Read Lasors part F-10
There are guys that have the 500h experience abroad and getting the JAR ATPL reconversion.
Coming on the market with both experience and European Theory's still possible for those who went abroad to get experienced.
Of course, if the companys are looking for nationals that stayed around, they'll have to drop down a bit on requirements as guys that don't move around to get experience won't be experienced...
But what European companies look for is experienced people. They pay for that level and are searching for it... So definitly if you are a 0 time, It might be a good solution to move outside europe to pick up a low paid 0 time job to come back with the experience few years after....
That's basically what i'm doing now!
But it's certain that requirements will drop if there's a lack of experienced pilots, but not to the point of taking all the crowd of 0 time pilots....
tyfilou