The leaders of the two parties backing its coalition government called on their deputies on Saturday to back legislation calling for harsh new austerity measures - needed for Greece to secure a new 130-billion euro bailout and to dodge the looming bankruptcy.

Ministers and lawmakers from former Prime Minister George Papandreou’s socialist PASOK party arrived at parliament on Saturday morning to discuss the legislation. Meanwhile conservative leader Antonis Samaras also addressed his parliamentary deputies.

Both Papandreou and Samaras told their respective parliamentary groups that without their votes, Greece would be forced into bankruptcy.

Antonis Samaras, New Democracy Party Leader, said, "The basic thing for us now, dear colleagues, is to get over this hurdle without causing greater damage and without preventing the passage of the new loan agreement, with which we can start moving from chaos to stability."

Samaras had opposed the initial bailout, worth 110 billion euros, that Papandreou, as Prime Minister, negotiated in May 2010. He said the measures it contained would worsen the debt crisis and result in a deep recession.

He now says he feels vindicated, but conditions have worsened so much lately because of the socialist government’s handling of the crisis, that social cohesion is at stake.

The parliamentary debate on the emergency legislation approving the new bailout and a debt-swap deal with private creditors was held at the committee level on Saturday. A plenary session will debate and vote on it on Sunday.