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Germany Will Legalize Marijuana, Forming the Largest EU Market: $3.5B in Annual Tax Revenue

Germany decriminalized medical cannabis some four years ago, and now analysts at the Institute for Competition Economics (DICE) suggest that the decision to fully legal cannabis could bring the country some 3.4 billion euros ($3.85 billion) in tax revenue.

What’s more, it would save roughly 1.3 billion euros annually for the judicial system and create 27,000 new jobs.

Now the coalition pact is official. Leaders of Germany’s incoming governing parties announced on Wednesday that they have a formal agreement to legalize marijuana.

“We are introducing the controlled supply of cannabis to adults for consumption in licensed stores,” the parties said in a new 118-page agreement, according to a translation, reported Marijuana Moment.

Considering Germany’s population of nearly 84 million, legalization would create one huge cannabis market.

Finn Hänsel, founder and managing director of the Sanity Group, a Berlin-based cannabis start-up, imagines setting up …

Full story available on Benzinga.com

Original Article: benzinga.com

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