The French PM Lecornu Steps Down After Under a Month in Power
The nation's PM Lecornu has resigned, less than a day after his ministers was unveiled.
The Elysée palace confirmed the news after the Prime Minister met Macron for an hour on the start of the week.
This unexpected development comes only 26 days after he was given the PM role following the collapse of the previous government of his predecessor.
Political factions in the National Assembly had sharply condemned the makeup of Lecornu's cabinet, which was very close to Bayrou's, and promised to block its approval.
Pressure for New Vote and Government Unrest
A number of factions are now clamouring for a snap election, with certain voices urging Macron to step down as well - despite the fact that he has always said he will not stand down before his term ends in 2027.
"The President needs to pick: dissolution of parliament or stepping down," said Sébastien Chenu, one of prominent members of the National Rally.
The outgoing PM - the former armed forces minister and a supporter of Macron - was France's fifth prime minister in under two years.
Context of Government Turmoil
France's political landscape has been highly unstable since last summer, when sudden national voting resulted in a no clear majority.
This has made it difficult for every premier to obtain required votes to approve legislation.
Bayrou's government was voted down in September after lawmakers declined to support his fiscal tightening package, which aimed to reduce public expenditure by $51 billion.
Economic Pressures and Stock Response
The French shortfall reached 5.8 percent of economic output in the current year and its government debt is more than the total economic output.
That is the third largest government debt in the euro area after Greece and Italy, and equal to almost €50,000 per French citizen.
Share prices dropped in the Paris exchange after the resignation report broke on the start of the week.
