Panama Papers pummel Iceland's PM after revelations of offshore funds
CBC Radio | Posted: April 6, 2016 12:07 PM | Last Updated: April 6, 2016
With recent revelations of the so-called Panama Paper, Iceland protesters demanded Prime Minister Sigmundur Gunnlaugsson resign, April 4, 2016. Police estimated a crowd of 8,000 people — the largest ever seen in Reykjavik.
The data leak, the biggest in history, revealed Iceland's Prime Minister failed to disclose an offshore account created through Panamanian law firm, Mossack Fonseca.
Gunnlaugsson walked away mid-interview when he was riled by questions from a tv journalist about a tax haven.
Despite his initial refusal to resign, Gunnlaugsson has now stepped aside, handing over the Office of the Prime Minister for "an unspecified time."
The fallout from the Panama Papers controversy has Iceland grappling with an uncertain political future. Some Icelanders are still recovering from the financial crisis of 2008 and now feel suspicions and bitterness towards politicians have now been proven.
Guests in this segment:
- Paul Fontaine, news editor of Reykjavik Grapevine, an English-language magazine in Iceland.
- Stefanía Óskarsdóttir, associate professor of political science at the University of Iceland.
This segment was produced by The Current's Sujata Berry and Willow Smith.