France's new Prime Minister Sebastien Lecornu and his government resigned on Monday, hours after Lecornu announced his cabinet line-up, in a major deepening of France's political crisis that drove stocks and the euro sharply lower.

Lecornu, who was Macron's fifth prime minister in two years, stayed in the job for only 27 days. His government lasted 14 hours, making it the shortest-lived in modern French history at a time when parliament is deeply divided and the euro zone's second-largest economy is struggling to put its finances in order.