Heat the olive oil in a big pot and sear the meat. Stir to get all the sides of the beef.
Add the vegetables (omit the potatoes), stir. Let it brown a short while. Add the tomato paste, stir and add the red wine and the spices. Close the pot with the lit and let it simmer until the red wine is nearly all gone, about 45 minutes.
Meanwhile clean and peel the potatoes and dice them.
After the 45 minutes add the beef broth and the potatoes. Bring to a boil and then again on simmer, another 30 to 45 minutes.
At the end of cooking time the meat should be very tender. Add additional spices if needed.