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Le Crisis

French Prime Minister Lecornu resigns three weeks after appointment

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The news: French Prime Minister Sebastien Lecornu resigned on Monday morning in Paris (6:30pm AEST), just one day after President Emmanuel Macron’s office unveiled a new cabinet that was broadly criticised.

The context: The Élysée Palace announced Lecornu’s decision to tender his resignation on Monday, after rightwing allies indicated that they would withdraw from his government less than one day after the Prime Minister had named ministers for his prospective government. Lecornu had promised to deliver a change from previous Macron governments, but named several ministers from his predecessors cabinet as well as ministers from previous Macron administration.

After Sunday's cabinet announcements, the reappointed interior minister, Bruno Retailleau, who leads the centre-right Republicans, said via X: “The composition of the Government does not reflect the promised break. Faced with the political situation created by this announcement, I am convening the strategic committee of the Republicans tomorrow morning.”

Lecornu was appointed Prime Minister less than one month ago.

The move underscores a deepening political crisis which has seen Lecornu’s two predecessors, Francois Bayrou and Michel Barnier, struggle to pass a budget through a fractured parliament, that included unpopular spending cuts and tax increases to address the country’s large deficit.

“There can be no restored stability without a return to the polls and the dissolution of the National Assembly,” National Rally president Jordan Bardella told reporters after Lecornu’s resignation.

The numbers: French bonds fell on the news, with the yield on 10-year notes rose nine basis points to 3.6%. Markets also dropped, with the CAC 40 stock index down 0.8% in morning trading on Monday (7:00pm AEST).

The source: Élysée Palace


By Paige McNamee