matt: finance ministers will hold yet another emergency meeting to consider the greek government's request for a new bailout program. the new development coming hours before the country faces of financial meltdown. pimm: president obama and present president rousseff are scheduled to hold a joint news conference at the white house in just a few moments from now. we will have live coverage of that meeting. matt: we will look at the dramatic rise and fall in the price of rare earth metals. molycorp's pushed into bankruptcy. pimm: good afternoon. i'm pimm fox. matt: i'm matt miller. let's take a look at the markets. take a look at the equities market, games with a rebound from yesterday with s&p 500 up about four points, 2000 61 and

the dow jones up 1/10 of 1% at 17,006 hundred 17 and the nasdaq gaining .05 -- .5 of 1% up to 4980. at theet's take a look fixed income markets and bonds. pope, let's go to commodities. crude oil up 1% and $58 and 98 -- 58 point $96. moving higher in gold and falling down -- i spread moving up in gold down. let's look at the bond market in u.s. treasuries. a little bit of selling their -- ok, it changes. 232 for the tenure, yield of the 30 or so over 3% at 3.08, let's look at the dollar versus the euro. matt: no change really across the board. pimm: 1157 and the yen strengthening against the dollar, one 22 and the dollar versus the pound struggling. the pound has been one of the best-performing currencies. matt: it has a great story but

what i think is fascinating is there has been such a little movement in the euro amidst all these developments and emergency ups and down to the wire kind of thing. let's talk about some of the stories crossing the bloomberg terminal. the greek bailout program expires tonight. now, greece wants anyone. prime minister alexis tsipras asked for a two-year program that would cover all of greece's financial needs and also calls for it that restructuring. any ofn does not include the economic reform proposals that creditors have asked for. eurozone officials would discuss the greek request tonight and a new bill that would be greece is third in five years. of course, it is incredibly likely to happen as greece refuses to budge on austerity. hoping for the best but bracing for the worst regarding greece. an official from angela merkel's party says they think your past the defense is to stop contagion from the crisis. we have hans nichols standing by

in berlin. tell us what is going on and what is this revelation from a party official or a party colleague of on july merkel -- of angela merkel? has: the vice chancellor said, ok, fine, we would consider this request some of this new request for basically a bridge loan from alexis tsipras, but tsipras would have to agree to suspend and call off the referendum that is scheduled for sunday. it has been a remarkable to do ours. alexis tsipras retains his power to surprise and a total surprise move asking for this to your bridge loan to basically service all their internal and external debt. about 30 billion euros. he has made that request to the esm, the european stability mechanism, finance ministers are meeting in about one hour time to consider that. before we pulling you with the deal was and what the details were of this letter, we heard from people inside merkel's party that merkel have been

saying and merkel was very clear that she would not actually have agreed to a new program until after the referendum. now that the details are more clear, they are saying that they would open up talks it tsipras called off the referendum. that is the window that put the courtck in the tsipras' . if you wanted to call it off, you could have renegotiation start but they would start with capital controls in place, a bank holiday, and no apparent lack of from the ecb. just one quick question based on your reporting and the people you are talking with, is there any sense that anyone is actually in charge? ha well, itn is europe. everyone is in charge and no one is ins charge. i mean, at least according: to the dutch finance minister, he has gotten pretty good marks from his peers on how he is handling this. the problem and the frustration that they had and that they voice is that they get conflicting kind of comments and strategies from their partners in athens and they don't quite

know who they are negotiating with. for a while, mr. yanis varoufakis was the lead negotiator and then he was sidelined and then mr. tsipras has run on his counterpart and he is claiming that mr. tsipras is not honest with his own public, so i think from the european side, creditors have done a pretty good job of remaining united. the challenge is really who other negotiating in athens and what does athens c as the state? matt: i will take it from there, thank you very much. we will move on to domestic news. chris christie has made it official. the new jersey governor has become the 14th republican to join the phrase for the white house. chris christie made the announcement moments ago at his old high school in livingston, new jersey. chris christie: america is tired of handling weakness in the oval office and we need to have strength and decision-making and authority back in the oval

