A Bandon optimism in Depression (7)

I believe the answer is:

despair

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'depression' is the definition.
(thesaurus)

I don't understand how the rest of the clue works.

(Other definitions for despair that I've seen before include "gloom" , "Feeling of hopelessness" , "The feeling that nothing will turn out well" , "Opposite of 10" , "sort of counsel?" .)

I've seen this clue in the Irish Times and the Irish Times (Crosaire).

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