1 Cut the meat into generous 2-inch pieces, as they will shrink during cooking. In a heavy-bottomed pan, heat the olive oil over medium-high heat. When it is hot, add the meat, in batches, and brown well on all sides, about 10 minutes. Using a slotted spoon, transfer the meat to a plate and set it aside.

2 Add the onion and garlic to the oil remaining in the pan, reducing the heat to medium, and sauté just until barely translucent, about 1 minute. Add the tomatoes and stir to scrape up any bits clinging to the bottom of the pan. Return the meat and any collected juices to the pan and add the thyme, bay, and pepper. Bring to a boil over medium-high heat, then reduce the heat to low, cover, and cook until the meat is tender enough to be cut with a fork, 1½ to 2 hours.

3 Add the green peppers and continue to cook for 10 minutes. Then add the olives and cook until the peppers are tender and the olives have released their flavor, about 5 minutes longer.

4 Spoon onto plates and serve at once.