office, and that is by today, i am proud to announce my candidacy for the republican nomination for president of the united states of america. [applause] and businesseaders executives wanted chris christie to run in 2012 but he turned him down. some early backers at sign don and the home depot cofounder has signed on. pimm: moments from now, we are expecting to hear from president obama along with brazilian president rousseff at the white house. matt: relations between the two nations were strained after edward snowden and those leaks rousseff that said the u.s. spied on's government -- that spied on rousseff's government. we have bloomberg politics hq in new york city. >> you are looking at where president obama has posted brazilian president rousseff and they will begin a joint press conference. resident rousseff arrived last night and they have been talking

about the economy and the environment. is the first the love president of brazil back in 2003 -- -- the first female president of brazil aiken 2013. brazil -- i want to bring my friend al hunt in washington, d.c. given the history here, give us a sense of how awkward that meeting between president -- between the two presidents might have been of a kind of questions you expect them to get from our colleagues in the press? surely, it will be an awkward question about the spine edward snowden episode. i think the american press will probably focus on contemporary issues, iran, maybe a little the court rulings last week and affordable health care. i suspect a little bit less on brazilian-u.s. relations. john: do you anticipate this could be a little bit of a victory for president obama? he has had to address the aca

rolling and the gay marriage a relatively formal circumstance and this will be more uniform of circumstance. we have seen him in the past take victory laps of these kind of events very do you expect to do that today? got a lot ofhas victories to celebrate. last week was an externally week, as you know. ratings are up to 50% right now, so i think this is going to be a very upbeat president and he is not going to mind taking some kudos for what has happened over the last seven-10 days. john: one of the more externally things, this president has really been above 2% in approval ratings throughout his time in -- rarely been above 50% in approval ratings throughout his time in office suddenly at better political standing than he has ever been and particularly coming after the phil roe -- the thorough drubbing his party perceived last november, on the top of your head, included think accounts for that?

al: success. legislative success. the court ruled in his favor, he gave and extort nearly speech. i don't know when the poll was taken down in charleston, s.c.. look, john, he has been on a roll and i think that is reflected in folder attitudes. john: one of the rings that is true is that voters like to see the president standing tall and see them winning, even those who are not necessarily in favor of the president in office, they get a certain amount of credit just for notching those winds. president obama has had some looked ashe has though he is a fighter. to me, thatt seems the losses in the midterm elections galvanized him and liberated him to some extent, and he has been in a different washer and stance over the course of the last 6-7 months than he had been previously.

al, do you think, normally at this point in the presidency, we would be looking at lame duck could. do you think president obama still has victories he can not going forward or will he had into traditional territory of being a little bit lame and turkish? uckish? and d be no, i don't think he will duckish. willnk the iranian deal happen and they will look for transpacific trade pact that will probably get finalized by the end of this year and i suspect he will get approval from congress on that. and maybe other issues. he will be trying to set the agenda on climate change. not much will happen in congress. my guess is he will welcome pope francis with open arms in september as a soulmate on some issues, so i think you will see a very active president when the next 17-18 months.

ratings overoval 50%, specifically on the economy is over 50%, and it strikes me that heading into 2016, the widespread republican assumption that democrats, in particular hillary clinton, would distance themselves from the president they be an operative. let's go to the east room with president obama entering with president rousseff. president obama: good morning, everybody or good afternoon. it is a great pleasure to welcome my partner and friend president rousseff back to the white house. dilma? this is another opportunity for me to reciprocate some of the extraordinary hospitality that the people of brazil showed me and my family when we visited brazil. i want to go back. i did not get a chance to experience carnival.

vice president biden got to go to the world cup, not me. the eyes of the world will be on brazil again when they host the olympics next year, and that will be another reminder of brazil's remarkable rise both that home and on the world stage. as president, i pursued a new era of engagement with latin america where our country's work together as equal partners based on mutual interest and mutual respect. as we saw at the recent summit of the american does, the united states is more deeply engage in decades. i believe the relationship between the united states and latin america is as good as it has ever been. we are focused on the future, of what we can a comp us together. and the cornerstone of our engagement with the region is a strong partnership with rizzo. result.e art -- with

i believe we are natural partners in americas and around the world. as two of the world's largest democracies, we understand the aspirations of citizens to live thereedom, dilma, sacrifices you have made our testament to that determination. as to the multiracial multiethnic societies, we know they are stronger when they uphold the rights of all people, but 23 reflected on yesterday when we visited the memorial to dr. martin luther king jr. world's largest economies, we understand that lasting prosperity and confronting the injustices of poverty and inequality can only come when we truly invest in our people, their education, their skills instead of -- and have them live with the committee. these are enduring interests and values that bind us together. no relationship between countries is without disagreements and the united states and brazil are no different. it is often tempting, i suspect,

