Spanish King Juan Carlos (right) with his son Crown Prince Felipe. Photo: Susana Vera/Reuters

Spain’s next king, Felipe VI, strikes a low-key contrast to his extrovert father, which could help him restore popularity to a monarchy battered by scandal.

The 46-year-old, married to a former TV news anchor, has not been implicated in the allegations of royal extravagance and corruption that tarnished the last years of the reign of his father Juan Carlos.

But the legacy of the 39-year reign of the once beloved king hangs over him and Spain no longer needs the monarchy for political stability as it did when his father took on the role to oversee the transition from dictatorship to democracy.

Prime Minister Mariano Rajoy announced Juan Carlos’s planned abdication on Monday, saying Prince Felipe was well prepared to take over.

His preparation, his character and the wide range of experience he has been aquiring in public affairs over the last 20 years are the solid guarantee that he will be able to carry out his role

“His preparation, his character and the wide range of experience he has been acquiring in public affairs over the last 20 years are a solid guarantee that he will be able to carry out his role,” said Rajoy.

A royal source said the transition was for political reasons. A wave of scandals has eroded the royal family’s credibility, leaving it looking decadent and out of step with a nation which has suffered a prolonged economic crisis. Felipe is very different from his extravagant 76-year-old father Juan Carlos I and, while friendly in public, prefers an understated lifestyle.

That may help clean up the royal image if the palace is capable of assimilating a level of scrutiny unknown before the age of online social networks.

The prince has not been tarnished by a corruption investigation involving his brother-in-law, Inaki Urdangarin, and a poll earlier this year showed 66 per cent of Spaniards view him in a positive light.

But support for the monarchy has fallen and the privileged lifestyle of the royals has irked many Spaniards struggling to make ends meet.

Felipe Juan Pablo y Alfonso de Todos los Santos de Borbon y de Grecia – his full name – lacks the “common touch” of his father – famous for giving bear hugs. But he is far more at ease with people than the British royal family.

“Felipe is grounded, well-informed, has good judgement but will follow advice,” says Bieito Rubido, editor of monarchist century-old newspaper ABC.

“And something which is very important in Spain – he’s not earthy but he does know how to connect with people.”

The soon-to-be-crowned king has led a low-key private life with his commoner wife, a divorcee former journalist, and two daughters, often seen at a cinema in central Madrid or taking his daughters to school.

Royal observers think his lifestyle is informed by both his natural character and his awareness of the times. He has taken pains to position himself as a believer in public service rather than one of the easy-living monarchs of the past.

“The current economic crisis... requires serious reflection as to how the collective spirit can... recover values that have, in recent times, gone astray,” Felipe said in a 2012 speech, referring to “generosity, integrity, effort and excellence”.

The prince has had a lifetime’s training for a position which has changed dramatically since dictator Francisco Franco designated Juan Carlos as his successor and put him on the throne, from where he oversaw the dark years of the transition to democracy.

The royal source said that was when the king took the decision to abdicate, delaying the announcement so that it did not impact on the EU elections held late last month. The younger brother of the Princesses Elena and Cristina, Felipe was educated at a middle class day school close to his parent’s residence in Madrid. His daughters, Leonor and Sofia, now both attend the same school.

Keen on sport, particularly sailing, he went to university in his home city and like most of Spain’s ruling class studied law. He completed military training and then headed to Georgetown, Washington to study international relations.

The 1.97m-tall prince was regarded as a playboy in his 20s. Two of his girlfriends were rejected by his parents as inappropriate partners, one because she had been an underwear model.

Felipe’s greatest rebellion was to refuse to back down when his parents objected to him marrying Letizia Ortiz, a divorcee TV presenter whose grandfather worked as a taxi driver.

It may be proof that he has inherited something of his mother Queen Sofia’s iron will.

He married Letizia in 2004 and some royal observers believe his choice was key to the survival of the monarchy. But since then the princess has reaped criticism for wanting to ring-fence her private life.

In an era when job security, perhaps even for the prince, is a thing of the past, the success of the monarchy will lie in Felipe’s ability to convince younger Spaniards that the royal stipend can be justified.