Set in present-day Reykjavík, Fiasco draws a narrative circle of interconnecting stories in which three members of the Bardal household deal with the secret loves in their lives. Karl, an old age pensioner, is busy chasing after an amnesic old screen legend. Julia, Karl's granddaughter, is torn between a mediocre bank manager and a wild sailor, and tells them both she is pregnant. But is she really? Steingerdur, Julia's mother, has a wild crush on a preacher who has a serious drinking problem, and ends up with a dead stripper in his Jacuzzi. The characters cross each other as the film progresses, until the three interwoven strands of the story finally come together in an explosive and hilarious crescendo full of surprises.

Fiasco

Stella and Salomon run a business together, framkoma.is. Salomon is hired by Anton Skúlason, pilot, to beautify and transform a village, that he owns. Stella stays in the town and starts teaching politicians how to act for the coming elections. By accident Stella gets involved with the Centrum party, the main rival of the Central party, and before she knows it she's head over heals in politics.