But I think you will find this has been dissected here and elsewhere previously and is not what it seems, once one reads all the referenced documents.
Was it discussed in a thread on here? I must have missed that. The NPA and CRD don't give much detail I admit but where in all the EASA publications does it lead one to believe that it's not what it seems?
I agree from the information available at the moment it is not clear exactly what an FAA IR has to do to fly N reg in the EU, but it would appear from a FCL point of view they have given thought to a conversion process. Whether or not one can carry on with one's FAA IR surely rests on whether N reg will still be allowed to be based in the EU; EASAs thoughts on this seem less clear...
Sorry IO540 I've just found the threads you refer to, I'll give them a read...