What did Neville Chamberlain say the Munich Pact had preserved?

As Iron Man said, "peace in our time"

After the summit, Chamberlain stated that the Munich Pact meant "peace for our time".

The Munich Pact or Munich Agreement was signed in 1938 between France and Nazi Germany. France agreed not to provide military assistance to Czechoslovakia when Germany materialized their plans of occupying their territories known as "Sudetenland", which means that the would dishonour the former French-Czechoslovak alliance.

France faced a difficult choice: war or appeasement. Finally, Chamberlein submitted to Hitler's claims when the latter announced that the annexation of the Sudetenland would be his last territorial claim in Europe.