France's Premier Lecornu Tenders Resignation After Under a 30-Day Period in Power
The nation's PM Lecornu has handed in his resignation, under 24 hours after his government team was presented.
The presidential office issued a statement after Lecornu met the French President for an meeting on the start of the week.
This unexpected development comes only less than a month after he was appointed prime minister following the downfall of the previous government of François Bayrou.
Political factions in the legislature had fiercely criticised the composition of Lecornu's cabinet, which was largely unchanged to Bayrou's, and promised to block its approval.
Calls for New Vote and Political Unrest
A number of factions are now calling for new parliamentary polls, with certain voices demanding Macron to also leave office - although he has always said he will not resign before his time in office finishes in 2027.
"Macron needs to decide: calling new elections or stepping down," said Sébastien Chenu, one of leading figures of the RN party.
The outgoing PM - the former armed forces minister and a ally of the President - was the fifth French PM in under two years.
Context of Political Turmoil
French politics has been highly unstable since July 2024, when snap parliamentary elections resulted in a no clear majority.
This has created challenges for any prime minister to secure enough backing to approve legislation.
Bayrou's government was defeated in autumn after the assembly voted against his austerity budget, which aimed to slash government spending by $51 billion.
Financial Challenges and Stock Response
France's deficit hit 5.8% of GDP in the current year and its national debt is 114 percent of GDP.
That is the third highest public debt in the European monetary union after Greece and Italy, and equivalent 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 Monday.
