France's Premier Lecornu Steps Down After Less Than a Month in Office
France's Prime Minister Sébastien Lecornu has handed in his resignation, under 24 hours after his government team was presented.
The Elysée palace issued a statement after Lecornu 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 given the PM role following the collapse of the prior administration of his predecessor.
Political factions in the National Assembly had fiercely criticised the makeup of the new government, which was largely unchanged to the previous one, and promised to block its approval.
Pressure for New Vote and Government Instability
A number of factions are now calling for a snap election, with certain voices urging the President to also leave office - even though he has consistently affirmed he will not stand down before his mandate concludes in five years from now.
"The President needs to choose: parliament's dissolution or stepping down," said Sébastien Chenu, one of key representatives of the National Rally.
Lecornu - the ex-defense chief and a Macron loyalist - was the fifth French PM in a two-year span.
Background of Government Crisis
French politics has been markedly turbulent since last summer, when snap parliamentary elections resulted in a no clear majority.
This has made it difficult for any prime minister to secure enough backing to pass any bills.
The former cabinet was defeated in September after parliament voted against his fiscal tightening package, which aimed to reduce public expenditure by 44 billion euros.
Financial Pressures and Market Response
France's deficit reached 5.8% of GDP in the current year and its government debt is 114 percent of GDP.
That is the third highest public debt in the euro area after two southern European nations, and amounting to almost €50,000 per French citizen.
Stocks fell sharply in the French stock market after the resignation report emerged on the start of the week.