France's Premier Lecornu Resigns Following Under a Month in Power
The French Premier Lecornu has stepped down, under 24 hours after his ministers 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 unexpected development comes only 26 days after Lecornu was appointed prime minister following the downfall of the prior administration of François Bayrou.
Political factions in the French parliament had strongly opposed the makeup of his ministerial team, which was mostly similar to Bayrou's, and threatened to vote it down.
Pressure for New Vote and Political Unrest
Several parties are now calling for early elections, with some urging Macron to step down as well - even though he has consistently affirmed he will not leave before his time in office finishes in the year 2027.
"The President needs to decide: calling new elections or stepping down," said Sébastien Chenu, one of leading figures of the RN party.
The outgoing PM - the ex-defense chief and a ally of the President - was the fifth French PM in a two-year span.
Background of Political Crisis
The nation's governance has been markedly turbulent since mid-2024, when early legislative polls resulted in a no clear majority.
This has posed obstacles for any prime minister to obtain required votes to enact new laws.
The former cabinet was rejected in September after parliament declined to support his spending cuts plan, which aimed to reduce public expenditure by $51 billion.
Economic Challenges and Market Response
The French shortfall reached nearly 6% of the economy in 2024 and its national debt is 114 percent of GDP.
That is the number three debt level in the European monetary union after two southern European nations, and amounting to almost 50,000 euros per person.
Share prices dropped in the Paris bourse after the announcement about the PM was released on Monday morning.
