The most common and most likely answer to this crossword clue is the 5 letter word SWISS
I've seen this crossword clue in The Times
S
W
I
S
S
More clues leading to the result SWISS
- European whiskey is on board
- European vessel going round Western Isles
- Ship touring Caribbean’s in race
- Westminster’s southern European nationals
- European state overrun by Nazis
- European wife is aboard steamer
- European succeeded three times around London area
- Space station bearing first citizen of neutral country
- European Society repeatedly restricting organisation for women?
- Nationality of small West Indies’ society
Buddy explains!

The straight part
We know that "European" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case european = swiss.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SWISS mean?
SWISS verb- To prepare (meat, fabric, etc.) by rolling or pounding in order to soften it.