France's Premier Sébastien Lecornu Tenders Resignation After Under a 30-Day Period in Power
The nation's PM Sébastien Lecornu has stepped down, shortly after his government team was presented.
The French presidency issued a statement after Lecornu met President Emmanuel Macron for an 60-minute discussion on Monday morning.
This surprising decision comes only under four weeks after Lecornu was appointed prime minister following the downfall of the previous government of François Bayrou.
Parties across the board in the French parliament had fiercely criticised the makeup of Lecornu's cabinet, which was largely unchanged to Bayrou's, and promised to block its approval.
Demands for Snap Polls and Government Instability
Several parties are now clamouring for new parliamentary polls, with some urging Macron to step down as well - even though he has always said he will not stand down before his time in office finishes in 2027.
"The President needs to pick: calling new elections or leaving office," said Chenu, one of prominent members of the National Rally.
The outgoing PM - the ex-defense chief and a ally of the President - was France's fifth prime minister in a two-year span.
Background of Government Crisis
France's political landscape has been markedly turbulent since July 2024, when sudden national voting resulted in a deadlocked assembly.
This has created challenges for each PM to garner the necessary support to pass any bills.
The former cabinet was defeated in last month after lawmakers voted against his fiscal tightening package, which aimed to cut state costs by €44bn.
Financial Challenges and Stock Response
The nation's budget gap stood at 5.8% of GDP in 2024 and its public debt is 114% of GDP.
That is the third highest public debt in the eurozone after Italy and Greece, and equal to almost 50k euros for each resident.
Markets declined in the Paris bourse after the news of Lecornu's resignation emerged on the start of the week.