x

Society

Greece Issues Licenses for Medical Marijuana, Big Market Seen

November 20, 2018

ATHENS – It took years and a ruling Radical Left SYRIZA-led coalition to get it done but Greece on Nov. 19 granted the first licenses for private companies to grow medical marijuana with the government expecting a boom worth billions from the product.

Greece legalized cannabis for medical use last year and in March lifted a ban on growing and producing. Two licenses were granted so far and another 12 will be issued by the end of this year, the Economy and Development Ministry said, the news agency Reuters said.
“There is huge interest, mainly from Canada and Israel … some of them (potential investors) are huge,” Deputy Economy Minister Stergios Pitsiorlas told a news conference.

But legalizing marijuana for recreational use isn’t being considered, he said, if widely practiced, particularly among followers of the Leftists.

Pitsiorlas said the first medicinal cannabis products were expected to hit the market in about 12-18 months time. The industry was mainly export-oriented, he said.

Thousands of patients in Greece are thought to use cannabis for a range of serious medical conditions, though authorities don’t have precise figures, the report said.

Under Greece’s licensing system, medicinal cannabis products would be available on prescription from chemists but not covered by the state health insurance plans, Health Minister Andreas Xanthos said.

The first licensed cannabis hothouses will be in Larisa in central Greece, and in Corinth in the Peloponnese. The 14 licenses were expected to create more than 750 jobs and represented about 185 million euros (US$212.05 million) in investment.

“Our message is that the country is open for investments,” Deputy Minister of Agriculture Vassilis Kokkalis as many members of SYRIZA are trying to block foreign companies, leading an American firm to suspend plans for a major mall in Athens.

RELATED

While Greece is hoping to lure more foreign companies - especially American - Greek companies are showing interest in investing in the United States to take advantage of aid for environmental and other projects being offered.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

A Palestinian Baby in Gaza is Born an Orphan in an Urgent Cesarean Section after an Israeli Strike

RAFAH, Gaza Strip (AP) — Sabreen Jouda came into the world seconds after her mother left it.

WASHINGTON - Although human rights groups have chided Greece’s record in dealing with refugees and migrants, alleging pushbacks the government denied happened, the US State Department said Greece’s record is essentially status quo.

While Greece is hoping to lure more foreign companies - especially American - Greek companies are showing interest in investing in the United States to take advantage of aid for environmental and other projects being offered.

ATHENS - Some 67 suspects said to be hooligan supporters of the Olympiacos volleyball team were taken before a prosecutor to face charges of being involved in the death of a police officer struck with a flare during a brawl outside a stadium.

It has been a year since Metropolitan Joachim of Nicomedia – formerly of Chalcedon – passed away and definitively rests in the earth of Chalcedon, in the Metropolis he served with exemplary discretion and dedication.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.