President Emmanuel Macron is under immense pressure to either resign or call a snap parliamentary election to resolve France’s worst political crisis since the founding of the Fifth Republic in . The turmoil is evident, with five prime ministers having resigned in under two years.
While the -year-old centrist has insisted he will serve out his second term, which ends in , calls for his resignation have moved from the fringe into the mainstream. Notably, Édouard Philippe, Macron’s first prime minister, publicly stated on Tuesday that the president should be “leaving in an orderly manner” to break the political deadlock.
This chaos—including the short-lived -hour administration of outgoing Prime Minister Sébastien Lecornu—is causing alarm across Europe and rattling financial markets, with French stocks falling and the risk premium on government bonds rising to a nine-month high. Lecornu has been given two days to find a consensus, but the far-right National Rally has already refused talks, instead repeating their demand for a dissolution of the National Assembly.
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