|In a large saucepan, over high heat, fry bacon. Add beef that has been rubbed with salt and pepper. Brown on all sides thoroughly. Add onions and fry until well browned, stirring constantly. Sprinkle thyme leaves over beef and place bay leaves on top.|
Pour in red wine and stir to loosen solids from bottom of dish. Heat stock in separate pan, then pour into dish. Cover and simmer over low heat for 90 minutes, turning beef occasionally. Season sauce generously with salt and pepper.
Add potatoes and carrots. Cover and simmer for an additional 30 minutes or until vegetables are soft. Discard bay leaves.