Published On: Wed, Apr 6th, 2016

Panama Papers Leaks: Iceland Pm Sigmundur Gunnlaugsson Resigns Following Tax Scandal


Prime Minister of Iceland, Sigmundur Gunnlaugsson has resigned who is the first target in Panama Papers leaks in wake of tax scandal as offshore finance.


According to Panama-based law firm Mossack Fonseca’s leaks, the Iceland prime minister owned an offshore company alongside his wife Anna Sigurlaug Pálsdóttir but didn’t revealed regarding becoming part of the parliament.

Icelandic PM found guilty of hiding millions of dollars’ worth of family assets which is clearly violation of laws even said sold shares to wife Sigurlaug denied carrying out any misconduct during his ruling.


Mr. Gunnlaugsson’s quit has raised so many questions indicating his treacherousness while he is also among high-profile figures all over the world were tagged in the 11.5 million Panama Papers Leaks contains legal documents those were made public on 3 April, 2016.

After making public the documents, bit pressure rose on Icelandic senior leader that what caused by the sudden quit even since then a large number of citizens also started protest on Monday in front of the parliament building in the capital Reykjavik.

However, the opposition parties to table a confidence resolution, while before Tuesday, Gunnlaugsson had requested Icelandic President Olafur Ragnar Grimsson bringing to an end parliament as well call an early election.

Although president of Iceland answered saying he needs to consult with leaders of the Independence Party those have been ruling coalition with Gunnlaugsson Progressive Party since 2013.

On the other hand sudden request from PM made shock all senior leaders as well wasn’t possible to react immediately, explained the chairman of the Independence Party Gudlaugur Thor Thordarson.

Afterwards, earlier than the ahead of the proposed confidence vote, Icelandic Prime Minister Gunnlaugsson has officially declared his quit.

While the Agriculture Minister, the Progressive Party’s deputy leader of Iceland, Sigurdur Ingi Johannsson addressed news reporters’ team, stated after conference that party about decided to make him new prime minister.