Good old Indo-European person entertaining any handsome youth (8)
I believe the answer is:
ganymede
'handsome youth' is the definition.
(handsome boy in Greek myth)
'good old indo-european person entertaining any' is the wordplay.
'good' becomes 'g' (abbreviation).
'old indo-european person' becomes 'mede' (the Medes lived in the ancient city of Media).
'entertaining' indicates putting letters inside.
'g'+'mede'='gmede'
'gmede' enclosing 'any' is 'GANYMEDE'.
(Other definitions for ganymede that I've seen before include "Cupbearer of Greek gods - largest moon of Jupiter" , "One of Jupiter's moons" , "Beautiful cupbearer to the gods" , "beautiful boy" , "servant of God" .)