Sigmundur Davíð Gunnlaugsson steps down amid widespread anger over allegations his family attempted to hide millions in offshore account
Iceland’s embattled prime minister, Sigmundur Davíð Gunnlaugsson, has become the first major casualty of the Panama Papers, tendering his resignation amid a mounting political crisis over his family’s offshore investments.
A mass protest planned in Reykjavik later on Tuesday turned to celebration as Icelanders vented their anger at the outgoing prime minister following revelations that he had once owned – and his wife still owns – a secret offshore investment company with multimillion-pound claims on Iceland’s failed banks.
The agriculture and fisheries minister, Sigurður Ingi Jóhannsson, told state broadcaster RUV that Gunnlaugsson was resigning as prime minister and that he would be replacing him. Gunnlaugsson will, however, stay on as head of his Progressive party, Jóhannsson said.