University of Denver Digital Commons @ DU Electronic Theses and Dissertations Graduate Studies 1-1-2016 How the Greek Press Constructed the "Greek Economic Crisis" Maria Elena Kuntz University of Denver Follow this and additional works at: https://digitalcommons.du.edu/etd Part of the Journalism Studies Commons, and the Mass Communication Commons Recommended Citation Kuntz, Maria Elena, "How the Greek Press Constructed the "Greek Economic Crisis"" (2016). Electronic Theses and Dissertations. 1121. https://digitalcommons.du.edu/etd/1121 This Thesis is brought to you for free and open access by the Graduate Studies at Digital Commons @ DU. It has been accepted for inclusion in Electronic Theses and Dissertations by an authorized administrator of Digital Commons @ DU. For more information, please contact [email protected],[email protected]. How the Greek Press Constructed the “Greek Economic Crisis” __________ A Thesis Presented to the Faculty of Social Sciences University of Denver __________ In Partial Fulfillment of the Requirements for the Degree Master of Arts __________ by Maria Elena Kuntz June 2016 Advisor: Nadezhda Kaneva, Ph.D. Author: Maria Elena Kuntz Title: How the Greek Press Constructed the “Greek Economic Crisis” Advisor: Nadezhda Kaneva, Ph.D. Degree Date: June 2016 Abstract Since 2008, there has been a surge of interest in and research on the relationship between news media and economic reporting, particularly as it concerns financial crises. The 2008 U.S. subprime mortgage crisis, quickly followed by the economic crisis that began to unfold in Greece in 2009, spurred researchers to examine how newspapers around the world report on the complex, globalized economy. In the pursuit of understanding transnational economic processes, publics rely on news media to provide information about the meaning of economic events, especially crises. As such, newspapers are key players in constructing the narratives of crises. This study explores how the “Greek economic crisis” was framed in Greek newspapers, as opposed to foreign, non-Greek newspapers. The dialectical process through which knowledge about the financial crisis is constructed is examined. Previous research has identified common journalistic frames in the coverage the Greek economic crisis by national newspapers from Western Europe, the Americas, and Asia. These frames emphasize cultural and social explanations for the crisis yet do little to analyze the underlying economic and political causes. Furthermore, these researchers did not examine Greek newspaper coverage of the crisis. The impact on knowledge construction that results from the tendency of researchers and the media to emphasize the press of politically powerful nations, rather than less powerful states, like Greece, is discussed. Using critical theory and frame ii analysis, the study examines how two Greek newspapers, Eleftherotypia and Kathimerini, described and framed the crisis in ways both similar and different from each other, and, yet, quite different from the ways in which foreign newspapers framed the “Greek economic crisis.” Key Words: Framing, Crisis, Greece, Economic Crisis, International Media, Social Constructionism, Greek Economic Crisis, Euro-Zone Crisis, Euro-Crisis, Newspapers iii Acknowledgements I am exceedingly grateful to the many people and organizations who have provided me with support and made this research possible. To my advisor, Dr. Nadia Kaneva, I extend my deepest, heartfelt gratitude. Thank you for your mentorship, guidance, patience, encouragement, and unending support. I also extend my gratitude to University faculty and staff who have supported this research: Dr. Polson, Dr. Rowe and Dr. Hanan, Dr. Thompson, Dr. Schofield Clark, Dr. Mahnke, Dr. Wexler, Dr. Dobrov, Dr. Schraeder, Jennifer Park and Sue Hinkin. The following organizations funded or otherwise supported my research over the past 10 years: Fulbright Foundation in Greece, Hellenic Foundation for European and Foreign Policy, Doctors of the World-Greece, The Athens Centre, DU Department of Media, Film & Journalism Studies, Graduate Students of the Four Faculties and the Graduate Student Professional Development Grant. I am deeply grateful for my many outstanding Greek teachers and the close friends and family who have supported me from start to finish. Thank you, Heath, Samantha, Noah, Diana, Cristina, Fernando, Caley, Ashruf, Adrienne, Linda, Javier, Jennifer, Robert, Monique, Steven, Molly, Michael, Hannah, David, Jacquelyn, Judith, Vincent, Cynthia, Tomas, and Jerrie for your support and encouragement. I owe a special debt of gratitude to my parents, James and Anna Kuntz. Thank you for your unending support of my education, travel and research—even when it was all Greek to you. Finally, to my son, Liam Lewis: Thank you for occasionally joining me in class, always wishing me luck, and generously sharing me with the academy. iv Table of Contents Chapter One: Introduction ...................................................................................................1 Naming the Crisis .............................................................................................................1 Historical Context of the Crisis ........................................................................................3 Chapter Two: Explication of the Problem .........................................................................10 Research Questions ........................................................................................................13 Chapter Three: Theoretical Framework .............................................................................16 Social Construction of Reality and the Market ..............................................................16 Framing Theory ..............................................................................................................18 Theoretical Approach of this Study ...............................................................................24 Chapter Four: Literature Review .......................................................................................26 The Media, Economic Reporting, and Crisis Coverage .................................................26 Journalistic Practices that Influenced the Framing of the Greek Economic Crisis ........29 Frame Studies of the Greek Economic Crisis ................................................................34 Counter Narratives .........................................................................................................38 Gaps in the Literature .....................................................................................................44 Chapter Five: Methodology and Study Design ..................................................................46 Reflexivity ......................................................................................................................47 Time Frame Selection ....................................................................................................48 Newspaper Selection ......................................................................................................49 Keywords and Article Selection .....................................................................................51 Identifying “Crisis” Naming Conventions and Greek Newspaper Frames ....................52 Chapter Six: Findings and Discussion ...............................................................................53 RQ1: What terms did Greek newspapers use to describe and name the crisis? .............53 RQ2: What frames were used by the Greek press to cover the Greek economic crisis and what is their prevalence in the coverage? ................................................................61 RQ3: Given the political nature of Greek newspapers, what similarities and differences exist between Kathimerini and Eleftherotypia – two newspapers that represent different parts of the political spectrum? ......................................................................................77 RQ4: How do the frames used by the Greek newspapers compare to those used by foreign newspapers to cover the Greek economic crisis? ..............................................84 Chapter Seven: Limitations, Questions for Future Research and Conclusions .................89 v Limitations and Contributions of This Study .................................................................89 Questions for Future Research .......................................................................................90 Conclusion ......................................................................................................................92 Bibliography ......................................................................................................................97 Primary Sources ...............................................................................................................108 Appendices .......................................................................................................................116 Appendix A: Greek Economic Crisis Timeline, October 2009-February 2016 ...........116 Appendix B: Complete List of Crisis Naming Conventions ........................................121 vi Chapter One: Introduction Since 2008 there has been a surge of interest in and research on the relationship between news media and economic reporting, particularly as they concern financial crises (Lee, 2014; Papathanassopoulos, 2014). Beginning