This afternoon TRH Prince Felipe and Princess Letizia of Asturias were at the Academia de la Lengua in Madrid, Spain. The couple were apart of the presentation of “… the new spelling of Spanish Language…”
According to the Spanish channel, RTVE.es:
One of the novelties of the new spelling is that Prince is written in lowercase p. All titles, positions or employment of any rank are common, and therefore should be initial lower case. Examples include king and pope.
Here is a video clip, in Spanish, with some explanations.
Photos courtesy of Daylife.com by Carlos Alvarez/Getty Images and noticias.terra.es