Party from England touring Europe’s leaders (4)
I believe the answer is:
fete
'party' is the definition.
(I know that fete is a type of party)
'from england touring europe's leaders' is the wordplay.
'leaders' indicates taking the first letters.
The first letters of 'from england touring europe' is 'FETE'.
(Other definitions for fete that I've seen before include "Outdoor entertainment and sale, often for charity" , "Outdoor entertainment or sale, may be for charity" , "Organised series of acts and performances" , "Sale of goods and refreshments to raise funds for charity" , "Lavishly entertain; charity function" .)