River dividing Pisa meanders out of European capital (5)
I believe the answer is:
paris
'european capital' is the definition.
(I've seen this before)
'river dividing pisa meanders' is the wordplay.
'river' becomes 'r'.
'dividing' means one lot of letters goes inside another.
'meanders' indicates an anagram.
'pisa' is an anagram of 'pais'.
'r' going into 'pais' is 'PARIS'.
'out of' is the link.
(Other definitions for paris that I've seen before include "where he got plastered?" , "City; Juliet's betrothed Count" , "Helen's abductor" , "An American in - -" , "City where one may see the Mona Lisa" .)