...and if airlines maintenance become lax and in-flight shut down occurs the external governing bodies FAA JAA CASA etc remove etops or...
I'm sure they would, but "lax maintenance" is an airworthiness matter, whereas ETOPS is concerned with reliability. A quite different matter altogether.
In rather simplistic terms, ETOPS is based upon the reliability monitoring program. If the reliability program reveals that the IFSD rate has exceeded a set value, the ETOPS rating is automatically downgraded and the engineering department will report this to the FAA/EASA/CAA/DCA/DGCA or whatever body applies. (In fact a representative of the regulatory body often sits as a member of the reliability committee.) The regulator will then monitor the corrective action (service bulletins etc.) taken and grant restoration of the ETOPS rating only when it is satisfied that the required reliability level is restored. It is worth noting that not only engine reliability is taken into account; system reliability is also monitored.
If an airline violated the ETOPS program by failing to report a reliability shortfall, I'm sure the sanctions would involve more than mere removal of an ETOPS rating. As would be the case in the event of "lax maintenance"
I had sharp and rude words about this on another forum far to the east of here recently!