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Probably not the answer you want, but if you can display the euro symbol in illustrator, then you can bring it in as art.
Not a true solution, but here's a freeware Euro font:
The issue hinges on a problem with Unicode range conversions in CS3. This has two sides attached to it and also hinges on your system's region and language settings, so there is no easy solution. If inputting the character directly doesn't work, try expressions on the source text property:
"This is a Tst"
If even that fails, you can always try to enforce Unicode character generation:
generates the Euro sign and could then be used like this:
"This is a T"+String.fromCharCode(8364)+"st"
Thanks Mylenium, the expression on the text property worked a treat "t£", excellent work around.
Glad I could help. ;-)