Greece licenses six medical marijuana operations, more coming

It’s still unlawful in Greece – apart from medical use – but the marijuana industry is set to take off after the ruling Radical Left SYRIZA government authorized six licenses for companies to cultivate the product

Some 50 applications for licenses have been submitted, three of which are in the final stages of approval said the business newspaper Naftemporiki, adding that the 56 total potential operations could bring in 590 million euros ($663.10 million) in revenues.

The new industry could also create 3,500 jobs during a still-running more than nine-year-long economic and austerity crisis with the government, apart from hard-core elements who don’t want foreign businesses, seeking more outside investors.


Despite thriving medical and underground markets, cannabis in Greece remains stigmatized

Greece is a small and picturesque country, occupying an Alabama-sized 50,000 square miles of mountainous terrain replete with thousands of islands, age-old ruins, and the longest coastline along the Mediterranean Sea, writes Erin Hiatt.

It is home to many ancient traditions that span centuries, like the theatrical art forms of drama, tragedy, and satire that were born there to honor Dionysus, the Greek god of wine, fertility, madness, and ecstasy. Greece is also also the birthplace of direct democracy, a form of government which continues to this day.


Greece issues first medical cannabis licenses

Greece on Monday issued its first licenses for the cultivation and processing of medical cannabis in a taboo-breaking move, the agriculture ministry said Monday.

The licenses went to two companies, Biomecann and Bioprocann, respectively based in Larissa and Corinth, who are expected to invest a combined 22 million euros ($25 million) and hire over 100 people.

"It's a greenhouse cultivation expected to create many jobs," junior agriculture minister Vassilis Kokkalis said in a statement jointly released with the ministries of health and development.

The licenses have a five-year duration and are revised annually. A law permitting the production of medical cannabis was passed earlier this year by Greece's leftist-led government.


Canopy Growth to spend $115 million to grow marijuana in Europe

Canopy Growth Corp., one of the world’s biggest medical cannabis companies, is planning a major investment in Europe.


After law change, Greek medicinal users hope to enter cannabis business

Konstantinos Syros turned to cannabis 26 years ago after a motorcycle accident left him with deformed arm and debilitating pain that conventional treatments could not assuage. For years he had to buy it illegally. Now, he plans to grow it himself.

Greece legalized cannabis for medical use last year, and in March this year it lifted a ban on growing and producing it, in the hope of drawing foreign investment into the sector.

The law permitting Greeks to grow cannabis has come as a relief to patients, who say that lifting the ban on using it was only half the battle, as long as it remained hard to get.


Greece prepares for first government-backed medical marijuana expo

Building on momentum generated when Greece legalized medical cannabis imports and hemp cultivation last year, the country is gearing up for a major medical marijuana expo on Friday

Upwards of 120 businesses, exhibitors, entrepreneurs, and innovators will gather in the Greek capital of Athens on Friday to present medical marijuana products, technology, and applications to the general public. But the massive cannabis event won’t just be introducing the drug to the people. Politicians from across Greece will also attend the event in order to gather support for the government’s plans to generate revenue through a legal medical marijuana industry.

Athens To Host Balkannabis Expo 2018


Investor interest in cultivating medical cannabis in Greece

Five consortiums with investment plans to cultivate cannabis for medical use, adding up to over 1 billion euros on paper, have already knocked on the door of Deputy Economy Minister Stergios Pitsiorlas.

A few days ago the Greek Parliament approved the law for the production, manufacturing and sale of medical products containing cannabis, paving the way for attracting investment in a new and largely misunderstood activity.

It remains to be seen whether the initial strong interest transforms into actual investment and whether the interested parties are long-term rather than short-term investors.

In general, developments will depend on the speed of the issue of the necessary secondary legislation and its content.


Greek parliament passes bill to regulate medical cannabis production

Legislators in Greece have approved a bill to regulate medical cannabis cultivation and distribution.

On March 1, lawmakers voted in favour of the bill, which will allow licensed businesses to cultivate and process cannabis for medical purposes. Land for cultivation must be at least 4,000 square metres in size and secured by fencing.


Medical cannabis one step closer to legality in Greece

Foreign investors are already planning to begin cultivation this year, with the Greek treasury hoping for high times ahead with tax revenues.

The Greek government has passed a draft bill to leglise medical cannabis through the parliamentary committee stage, and the bill to allow the cultivation and production of cannabis is now a significant step closer to becoming law.

Some, however, are not happy, especially the rightwing New Democracy opposition.


How Greece is growing medical marijuana to tackle high unemployment

Greece is taking advantage of its warm climate to cultivate pot and create more than 2,000 jobs.

The Greek economy has been hammered by 10 years of financialcrisis, with unemployment topping 20 per cent every year since 2012. Now, the government thinks pot growers can help.

A project to cultivate, process and export medical marijuana in Veroia, in the fertile north of the country, shows how Greece sees cannabis as a possible growth industry for the country, which has a warm, dry climate similar to California. New legislation could make the plan a reality as soon as next summer.


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