Rattling off a list of tangentially related facts doesn't make the point I made untrue. Sovereignty is relinquished with control of currency. Democratically opposed austerity can be imposed from those in charge of the currency.

https://www.theguardian.com/business/2015/jul/12/greek-crisi...

Currencies are tricky, but countries will (and should) go to incredible lengths to keep them working.

http://www.npr.org/sections/money/2010/10/04/130329523/how-f...

Panama wouldn't exist in its current form without the influence of the United States on its history, so it's position as a vassal country with a pinned currency may be the only one it can occupy with any stability.

https://en.wikipedia.org/wiki/Separation_of_Panama_from_Colo...