I tend to agree that any Bi Lateral will not be a straight swap or even anything which will water down the training structure already in the EASA system.
A Bi lateral agreement could be shared authority over N reg aircraft based in Europe.
The complaint of EASA revolves around not having oversight/control over N reg so a Bi Lateral in that sense would work.
Sadly all this Rubbish churned out of EASA has cost 300 million Euro.
EASA had the opportunity in this rewrite of bringing FAA, Canada, much closer together where a proper Bi Lateral was possible! Using the FAA structure they could have achieved a result which would have cost a fraction of the price and achieved uniformity ....But ???
So sadly a missed opportunity which could have decomplicated aviation in Europe and reduced costs.
I tend to agree with Bose that self interest has driven the structure we are faced with and self interest towards the regulators themselves rather than the safety issues EASA are supposed to protect.
Pace