France's Premier Sébastien Lecornu Resigns After Under a 30-Day Period in Power
The nation's PM Lecornu has resigned, less than a day after his ministers was announced.
The French presidency made the announcement after Lecornu met the French President for an meeting on the start of the week.
This shock move comes only less than a month after he was appointed prime minister following the dissolution of the prior administration of his predecessor.
Political factions in the French parliament had strongly opposed the composition of his ministerial team, which was largely unchanged to Bayrou's, and threatened to vote it down.
Calls for New Vote and Political Unrest
A number of factions are now calling for new parliamentary polls, with others calling for Macron to also leave office - despite the fact that he has consistently affirmed he will not leave before his time in office finishes in 2027.
"Macron needs to pick: calling new elections or resignation," said Sébastien Chenu, one of prominent members of the far right National Rally (RN).
Lecornu - the former armed forces minister and a supporter of Macron - was the fifth premier in a two-year span.
Context of Political Crisis
The nation's governance has been markedly turbulent since last summer, when snap parliamentary elections resulted in a deadlocked assembly.
This has posed obstacles for any prime minister to secure enough backing to pass any bills.
Bayrou's government was voted down in last month after lawmakers declined to support his austerity budget, which aimed to slash government spending by €44bn.
Financial Pressures and Market Reaction
The French shortfall reached 5.8% of GDP in the current year and its national 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 per French citizen.
Markets declined in the Paris bourse after the news of Lecornu's resignation emerged on Monday morning.
