You need to have a license that corresponds to what you're flying. If you're flying a UK-registered aircraft, for example, you either need a UK (or JAA) license, or a validated foreign license (which is basically a local license issued on the basis of a foreign one). There are conversion procedures, but converting any foreign CPL to a JAA one involves doing the entire ground school and a flight test, as an absolute minimum; if you don't have the requisite experience, you'll need to do some flight training, too.
Consider where you can get a work permit for; holding an Australian license is not much use if you have no right to live or work in Australia. If you had lots of experience, and a company somewhere wanted you, they'd help you get whatever local paperwork was necessary; as a fresh baby CPL, your chances are low to start with, so requiring extra effort to employ isn't going to work in your favour. Considering the current climate, I'd say most places are going to be looking to employ local girls first before they import foreign pilots; getting a work permit is also going to be harder.
The only school outside of Europe that does JAA qualifications is Bristows, as far as I know. Thus, if you want to (or can only) work in Europe, you either need to go to Bristows or a European school, or accept the additional expense and effort involved in converting a foreign license.
Be careful when schools offer you employment. Do you get a signed contract at the beginning, or is it a case of "if you're good enough, and we have a space when you qualify, we'll employ you. If you have a work permit." ? Remember, they're trying to sell you something - I'm not saying there aren't good offers out there, but $65k is a lot of wonga; I'd want to be damn sure I was spending it wisely! Is the Bristow's zero to CFI (flight instructor) a JAA or FAA license? If it's FAA, what are you going to do when your visa runs out (assuming you don't already hold work/settlement rights for the USA)?
Quite frankly, if you're in a position to raise $65k by June, then you're certainly not short of options.