Iceland’s Prime Minister Resigns Amid Major Fallout From the ‘Panama Papers’

Ever since his name came up in last weekend’s massive data leak, Icelandic Prime Minister Sigmundur David Gunnlaugsson has faced mass protests and calls for his removal from office. A short time ago, Iceland’s Progressive Party sent out an announcement stating that Gunnlaugsson offered his resignation today due to links to offshore tax evasion and money laundering schemes.

In a collection of documents known as the “Panama Papers,” Gunnlaugsson and several other world leaders were found to have employed the law firm Mossack Fonseca as part of a strategy to conceal assets from taxation. The revelations have already sent shockwaves throughout the world of international economics, and accusations of government corruption have started spreading across Iceland.

Gunnlaugsson spoke with President Olafur Ragnar Grimsson today in order to request that he dissolve the national parliament while he tried to set up snap elections and renegotiate support with the country’s various political parties. Grimsson denied this request, and after the Progressive Party decided not to back Gunnlaugsson in an emergency meeting, he agreed to abdicate his position.

[h/t CNN]
[image via Twitter]

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