The French PM Lecornu Resigns Following Under a Month in Power
The French Premier Lecornu has resigned, less than a day after his government team was announced.
The Elysée palace made the announcement after the Prime Minister met Macron for an meeting on Monday morning.
This shock move comes only less than a month after he was appointed prime minister following the collapse of the previous government of François Bayrou.
Political factions in the French parliament had strongly opposed the makeup of the new government, which was very close to the previous one, and threatened to vote it down.
Calls for Early Elections and Political Instability
Multiple political groups are now clamouring for new parliamentary polls, with others demanding Macron to step down as well - despite the fact that he has always said he will not resign before his time in office finishes in the year 2027.
"Macron needs to decide: parliament's dissolution or leaving office," said Sébastien Chenu, one of leading figures of the far right National Rally (RN).
The outgoing PM - the previous military head and a Macron loyalist - was France's fifth prime minister in less than 24 months.
Context of Government Turmoil
France's political landscape has been very volatile since last summer, when sudden national voting resulted in a deadlocked assembly.
This has made it difficult for any prime minister to garner the necessary support to enact new laws.
The previous administration was voted down in autumn after the assembly voted against his fiscal tightening package, which aimed to cut state costs by €44bn.
Financial Pressures and Market Response
France's deficit reached 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 euro area after Greece and Italy, and equivalent to almost 50,000 euros per person.
Markets declined in the French stock market after the announcement about the PM emerged on the start of the week.
