Spanish restoration of the Hapsburgs?

Redcoat

Banned
(And yes if you're asking, I did put this in the right forum)

Anyways, apparently it turns out that before Franco died, he asked the leader of the Habsburgs at the time, Otto von Habsburg to lead the Spanish monarchy. At the time there was debate over which branches to choose and he decided that since the Habsburgs did rule over Spain during its golden age, he might as well ask him. Otto declined, because well the Habsburgs hadn't ruled Spain for centuries. What if he said yes?
 
Otto was highly committed to the EU and a major advocate for a variety of processes that we'd consider an integral part of democracy, notably the rights of refugees and free movement of peoples, from what I've read. I'd say that he'd very quickly work to redemocratize Spain much like OTL, however, his ascension to the throne would split the Right between Bourbonists and Habsburgists, and generally weaken the prestige of the monarchy and monarchism as a whole. Rendering the monarchy a subject of that much degree of partisanship would, IMO, in turn greatly increase support for the Spanish republicans. I could picture Podemos or an equivalent becoming explicitly Republican and taking power in the political climate during and after the 2008 crisis and abolishing the monarchy either immediately or after the death/retirement of Otto.
 
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