Yeah, I'm aware (fellow countryman here ;), but as far as I know Spain hasn't had our eternal crisis. In fact, I believe they had a decent surplus for a number of years.
The problem with Spain is that every time a new government is elected they decide to change the education system. And not for a better one. So there's no plan for the near future, and the investment of R&D is ridiculous and inefficient (half of the funds are never granted). The best of the best have to leave the country.