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

France's Prime Minister Lecornu has handed in his resignation, shortly after his cabinet was announced.

The Elysée palace made the announcement after the Prime Minister met Macron for an 60-minute discussion on Monday morning.

This unexpected development comes only 26 days after Lecornu was given the PM role following the downfall of the previous government of his predecessor.

Parties across the board in the French parliament had strongly opposed the composition of his ministerial team, which was mostly similar to Bayrou's, and promised to block its approval.

Demands for Snap Polls and Government Instability

Multiple political groups are now calling for new parliamentary polls, with some urging the President to resign too - although he has consistently affirmed he will not leave before his mandate concludes in five years from now.

"The President needs to decide: calling new elections or resignation," said Sébastien Chenu, one of key representatives of the RN party.

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

Background of Political Turmoil

France's political landscape has been highly unstable since July 2024, when early legislative polls resulted in a deadlocked assembly.

This has created challenges for every premier to obtain required votes to enact new laws.

The previous administration was defeated in September after lawmakers refused to back his fiscal tightening package, which aimed to reduce public expenditure by $51 billion.

Financial Challenges and Market Reaction

France's deficit stood at 5.8 percent of economic output in 2024 and its government debt is more than the total economic output.

That is the number three debt level in the euro area after Greece and Italy, and equivalent to almost €50,000 per French citizen.

Share prices dropped in the Paris exchange after the announcement about the PM broke on the start of the week.