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Cook the bacon in stockpot or brazier over medium-high heat until crisp. Remove the bacon from pot with a slotted spoon and drain on paper toweling. Pour off all drippings into a heat-proof container. Return 1/4 cup of the reserved drippings to the pan.
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Add onion and garlic; sauté 3-4 minutes until soft and just beginning to color.
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Add spinach; sauté 1 minute, stirring constantly to prevent the garlic from burning.
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Add Pernod; cook just until spinach is wilted. Add bacon back to the pot. Cook one minute to burn off the alcohol.
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Stir in cream; reduce the heat to simmer, and continue to cook until cream has thickened, about 2-3 minutes.
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Stir in cheese and mix until it has fully melted, and you have a cohesive sauce.
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Season to taste with salt and pepper; keep warm.
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Portion 4 ounces spinach mixture into each of 12 greased ramekins or low-sided individual baking dishes. Top each with 2 poached eggs and sprinkle with 1 1/2 tablespoons of breadcrumbs. Brown crumbs under broiler. Garnish with watercress, if desired. Serve immediately.