Reportedly, what may keep the wheels turning in European country (6)

I believe the answer is:

greece

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'european country' is the definition.
(country in Europe)

I can't explain the remainder of the clue.

(Other definitions for greece that I've seen before include "Modern-day classical Hellas" , "European state" , "Country of southeast Europe" , "Mediterranean republic" , "EU member" .)

I've seen this clue in The Times.

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