Season the meat with salt and pepper. In a medium-sized dutch oven, heat 1 tablespoon of olive oil and brown the meat evenly on all sides. Remove from the pot and set aside

Add the remaining ½ tablespoon of olive oil to the pot and saute the onions and garlic until fragrant and translucent, about 1-2 mins

Pour the wine in and deglaze the pot, scraping the bottom to remove all the brown bits and pieces stuck to it. Pour in the beef broth, French onion soup, Worcestershire sauce, bay leaf, and thyme. Return the beef to the pot and bring it to a boil. Reduce the heat and simmer (with the lid on) for 2 hours or until the beef is tender

Once the cooking time is over, make a slurry with the water and cornstarch and add it to the pot. Continue cooking for about 5 more minutes or until the gravy has thickened. Adjust the seasoning with salt and pepper if needed. Serve with freshly chopped parsley on top.