FRANCE'S PRIME MINISTER Sébastien Lecornu Has Resigned, Hours After His Cabinet Was Unveiled.
His Resignation Came Only Hours After He Had Named Ministers For His Prospective Government. The Elysée Palace Made The Announcement After Lecornu Met President Emmanuel Macron For An Hour On Monday Morning.
The Shock Move Comes Only 26 Days Lecornu Was Appointed Prime Minister Following The Collapse Of The Previous Government Of Francois Bayrou. Several Parties In The National Assembly Had Fiercely Criticised The Composition Of Lecornu's Cabinet, Which Was Largely Unchanged From Bayrou's, And Threatened To Vote It Down.
Lecornu Had Promised A “Rupture” With Previous Macron Governments But Announced A Slate Of Ministers From His Predecessor’s Cabinet As Well As Ministers From Earlier Macron Administrations.
French Markets Fell, With The Cac 40 Stock Index Down 0.8 Per Cent. A Decline In Government Bond Prices Pushed Up The Country’s 10-Year Borrowing Costs 0.08 Percentage Points To 3.59 Per Cent.
The Additional Interest Rate Paid On French Debt Over Benchmark German Bunds A Closely Watched Measure Of Market Worries Hit 0.88 Percentage Points, Close To Its Highest Level Since The Eurozone Debt Crisis More Than A Decade Ago.