Heat the chicken stock in a pot.
In a medium sized casserole or skillet large enough to hold the bread, heat the olive oil and sauté the garlic cloves on medium-low heat, stirring until they are golden. Remove the garlic cloves and sauté the bread in the seasoned oil, stirring well to make sure the bread is coated. Cook until the bread is golden brown and toasty.
Lightly crush the garlic cloves some more with a fork, then add to the broth. (Note: if using commercial broth, strain out the onion, bay leaf and thyme before adding) Add bread, paprika, sherry and salt to taste.
Bring all to a boil, then reduce heat to medium-low and simmer without boiling for 20 minutes. Occasionally stir the soup briskly with a whisk to help break up the bread and thicken the soup.
Crack each egg individually into a small bowl. Just before serving, bring the soup back to a strong simmer and carefully pour in each egg so it rests on top of the soup, taking care not to break the yolk. Cover the pot, lower the heat and poach the eggs gently until the whites are firm, but yolks are not hard, about two minutes. Serve in bowls with an egg in each and garnish with parsley.