The French PM Lecornu Tenders Resignation After Less Than a 30-Day Period in Power
The French Premier Sébastien Lecornu has stepped down, less than a day after his ministers was unveiled.
The Elysée palace issued a statement after the Prime Minister met President Emmanuel Macron for an hour on the start of the week.
This unexpected development comes only 26 days after Lecornu was given the PM role following the collapse of the prior administration of François Bayrou.
Various groups in the legislature 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 Political Instability
Several parties are now clamouring for a snap election, with certain voices demanding Macron to step down as well - despite the fact that he has repeatedly stated he will not stand down before his term ends in 2027.
"The President needs to pick: dissolution of parliament or stepping down," said Chenu, one of prominent members of the National Rally.
The outgoing PM - the ex-defense chief and a Macron loyalist - was France's fifth prime minister in under two years.
Context of Government Turmoil
France's political landscape has been highly unstable since last summer, when snap parliamentary elections resulted in a no clear majority.
This has created challenges for every premier to secure enough backing to enact new laws.
The former cabinet was rejected in autumn after parliament voted against his austerity budget, which aimed to cut state costs by €44bn.
Economic Pressures and Stock Reaction
The nation's budget gap hit 5.8% of GDP in the current year and its national debt is more than the total economic output.
That is the third highest public debt in the European monetary union after two southern European nations, and equivalent to almost €50,000 per French citizen.
Markets declined in the French stock market after the news of Lecornu's resignation broke on Monday morning.
