Treasure worth billions found

A Spanish galleon that sank in 1708 was loaded with gold coins, silver and jewels

Colombian President Juan Manuel Santos on Saturday hailed the discovery of a Spanish galleon that went down off the South American nation's coast more than 300 years ago with what may be the world's largest sunken treasure.

At a news conference in the northern port city of Cartagena, Santos said the exact location of the galleon San Jose, and how it was discovered with the help of an international team of experts, was a state secret that he'd personally safeguard. The ship sank somewhere in the wide area off Colombia's Baru Peninsula, south of Cartagena.