Panama Papers Bring Down Iceland’s Gov’t

Iceland Prime Minister Sigmundur Gunnlaugsson resigned from office Tuesday, two days after leaked documents from a Panamanian law firm that handles offshore financial accounts showed his previously undisclosed investments. The documents allegedly show that he and his wife own a tax haven-based company with millions in holdings on some of the country’s collapsed banks. The new head of Gunnlaugsson’s party announced the news in a hastily arranged press conference in Reykjavik a day after 22,000 protesters gathered outside parliament to call for the prime minister to step down.