French PM Manuel Valls resigns

French PM Manuel Valls Monday submitted the government's resignation to President Francois Hollande who has asked him to form a new cabinet.

The government was badly shaken Sunday by criticism over its handling of the economy by Economy Minister Arnaud Montebourg, BBC reported.

Moments after Valls's resignation, Hollande issued a statement asking Valls to set up a new cabinet "consistent with the direction he has set for the country".

Valls, a member of the Socialist Party, was appointed prime minister March 31. He served as the interior minister from 2012 to 2014.