Heat the olive oil in a large heavy-bottomed saucepan over medium high heat. Add the shallots and thinly sliced garlic, season with salt and pepper. Cook, stirring occasionally, until the shallots have become totally softened and caramelized with golden-brown fried edges, a solid 15 to 20 minutes.
Add chilli flakes, anchovies, sundried tomatoes and olives. Stir well and cook for a further 4 minutes.
Meanwhile, fill another large pot with salted water and bring to a boil. Add the bucatini and cook according to the package instructions. Save about 2 ladles of pasta water when draining.
Add the cooked pasta to the pan of sauce. Slowly begin to pour in the remaining pasta water and toss to combine with the sauce. Continue adding a little bit of the water at a time to help loosen up the sauce and coat all of the pasta.
Plate the pasta and top with Parmesan and fresh parsley.