France's Premier Lecornu Steps Down Following Under a 30-Day Period in the Role
France's Prime Minister Lecornu has handed in his resignation, shortly after his cabinet was unveiled.
The presidential office made the announcement after the Prime Minister met the French President for an 60-minute discussion on Monday morning.
This unexpected development comes only 26 days after he was given the PM role following the dissolution of the previous government of François Bayrou.
Parties across the board in the legislature had strongly opposed the makeup of Lecornu's cabinet, which was very close to the previous one, and threatened to vote it down.
Pressure for Snap Polls and Government Instability
Several parties are now demanding new parliamentary polls, with some calling for Macron to step down as well - although he has repeatedly stated he will not resign before his mandate concludes in five years from now.
"The President needs to decide: dissolution of parliament or stepping down," said Sébastien Chenu, one of prominent members of the RN party.
Lecornu - the ex-defense chief and a ally of the President - was France's fifth prime minister in a two-year span.
Context of Government Turmoil
France's political landscape has been very volatile since last summer, when early legislative polls resulted in a deadlocked assembly.
This has posed obstacles for any prime minister to secure enough backing to enact new laws.
Bayrou's government was defeated in September after lawmakers declined to support his spending cuts plan, which aimed to cut state costs by $51 billion.
Economic Challenges and Stock Response
The French shortfall hit 5.8 percent of economic output in the current year and its public debt is 114 percent of GDP.
That is the number three debt level in the euro area after Italy and Greece, and amounting to almost 50,000 euros per person.
Markets declined in the Paris bourse after the resignation report was released on Monday.
