...stay in this country till things pick up and then get a decent airline job.
I understand your predicament, but there area couple of assumptions you might want to challenge before you go for option 3:
1) "a decent airline job" - who, pray, will be offering those if they know they can fill their seats with pilots willing to work for peanuts? How long will it take for things to 'pick up' such that there are no more unemployed pilots and airline are expanding again? 2 years? 5?
2) "stay in this country" - have you seen easyJet's policy on relocating pilots? "Sorry, you're redundant in x base, you can go to Y or leave". bear in mind this is happening
during a period of net fleet expansion. I would suggest that job security at EZY is even less than you might assume, even more so if
they get to decide how much they want to pay you each month.
Talk is cheap, I know, but I have a family in the UK, and would probably still take option 1.