WHAT A FIASCO!
According to the Oxford English Dictionary, the word fiasco means “a complete failure, especially a ludicrous or a humiliating one”. It is a derivative of the Italian phrase fare fiasco, which means to make a bottle.
It is unclear how this Italian phrase is the etymological root of the word complete breakdown or failure. It has been speculated by some wine circles that in the aftermath of WWII, Chianti was of very poor quality – pejoratively referred to as the “spaghetti wine” . It was sold in a straw covered round bottle with a long neck, which in medieval Italian is called fiaschi, hence, the possible reason.