Portugal's Borrowing Costs Rise To A Seven Month High

Portugal’s borrowing costs rose to a seven-month high as political tensions grow over the country’s bailout terms. Yields on 10-year bonds hit an intraday high of 7.9% before easing back, while the Lisbon stock market closed down by 1.6%. Portugal Descends into Political Crisis The country has descended into political crisis over the implementation of austerity measures designed by troika creditors at the EU, IMF, and ECB. This morning, it’s been reported that the opposition is calling for a re-negotiation of the terms of Portugal’s bailout package. Last week, Portuguese finance minister Vitor Gaspar resigned over the austerity program. “Mr….