"No budget heading will escape cuts," said Juncker, who will chair the meeting because his country holds the E.U.'s rotating presidency. The U.K. takes over July 1.Chirac has argued that the farm subsidies, worth EUR42.5 billion, or 46.1% of the E.U. budget, are untouchable because they were locked in during a 2002 summit. But Blair has said he won't discuss his country's refund unless agriculture is also on the table. Juncker has offered up a compromise, with spending cuts across the board. When there is a deal, he said Wednesday, it will only be "millimetres away" from what he is proposing.