Ex Pat and GG,
The insurers are the effective controlling body. Their actuarial statisticians and analysts will give an enthusiastic thumbs up to a Lufthansa and an effective no, through pricing, to another flag carrier. They will even go to the extent of accepting cadets but only with the quid pro quo of insisting a set minimum proportion of ex pat left seaters (and even sim trainers for some companies) which covers the situation OXP mentioned.
In some cases this is masked from us by the intermediary effects of leasing. You get your new airframes but pilots from the builder arrive with the airframe and stay for many months. In other cases I know of ETOPs flights have only been initiated with senior pilots from another company with proven, long term experience in the jumpseat for an initial period.
Given the changes apparent to many of you I'm suprised by absence of comment on the bootstrap effect this will have over time regarding terms and conditions in GA. I can only assume the 'conditioning' and paucity of expectation is very deep rooted. One way or another operators are facing extra costs whether increased premiums and training or keeping the best. They will, however, try to dump those costs on you for as long as they can get away with it.
Rob