to focus on whatever challenges may be in the moment, but some steps that do not make the headlines, the work of our nation's has gone on and over the years, president rousseff and i have deepened the ties between our countries. we partnered on global challenges from promoting open government to combating human trafficking and advancing development in africa. since i took office, we boosted american exports to brazil by more than 50% and a bilateral trade has reached record levels surpassing $100 billion a year. we have expanded collaborations in science and technology and the ties between our people, especially our young people, as part of our 100,000 strong in the americas initiative and morbidly students come to the united states and more american students go to brazil. more brazilian students come to the united states and more american students go to brazil. national closely our interests and values outlined, there is much more that the

united states brazil can be doing together. dilma, i want to thank you for your personal commitment for the partnership and taking it to the next level. that is we have done today. a range of areas. first, we are announcing a series of new steps to boost trade and investment that creates jobs for our peoples. with brazil's announcement on infrastructure, american companies will have more opportunities to compete to develop results highways, airports, ports, and railways. we will make it easier and more affordable for them to hire workers in each other's countries. we will do more to help our size and medium-sized businesses and intrapreneurial connect on export. as leaders in science and technology, we have agreed to increase partnerships between our colleges and universities as we develop the next generation of sciences and researchers. second, as major economies, the u.s. and brazil will lead in the fight against time and change. , r two donations have

reduced carbon emissions more than any other countries in the world. brazil, this includes very impressive efforts over the past decade to combat deforestation, including in the amazon. the is sometimes called lungs of the planet. together, our countries are leading in clean energy, and today we are taking important new steps as we work toward a strong global climate agreement in paris. i think our brazilian friends for previewing elements of the 2020 targets, including substantial new goals to eliminate illegal deforestation and restore forests. both of our nations stand close on clean energy. beyond hydropower, the united states and brazil into increased the share of electricity generated from renewable energies to 20% iv year 2030. -- five the year 2030. these are ambitious old and to blame for the united states and more than double brazil's current output. following progress from my trips

to china and india, this shows the world's major economies can begin to transcend some of the old divides if we work together to confront the common challenge that we face, something we have to work on for future generations and i'm confident that this will lead to a strong outcome in paris. third, we are working to have defense cooperation under president rousseff's leadership. two were approved last week and now in effect. going forward, it will be easier for our two militaries to train together and share more information and technology and to cooperate during missions such as disaster response and peacekeeping. i want to thank you for making this progress. are working together to uphold the democracy of human rights across latin america. i very much appreciate president rousseff and brazil's strong supporfor a new opening toward cuba. on our progress

and work embassies in havana and washington, and i believe brazil's leadership in the region as well as its own journey to democracy and market economy can make them an important partner as we work to create more opportunities and prosperity for the cuban people. in short, i believe this visit in a new ande step more ambitious chapter in the relationship between our countries. we are focused on the futured. di your, thank you for partnership and the achievements we have made together and americans will be cheering probably 14 usa and we will all be rooting for truly great games with brazil as our host. nice did give me a very yellow and green sweatshirt which says, is still on the back -- which says brazil on the

back. i cannot wear that in public -- [laughter] because i have to root for the usa, but at home and at night, it is very comfortable, so who knows. i might put it on. resident rousseff, thank you. [speaking portuguese] > greetings tosseff: all members. i would like to thank the president barack obama for letting the u.s. people and their hospitality for which they have ever since i got here and ever since [indiscernible] last evening, president barack obama and i have had productive meetings during which we have celebrated an upward project to

re-in our relations. we have also established a trust and bilateral agenda in trade investment and climate change, energy, education, defense, and we havescience, reinforced our dialogue on these national agendas for the environment. are key in the decision for the world and for each of our countries. we also focused on economic and security. the economic recovery of the united states is extremely positive for the world economy and for the brazilian economy. our natural trait is very substantial and based on higher value average products. we want to expand and universal five are exchanges. -- and unify our

