Sawaya, I can not understand your reasoning. You say that you could go home and get a job straight on a 738 with paid rating and with T&Cs at least on par with any European carrier. Starting salary here in Orange land is 38,158 plus about 7,000 pounds flight pay which adds up to around 45,000 pounds p.a. Even with the current, horrible exchange rate 58,500 euros gross. Assuming that you pay less than 50% tax, you would still get 30,000 euros net p.a. in your country. According to you, you can buy a mansion with 30,000 euros, but yet, you claim that quality of life is low there. How does this add up?
Furthermore, if it is that easy for you to get a job back home, why don't you just go there for a year or two, get 1-2,000 jet hours and then move to Europe? Somehow, I feel you're not really painting an accurate picture of the situation.
The flag carriers still pay for ratings here in Europe.