I fly as a Captain on a multi crew jet and hold the licenses and current type rating to do so it just happens to be FAA Hence the suggestion of a restricted ATP so that any conversion is not seen as a back door EASA ATP. there would have to be a certain amount of Grandfathering rights in achieving this but it would be easy for EASA to do
Pace, you missed my point - if the rules come in to play and you are required to have an EASA licence what you would need is to be transferred / grandfathered on to a "restricted CPL" not a "restricted ATP".
I'm just commenting on what is required in terms of licencing and what might be politically easier to achieve rather than on the rights and wrongs of the situation. You don't need an ATPL or an ATP for the type of flying you do so why suggest that it is the solution rather than a CPL?