Heat the olive oil in a large skillet over medium-high heat.
Add in the shanks and brown on both sides (this should take about 10-12 minutes).
Transfer the browned shanks to a bowl.
Add in the onion, celery, rosemany, oregano and 10-12 minutes or until the veggies are golden.
Add in the garlic and saute for 1 minute.
Add in the tomatoes with juice, water, broth and wine and return the lamb back to the pot (pressing the lamb into the juices with a fork or spoon) bring to a boil, reduce heat to low, cover and simmer about 2 hours or until the lamb are Just tender.
Add in the potatoes, carrots, olives and parsnips and simmer for another 30 minutes, or until tender.
After the 30 minutes of cooking season with salt and pepper.
Using a slotted spoon remove the lamb and veggies to a large platter.
Boil the juices for about another 5 minutes or until thickened, season again with black pepper.