Go see the latest in the way the European Union is dealing with Greece. This article in the London Daily Telegraph pretty much lays it out. As a result of needing financial help from the other members, Greece loses its sovereignty in that body.
Some of the people writing comments suggest that the countries of the EU lost their sovereignty when they signed on to the Lisbon treaty. Whatever. The real question is this: will the Greeks man up and take their sovereignty back or wuss out and let it slide?