Reckon European nation must absorb one million (8)
I believe the answer is:
estimate
'reckon' is the definition.
(estimating is a kind of reckoning)
'european nation must absorb one million' is the wordplay.
'european' becomes 'e' (abbreviation e.g. EU).
'nation' becomes 'state' ('state' can be a synonym of 'nation'**).
'must absorb' indicates putting letters inside.
'one million' becomes 'im' (I've seen this in other clues).
'state' going around 'im' is 'stimate'.
'e'+'stimate'='ESTIMATE'
(Other definitions for estimate that I've seen before include "Reckon, judge" , "Judgment, appraisal" , "Make approximate judgement of size or amount" , "Judge the approximate value" , "Judge the approximate cost of" .)