'Germany Delays Final Vote On Marijuana Legalization Bill Until Next Year' - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
Germany's final vote on a bill to legalize marijuana has been delayed until next year due to concerns from the Social Democratic Party (SPD). The delay is the latest in a series of postponements, with the bill's first debate and subsequent votes previously pushed back. Health Minister Karl Lauterbach defended the bill against criticism that it would increase underage consumption. Adjustments to the bill include increased home possession limits and the removal of jail time for minor possession overages. The phased implementation would start with possession and home cultivation in April, followed by social clubs in July. A second measure for commercial sales will be reviewed by the European Commission. The delay has caused disappointment among politicians and the public, with the German Hemp Association urging action. The bill will go to the Bundesrat after the Bundestag's final reading.

December 04, 2023 | 7:26 pm
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NEUTRAL IMPACT
The delay in Germany's marijuana legalization vote may have a neutral to slightly negative short-term impact on the iShares MSCI Germany ETF (EWG), as it postpones potential economic benefits from a new legal market.
While the legalization of marijuana in Germany could eventually lead to economic growth and increased tax revenues, the delay is unlikely to have a significant immediate impact on the overall German economy or the performance of the EWG ETF. The ETF tracks a broad range of sectors, and the marijuana industry is not yet established. Therefore, the delay's impact is likely to be minimal in the short term.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30