This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.theguardian.com/news/live/2016/apr/05/panama-papers-iceland-prime-minister-resigns-over-familys-offshore-company-live
The article has changed 10 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Panama Papers raise questions over past TV deals of new Fifa boss – live | |
| (35 minutes later) | |
| 7.17pm BST | |
| 19:17 | |
| We’re just five weeks into the election of Gianni Infantino, the Swiss-Italian former Uefa secretary general who won the race to succeed the disgraced Sepp Blatter in February. | |
| A European football administrator born just six miles from Blatter, its new president was elected in a bid to restore the world governing body’s reputational damage overseen by his predecessor. | |
| Here he is pledging, on his election, to restore the image of Fifa: | |
| 7.04pm BST | |
| 19:04 | |
| Fifa president pulled into corruption scandal by Panama Papers | |
| The new head of world football has been caught up in the sport’s corruption scandal because of documents that have been revealed by the Panama Papers leak. | |
| Files seen by the Guardian will raise questions about the role Fifa’s president,Gianni Infantino, played in deals that were concluded when he was director of legal services at Uefa, European football’s governing body. | |
| The Guardian’s Owen Gibson reports: | |
| According to records, Uefa concluded offshore deals with one of the indicted figures at the heart of an alleged “World Cup of fraud” despite previously insisting it had no dealings with any of them. | |
| The emergence of the contracts from 2003 and 2006, which were co-signed by Infantino, link Uefa for the first time to one of the companies involved in the huge unfolding scandal that has brought down former Fifa president Sepp Blatter. | |
| Uefa has denied any wrongdoing by any of its officials or any other marketing partner. | |
| It said the contracts were all above board. Fifa has previously insisted Infantino had no dealings with any of the officials currently under investigation – or their companies. | |
| Read on here: | |
| Updated | |
| at 7.06pm BST | |
| 6.52pm BST | |
| 18:52 | |
| The second day of protests is now underway in Iceland. Piers Scholfield, a BBC News Europe Producer tweets this footage: | |
| Anti-government protest #Iceland-style. pic.twitter.com/NuniC4JYMu | |
| 6.49pm BST | 6.49pm BST |
| 18:49 | 18:49 |
| The whole Icelandic saga continues to break some hearts abroad meanwhile: | The whole Icelandic saga continues to break some hearts abroad meanwhile: |
| Iceland? NO! You are supposed to be perfect! Don't do this to us! Who are we supposed to look up to now? Those jagweeds in Canada? | Iceland? NO! You are supposed to be perfect! Don't do this to us! Who are we supposed to look up to now? Those jagweeds in Canada? |
| 6.48pm BST | 6.48pm BST |
| 18:48 | 18:48 |
| So with the departure of Iceland’s prime minister, Sigmundur Davíð Gunnlaugsson, speculation has focused on the possibility that his post would eventually be filled by the leader of the Independence Party, which is in a coalition with Gunnlaugsson party. | So with the departure of Iceland’s prime minister, Sigmundur Davíð Gunnlaugsson, speculation has focused on the possibility that his post would eventually be filled by the leader of the Independence Party, which is in a coalition with Gunnlaugsson party. |
| Sigurdur Ingi Johansson, the current minister of fisheries and agriculture and a member of Gunnlaugsson’s Progressive , is in line to become prime minister, according to the Financial Times. | Sigurdur Ingi Johansson, the current minister of fisheries and agriculture and a member of Gunnlaugsson’s Progressive , is in line to become prime minister, according to the Financial Times. |
| But what of Bjarni Benediktsson, the finance minister and leader of the Independence Party? He was regarded as a potential replacement for Gunnlaugsson. Trouble is, Benediktsson has himself admitted to once owning part of an offshore company. | But what of Bjarni Benediktsson, the finance minister and leader of the Independence Party? He was regarded as a potential replacement for Gunnlaugsson. Trouble is, Benediktsson has himself admitted to once owning part of an offshore company. |
| Benediktsson will not seek to become PM, according to local reports in Iceland. | Benediktsson will not seek to become PM, according to local reports in Iceland. |
| 6.33pm BST | 6.33pm BST |
