Wipe the meat with kitchen paper to absorb excess moisture. Stir in a bowl 3 tablespoons of flour, 1 teaspoon of salt, paprika and pepper and sprinkle the meat with the flour mixture.
Sautee the meat in hot olive oil in moderate to strong heat, stirring frequently, for 4-6 minutes or until it acquires a golden brown color. Remove the meat from the pot. Add the red wine, stirring well to incorporate with the meat residues from the bottom of the pot.
Put the meat back in the pot and add the broth, thyme, bay leaf, and 1/2 teaspoon of salt.
Once it starts boiling, cover the pot, lower the heat in half and allow the meat to cook for about an hour, stirring occasionally. You can accompany your meat with wild rice.