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Spain royals to reveal budget after corruption case

Source: Reuters - Mon 12th Dec 2011
Spain royals to reveal budget after corruption case

The Spanish royal family will disclose details of its annual spending budget for the first time, a spokesman said Monday, following a corruption probe linked to the king's son-in-law.

Inaki Urdangarin, the husband of King Juan Carlos and Queen Sofia's youngest daughter Cristina, is under investigation as part of an inquiry into the alleged misuse of public money given to the non-profit Noos Institute he presided over in Mallorca.

Urdangarin's lawyer denied any wrongdoing by his client.

"He is concerned. I would say sorrowful is the word and maybe also indignant. Why not?" Mario Pascual said on state television. "He will always clearly feel his conviction he is fully innocent."

The official website of the Spanish royal family will disclose spending before the end of the year and financial experts are studying possible cost-cutting measures for the family, a spokesman for the royal household said.

Spain's royal family receives 8.4 million euros a year to cover personal expenses, staffing and official events. Official travel and security costs are separately accounted for.

The 73-year-old Juan Carlos is widely respected across Spain for overseeing the country's tense transition to democracy following Francisco Franco's nearly four-decade-long dictatorship. His son, Prince Felipe, is heir to the throne.

Urdangarin issued a public apology over the weekend for the embarrassment his legal problems were causing the royal family, whom he said had nothing to do with the inquiry into his business affairs.

The royal family said it would distance Urdangarin, who stepped down from Noos in 2006, from official events for an undetermined length of time.

The former professional handball player currently lives in Washington D.C. with his wife and their four children.

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