French political instability deepened on Monday as Prime Minister Sébastien Lecornu submitted his resignation to President Emmanuel Macron, ending a brief and turbulent tenure that lasted less than one month. (AP News) His fall punctuates a broader crisis: France has now seen multiple governments collapse in rapid succession as fragmentation and partisan rancor grip national politics.
Lecornu’s departure comes just hours after unveiling a new cabinet, which drew sharp criticism from both the left and right. (Reuters) The move underscores how fiercely contested the terrain has become, even for those weighing their political options carefully.
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A Short-Lived Premiership and the Weight of Expectations
Appointed on 9 September 2025, Lecornu was President Macron’s fifth prime minister in under two years. (Wikipedia) His appointment followed the ousting of François Bayrou through a failed confidence vote earlier that week—a blow that left Macron scrambling for solutions amid a divided National Assembly. (The Guardian)
Lecornu, a long-time loyalist to Macron who previously served as defence minister, was tasked with a narrow margin for error. (France 24) From the start, he pledged to chart a new course. He spoke of “rupture”—not just in style, but substance. (Le Monde.fr) He promised to avoid using Article 49.3 (a constitutional mechanism allowing a government to pass bills without parliamentary vote), and instead negotiate with lawmakers. (Reuters)
Still, the cabinet he put forward angered many: critics said it was either too right-wing or not sufficiently bold. (ABC) Among the most contentious appointments was that of Bruno Le Maire, moved from finance to defence—a decision that drew fire for past controversies. (AP News)
Within hours of unveiling the cabinet, Lecornu appeared boxed in. Lawmakers balked. Support collapsed. And by day’s end, he resigned. (Reuters)
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Why This Government Couldn’t Hold
1. A Parliament in Shards
Since Macron called a snap election in 2024, France’s parliament has remained deeply fractured. No single group commands a clear majority. (Wikipedia) Coalition-building has become a Sisyphean task, with centrists squeezed from both left and right. (France 24)
Already, previous attempts at forming durable governments have faltered. Michel Barnier’s administration collapsed in late 2024; Bayrou’s lasted only nine months. (Wikipedia)
2. Budget Battles and Method
At the heart of the crisis is the 2026 budget. Bayrou’s failed proposals sparked unrest and alienated parties across the board. (Wikipedia) Lecornu declined to push through the budget by decree, insisting on negotiation. (Reuters) Yet when budget demands collide with divergent political priorities, compromise proves difficult—even impossible.
3. The Clock Worked Against Him
In a fractured context, time is an enemy. Lecornu delayed announcing his full government, arguing he needed space to negotiate and consult. (Le Monde.fr) But that delay left him vulnerable. Once the cabinet was revealed, accusations of political faint-heartedness surfaced.
Moreover, public protests — dubbed “Block Everything” — threatened immediate disruption. (France 24)
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Immediate Fallout and Market Shock
The political tremors triggered a sharp sell-off in financial markets. France’s CAC 40 index plunged around 1.5–2%. (Reuters) Major banks—BNP Paribas, Societe Générale, Credit Agricole—led the losses. (Reuters) Meanwhile, the euro slid 0.7% to around USD 1.1665. (Reuters) French 10-year bond yields rose sharply, widening the spread over Germany. (Reuters)
Analysts warn the instability could raise borrowing costs and increase investor caution toward French credits. (Reuters)
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What Comes Next
A Caretaker Government
For now, Lecornu’s ministers remain in office in caretaker roles. (AP News) Macron must now select a successor—assuming the presidency chooses to avoid dissolving parliament first.
New Prime Minister or Snap Elections?
Some actors—especially the far-right National Rally (RN)—are demanding fresh elections, claiming only that can break the stalemate. (AP News) RN leader Jordan Bardella called for the dissolution of the National Assembly. (AP News)
Others expect Macron may try to appoint another centrist or moderate figure capable of brokering alliances. But the options are limited.
Risks for the Eurozone
France is Europe’s second-largest economy. A political collapse there could ripple across the continent. The euro weakens, French debt becomes riskier, and confidence in the stability of EU governance wanes. Markets will watch Paris closely.
Challenges for the Next Government
The next administration must hit several key points:
- Build cross-party support early.
- Negotiate budget lines carefully, seeking concessions without alienating core supporters.
- Manage public discontent, particularly on cost-of-living and pension pressures.
- Stay credible to markets, controlling yields and keeping borrowing costs in check.
- Avoid too much indecision—time is short and public patience is thin.
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France is now in an acute constitutional moment. Each minute without clarity breeds nervousness—among voters, business leaders, and international partners. The question ahead: who can forge a fragile alliance before the next domino falls?
