The country has been in constant conflict with its southern neighbour Greece over the name. There is a province in the north of Greece called Macedonia, and the Greeks claim they have the historical right to the name. This is why the country Macedonia is formally known as the Former Yugoslav Republic of Macedonia, and not just Republic of Macedonia.
The Macedonians are tired of this, for obvious reasons. This is why they have now decided to change names for their country. The new name is similar to the old one, but different enough to make the Greeks happy. The new name will be Macdonaldsia. It will take effect on the 1 April 2017.
The new name will be accompanied by a new flag as well. The new flag reflects the new name. Another advantage of the new name, is that Macdonaldsia will be the very first country with an international corporation as a sponsor: McDonald's. This will not even pose a problem in the Olympic Games, since McDonald's is also a long time sponsor of the Games.
This is the new flag:
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