French Prime Minister Sébastien Lecornu Steps Down Following Under a Month in the Role
The nation's PM Sébastien Lecornu has stepped down, less than a day after his cabinet was unveiled.
The Elysée palace made the announcement after Lecornu met the French President for an 60-minute discussion on the start of the week.
This unexpected development comes only under four weeks after he was named premier following the downfall of the prior administration of his predecessor.
Various groups in the National Assembly had sharply condemned the composition of Lecornu's cabinet, which was very close to the previous one, and threatened to vote it down.
Pressure for Early Elections and Government Instability
Multiple political groups are now demanding a snap election, with certain voices urging the President to also leave office - although he has consistently affirmed he will not resign before his time in office finishes in the year 2027.
"The President needs to choose: dissolution of parliament or resignation," said Chenu, one of key representatives of the National Rally.
The outgoing PM - the ex-defense chief and a ally of the President - was France's fifth prime minister in under two years.
Context of Government Turmoil
French politics has been highly unstable since last summer, when snap parliamentary elections resulted in a hung parliament.
This has made it difficult for every premier to obtain required votes to enact new laws.
The previous administration was rejected in last month after the assembly refused to back his fiscal tightening package, which aimed to reduce public expenditure by $51 billion.
Economic Pressures and Stock Reaction
France's deficit hit nearly 6% of the economy in the current year and its public debt is 114% of GDP.
That is the number three debt level in the European monetary union after Greece and Italy, and amounting to almost 50,000 euros per person.
Markets declined in the Paris bourse after the news of Lecornu's resignation was released on Monday.
