Peel, wash and thinly slice the potatoes. Fry the bacon cubes in a pan without fat at medium heat. Put some of it aside for sprinkling. Add potatoes to the bacon and fry for 12-15 minutes, turning occasionally.
In the meantime clean, wash and cut the peppers into small cubes. Add the diced peppers to the potatoes 5 minutes before the end of the frying time, except for a little bit for sprinkling, and fry with them. Season with salt, pepper and paprika.
Mix eggs and milk, season with salt and pepper. Pour over the potato-paprika pan and let it simmer at low heat under closed lid for 15-20 minutes. Turn the tortilla out of the pan and put it back into the pan to serve.
Heat the oil in a pan and sauté the remaining diced peppers briefly. Sprinkle over the tortilla together with the bacon cubes that have been set aside. Coarsely grate the feta cheese and spread it on the tortilla.
Cut the tortilla into pieces. Arrange on plates and serve garnished with tomato slices, onion sticks, olives and oregano.