In the following passage there are blanks, each of which has been numbered. For each number, choose the word which fits the blank appropriately from the suggestions provided. Find out the appropriate word in each case.   The continuing economic crisis has put central banks and governments the world over into (1) waters. For the industrialized West, the question seems to be a choice between economic stimulus and jobs, in the hope of creating a softer landing, or a swift shock at the hands of the free markets, in the hope of getting through the (2) more quickly. In emerging markets, the question is how to deal with being the focal point for investors looking to maximise returns.   Specifically, for the Federal Reserve in the United States, that means (3) hundreds of billions of dollars into the markets – buying Treasury bills to increase liquidity. In Eurpoe the concern is that monetary union may be at risk due to the strains…