On December 15, 1987, the government of President Miguel de la Madrid, the labor movement and business signed the Pacto de Solidaridad Económica, the Economic Solidarity Pact. Fidel Velázquez signed for labor and Agustín Legorreta for business.
The pact did not stay as signed. A second phase began in March 1988, with a wage increase of 3 percent. The pact was extended to November, and a fourth stage followed the president’s report of September 1, 1988. Under President Carlos Salinas, the government reinforced it with the PECE.