France's Premier Sébastien Lecornu Resigns After Less Than a 30-Day Period in Office
The nation's PM Sébastien Lecornu has stepped down, under 24 hours after his government team was unveiled.
The presidential office issued a statement after the Prime Minister met the French President for an 60-minute discussion on Monday morning.
This shock move comes only 26 days after he was given the PM role following the collapse of the previous government of François Bayrou.
Political factions in the legislature had sharply condemned the composition of his ministerial team, which was largely unchanged to the previous one, and vowed to reject it.
Demands for Snap Polls and Government Instability
A number of factions are now calling for a snap election, with others demanding Macron to step down as well - despite the fact that he has always said he will not stand down before his time in office finishes in 2027.
"The President needs to choose: calling new elections or leaving office," 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 less than 24 months.
Background of Government Turmoil
France's political landscape has been very volatile since last summer, when snap parliamentary elections resulted in a deadlocked assembly.
This has created challenges for every premier to obtain required votes to pass any bills.
The previous administration was defeated in last month after the assembly declined to support his fiscal tightening package, which aimed to reduce public expenditure by $51 billion.
Financial Challenges and Stock Reaction
The French shortfall reached 5.8% of GDP in the current year and its government debt is more than the total economic output.
That is the third largest government debt in the eurozone after two southern European nations, and equal to almost €50,000 per French citizen.
Stocks fell sharply in the Paris bourse after the announcement about the PM broke on Monday morning.
