Mon, May 28, 2012, 3:16 PM EDT - U.S. Markets closed for Memorial Day

In near-bankrupt Greece, crisis spurs gold fever

The new gold rush: Amid austerity, Greeks with shovels follow myths of long-lost treasure

GREVENA, Greece (AP) -- Not all Greek myths are ancient.

In rural towns and villages, where millennia-old pottery shards and broken classical masonry are sometimes found, shepherds and farmers have similar tales to tell.

They cite the buried golden sow with its seven golden piglets (which made a poor farmer rich), the coin hoards guarded by dragons from the times of Alexander the Great or the Byzantine emperors, the gold plunder squirreled away by long-dead Turkish pashas or fleeing Nazi officers. All it takes, they say, is a lucky thrust of a shovel.

Legends like that have taken on a new life in debt-crippled Greece.

As two years of austerity take a harsh toll — with shrinking salaries, rising taxes and record unemployment for many — more and more Greeks are finding solace in tales of buried riches, mostly from the past two centuries of the Mediterranean nation's turbulent history.

"It used to be just a couple of groups of people who all knew each other, now everybody has got worked up," self-described amateur gold hunter George told The Associated Press. "They bring maps, pass on tips, but as usual nobody finds anything. The crisis has spurred many people to seek a windfall."

He asked not to be further identified as what he does is illegal.

The 40-year-old said at least 10 attempts have been made to dig up buried gold over the past few months around Grevena, a farm town of 10,000 in western Macedonia, some 400 kilometers (250 miles) northwest of Athens, the capital. The region saw heavy fighting between occupying German troops and resistance fighters during World War II.

"They even dug through a huge rock mass, believing they would find buried sovereigns parachuted in by the British to the resistance fighting the Germans," he said.

A 49-foot (15-meter) tunnel into a hill just outside Grevena, which still contained a pick and a mask, testifies to the fruitless efforts of five men arrested by police a few days ago.

Authorities said the men, all in their 40s, used farm and construction tools, a generator and hand carts to dig the tunnel, whose entrance they camouflaged with an old rug.

"They said an old man showed them the spot, claiming there was treasure there, but did not specify exactly what they were seeking," Grevena police chief Theophilos Soultis told the AP.

Even in central Thessaloniki, Greece's second-largest city, urban legend has it that construction work on the site of an old Turkish house unearthed chests of gold coins — prompting truckers driving its soil away to a landfill to sieve through their loads first.

Their labor was to no avail.

Maps of purported treasure spots sell for thousands of euros (dollars) — but more often than not they are artificially weathered fakes.

One of these maps inspired seven people to sink a 36-foot (11-meter) well into the ground near an abandoned quarry at Pentalofo, 16 miles (25 kilometers) north of Thessaloniki. Despite taking the precaution of working only after dark, they were arrested and face up to five years in prison if convicted of carrying out an illegal excavation.

"We get lots of people searching in our area, because the Germans worked the quarry during the war and many believe they left gold behind," said local deputy mayor Giorgos Lazaridis who oversaw work to fill in the hole.

"There are lots of rumors, some say that gold sovereigns have been found, but nothing can be confirmed," he said, adding that one group obtained a legal permit to dig years ago but found nothing.

A similar project is under way in the hills of Varvara, in the Halkidiki peninsula 70 miles (110 kilometers) east of Thessaloniki. After two false starts, the treasure hunters launched operations again, working off a new tip.

"They're looking for gold that is supposed to be enough to pay off Greece's national debt" of more than euro350 billion ($457 billion), said municipal official Stergios Goutsios, who is monitoring the dig. "They claim it weighs tons and was hidden by a band fighting the Turks in 1860-70, when they were trapped in an ambush."

Such legitimate hunts, which require a slew of official permits, have been carried out all over Greece in recent years, overseen by state archaeologists and police.

"Anyone who thinks they have information on buried treasure has the right to look for it, provided they obey the law," said Giorgos Dimitrainas, an assistant professor of law at the University of Thrace. "Their share of the finds is determined by ministerial decision."

But Greek law contains pitfalls for the unwary, even in the vary rare cases when they strike it rich. In 2003, legitimate treasure seekers unearthed thousands of ancient coins buried near the town of Pella, some 60 miles (100 kilometers) west of Thessaloniki. State officials ruled however that the group had no claim on the treasure as their permit stipulated that they could look for gold, not antiquities.

For Greece's treasure seekers, even that should not be a sufficient deterrent.

"People who look for gold are maniacs, they never give up until they find something," said another self-described former treasure hunter, 34-year-old Panagiotis. "It's like gambling."

