French Prime Minister Sébastien Lecornu Tenders Resignation Following Less Than a Month in Office
The nation's PM Sébastien Lecornu has handed in his resignation, shortly after his ministers was announced.
The French presidency made the announcement after the Prime Minister met President Emmanuel Macron for an 60-minute discussion on Monday morning.
This shock move comes only 26 days after Lecornu was appointed prime minister following the collapse of the prior administration of François Bayrou.
Political factions in the National Assembly had sharply condemned the composition of Lecornu's cabinet, which was very close to the previous one, and vowed to reject it.
Demands for New Vote and Government Instability
Several parties are now demanding a snap election, with certain voices urging Macron to resign too - despite the fact that he has repeatedly stated he will not stand down before his term ends in 2027.
"The President needs to pick: calling new elections or leaving office," said Chenu, one of prominent members of the National Rally.
Lecornu - the ex-defense chief and a Macron loyalist - was France's fifth prime minister in a two-year span.
Context of Political Turmoil
French politics has been very volatile since last summer, when sudden national voting resulted in a no clear majority.
This has made it difficult for every premier to garner the necessary support to approve legislation.
The former cabinet was voted down in last month after lawmakers declined to support his spending cuts plan, which aimed to cut state costs by 44 billion euros.
Economic Challenges and Stock Reaction
France's deficit stood at nearly 6% of the economy in the current year and its public debt is more than the total economic output.
That is the third highest public debt in the euro area after Italy and Greece, and equivalent to almost €50,000 per French citizen.
Markets declined in the Paris bourse after the news of Lecornu's resignation was released on Monday morning.
