Peel and dice onions and garlic. Peel carrots and cut into thick slices. Slice olives in half. Peel potatoes and cut into small cubes. Heat oil in a pan, brown stew meat in portions. Once browned take each portion out of the pot and set aside. In the same pan, saute onions, garlic, potatoes and carrots for 2-3 minutes while stirring. Add meat back into pan, season with paprika and cumin and cook briefly while stirring.
Add tomato paste and red wine. Bring to a boil. Add broth and season with salt and pepper. Add thyme and simmer over low heat with lid on for approximately 1.5 hours. If required, add more broth or water. Stir in olives and crème fraîche and cook an additional 10 minutes. Once again, season with salt and pepper and serve garnished with parsley.