If they accept the EU proposal they will lose any sovereign governing ability.
If they vote to say no then they still have sovereign government.
Taking another bailout package from the IMF and the ECB will mean almost complete acquiescence to the ECB and any legislation the ECB wants to impose. The government will just be a puppet to the Germans.
Your all forgetting Hungary and Iceland. They tossed out the IMF and they are doing much better and are sovereign countries again. Being in the EU means having no control over the currency so the CB's cannot raise or lower its currency or print currency. The currency does not belong to them it belongs to the ECB.
