French Prime Minister Sebastien Lecornu has resigned after just one month in office. Lecornu tendered his resignation following his failure to present a budget and navigate political gridlock. The Paris Stock Exchange experienced a 1.7 percent decline upon Lecornu’s resignation.
Lecornu’s resignation came merely hours after the cabinet was formed. Opposition parties had also filed a no-confidence motion against Lecornu in parliament, which he was unable to withstand.
Reportedly, a cabinet meeting was scheduled after the cabinet’s formation, but Lecornu resigned before the meeting commenced. He reportedly anticipated that he would not receive acceptance in parliament. To avoid embarrassment, he decided to resign.
Approximately one month ago, Macron appointed Lecornu as Prime Minister, but opposition parties began to protest his appointment. There were two primary reasons for the opposition to Lecornu.
1. In the 2024 general elections, no single party secured a majority. However, President Macron appointed his close associates to the Prime Minister’s position. In this context, France Bayrou was given the PM’s chair. At that time, Macron was accused of violating the constitution for his close associates. However, Bayrou did not remain in office for long. Lecornu was assigned the PM’s chair. Lecornu also failed to gain the confidence of the House.
2. France’s economic situation is quite poor. The government’s debt is constantly increasing. People are continuously protesting to end it. The government proposed budget cuts, which the people strongly opposed. Passing this budget from the House is not easy. Bayrou could not pass it. Now Lecornu has gone on the backfoot regarding this.
