French Prime Minister Sebastien Lecorn resigned on Monday, October 6, barely the day after the new cabinet was unveiled, plunged the country into fresh political unrest and sent shocks through financial markets. The reports reported BFM TV with quoting unidentified government officials.
Macron’s rivals immediately tried to earn a shocking resignation, and the far right National Assembly called on him to either call on a new snap election or resign. She also asked Macron’s departure from the completely left part of France Unbowed.
Why did Lecornu resigned so quickly?
The office of President Emmanuel Macron revealed a new cabinet on Sunday, October 5, while Lecorn was entrusted with a difficult mission to ensure support for budget 2026 in a deeply divided parliament.
However, the mostly unchanged ministerial line -up faced immediate criticism across the political spectrum. “I desperate from this circus,” said Agnès Pannier-Runacher, a re-appointed Minister for Ecology, refusing frustration in government ranks.
Critics, in particular, questioned Lecorn’s decision to bring back former Minister of Finance Bruno Le Maire to serve as Minister of Defense, and quotes concerns about his previous record when the French public deficit increased.
Other key ministers, including Bruno Retailleau (interior), Jean-Noël Barrot (Foreign Affairs) and Gérald Darmanin (Justice), remained largely unchanged.
What is the impact on the French policy and the stock market?
The resignation of the French Prime Minister will be the political instability, which has persisted since last year’s Snap election of President Macron, resulting in a fragmented legislature.
Far-right and left-wing legislators now hold over 320 seats in the National Assembly, while centrists and allied conservatives hold 210.
Lecorn has committed to avoiding the use of special constitutional authority to enforce budgets via parliament without voting, instead promises to deal with legislators throughout the political spectrum. Its sudden departure increases the uncertainty about whether a consensus for the upcoming budget of austerity measures can be achieved.
The Paris stock market responded sharply to Lecorn’s resignation. The CAC-40 Index of the leading French companies fell by almost 2% by 0800 GMT, which reflected the anxiety of investors over political instability.
“Resignation rattled investors and sent the CAC-40 index,” says the note, emphasizing concerns about France’s economic direction.
Who was the key characters in the short -term cabinet?
- Bruno Le Maire – former Minister of Finance, appointed Minister of Defense
- Roland Lescure – an economy port
- Bruno Retailleau – Minister of the Interior
- Jean -normel Barros – Foreign Minister
- Gérald Darmanin – Minister of Justice
Lecorn’s cabinet included a total of 18 names, with other meetings. However, many ministers have become ministers of the administrator and manage everyday matters without being formally installed.
(Tagstotranslate) French Prime Minister
