The French PM Lecornu Steps Down Following Under a 30-Day Period in Power
The French Premier Sébastien Lecornu has stepped down, shortly after his ministers was unveiled.
The French presidency issued a statement after Lecornu met President Emmanuel Macron for an meeting on Monday morning.
This unexpected development comes only under four weeks after Lecornu was appointed prime minister following the dissolution of the previous government of François Bayrou.
Political factions in the legislature had fiercely criticised the composition of the new government, which was largely unchanged to the previous one, and vowed to reject it.
Calls for Snap Polls and Government Unrest
A number of factions are now demanding new parliamentary polls, with others urging Macron to also leave office - even though he has repeatedly stated he will not resign before his term ends in five years from now.
"Macron needs to choose: calling new elections or leaving office," said Sébastien Chenu, one of leading figures of the National Rally.
The outgoing PM - the ex-defense chief and a supporter of Macron - was the fifth premier in a two-year span.
Context of Political Crisis
The nation's governance has been highly unstable since last summer, when sudden national voting resulted in a no clear majority.
This has created challenges for each PM to garner the necessary support to pass any bills.
The previous administration was voted down in September after lawmakers refused to back his spending cuts plan, which aimed to cut state costs by 44 billion euros.
Economic Challenges and Market Reaction
France's deficit hit 5.8% of GDP in 2024 and its government debt is 114% of GDP.
That is the third largest government debt in the European monetary union after Greece and Italy, and equivalent to almost €50,000 per French citizen.
Stocks fell sharply in the Paris exchange after the announcement about the PM emerged on Monday morning.
