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Quiet pub found by a Conservative, 50, before European summit (8)

Ross

I believe the answer is:

pinnacle

I'm a little stuck... Click here to teach me more about this clue!

'european summit' is the definition.
'pinnacle' can be an answer for 'summit' (pinnacle is a kind of summit). I am unsure of the 'european' bit.

'quiet pub found by a conservative 50' is the wordplay.
'quiet' becomes 'p' (music symbol for 'piano', ie soft or quiet).
'pub' becomes 'inn' (an inn is a type of pub).
'found by' means one lot of letters go next to another.
'conservative 50' becomes 'cle' (I can't explain this - if you can you should give a lot more credence to this answer).
'p'+'inn'+'a'+'cle'='PINNACLE'

'before' is the link.

Can you help me to learn more?

(Other definitions for pinnacle that I've seen before include "Highest point (of fame or building)" , "Acme" , "tip-top" , "The highest point, summit" , "Apex" .)

I've seen this clue in The Daily Express.
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