Arnaud Montebourg

Benoit Hamon, a former Socialist government rebel, won the first round of a primary on Jan. 22, and will meet ex-prime minister Manuel Valls in a runoff to decide who will be the candidate of the beleaguered left in a presidential election in spring. 

Marine Le Pen has overtaken French presidential favourite François Fillon to become the frontrunner in the latest first round election poll.

The Front National leader is now polling at 26.5 per cent, a lead of 1.5 per cent over former Conservative Prime Minister Fillon.

French Prime Minister Manuel Valls presented his government's resignation on Aug. 25, a day after Economy Minister Arnaud Montebourg called for new economic policies and questioned neighbour Germany's "obsession" with budgetary rigour.

France's Prime Minister Manuel Valls presented the resignation of his government to President Francois Hollande on Monday and was asked to form a new cabinet.

The press office of Hollande informed in a statement that a new government would be formed on Tuesday in line with the course outlined by the President.

The European Central Bank (ECB) is coming under increasing pressure to do more to stem the strength of the euro currency, which is hurting exporters and keeping a lid on the region’s recovery from recession.

ECB President Mario Draghi is likely to face questions on what can be done to reduce the value of the euro when he faces lawmakers at the European Parliament July 14.

Segolene Royal, former partner of France's President Francois Hollande, has entered the country's new government.