Panama Papers May Inspire More Big Leaks, if Not Reform

Within days, Iceland’s prime minister, whose offshore company was revealed by the papers, had stepped down. So had a Spanish government minister, an Armenian justice official and a member of the ethics committee of FIFA, the world soccer association. President Vladimir V. Putin of Russia, whose friends had moved $2 billion through offshore companies, denounced the disclosures as an American plot to smear his country.
A Mexican cartel suspect was arrested in Uruguay at an address disclosed in the documents. Sierra Leone began to investigate mining contracts. The Swiss police raided the European soccer headquarters. The art market was rocked by revelations of subterfuge in the sale of valuable paintings.

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