Others will chime in soon but I think that is a Falcon 'branded' Eddy Merckxx. They had a deal to use his name and made lots of different level bikes back in the day.
So it is a Merckx just not the level of bike his own company started putting out. Here in the US it would be like a Free Spirit at Sears with Ted Williams name on it. (he was a big baseball star or something)
Bianchis '87 Sport SX, '90 Proto (2), '91 Boarala 'cross, '93 Project 3, '88 Trofeo, '86 Volpe, '89 Axis, '79 Mixte, '99 Mega Pro XL Ti, '97 Ti Megatube, , '90 something Vento 603,
Others but still loved,; '80 RIGI, '80 Batavus Professional, '87 Cornelo, '86 Bertoni (sold), '09 Motobecane SS, '98 Hetchins M.O., '09 K2 Mainframe, '89 Trek 2000, '?? Jane Doe (still on the drawing board), '90ish Haro Escape
It's orange so it has to be a real EM, right? I think BG is right on this. Love the simplex front derailleur and the campy (valentino?) on the rear. It appears to have a lot of period correct bits and pieces that seem to be in good shape. Heck the even the saddle looks like the real (and perhaps painful) deal.
Thanks, this is new to me! But after some quick "googling" I find the Falcon Merckx bikes.