France's Premier Lecornu Resigns After Under a Month in Power
France's Prime Minister Lecornu has handed in his resignation, less than a day after his ministers was announced.
The Elysée palace confirmed the news after Lecornu met President Emmanuel Macron for an hour on the start of the week.
This unexpected development comes only under four weeks after he was appointed prime minister following the downfall of the prior administration of his predecessor.
Various groups in the National Assembly had strongly opposed the makeup of Lecornu's cabinet, which was very close to Bayrou's, and threatened to vote it down.
Demands for Snap Polls and Government Unrest
Several parties are now calling for new parliamentary polls, with some urging the President to also leave office - even though he has always said he will not resign before his term ends in the year 2027.
"The President needs to decide: dissolution of parliament or resignation," said Sébastien Chenu, one of leading figures of the National Rally.
The outgoing PM - the former armed forces minister and a ally of the President - was the fifth premier in less than 24 months.
Context of Political Crisis
France's political landscape has been very volatile since last summer, when sudden national voting resulted in a hung parliament.
This has created challenges for any prime minister to secure enough backing to enact new laws.
The former cabinet was defeated in September after parliament voted against his fiscal tightening package, which aimed to slash government spending by $51 billion.
Economic Pressures and Stock Reaction
The nation's budget gap hit 5.8% of GDP in 2024 and its public debt is 114% of GDP.
That is the third highest public debt in the European monetary union after Italy and Greece, and equal to almost 50,000 euros per person.
Markets declined in the Paris exchange after the announcement about the PM broke on Monday morning.
