Leader wasting euros, PM (7)
I believe the answer is:
supremo
'leader' is the definition.
(I've seen this before)
'wasting euros pm' is the wordplay.
'wasting' indicates an anagram (waste can mean to destroy).
'euros'+'pm'='eurospm'
'eurospm' is an anagram of 'SUPREMO'.
(Other definitions for supremo that I've seen before include "Big cheese, head honcho" , "Person in overall charge, top banana" , "Person in overall charge, big boss" , "Overall head" , "Person in overall authority" .)