Overview

• Sébastien Lecornu submitted his resignation to Emmanuel Macron after his government fell within hours, in what was reported as the shortest cabinet of the Fifth Republic.
• Les Républicains pulled support, angered by Bruno Le Maire’s surprise return as defense minister and a lineup criticized as a near copy of the previous team with 12 of 18 ministers retained.
• Lecornu had pledged not to use Article 49.3 to force through the budget and said parties ignored the significance of that break from recent practice.
• Financial markets slid on the turmoil, with the CAC 40 down about 1.75% and sharp declines in bank and insurer shares including SocGen, BNP Paribas, Crédit Agricole and Axa.
• Rassemblement National renewed calls to dissolve the National Assembly and La France Insoumise pressed for Macron’s removal, as France faces a third failed premiership since the 2024 dissolution.