The French PM Lecornu Steps Down Following Under a Month in Office

France's Prime Minister Lecornu has handed in his resignation, shortly after his government team was unveiled.

The Elysée palace made the announcement after the Prime Minister met the French President for an hour on the start of the week.

This shock move comes only under four weeks after he was named premier following the dissolution of the prior administration of François Bayrou.

Parties across the board in the legislature had sharply condemned the composition of his ministerial team, which was very close to Bayrou's, and promised to block its approval.

Calls for Early Elections and Political Unrest

A number of factions are now calling for new parliamentary polls, with certain voices urging the President to step down as well - even though he has consistently affirmed he will not stand down before his mandate concludes in 2027.

"Macron needs to pick: dissolution of parliament or resignation," said Chenu, one of key representatives of the National Rally.

Lecornu - the former armed forces minister and a Macron loyalist - was France's fifth prime minister in under two years.

Background of Government Turmoil

French politics has been markedly turbulent since July 2024, when snap parliamentary elections resulted in a deadlocked assembly.

This has made it difficult for each PM to garner the necessary support to approve legislation.

The former cabinet was rejected in September after the assembly declined to support his austerity budget, which aimed to reduce public expenditure by $51 billion.

Economic Challenges and Stock Response

The nation's budget gap hit 5.8 percent of economic output in 2024 and its government debt is 114 percent of GDP.

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

Share prices dropped in the French stock market after the resignation report broke on Monday morning.