French Prime Minister Lecornu Tenders Resignation Following Less Than a Month in Power
The French Premier Lecornu has resigned, less than a day after his cabinet was announced.
The Elysée palace issued a statement after Lecornu met Macron for an hour on Monday morning.
This surprising decision comes only less than a month after Lecornu was named premier following the downfall of the previous government of François Bayrou.
Various groups in the National Assembly had strongly opposed the structure of Lecornu's cabinet, which was mostly similar to the previous one, and vowed to reject it.
Pressure for Early Elections and Government Instability
Multiple political groups are now calling for a snap election, with some demanding Macron to also leave office - despite the fact that he has consistently affirmed he will not stand down before his mandate concludes in five years from now.
"Macron needs to pick: parliament's dissolution or resignation," said Sébastien Chenu, one of leading figures of the National Rally.
Lecornu - the former armed forces minister and a supporter of Macron - was the fifth premier in less than 24 months.
Background of Government Turmoil
The nation's governance has been very volatile since July 2024, when snap parliamentary elections resulted in a no clear majority.
This has made it difficult for every premier to garner the necessary support to pass any bills.
Bayrou's government was defeated in last month after parliament refused to back his austerity budget, which aimed to slash government spending by €44bn.
Financial Pressures and Stock Reaction
France's deficit hit nearly 6% of the economy in 2024 and its government debt is 114 percent of GDP.
That is the third largest government debt in the eurozone after Italy and Greece, and amounting to almost 50k euros for each resident.
Stocks fell sharply in the French stock market after the news of Lecornu's resignation broke on the start of the week.
