Year in Review: Iceland’s Prime Minister Forced to Resign

Sigurdur Ingi JohannssonMOSCOW (Sputnik) – Gunnlaugsson initially said that he had no intention to resign over the information uncovered through the leaks, and even his April 5 declaration seemed to indicate that the prime minister wanted to simply wait out the public outrage well away from the spotlight.

According to the information presented by ICIJ, Gunnlaugsson and his wife Anna Sigurlaug Palsdottir owned a British Virgin Islands company, Wintris Inc, which held about $4 million in three Icelandic bonds. The couple bought the company in 2007 to invest the profits from the sale of Palsdottir’s family business, a Toyota dealership. When Gunnlaugsson entered the parliament two years later, he did not disclose his stake in this offshore business. In 2009, Gunnlaugsson sold his share in the company to his wife for $1.

In 2015, Gunnlaugsson’s government finally budged on the payments to the foreign creditors of Iceland’s banks, using the remaining assets of the institutions. Wintris, now belonging completely to Gunnlagsson’s wife, was among those

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