France's Premier Sébastien Lecornu Resigns Following Less Than a Month in Power
The French Premier Sébastien Lecornu has handed in his resignation, shortly after his government team was unveiled.
The Elysée palace issued a statement after the Prime Minister met President Emmanuel Macron for an hour on the start of the week.
This shock move comes only 26 days after he was appointed prime minister following the downfall of the prior administration of François Bayrou.
Parties across the board in the French parliament had sharply condemned the composition of the new government, which was largely unchanged to the previous one, and vowed to reject it.
Pressure for New Vote and Political Instability
Several parties are now clamouring for a snap election, with others urging the President to step down as well - despite the fact that he has repeatedly stated he will not stand down before his term ends in five years from now.
"The President needs to decide: calling new elections or resignation," said Sébastien Chenu, one of prominent members of the RN party.
The outgoing PM - the ex-defense chief and a supporter of Macron - was the fifth premier in under two years.
Context of Political Turmoil
The nation's governance has been markedly turbulent since last summer, when sudden national voting resulted in a no clear majority.
This has posed obstacles for each PM to secure enough backing to approve legislation.
The previous administration was rejected in autumn after parliament refused to back his austerity budget, which aimed to cut state costs by €44bn.
Economic Pressures and Stock Reaction
The nation's budget gap hit 5.8% of GDP in the current year and its government debt is 114 percent of GDP.
That is the third largest government debt in the euro area 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 emerged on Monday.
