Paris: The euro declined Monday following the resignation of French Prime Minister Sebastien Lecornu, exacerbating France’s political crisis and concerns of a potential downgrade of the country’s bond rating. The euro fell 0.63 percent against the US dollar, reaching $1.1688 per euro.
According to Qatar News Agency, the prime minister, appointed on September 9 and scheduled to hold his first cabinet meeting later in the day, submitted his resignation to French President Emmanuel Macron, who accepted it. This development comes amid a deep political crisis in France.
France has been in turmoil since President Macron risked calling early legislative elections last year in an effort to consolidate his power. This move resulted in the election of a parliament deeply divided between three parliamentary blocs.