1. A computer program product for error recovery, the computer program product comprising: a tangible storage medium readable by a processing circuit and storing instructions for execution by the processing circuit for performing a method comprising: creating, by a processor, a software recovery checkpoint; dynamically switching, by the processor, into a non-recoverable processing mode of operation based on creating the software recovery checkpoint, the non-recoverable processing mode of operation being a mode in which a subset of hardware error recovery resources are powered-down or re-purposed for instruction processing; determining, during the non-recoverable processing mode of operation, that a new software recovery checkpoint is required; and based on the determining that a new software recovery checkpoint is required, dynamically switching, by the processor, into a recoverable processing mode of operation, the recoverable processing mode of operation being a mode in which hardware error recovery resources, including at least one of the hardware error recovery resources in the subset, are purposed for hardware error recovery operations.