> The only security difference between signature and PIN is that PIN protects your card from being used by muggers
Absolutely not true. It totally protects my online banking. All banks I know of in the EU provide their customers with what is called an e.dentifier ABN AMRO example here (PDF). Even if my PC gets hacked, they will not be able to access my online banking, because the device requires my card AND my PIN, and generates a login token. This has been in use for many years, and is much more secure than anything I've seen in the US.