Icelandic PM resigns in wake of Panama Papers scandal

Iceland's Prime Minister Sigmundur David Gunnlaugsson has resigned, his party said on Tuesday, the first major political casualty to emerge from the leak of the so-called Panama Papers financial documents.

"The prime minister told (his party's) parliamentary group meeting that he would step down as prime minister and I will take over," the Progressive party's deputy leader and Agriculture Minister Sigurdur Ingi Johannsson told a live broadcast.