Italy's anti-establishment and anti-euro party Five Star Movement (5SM) represent the greatest threat to euro area stability, analysts told CNBC on Tuesday, as the populist party surged ahead of its political rivals in the latest opinion poll, putting it on course to be the biggest party if elections were called.
5SM leader Beppe Grillo has enjoyed a recent, and remarkable, uptick in support, buoyed in part by the divisions in the ruling Democratic Party (PD) as former Prime Minister Matteo Renzi attempts to regain support.
Grillo, who has campaigned for Italy to hold a referendum on the single currency if elected, has overseen 5SM's support grow to 32.3 percent, according to an Ipsos poll published in daily newspaper Correa della Sera on Tuesday.
"If Five Star Movement could secure 30 or 40 percent of the vote then of course that would be extremely worrying for the euro area's stability. Whether they can gain an absolute majority… we'll have to wait and see," Claus Vistesen, chief euro zone economist at Pantheon Macroeconomics told CNBC via telephone.