Traditionally made for bottling Chianti, the style of glass vessel from Tuscany with a rounded body and wrapped tightly in a straw basket—designed for ease of transport (see also), cushioning the wine and stackable with inverted bottles fitted into a row of upright ones—over the centuries became subject to various regulations to discourage counterfeiting and filling used bottles with new wine by fiascaio (fiasco-makers) resulting in substandard containers, hence bare from the shoulders up to show the vintner’s label and seal. 
The etymology in English usage for failure or scandal was perhaps transferred via the French faire fiasco from Italian theatre jargon for botching a scene—to “make a bottle—a glassmaker humiliated when an intended more elegant piece didn’t come together and they settled with the simpler but utilitarian form. The sense could also come from card play in which the loser having to buy the next round of drinks. Fiaschi are mainly nowadays for decorative purposes or souvenirs, the Bordeaux-style of bottle (bordolese—see previously) becoming more popular with automation and easier to manufacture.
synchronoptica
one year ago: an epic murder-mystery puzzle book (with synchronoptic) plus US women allowed to wear pants in public
seven years ago: more customary units plus the EU bans plastic drinking straws
ten years ago: the US special envoy to Britain during WWII
thirteen years ago: American propaganda turns inward
fourteen years ago: extraterrestrial prospecting
