Italian election results: M5S is a political earthquake THREATENING Europe, expert warns

The proved to very much be a hard-fought battle between two players, with M5S and the centre-right bloc dominating the ballots.

M5S could now hold the keys to the next Italian Government after becoming the first single party in .

But political scientist Mr Desideri said the impact the Italian elections will have on the European Union will depend on the type of alliance the M5S will opt for.

Mr Desideri said: “Should the 5 Star Movement lean more towards the Lega – possibly because of a rejection of the left of an alliance with the 5 Star Movement – that would really be something for Europe to look at with attention.”

A marriage between the two eurosceptic parties is one of the most feared outcomes of the elections.

based on results show the two would have a parliamentary majority and there are wide overlaps in their manifestos, with both calling for greater spending on welfare, a rejection of EU deficit rules and a crackdown on illegal immigration.

M5S leader Luigi di Maio confirmed his party would be available to strike an alliance with “any party” on the Italian political scene but was rebuked as Lega leader Matteo Salvini dismissed calls for a coalition with the movement.

Mr Desideri added that M5S could also consider negotiating with the crashing Democratic Party (PD) despite previous clashes between the two parties.

Talking to CNBC, he said: “It’s definitely a political earthquake, I believe. It’s really a matter of what the Five Star Movement is going to decide now.

“Their preference seems to be an alliance with the left rather than with the Lega. In that case the M5S is not going to be so much of a eurosceptic party.”

Five Star’s seats in combination with the PD, perhaps with extra support by the far-left Liberi e Uguali (LeU) party, is another possibility.

With half the ballot counted, it looked almost certain that none of Italy’s three main factions would be able to rule alone and there was little prospect of a return to mainstream government, giving the European Union a new headache to handle.

Italy has long been considered a threat to European stability because of the insecurity of its banks, on which the country’s political disharmony has a substantially bad impact.