The European Commission on Wednesday proposed an EU budget for 2025 of almost €200 billion ($215 billion), plus €72 billion from a debt-financed fund set up in 2020 for post-Covid economic recovery. As is usually the cae, the largest share of the budget would go to agricultural subsidies – some €54 billion. Almost as large is the €49 billion pot for regional development in poorer parts of Europe. The 2025 budget is the annual slice of the European Union’s seven-year budget for 2021-2027, which was set in 2020 but – unusually – increased earlier this year. The EU budget sets the upper limits of…