Cook the linguine in a large saucepan of boiling, salted water until 'al dente'; usually 8-10 minutes.
Meanwhile, heat the olive oil in a large frying pan over a moderate heat and saute the garlic and pancetta for 3-4 minutes, stirring occasionally. Add the peppers and reduce the heat a little, continuing to stir from time to time. Drain the linguine when ready and reserve some of the cooking liquid. Add the pancetta and peppers mixture to the pasta and toss well, adding a little of the cooking liquid to moisten.
Season to taste. Transfer to serving plates and garnish with the sliced black olives. Finish by garnishing with a sprig of parsley. Serve immediately.
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