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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 said.

Gunnlaugsson became the first prominent casualty from the revelations in the so-called Panama Papers, which have cast light on the financial arrangements of an array of politicians and public figures across the globe and the companies and financial institutions they use.

Earlier on Tuesday, 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.

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Sigtryggur Johannsson/Reuters Iceland’s Prime Minister Sigmundur David Gunnlaugsson resigned Tuesday after a massive leak of documents revealed his wife owned an offshore company with big claims on collapsed Icelandic banks.

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Click link below for story, video, photos and slideshow:

http://www.huffingtonpost.com/entry/iceland-prime-minister-resignation-panama-papers_us_5703bd21e4b0a06d5806d3ee

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