Panama Papers Compelled Iceland PM’s Resignation

The Prime Minister and PP chairman Sigmundur Gunnlaugsson resigned from his Premiership in the wake of the leaked Panama Papers, where his name has been mentioned.

The leaks, from Panama law firm Mossack Fonseca, showed Mr Gunnlaugsson owned an offshore firm with his wife.

It was not declared when he became an MP. Mr Gunnlaugsson says he sold his shares to his wife and denies any wrongdoing. But he is accused of concealing millions of dollars’ worth of family assets.

Followed by the resignation of Iceland Prime Minister Sigmundur Gunnlaugsson Iceland’s ruling coalition has named Sigurdur Ingi Johannsson as the new PM, with early elections to be held in the autumn.