Preheat oven to 450 degrees F. Brush olive olive oil on one side of each bread slice. Place bread on baking sheet and bake until light golden brown, about 8-10 minutes. Set aside.
Preheat broiler. Heat remaining olive oil in medium skillet over medium heat and sauté sausage until lightly browned. Add garlic and sauté 30 seconds. Add paprika and sauté 30 seconds. Stir in tomatoes and peppers and cook until heated through. Divide mixture among 4 (1-cup) shallow oven proof dishes. Sprinkle with cheese. Place on baking sheet and broil until cheese is melted, about 1 minute. Serve with baguette slices or crackers.