Heat the olive oil in a skillet over medium heat. Stir in the garlic, onion, and jalapeno; cook and stir until the onion has softened and turned translucent, about 5 minutes. Add the bell pepper and tomatoes.
Cook the vegetables until the tomatoes have broken down and released their juices, about 10 minutes. Stir in the sweet paprika, hot paprika, salt, and pepper and let the mixture simmer for 3 minutes. Add the tomato paste and water and mix well.
When the vegetables have a sauce-like consistency, add the saffron and parsley. Crack the eggs on top of the sauce (as though you're making sunnyside-up eggs); cover the pan and let the eggs cook for 10 to 15 minutes or until the yolks reach your desired consistency.