It refers to a complete failure, especially a public one.
For example:
* "The party was a complete fiasco."
* "The play was a fiasco, with the actors forgetting their lines and the set collapsing."
It refers to a complete failure, especially a public one.
For example:
* "The party was a complete fiasco."
* "The play was a fiasco, with the actors forgetting their lines and the set collapsing."