Pancetta

n. Italian type of bacon cured from the pork's belly which is seasoned and rolled up

Pancetta is the Italian word for bacon. It is pork  that has been salt cured, salted and spiced (nutmeg, pepper, fennel and garlic are often featured), and dried for about three months (but usually not smoked). There are many varieties, and each part of Italy produces its own type. In Corsica, it is considered a regional flavour.
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n. bacon, thin slices of pork meat

An Italian cured meat made from the belly (pancia) of the big (the same cut used for bacon). It is salted but lightly spiced, but not smoked. You can buy it at Italian delis.