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Panama Papers Shake Reykjavík’s City Council

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Panama Papers Shake Reykjavík’s City Council

Reykjavík City Hall

Reykjavík City Hall. Photo: Páll Stefánsson.

The aftershocks of the so-called Panama Papers continue. Two current Reykjavík City council members were entangled in the scandal, Júlíus Vífill Ingvarsson, a representative of of the Independence Party and Sveinbjörg Birna Sveinbjörnsdóttir, a representative of the Progressive Party.

Eleven million documents were leaked from a notorious Panama law form, revealing that countless politicians worldwide own off-shore companies in tax havens. The scandal involves the prime minister of Iceland, as well as two other ministers, and has caused widespread anger within Icelandic society.

Júlíus Vífill has just announced his resignation. The Panama Papers revealed he has an account registered in Panama, which he failed to report to the City of Reykjavík as a financial interest. Sveinbjörg Birna, whose ownership of companies in Luxembourg came to light after the Panama Papers were leaked, has asked for a temporary leave from her job, should the matter not be concluded once she returns from maternity leave.

The city council’s executive committee agreed today to let the city’s audit committee and the ethical committee of the Association of Municipalities review the city’s registration of financial interests.

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