French Prime Minister Sébastien Lecornu Resigns Following Less Than a Month in Power

The French Premier Lecornu has stepped down, less than a day after his government team was presented.

The presidential office issued a statement after Lecornu met Macron for an hour on Monday morning.

This surprising decision comes only 26 days after he was given the PM role following the dissolution of the previous government of François Bayrou.

Parties across the board in the National Assembly had sharply condemned the composition of his ministerial team, which was very close to Bayrou's, and vowed to reject it.

Demands for New Vote and Political Instability

Multiple political groups are now clamouring for a snap election, with certain voices urging Macron to resign too - even though he has repeatedly stated he will not leave before his time in office finishes in 2027.

"The President needs to choose: parliament's dissolution or stepping down," said Chenu, one of key representatives of the far right National Rally (RN).

The outgoing PM - the ex-defense chief and a ally of the President - was the fifth premier in under two years.

Background of Political Turmoil

French politics has been highly unstable since mid-2024, when snap parliamentary elections resulted in a deadlocked assembly.

This has made it difficult for each PM to garner the necessary support to pass any bills.

Bayrou's government was voted down in autumn after parliament voted against his spending cuts plan, which aimed to cut state costs by $51 billion.

Economic Challenges and Market Response

The nation's budget gap stood at 5.8% of GDP in the current year and its government debt is 114 percent of GDP.

That is the number three debt level in the euro area after Italy and Greece, and equivalent to almost €50,000 per French citizen.

Stocks fell sharply in the Paris exchange after the announcement about the PM emerged on the start of the week.