King of Spain discloses assets of almost 2.6 million euros, in effort for transparency

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In a move for transparency, King Felipe 6th of Spain disclosed that he had a net worth of 2.57 million euros (about R$13.5 million), in the first announcement of its kind made by the Casa Real, highlighting the monarch’s efforts to make the institution “worthy of the respect and trust of citizens”.

“His Majesty the King, guided by that same spirit of service and civic commitment, today adds to his constitutional responsibilities the personal decision to make his patrimony public, which amounts to 2,573,392.80 euros”, indicates the released note. on Monday afternoon (25) by the Royal House.

The king’s assets include just under 2.3 million euros (R$12.1 million) in current or savings accounts and bonds, as well as works of art, antiques and jewelry, worth over 305,000 euros (R$305,000). $1.6 million), according to the report, which did not mention any property or real estate.

Shortly after, the government informed that the Council of Ministers will approve this Tuesday a decree “in which the structure and functioning of the Royal House are reformed”. Now, gifts given to the king will become his personal property, will be transferred to the state or donated to charity, and high officials of the monarchy, who are often selected from among civil servants, will have to declare their assets.

First as Prince of Asturias and since 2014 as King of Spain —after the abdication of his father, Juan Carlos—, Felipe has amassed gross assets of 4,275,796.94 euros, before tax deductions.

The decision of Felipe 6º, 54, comes after the Spanish Prosecutor’s Office announced, in March, the shelving of investigations against King Emeritus Juan Carlos, which led him to move to the United Arab Emirates.

The monarch also renounced his father’s inheritance and removed him from the list of those receiving a royal allowance. According to the Spanish press, the value of this subsidy amounted to more than 194 thousand euros per year.

The Spanish Supreme Court Prosecutor had opened the investigation against the King Emeritus to check for possible involvement in a bribery scheme in the construction of a railway for high-speed trains connecting Mecca to Medina, Saudi Arabia, which became known as Desert Bird.

As part of efforts to modernize the monarchy and distance himself from scandals, the king even removed his older sisters Elena and Cristina from royal duties. “Today, more than ever, citizens demand that moral and ethical principles inspire and that example guide our public life,” he said.

Other European monarchies, such as the British and the Belgian, already apply such transparency measures.

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