Iceland government seeks new leader to avoid early vote after Panama leaks

April 6, 2016 11:12 AM

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Iceland government seeks new leader to avoid early vote after Panama leaks

REYKJAVIK Iceland's government sought to avoid early elections on Wednesday by picking a replacement for the prime minister who stepped aside over links to an offshore company, as the "Panama Papers" leaks cast the tiny country into a political maelstrom.

Sigmundur David Gunnlaugsson exited on Tuesday after leaked documents from a Panamanian law firm showed his wife owned millions of dollars worth of previously undisclosed shares in a company that held debt from failed Icelandic banks.

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