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Panama Papers Scandal: Iceland’s PM Resigns

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Iceland’s Prime Minister, Sigmundur David Gunnlaugsson, on Tuesday, resigned over leaked “Panama Papers” tax documents, which claimed that he and his wife used an offshore firm to allegedly hide million-dollar investments.

His resignation is coming shortly after he told Icelandic television Channel 2 that he was not going to resign over the issue.

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“I have not considered quitting because of this matter nor am I going to quit because of this matter,” he had said.

The Panama Papers had revealed that Mr Gunnlaugsson and his wife Anna Sigurlaug Palsdottir, had purchased an offshore company, Wintris Inc, in the British Virgin Islands in December in 2007, but the politician allegedly did not declare his interest when elected to the Icelandic Parliament two years later.