Back across the Atlantic, your European driver's license is good for a lot of things; when it comes to boarding an airplane in the United States, though, it's significantly less useful. Generally, you need an alternative form of personal identification to clear airport security in the U.S., but if yours is lost or stolen, that driver's license may come in handy after all.
Minors in the U.S. get a free pass when it comes to presenting identification -- they don't have to have any with them. Any traveler under the age of 18 is required to show only their boarding pass at security, so it doesn't matter whether or not you have a European driver's license or any other form of ID on your person. This does not, however, mean that minors get to skip security altogether. Even if you're under 18, you have to go through the standard security checkpoint screenings, including passing through the metal detector and putting your carry-on luggage through the X-ray.
Your European driver's license isn't the Transportation Security Administration's first choice when it comes to acceptable identification. For the TSA, the golden standard is either a form of ID issued by the U.S. government or a valid passport from anywhere in the world. If you have a driver's license from Europe but not from the U.S., you can show a foreign or domestic passport, a permanent resident card or a photo ID issued by the Department of Motor Vehicles.
The TSA understands that accidents happen, and is flexible if you can't provide a passport. If your passport is lost or stolen and you don't have a photo ID issued by the U.S. government, you may still be able to make it through airport security. With your European driver's license and any other form of official ID you may have from across the Atlantic, the TSA may be able to verify your identity using public databases. Arrive at the airport earlier than you would normally, as you may be scrutinized by security more closely.
Even as a U.S. citizen, your European driver's license alone may not get you through airport security, so make sure that you have a backup plan. While applying for and receiving a passport can take weeks, a state-issued ID card is the quickest and easiest type of TSA-approved identification to procure. By taking your Social Security card, your certificate of U.S. Citizenship or Naturalization, and two proof-of-residency documents like recent utility bills to a Driver's License Center, you may be able to obtain a government-issued photo ID in just a few hours, so you can be ready to fly even on short notice.