Steil (2013) in his VoxEu talk suggests parallels between the problems of the Bretton Woods system and the problems of the Eurozone today. Why was the Bretton Woods system set up in the 1940's? Why was the Euro created in the 1990's? Why did the Bretton Woods system collapse? Could the EMU collapse? Assess Steil's opinion that there are parallels between the systems. (long answer)