EU Threatens Sanctions on Panama

An official from the European Union threatened to impose sanctions on Panama and other countries if they allow tax evasion to prosper, after the Panama Papers leaked. Panama is already listed by the EU as a country that is not cooperative on tax issues. The dump of 11.5 million documents has already led to upheaval in Iceland, with the brief hiatus of the Prime Minister's term as well as implicated Chinese politicians and associates of Vladimir Putin, among others.