Iceland’s prime minister has resigned on Tuesday, becoming the first casualty of the global revelations on offshore companies, CNN reports.
In a day of high drama in Reykjavik, Sigmundur David Gunnlaugsson first tried to hang on by seeking the dissolution of parliament.
But after Iceland’s president refused to grant the request, Mr Gunnlaugsson decided to step down as prime minister but carry on as the head of his Progressive party. Sigurdur Ingi Johansson, the current minister of fisheries and agriculture, will become prime minister and try to continue the current two-party coalition government.
But it remained unclear how other political parties in Iceland would react and early elections could still be called.
READ: #PanamaPapers: What the Rich and Powerful are Hiding From the Rest of Us [READ]
The Panama Papers have set off a tornado that has so far swept many countries across the globe, current and former heads of state, the rich and famous in films, sports, their family and associates besides criminals in its wake.
The leaks have a few Nigerian names so far partly identified by online newspaper, Premium Times as well as the International Consortium of Investigative Journalists (ICIJ).
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