The Panama Papers just forced Iceland’s prime minister to resign

kveðjum, Sigmundur
kveðjum, Sigmundur
Image: Reuters/Scanpix Sweden
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Sigmundur Davíð Gunnlaugsson resigned as Iceland’s prime minister today (April 5) after the Panama Papers leak revealed his secret holdings in the Central American tax haven.

For two days, large crowds have been calling for Gunnlaugsson’s resignation outside the parliament buildings in Reykjavik. An estimated 22,000 people turned out for the demonstrations—a sizeable portion of the Nordic island’s total population of 320,000. 

The center-right prime minister walked out of a TV interview on Sunday when asked about an offshore company that he owns with his wife. The company’s assets included investments in Icelandic banks, which were bailed out by the government in the wake of the financial crisis.

Gunnlaugsson sought to hold early elections in the wake of the scandal, but was rebuffed by Iceland’s president.