France's economy minister Emmanuel Macron resigns

France’s economy minister Emmanuel Macron resigned from his post on Tuesday, suggesting he is preparing his candidacy for president.

With eight months to go till the French presidential election, Macron is expected to launch his bid to be France’s head of state, after helping incumbent Francois Hollande to power in 2012.

Hollande hired Macron, 38, as his economic advisor and then promoted him to economy minister in 2014 and was reportedly one of the president’s closest confidants.

Macron, a former Rothschild banker, became known for his labour and business reforms for the ruling Socialist party, such as the 35 hour week, wealth tax and extending Sunday trading hours.

Ahead of the 2017 election, in May he launched a door-to-door grassroots campaign to collect the electorate’s complaints, dubbed the ‘Great March’.

In July, Macron, who has never held an elected office, created a new centrist party, En Marche, which was seen as an avenue through which to launch his bid for the presidency.