Iceland PM ‘To Resign’ After Panama Papers Leak

Iceland’s Prime Minister Sigmundur Gunnlaugsson is set to resign after revelations of his tax affairs were revealed in the Panama Papers leak.

The documents from Mossack Fonseca showed that the disgraced PM hid  millions of dollars of investments in his country’s banks in an offshore company under his wife’s name. Although it isn’t an illegal act, thousands of protesters turned up last night calling for his head, the vast majority of whom still have a sour taste in their mouths following the financial crisis.

Ingi Jóhannsson, the minister of agriculture and fishing, has told broadcaster RUV that Sigmundur David Gunnlaugsson had resigned as prime minister. He said Gunnlaugsson would remain the chairman of the center-right Progressive Party, and Jóhannsson himself would assume the prime minister’s post.

The move still needs the approval of the prime minister’s coalition allies in the Independence Party as well as the president.

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