Arsenal were knocked out of the Europa League on Thursday night by Olympiacos following a 2-1 loss at the Emirates.
Arsenal had a 1-0 lead heading to the match but failed to capitalize as they suffered a 2-1 loss, thanks to Youssef El Arabi's goal in the dying minutes of extra time. Pape Abou Cissé scored a second-half goal to send the tie into extra time. Pierre-Emerick Aubameyang was on target in the 113th minute, a goal that seemed to have sealed the victory for the Gunners.
Youssef El Arabi netted the winner as the Greek side advanced to the last 16 of the tournament and Arteta admitted the results 'hurts big time'.
"It hurts, big time," Arteta said.
"We had a lot of hope in this competition. It was a great way for us to be able to go to Europe and it is a very beautiful competition to try to win. I think we did a lot of positive things in the game. I think we created enough chances to win the game, but if you concede two set-pieces again in a tie like this, then you put yourself in big trouble."