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The French Premier Sébastien Lecornu has handed in his resignation, under 24 hours after his ministers was announced.

The Elysée palace issued a statement after Lecornu met the French President for an 60-minute discussion on Monday morning.

This shock move comes only less than a month after Lecornu was named premier following the dissolution of the prior administration of François Bayrou.

Various groups in the National Assembly had strongly opposed the composition of his ministerial team, which was largely unchanged to Bayrou's, and vowed to reject it.

Pressure for Early Elections and Government Unrest

A number of factions are now clamouring for a snap election, with others calling for Macron to step down as well - despite the fact that he has consistently affirmed he will not leave before his time in office finishes in 2027.

"Macron needs to pick: dissolution of parliament or leaving office," said Sébastien Chenu, one of leading figures of the RN party.

Lecornu - the ex-defense chief and a Macron loyalist - was France's fifth prime minister in less than 24 months.

Context of Political Crisis

French politics has been markedly turbulent since July 2024, when early legislative polls resulted in a hung parliament.

This has made it difficult for any prime minister to obtain required votes to pass any bills.

The previous administration was voted down in last month after parliament refused to back his fiscal tightening package, which aimed to cut state costs by $51 billion.

Economic Pressures and Stock Reaction

The nation's budget gap hit nearly 6% of the economy in 2024 and its government debt is more than the total economic output.

That is the third largest government debt in the European monetary union after two southern European nations, and equal to almost €50,000 per French citizen.

Stocks fell sharply in the Paris bourse after the resignation report was released on Monday.