In a large pot or Dutch oven over medium-high heat, render the bacon until crispy, about 4 to 5 minutes. While the bacon is cooking, season the beef with the salt and black pepper, then dredge in the flour. Remove the bacon from the pan using a slotted spoon and set aside on a paper-lined plate to drain. Add the oil to the rendered bacon drippings in the pot and once hot, add the floured beef, in batches. Sear the beef on all sides until evenly browned, about 8 to 10 minutes, then remove from the pan. Repeat the process with the remaining beef.
Add the mushrooms. Cook the mushrooms for 7 to 8 minutes, stirring occasionally, and add the onions, carrots, celery, parsnips and leeks. Cook the vegetables for 5 minutes. Add the garlic to the pan and cook for an additional 30 seconds. Deglaze with the red wine and scrape the browned bits from the bottom of the pan with a wooden spoon. Add the beer and scrape the pan again to remove any bits on the bottom of the pan. Add the veal stock, Worcestershire sauce, thyme, bay leaves, allspice and tomato paste. Bring the pot to a boil, and reduce the heat to a simmer.
Cook the stew for 1 1/2 hours, stirring occasionally to ensure that the stew does not stick to the bottom of the pan. Add the potatoes to the pan and cook until the potatoes are soft, about 40 minutes. Stir in the reserved bacon and chopped parsley, re-season if necessary, and serve immediately.
Yield: 3 quarts