The U.S. and British governments Monday vowed to examine more closely foreign politicians and tycoons who hide fortunes in secret offshore accounts even as governments across the globe felt a wave of public anger over leaders with hidden assets.
Thousands of protesters gathered in Iceland’s capital of Reykjavik to demand the ouster of that nation’s leader over revelations of his offshore holdings. Riot police stood nearby, but the protest remained peaceful.
Inside Iceland’s parliament, opposition legislators considered a no-confidence vote of Prime Minister Sigmundur David Gunnlaugsson, a move that would lead to fresh elections, over news that he did not properly disclose his ties to Wintris Inc., a British Virgin Islands company with money tied to the nation’s collapsed banks. Gunnlaugsson denied that his ownership was a conflict of interest, insisted he’d broken no laws and said he would not resign.
From the White House to the Kremlin, and on to Panama City, Vienna and London, governments reacted to the disclosure of the so-called Panama Papers, a law firm’s once-secret database that details the offshore interests of 12 current or former world leaders, as well as 128 other politicians and public officials.