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The Greek letter naming of variants is through the WHO. This is a shorthand for the public to use as they discuss viral variants. Their rationale for deciding when a new variant is named is a combination of sequence analysis and other immunology data. In scientific articles, a different naming system is used, called PANGO. As new variants are identified through sequence, they receive PANGO names so that they all can be discussed individually and not under a general “Omicron” name. It is unclear when a Pi or other Greek letter name will be used as this virus mutates.Here is an article on CNN.Com with further detail: