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Panama Secrecy Leak Claims First Casualty as Iceland PM Quits

  • Decision follows protests that drew thousands of Icelanders
  • Finance Minister says key goal still exiting capital control
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Iceland Prime Minister Resigns After Protests

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The Panama secrecy leak claimed its first casualty after Iceland’s Prime Minister Sigmundur David Gunnlaugsson stepped down following allegations he had sought to hide his wealth and dodge taxes.

The decision was announced in parliament after the legislature became the focus of street protests that attracted thousands of Icelanders angered by the alleged tax evasion efforts of their leader. Gunnlaugsson, who will step back a year before his term was due to end, gave in to mounting pressure from the opposition and even from corners of his own party. He will continue as chairman of his Progressive Party and has handed over the premiership to his vice chairman “for an unspecified amount of time,” according to a statement from his office.