Who’s afraid of the Five Star Movement? Why Italy leaving the euro remains unlikely regardless of what happens on Sunday

Several observers have raised the possibility that should Italy’s constitutional referendum result in a No vote, it could leave the door open for Beppe Grillo’s Five Star Movement (M5S) to win power at the next Italian election. As James L. Newell writes, there has been particular concern over this prospect due to the Five Star Movement’s commitment to hold a referendum on Italy’s membership of the euro. However, he argues that the chances of the M5S leading Italy out of the euro remain extremely unlikely, regardless of the result on Sunday.