Lyric discussion by rogue_lettuce 

"And since the scramble ended" refers to the "Scramble For Africa".

The reference to Mazzini is a reference to the idea of nation-states, a project/idea that Frank personally believes has failed (apparent in interviews, but also "why should I have to choose a state when every one of them has failed?")

Frank compares them to the Panopticon in the next line, which was a prison designed by the philosopher Bentham. - Wikipedia

"I promise not to overthrow the state if allowed to redraw the atlas before I emigrate" - another reference to Mazzini, who wanted to redraw the borders of Europe to be in line with God's intentions (borders delineated by great rivers, mountain ranges, etc)

"I'll declare my own sovereign state, with borders based on the bottoms of my boots" is reclaiming autonomy and authority over himself, saying that he won't accept other people or states coercing him, and this is backed up by "but never on my knees".

The Metternich line comes back to the lines about diplomacy, etc, and reflects his views that great revolutionary movements have failed, but that individuals can still attempt to reclaim autonomy for themselves.

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