Jonathan Hill has resigned as Commissioner for Financial Stability, Financial Services and Capital Markets Union, which will take effect on 15 July 2016. Vice-President Valdis Dombrovskis, who is currently responsible for the euro and social dialogue, has been asked to take over from Lord Hill. Under the EU treaties, there should be one Commissioner per member state in the Commission and President Juncker has stated that he is ready to discuss potential names for a Commissioner of UK nationality, as well as the allocation of a possible portfolio, with the Prime Minister.