. . . erm, an EASA licence is valid for non-EASA aircraft (at least in the UK.)
I believe this is too short sighted. EU/EASA regulations are not issued by a state named EU, but a country being part of the EU. As far as I remember, i.e. a N-reg plane flown in EASA airspace can be piloted with an EASA license, but only in the country the EASA license was issued. If you fly a N-reg in the UK, but have an Italian EASA PPL, you have to have a FAA validation for foreign license. Am I correct?
yes, this is correct, we know someone who had this problem, resolved by getting an FAA licence.