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Frankie Fouganthin

Panama Papers: After 10,000 Protest, Iceland's Prime Minister Resigns

The Panama Papers leak revealed offshore accounts tied to Icelandic Prime Minister Sigmundur Gunnlaugsson.

By Zach Toombs | April 5, 2016

After 10,000 people protested, Iceland's prime minister is resigning.

That's about 3 percent of Iceland's population, which would be like almost 10 million Americans showing up to protest.

The Panama Papers leak showed PM Sigmundur Gunnlaugsson hiding funds in offshore accounts. Those could have been used to avoid taxes.

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He initially denied wrongdoing and even walked out of an interview on the issue.

"Something is being made suspicious that isn't suspicious," Gunnlaugsson said. "What are you trying to make up here? This is totally inappropriate."

Gunnlaugsson's resignation won't be official until Iceland's ruling party and president approve it.

This video includes images from Getty Images.

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