Yes, in Europe you can take the ATPL during flight training with 200/300 hours flight, then you can fly a big jets with type rating. Some airline companies (like wizzair) hire pilots also with 200/300 hours flight expirience. Have you seen the link?
Altough Europe has usually tigher regulations for everything, is not like that for aviation, FAA is tighter than EASA.
I can’t understand the question for captain and FO.
For becoming a captain it depends airline regulations, with Wizzair you can become captain fast like 2/3 years as first officer. For easy jet they requested 7 years as first officer (if you start everything with them)