Moncloa Pacts
The Moncloa Pacts (Spanish: Pactos de la Moncloa) (full title: the Agreement on the Program of Sanitation and Reform of the Economy and the Agreement on the Program of Legal and Political Action) were economic and political agreements to address inflation and unemployment during the Spanish transition to democracy and were signed on October 25, 1977 at the Palacio de la Moncloa by representatives of the major labor unions. The objective was to reduce the foreign deficit and reduce inflation.