Don't expect the Europeans on these boards to be very inviting - everyone is scrambling for jobs here too. Of course you will need to convert to JAA and it will cost money. You might need some PIC jet time to be competitive at BA and VS even with the conversion. Don't expect the living conditions to be much cheaper over here either - it is very, very expensive and taxes take a lot of quid out of your pockets.
I'd say stay in the States if I were you and build time in preparation for a career at Southwest or AirTran. Again, don't expect Europeans to welcome you with open arms (especially on these boards).
Good luck!