In a heavy pan or Dutch oven, heat butter and brown the beef over high heat. Add garlic, bay leaves, cinnamon and allspice; stir well.
Add tomato paste, red wine and one cup water.
Meanwhile, in a skillet, sauté the onions in olive oil until golden brown. Then drain them on paper.
Add onions to the meat, cover and simmer 2 - 2 1/2 hours on very low fire until meat and onions are tender.
During the cooking process, sauce should cover the meat at all times. Add more water if necessary.
Sauce should be thick when ready to serve.
This is best accompanied by a green salad, slices of feta cheese, a crisp bread and red retsina wine.