Mickey Mouse
ICAO license is a license issued an ICAO contracting state. It is not a "Mickey Mouse" License rather it is not a JAA ATPL or a CPL. Thus working or applying for an European operator ,preference is being given to those that have the correct license.
JAA, Canada, Australia, New Zealand and many many more countries issue a fairly standard ICAO licenses, however FAA has many differences from ICAO Annex 1 (Personnel Licensing) to be really considered one.