RedBull - I think you are way off the mark. The cost of living may be cheaper in Eastern Europe; however, if you want to live by western standards you will find that accommodation of that standard has a high premium on it and as a result you have to pay a comparable sum regardless of location.
I think Wizz Air and CTC are directly to blame. They take advantage of someone willing to sign up to this scheme putting them in a difficult financial position. This directly affects flight safety, any pilot in this position will not be calling in sick to miss out on flight pay/salary.
Will they be well rested in suitable accommodation, well fed and in a fit state of mind to fly. With such huge financial pressures I'm sure you will agree it's questionable!