On the 6th, French Prime Minister Lecornu announced his resignation.
Lecornu was appointed as Prime Minister by Macron on September 9th. Although French public opinion did not hold an optimistic view of the Lecornu government’s prospects, the fact that Lecornu resigned before even serving a full month and just after his government was formed still surprised many.
After his resignation, Lecornu gave a speech lasting several minutes at the Prime Minister’s office, stating that it was extremely difficult to lead the government at present, and admitted the cabinet formation process was not smooth.
He said that the government was already prepared to make compromises on important issues, but the opposition “pretended not to see.”
In addition, Lecornu posted on social media later that day, saying that, at the behest of President Macron, he would engage in two days of “final negotiations” with various political parties in an effort to maintain national stability.
He pointed out that he would report the results of the negotiations to Macron on the evening of the 8th local time, after which Macron would make the necessary decisions.
39-year-old Lecornu joined the French Republican Party in his early years and joined the ruling party’s camp in 2017. He has served in various local positions, including Mayor of Vernon in northern France and chairman of the Eure Departmental Council. He subsequently held multiple senior government roles, including Minister for Territorial Development, Minister for Overseas Affairs, and Minister of Defense.
Due to Lecornu’s resignation, multiple ministerial handover ceremonies scheduled for the 6th were cancelled. Lecornu was originally scheduled to announce the new government’s policy outline in the National Assembly on the 7th.
The list of new cabinet members in Lecornu’s government was published on the evening of the 5th and met with broad criticism from the opposition, while there were also voices of dissatisfaction within the participating governing French Republican Party. Just over ten hours after the list was published, Lecornu resigned.
Resignation Intensifies Turbulence in French Financial Markets
The news of Lecornu’s resignation quickly hit financial markets, intensifying the volatility of French stocks and bonds.
The yield on France’s 10-year government bonds soared more than 9 basis points intraday on the 6th, breaking through 3.6%—approaching the highs last seen during the 2011 European debt crisis. Market participants pointed out that the rise in yields signals heightened investor concerns about France’s debt risk.
The French stock market was also affected. The CAC40 index of the Paris stock exchange fell by 2% at the open. By contrast, other major European stock indices remained relatively stable.
According to France's Les Echos, the Prime Minister’s resignation has once again stalled the advancement of the 2026 fiscal budget, and the outlook for fiscal consolidation remains worrisome.