Politics

Germany could soon legalize REC

By Alex Halperin
Nov 10, 2021
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Germany is on the brink of legalizing RECBloomberg reports. Already Europe’s largest MED market, the reported deal could be a major breakthrough for the industry in the continent’s largest economy. 

  • Negotiators for the Social Democrats, Greens and pro-business Free Democrats are working on the details of how the market would function, as Social Democrat Olaf Scholz, a legalization skeptic, prepares to take office as chancellor.
  • Legalizing could benefit North American companies including Curaleaf and Tilray which have moved to capitalize on the European market, which is projected to be worth €3.2B ($3.6B) by 2025.  
  • A poll found the population only slightly favors legalization. Germany has 83M people.

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