Take beef out of the refrigerator 30 minutes before starting. Chop beef into ¼ inch cubes, sprinkle with salt and pepper. Heat olive oil in a large Dutch oven over medium high heat. Once hot, add beef in a single layer and cook for 3-5 minutes, stirring a couple of times to brown all sides.

Add chopped onions, carrots and celery and cook over medium heat stirring frequently until the onions are slightly softened, about 5 minutes. Add garlic and tomato paste and cook another 2 minutes.

Add beef broth, water, barley, Worcestershire sauce, paprika and bay leaves. Bring to a boil and reduce heat to medium. Let it simmer, stirring often to keep it from burning, add more liquid if needed. Cook until the barley is tender, about 45-60 minutes. It will get very thick. If you want it more soup like then stew, add more liquid as it cooks. Remove bay leaves. Top with thinly sliced red onions and serve.