Interestingly Global Global I agree with your point about low hour jet FO's and pay to fly pilots. It shouldn't be allowed in Europe especially when they have just a couple of hundred hours total when let loose on heavy jets.
But I hate to break it to you it's been going on for many years though in EASA land, with the low cost airlines, pilots on zero hour contracts and paying for their type rating. Many are known to be on the breadline, and many examples of European Airlines can be given. All of these pilots have EASA licences and you only need to conduct a short forum search about how much pressure they feel they are under, and how much pressure more importantly the person in the left seat is under having to fly with them. I read that pretty much it's like flying as single crew for these Captains, tail strikes are common for example along with many other safety issues, these low hour wannabes simply don't have the correct experience levels. Their company SMS certainly doesn't help with their problems. The root cause being greed of the Airline in question and the young wannabe trying to sidestep the proper experience levels.
Going back to corporate the problems remain even with your gold plated SMS / Ops manual / EASA licence that you think solve all problems.
I don't believe that they do as they currently and consistently fail to provide any form of additional safety for these European based bargain basement cut costs to the knuckle AOC ops (there are many) or worse AOC umbrella ops that stick their crews in substandard hotels, constantly flaunt FTL's and either don't put their crews through sim (basic LPC) or ensure its the cheapest and shortest sim course available.
Private Ops generally have a better safety record than the above, the argument that an SMS / Ops manual will improve an already decent and better safety record from bargain basement AOC ops (which most are) these days is flawed. However, I am sure that the high total hours flight time experienced corporate pilots such as Pace etc will implement the SMS / Ops manual should the needless conversion to an EASA licence be completely shelved. But EASA cannot have both, as he rightly states the EU precedent of being allowed to fly in Europe on non EU licences was set years ago, the lawsuits will follow should this right to work cease.