French Prime Minister Lecornu Resigns After Under a 30-Day Period in Office
The nation's PM Sébastien Lecornu has resigned, under 24 hours after his cabinet was presented.
The French presidency made the announcement after the Prime Minister met the French President for an hour on Monday morning.
This surprising decision comes only less than a month after he was appointed prime minister following the collapse of the prior administration of his predecessor.
Political factions in the French parliament had fiercely criticised the makeup of Lecornu's cabinet, which was largely unchanged to the previous one, and vowed to reject it.
Calls for Snap Polls and Government Instability
A number of factions are now demanding early elections, with certain voices demanding the President to resign too - although he has repeatedly stated he will not resign before his time in office finishes in 2027.
"Macron needs to pick: calling new elections or resignation," said Sébastien Chenu, one of key representatives of the National Rally.
Lecornu - the previous military head and a supporter of Macron - was the fifth premier in under two years.
Context of Political Turmoil
France's political landscape has been highly unstable since last summer, when snap parliamentary elections resulted in a deadlocked assembly.
This has made it difficult for every premier to garner the necessary support to approve legislation.
Bayrou's government was voted down in September after parliament refused to back his spending cuts plan, which aimed to slash government spending by 44 billion euros.
Economic Challenges and Stock Response
France's deficit stood at 5.8% of GDP in 2024 and its national debt is 114 percent of GDP.
That is the number three debt level in the euro area after Greece and Italy, and equivalent to almost €50,000 per French citizen.
Markets declined in the French stock market after the news of Lecornu's resignation was released on the start of the week.
