One million going to a good European picture (5)
I believe the answer is:
image
'picture' is the definition.
(I know that picture can be written as Image)
'one million going to a good european' is the wordplay.
'one million' becomes 'im' (resembles 1m, 1 million).
'going to' is a charade indicator (letters next to each other).
'good' becomes 'g' (abbreviation).
'european' becomes 'E' (abbreviation e.g. EU).
'im'+'a'+'g'+'e'='IMAGE'
(Other definitions for image that I've seen before include "public perception" , "Dead ringer" , "Likeness U symbol" , "Visualisation" , "Pictorial representation" .)