France's Premier Lecornu Steps Down After Under a Month in Office
The nation's PM Sébastien Lecornu has stepped down, less than a day after his government team was announced.
The Elysée palace made the announcement after Lecornu met Macron for an hour on the start of the week.
This unexpected development comes only 26 days after he was appointed prime minister following the collapse of the prior administration of François Bayrou.
Parties across the board in the legislature had strongly opposed the makeup of the new government, which was very close to Bayrou's, and vowed to reject it.
Calls for Early Elections and Political Unrest
A number of factions are now clamouring for new parliamentary polls, with some urging the President to also leave office - despite the fact that he has repeatedly stated he will not leave before his mandate concludes in five years from now.
"Macron needs to pick: parliament's dissolution or resignation," said Sébastien Chenu, one of key representatives of the far right National Rally (RN).
The outgoing PM - the ex-defense chief and a ally of the President - was the fifth premier in under two years.
Context of Political Turmoil
The nation's governance has been markedly turbulent since mid-2024, when snap parliamentary elections resulted in a no clear majority.
This has posed obstacles for every premier to obtain required votes to pass any bills.
Bayrou's government was rejected in last month after lawmakers refused to back his austerity budget, which aimed to slash government spending by €44bn.
Economic Pressures and Market Response
The nation's budget gap hit nearly 6% of the economy in 2024 and its public debt is 114 percent of GDP.
That is the third largest government debt in the eurozone after Greece and Italy, and amounting to almost €50,000 per French citizen.
Stocks fell sharply in the French stock market after the news of Lecornu's resignation was released on the start of the week.
