Hi Guys, haven't had much time online this week so I've only been able to check this thread today.
bajargyan- thanks for the information, I saw earlier in the thread that they weren't keen to offer an extension.
vgeri- wow, you have a very interesting perspective as I haven't met many people who have been to both Melbourne and Barcelona. MBS does have a very good reputation in Australia and from the information I have been able to gather online it has several similarities to ESADE- namely small class sizes and a very close relationship between fellow students and also with the faculty.
It seems that for me the choice isn't so much MBS vs ESADE, but Australia vs Europe because as you said, choosing Melbourne will only really make sense if my goal is to work in Oceania, and Barcelona is obviously the better choice for a career in Europe.
Having never been to Australia it is very hard for me to choose Melbourne at this time, but I am planning a trip there early next year. Most of my friends who I have told about my choice have said that Melbourne (and Australia in general) is a great place live and that they feel that it is a young country with lots of promise for the future. For now I am going to continue preparing my application for both schools and hopefully (fingers crossed

) I will get accepted at both and can then make the decision based on my experiences at the ESADE information session and MBS visit I will be attending next year. Both schools seem exchange students and so even if I chose one over the other I may have an opportunity to spend some time at both.
You are right that Melbourne is significantly cheaper, the problem is that they don't offer student loans for international students. As I have been away from my home country for several years it will be difficult to get a loan there, and as I am not a permanent resident in the country where I currently live, I'll have no luck with banks here either.
Worst case scenario is that both of them ding me and then I will have to look at other options like Vlerick, Cranfield, Warwick etc.
First priority is getting a good GMAT score, it seems that there are a lot of early applications for both schools this year and so places may be a bit tight by the time I get my applications in.