Painful birth of the market state?

So what is up with Greek sovereignty? Why is a government, which up until last week was railing against reforms demanded and controlled from outside, willing to sacrifice sovereignty to remain in the EU & Eurozone? No fully formed answer from me, but it reminds me of the central thesis of Achilles Shield by Philip Bobbitt: that we are in the birthing phase of a new society of market states. The emerging legitimate unit of political organization is a market state. And Greeks don’t want to be more sovereign but part of the wrong market. Just think how exit from the EU would affect the best and brightest of Greece. Suddenly, the mobility to go work in London, or Amsterdam, or elsewhere in Europe would be gone. Look at this chart of patents by expats in the Economist — the second highest outlier among wealthy countries is Greece just after Cyprus. This would be a huge loss to the creative class of Greeks. It might be worth sacrificing a lot, while the potential legitimacy and self-respect of sovereignty is waning.