lumbalund - as has been stated many times... an FAA license is not worth the license it isn't printed on in Europe. The costs of conversion are higher than that of gaining the orginal JAA license. No amount of cheap training is therefore worth it. Even if you have a green card - you'll still be hauling regional turborprop when your EU contemporary will be flying a jet. Not to say one system is better than the other BUT its a fact that the JAA/EU system is higher cost BUT potentially higher reward.
Cheers,
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