Icelandic Prime Minister Sigmundur Gunnlaugsson has resigned after the Panama Papers showed he owned an off-shore company with his wife, which he did not declare.
Mr Gunnlaugsson seemed unrepentant in the face of accusations that he concealed millions of dollars' worth of assets and denied any wrong doing, however pressure had been building since the revelations.
Thousands of people protested outside the parliament building in the Reykjavik on Monday and opposition parties tabled a no-confidence motion.
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The revelation, described as the biggest leak in history, linked to 12 current of former heads of state, including Iceland’s prime minister, who has faced street protests calling on him to resign. Amongst the 140 politicians from more than 50 countries revealed in the leak, were more than 60 relatives and associates of politicians.