The Two-Way
7:47 pm
Tue June 19, 2012

LIVE: President Obama Holds A News Conference

Originally published on Tue June 19, 2012 8:33 pm

China and Russia are not aligned with the United States and the rest of the international community on the subject of Syria, President Obama said during a news conference following the G20 summit in Los Cabos, Mexico.

"It's not fair to say that Russia and China are signed on," Obama said.

The president said he had "candid" conversations with the leaders of both countries, which have rejected calls for international intervention in Syria. Russia has been accused by the United States of propping up the regime of Bashar Assad.

Obama said that both countries do agree that the situation is grave and that it "doesn't serve their interest" nor the Syrian interest.

He said he hopes all countries can continue to have a conversation in the next "week or two" and present a path forward for Syria.

President Obama also addressed the sovereign debt crisis that has threatened to rip the European Union apart.

Obama said that in talking to the European leaders, he was convinced that "they understand the stakes and that it's important to take bold and decisive action."

"I'm confident that Europe will paint a picture of where we need to go, and take some immediate steps" that will ease the market worries, Obama said.

Obama acknowledged that the European economy affects the United States economy and that all these things may end up having an effect on his reelection campaign.

"But that's not my biggest concern... my concern is folks" who are out of work, he said.

Obama also said that as the biggest economy in the world, the best the United States can do is "create jobs and growth in the short term even as we continue to put our fiscal house in order over the long term."

Our Original Post And Earlier Updates Follow:

President Obama is holding a news conference this hour. Obama is speaking at the conclusion of the G20 summit in Los Cabos, Mexico.

The president will issue a quick opening statement and then take questions from reporters. Obviously, he'll likely field questions about the precarious economic situation in Europe and about the situation in Egypt and Syria.

The White House will live stream the conference. We've embedded their video at the top of the post. We'll also update this post as the president speaks.

Update at 8:12 p.m. ET. Sending Signal To The Markets:

Obama says what Europe needs to do right now is send a signal to the markets and he is "confident they can do that."

Update at 8:04 p.m. ET. On Syria, China And Russia Still Not 'Signed On':

President Obama said that he had "candid" conversations with the Chinese and Russian leaders about Syria. The two countries have resisted U.N. sanctions against Syria and Russia has been accused by the United States as propping up the Bashar Assad regime.

"It's not fair to say that Russia and China are signed on," he said.

Obama said that both countries agree that the situation is grave and that it "doesn't serve their interest" nor the Syrian interest.

He said he hopes all countries can continue have a conversation in the next "week or two" and present a path forward for Syria.

Update at 8:00 p.m. ET. Congress Must Act:

President Obama said that if Congress acts on his jobs bill, it could have a significant impact on the unemployed in the country.

Update at 7:56 p.m. ET. 'Confident' Europe Can Implement Plan:

Obama says that talking to the European leaders he's convinced that "they understand the stakes and that it's important to take bold and decisive action."

Obama said he's "confident they can take the steps" necessary to bring the sovereign debt crisis under control.

"I'm confident that Europe will paint a picture of where we need to go, and take some immediate steps" Obama said.

Update at 7:51 p.m. ET. Europe Affects U.S.:

President Obama says that "slower growth in Europe means slower growth in the United States."

But President Obama said that economic problems in Europe won't be solved by the United States or the G20.

He said that's why he welcomes the fact that the European countries pledged to "take all necessary measures" to preserve the eurozone.

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