Not correct, at least my european license (IR)remains valid while i work for an airline overseas.
However the type rating expires after a year but can be reinstated after a jaa skill test in sim of such type.
Wrong! If you don't keep current you will loose it all after seven years. Flying outside of easa will not count.
It has always been the case that a European license was more difficult to obtain, the Americans make it easier to get an initial license but regulate things in a different way. No real change!