The Pegaso suffers from dodgy connections inside the ignition housing. The symptoms can be :-

Intermittent cut-outs

Total loss of ignition

This is a fairly simple fix, providing you have a soldering iron. Take off the lower part of the ignition barrel case, resolder the wires and apply some epoxy resin to help hold in place. It is also wise to tie the wires with a cable to reduce “pulling”.

The original fix, with pictures, is shown in the Forum Thread by Genopa

The reason why this happens is there is too much current running through this circuit (the switch powers the coil) so the heat gets to work on the solder on the bottom of the switch until it eventually breaks.

A really good hot solder will do wonders in preventing this from happening.