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Iceland premier resigns in Panama Papers scandal

Iceland Prime Minister Sigmundur David Gunnlaugsson had been under pressure to resign since leaked financial documents showed he and his wife owned an offshore company in the British Virgin IslandsIceland’s prime minister resigned Tuesday, becoming the first political victim of a mushrooming worldwide scandal over hidden offshore financial dealings exposed in the so-called Panama Papers. Prime Minister Sigmundur David Gunnlaugsson was the biggest casualty of a worldwide media probe into 11.5 million leaked documents that purportedly reveal the offshore financial activities of 140 political figures, including 12 current or former heads of state. “The prime minister told (his party’s) parliamentary group meeting that he would step down as prime minister and I will take over,” the Progressive Party’s deputy leader Sigurdur Ingi Johannsson told a live broadcast.

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