The collapse of Sébastien Lecornu’s government before even being sworn in on Monday has plunged France into fresh political turmoil, rattling markets.
Lecornu was Emmanuel Macron’s third prime minister since the president called snap elections last year to head off the far right. It turned out to be the shortest-lived premiership since 1958, leaving Macron with few viable options and increasing the likelihood of another early parliamentary vote — all while France’s borrowing costs are rising.
In the absence of a parliamentary majority, Macron is increasingly losing allies and has a narrowing pool of candidates able to unite warring sides and agree on a budget for next year to tackle a gaping public deficit.
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