The French PM Sébastien Lecornu Steps Down Following Less Than a Month in Office
France's Prime Minister Sébastien Lecornu has resigned, shortly after his cabinet was unveiled.
The presidential office confirmed the news after the Prime Minister met Macron for an hour on Monday morning.
This shock move comes only less than a month after he was appointed prime minister following the dissolution of the previous government of his predecessor.
Various groups in the French parliament had fiercely criticised the structure of Lecornu's cabinet, which was largely unchanged to the previous one, and vowed to reject it.
Pressure for Snap Polls and Government Instability
Multiple political groups are now clamouring for new parliamentary polls, with some urging the President to step down as well - despite the fact that he has always said he will not resign before his term ends in 2027.
"The President needs to pick: calling new elections or stepping down," said Sébastien Chenu, one of prominent members of the far right National Rally (RN).
The outgoing PM - the previous military head and a ally of the President - was France's fifth prime minister in a two-year span.
Context of Political Crisis
The nation's governance has been markedly turbulent since last summer, when early legislative polls resulted in a hung parliament.
This has posed obstacles for any prime minister to secure enough backing to approve legislation.
The former cabinet was defeated in last month after the assembly declined to support his fiscal tightening package, which aimed to cut state costs by $51 billion.
Economic Pressures and Market Reaction
The French shortfall stood at 5.8 percent of economic output in the current year and its public debt is more than the total economic output.
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 news of Lecornu's resignation emerged on Monday.