 

57 comments

  • Wags  •  5 months ago
    Notice they don't look for buried euros...
    • Tyler 5 months ago
      LOL!!! Comment of the week!
    • MoHawk 5 months ago
      Those are being printed in Frankfurt not Greece.
  • forrest p  •  La Vergne, Tennessee  •  5 months ago
    We're headed in the same direction here in the U.S.A.
    • mac 5 months ago
      Yep thats Obamas plan
    • MoHawk 5 months ago
      Yep the Banksters will have their financial collapse.
    • Tammy 4 months ago
      In the state of kentucky, people are stealing the man hole covers in the street and selling them for scrap metal. I has already begun.
  • Hairy Ellis  •  5 months ago
    That's what socialism leaves you with... dreams. Instead of being able to fulfill them in real life .
    • MoHawk 5 months ago
      Actually this is caused by the success of Capitalism not the failure of Socialism. In Iceland they said #$%$ banksters you caused the problem solve it yourself. (Socialism at work) and they are already out of the problems. Greece should do the same. BTW the USA should do the same too. Unfortunately the American working class enjoys being screwed over by Banksters too much.
    • Bryan 5 months ago
      What America has had for many years is not capitalism, Iceland actually used a free market/capitalist approach & it worked. The free market works this crap in the USA doesn't -they have privatized profits & pass losses to taxpayers
  • Mark  •  5 months ago
    Hey a fool and their money are soon parted...not the rest of the worlds problem, if Greece bails out Detroit than we give them a few million...that's right when the US ecnomy tanked in 2008 what county bailed out the American tax payer...no one so let Greece melt.
    • MoHawk 5 months ago
      You're one of those fools thinking that your problems are caused by Greece. They are caused by Banksters, Greece is just a couple of years ahead in the same problem America has.
  • Roms  •  Phoenix, Arizona  •  5 months ago
    At least the work is "SHOVEL" ready!
  • thale138  •  Portland, Maine  •  5 months ago
    that old man should have sold them a treasure map with gold located just about where he wanted that well dug, or the foundation hole for his barn. Im wondering, well, no Im not, why they had municipal workers filling in the hole while the diggers sat in jail living for free.
  • Honchou  •  5 months ago
    Socialism is a disease that must be eradicated before it kills the whole body.
    • MoHawk 5 months ago
      Stupidity is way more dangerous. It causes you for instance to forget that the current economic problems are caused by the banksters. Repeating Fok-us news isn't going to solve any problems only continue the crime perpetrated against the American taxpayers. Remember those bailouts ? They are still taking place (in secrecy) By donating tax-revenue to international banks.
  • S  •  5 months ago
    Greece is bankrupt and USA will be next with 150000000000000000000000... dollars debt
  • Ready Now  •  Miami, Florida  •  5 months ago
    I wonder if our grand kids and great grand kids will hate us when they discover that we let our government borrow trillions and redistribute to people they will never know and pass the bills on to them to pay? That we have permitted our government to knowingly reduce their standard of living because we won't pay our own way today.
  • Johnny Randal  •  Manchester, United Kingdom  •  5 months ago
    Greece is Bankcrupt......
  • Vu  •  5 months ago
    The Greek should build several casinos Vegas size there. That might help.
  • ANONYMOUS  •  5 months ago
    legend has it that a indian city of gold was under my back yard exactly three feet from the back fence and suppossedly is the hidden exactly at the depth and length of a really nice swimming pool good luck I have shovels!
  • ZAP  •  Austin, Texas  •  5 months ago
    There is Gold to be had, not in the ground but in the wallets of tourists. Put the shovel down and start rebuilding a profitable industry. And open up the artifact market for fun and PROFIT.
  • Billy  •  Milford, Massachusetts  •  5 months ago
    Hey, The Austerity plan is a success...they're getting off their rear ends and doing some WORK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
  • anonymous  •  Argyle, Texas  •  5 months ago
    These people are as out of touch with reality as it gets. There is not one chance for them to pay off their debts as they just don't get it. Let em default and wallow in their own mess, maybe then they'll finally figure it out!
  • somebody  •  5 months ago
    First your brother begs for a apple when hes starving. Then he shoots you in the head and takes it when his family is starving
  • Manuel  •  Manila, Philippines  •  5 months ago
    what happened to "THE CRADLE OF CIVILIZATION"?
  • kt  •  5 months ago
    Greece just have to relax and enjoy now, their hands are holding ECB and IMF balls now....
  • Jackyll  •  5 months ago
    There is no quick-fix for the economic problems facing Europe, never mind Greece. The banks are in trouble and their is zero money remaining to throw at the problem because they have run out of it. The worse is yet to come for Greece and the rest of Europe, as they will move to monetize their debt load by printing Euros to ease the pressure, temporarily. The real "fun" begins later, as those printing euros in masse, come back to haunt Europeans in the form of hyper-inflation ! America is no better and expect the attention on economic nightmare stories begin to leave Europe and re-focus back on the U.S. in the coming months.
  • notaradicalrepub  •  Panama City, Florida  •  5 months ago
    Yeah, its good for all three meals!
 
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