France's Premier Sébastien Lecornu Steps Down Following Under a Month in Power
The French Premier Sébastien Lecornu has stepped down, less than a day after his cabinet was announced.
The French presidency made the announcement after the Prime Minister met Macron for an hour on the start of the week.
This unexpected development comes only under four weeks after Lecornu was named premier following the downfall of the previous government of François Bayrou.
Political factions in the French parliament had sharply condemned the composition of Lecornu's cabinet, which was mostly similar to the previous one, and threatened to vote it down.
Demands for Early Elections and Government Instability
Multiple political groups are now demanding early elections, with certain voices calling for the President to resign too - although he has repeatedly stated he will not leave before his mandate concludes in the year 2027.
"The President needs to pick: dissolution of parliament or leaving office," said Sébastien Chenu, one of leading figures of the far right National Rally (RN).
Lecornu - the former armed forces minister and a ally of the President - was France's fifth prime minister in under two years.
Context of Political Turmoil
French politics has been very volatile since mid-2024, when snap parliamentary elections resulted in a deadlocked assembly.
This has created challenges for any prime minister to obtain required votes to enact new laws.
Bayrou's government was voted down in last month after the assembly declined to support his fiscal tightening package, which aimed to slash government spending by 44 billion euros.
Economic Challenges and Market Reaction
The nation's budget gap stood at nearly 6% of the economy in the current year and its government debt is 114 percent of GDP.
That is the third highest public debt in the eurozone after Italy and Greece, and equal to almost 50,000 euros per person.
Markets declined in the Paris exchange after the resignation report broke on Monday.