Rich for life with no European in charge (8)
I believe the answer is:
prolific
'rich' is the definition.
(prolific can mean rich or abundant)
'for life with no european in charge' is the wordplay.
'for' becomes 'pro' (as in being 'pro' something).
'with no' suggests deleting specific letters.
'european' becomes 'E' (abbreviation e.g. EU).
'in charge' becomes 'ic' (abbreviation for 'in charge').
'life' with 'e' removed is 'lif'.
'pro'+'lif'+'ic'='PROLIFIC'
(Other definitions for prolific that I've seen before include "Very fertile, productive" , "Plentiful" , "Abundantly productive" , "Producing many works" , "Producing much" .)