France's Premier Lecornu Tenders Resignation Following Under a 30-Day Period in Power
The nation's PM Sébastien Lecornu has resigned, under 24 hours after his cabinet was presented.
The presidential office confirmed the news after Lecornu met the French President for an meeting on Monday morning.
This surprising decision comes only under four weeks after he was named premier following the collapse of the previous government of his predecessor.
Various groups in the legislature had strongly opposed the composition of his ministerial team, which was very close to Bayrou's, and vowed to reject it.
Pressure for Snap Polls and Government Instability
Several parties are now demanding new parliamentary polls, with some urging Macron to also leave office - even though he has repeatedly stated he will not stand down before his time in office finishes in 2027.
"The President needs to choose: calling new elections or resignation," said Sébastien Chenu, one of key representatives of the National Rally.
The outgoing PM - the former armed forces minister and a supporter of Macron - was the fifth premier in less than 24 months.
Context of Government Crisis
French politics has been very volatile since July 2024, when early legislative polls resulted in a hung parliament.
This has created challenges for any prime minister to garner the necessary support to pass any bills.
The previous administration was voted down in September after parliament declined to support his fiscal tightening package, which aimed to reduce public expenditure by 44 billion euros.
Economic Challenges and Stock Response
The French shortfall reached nearly 6% of the economy in 2024 and its public debt is more than the total economic output.
That is the third largest government debt in the euro area after two southern European nations, and amounting to almost 50k euros for each resident.
Stocks fell sharply in the Paris exchange after the announcement about the PM broke on Monday morning.
