Sections of the Parthenon Marbles, also known as the Elgin Marbles. Getty Images
Sections of the Parthenon Marbles, also known as the Elgin Marbles. Getty Images
Sections of the Parthenon Marbles, also known as the Elgin Marbles. Getty Images
Sections of the Parthenon Marbles, also known as the Elgin Marbles. Getty Images

British MP decries Greek 'opportunism' after archaeologist's museum theft remarks


Gillian Duncan
  • English
  • Arabic

A senior British MP has accused Greece of “blatant opportunism” after an archaeologist said the British Museum is “not safe” following the revelation that a large number of artefacts have gone missing from its collection.

Earlier this week it emerged that close to 2,000 artefacts were missing from the museum, with their combined value running into the “millions”.

The institution, one of the world's most famous museums, revealed last week that it was taking legal action against an unnamed member of staff – who was subsequently sacked – after items from its collection were discovered to be missing, stolen or damaged earlier this year.

Tim Loughton, the Conservative chairman of the British Museum All-Party Parliamentary Group, told BBC Radio 4's Today programme on Wednesday that news of items going missing from the museum's collection in London is “damaging” but the institution is taking the thefts “seriously”.

The MP, who has been in touch with the museum, added: “For reassurance, people want to know the extent of the objects which have disappeared, what investigations took place at the time when various reports came in and what is being done now because otherwise (it's) getting out of hand.”

“What is particularly damaging is (the) blatant opportunism of the Greeks and others saying 'Oh no, the British Museum is not safe …' It's incredibly rare that things go missing,” he said.

Earlier, director of the Association of Greek Archaeologists Despoina Koutsoumba said: “We are very much worried how many Greek items were [among] these stolen items.”

“We want to tell the British Museum that they cannot any more say that Greek cultural heritage is more protected in the British Museum,” she told BBC Radio 4's World Tonight programme on Tuesday.

Greece has been campaigning for decades for the return of the Elgin Marbles, which once adorned the Parthenon on top of the Acropolis in Athens.

“They have to return the Parthenon marbles back because they are not safe in London,” Ms Koutsoumba said, adding that the security issues exposed by the thefts are a “problem for all museums in the world”.

The museum has not specified how many items have been stolen or detailed what the missing items are, saying only that they were “small pieces” including “gold jewellery and gems of semi-precious stones and glass dating from the 15th century BC to the 19th century AD”.

The thefts happened over at least two decades, according to reports.

Athens has long claimed the Elgin Marbles were illegally acquired during a period of foreign occupation, while British officials have rebuffed repeated demands for their return.

Late last year, the British government warned the museum it was not legally allowed to break up its vast collection, after news emerged about secret talks about the return of the marbles, which were taken from Athens 200 years ago.

The 2,500 year-old sculptures were removed under a request by British diplomat in the early 19th century when he was ambassador to the Ottoman Empire.

Under the 1963 British Museum Act, which updated previous legislation, the museum can only sell or give away items from its collection under limited conditions. The process would involve it seeking a special licence from the government to break up the collection.

The British Museum says its entire collection stretches to more than eight million objects, and only about 80,000 of them are on public display at any one time.

They include many items now considered by other countries as loot taken by builders of the British Empire, and the government has long been wary of setting a precedent with the marbles.

The British Museum has ruled out returning the marbles, which include about half of the 160-metre frieze that adorned the Parthenon, insisting that they were legally acquired.

Christopher Marinello, a lawyer and expert in recovering stolen art, said the thefts by the museum’s former employee exposes it to questions over the safety of the ancient sculptures.

He said: “It makes one wonder whether the Parthenon Marbles are safe in the British Museum after all, and perhaps they should be returned to the museum in Athens for their security.”

Mr Loughton was also asked about emails leaked to BBC News that claim the British Museum was alerted to the thefts in 2021 and ignored the report.

The British Museum in London. Getty Images
The British Museum in London. Getty Images

He said: “With respect, all that's come out is a few emails rather than the bigger picture.

“But the British Museum will need to account for that because if people are trying to report potential objects having appeared outside of the museum then absolutely those need to be investigated and potentially referred to the police.

“So what action was taken? What checks and balances are there at the museum?

“Also putting into context … the British Museum has the most online documentation online in the world. There are over two million objects available online to see.”

The Telegraph has reported that the number of stolen items is believed to be “well over 1,000” and “closer to 2,000”, with a value running into “millions of pounds”.

An independent review of security has been launched and the matter is also under investigation by the economic crime command of the Metropolitan Police.

No arrests have been made.

The review will be led by former museum trustee Sir Nigel Boardman and Lucy D'Orsi, Chief Constable of British Transport Police.

The Laughing Apple

Yusuf/Cat Stevens

(Verve Decca Crossover)

Specs

Price, base: Dhs850,000
Engine: 3.9-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 591bhp @ 7,500rpm
Torque: 760Nm @ 3,000rpm
Fuel economy, combined: 11.3L / 100km

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Updated: August 23, 2023, 1:51 PM