To Sidstar
There is a huge difference on the theoretical syllabus and on the Flight training between the European System (JAA) and the FAA system. As you have noticed Major US Airlines recruit experienced pilots (+ University diplomas in Aviation or US AF well trained pilot), the only US experience of AB-Initio cadets was in 2000 but has been interrupted by the events of 09/11 and it appears it was not very successful.
Yes there is an European know-how, quite sophisticated and formalised in the JAA licence. So, before comparing Low Hours cadets, you have to take into account also this important difference in standards. Also, the failure rate is quite high in Europe, in some Asian countries, such a failure rate is not acceptable as per cultural environment.