Iceland names PM amid Panama fallout

Iceland's ruling coalition has named Sigurdur Ingi Johannsson as the new PM, with early elections to be held in the autumn.

Mr Johannsson, 53, is agriculture and fisheries minister and deputy leader of the Progressive Party (PP), BBC reported.

The move comes after PM and PP chairman Sigmundur Gunnlaugsson stepped down in the wake of the leaked Panama Papers.

The leaks, from Panama law firm Mossack Fonseca, showed Mr Gunnlaugsson owned an offshore firm with his wife.

It was not declared when he became an MP. Mr Gunnlaugsson says he sold his shares to his wife and denies any wrongdoing. But he is accused of concealing millions of dollars' worth of family assets.