Firstly, you should understand that there isn't a cat in hell's chance of anything 'FAA' being accepted as an EASA way of doing things. If you thought antipathy towards the UK IMCr was bad enough, anitpathy towards anything 'N-reg' or 'FAA' is many times worse. So forget comparison with the way they do things on the other side of the pond.
'Private privileges only' would, quite rightly, be vehemently opposed by all FIs. So forget that for a game of soldiers, englishal, it'd NEVER be accepted.
It is pretty obvious from various responses on this thread that some come from the PPL/IR mafiosi with their blinkered support for the lunatic 'EIR'. Fortunately many of us in the real world are now working with the authorities both in the UK and in Europe to ensure that the actual UK GA view of such a chocolate teapot rating is made plain to EASA.
There are a couple of strategems, both due to other EC proposals, which may well allow us to demand that this whole issue is be put on ice until the potential effects of these proposals have been properly studied.