Crossword Genius

Much-loved euro-pics ruined (8)

Ross

I believe the answer is:

precious

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'much-loved' is the definition.
I can't tell whether this defines the answer.

'euro-pics ruined' is the wordplay.
'ruined' indicates anagramming the letters.
'euro'+'pics'='europics'
'europics' is an anagram of 'PRECIOUS'.

Can you help me to learn more?

(Other definitions for precious that I've seen before include "Valuable or dearly beloved" , "Cherished or of high worth" , "Much loved" , "Having great value" , "costly" .)

I've seen this clue in The Sun.
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