Tour made the city more tourist-friendly

It might be cold, it might be grey and everybody's favourite topic might be that summer has yet to arrive (let's face it, it'…

It might be cold, it might be grey and everybody's favourite topic might be that summer has yet to arrive (let's face it, it's already more than fashionably late), but the tourists are buzzing around the city spending money, helping the economy and having a good time.

The tourist profile seems to have shifted over the past few years from middle-aged Americans to European backpackers. It must be a consequence of our wholehearted support of economic and monetary union it's certainly not the promise of blue skies and warm beaches.

At the corner of O'Connell Street last Friday the only 10 French people who weren't at home to support their World Cup team were discussing the exchange rate. These people were obviously Tour de France supporters because they were bedecked in bright yellow lycra tops and an assortment of cycling shorts the fashion nightmare of the 1990s.

To be honest, the Tour de France held no interest for me whatsoever, but it turned O'Connell Street into a wonderful pedestrian zone and made it so much more tourist-friendly. It may not have been of immediate benefit to local traders (quite the opposite), but the tourists are going home with a wonderful impression of a traffic-free main street in Dublin. I don't know where the massive number of cars would go if the street were closed to traffic on a more permanent basis, but it's an appealing thought.

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The past sport-filled month has clarified for me what all those sociologists meant when they talked about more time for leisure they meant the business of leisure. Because that's what it most certainly is the Tour, Wimbledon, the World Cup so much sporting business all packaged up under the leisure label. Who would have imagined football clubs being floated on the Stock Exchange 20 years ago?

The best thing about the Tour de France, as far as Ireland is concerned, is that we have been able to stage a major sporting event without having to commit ourselves to building 50-metre pools or football stadiums with the kind of facilities that people want to have when they're handing over hard-earned cash for the privilege. That corporate money has made a huge difference to sport is beyond doubt. Most people would rather pay more to go to a well-organised event with a host of decent facilities than a run-down stadium in sad need of repair with awful facilities (Lansdowne Road take note), even if it does mean bumping into some corporate entertainees with no interest in the game in question whatsoever.

To complete a Grand Slam of sporting viewing last Sunday, we went along to see South Africa whop Ireland at Clontarf Cricket Club. The event was a great mix of informality and excellent organisation and a good crowd of people turned up to cheer on the home team. (If the temperature had been a few degrees higher than freezing it would have been even better.)

Our host had organised a barbecue and as luck would have it the sun came out just as Ireland finally succumbed and we toasted their gallant defeat with spare-ribs and beer. The South Africans then treated us to a display of their rugby talents (Lansdowne Road take note again) and sprinted around the pitch a few times.

But to add another touch of sporting interest to an already crowded weekend, I met a guy called Christy O'Connor who runs a golf club in Hollystown, Co Dublin. I guess whenever anyone is introduced to someone called Christy O'Connor in Ireland you're almost obliged to ask if they're related to the other Christy's and, naturally, he was. A true professional, he offered to help me with my swing although I think he was already impressed enough with my beer-glass lifting action. Anyway, I have no idea whether or not it's difficult to get into a golf club these days, but Christy and his partner are still accepting members. If anyone in the IFSC feels that their promotion prospects would be enhanced by some additional golfing tuition, or actually joining a club, you can give them a shout on 01 8207444.

With time now resting heavily on his hands, maybe Japan's ex-Prime Minister Ryutaro Hashimoto might join. Although with property prices the way they are in Japan, and salarymen losing jobs all over the place, perhaps he'll find it easy to obtain one of the country's former prize jewels golf-club membership. Or maybe not only winning 47 out of the 61 seats he formerly held, he might not want to show his face around the greens for a while.

He appeared on television at the weekend blaming himself for the defeat saying: "Our failure in the election is my fault and responsibility". (I can't wait to hear an Irish politician say that.)

The markets were unsure in their reaction to the defeat there was optimism that his successor would have to get to grips quickly with the disaster that is the economy, but doubts about the enactment of the Bridge Bank plan and worries about the scale of promised tax reforms.

On Monday, the two names touted as favourite successors were Keizo Obuchi, the Foreign Minister, and Seiroku Kajiyama, the former chief cabinet secretary. I know nothing about Mr Obuchi, but the NCB resident Asian expert (and I think you call a guy who gave up his job in Japan when the Nikkei was at 39,000 something of an expert!) reminded me that Mr Kajiyama was the politician who refused to apologise for the provision of South Korean Comfort Women for Japanese soldiers during the second world war . . . perhaps this was why he insisted that he had no desire for office.

Things picked up in Russia, too, after the IMF finally agreed on a total package of $22.6 billion (£16 billion) over two years. From a market that nobody wanted to touch with a barge pole last week, it turned into the must-have market on Monday. Prices soared and the prophets of doom had changed their call from "buy at your peril" to "extremely appealing".

The Russians have agreed to a considerable restructuring package and said there is now no need to devalue the rouble. So the game has been completely turned around by the Russians in the second-half. All we have to do is wait to see whether they score a spectacular own goal or a blinding winner.