I don't think Spain constitutes all of Europe.
There's been a lot of debate about this in the Commons recently, Britain has interests in that area as well as America and the Soviets. With the French First Minister's visit coming up next week there's talk of an Anglo-French military intervention.
OoC: I'm thinking Spain is a very conservative, maybe fascist republic under Franco or a successor.
Also, France is a Kingdom again, with a system similar to the British model [and by that I mean the monarch has no power].