The Collaborative International Dictionary of English v.0.48:
Fiasco \Fi*as"co\, n.; pl. Fiascoes. [It.] A complete or ridiculous failure, esp. of a musical performance, or of any pretentious undertaking. [1913 Webster]WordNet (r) 3.0 (2006):
fiasco n 1: a sudden and violent collapse [syn: debacle, fiasco]