Adam F...
I flew in north America for several years mate - before that I had a UK PPL in the UK but ultimately gained a Canadian CPL/ME/IR and worked there.
I now work back in Europe and converted to the JAA (EASA) CPL/ME/IR. I went into it eyes wide open, and yes it cost me a significant amount. Its no good complaining about it - as others have said, it is what it is, its perfectly clear what is required. You have a choice.
As for flying on type in Europe (your C208) there is a significant difference in (rather complex) procedures in EASA land (largely due to an umbrella structure that encompasses many different countries, languages etc) and this needs to be instructed. It was way easier to take my old licence to Canada than vice versa.
Granted EASA is bureaucratic and expensive, but it is what it is.