Stooge,
As has been said, no one will sponsor you at the moment.
The only way to reduce the cost of "converting" your lic is to have 500 hours of 2 crew flying. If not, then you will have to do a full JAR IR as well as the 650 hour ground school for the JAR ATPL theory. Also, you then need to get the MCC as well. Note, you can't escape doing the 14 exams.
The present employment scenario is better than Australia, but not as good as it was 12 months ago. However, as with all downturns, an upturn will happen. Just when? I don't know.