France's Premier Lecornu Resigns Following Under a 30-Day Period in Office
The French Premier Sébastien Lecornu has handed in his resignation, shortly after his government team was unveiled.
The French presidency confirmed the news after Lecornu met Macron for an meeting on the start of the week.
This shock move comes only 26 days after Lecornu was named premier following the downfall of the previous government of his predecessor.
Parties across the board in the French parliament had strongly opposed the structure of his ministerial team, which was mostly similar to Bayrou's, and vowed to reject it.
Calls for New Vote and Government Unrest
Multiple political groups are now demanding a snap election, with some demanding Macron to resign too - although he has always said he will not resign before his mandate concludes in five years from now.
"The President needs to decide: calling new elections or stepping down," said Sébastien Chenu, one of key representatives of the National Rally.
Lecornu - the former armed forces minister and a Macron loyalist - was the fifth premier in a two-year span.
Background of Government Turmoil
France's political landscape has been markedly turbulent since last summer, when sudden national voting resulted in a no clear majority.
This has posed obstacles for every premier to garner the necessary support to enact new laws.
The previous administration was rejected in last month after the assembly refused to back his austerity budget, which aimed to reduce public expenditure by $51 billion.
Financial Pressures and Market Reaction
The French shortfall stood at 5.8 percent of economic output in the current year and its national debt is 114% of GDP.
That is the number three debt level in the euro area after two southern European nations, and equivalent to almost 50,000 euros per person.
Share prices dropped in the Paris bourse after the news of Lecornu's resignation was released on Monday.
