France's new prime minister resigns hours after naming government

Picture: Photo/Aurelien Morissard.

France's new Prime Minister Sebastien Lecornu resigned on Monday, just hours after appointing his new cabinet, after allies and foes alike threatened to topple his government.

His resignation was unexpected and unprecedented and marked another major deepening of France's political crisis. French stocks dropped sharply, as did the euro, on news of the resignation.