The 2004 European champions were barely recognisable on Friday as Joan Edmundsson's opportunist strike just after the hour mark left them bottom of Group F.
"You've destroyed us!" declared a headline in popular sports daily Goal News, adding: "Ranieri is finished and should have left already on his own accord."
The players were not spared either.
 "Shame on you!", said Goal, "A coach shouldn't even be needed to beat the Faroe Islands."
Another leading sports daily SportDay went a step further and spoke of "Murdered Football".
"A national shame!", added Fos. "Three home matches and three defeats; the titanic of the century."
Greece now have one point from four matches and their chances of reaching Euro 2016 are virtually over.
Despite calls for him to quit and reports that the Hellenic Football Federation (EPO) is set to terminate his contract, Italian Ranieri said he wanted to stay on and repair the damage.
"I believe the coach is always responsible for the results so naturally I take responsibility for this bad result tonight," Ranieri said.
"But I don't think now is the time to make any rash decisions; important decisions should not be made in the heat of the moment. I plan to stay in charge and lead this team into the next games."
Greece midfielder Panagiotis Kone was both humble and scathing in his criticism of the team.
"I don't want to talk about the game; the attitude was just so poor once again," added the Udinese midfielder.
"Neither Ranieri, nor (EPO president Giorgos) Sarris played in the match. We were the ones that took to the pitch and over four matches we have destroyed a team and spirit that has been built over 10 years following the success of 2004.
"Everyone need to take a long, hard look at themselves and watch some videos from the matches at Euro 2004. I would like to offer a huge apology to the supporters and Greek public in general who always support us. This is not the team they know."