In a medium bowl, whip together butter, blue cheese, garlic, parsley, salt and pepper until evenly mixed and creamy.
Slice the Italian bread in half lengthwise, and place on a baking sheet.
Evenly spread the butter mixture out on each slice of bread and sprinkle with Parmesan cheese. Broil on low until cheese is melted, bubbly, and starting to brown (about 7-10 minutes). Remove from oven, cut into slices, and serve.