I'm based in Italy as an F/O with easy taking home 5500-6200 euros per month. The present workrate isn't sustainable though, I've been here for 2 years now, and with easy for 4 in total, its bloody tiring! I dont honestly think you could count on working a full career in low cost.
As an aside the present sterling/euro rate is very flattering to a euro salary. However, if you work out here you pay bills etc in euros, also who's to say where the rate will go in future?
just my 2 cents, euro cents obviously