Icelandic PM to resign amid offshore holdings controversy

FILE - This is a Monday April 4, 2016 file photo of people who gathered to demonstrate against Iceland's prime minister, in Reykjavik. Iceland’s president on Tuesday April 5, 2016, refused a request from the prime minister to dissolve parliament and call a new election amid a dispute over the premier’s offshore tax affairs. (AP Photo/Brynjar Gunnarsson, File)

REYKJAVIK, Iceland (AP) — Icelandic Prime Minister Sigmundur David Gunnlaugsson will resign amid the controversy over his offshore holdings.

Agriculture Minister Sigurdur Ingi Johannsson told Icelandic broadcaster RUV that Gunnlaugsson was stepping down as leader of the country’s coalition government.

Opposition lawmakers say Gunnlaugsson’s offshore holdings amounted to a major conflict of interest with his job.

Gunnlaugsson is the first major scalp from a leak of more than 11 million documents from a Panamanian law firm showing tax-avoidance arrangements of the rich and famous around the world. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Note: Comments containing links are not allowed.

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