Thanks for your thoughts so far.
In order help clarify the position, in some evidently muddy waters, maybe I could ask about a 'hypothetical' case...
N reg bizjet, operating under a flag of convenience, whose only presence outside Euroland is the required Delaware trust.
Captain, obviously type rated, FAA ATPL only. Copilot, SIC rating, FAA CPL/IR only. What does the post April 2014 future hold for these two?