It was the second major museum theft in as many months in debt-crippled Greece, and a culture ministry unionist said spending cuts have compromised security at hundreds of museums and ancient sites across the country. With unemployment at 21 percent and Greece's economy in its fifth year of recession, crime, poverty and homeless rates also have been increasing.
Friday's robbers targeted the museum of the ancient Games at Olympia, a few hundred yards away from the world heritage site's main museum that contains priceless statues and bronze artifacts excavated at the holiest sanctuary of ancient Greece.
Officials said 65 artifacts were stolen by the robbers, who tied up the only site guard, a 48-year-old woman.
Culture Minister Pavlos Geroulanos submitted his resignation after the morning robbery, but it was unclear whether it had been accepted by Prime Minister Lucas Papademos. Geroulanos traveled on Friday to ancient Olympia, some 210 miles southwest of Athens.
"This is a very sad day ... a tragedy," ministry Secretary-General Lina Mendoni said.
Police in Olympia and neighboring regions set up roadblocks for the thieves, who are believed to have escaped in a car driven by an accomplice, while a police helicopter combed the area and special investigators were rushed in from Athens.
"According to the results of the investigation so far, unknown persons, this morning, at about 07:34 a.m., immobilized the guard of the museum and removed bronze and clay objects from the displays, as well as a gold ring," police said.
Police have provided a hotline for the public to provide information that could lead to the thieves' capture.
A culture ministry official said the stolen antiquities dated from the 9th to the 4th centuries B.C., apart from the seal-ring which dates to Late Bronze Age Mycenaean times and was found in another part of southern Greece.
"They took small objects made of bronze and pottery -- figurines, vases and lamps -- and the ring," the official said. "The artifacts were behind reinforced glass panels which fracture like a car windscreen, and the thieves grabbed whatever small objects they could reach through the holes they opened."
Because the stolen artifacts have been displayed and catalogued, it is impossible for them to be sold in the open market.
Officials said the robbers seemed to have poor information on the museum, asking the guard where they could get golden wreaths and a valuable stamp collection -- which are not part of the display.
"They seem to have operated more as if they were carrying out a holdup" rather than a professional museum heist, the ministry official said.
The ancient Olympics were the most important sporting festival in ancient Greece, held every four years and lasting up to five days. They started in 776 B.C. and lasted until A.D. 394 when Roman emperor Theodosius abolished the festival, deeming it pagan. The site hosted an Olympic event during the Athens 2004 Games, when the shot-put was held in the ancient stadium.
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