How to Make It
In a medium enameled cast-iron casserole, heat 2 tablespoons of the olive oil. Season the monkfish with salt and pepper and cook over moderate heat, turning, until light golden, about 3 minutes. Using a slotted spoon or tongs, transfer the monkfish to a plate.
Add the remaining 2 tablespoons of oil and the shallots to the casserole and cook over moderate heat, stirring occasionally, until softened, about 2 minutes. Add the carrots and cook, stirring occasionally, until light golden, about 5 minutes. Stir in the thyme, saffron and wine and cook until reduced by half, about 1 minute. Add 1/2 cup of water along with the monkfish and any accumulated juices. Bring just to a simmer, cover and cook over low heat until the vegetables are tender and the fish is cooked through, about 15 minutes. Spoon the stew into shallow bowls, garnish with basil and serve with potatoes.