The DGAC recently investigated the possibilities to do this and were not supported by their own aviation industry (TBMs not certified other than in France and US)
That is the word on the street.
These 'rumours' come up with a monotonous regularity.
It would be churlish to deny that in the aviation land as a whole there would not be pressures to 'rectify' the situation.
Unfortunately it may be easier and more 'convenient' to tighten
up regulations than take a good look why there are people choosing to operate under a 'foreign flag' and be proactive about these matters.
A lot of people are happy to blame the authorities for regulating things but at the end of the day that is their raison d'etre and they are trying to do the best they can within the parameters set by us as a society.
Not sure whether the tale of the inproperly registered machine is contributory to the debate as that was obviously someone who was not playing by the rules. I would certainly be unhappy if it was infered that this means that people flying N registered aircraft were somehow cowboys breaking the rules or looking for an easy way out.
For starters people flying on non G aircraft have not only to oblige with the CAA rules when operating but also the FARs.
FD