Preheat the oven to 190°C. Brush a 23cm diameter, ovenproof dish with a little olive oil.
Place the bacon or prosciutto in a layer covering the bottom and up the sides of the dish.
Arrange the potatoes in a layer close together over the bacon. Sprinkle the garlic, parsley and thyme over the potatoes.
Place the capsicums in a single layer on top of the potatoes.
Beat the eggs, stock, vinegar and paprika together, and season with salt and pepper.
Pour this evenly over the capsicums.
Scatter the olives evenly on top.
Place in the oven and bake for 35-45 minutes or until set.
Serve in wedges with a sprinkle of parsley.