The French PM Sébastien Lecornu Steps Down After Less Than a 30-Day Period in the Role

The French Premier Lecornu has handed in his resignation, under 24 hours after his ministers was presented.

The presidential office confirmed the news after the Prime Minister met President Emmanuel Macron for an hour on the start of the week.

This shock move comes only under four weeks after he was given the PM role following the collapse of the prior administration of his predecessor.

Various groups in the legislature had strongly opposed the composition of Lecornu's cabinet, which was largely unchanged to the previous one, and vowed to reject it.

Demands for Snap Polls and Political Instability

Several parties are now demanding new parliamentary polls, with others calling for the President to step down as well - even though he has repeatedly stated he will not resign before his mandate concludes in five years from now.

"Macron needs to pick: parliament's dissolution or stepping down," said Sébastien Chenu, one of leading figures of the National Rally.

Lecornu - the ex-defense chief and a ally of the President - was the fifth premier in under two years.

Background of Political Turmoil

France's political landscape has been markedly turbulent since July 2024, when early legislative polls resulted in a hung parliament.

This has created challenges for every premier to obtain required votes to pass any bills.

Bayrou's government was defeated in September after the assembly declined to support his fiscal tightening package, which aimed to cut state costs by $51 billion.

Economic Pressures and Market Reaction

France's deficit hit 5.8% of GDP in the current year and its government 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 per French citizen.

Share prices dropped in the Paris bourse after the announcement about the PM was released on the start of the week.