Greece Advances Medical Cannabis Legislation, Attracting Foreign Investment
Greece is moving closer to legalizing medical cannabis, attracting foreign investment and sparking political debate over its economic impact
Key Points
- 1Greece advances medical cannabis legislation through parliament
- 2Foreign investors, including a Canadian company, plan to start cultivation
- 3New Democracy party opposes the bill, fearing extensive cannabis growth
- 4The Greek treasury anticipates significant tax revenue from the industry
Greece is on the brink of legalizing medical cannabis, following the successful passage of a draft bill through the parliamentary committee stage. This legislative move is poised to open the doors for the cultivation and production of cannabis, marking a significant shift in the country's approach to medical marijuana. According to Euronews, foreign investors are already showing interest, with a Canadian company planning to initiate cultivation within the year
Despite the potential economic benefits, the proposed legislation has faced opposition from the New Democracy party. Kostas Vlasis, a member of the party, expressed concerns about Greece turning into a large-scale cannabis cultivation site. However, the Greek treasury is optimistic about the potential tax revenues that could be generated from this burgeoning industry, which could provide a much-needed boost to the national economy