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The French Premier Lecornu has handed in his resignation, less than a day after his government team was presented.

The Elysée palace issued a statement after the Prime Minister met the French President for an 60-minute discussion on Monday morning.

This unexpected development comes only under four weeks after Lecornu was given the PM role following the downfall of the prior administration of his predecessor.

Parties across the board in the legislature had fiercely criticised the structure of Lecornu's cabinet, which was mostly similar to Bayrou's, and promised to block its approval.

Calls for Snap Polls and Government Instability

Multiple political groups are now demanding new parliamentary polls, with others calling for Macron to step down as well - even though he has repeatedly stated he will not resign before his term ends in five years from now.

"The President needs to decide: dissolution of parliament or resignation," said Sébastien Chenu, one of leading figures of the RN party.

The outgoing PM - the ex-defense chief and a supporter of Macron - was France's fifth prime minister in under two years.

Context of Government Turmoil

French politics has been markedly turbulent since July 2024, when snap parliamentary elections resulted in a deadlocked assembly.

This has posed obstacles for every premier to garner the necessary support to approve legislation.

Bayrou's government was rejected in last month after parliament refused to back his austerity budget, which aimed to slash government spending by €44bn.

Economic Challenges and Market Reaction

France's deficit stood at 5.8 percent of economic output in the current year and its national debt is 114% of GDP.

That is the third highest public debt in the European monetary union after two southern European nations, and amounting to almost €50,000 per French citizen.

Stocks fell sharply in the Paris exchange after the announcement about the PM was released on Monday.