Give up? It could be far worse (8)
I believe the answer is:
forswear
'give up?' is the definition.
(I've seen this before)
'it could be far worse' is the wordplay.
'it could be' is an anagram indicator (the same letters could be an anagram).
'far'+'worse'='farworse'
'farworse' with letters rearranged gives 'FORSWEAR'.
(Other definitions for forswear that I've seen before include "Give up" , "Reject or disavow" , "Agree to do without" , "Renounce upon oath - far worse (anag)" , "Retract - recant" .)