As of June 3, 2008:

1 EURO = Canadian$1.564

Or,

CAD$1 = 0.649 EURO

For more Current Exchange Rates, visit XE.NET

In other words, if you have $100 Canadian Dollars, it is worth about 64.90 Euros, and if you have 100 Euros, it's worth 156.40 Canadian Dollars. 

These are the actual exchange rates, if you go to a bank or such, your rate won't be as good. For cash, large currency exchangers in downtown Toronto usually have pretty good rates. Don't do your conversion at the airport or train station, they ALWAYS have the worst rates.

If you need to change a large amount of money, call around to get the best exchange rates.

Many say you get the best exchange rate while travelling if you use your credit card, if you're a Canadian, I think the CitiMastercard Enrich is the best, even though their foreign exchange fee is 2.5%, you get 1% cash back. However, for foreign cash advances, the Desjardins Credit Card has the best rate, since it only charges 1.8% (plus interest if you don't prepay).  It's also good to bring a Visa and a Mastercard, since one may be very dominant than the other in some countries.