[java] Error launching Eclipse 4.4 "Version 1.6.0_65 of the JVM is not suitable for this product."

I have a problem launching Eclipse 4.4 on my Mac. I'm getting the following error: "Version 1.6.0_65 of the JVM is not suitable for this product." I have the latest version installed. When I'm running java -version I'm getting:

java version "1.8.0_05"
Java(TM) SE Runtime Environment (build 1.8.0_05-b13)
Java HotSpot(TM) 64-Bit Server VM (build 25.5-b02, mixed mode)

Here is my eclipse.ini file where I already tried to explicit set the -vm parameter to my jdk1.8:

-startup
../../../plugins/org.eclipse.equinox.launcher_1.3.0.v20140415-2008.jar
--launcher.library
../../../plugins/org.eclipse.equinox.launcher.cocoa.macosx_1.1.200.v20140603-1326
-product
org.eclipse.epp.package.standard.product
--launcher.defaultAction
openFile
-showsplash
org.eclipse.platform
--launcher.XXMaxPermSize
256m
--launcher.defaultAction
openFile
--launcher.appendVmargs
-vmargs
-Dosgi.requiredJavaVersion=1.7
-XstartOnFirstThread
-Dorg.eclipse.swt.internal.carbon.smallFonts
-XX:MaxPermSize=256m
-Xms40m
-Xmx512m
-Xdock:icon=../Resources/Eclipse.icns
-XstartOnFirstThread
-Dorg.eclipse.swt.internal.carbon.smallFonts
-vm 
/Library/Java/JavaVirtualMachines/jdk1.8.0_05.jdk/Contents/Home/bin/java

Your -vm argument seems ok BUT it's position is wrong. According to this Eclipse Wiki entry :

The -vm option must occur before the -vmargs option, since everything after -vmargs is passed directly to the JVM.

So your -vm argument is not taken into account and it fails over to your default java installation, which is probably 1.6.0_65.

Here's how to fix this error when launching Eclipse:

Version 1.6.0_65 of the JVM is not suitable for this product. Version: 1.7 or greater is required.

1. Go and install latest JDK

2. Make sure you have installed 64 bit Eclipse