Europe is embroiled in a major crisis. One by one, Eurozone countries have been toppling into unsustainable debt. The continent is expected to face serious recession during 2012, as the ability of economically stronger Eurozone members to bail out the weaker is exhausted.

Following Greece, then Italy, Spain has become the latest focus of concern and also the latest nation to face a radical change in government. In both Greece and Italy, technocratic administrations — unelected — are now in place. Spain's governmental overhaul, however, came at the hands of its electorate, when opposition conservatives won a landslide victory in November. And, in further contrast to the technocrats of Greece and Italy who have promised to move fast to alleviate their countries' economic woes, Spain's new administration does not, by law, take office until late in December.

So it remains to be seen what will become of Spain's Severo-Ochoa scheme, established by the outgoing administration expressly to preserve excellence in its science programme in the face of economic difficulties. Eight research centres, including the Barcelona Supercomputing Centre and the Instituto de Ciencias Fotónicas, have so far won funding of €5 million over the next five years.

According to the 2010 Science, Technology and Industry Outlook produced by the Organisation for Economic Co-operation and Development (of which 34 countries are members), Spain and Greece produce a percentage of science and engineering degrees relative to all degrees that is higher than the OECD average; Italy's percentage matches the average. Active government strategy for the advancement of science, despite economic challenges, was also noted for Spain and Greece.

The future certainly isn't bright, anywhere in Europe. But recognition of the role of science and innovation in economic recovery — and acting to maintain it — is vital.