Taking into account comments made elsewhere, I've revised the timeline for Spain.  I've tried to keep close to the actual events of history with minor tweaks and moderate twists necessary to fit things into the official game timeline.  Input, suggestions, and comments more than welcome. :oops:

1898- The war with the United States ended with the independence of Cuba and the loss of Guam, Puerto Rico, and the Phillipines to the U.S. for the sum of $20 million.  The U.S. quickly annexes their new territories.  Spain is left with Morocco as its sole significant extra-territorial holding and fading from the stage of world power.

1899- The Queen Regent of Spain appoints Francisco Silvela to the post of Prime Minister in March of 1899.  Silvela begins immediate reform, one of his appointees creating the "Villaverde Reforms".  These reforms stabilize the country economically and allows the economy to begin recovering.

1901- The Great Powers of the world experience a series of traumatic events, beginning with the death of Queen Victoria.

Later this same year, the Martians attack England, France, the U.S., and Germany. 

1902- King Alfonso XIII comes to the throne of Spain on his 16th birthday.  He is well meaning but not well educated and focuses on Spain's security, unity, and prestige.  Under the advice of Silvela, King Alfonso brokers a deal with France and Britain to provide assistance in their efforts to recover from the damages inflicted by the martians.  This agreement further shores up the recovering economy of Spain.  Alfonso insists on modernizing the military.  As a result, Spain also begins to industrialize though lags behind her neighboring countries.

1903- Silvela resigns as Prime Minister in disgust over corruption in the government.  The economic recovery falters as several governments come and go over the course of months.  The military becomes increasingly disgruntled over their lack of prestige in Europe.

1904- King Alfonso trades off a large portion of Morocco to France for resources and technologies needed to construct a modest squadron of aetheric vessels.  It is the hope of the crown that this will increase the prestige of Spain and its military as well as open the door for new holdings and wealth to further revitalize the country.

Political, social, and religious turmoil prevents any immediate development of the aetheric vessels. 

1906- An assassination attempt on the life of King Alfonso XIII by social radicals galvanizes the crown to action.  The Moret government fails in the aftermath. 

1907- Antonio Maura comes to power as the Prime Minister and institutes another series of sweeping reforms, strengthening Spain's defenses and economy.  Among the many projects instituted under his government was the long postponed development of the Flota del Aether. (Aether Fleet)  The moral of Spain's military is bolstered by this action. 

Relations with other countries begins to falter as Maura's "no nonsense" style of government causes frictions.

1908- Late September of this year, Spain launches the first of the Flota del Aether, the Frigate Tiburo'n.  The corvette Padro'n and cruiser Bayonne follow in October.   By December, the small squadron sets sail to explore the wilds of the moon.