The article sheds light on the evolution of social pacts in some countriesof the Euro zone. Through a historically oriented analysis wehave studied the institutionalization of social pacts. In some countriesearly pacts have been stabilized, while in others we see an 'uneven'institutionalization. The focus on institutional dynamics andconstraints provides a first understanding of continuity and changeand contributes to deal with some of the key limits of the literatureon industrial relations. Social pacts prove to be a key part of the 'institutionalrecalibration' of modern welfare states through a moreopen multi-actor governance.