France's Premier Lecornu Steps Down After Under a Month in the Role
The French Premier Sébastien Lecornu has stepped down, less than a day after his ministers was announced.
The Elysée palace made the announcement after the Prime Minister met the French President for an meeting on the start of the week.
This unexpected development comes only under four weeks after Lecornu was named premier following the collapse of the previous government of François Bayrou.
Political factions in the National Assembly had fiercely criticised the structure of his ministerial team, which was very close to Bayrou's, and vowed to reject it.
Pressure for New Vote and Political Instability
A number of factions are now demanding new parliamentary polls, with certain voices urging Macron to resign too - even though he has consistently affirmed he will not stand down before his mandate concludes in the year 2027.
"Macron needs to choose: parliament's dissolution or leaving office," said Sébastien Chenu, one of prominent members of the far right National Rally (RN).
Lecornu - the former armed forces minister and a Macron loyalist - was the fifth French PM in less than 24 months.
Background of Political Crisis
French politics has been very volatile since July 2024, when early legislative polls resulted in a deadlocked assembly.
This has made it difficult for every premier to garner the necessary support to approve legislation.
The previous administration was voted down in autumn after lawmakers declined to support his fiscal tightening package, which aimed to reduce public expenditure by 44 billion euros.
Economic Pressures and Stock Response
The nation's budget gap reached nearly 6% of the economy in the current year and its government debt is 114% of GDP.
That is the number three debt level in the euro area after Italy and Greece, and amounting to almost €50,000 per French citizen.
Share prices dropped in the Paris exchange after the resignation report broke on Monday morning.