France’s ongoing political crisis intensified Monday when newly appointed Prime Minister Sébastien Lecornu resigned just hours after finalizing his cabinet which likewise dissolved—marking the shortest-lived government in modern French history. The shocking move sent markets tumbling, with Paris’ CAC 40 dropping more than 1.5% and the euro sliding 0.7% to $1.1665.
Lecornu, President Emmanuel Macron’s fifth prime minister in just two years, stepped down after facing immediate threats from both allies and opponents who vowed to topple his administration. Explaining his decision, Lecornu cited the “egos” of opposition figures unwilling to compromise and urged unity, saying, “You should always prefer your country to your party.”
Opposition leaders from across the spectrum demanded Macron’s resignation or snap elections. “Macron must now choose: dissolution or resignation, and fast!” declared the right-wing National Rally (RN) party. Leader of RN, Marine Le Pen, called the situation a “farce,” while far-left leader Mathilde Panot said, “Lecornu resigns. Three prime ministers defeated in less than a year. The countdown has begun. Macron must go.”
The resignation highlights a worsening political crisis in France. Since Macron’s 2022 re-election, no party has held a parliamentary majority, leaving the president unable to govern effectively. As markets falter and France’s debt climbs to over 113.9% of GDP, even moderates warn the instability could spill over into Europe.
“It’s just one government after another… this is the major problem for French assets,” said Chris Beauchamp of IG Group.
