Sebastien Lecornu has stepped down after 27 days, making his tenure the shortest in French history

French Prime Minister Sebastien Lecornu has announced his resignation less than 12 hours after appointing a new cabinet. The French parliament is deeply divided over efforts to pass a new budget that would tackle rising debt.

A former defense minister, Lecornu was the seventh prime minister appointed by French President Emmanuel Macron and the fifth in two years. His sudden resignation less than a month after entering the role makes him the shortest-lived prime minister in modern French history.

A long-time Macron loyalist, Lecornu faced fierce criticism from both sides of the political aisle on Sunday after unveiling his new cabinet which was largely unchanged from the previous government of Francois Bayrou. Parties across the National Assembly threatened to vote it down.

Following the announcement, several political parties have called for snap parliamentary elections. The National Rally party stated on X that "Macronism is dead on its feet," and called on Macron to choose between the dissolution of the National Assembly or resignation.

Jean-Luc Melenchon, the leader of the left-wing La France Insoumise (LFI) party, has also called to introduce a motion to remove Macron from office.

Shortly after the news of Lecornu's resignation broke, the Paris stock market dropped 12%, making it the worst-performing index in Europe. The euro has also seen a drop of 0.7% on the back of political instability.

France's public finances have been under mounting strain, with the deficit reaching 5.8% of GDP in 2024 and public debt climbing to 113%, far above the 60% ceiling set by EU rules. The government has been seeking to push through an austerity budget aimed at curbing spending and stabilizing the debt ratio, but divisions in the National Assembly have made agreement difficult.

The political deadlock stems from last year's snap parliamentary elections, which left France without a clear majority. The lower house is now split between three blocs - Macron's centrist alliance, the left-wing New Popular Front, and the National Rally - none of which can govern alone. As a result, Macron's governments have repeatedly struggled to secure votes on key legislation.

(RT.com)