| 18:33 | 18:33 |
| The Panama Papers revelations relating to the Icelandic prime minister’s family “tipped the balance” of public anger in a country where many were already concerned about a lack of transparency, according to Icelandic journalist Sigrun Davidsdottir. | The Panama Papers revelations relating to the Icelandic prime minister’s family “tipped the balance” of public anger in a country where many were already concerned about a lack of transparency, according to Icelandic journalist Sigrun Davidsdottir. |
| The economy might be booming, she added, but it “just does not look good” in a country with capital controls [still, after the 2008 economic crisis] that the prime minister’s family has wealth outside of Iceland. | The economy might be booming, she added, but it “just does not look good” in a country with capital controls [still, after the 2008 economic crisis] that the prime minister’s family has wealth outside of Iceland. |
| Here’s a snatch of her interview with BBC Radio 5 Live : | Here’s a snatch of her interview with BBC Radio 5 Live : |
| This is Ben Quinn picking up the blog now from Peter Walker. | This is Ben Quinn picking up the blog now from Peter Walker. |
| 6.05pm BST | 6.05pm BST |
| 18:05 | 18:05 |
| It’s worth noting that Gunnlaugsson is not the only senior Icelandic politician named in the Panama Papers. The finance minister Bjarni Benediktsson, leader of the Independence party, appeared in the leaked documents in connection with a Seychelles-based company of which he once owned a third. | It’s worth noting that Gunnlaugsson is not the only senior Icelandic politician named in the Panama Papers. The finance minister Bjarni Benediktsson, leader of the Independence party, appeared in the leaked documents in connection with a Seychelles-based company of which he once owned a third. |
| Benediktsson flew back early from the US on Tuesday and reportedly had a meeting with the country’s president. | Benediktsson flew back early from the US on Tuesday and reportedly had a meeting with the country’s president. |
| 5.57pm BST | 5.57pm BST |
| 17:57 | 17:57 |
| Luke Harding | Luke Harding |
| Luke Harding sends an update on the ongoing reaction to the files in Russia which was, you may remember, very much in the focus yesterday when it came to the initial revelations from the Panama Papers. | Luke Harding sends an update on the ongoing reaction to the files in Russia which was, you may remember, very much in the focus yesterday when it came to the initial revelations from the Panama Papers. |
| Meanwhile, in Moscow three people were arrested on Tuesday for calling on Vladimir Putin to resign. The demonstrators were detained after staging a picket outside Russia’s parliament, or Duma, against the offshore industry. | Meanwhile, in Moscow three people were arrested on Tuesday for calling on Vladimir Putin to resign. The demonstrators were detained after staging a picket outside Russia’s parliament, or Duma, against the offshore industry. |
| They were standing in separate locations to get round Kremlin rules which forbid unauthorised public gatherings. Police detained them anyway and bundled them into a van. The three were from the small Progress Party, Novaya Gazeta newspaper reported. | They were standing in separate locations to get round Kremlin rules which forbid unauthorised public gatherings. Police detained them anyway and bundled them into a van. The three were from the small Progress Party, Novaya Gazeta newspaper reported. |
| Russia’s state TV channels have failed to report on the Panama Paper allegations, leaving many citizens in the dark. Liberal media outlets including the radio station Echo of Moscow have reported on claims that Putin’s best friend Sergei Roldugin, a humble cellist, has amassed an offshore portfolio worth hundreds of millions of pounds. | Russia’s state TV channels have failed to report on the Panama Paper allegations, leaving many citizens in the dark. Liberal media outlets including the radio station Echo of Moscow have reported on claims that Putin’s best friend Sergei Roldugin, a humble cellist, has amassed an offshore portfolio worth hundreds of millions of pounds. |
| Задержали Николая @nlyaskin, Дашу @yatsenkodarya. Полицейский не представился, основания для задержания не озвучили. pic.twitter.com/gpv5CW2GZ9 | Задержали Николая @nlyaskin, Дашу @yatsenkodarya. Полицейский не представился, основания для задержания не озвучили. pic.twitter.com/gpv5CW2GZ9 |
