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Greece's third aid program may be on its way

Greece may be in line for its third aid package from European Union paymaster Germany, according to a report by influential German magazine Der Spiegel.

Germany's finance ministry, led by minister Wolfgang Schaeuble, has prepared a five-page plan for a new 10-20 billion euros ($13.5-$27 billion) aid package for the struggling Mediterranean state, according to the report in Der Spiegel which has been denied by the ministry.

The ministry told CNBC that it would wait to see how the current program was running and discuss further actions later this year.

Louisa Gouliamaki | AFP | Getty Images

(Read more: Why hedge funds are wary of Greece)

The plan includes a "limited follow-up program" to the two bailouts worth 237 billion euros, which have already been received by Greece from the troika of international lenders including the European Central Bank (ECB), European Commission and International Monetary Fund (IMF).

Such a plan might not be popular in Germany, which has been the biggest euro zone contributor to bailing out Greece, Portugal, Ireland and Spain during the crisis.

(Read more: Greece's bailout exit is on track: PM)

Greece's government expects it will finally exit a disastrous six-year recession this year, and be able to raise money by selling bonds. There are still serious concerns about its economic future, with unemployment of around 28 percent, and household incomes down by by around 40 percent, according to the Greek Small Business Institute.

- By CNBC's Catherine Boyle. Twitter: @cboylecnbc.

Contact Europe: Economy

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