You should have asked how they would encode the german currency sign (€ for euro) in ASCII or its german counterpart latin1/iso-8859-1...
It's not possible. However I bet they would argument to use iso-8859-15 (latin9 / latin0) with the international currency sign (¤) instead or insist that char 128 of latin1 is almost always meant as €, so just ignore the standard in these cases and use a new font.
This would only fail in older printers and who is still printing stuff these days? Nobody right?
Using real utf-8 is just too complex... All these emojis are nuts