France's Premier Lecornu Tenders Resignation Following Under a Month in the Role
The nation's PM Lecornu has handed in his resignation, under 24 hours after his government team was presented.
The presidential office made the announcement after Lecornu met 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 previous government of his predecessor.
Parties across the board in the French parliament had fiercely criticised the composition of the new government, which was largely unchanged to Bayrou's, and threatened to vote it down.
Demands for New Vote and Political Instability
A number of factions are now demanding early elections, with others demanding the President to also leave office - although he has repeatedly stated he will not stand down before his term ends in 2027.
"Macron needs to pick: calling new elections or leaving office," said Chenu, one of prominent members of the RN party.
Lecornu - the ex-defense chief and a supporter of Macron - was the fifth premier in under two years.
Context of Government Turmoil
The nation's governance has been very volatile since mid-2024, when snap parliamentary elections resulted in a no clear majority.
This has created challenges for any prime minister to garner the necessary support to enact new laws.
The former cabinet was defeated in September after the assembly refused to back his fiscal tightening package, which aimed to cut state costs by €44bn.
Financial Challenges and Market Reaction
The nation's budget gap stood at 5.8% of GDP in the current year and its national debt is 114% of GDP.
That is the third highest public debt in the eurozone after Greece and Italy, and equal to almost €50,000 per French citizen.
Share prices dropped in the French stock market after the announcement about the PM emerged on the start of the week.
