EMV where you need to input a PIN Number is simply a way for VISA/MC to push all the liability onto the customers for stolen credit cards. If a purchase is made with the credit card and PIN, then the issuing bank can simply let the liability fall on the customer, instead of the bank eating the costs, like how it's done today.
In the UK at least this is not true. The bank have to demonstrate you did not take reasonable care to protect your PIN (e.g you left it written down in your wallet).
See some of the following case studies by the FOS that support the fact that the customer is not always liable even if the PIN is used:
Merchants eat the costs where no EMV card was used.
Customers eat some costs where the bank can prove negligence, and face court if the bank can prove fraud (i.e. signed statement it wasn't you but later the CCTV footage is found. Oops)
Other than that, here in Europe, customers are protected by law from having to take on the liability. Varies by country, but basically it's a case of "you're responsible to see that nobody else gets to take my money, that's why you're a bank numbnuts"
