British bankers party like recession didn't happen

Over 1,000 bankers have been quaffing champagne like the recession never happened at the largest City party since the economic crash of 2007. Representatives from major banks including Barclays Capital, Credit Suisse, JP Morgan, and HSBC, toasted the green shoots of economic recovery with pricey Laurent Perrier Champagne.

The event, billed as "a festival for bankers", was to celebrate City magazine The Square Mile's 50th issue. The atmosphere was buzzing with little sign of the austerity facing the rest of the country.



One City banker joked about how the recession had affected him. "It's been a very hard few years. I have had to survive on my bonus and only one Maserati - that's how it is."

On the controversial subject of bankers' hefty bonuses, the guests all agreed that they were well deserved. "You want to see bankers getting large bonuses, as it means the banks are over-achieving and doing really well," said one City trader.