As Europe’s central bankers gather in Naples to discuss the state of the region’s economy, the city stands as a stark warning of just how bad things can get. “If there’s a periphery of the euro zone’s periphery, that’s Naples,” said economist Riccardo Realfonzo, a former councilman of the Southern Italian city. “The gap between the debate at the Royal Palace in Capodimonte and everyday life can’t be filled with just monetary policy.” In that hilltop residence where the Bourbon kings once harshly ruled Naples, members of the European Central Bank’s Governing Council will meet tomorrow for one of two gatherings they ... (full story)