Good news for monarchists everywhere: the Spanish Royal family has announced that Princess Letizia, future Queen, wife of Felipe, Prince of the Asturias, future King of Spain -- is pregnant. If the child is a male, he too is a future King of Spain. While the Spanish do not bar females from the royal succession, as does, for example, Japan, precedence is given to the male line.
In any event, the senior branch of the House of Bourbon (Juan Carlos is descended directly from Louis XIV, unlike the heirs to the French royal crown), is assured to continue for another generation. The Spanish Bourbons are serious royalty -- by comparison, the British Royal House are a bunch of minor German princelings. Congratulations to the Spanish, and to the House of Bourbon.