French Prime Minister Sébastien Lecornu Steps Down Following Under a 30-Day Period in Power

The nation's PM Lecornu has stepped down, less than a day after his cabinet was presented.

The Elysée palace made the announcement after Lecornu met Macron for an meeting on Monday morning.

This surprising decision comes only 26 days after Lecornu was named premier following the downfall of the previous government of François Bayrou.

Various groups in the National Assembly had sharply condemned the makeup of Lecornu's cabinet, which was very close to Bayrou's, and vowed to reject it.

Pressure for Snap Polls and Political Unrest

Several parties are now clamouring for early elections, with others demanding the President to step down as well - despite the fact that he has always said he will not leave before his time in office finishes in five years from now.

"The President needs to decide: dissolution of parliament or leaving office," said Sébastien Chenu, one of key representatives of the National Rally.

Lecornu - the previous military head and a supporter of Macron - was the fifth premier in less than 24 months.

Context of Political Crisis

The nation's governance has been markedly turbulent since mid-2024, when sudden national voting resulted in a no clear majority.

This has created challenges for each PM to secure enough backing to enact new laws.

The previous administration was rejected in September after the assembly voted against his austerity budget, which aimed to slash government spending by €44bn.

Economic Challenges and Market Response

The French shortfall stood at 5.8 percent of economic output in 2024 and its public debt is 114% of GDP.

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

Stocks fell sharply in the French stock market after the news of Lecornu's resignation was released on Monday.