latin1 or latin_swedish is typically the default encoding for MySQL and is what typically works best.
It has nothing to do with the language the content is in - this is simply a recognition of character sets for collation purposes. latin_swedish was always the default as MySQL was originally created in Sweden by a Finn (Ulf Michael Widenius) along with some Swedes. So it's worth a check... but your database probably already uses the default collation.
And just for some real geeky knowledge, Widenius has a daughter named "My" and son named "Max". hence the names MySQL and the MaxDB.
The other question I would have... you didn't by chance copy and paste that into your content, did you? I know sometimes clients will send their copy over on a word document and want me to copy and paste it in and I can confirm that copy and pasting can make WYSIWYG editors go crazy in what they output. You may need to check the source on your HTMLEditor instance and remove all the formatting.