Portuguese 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.