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French President Emmanuel Macron has tasked his outgoing Prime Minister Sebastien Lecornu with leading emergency meetings with political parties in a bid to break France’s escalating political crisis. Lecornu stepped down earlier Monday, hours after he presented his new cabinet, marking his government as the shortest-lived in French contemporary history.

According to Reuters, The move was in response to an agreement by Macron to give Lecornu 48 hours to finalize a platform for national stability, according to an official statement from the Elysee Palace. “The president has charged Mr Sebastien Lecornu, outgoing Prime Minister in charge of daily affairs, with the mission of carrying out last-minute negotiations by Wednesday evening in order to determine a platform for action and stability for the country,” it said.

Crisis Deepens Amid Political Deadlock

Lecornu’s resignation is against the backdrop of a fractured parliament and increasing political pressure. Macron has three difficult choices ahead:

Name a new prime minister – A figure from Macron’s own party appears unlikely, while a left-wing leader could alienate right-wing partners.

Dissolve parliament and hold snap elections – Something Macron has thus far resisted, fearing the far-right National Rally (RN) could win.

Resign – Macron has consistently dismissed this, even as there are increasing calls from far-left and far-right leaders.

After Lecornu’s resignation, the political atmosphere is still charged. RN leader Marine Le Pen called for snap elections, terming the current situation a “farce,” while hard-left France Unbowed’s Mathilde Panot also called on Macron to resign. The Socialists, meanwhile, have been calling for a left-wing prime minister to prevent elections.

Public Reaction and Market Fallout

Public opinion is increasingly one of anger. An Elabe poll for BFM TV indicated that three-quarters of French nationals are in favour of Lecornu’s resignation, with almost half attributing the crisis to Macron. Paris streets saw a combination of shock and demands for fresh elections, with citizens labeling the crisis as unprecedented.

Markets responded forcefully to Lecornu’s resignation. The Paris CAC 40 index plunged more than 1.3%, the worst-performing European index on Monday, and the euro lost 0.2% to $1.172. Investors are concerned as France struggles with increasing public debt, at present 113.9% of GDP, and a budget deficit well in excess of the EU’s 3% threshold.

France has not been so politically restless since the Fifth Republic was founded in 1958 with a model to provide stable, centralized rule. Macron, who upended the French political system in 2017, now deals with a fragmented parliament and divided electorate, making it challenging to win votes for reforms such as unpopular pension and budgetary changes.

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