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Germany is on the precipice of becoming the third European Union member state to legalize cannabis. The country’s legislators have been trying to come up with a plan that would satisfy all parties and it seems that they have found a potential solution. The Traffic Light Coalition (as it has been named), formed by The Greens, the Social Democrat Party, and the Liberals, announced last week that they have reached a deal on cannabis legalization.
The law will be voted on this month, and legalization could take effect as soon as April. However, many politicians remain unconvinced and plan to vote against the law.
The other EU members to take the plunge are Malta and Luxembourg.
German focus
The German plan emphasizes prevention and improving health and child and youth protection. Plus, the new proposed legislation, introduced last year by Federal Health Minister Karl Lauterbach, may also target issues surrounding the illicit market – a problem that has bedeviled many U.S. states.
“The fight against the black market, decriminalization, and better protection of minors will come as announced. The previous drug policy has failed; a new beginning,” Federal Health Minister Karl Lauterbach said on X.
According to Forbes reporting, “Lawmakers recently revised the bill to ease restrictions opposed by advocates and supporters in the Bundestag. Changes included raising home possession limits and eliminating the possibility of jail time for slightly exceeding the possession limit. The government coalition also plans to introduce a complementary measure establishing pilot programs for commercial sales, set to be revealed after submission to the European Commission.”
Forbes also noted that the final Bundestag reading is expected in the week from February 19 to 23. The law could pass in the week starting February 19, moving to the Bundesrat on March 22 without expected hurdles. If all goes well, by April 1, adults could grow cannabis at home and possess small quantities, while cannabis clubs will be allowed from July 1.
Canadian gains
Green Market Report wrote in November that Canadian firms were most likely to benefit from the moves in Germany.
The companies that stand to gain the most from this legislative easing are:
Tilray Brands
Curaleaf Holdings
Cronos Group
Organigram Holdings
Aurora Cannabis
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