Crossword Genius

A lake in European country or one far away (9)

Ross

I believe the answer is:

australia

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'one far away' is the definition.
I can't judge whether this definition defines the answer.

'a lake in european country' is the wordplay.
'lake' becomes 'l' (geographical abbreviation).
'in' indicates putting letters inside.
'european country' becomes 'austria' (country in Europe).
'a'+'l'='al'
'al' put into 'austria' is 'AUSTRALIA'.

'or' is the link.

Can you help me to learn more?

(Other definitions for australia that I've seen before include "English speaking nation" , "Barry Humphries' birthplace" , "Test match players" , "faraway country" , "Largest island in the world" .)

I've seen this clue in The Telegraph.
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