Europe’s leading central bankers are at loggerheads over one of the biggest economic judgments facing the continent: does a disorderly Brexit pose a financial stability risk? Mark Carney, Bank of England governor, fears a messy and severe Brexit could be a “Jenga” moment that leads to the collapse of the legal architecture the underpins financial flows, hurting the City of London’s European customers even more than the UK itself, the Financial Times reported. Mario Draghi, meanwhile, is largely unfazed.

Differences among Bank of England officials about the outlook for interest rates moved into sharper focus on Tuesday, as one of them said rates might need to rise soon if the growth remains solid and inflation continues to accelerate. Last week the central bank signalled it was in no rush to hike rates, with BoE Governor Mark Carney stressing that Britain's economy would face "twists and turns" during its departure from the European Union.

It took nearly a year for Britain’s Premier Oil PLC to restructure $3.9 billion in debt, because it had to satisfy more than 40 investors. On Friday the oil and gas company announced it had struck a deal with private lenders and bondholders, The Wall Street Journal reported. “The process has taken longer than what would have been ideal,” said finance director Richard Rose in an interview with CFO Journal. “We have been talking to our lenders for over 11 months.” The company has aligned maturity dates to May 31, 2021, giving it more flexibility on its covenants.

Premier Oil is preparing to seek finance for a $1.5bn development off the Falkland Islands, as the UK company refreshes its strategy after its long-awaited debt restructuring deal last week, the Financial Times reported. Tony Durrant, Premier chief executive, said calmer relations between the UK and Argentina had improved the outlook for investing in the Falklands, where Premier has an estimated 520m barrels of resources in a field called Sea Lion.

Deteriorating credit outlooks for two U.K. retailers serving different ends of the wealth spectrum show that investors may drive a hard bargain when those companies next tap the debt market, Bloomberg News reported. First S&P Global Ratings downgraded value clothing chain Matalan one notch further into high-yield territory to CCC, citing a proposal to buy back some debt in the secondary market. This could amount to a "selective default," if it purchases debt at a market price that’s below par, S&P said.

The number of people declared insolvent in England and Wales rose last year for the first time since 2010, after hitting a post-financial crisis low in 2015, official figures showed on Friday, raising concern about households' financial health. Britain's economy was the fastest-growing major advanced economy last year, despite initial fears that June's Brexit vote would lead to an immediate downturn. But it has become increasingly reliant on rising consumer borrowing.

The Royal Bank of Scotland said on Thursday that it would set aside an additional $3.8 billion in its fourth quarter for investigations and litigation in the United States, even as rivals have reached settlements with the American authorities, the International New York Times DealBook blog reported. The bank, which is 73 percent owned by the British government after a bailout during the financial crisis, is looking to address legacy legal issues as its chief executive, Ross McEwan, aims to turn around the lender’s prospects.

UK banks risk losing their privileges to do business in the European Union, unless the British government agrees to abide by financial regulation decided in Brussels even after Britain leaves the union, the head of the group of euro-area finance ministers said, the Irish Times reported. “It is unthinkable that the EU will allow UK-based financial institutions full access to do business in the internal market without a sustainable coupling of future dynamic UK standards to the EU framework,” Eurogroup chairman Jeroen Dijsselbloem said in a speech in Brussels on Tuesday.

If the U.K. Supreme Court rules against her, Prime Minister Theresa May plans to rush a short bill through Parliament to trigger Brexit by her self-imposed March 31 deadline, Bloomberg News reported. The court’s 11 judges are due to give their verdict on a government appeal against a High Court decision that May should seek the approval of lawmakers before formally starting Britain’s withdrawal from the European Union. The ruling will be announced at 9:30 a.m. on Tuesday in London in a session expected to last five minutes.

Having left us fumbling around in the dark for months, British prime minister Theresa May finally flicked the light switch this week and revealed some of the UK’s strategy and the post-Brexit landscape that’s likely to unfold, the Irish Times reported. In a landmark speech that won her much acclaim from Brexiteers and the British media, May – “the new iron lady”, as the Daily Mail beamed – declared London’s intention to leave the single market and walk away from talks in the event Britain is offered a bad deal.