Ever since Watergate (the burglary scandal that eventually brought down President Nixon ) the media have a penchant for adding the suffix '-gate' to any scandal, real or imagined. Hence Irangate (Reagan); Monicagate (Clinton); and even Nipplegate (W&D still cannot work this one out, but apparently something about a 'wardrobe malfunction' - perhaps a broken handle).
Now the trend is to add a prefix. Hence 'Grexit': the mooted kicking out of Greece from the eurozone (but not the EU) and currently 'Brexit': the quitting by the UK of the EU. The EU is the European Union, an economic and political partnership of 28 European countries These countries have little in common, except a standard railway gauge of 1,435mm . A Grexit might have been involuntary as far as Greece was concerned, but a Brexit would be voluntary.
The reason for W&D interest is that the UK PM Cameron will put a referendum to the people of the UK, asking whether the UK should stay in the EU. The referendum will be held on Thursday 23rd June.
This referendum will be the most important vote in Europe since 30th January 1933. A 'stay' vote would mean, more-or-less the status quo. A 'leave' vote would rupture Europe - more of which as the months go by. W&D is of the view that Europe needs the UK more than vice-versa.
Ah, exciting times.