exchanges. the objective in building the anditions to ensure ambitious trade relationship between brazil and the united states. in the short term, we should obstacles-terrorist that are in place for industrial goods and agricultural goods. away with the very complicated permit restrictions and we would also like the high-quality of collection process in brazil be duly technology. in the short term, our priority agenda will focus on two topics. number one, regulatory standards and carbon emissions technical standards and trade facilitation's group a single

system to streamline the time frames involved in procedures. we would also like to cooperate with the u.s. patent office is although it is a matter that involves intellectual properties, there are positive impacts if we expand the degree used of technology incorporated into brazilian province. the u.s. is the main investor of foreign investor in brazil in 2013. the total aggregate direct investments from the u.s. and brazil came to the hundred and 16 billion usc's. brazilian investment in the u.s. has round. in 2013, the total or accurate amount came to 15.7 billion u.s. dollars. these figures truly represent the order of magnitude of his investments, and it is important andndicate between 2007 2012, the growth of foreign direct investment by brazil in 221 betweene to

2007 and 2012. we want to further expand the trade flows to be higher given the actual [indiscernible] that is one of the objectives of the efforts we have had engaged to further strengthen our macroeconomic policy. reduces the risk for brazilian investments and u.s. investments in brazil. we have also talked about the macroeconomic agenda, expanding the accountability of processes known for those relations between companies and the government. we are also expanding the investment opportunity in one bya where coordination government is key in terms of setting the right expectations and i'm talking about the infrastructure area.

we have launched an ambitious infrastructure program and we presidente thank obama for his commitment in reassuring a greater person of u.s. investors and the just ask the violent program. i would also like -- and development program. i would also like to say we have enjoyed a fruitful relationship are two governments and the business communities. -- halfnt ceo for important suggestions such as establishments or setting up of an infrastructure to identify and courtney, and promote investment projects as well as the suggestion of developing financial and guarantee investments in the long terms with stimulate the private sector involvement. we also have a wide array of several other opportunities and achievements in areas such as

the france arena, we welcome the two agreements recently passed by congress. [indiscernible] allowent which will between the precedent ministries and the u.s. counterpart industry dissent. the military information on military information will allow the exchange of finishing in that area. , air and space technology, i would like to highlight one point that president obama and i -- one on which we have come to a decision which is very important. i'm talking about climate change. climate change is one of the central challenges of the 21st

century. have one important objective which is, number one, to transfer the missions are two countries will have a substantial share of resources of energy. has a great deal to do with the current outflow with our involvement in parts of the andal reduction agreement we are indeed in a position to materialize that agreement during the upcoming conference in paris. the second area is very much related to the first one which is the joint decision by our two 20%tries to establishing goal in terms of expanding the renewable shares for energy except for the hydro sources

between now and 2020. i very much welcome that decision because it will prove extremely important in the mission of greenhouse gases and commitmentaks to our to ensure the environment has efforts to make sure the global temperature does not go up beyond. [indiscernible] have reduced not only but we [indiscernible] wish to turn the page

and engage in a clear-cut read of deforestation policy. that is extremely important for brazil and reflect the commitment that we ourselves have undertaken in brazil. the agenda in my view is absolutely key and essential for our two countries cooperation and energy efficiency for example. we are committed to putting in place a smart grid. we are also committed to minimum consumption levels and we are buildings and to equipment. alsodent obama and i talked about education. we believe education will provide the world with the world with two gains. social inclusion to make sure they become permanent gains and number two, the qualitative look forward to regards to the

knowledge of economies. and that is why we are mostly seeing our agreement on corporation and technical and education between the brazilian industry and the brazilian department of education. we are -- we also wish to establish partnership between the government research institute in the two countries with agreeing to achieving technological improvement as well as innovation. i would also like to stress the importance of using education a means to move toward higher quality and more inclusive education. in that regards, without a shadow of a doubt, the high-quality is one of the ability of the united states to develop technological research

in that arena and has proved very important. and also, we attach a great deal of importance to corporation as part of the work program. [indiscernible] an imported highlight is the fact that the u.s. has received the biggest number of brazilian students. the u.s. has become a nation of brazilian -- may i think president obama for having a wave ofuch brazilian grantees. i have often said time and again to president obama that it is our ambition to change our cooperation in innovation into one of the central topics on our agenda. we also want to make progress in our image in corporation,

