The Financial Times’ international edition of January 29 warned about “Italy’s political threat” to the European Union with the March 4 general election.

“No matter what happens on March 4, tensions between the new government and EU are assured,” reads the article by columnist Wolfang Munchau. He considers the likelihood of the election result being inconclusive.

However, Munchau highlights the possibility of a government being formed by the anti-establishment 5-Star Movement (M5S) and the right-wing, anti-migrant League of Matteo Salvini, which is currently part of the centre right alliance along with Silvio Berlusconi‘s Forza Italia (FI).

As reported by the Italian news agency ANSA, Munchau said both parties have a lot in common, including their Euroscepticism, their desire to see relations with Russian President Vladimir Putin improve and their backing for tax cuts.

“A Five Star/Lega alliance would almost certainly cause a collective heart attack among international investors,” he said.

According to Munchau, the reality would probably be less extreme since both groups have toned down their rhetoric against the euro. He said the main worry is that none of the big parties want to tackle a serious discussion about reforms.