King Carol II Abdicates

Pressured by powerful elements in his government, King Carol II of Romania saw no choice but to announce and sign his abdication. His successor is King Michael, but many of the dictatorial powers obtained by Carol have been vested back into the government and so it is unlikely the young King will be able to wield similar power as his predecessor. Following his abdication Carol appears to have emptied his expansive bank accounts and has fled into exile, taking up residence in one of Mexico City's more expensive neighborhoods with his mistress Magda Lupescu.