FRANKFURT (MNI) - The German and French governments are working on a E30 billion bail-out plan for Greece with the consent of the European Central Bank and the Bundesbank, Austrian newspaper Kurier reported Friday.

The ECB and the Bundesbank had no comment.

According to the report, Germany and France are prepared to contribute up to E20 billion and E10 billion, respectively, to help Greece raise the E55 billion it needs to refinance its debt.

However, the two governments hope to spend less since markets should "take on the rest" once a bailout commitment is announced, the newspaper writes without specifying its sources.

Details of the potential transaction have not yet been finalized, the newspaper said. However, one option favored by the Germans would be to offer guarantees for E10 billion and buy Greek bonds via the state-owned bank Kreditanstalt fur Wiederaufbau (KfW).

In a meeting on March 2, German chancellor Angela Merkel reportedly cited the week before Easter as the timeframe for the bailout.

Bundesbank resistance to a bailout is waning as a Greek bankruptcy would cost German banks some E30 billion, the newspaper said.