I've just been through the same problem with EasyEclipse and TortoiseSVN and what it comes down to is that the repository created by TortoiseSVN is not compatible with the version expected by Eclipse.
I tried fora for both applications without any joy but, eventually, discovered a comment somewhere that suggested using the command line utility "svnadmin" to create a repository that is compatible with both applications.
I downloaded this from Slik Subversion
and used it successfully to create a repository folder that can be read by both TortoiseSVN and Eclipse. However, you have to ensure that you use an option to create an older version than the default.
When you've installed Subversion, create an ordinary folder in your chosen place for a repository and open a command line editor there. Run the command: "svnadmin help create".
This will show you various options available and you need "--pre-1.5-compatible". Use this to create the repository structure in this folder and you should then find that it is recognised by both of the other applications.
Hope this is clear and works for you!