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Originally posted by davelu99 (in part)
Greek letters are used to identify each organization. Although the reason Greek is used is unknown, it is probably because of the Ancient Greeks being one of the first philosophical societies on Earth.
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The reason is not really that unknown at all. In the post-Enlightenment era when the first Greek-letter societies were formed, the study of the Classics -- ancient Greek and Roman texts, in the original languages -- was a standard part of any learned person's education. The Classics were seen as the basis of Western civilization and philosophy, and in America as the basis for democratic ideals. Moreover, Latin and, to a lesser extent Greek, had long been used for purposes like mottos.
It was natural, then, for the first fraternity -- Phi Beta Kappa, which was based on classical values -- to adopt a Greek motto. The group soon became known by the three Greek letters that represented its (then) secret motto. Other fraternities, and later sororities, followed suit.
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Other than language, Greek organizations have very few, if any ties to actual Greek heritage.
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I wouldn't make quite such a broad generalization. Many GLOs draw on Greek mythology and philosophy with regard to their rituals and principles/values.