Al Jazeera and the BBC are reporting that the Icelandic prime minister has resigned in the wake of revelations about his wife’s bank share holdings which came to light from the “Panama Papers” leak.
The leaks, from Panama law firm Mossack Fonseca, showed PM Sigmundur Gunnlaugsson owned an offshore company, Wintris, with his wife.
He was accused of concealing millions of dollars worth of family assets.
A big protest was held in front of parliament in Iceland on Monday.
Reports suggest the agriculture minister will be the new PM.
Gunnllaugsson had earlier tried to ask the Icelandic President to dissolve Parliament an hold new elections. The President refused as the Prime Minister had not received the consent of the minority party in his coalition government.