DAVOS, January 22. /TASS/. Europe is highly vulnerable to external shocks because it needs too much time to implement measures required to support its economies, Dutch Prime Minister Mark Rutte told the World Economic Forum news service Davos Live.

Discussing economic reforms in European nations, he said they were painful and should be carried out as quickly as possible.

European competitiveness would remain relatively low if no reforms were pursued, he said. “Europe needs to do a lot more to become competitive,” he warned.

The Dutch premier said he worried over stumbling budget consolidation and reforms in Europe. The Netherlands had used a "base case" for economic recovery after recession, covering budget consolidation and reforms in real estate, public health, the social sector, pensions and education.