France's prolonged political crisis, triggered by President Emmanuel Macron's 2024 snap legislative elections that produced a hung parliament, has led to repeated government collapses, including the short-lived tenure of Prime Minister Sébastien Lecornu in late 2025. Opposition parties and even some former allies have intensified calls for Macron's resignation or early presidential elections to resolve the deadlock over budgets and legislation, yet he has consistently rejected these demands and prioritized appointing new prime ministers to stabilize governance. Macron's second term runs until May 2027, with no constitutional mechanism for early removal absent extraordinary circumstances such as a successful no-confidence vote or personal decision, and he has publicly confirmed plans to exit politics at term's end. Traders assign low implied probability to departure by mid-2026 due to these institutional barriers and Macron's control over foreign policy and executive functions despite domestic fragmentation. Upcoming budget negotiations and potential parliamentary maneuvers remain the nearest catalysts that could test stability.