Joaquin Almunia has taken over from Pedro Solbes as the European Commissioner for Economic and Monetary Affairs. Joaquin Almunia was the first Socialist to succeed Felipe Gonzalez as the leader of the PSOE party, and resigned when the Socialists lost the 2000 elections to the Popular Party. His resignation led to party elections in which Jose Luis Rodriguez Zapatero was voted as the new leader of the Socialist Party. Almunia has already accepted his new post in the European Commission and has said that he will continue the policies already adopted by Solbes to take disclipinary measures against the United Kingdom, Netherlands and Italy for not respecting the deficit limits established for 2003.