France's Premier Lecornu Tenders Resignation Following Under a Month in Power
The nation's PM Sébastien Lecornu has stepped down, shortly after his cabinet was unveiled.
The Elysée palace confirmed the news after Lecornu met the French President for an hour on Monday morning.
This shock move comes only under four weeks after Lecornu was given the PM role following the collapse of the prior administration of François Bayrou.
Political factions in the legislature had sharply condemned the makeup of his ministerial team, which was mostly similar to Bayrou's, and vowed to reject it.
Calls for New Vote and Government Instability
Multiple political groups are now demanding early elections, with others urging Macron to step down as well - despite the fact that he has repeatedly stated he will not stand down before his mandate concludes in five years from now.
"The President needs to pick: calling new elections or resignation," said Chenu, one of leading figures of the RN party.
Lecornu - the previous military head and a Macron loyalist - was the fifth premier in under two years.
Context of Government Turmoil
France's political landscape has been markedly turbulent since mid-2024, when snap parliamentary elections resulted in a hung parliament.
This has posed obstacles for every premier to garner the necessary support to approve legislation.
The former cabinet was rejected in last month after lawmakers declined to support his fiscal tightening package, which aimed to slash government spending by 44 billion euros.
Financial Pressures and Market Reaction
The nation's budget gap reached nearly 6% of the economy in the current year and its national debt is 114% of GDP.
That is the number three debt level in the euro area after Greece and Italy, and equal to almost €50,000 per French citizen.
Stocks fell sharply in the French stock market after the news of Lecornu's resignation emerged on Monday morning.