| 5.39pm BST | 5.39pm BST |
| 17:39 | 17:39 |
| David Smith | David Smith |
| My colleague David Smith in Washington sends some quotes from Barack Obama, who has addressed the Panama Papers while making a statement on the economy. | My colleague David Smith in Washington sends some quotes from Barack Obama, who has addressed the Panama Papers while making a statement on the economy. |
| There is no doubt that the problem of global tax avoidance generally is a huge problem. The problem is that a lot of this stuff is legal, not illegal. | There is no doubt that the problem of global tax avoidance generally is a huge problem. The problem is that a lot of this stuff is legal, not illegal. |
| David adds: | David adds: |
| The US president said the leak from Panama illustrated the scale of tax avoidance involving Fortune 500 companies and running into trillions of dollars worldwide. | The US president said the leak from Panama illustrated the scale of tax avoidance involving Fortune 500 companies and running into trillions of dollars worldwide. |
| “We shouldn’t make it legal to engage in transactions just to avoid taxes,” he added, praising instead “the basic principle of making sure everyone pays their fair share”. | “We shouldn’t make it legal to engage in transactions just to avoid taxes,” he added, praising instead “the basic principle of making sure everyone pays their fair share”. |
| Obama spoke in favour of his administration’s new rules to close corporate inversions, by which companies move overseas to avoid taxes. | Obama spoke in favour of his administration’s new rules to close corporate inversions, by which companies move overseas to avoid taxes. |
| He described the practice as ”one of the most insidious tax loopholes out there”. | He described the practice as ”one of the most insidious tax loopholes out there”. |
| You can read more about the wider US reaction to the files here: | You can read more about the wider US reaction to the files here: |
| Related: Justice department reviews US links to Panama Papers revelations | Related: Justice department reviews US links to Panama Papers revelations |
| 5.35pm BST | 5.35pm BST |
| 17:35 | 17:35 |
| A very helpful Twitter correspondent tells me my earlier explanation of the #cashljós hashtag was off the mark: | A very helpful Twitter correspondent tells me my earlier explanation of the #cashljós hashtag was off the mark: |
| @peterwalker99 FYI, #cashljós is a pun on the news programme Kastljós. | @peterwalker99 FYI, #cashljós is a pun on the news programme Kastljós. |
| @peterwalker99 Kastljós means 'casting light' - so a literal translation of the hashtag doesn't make sense. | @peterwalker99 Kastljós means 'casting light' - so a literal translation of the hashtag doesn't make sense. |
| 5.32pm BST | 5.32pm BST |
| 17:32 | 17:32 |
| This photo gives something of an idea of the pressure faced by the now-ex Icelandic PM. Here he is earlier today leaving the residence of Iceland’s president, Ólafur Ragnar Grímsson. | This photo gives something of an idea of the pressure faced by the now-ex Icelandic PM. Here he is earlier today leaving the residence of Iceland’s president, Ólafur Ragnar Grímsson. |
| 5.27pm BST | 5.27pm BST |
| 17:27 | 17:27 |
| Among the first to pass comment has been the man behind another very well-known leak, Edward Snowden, who draws a comparison between Gunnlaugsson’s fate and questions being asked of David Cameron about his family’s offshore tax affairs. | Among the first to pass comment has been the man behind another very well-known leak, Edward Snowden, who draws a comparison between Gunnlaugsson’s fate and questions being asked of David Cameron about his family’s offshore tax affairs. |
| The hastag #cashljós in the first tweet is popular currently on Iceland-based tweets about the issue. It means – if Google Translate serves me correctly – “cash out”. | The hastag #cashljós in the first tweet is popular currently on Iceland-based tweets about the issue. It means – if Google Translate serves me correctly – “cash out”. |
| In light of the same PM's next-day resignation, add this to the "list of things never to say in Iceland." #cashljós https://t.co/DvfbE6NHwh | In light of the same PM's next-day resignation, add this to the "list of things never to say in Iceland." #cashljós https://t.co/DvfbE6NHwh |
