European nemesis of Nike (5,7)

I believe the answer is:

greek goddess

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'nike' is the definition.
Both the definition and answer are singular nouns.
Perhaps you can see a link between them that I don't see?

'european nemesis' is the wordplay.
'european' becomes 'greek' (Greece is in Europe).
'nemesis' becomes 'goddess' (I am not sure about this - if you are sure you should believe this answer much more).
'greek'+'goddess'='GREEK GODDESS'

'of' acts as a link.

Can you help me to learn more?

I've seen this clue in The Irish Times and the Irish Times (Crosaire).

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