The Panama Papers, the biggest information leak in history, has continued to produce widespread aftereffects, which are threatening the internal stability of many countries and contemporary international relations.
The list of names in the Panama Papers increases day by day. So far approximately 140 politicians in 50 countries are allegedly involved in the case.
In the latest development, Argentina’s Federal Court began to consider an investigation on President Mauricio Macri, whose name is on the list.
Earlier, Icelandic Prime Minister Sigmundur Gunnlaugsson stepped down after the Panama Papers revealed he used a company to conceal his investments worth millions of British pounds.
British Prime Minister David Cameron is facing similar pressure as he was allegedly accused of having links with a fund his father established abroad to avoid tax payments.
The Icelandic Prime Minister’s resignation was followed by several finance and banking officials in Europe. The pressure is on Ukraine’s Prime Minister although he rejected the accusation and said an investigation will be carried out to seek the truth.
Public attention is on reactions and statements from Russia and China when a number of important politicians of the two countries appeared on the list.
Relatives of at least 8 retired and incumbent members of the standing committee of China’s politburo were named in the list.
The Chinese government has not made any official statement while the state media management agency refused to answer any related question from foreign correspondents.
Russian President Vladimir Putin rejected the accusation that he was hiding his property and avoiding tax payments. He said the accusation was an attempt by the West to weaken Russia.
The Panama Papers also revealed the names of 500 Indian civilians involved in tax evasion behaviors. These include movie stars, politicians, and entrepreneurs.
In Malaysia, while the scandal over Prime Minister Najib Razak’s involvement in the 1MDB state investment fund remains complicated his son and a number of individuals were also mentioned in the list. Some Cambodian officials were also revealed by the Panama Papers.
Two weeks after it was announced, the Panama Papers is threatening the internal stability of many countries.
Analysts say this scandal exposes loopholes in the global financial and banking system. It also demonstrates the temptation of power and problems in national management.
