This article is from the Classical Studies FAQ, by Richard M. Alderson III alderson@netcom2.netcom.com with numerous contributions by others.
Technical Answer:
Ancient Greek had dialects and regional inflections, so asking how it was
pronounced is like asking how English is pronounced today. The original
inhabitants of Greece were not Greek-speakers, but spoke a lost non-Indo-
European language (traces remain in some place-names).
People who spoke what we call the Greek language migrated into the Balkan
peninsula during the Aegean bronze age, ~2200BCE.
From about 1200BCE to 850 BCE, there were several migrations of Dorians,
themselves Greek speakers, into the Peloponese, following the demise of the
Mycenaean realm.
There were at least five main dialects of Greek spoken during this time: Ionic,
Aeolic, Arcadian, Doric, and North-West Greek.
Prior to the demise of Mycenae, there seems to have been a North/South split in
Greek dialects, with Arcado-Cypriot and Attic-Ionic descending from South
Greek, and Doric and Aeolic from North Greek. This accords better with the
early inscriptions than the East/West division usually noted in older textbooks
on the basis of post-Mycenaean data only.
Since the 19th Century, much of the pronunciation of the Attic dialect has been
well described, based on rigorous principles applied to close readings of the
descriptions of ancient grammarians. The pronunciation of the consonants has
been accepted for more than a century; the vowels have been well-known for more
than 50 years; and with the advances of modern linguistics in such areas as
accentology we now have a very good idea of how the accent system worked.
Practical Answer:
It depends on who you ask. Most Europeans and Americans use what's called the
"Erasmian" pronunciation, which is nothing like modern Greek. Native speakers
of Modern Greek use the Modern Greek pronunciation. Others use less common
systems.
We will describe two pronunciations, the Erasmian (traditional in most European
and American schools) and the linguistic. We will assume an educated southern
American accent in our examples, as well as using the ASCII version of the
International Phonetic Alphabet (as devised by Evan Kirshenbaum, and available
at http://www.hpl.hp.com/personal/Evan_Kirshenbaum/IPA/).
Letter Erasmian Linguistic IPA Example IPA Example a'lpha a father a father be~ta b baker b baker ga'mma g girl g girl de'lta d dog d dog e` psi'lon E get e gait (without the i-offglide) ze~ta z zoo zd buzzed e~ta e: gate E: head (longer than in "get") the~ta T thin th tin (that is, aspirated as in English) io'ta i beet i beet ka'ppa k scat k scat (that is, unaspirated) la'mbda l list l list mu~ m mom m mom nu~ n not n not o` mi'kron O,o caught, o coat (without the u-offglide) coat ksi~ ks picks ks picks pi~ p spat p spat (that is, unaspirated) rho' r rock r rock si'gma s sat s sat tau~ t stack t stack (that is, unaspirated) u` psi'lon y cute, u boot French du, German Pruefung phi~ f folly ph perfect (that is, aspirated as in English) psi~ ps oops ps oops khi~ x Scots loch, kh cat (that is, aspirated as in English) German Bach o~ me'ga o: boat O: law, cawed (long vowel)
omikron+upsilon u: boot o: boat (without the u-offglide epsilon+iota ej bait e: bait (without the i-offglide) alpha+iota aj bite aj bite long alpha+iota a: <= alpha> a:j bide alpha+upsilon au cow au cow omikron+iota oj boy oj boy eta+iota e: <= eta> E:j stayin' (participle, spoken rapidly) omega+iota o: <= omega> O:j sawin' (participle, spoken rapidly)
 
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