in the Ile-de-France region (Paris and suburbs), which were won by the PS. But as Strauss-Kahn refused to swap his ministry for the executive leadership of the Ile-de-France, Jean-Paul Huchon became the president of the regional council. In 1999, he was accused of corruption in two financial scandals related to Elf Aquitaine and the MNEF Affair, a student mutual health insurance, and decided to resign from his ministerial office to fight these charges, in agreement with the "Balladur jurisprudence". He was replaced by Christian Sautter. He was acquitted in November 2001, and was reelected in a by-election in the Val-d'Oise. As Minister of Economics and Finance, Strauss-Kahn succeeded in decreasing VAT to 5.5% for renovation works in construction, thus supporting this activity. At the same time, he decreased the budget deficit, which was more than 3% of GDP under Alain Juppé's center-right government (1995–97). He thus prepared France's entrance into the eurozone. Strauss-Kahn also repealed the Thomas Act on hedge funds, and launched the Conseil d'orientation des retraites (Orientation Council on Pensions). Strauss-Kahn succeeded in combining followers of Jospin and Rocard in the same political movement, Socialisme et démocratie, but failed to make it more than an informal network. In opposition After Jacques Chirac's success in the 2002 presidential election and the following Union for a Popular Movement (UMP)'s majority in Parliament, Strauss-Kahn was re-elected Member of Parliament on 16 June 2002, in the 8th circonscription of the Val-d'Oise. He first declined in taking part in the new leadership of the PS, then in the opposition, in the 2003 congress of the party. But he joined the party's leadership again at the end of 2004, and was given overall responsibility for drawing up the Socialist programme for the 2007 presidential election, along with Martine Aubry and Jack Lang. During the summer meeting of 2005, he announced that he would be a candidate for the primary elections of the Socialist Party for the presidential election. At the same time, Strauss-Kahn co-founded the think tank À gauche en Europe (To the Left in Europe) along with Michel Rocard. He presided jointly with Jean-Christophe Cambadélis over the Socialisme et démocratie current in the PS. Strauss-Kahn was one of the first French politicians to enter the blogosphere; his blog became one of the most visited, along with Juppé's, during his stay in Quebec. Strauss-Kahn then campaigned for a 'Yes' vote in the 2005 French