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France's Prime Minister Sébastien Lecornu has stepped down, less than a day after his cabinet was presented.

The French presidency made the announcement after the Prime Minister met President Emmanuel Macron for an hour on Monday morning.

This unexpected development comes only less than a month after he was given the PM role following the collapse of the previous government of François Bayrou.

Parties across the board in the legislature had strongly opposed the makeup of his ministerial team, which was largely unchanged to the previous one, and promised to block its approval.

Demands for Snap Polls and Government Unrest

Multiple political groups are now demanding early elections, with others calling for the President to also leave office - although he has always said he will not leave before his term ends in the year 2027.

"The President needs to decide: dissolution of parliament or stepping down," said Chenu, one of leading figures of the far right National Rally (RN).

Lecornu - the previous military head and a supporter of Macron - was the fifth premier in less than 24 months.

Context of Government Turmoil

French politics has been markedly turbulent since last summer, when sudden national voting resulted in a deadlocked assembly.

This has made it difficult for each PM to obtain required votes to pass any bills.

The previous administration was defeated in last month after lawmakers voted against his austerity budget, which aimed to slash government spending by $51 billion.

Financial Pressures and Stock Response

The French shortfall hit nearly 6% of the economy in the current year and its national debt is more than the total economic output.

That is the third highest public debt in the eurozone after Italy and Greece, and equivalent to almost 50k euros for each resident.

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