Photo by Omer Messinger / EPA / Shutterstock
The big and exciting news is coming out of Europe this week. On November 18, German media sources confirmed that members of the country’s governing coalition would soon be legalizing adult-use cannabis.
The incoming governing coalition is comprised of the Social Democratic Party of Germany (SPD), the Free Democratic Party (FDP), and the Greens. Their plans to legalize adult-use cannabis makes Germany one of the few counties to fully legalize cannabis, following Uraguay, Canada, Luxembourg (and several U.S. states).
With the new law in place, Germany will become the second G-7 nation to legalize adult-use cannabis as well as the second nation in the European continent besides Luxembourg. Following Germany, we’re expected to see the Netherlands and Switzerland run a trial basis to slowly implement the legalization of adult-use cannabis in 2022.
A German coalition spokesperson told Harris Bricken about what the country will look like now that adult-use legalization is on the horizon. The spokesperson said that the nation will introduce “controlled distribution of cannabis to adults for consumption in licensed stores.”
He continued that doing this will not only control the quality of each product and guarantee the protection of minors, but it would “prevent the transfer of contaminated substances.” Additionally, the coalition is expected to evaluate the law after four years for “social impact.”
There are always various benefits to come into play when a country legalizes recreational adult-use cannabis, and many of these positives were seen throughout legalized U.S. states. In terms of Germany’s forthcoming laws, officials are estimating a €4.7 billion ($5.3 billion) benefit to the German economy. This will result from the savings of cannabis-related criminal enforcement and incarceration and generated tax revenue.
When any country or state legalizes cannabis, rules and regulations set certain limitations and boundaries. Therefore, we must first examine the text of the legalization when it arises, alongside any rules and regulations that will oversee licensing and operations.
We should also evaluate the timeframes for implementing these rules and regulations before predicting the potential business opportunities for prospects entering Germany’s adult-use cannabis industry.
We’ve been waiting for years to hear about a country as innovative and modern as Germany to legalize recreational cannabis, and we’re not surprised they are the second country in Europe to do so. It should go without saying that whenever a county legalizes cannabis, especially one that’s as notable as Germany, it will pave the way for more to follow.
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