Fry the onion in the olive oil for about 5 minutes until softened. Add the garlic and fry for a further minute.
Add the chopped peppers and cannellini beans and fry for a minute, then add the chopped tomatoes, stock, tomato paste and chilli flakes. Stir to combine, bring to a gentle simmer and cook for about 1 hour, or until thickened.
5 minutes before the end of the cooking time add the olives to the stew.
Stir through the chopped basil, season to taste and serve in bowls topped with some grated parmesan and with hunks of crusty bread.
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