Still, Italy is no stranger to political stalemates and M5S and Lega have shown some willingness to at least talk about forming a government, although there are major differences over key policies.
For instance, M5S wants a universal basic income, which guarantees a minimum set of earnings for all, while the center-right coalition wants a flat income tax of 15 percent.
There are also frictions between political leaders, with M5S' Luigi Di Maio clashing repeatedly with Forza Italia's Silvio Berlusconi. So personalities are also likely to prove a sticking point.
In addition, old rivalries are at play. While the Democratic Party performed badly in the election, it nonetheless could have a decisive factor in the formation of a government, playing something of the role of "kingmaker," either choosing to support or oppose a proposed coalition government. It has previously shown an aversion to an anti-establishment M5S-led government, although the party is divided, with some members favoring a coalition.
Against this backdrop, political analysts did not expect the election of speakers Friday to provide any clarity on overcoming the deadlock created by the election.
"A possible deal over the speaker positions between the two populist forces that prevailed on March 4 — the Five Star Movement and the Northern League (Lega) – should not be regarded as a prelude to a possible joint governing arrangement," Wolfango Piccoli, co-president of Teneo Intelligence, said Tuesday.
The lack of visibility on a future government "is likely to persist for weeks and the outcome of the consultations that will start later this month remains highly uncertain," he added.
"Regardless, the election of the two speakers will constitute a first significant test for the cohesion of the center-right electoral bloc and the unity of the extremely-divided Partito Democratico (Democratic Party). This is important, given the fact that the arduous task of creating a working majority could be facilitated by eventual defections and a party split."