The French PM Lecornu Resigns Following Less Than a Month in Office
The nation's PM Sébastien Lecornu has stepped down, less than a day after his government team was presented.
The French presidency made the announcement after the Prime Minister met the French President for an meeting on the start of the week.
This surprising decision comes only less than a month after he was appointed prime minister following the dissolution of the prior administration of François Bayrou.
Various groups in the National Assembly had sharply condemned the composition of the new government, which was very close to the previous one, and promised to block its approval.
Demands for New Vote and Political Unrest
A number of factions are now demanding a snap election, with certain voices demanding the President to also leave office - despite the fact that he has repeatedly stated he will not stand down before his time in office finishes in five years from now.
"The President needs to pick: parliament's dissolution or stepping down," said Chenu, one of leading figures of the far right National Rally (RN).
Lecornu - the former armed forces minister and a Macron loyalist - was the fifth premier in less than 24 months.
Context of Political Crisis
France's political landscape has been markedly turbulent since last summer, when sudden national voting resulted in a hung parliament.
This has posed obstacles for any prime minister to obtain required votes to pass any bills.
The former cabinet was voted down in autumn after lawmakers voted against his fiscal tightening package, which aimed to cut state costs by $51 billion.
Financial Pressures and Market Reaction
The nation's budget gap stood at 5.8% of GDP in the current year and its government debt is more than the total economic output.
That is the number three debt level in the eurozone after Italy and Greece, and equivalent to almost 50,000 euros per person.
Stocks fell sharply in the French stock market after the resignation report broke on the start of the week.
