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The film revolves around Hildur, a national celebrity and socialite who has to look for a job when her boyfriend Jolli is sent to prison. She finds a job at Astrópía, a store that sells role playing books and her immersion into geek culture changes her outlook on life.
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.
A mockumentary follows the life of Friðrik as he tries to make women fall in love with them, but when as soon as they confess their love to him he breaks up with them and takes a picture of their reaction.
