PARIS: France's President Emmanuel Macron on Monday accepted Prime Minister Sebastien Lecornu's resignation just hours after unveiling his cabinet, the presidency said, plunging the European nation further into political deadlock.

France's President Emmanuel Macron named Lecornu, a former defense minister, to the post last month.

But the largely unchanged cabinet he unveiled late on Sunday to work with Lecornu sparked fierce criticism across the political spectrum.

Lecornu Monday said the conditions were not satisfied to allow him to stay in office, after resigning following less than a month in the post.

"The conditions were not fulfilled for me to carry out my function as prime minister," Lecornu said, denouncing the "partisan appetites" of factions who he said had forced his resignation.

‘Deeply divided’

Lecornu had faced the daunting task of finding approval in a deeply divided parliament for an austerity budget for next year.

Lecornu's two immediate predecessors, Francois Bayrou and Michel Barnier, were ousted by the legislative chamber in a standoff over the spending plan.

France's public debt has reached a record high, official data showed last week.

France's debt-to-GDP ratio is now the European Union's third highest after Greece and Italy, and is close to twice the 60 percent permitted under EU rules.

Mired in deadlock

Previous governments had rammed the last three annual budgets through parliament without a vote, a method allowed by the constitution but deeply criticised by the opposition.

But Lecornu promised last week to ensure lawmakers were able to vote on the bill.

France has been mired in deadlock since Macron gambled on snap parliamentary elections in the middle of last year in the hopes of bolstering his authority.

The move backfired, leaving the Macron-friendly bloc in the assembly in a minority.

Stock market sinks

The Paris stock market slipped Monday as Prime Minister Sebastien Lecornu resigned after a month in the job, plunging the country into further political turmoil.

The CAC 40 index of blue-chip stocks was down more than two percent at around 0800 GMT.

Articles tagged with "PM Resigns"

France's new PM resigns hours after cabinet unveiled: presidency