French President Emmanuel Macron has asked outgoing Prime Minister Sébastien Lecornu to remain in office for 48 hours to conduct final negotiations on a platform for action and stability, after Lecornu resigned complaining of political egos.
Lecornu, who became the shortest-serving prime minister in modern French history, had made a spontaneous resignation speech on Monday morning, blaming opposition parties for refusing to compromise and acting with partisan appetites. He said he had been ready to compromise but each party wanted the other to adopt its entire programme.
The cabinet of the 39-year-old former defence minister had been announced barely 12 hours before his resignation. Lecornu said he would inform Macron by Wednesday evening whether a viable path could be found, with government sources indicating Macron would assume his responsibilities if the effort fails.
The resignation compounds a political crisis that began when Macron dissolved parliament last summer, resulting in a hung parliament divided into three blocs. Macron faces the choice of appointing a new prime minister capable of passing a budget or dissolving the national assembly again, though he has said he will not resign before the end of his mandate in 2027.
Markets reacted negatively, with the CAC 40 index dropping 2% and the euro 0.7%. France's debt-to-GDP ratio is the EU's third highest, and its projected budget deficit of nearly 6% almost doubles the EU ceiling.
Opposition leaders called for Macron's resignation or fresh elections. Marine Le Pen said it would be wise for him to step down, while far-left France Unbowed reiterated calls for him to go. The conservatives of Les Républicains also urged fresh legislative elections.
