What does the cryptic crossword clue "European Union with drive set up exchange (8)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

European Union with drive set up exchange (8)

Times Cryptic #28984 | 4 Down | 2024-08-01

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I haven't cracked this one yet — but the brilliant team at Times for the Times have:

EU(European Union), GO(drive) and LAID(set) all reversed

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