Hungarian Goulash

Name: Hungarian Goulash
Ingredients: 1.5 Kilograms gravy beef – cut into 1 inch pieces; 3 tablespoons olive oil; 3 tablespoons olive oil (another); 2 large onions – chopped roughly; 6 garlic cloves – skinned, bruised and left whole; 1/4 cup smoked Spanish paprika; 1 teaspoon salt; 1 teaspoon ground black pepper; 1/8 teaspoon cayenne pepper; 2 sprigs fresh thyme; 6 medium carrots – peel and cut in half; 2 medium parsnip – peeled and chopped into large chunks; 2 tablespoons tomato paste; 2 cups beef broth