Prince Harry voiced his "great sadness" at bowing out entirely from representing the British monarchy as newspapers said Monday it was the best viable compromise on his desire to step back. Harry said he and his wife Meghan did not want to quit their royal duties but reluctantly accepted there "really was no other option" if they wanted to cut loose from public funding and seek their own income. His emotional remarks late Sunday were his first on the royal crisis that has shaken Britains monarchy, after the couple announced their wish to step back as front-line royals. The Duke and Duchess of Sussex will no longer represent his grandmother Queen Elizabeth II, must give up their honorary military appointments and will no longer receive public funds. Under their agreement with the queen, the couple will no longer be referred to as his or her royal highness. "It brings me great sadness that it has come to this," Harry told a London dinner for his Sentebale charity, which helps AIDS orphans in Lesotho. The prince and his US former actress wife have struggled with the scrutiny since their wedding in May 2018 and the 35-year-old said there was no alternative way to achieve "a more peaceful life" with their baby son Archie. "I havent always got it right, but as far as this goes there really was no other option," he said in prepared remarks. "Our hope was to continue serving the Queen, the Commonwealth, and my military associations, but without public funding. Unfortunately, that wasnt possible." Harry also confessed to some trepidation at taking the momentous step of leaving daily duties and charting a new life in Canada. "We are taking a leap of faith," he said. Harry and Meghan plan to spend most of their time in Canada. Beginning this spring they will stop using their "royal highness" titles and will lose all access to public funds once they stop carrying out official functions. The couple agreed to repay £2.4 million ($3.1 million) of taxpayers money spent on renovating their new Frogmore Cottage home on the Windsor Castle estate.