France's Premier Lecornu Steps Down After Under a Month in the Role

The French Premier Lecornu has stepped down, under 24 hours after his cabinet was unveiled.

The presidential office issued a statement after the Prime Minister met Macron for an hour on the start of the week.

This surprising decision comes only less than a month after Lecornu was named premier following the downfall of the previous government of François Bayrou.

Parties across the board in the National Assembly had strongly opposed the makeup of Lecornu's cabinet, which was mostly similar to the previous one, and promised to block its approval.

Demands for Snap Polls and Government Unrest

Several parties are now clamouring for early elections, with some calling for Macron to step down as well - despite the fact that he has always said he will not stand down before his term ends in five years from now.

"Macron needs to choose: dissolution of parliament or resignation," said Sébastien Chenu, one of leading figures of the far right National Rally (RN).

Lecornu - the previous military head and a supporter of Macron - was the fifth French PM in a two-year span.

Background of Government Crisis

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

This has posed obstacles for each PM to obtain required votes to approve legislation.

The previous administration was rejected in autumn after parliament declined to support his spending cuts plan, which aimed to slash government spending by 44 billion euros.

Economic Pressures and Market Response

France's deficit stood at nearly 6% of the economy in 2024 and its national debt is 114% of GDP.

That is the third highest public debt in the euro area after Greece and Italy, and equivalent to almost 50,000 euros per person.

Stocks fell sharply in the French stock market after the resignation report emerged on the start of the week.