Arsenal have lost seven of their 12 Premier League games this season and four defeats on the trot at the Emirates is their worst run of form at home since 1959.
The Gunners are lying in 15th in the league table and Arteta is now facing question marks over his long term future at the club, just a year after he took charge of Arsenal.
However, Breen stressed that the Spaniard must get more time as there is unlikely to be a quick fix at Arsenal as they do not have the funds to radically overhaul their squad in the transfer window.
He also feels Arteta cannot be solely blamed for Arsenal’s problems as their recruitment has been shoddy for some time.
The former Premier League defender said on Off The Ball: “I genuinely believe he should be given more time.
“I don’t think it’s a case of getting rid of him as much as I do think it does take time.
“But I don’t think Arsenal have the financial muscle to change that very quickly in terms of getting rid of these players.
“The frustration and the stick to beat him with is that signings like Willian have not produced.
“But Arsenal have a history of that as there is a young centre-half they signed in [William] Saliba for €30m and he doesn’t even make the squads and they are looking to move him on.
“You can’t lay everything at Arteta’s door and it is going to be a slow one as he will have to integrate those younger players and give them opportunities in the big games.
“Whether or not they are good enough and get Arsenal back to where they believe they belong remains to be seen.”
Arsenal are set for another tough game this evening against Ralph Hasenhuttl’s Southampton side at the Emirates Stadium.