Preheat oven to 325 degrees F. Season the veal shanks with salt and pepper and then coat in flour, shaking off excess. Heat oil in a skillet set over medium-high heat. Add veal, brown on all sides, and then remove and place in a casserole.
Combine remaining ingredients in a bowl, and then pour over veal. Cover and bake 2-2 1/2 hours, or until very tender.
Start the risotto 30-40 minutes before the Osso Bucco is done. To make it, heat oil in a pot set over medium heat. Add onion and cook until tender. Add rice and cook, stirring, until it achieves a nutty, toasted aroma, about 2-3 minutes. Add wine and saffron. Adjust temperature so that the liquid gently simmers. Cook until the wine is almost fully absorbed by the rice. Add 1 cup of stock, stirring and cooking until is almost fully absorbed. Add remaining stock 1 cup at a time, cooking and stirring until it is almost fully absorbed each time. When the rice is tender, remove from heat and stir in parsley, Parmesan cheese and salt and pepper to taste. Serve Risotto alongside the Osso Bucco, garnished with sprigs of Italian parsley.