PARIS – France’s government collapsed into chaos Monday as Prime Minister Sébastien Lecornu resigned less than 24 hours after naming his cabinet and after less than a month in office, plunging the country into a profound political crisis and sending shockwaves through financial markets.
The French presidency confirmed in a statement that President Emmanuel Macron had accepted the resignation. Lecornu, a loyal ally of Macron, was the fourth person to hold the prime minister’s post in just over a year, replacing his short-lived predecessor François Bayrou. His stunningly rapid departure marks a new low for Macron’s authority and his ability to govern effectively.
In a somber resignation speech from the Hotel Matignon, the prime minister’s official residence, Lecornu admitted he had failed to build the necessary consensus to govern. “It would take little for it to work,” he stated. “By being more selfless for many, by knowing how to show humility. One must always put one’s country before one’s party.”
Immediate Fallout and Demands for Dissolution
Political opponents immediately seized on the turmoil to call for Macron’s ouster. Far-right leader Marine Le Pen of the National Rally party argued the president was out of options.
“This raises a question for the President of the Republic: can he continue to resist the legislature dissolution? We have reached the end of the road,” Le Pen said. “The only wise course of action in these circumstances is to return to the polls.”
The sentiment was echoed on the far-left, where the France Unbowed party also demanded Macron’s departure. The chaotic situation left newly appointed ministers in an unprecedented limbo; some became “caretaker” ministers before they were even formally installed. The frustration was palpable, with Agnès Pannier-Runacher, who had been reappointed as ecology minister just the night before, posting on X, “I despair of this circus.”
Market Jitters and Economic Peril
The political instability rattled investors, who reacted with a swift market selloff. The CAC-40, France’s benchmark stock index, plummeted by nearly 2% from its Friday close, signaling a deep lack of confidence in the country’s economic stewardship.
Lecornu’s primary and now-failed mission was to navigate a budget through parliament amid a severe debt crisis. At the end of the first quarter of 2025, France’s public debt stood at a staggering €3.346 trillion ($3.9 trillion), equivalent to 114% of its GDP.
The composition of Lecornu’s short-lived government had drawn immediate and widespread criticism. His decision to appoint former Finance Minister Bruno Le Maire to the defense ministry was particularly controversial, as critics blame Le Maire for overseeing the ballooning of France’s public deficit during his tenure. Other key cabinet posts, including the interior, foreign, and justice ministries, had remained unchanged from the previous government.
A Crisis Years in the Making
The current crisis is a direct consequence of Macron’s decision to call snap elections in 2024, which resulted in a deeply fragmented National Assembly, or lower house of parliament. Lacking a majority, Macron’s centrist coalition has been unable to pass legislation without making unstable alliances. The far-right and left-wing opposition blocs together hold over 320 seats, while the centrists and their conservative allies control only 210.
In a bid to break the deadlock, Lecornu had consulted with all political parties and vowed not to use a special constitutional power, known as Article 49.3, which his predecessors frequently used to force bills through parliament without a vote. His failure to form a viable government through compromise has now left President Macron facing an even more uncertain political future.
