/ fiˈæskəʊ; NAmE fiˈæskoʊ/ noun
( pl. -os , NAmE also -oes ) something that does not succeed, often in a way that causes embarrassment
SYN disaster :
What a fiasco!
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WORD ORIGIN
mid 19th cent.: from Italian , literally bottle, flask , in the phrase far fiasco , literally make a bottle, figuratively fail in a performance: the reason for the figurative sense is unexplained.