France's Premier Lecornu Steps Down Following Under a 30-Day Period in Office
The nation's PM Sébastien Lecornu has resigned, under 24 hours after his ministers was presented.
The French presidency confirmed the news after Lecornu met President Emmanuel Macron for an 60-minute discussion on Monday morning.
This surprising decision comes only under four weeks after he was appointed prime minister following the collapse of the prior administration of François Bayrou.
Parties across the board in the French parliament had strongly opposed the structure of the new government, which was largely unchanged to the previous one, and vowed to reject it.
Calls for Early Elections and Government Unrest
Several parties are now demanding new parliamentary polls, with certain voices calling for Macron to resign too - although he has consistently affirmed he will not stand down before his term ends in five years from now.
"The President needs to choose: calling new elections or resignation," said Sébastien Chenu, one of key representatives of the National Rally.
Lecornu - the previous military head and a ally of the President - was the fifth premier in a two-year span.
Context of Government Turmoil
French politics has been markedly turbulent since last summer, when snap parliamentary elections resulted in a no clear majority.
This has made it difficult for each PM to garner the necessary support to pass any bills.
The previous administration was voted down in autumn after parliament refused to back his fiscal tightening package, which aimed to cut state costs by €44bn.
Financial Challenges and Market Reaction
France's deficit stood at nearly 6% of the economy in 2024 and its public debt is 114 percent of GDP.
That is the third highest public debt in the European monetary union after Greece and Italy, and amounting to almost €50,000 per French citizen.
Stocks fell sharply in the Paris bourse after the resignation report was released on the start of the week.
