The Monarch explained in May 1989 to General Manglano, head of the Spanish spies between 1981 and 1995, how he raised the funds to finance the first years of democracy in Spain.
How was the Transition financed? Emilio Alonso Manglano, director of Cesid from 1981 to 1995 obtained very precise information more than thirteen years after the death of Franco and the proclamation of Don Juan Carlos. And it was the King himself who gave it to him. All this appears included in the agendas, hitherto unpublished, of the former chief of the Spanish spies.
The monarch explained in May 1989 to Manglano how he raised the funds to finance the first years of democracy in Spain. The 36 million euros sent by Khalid bin Abdulaziz, who reigned in Arabia between 1975 and 1982, allowed to build the new policy after the death of Francisco Franco. The funds originated in black gold,
according to unpublished documents published by ABC.
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