The media have been among the hardest hit sectors over the last three years of the economic crisis in Greece, reports America's National Public Radio (NPR).
Some 4,000 journalists are said to have lost their jobs due to the closure of several newspapers and TV outlets. Others are on the verge of closing.
And NPR's Sylvia Poggioli reports that people believe the country's news media have failed to cover the crisis properly, partly due to the close connections between owners, politicians and financiers.
She quotes freelance journalist Nikolas Leontopoulos as saying that Greek media owners cared more about winning state contracts for their other businesses rather than earning money from their media outlets.
Poggioli writes: "This exchange of favours — news outlets that won't criticise the government or the banks in return for public works contracts and loans — contributed to one of the most inflated media sectors in Europe."
In 2009, there were 39 national dailies, 23 national Sunday papers, 14 national weekly papers, and dozens of TV and radio stations for a population of 11 million.
Though some titles had a circulation of just 100 copies they survived due to ads by state-owned businesses. Now the crisis has wiped out both public works and advertising.
The result: circulation is plummeting, media outlets are closing, and many media owners are no longer able to pay back bank loans.
Opinion polls show the media's credibility has plunged. And many reporters who still have jobs have seen their salaries slashed up to 40%.
But Poggioli points out that independent online start-ups are filling the vacuum. She mentions a site called The Press Project, which has 11 staff members and 10 paid freelancers.
Its journalists have uncovered numerous questionable transactions after analysing public works contracts and tenders. One of its staff, Pandelis Panteloglu, said: "We haven't actually seen serious public dialogue in Greece for decades now. Well, it was about time."
Source: NPR
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