The latest coming up: European Union and government (5)
I believe the answer is:
vogue
'the latest' is the definition.
'coming up european union and government' is the wordplay.
'coming up' shows that the letters should be reversed in order.
'european union' becomes 'eu'.
'and' means one lot of letters go next to another.
'government' becomes 'gov'.
'eu'+'gov'='eugov'
'eugov' in reverse letter order is 'VOGUE'.
(Other definitions for vogue that I've seen before include "Popular taste at a given time" , "Fashion, style" , "Popular fashion" , "Fashion, trend" , "Prevailing fashion" .)