No (I just answered a similiar question, 700 Euro is not sufficient for securing one's livelihood), and you will not get a residence permit for this. For getting a residence permit for freelance activities, you are required to produce a viable business plan. (Edit: Of course, this only applies if you require such permit; as an EU citizen, you do not need one).
In addition, please be aware that working “on the internet" does not mean that you are “exterritorial". You need a work permit at the place where you actually sit and work. And that is also the place where you pay taxes (subject to the double taxation agreements concluded with the other countries involved).