Being a European, from my point of view there's not much sense in this regulation of having to sit in on 14 tests, since the questions in the JAR database focus on phenomenons that are in general the same worldwide, so why would it have to be the main factor to determine whether you are eligible to fly in Europe.
One of the most significant aspects between the continents is the attitude to creating rules, that are far stricter in the EU, which is understandable due to the traffic/land ratio. That's why I think maybe a few flights on the jump seat would in the end be more valuable than taking the theoretical tests.
That's just my opinion
