Iceland Prime Minister David Gunnlaugsson Has Resigned: Reports

By Ciara LinnaneMarketWatch Pulse

The prime minister of Iceland, David Gunnlaugsson has resigned, according to media reports Tuesday, including from the national broadcaster RUV. Gunnlaugsson came under criticism after his name showed up in the "Panama Papers," documents leaked from a Panamanian law firm detailing offshore accounts held by a wide range of political and business leaders. The papers were revealed on Sunday by a consortium of news outlets that had spent months examining them. The news led to mass protests in the Icelandic capital Reykjavik on Monday. The offshore company containing Gunnlaugsson's name is alleged to have had holdings in Iceland's collapsed banks.

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