European with Conservative still elated (8)
I believe the answer is:
ecstatic
'elated' is the definition.
(I've seen this before)
'european with conservative still' is the wordplay.
'european' becomes 'E' (abbreviation e.g. EU).
'with' is a charade indicator (letters next to each other).
'conservative' becomes 'C' (UK political abbreviation).
'still' becomes 'static' (static can mean still or not moving).
'e'+'c'+'static'='ECSTATIC'
(Other definitions for ecstatic that I've seen before include "In a state of great delight" , "Feeling great rapture or delight" , "Cock-a-hoop" , "Full of bliss" , "elated" .)