| Resignation of Iceland's PM may explain why the UK PM is so insistent public has no right to know a PM's "private" finances. #PanamaPapers | Resignation of Iceland's PM may explain why the UK PM is so insistent public has no right to know a PM's "private" finances. #PanamaPapers |
| 5.22pm BST | 5.22pm BST |
| 17:22 | 17:22 |
| The English-langauge Iceland Monitor says Gunnlaugsson suggested he resign, a plan then agreed by his Progressive party. The party has proposed Sigurður Ingi Jóhannsson, currently minister for fisheries and agriculture, to replace him. | The English-langauge Iceland Monitor says Gunnlaugsson suggested he resign, a plan then agreed by his Progressive party. The party has proposed Sigurður Ingi Jóhannsson, currently minister for fisheries and agriculture, to replace him. |
| 5.18pm BST | 5.18pm BST |
| 17:18 | 17:18 |
| So how did we get to this? Among the Mossack Fonseca files were documents showing that Gunnlaugsson and his wife, Anna Sigurlaug Pálsdóttir, bought a British Virgin Islands-based offshore company in December 2007 to invest her share of the proceeds of the sale of her father’s business. | So how did we get to this? Among the Mossack Fonseca files were documents showing that Gunnlaugsson and his wife, Anna Sigurlaug Pálsdóttir, bought a British Virgin Islands-based offshore company in December 2007 to invest her share of the proceeds of the sale of her father’s business. |
| While Gunnlaugsson sold his 50% stake to his wife for a symbolic $1 eight months after he was elected to parliament he failed to declare an interest in the company. | While Gunnlaugsson sold his 50% stake to his wife for a symbolic $1 eight months after he was elected to parliament he failed to declare an interest in the company. |
| Gunnlaugsson’s office says his shareholding was always an error, down to the couple having a joint bank account. There is also no evidence to suggest tax avoidance, evasion or any dishonest financial gain. | Gunnlaugsson’s office says his shareholding was always an error, down to the couple having a joint bank account. There is also no evidence to suggest tax avoidance, evasion or any dishonest financial gain. |
| This has, however, not been enough to prevent mass protests in Iceland, where any suggestions of financial impropriety are controversial following the chaos following the financial crisis of 2008. | This has, however, not been enough to prevent mass protests in Iceland, where any suggestions of financial impropriety are controversial following the chaos following the financial crisis of 2008. |
| More than 10,000 people staged a mass protest outside parliament on Monday night, with further demonstrations planned for Tuesday. | More than 10,000 people staged a mass protest outside parliament on Monday night, with further demonstrations planned for Tuesday. |
| 5.09pm BST | 5.09pm BST |
| 17:09 | 17:09 |
| Opening summary | Opening summary |
| We have the first major political casualty since the revelations began from the 11.5m files within the Panama Papers, documents from the major offshore law firm Mossack Fonseca. | We have the first major political casualty since the revelations began from the 11.5m files within the Panama Papers, documents from the major offshore law firm Mossack Fonseca. |
| Sigmundur Davíð Gunnlaugsson, Iceland’s prime minister, has resigned following mass protests after the files showed that his wife owned a secretive offshore investment company with multi-million pound claims on Iceland’s failed banks. | Sigmundur Davíð Gunnlaugsson, Iceland’s prime minister, has resigned following mass protests after the files showed that his wife owned a secretive offshore investment company with multi-million pound claims on Iceland’s failed banks. |
| Earlier today Gunnlaugsson sought to dissolve parliament, a move blocked by the country’s president, Ólafur Ragnar Grímsson. Iceland’s leftwing opposition had already presented a motion of no confidence in Gunnlaugsson’s centre-right coalition. | Earlier today Gunnlaugsson sought to dissolve parliament, a move blocked by the country’s president, Ólafur Ragnar Grímsson. Iceland’s leftwing opposition had already presented a motion of no confidence in Gunnlaugsson’s centre-right coalition. |
| Read the full story on this from Jon Henley in Reykjavik. | Read the full story on this from Jon Henley in Reykjavik. |
| Related: Iceland prime minister resigns over Panama Papers revelations | Related: Iceland prime minister resigns over Panama Papers revelations |
| Updated | Updated |
| at 5.19pm BST | at 5.19pm BST |