The Prime Minister of Iceland quit on Tuesday because of a new global
financial scandal. Sigmundur Gunnlaugsson resigned because his name was in
secret documents leaked from a Panama law firm. Journalists reported on the
11.5 million leaked e-mails and letters over the weekend. They contain
information about how the world's richest and most famous people avoid paying
tax. Thousands of the world's most powerful people appear in the documents.
Iceland's leader is the first to resign
because of the scandal. The Panama Papers name over 215,000 companies and
14,153 clients of the Panamanian law firm Mossack Fonseca, including many
current and former world leaders.
Many governments and
celebrities around the world are now trying to keep the scandal from hitting them.
British Prime Minister David Cameron could be embarrassed because his father
was one of the law firm's clients. Sports figures identified in the leaks
include Lionel Messi and the new FIFA president Gianni Infantino. He is shocked
that people are questioning his honesty. Mossack Fonseca could also be in
trouble. Journalists say it worked with 33 people or companies that were part
of international sanctions, including a cousin of the Syrian president Bashar
al-Assad, and companies in North Korea. A British tax expert said there is up
to $32 trillion in untaxed financial wealth
around the world.
7th April, 2016
Click HERE to read and listen at the same time
........................
Robert Palmer:The Panama Papers exposed a huge global problem. What's next? ( video with English subtitles)









