Thieves have stolen jewels and treasures worth up to a €1 billion from a German museum that stores Europe’s largest collection of court riches.

The intruders deactivated alarms by cutting the electricity supply in Dresden’s Gruenes Gewoelbe, or Green Vault museum, Bild newspaper reported.

Police sealed off the building in Dresden’s Baroque city palace and said they were still trying to work out what was missing.

Police spokesman Marko Laske said: “We have not identified a perpetrator and nor have we yet made any arrests.”

There was no immediate comment from museum staff.

German Chancellor Angela Merkel…

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