With a POD after 1900, make Spain a credible power in Europe by the time WW2 begins. It may or may not have been neutral in WW1, but I suspect it will have been because I dont think it has much to gain by entering that conflict. The idea is that by the time WW2 starts, Spain is strong enough that it is taken to be a serious potential ally/enemy of the major combatants. Bonus points if Spain controls Gibraltar post WW2 (peacefully or taken).