Believe there may be moves in the works (from JAA?) to require periodic returns to FAA territory due to the sheer number on N registrations that live in Europe pemanently.
Nothing definite, just what I've heard.
Keep munching that Schnitzel and drink a beer or two.... no such thing. What IS happening, is that EASA are proposing a dual-licensing regime within the EU. I.e. if you wanna fly an N-reg in Europe, you need both (FAA & EASA) licenses. Will mainly hit IR & CPL guys. Endless threads over in the Private Aviation forum.
JAA strictly speaking doesn't exist anymore, its EASA now. All very complicated (well, this is f*cked up Europe after all!).......