The French PM Lecornu Tenders Resignation Following Less Than a 30-Day Period in Power

France's Prime Minister Sébastien Lecornu has stepped down, shortly after his government team was announced.

The French presidency issued a statement after Lecornu met Macron for an meeting on Monday morning.

This unexpected development comes only 26 days after he was appointed prime minister following the dissolution of the prior administration of his predecessor.

Various groups in the French parliament had sharply condemned the structure of his ministerial team, which was largely unchanged to the previous one, and threatened to vote it down.

Calls for Snap Polls and Political Instability

Multiple political groups are now calling for a snap election, with others calling for Macron to resign too - although he has always said he will not stand down before his mandate concludes in 2027.

"Macron needs to choose: parliament's dissolution or stepping down," said Chenu, one of key representatives of the far right National Rally (RN).

The outgoing PM - the ex-defense chief and a supporter of Macron - was the fifth French PM in less than 24 months.

Context of Political Crisis

The nation's governance has been highly unstable since July 2024, when early legislative polls resulted in a no clear majority.

This has made it difficult for each PM to obtain required votes to enact new laws.

The former cabinet was rejected in autumn after the assembly declined to support his austerity budget, which aimed to cut state costs by €44bn.

Financial Challenges and Market Response

France's deficit stood at nearly 6% of the economy in the current year and its national debt is more than the total economic output.

That is the third highest public debt in the euro area after Greece and Italy, and equivalent to almost 50k euros for each resident.

Share prices dropped in the Paris bourse after the announcement about the PM emerged on Monday morning.