The outcome of the vote for the law on rules and procedures for debt restructuring with private creditors was not in question as two coalition partners, Pasok Socialists and conservatives of the New Democracy party, have 193 of 300 deputies in the parliament.
Three leftist parties as well as the extreme right grouping have already rejected the draft bill saying it would "be profitable for banks and monopols and not the population," according to the communist deputy Thanassis Pafilis.
Finance Minister Evangelos Venizelos pressed lawmakers during the debate to pass the legislation as debt deadlines loomed, warning the opponents of the law of "being unaware of the situation in which the country is."
Lengthy Eurogroup talks that ended early on Tuesday set a string of conditions that Greece must meet by February 29 if the 17-nation eurozone is to bail out Athens for a second time with 237-billion-euro ($310 billion) batch.
In Brussels, EU officials said eurozone finance ministers will meet on March 1 to assess Greece's readiness for a massive bailout.
The uncertain economic foundation for Greek bailout action was underscored again when the EU said a fifth year of recession would result in a 4.4-percent contraction of Greek gross domestic product (GDP) in 2012.
The eurozone accord provides Athens with loans worth 130 billion euros ($172 billion) to 2014, and a 53.5 percent writedown of privately-held Greek sovereign debt.
The second measure should slash 107 billion euros from the country's debt mountain of 350 billion euros.
The government hopes that 66 percent of private creditors will volontarily sign up to a bond swap deal, allowing Athens to impose a collective action clause (CAC) to force hold-outs to accept losses as well.
Earlier Venizelos said an official offer to private creditors must be made by Friday so a debt swap could be concluded by March 12 for bonds governed by Greek law.
Otherwise, "Greece will face a problem with its reserves on March 14" when it must repay debt of nearly 14.5 billion euros, the finance minister warned.
Greece, stuck in recession for five years and with unemployment above 20 percent and rising, has had to revise up its public deficit targets meanwhile.
In Washington, an International Monetary Fund official acknowledged that IMF participation in a second Greek bailout was essential to make it work.
The Fund has still to decide its own level of participation in the latest rescue package, the official said.
The IMF's role is crucial to ensuring that both the private sector and Greece's eurozone partners contribute to a joint effort.
The parliamentary vote on Thursday came a day after Greek unions staged another protest in the capital and Greece's second city Thessaloniki against austerity measures.
On Thursday, hospital workers called for strike in a protest of announced cuts.
The parliament is to debate next a 3.2 billion euros ($4.2-billion) in spending cuts crucial to the bailout deal, that should be approved by Thursday the latest.
Reforms to the health care system aimed at additional cost cuts of up to one billion euros in 2012 by merging hospitals were to be voted next Wednesday.
The austerity measures must be approved before elections expected in April which pollsters say could fail to produce a clear majority, clouding prospects for implementation of the debt accord.