipe de Borbon became Prince of Asturias in January 1977.