There is alot of Pay to Fly bashing going on in this forum and many are very hard with your comments regards to "paying for experience" but forcing pilots to complete 1500 hrs on their own before they land their first job is not a problem? Flying in Europe is significantly more expensive than in the USA and with rates from 120 to 150 EUR an hour for a C172 it is impossible to gain hours that way.
Instructing or dropping Skydivers - fine, if you can get such a job!
Apart from that I don't see any good reason why fresh cadets cannot be trained properly and be in the right seat of an Airliner with around 250 hrs.
Many respected Airlines in Europe like Lufthansa, Air Berlin, KLM, Condor, Luxair, Austrian, Swiss, etc do it that way for ages so why not.