OE

The first blank is part of a comparison. The second half - dealing with each question one at a time - tells us that the first half must mean the opposite of that, or dealing with all the parts at once. Components means pieces or parts, and therefore is the only acceptable choice.
The second blank is also a comparison. Ephemeral and amorphous mean not concrete or lacking form, while tangible means the opposite. In this comparison concrete action is the more logical opposition to continued negotiations, so tangible is the best choice.
Both alleviate and exterminate could work logically in the last sentence - the phased approach could lessen (alleviate) or destroy/get rid of (exterminate) the immediate pressures. However, grammatically and stylistically only alleviate fits.