We suspect more than a few 'prosecuted' bankers will be smiling wryly today as, following the exposure of his offshore financial dealings - revealed in the Panama Papers - Iceland's embattled Prime Minister Sigmundur David Gunlaugsson has just resigned. And after two days of denials and one protest, Notgunlaugssoon may be more appropriate.
Despite earlier refusal to step down, the decision, which was reported by national broadcaster RUV, followed street protests that attracted thousands of Icelanders angered by the alleged tax evasion.
Here is the official report, Google translated:
Sigmund David Gunnlaugsson, Prime Minister, gave to the parliamentary group meeting of the Progressive Party today Sigurður Ingi Jóhannsson, Minister of Agriculture, devices with the Prime Minister. Sigmund David will remain chairman of the Progressive Party. This Sigurdur Ingi informed the media after the meeting of parliamentary parties. Bjarni Benediktsson, chairman of the Independence Party, has been introduced this proposal.
Sigmund David did not want to talk to the media after the meeting - Karl Garðarsson said confidentiality rule of the meeting and Sigrun Magnúsdóttir said he was not aware that the government had ruptured
The FT reports adds that the new Prime Minister will be Iceland's Fisheries and Agriculture minister Sigurdur Ingi Johansson.
Which is odd, we were expecting Goldman could at least spare a vice president for the role, if not a managing director.