Dharavi, Asia’s largest slum in Mumbai, is set for an $8 billion makeover. The project promises new infrastructure but raises concerns over resident displacement.
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Dharavi, Asia’s largest slum in Mumbai, is set for an $8 billion makeover. The project promises new infrastructure but raises concerns over resident displacement.
French Prime Minister Sébastien Lecornu has resigned after just 27 days in office, making him the shortest-serving prime minister in the history of the Fifth Republic. His resignation comes just 14 hours after appointing his new cabinet, which faced criticism across the political spectrum.
Lecornu’s cabinet appointments, particularly the controversial decision to reappoint former Finance Minister Bruno Le Maire as Defense Minister, sparked backlash from both allies and opponents. The new cabinet was perceived as lacking fresh perspectives, with several key positions remaining unchanged from the previous administration. This continuity was seen as a missed opportunity to address the deep political divisions in the National Assembly.
The resignation has intensified the political crisis in France. The far-right National Rally party has called for President Emmanuel Macron’s resignation and new elections, arguing that the current government lacks legitimacy. Similarly, the far-left France Unbowed party has echoed these demands, citing the government’s inability to unite the deeply fractured legislature.
The political instability has had immediate economic repercussions. The CAC 40 stock index dropped nearly 2%, and the euro weakened against the dollar. Government bond yields rose, reflecting investor concerns over the country’s fiscal stability.
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