Moncloa Pacts
1977 economic and political pacts during Spanish transition to democracy / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Moncloa Pacts?
Summarize this article for a 10 year old
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 15, 1977 at the Palacio de la Moncloa by representatives of the major labor unions — the Unión General de Trabajadores (UGT) and the Confederación Nacional de Trabajadores (CNT) and the government. The objective was to reduce the foreign deficit and reduce inflation.[1] After signing, the Pacts were ratified by Spain's Congress of Deputies on October 17 and the Spanish Senate on November 11.