Iceland's prime minister has sensationally resigned two days after he was caught up in the offshore tax scandal.
Sigmunder David Gunlaugsson is the first victim from the leaked Panama Papers which revealed the tax-avoidance arrangements of the rich and famous around the world.
The documents claimed he and his wife set up a company in the British Virgin Islands to hide millions of pounds with the help of Panama law firm Mossack Fonseca.
The revelations sparked fury across Iceland, with thousands gathering outside parliament to demand he stand down and opposition leaders presenting a motion of no-confidence against him.
Gunlaugsson, who denies wrongdoing, initially refused to quit and asked President Olafur Ragnar Grimsson to dissolve government and call a snap election instead.
But just hours later, he left it to his deputy to announce his dramatic U-turn.
Under fire: Iceland's Prime Minister Sigmundur David Gunnlaugsson speaks at the Icelandic Parliament in Reykjavik today. Gunnlaugsson made a request to dissolve government and call a snap election amid a dispute over his family's offshore tax affairs, but president Olafur Ragnar Grimsson has refused for now
Iceland's Prime Minister Sigmundur David Gunnlaugsson arrives at his residence in Reykjavik today
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