Portugal political crisis causes borrowing rate to leap

Portugal political crisis causes borrowing rate to leap

The interest rate Portugal must pay to borrow for 10 years leapt above 8.0 percent on Wednesday because of a political crisis in Lisbon sparked by the resignation of two ministers over austerity policies.

The rate rose briefly above 8.0 percent, considered a critical level for bailed-out Portugal, for the first time since November 2012, reaching 8.023 percent from 6.720 percent on Tuesday.

Breitbart Video Picks