The Next Idea
Iceland is one of those countries that you don’t tend to see in the international spotlight.
That changed this week, when the so-called “Panama Papers” were leaked, revealing that a law firm in Panama allegedly set up secret shell companies and offshore accounts to help world power players avoid taxes.
Iceland’s prime minister was the first major casualty of the Panama Papers. He stepped aside after the leaks showed he owned an offshore company with his wife.
But this isn’t the only political upheaval in recent Icelandic history. Following a financial crisis that all but crippled the country, Icelanders decided it was time to rewrite their constitution. And to do so, they turned to crowdsourcing.