The modern Spanish state was founded in 1469 with the marriage of Isabel and Fernando to the crowns of Castile and Aragon. Under their joint reign Spain recovered Granada, the last Islamic territory in the Iberian peninsula and sponsored the modern discovery of America, both events in 1492. After 1700 the French Bourbon dynasty was enthroned, with Felipe V as its first king; the present monarch, Juan Carlos I, installed in 1975, is his direct descendant.
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