Warm the olive oil in a medium pot over medium heat.
Stir in the minced garlic and cook until fragrant and lightly golden, 1 to 1½ minutes.
Bloom the smoked paprika and red pepper flakes in the oil for 30 seconds.
Add the torn bread and toss to coat; toast, stirring, for 2 to 3 minutes.
Pour in the broth and bring to a lively simmer. Cook until the bread softens, about 10 minutes.
Season with salt, black pepper, and the dry sherry or sherry vinegar. Taste and adjust.
Reduce heat to low. Stream in the beaten eggs while stirring to form silky ribbons; simmer 1 minute.
Finish with parsley and serve hot.