The Colosseum is in an unacceptable state and restoration work should begin on it as soon as possible, Rome Mayor Gianni Alemanno said on Tuesday as the city celebrated its 2,762th birthday.
The mayor told Culture Undersecretary Francesco Giro he hoped the restoration of the ancient Roman monument would be underway before Rome celebrates its next birthday on April 21, 2010.
Legend has it that on April 21 753BC, Romulus marked out the walls of the city by plowing a line encircling an area of flat ground between the seven hills.
This was such an important event for Romans that they counted it as the starting date for their calendar. Instead of BC or AD, dates were labeled AUC, for ab urbe condita ('from the founding of the city').
Giro told reporters he envisaged revamping the entire archaeological area but as this would require a huge investment it would have to be funded by sponsors such as major Italian banks.
The Colosseum or the Flavian Amphitheatre (its proper name) is perhaps the most visited archeological site and museum in the world with some four million visitors a year.
Construction on the city's iconic monument started between 70 and 72 AD under the Emperor Vespasian.
It was completed in 80 AD by Titus, who financed the project from the booty his armies seized in the war against the Jews in 66-70 AD.