State of Emergency – Presidential Decree – Economic consequences

The State of Emergency Presidential Decree has entered into force yesterday, March 16^th, 2020:

1. State of Emergency has a duration of 30 days as of March 16^th, 2020;

2. Certificates for emergency situations (which are needed in order to invoke Force Majeure, amongst others) are issued by the Ministry of Economy;

3. any documents (i.e., authorizations, permits, licences etc.) whose validity expire during State of Emergency are automatically prolonged;

4. the Government is authorized to issue protection measures for employers and employees by derogating from current legal regulations;

3. any documents (i.e., authorizations, permits, licences etc.) whose validity expire during State of Emergency are automatically prolonged; 4. the Government is authorized to issue protection measures for employers and employees by derogating from current legal regulations;