Thousands protest demanding Icelandic PM’s resignation

Iceland’s opposition filed a motion of no confidence in the prime minister and protesters gathered outside parliament on Monday after the Panama Papers showed his wife owned an offshore company with big claims on the country’s collapsed banks. The allegations in the leaks released globally over the weekend first surfaced in Iceland last month. But the renewed spotlight has racked up pressure on Prime Minister Sigmundur David Gunnlaugsson. The papers reportedly show he and his wife used an account on the British Virgin Islands as Iceland’s banking system crashed and lenders had to be bailed out in 2008-9.

I certainly won’t (resign) because what we’ve seen is the fact that, well, my wife has always paid her taxes. We’ve also seen that she has avoided any conflict of interest by investing in Icelandic companies at the same time that I’m in politics.

Gunnlaugsson

Crowds outside parliament demanded his and his government’s resignation, beating drums and sounding horns. Organizers said more than 10,000 had gathered. Many Icelanders blame politicians for failing to control bankers and for years of austerity after Iceland’s big banks failed in 2008, sending the economy into a nosedive.

It is only logical new elections take place.

Arni Pall Arnason, head of the opposition Social Democratic Alliance

Panama Papers