Put a large casserole or pot over medium heat and drizzle in the oil. Add the bacon and cook for 5 minutes until crisp, tossing and stirring frequently. Remove the bacon with a slotted spoon to a plate on a paper towel and keep aside. Preheat the oven to 130 degrees C.

Dry the beef with kitchen paper towel and season generously with salt and pepper. Add the beef to the pot with the bacon fat in batches and sear until browned on all sides. Keep aside.

Put the garlic, carrots, tomato paste, mushrooms and onions, 1 teaspoon of salt and ½ teaspoon of pepper in the pot with the bacon fat on medium heat and sauté for 5 minutes, tossing occasionally, until lightly browned. Add the tomatoes and cook for 5 more minutes.

Return the meat and its’ juices to the pot. Add the wine and the beef broth to almost cover the meat. Add the herbs (rosemary, thyme, cinnamon, bay leaves), bring to a simmer, cover the pot tightly with a lid and place it in the oven for about 2 ½ hours.

When the meat and vegetables are tender when pierced with a fork, stir into the stew the bacon. Taste and if necessary, season with salt and pepper. Return the top to the oven and cook uncovered for 45 minutes longer stirring once or twice.

Transfer to a serving bowl and sprinkle with the chopped parsley.