The French PM Lecornu Resigns After Under a Month in the Role
The French Premier Sébastien Lecornu has handed in his resignation, shortly after his government team was announced.
The French presidency made the announcement after the Prime Minister met Macron for an meeting on Monday morning.
This surprising decision comes only 26 days after he was named premier following the collapse of the prior administration of François Bayrou.
Political factions in the French parliament had strongly opposed the structure of the new government, which was largely unchanged to Bayrou's, and promised to block its approval.
Demands for Early Elections and Government Instability
Several parties are now demanding a snap election, with certain voices urging Macron to step down as well - even though he has repeatedly stated he will not stand down before his term ends in 2027.
"The President needs to choose: dissolution of parliament or stepping down," said Sébastien Chenu, one of prominent members of the National Rally.
Lecornu - the previous military head and a ally of the President - was the fifth French PM in less than 24 months.
Context of Political Crisis
French politics has been highly unstable since mid-2024, when sudden national voting resulted in a hung parliament.
This has made it difficult for every premier to obtain required votes to approve legislation.
The previous administration was voted down in autumn after the assembly declined to support his spending cuts plan, which aimed to slash government spending by 44 billion euros.
Economic Challenges and Market Response
The nation's budget gap stood at 5.8 percent of economic output in 2024 and its national debt is more than the total economic output.
That is the third highest public debt in the euro area after two southern European nations, and amounting to almost €50,000 per French citizen.
Stocks fell sharply in the Paris bourse after the resignation report broke on Monday morning.