LONDON — The revelation of vast wealth hidden by politicians and powerful figures across the globe set off criminal investigations on at least two continents on Tuesday, forced leaders from Europe to Asia to beat back calls for their removal and claimed its first political casualty — pressuring the prime minister of Iceland to step down. Public outrage over millions of documents leaked from a boutique Panamanian law firm — now known as the Panama Papers — wrenched attention away from wars and humanitarian crises, as harsh new light was shed on the elaborate ways wealthy people hide money in secretive shell companies and offshore tax shelters. The repercussions have come quickly. In Iceland, Prime Minister Sigmundur David Gunnlaugsson, confronted by demands for his resignation after documents revealing that he and his wealthy wife had set up a company in the British Virgin Islands led to accusations of a conflict of interest, asked his deputy to take over on Tuesday. In Britain, Prime Minister David Cameron faced calls for a government inquiry and accusations of bald hypocrisy by championing financial transparency — when the leaks showed that his family held undisclosed wealth in tax havens offshore. In Pakistan, where roughly… Read full this story
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