As has been said, the turnout was very low - lower than its ever been in Euro elections. Mainstream parties were struggling to get their vote out, which tended to exaggerate the far right successes.
Also, it was much more the mainstream Christian Democrats who were the victors than the far right - which is no comfort at all but is not a sign of fascism on the march.
Pointed is the failure of Europe's Socialist left which has singularly failed to make any popular appeal over the recession. In Britain this is painfully obvious because they are incumbent (but on Thursday's election will be beaten into third place, having lost event to the crackpot UK Independence Party). But in Italy, France and Germany, they have made no headway against incumbent right of centre govt's.
One feature less commented on is the wholesale disengagement of the European masses from the European Union project. After the 2005 left mobilisation stymied the EU constitution referenda, Europe's elite have let it be known that they will be carrying on with or without a popular mandate. Little wonder, then, that so few people participate in the Euro elections, or that fiercely anti-EU candidates do well.