On 1 February 1908, King Dom Carlos I of Portugal and his heir apparent and his eldest son, Prince Royal Dom Luís Filipe, Duke of Braganza, were assassinated in Lisbon in the Terreiro do Paço by two Portuguese republican activist revolutionaries, Alfredo Luís da Costa and Manuel Buíça. Under his rule, Portugal had been declared bankrupt twice – first on 14 June 1892, and then again on 10 May 1902 – causing social turmoil, economic disturbances, angry protests, revolts and criticism of the monarchy. His second and youngest son, Manuel II of Portugal, became the new king, but was eventually overthrown by the 5 October 1910 Portuguese republican revolution, which abolished the monarchy and installed a republican government in Portugal, causing him and his royal family to flee into exile in London, England.