On September 12, 1931, Ferdinand formally announced his abdication.
The next day, Little Ferdinand was crowned emperor—Ferdinand II had made his earth-shaking debut.
Though everyone had known it was coming, they were still profoundly shocked. At the height of the empire—and at the height of his personal power—Ferdinand had chosen to abdicate. He had set a precedent in history.
Ferdinand was now delivering his abdication speech in Parliament, rather like a star announcing his retirement while his fans refused to accept it.
At this moment, the people of Bulgaria did not want Ferdinand to abdicate either. Though Little Ferdinand seemed quite capable, he still did not inspire the same reassurance as the Great Emperor.
"Today, I am very pleased to meet with you all here. From my accession in 1887 until today, I have sat in this position for forty-four years!
Time spares no man. The hot-blooded youth I once was is gone; all that remains now is an old man in the twilight of his years.
Frankly speaking, sitting in this position, I have spent every day treading on thin ice, terrified that one wrong move, one mistaken decision, might lead this nation into the abyss.
It has not been easy for Bulgaria to reach where it stands today. This is the shared achievement of all Bulgarian people, as well as the grace of God.
Now that I am old, such days of walking on eggshells no longer suit an old man.
Therefore, I have made a decision: to pass the throne to my eldest son, Little Ferdinand. He is still young and strong, and can shoulder this responsibility.
This world is destined to belong to the young. I believe Bulgaria's next generation can bear this heavy burden and develop this country..."
Inside the Parliament building, Ferdinand spoke without