Reuters
Source: Reuters
France’s President Emmanuel Macron faced growing pressure on Tuesday to resign or hold a snap parliamentary election to end political chaos that has forced the resignation of five prime ministers in less than two years.
But resignation calls, long confined to the fringes, have entered the mainstream during one of the worst political crises since the 1958 creation of the Fifth Republic, France’s current system of government.
On Tuesday, as Macron’s outgoing Prime Minister Sebastien Lecornu held last-ditch talks to form a new government, his first premier in 2017, Edouard Philippe, said it was time for a new president to break the deadlock.
Speaking to RTL radio, Philippe said Macron should be “leaving in an orderly manner” to allow a way out of the crisis.
‘IT’S A MESS’
Political turmoil in the euro zone’s second-largest economy was front page news across Europe at a time when U.S. President Donald Trump is demanding the continent do more to shore up its own defences and aid Ukraine.
Markets have taken fright, with investors keeping a close eye on France’s ability to cut a yawning budget deficit. French stocks fell 1.4% on Monday and the risk premium on French government bond yields rose to a nine-month high on the crisis.
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