France's Premier Lecornu Resigns Following Less Than a Month in Office
France's Prime Minister Lecornu has resigned, shortly after his cabinet was unveiled.
The presidential office made the announcement after the Prime Minister met the French President for an hour on Monday morning.
This unexpected development comes only under four weeks after Lecornu was named premier following the downfall of the prior administration of his predecessor.
Various groups in the National Assembly had sharply condemned the composition of the new government, which was mostly similar to Bayrou's, and vowed to reject it.
Calls for New Vote and Political Instability
Several parties are now demanding early elections, with certain voices urging the President to step down as well - despite the fact that he has always said he will not resign before his term ends in the year 2027.
"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 former armed forces minister and a Macron loyalist - was the fifth premier in a two-year span.
Background of Government Crisis
The nation's governance has been highly unstable since July 2024, when early legislative polls resulted in a deadlocked assembly.
This has made it difficult for any prime minister to garner the necessary support to enact new laws.
Bayrou's government was defeated in last month after lawmakers voted against his austerity budget, which aimed to slash government spending by 44 billion euros.
Economic Pressures and Market Response
France's deficit hit 5.8 percent of economic output in 2024 and its national debt is 114 percent of GDP.
That is the number three debt level in the euro area after Italy and Greece, and equal to almost €50,000 per French citizen.
Markets declined in the Paris exchange after the announcement about the PM was released on the start of the week.
