Paris, Oct 6: France’s new Prime Minister Sebastien Lecornu resigned on Monday, just 14 hours after forming his cabinet, in an unexpected move that further destabilized the nation’s politics and rattled financial markets. The Elysee Palace confirmed the resignation, saying, “Mr. Sebastien Lecornu has submitted the resignation of his Government to the President of the Republic, who has accepted it.”
The rapid departure of Lecornu, a close ally of President Emmanuel Macron, follows widespread criticism from both opponents and supporters who deemed the cabinet either too right-wing or insufficiently so. Lecornu had only finalized the new government on Sunday after weeks of consultations with political parties across the spectrum, and ministers were scheduled to hold their first meeting on Monday afternoon.
The resignation can uptick France’s ongoing political turmoil, exacerbated by a fragmented parliament that lacks a clear majority. Since Macron’s re-election in 2022, no single party or coalition has been able to consolidate power, leaving the country in a state of chronic instability. Macron’s decision last year to call a snap parliamentary election further deepened the crisis, producing an even more divided legislative body.
Lecornu’s exit marks Macron’s fifth prime minister in two years, reflecting the persistent challenges of governing without parliamentary cohesion.
Immediately after the resignation, far-right National Rally leader Jordan Bardella called for new elections, stating, “There can be no return to stability without a return to the polls and the dissolution of the National Assembly.”
The political shock triggered sharp reactions in financial markets. Paris’ CAC 40 index fell 1.5%, emerging as Europe’s worst-performing stock index on Monday, while shares of major banks including BNP Paribas, Societe Generale, and Credit Agricole dropped between 4% and 5%. The euro also declined 0.7%, trading at $1.1665.
Bardella’s call for snap elections puts pressure on Macron to act quickly amid growing political and economic uncertainty.
Analysts warn that without swift resolutions, France could face prolonged instability, complicating both domestic governance and its position in European markets.
