Heat a large, deep skillet over medium high heat. Cook the bacon until evenly brown. Drain, crumble, and set aside. Be sure to save 2 tablespoons of the bacon fat to cook the lamb.
Place the flour with a little salt and pepper in large mixing bowl. Add the lamb to the flour and toss to coat meat evenly. Brown the lamb in the bacon fat until the lamb is brown on all sides. Remove the lamb from the pot and set aside.
Add the onion to the pan and saute about 10 minutes or until onions are translucent. Add the garlic and saute another 5 minutes. Add the wine to the pan and turn the heat to high. Scrape up all of the brown bits from the bottom of the pan. Simmer for 2-3 minutes. Add the beef stock, lamb, bacon, rosemary and thyme, bay leaves reduce heat to low. Cover and simmer for 1 1/2 hours.
Add the carrots and potatoes, and simmer covered for 20 minutes until vegetables are tender.
Serves 4-6.