Tuesday, April 5, 2016

Panama Papers Scandal Brings Down Iceland’s Prime Minister

Prime Minister Sigmundur David Gunnlaugsson of Iceland was surrounded by members of the news media as he left a meeting with President Olafur Ragnar Grimsson in Reykjavik on Tuesday. Credit Birgir Por Hardarson/European Pressphoto Agency

LONDON — The prime minister of Iceland resigned on Tuesday after an enormous leak of documents from a secretive Panamanian law firm about offshore shell companies and tax shelters.
The resignation of the prime minister, Sigmundur David Gunnlaugsson, was the first prominent political fallout from the document leaks, which have shed unflattering light on the private financial activities of many rich and powerful people around the world.
Mr. Gunnlaugsson’s resignation was announced on television by Sigurdur Ingi Johannsson, a government minister and the deputy chairman of his Progressive Party, and it was confirmed by the state broadcaster, RUV.

Continue Reading at ...  http://www.nytimes.com/2016/04/06/world/europe/panama-papers-iceland.html?_r=0