Spain does indeed have a king, Felipe the VI, son of former King Juan Carlos the I. If Felipe died there wouldn't be much fuss because he only ascended the Spanish throne in 2014. However I suspect that when his father dies, it will register greatly in Europe due to Juan Carlos being the man that dismantled Franco's regime upon his death and helped Spain become a constitutional monarchy and democracy and either ratified a new constitution or dusted off a pre-Franocist era one. He was no saint of course, there was plenty of controversy around his family - known in monarchies as Tuesday - and he did some very ill-considered things like going Elephant hunting during a period of economic recession which I swear is like three or four cardinal sins in one fell swoop. Plus he's living in self imposed exile due to some business dealings he had with Saudi Arabia.