Beef Short Ribs with Carrots

12oz bacon, cut into lardons
5lbs beef short ribs, cut in 2" lengths
1 bottle red wine
5cl garlic, minced
1lb frozen pearl onions
3Tb AP flour
3oz (1/2 can) tomato paste
2lbs carrots
1Qt beef stock
1ts pepper
1ts salt
1 bunch fresh thyme
2 bay leaves

Serve over mashed potatoes