WI: United Kingdoms of Spain

POD: Late 1970s (far enough back that this avoids Current Politics status, I must presume). The political coalition that pulled together to break Franco's dictatorship after he keeled over included rather more secessionists, indeed enough that they took the level of federation even further to full Austria-Hungary levels in the name of restoring the old Fueroes (and adding a new one or two).

The Kingdoms of Castille-Leon, Catalonia-Aragon, Upper Navarre, The Canaries, & Galicia-Asturias all share a Monarch in Juan Carlos/Joan Carles/Jon Karlos/Xoán Carlos/etc., a Ministry of Foreign Affairs for external matters, shared/pegged currencies along with firmly networked central banks, open borders, a pledge to respect universal suffrage/human rights, and joint administration of the rail net/airports. For practial reasons a lot of other details are shared as well, and Castilian's status in what is left of the central government means it is a backup language throughout, but legally speaking there are several independent constitutional monarchies in personal union (and Portugal) in Iberia.

How does this affect succession movements down the line?
 
extremely unlikely, this would mean a jump from a totally centralized state to a confederation. The OTL degree of agreed descentralization is the maximum the central power and the army were willing to accept, and on the other hand it was more than enough for the regional parties, and had wide consensus within the population.
 
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