Iberian Republic in ~1800 ?

I dimly remember reading a timeline (might have been on old SHWI) where the French Republic remained republican in name und style longer, ie Napoleon remained First Consul Bonaparte.
In it, the French did not install Joseph B. as new king of Spain, instead a leading Spanishg politician (I think it was the Prince of Peace, Godoy, himself) declared an Iberian Republic, arrested the royal family and installed himself per constitution in a President-for-Life-like position.

I have the inkling that this would not work for long and would be almost as unpopular as a Bonaparte king, but I am far from being an expert of Spanish history.

What do you think?
 
Godoy was very unpopular. Unless he makes an economical miracle he won't las too much.

On the other hand, you have a remote possibility for a republic in 1815, when Ferdinand VI returns to Spain and abolish the 1812 Cinstitution and started to persecute seferal popular war heros from the Peninsular War...but this scenario should be worked...
 
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