On 5 April 2016, the Prime Minister of Iceland Sigmundur David Gunnlaugsson from the Progressive Party stepped down. While emphasizing the step down was temporary, it is unlikely he will return as Prime Minister of the country. The Prime Minister has been the first big political figure to fall down following the historical leaks of the Panama Papers, in which his name was also mentioned. The step down was not enough as protests continued with calls for new elections as well. New elections were confirmed the next day on 6 April 2016 and are now planned for autumn this year. The Pirate Party is currently topping the polls, scoring over 40%.

The revelation proved sensitive, especially as the country itself had suffered heavily from a banking crisis in 2008-09, following the financial crisis. Many people in Reykjavik, the capital of Iceland, had been to the street before, to demonstrate, as a showing of strength of the vibrant democracy the small island nation is.

The Panama Papers might yet lead to more political causalities, as the government in Malta has come under fire as well, since the minister for energy and the chief of staff were also exposed in the leak, for which the Prime Minister has refused to hold them account for. David Cameron in the UK has in the meanwhile also been in the spotlight, as his father had held an offshore company, in which David Cameron used to have shares. Political implications are unclear for the moment, although discussions on the matter have been fierce in the UK.

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For more on the Panama Papers read our main article here, in which additional sources are provided.