La pacchia è finita is a famous phrase in Italian. It means that the fun has ended, the party’s over, and it’s time to return to a less fortunate or less relaxed state or situation.
The phrase centers around the word pacchia, which means a state of ease, or living without preoccupation or worry. Basically, the good life, one devoid of problems. Che pacchia! is like saying, “piece of cake!”
There are a couple of ideas regarding the etymology of pacchia:
1- From the Latin pacho, meaning a fat pig
2- From the Latin spalancare, meaning to open wide, as in your mouth.
In both cases there is a connotation of something large, spacious, or wide. I like to think of it like spreading out on a bed, taking up all the space, not having a care in the world.