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Greece looking seriously at marijuana being a catalyst for getting their country out of recession

Greece looking seriously at marijuana being a catalyst for getting their country out of recession

On Nov. 14,¬†Greece’s Minister of Rural Development and Food spoke with Bloomberg about the nation’s economic conditions and suggested that the cultivation of marijuana (cannabis) could be just the thing to help the country fight out of its decade long recession.

The cultivation and sale of medical marijuana could help Greece’s government pull the country out of a seven-year economic crisis, according to Evangelos Apostolou, Greek Minister of Rural Development and Food.

He told Bloomberg that favorable climate conditions and the possible medical legalization of cannabis have turned investor focus to Greece. Growers have expressed interest in pouring more than ‚ā¨1.5 billion ($1.74 billion) into projects to build greenhouse parks. The government estimates its share of the global market could be worth ‚ā¨200 billion in the next ten years.

According to a task force preparing a draft bill to legalize medical marijuana in Greece, a single campus of 12 to 15 cannabis greenhouses could create 400 jobs. This is vital for the country with one of the highest levels of unemployment in the European Union – over 20 percent since November 2011. –¬†Russia Today

The long time stigma against cannabis is beginning to wane all around the world as even the U.S. is finding that the ‘roadside weed’ is not only a viable alternative to opiod use in many ailments, but the economic returns are substantial as seen in states like Colorado and Washington.

The Greek government is expected to submit a bill to legalize cannabis for medical use by the end of the year, and it marks the first European country to recognize marijuana’s potential outside of Holland which had long legalized it for recreational use.¬† And in the midst of seeing even their infrastructures sold off to the highest bidder to pay off debts they owe to the EU, finding a brand new industry to stimulate their economy may be just the catalyst to potentially bring Greece out of their long dark malaise.

Kenneth Schortgen Jr is a writer for The Daily Economist, Secretsofthefed.com, Roguemoney.net, and Viral Liberty, and hosts the popular youtube podcast on Mondays, Wednesdays and Fridays. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.


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