After the approval of Greece's second bailout, Europe's top officials hailed the Greek efforts stating that the way the Greek debt crisis is tackled show that the crisis is coming under control.

Herman van Rompuy, president of the European Union Council, said we have reached a turning point in the crisis while being fully aware of the longer-term vulnerabilities.

He also referred to the role played by the ECB, especially after pumping further liquidity to banks.

On the other hand, EU Commission President Jose Manuel Barroso gave similar comments, yet he focused on the importance of enhancing growth.