Remove any bits of fat from the meat. Heat the oil in a large pot over medium-high heat. Saute the meat in the oil for 10 minutes, or until browned on all sides. Remove meat & set aside for later.
Add the onion & tomato paste to the pot & saute over medium heat for 5 minutes, or until onion is tender, stirring often. Return the meat to the skillet along with the beef broth, combining with the onion & tomato paste mixture. Reduce heat to low, cover & simmer for 1 to 1 1/2 hours, or until meat is tender.
Add the carrots, potatoes, rosemary, thyme, bay leaf & crushed red pepper flakes & simmer, covered, for another 45 minutes. (Note: it may be necessary to add some water if the stew seems too thick).
Finally, add the mushrooms & the peas – allow the stew to heat through, about another 10 to 15 minutes. Remove bay leaf & rosemary sprig before serving.
