Preheat the oven to 325 degrees F. Use a paper towel to pat the veal shanks dry. Generously season with salt and pepper and wrap each shank in twine (optional: this is to ensure they keep their shape while cooking).
Add flour to a large bowl and dredge the shanks, lightly tapping off any excess flour.
Place a large pot or dutch oven on the stove over medium-low heat. Add the bacon and allow the fat to render and for the bacon to become crispy. Remove the bacon and increase the heat to medium high. Add 2-3 shanks to the pot and sear on both sides until browned. Remove from the pot and set aside. (If pan becomes a little dry, add a drizzle of olive oil.)
Then add carrots, celery, and onion. Season with salt and pepper. Cook until onions become slightly softened, about 5 minutes, then add the garlic and tomato paste and continue to cook for an additional 2 minutes.
Pour in the red wine, beef broth, crushed tomatoes, bay leaves, thyme, and rosemary. Stir together and place the beef into the broth, ensuring that it is submerged. Bring to a boil and boil for 5 minutes.
Cover with a lid and braise in the oven for 2 ½ hours. Remove the lid and continue to cook for another 30 minutes. Season with salt and pepper to taste. (Alternatively, you can also reduce the heat to low and simmer on the stovetop for 2-3 hours, until the meat is fork tender.)
Notes
Make sure and use an oven-safe pot with lid when you start the dish!