French Beef Stew in Red Wine

Name: French Beef Stew in Red Wine
Cuisine: European, Mediterranean, French
Ingredients: 1 kg beef chuck, cut into 2-inch cubes; 150g bacon, diced; 2 medium carrots, sliced; 2 medium onions, finely chopped; 3 cloves garlic, minced; 1 tbsp tomato paste; 2 tbsp all-purpose flour; 500ml full-bodied red wine (preferably Burgundy); 250ml beef broth; 2 bay leaves; 1 tsp dried thyme; 200g button mushrooms, quartered; 150g pearl onions, peeled; 2 tbsp butter; Olive oil, for browning; Salt and black pepper, to taste; Fresh parsley, chopped (for garnish)