Very happy with politician embracing a top deal with European Union (4,2)
I believe the answer is:
made up
'very happy' is the definition.
(to be made up is to be delighted)
'politician embracing a top deal with european union' is the wordplay.
'politician' becomes 'mp' (Member of Parliament).
'embracing' is an insertion indicator.
'top' indicates taking the first letters.
'with' means one lot of letters goes inside another.
'european union' becomes 'eu'.
The initial letter of 'deal' is 'd'.
'a'+'d'='ad'
'mp' enclosing 'ad' is 'madp'.
'madp' going around 'eu' is 'MADE-UP'.
'with' is the link.
(Other definitions for made up that I've seen before include "painted" , "trying to look attractive?" , "Put together" , "Given slap" , "Chuffed" .)