Prime Minister resigns over Panama papers

A major casualty already after the release of the Panama papers, with the prime Minister of Iceland resigning.

Iceland Prime Minister resigns over scandal

Iceland’s Prime Minister Sigmundur David Gunnlaugsson is to step down after leaked documents from a Panamanian law firm showed his wife owned an offshore company with big claims on collapsed Icelandic banks, his party says.

On Tuesday night, Gunnlaugsson had asked Iceland’s president to dissolve parliament in the face of a looming no-confidence vote and mass street protests over the revelations. Such a move would almost certainly lead to a new election.

The spotlight will continue on other leaders.

With the fallout from the leaks reverberating across the globe, British Prime Minister David Cameron also came under fire from opponents who accused him of allowing a rich elite to dodge their taxes.

And in China, the Beijing government dismissed as “groundless” reports that the families of President Xi Jinping and other current and former Chinese leaders were linked to offshore accounts.

The more than 11.5 million documents were leaked from the Panamanian law firm Mossack Fonseca. Among those named in them are friends of Russian President Vladimir Putin, relatives of the leaders of China, Britain and Pakistan, and the president of Ukraine.

Newe Zealand has been implicated as a tax haven – see “New Zealand is not a tax haven”

Meanwhile the source of the leak, the motivation and the timing of the leak also raise interesting questions.

 

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10 Comments

  1. Clemgeopin

     /  6th April 2016

    The world has never seen so many high flying crooked rich prick thieves, tax dodgers and arseholes shitting their pants simultaneously all around the world including in NZ.

    Reply
  2. Brown

     /  6th April 2016

    We have trumpeted on about being global citizens in a global economy. What’s wrong with selecting financial citizenship of jurisdictions that look after you best? Govts are competing for tax dollars now and they don’t like it. The other point is that the rich will be paying lots of tax in various ways because they spend lots. At least that spend is making the world go round where govt spend is so often wasted.

    Reply
  3. Clemgeopin

     /  6th April 2016

    This morning when I saw the title of this article, I immediately clicked on it with great anticipation to read the details of the good news but sadly, I was quite disappointed when I realised it was a distant crook!

    Reply
    • Gezza

       /  6th April 2016

      I know. The bloody media. It was just a trick to get a yuuuge number of clicks 😉

      Reply
    • Pete Kane

       /  6th April 2016

      “……..but sadly, I was quite disappointed……..” – Sorry for the lack of good news. Iceland was scammed on a scale ‘Sir’ Rodger Douglas, Ruth Richardson and the Fay Richwhite Boys etc could only dream of. A lesson learnt I hope. (I’m really hoping some of the ‘bright boys’ here – that I missed at Law School, tell me this is defamatory, as they seem prone to throw at others.)

      Reply
  4. Zedd

     /  6th April 2016

    I thought all my dreams had come true.. Key had gone.. then i thought; NO its not April fools day either ! Time to wake up from the ‘planet-key nightmare’.. 2017

    BUT PG you caught my attn. 😀

    Reply

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