Greek Default: Why Europe Thinks It May Not Be So Bad

European leaders are beginning to accept the idea that Greece will be forced to default on its debt, causing a long-feared "credit event" that triggers billions of dollars of credit default swaps, according to a cnbc report.

Financial markets have been worried for months about such an event, fearing that it would spark another financial crisis similar to the one that was triggered by the collapse of Lehman Brothers in 2008.

But European leaders are becoming less worried about the impact such an event would have on the global financial system. There are two reasons for this: an involuntary Greek default would not come as a surprise to financial markets, and the amount of money involved would be relatively small….

Find out more at http://www.cnbc.com/id/46116319