Panama Papers leak: Iceland PM Gunnlaugsson refuses to resign

  • AP, Reykjavik
  • Updated: Apr 05, 2016 14:56 IST
File photo of Iceland's Prime Minister Sigmundur David Gunnlaugsson, who has been named in the Panama Papers about offshore financial dealings. (AP File Photo)

Iceland’s Prime Minister Sigmundur David Gunnlaugsson on Monday insisted he would not resign after documents leaked in a media investigation linked him to an offshore company that would represent a serious conflict of interest.

Reports have alleged that Gunnlaugsson and his wife set up a company in the British Virgin Islands with the help of a law firm at the centre of a massive tax evasion leak. The reports have prompted calls for a no-confidence vote in parliament against him.

Going on Icelandic television on Monday afternoon, Gunnlaugsson said he would not resign and added there was nothing new in the information contained in the Panama Papers data leak.

The revelation concerns the company Wintris Inc, which Gunnlaugsson allegedly created in 2007 along with then partner-now wife, Anna Sigurlaug Palsdottir.

He allegedly sold his half of the company to Palsdottir for $1 on December 31, 2009, the day before a new Icelandic law took effect that would have required him to declare the ownership of Wintris as a conflict of interest.

Wintris lost money as a result of the 2008 financial crash that crippled Iceland, and is claiming a total of 515 million Icelandic kronur ($4.2 million) from the three failed Icelandic banks: Landsbanki, Glitnir, and Kaupthing.

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