particularly between the national laboratory and research center and materials. tomorrow, i will be in california and while i am in california, i intend to hold a meeting withing information technology, biotechnology, and air and space companies. i would also like to think we havet obama because come to a decision to facilitate entry of frequent travelers from brazil in the united states as part of the global entry program. we have also find a very important agreement for visiting population living and working in .he united states talking about the social security agreement that will the people working in the

u.s. to be equally covered over the social security agreement. we also talked about a wide array of different initiatives. i would like to highlight the following initiatives -- to join the global health ghi.ity initiative, i think it is important to have a widehat we array of joint initiative that can be developed and put in ,lace in third-party countries trying to look corporation particularly for fuel production. in conclusion, may i refer to the important -- the importance

of latin america for the relations made by president obama and raul castro. andpens up relations resuming relations with cuba. inis a decisive milestone u.s. relations in latin america. it is about putting the lingering vestiges of the cold of trustlso the level between the entire region. may i acknowledge the importance of that gesture to all of latin america and to the world at large. it is an important example of relations to be followed. and in conclusion, might reiterate my invitation for president obama to come to olympics. the 2016 i count on you and that

invitation is extended to the vice president but i understand they cannot be at the same time at the same place abroad, but anyway, president obama has a standing invitation to come to rio, brazil. and while in brazil, he will be able to wear his green and yellow jersey which says brazil and also obama on the chest. i am sure you will be a proud president if you do so. this trip tolieve the united states stands as a relaunch of our relations. once again, may i think president obama and the u.n. people for the warm reception, welcome, and may i say we have taken one step ahead in our relations. thank you very much. president obama: we are going to

take a few questions and i'm going to start with jim. who i understand and announced his retirement. jim, you are kind of young to retire. while you are ahead. we are going to miss you, but you will be here for a couple weeks. congratulations. i appreciate it. jim: sir, you are on the cusp with iran. there are still a number of unresolved issues. the planular, [indiscernible] you and your administration say you are continuing for these individuals, but still, you will sign likely an agreement with toronto and those issues -- with iran and those issues. what do you say to the families about how you will deal with their loved ones? i guess the bottom line, when you find [indiscernible]

and madam president, welcome to the u.s. you canceled a previous trip to the u.s. falling the snowden revelation, do you need a translation? a little louder, certainly. you canceled a previous trip to the united states following the revelations by edward snowden called nsa spying on you. are you still troubled by those revelations and have you youived assurances and are satisfied with the answers you have received from the administration? thank you. president obama: first of all, to u.s.h respect citizens, u.s. persons held in iran, this is something that we

continue to push hard on irrespective of the nuclear deal. it is a top priority for us to make sure that our people are treated fairly and on the face of it, in the case of these individuals who have been held, they have not been. and they are not being afforded the basic due process and legal rights that we afford visitors to our country, so we are deeply concerned about it. we spent a lot of time pushing on it, and we will continue to do so. of there is no lessening sense of urgency, so when i talk to the families, we reminded thatthat -- of the fact that is a mission that will continue and has been worked on consistently throughout their captivity.

with respect to the larger issue of whether i trust iranian regime, as i have said before, there are deep seated disagreements -- deepak conceded p-seededments -- dee disagreements between the u.s. and iran and those will not go away overnight. the goal of the nuclear negotiations is not to rely on trust but to set up a verifiable mechanism where we are cutting off the pathways for iran to obtain a nuclear weapon. and john kerry right now is there along with secretary of energy who is one of the top nuclear physicists in the world. they are deeply engaged in negotiations. my hope is that they can achieve an agreement, but my instructions to them have been

extremely clear. the framework agreement that was ifablished is the one that implemented, and effectively, and codified properly, would in fact achieved my goal which is iran not obtaining a nuclear weapon. there has been a lot of talk on the other side from the iranian negotiators about weather in act they can't abide by some of the that that came up in -- came up. if they cannot, that will be a problem. because i have said from the start, i will walk away from the negotiations is in fact it is a bad deal. assurancest provide that the pathways for iran obtaining a nuclear weapon are closed, and if we cannot verify that, if the inspection and

verification regime is inadequate, then we are not going to get a deal and we have been very clear to the iranian government about that. the good news is that ourp5+1 partners feel exactly the same way. there are still some hard negotiations to take place but ultimately, it will be up to the iranians to determine whether or not they meet the requirements that the international community has set forth to be able to fairly and accurately and consistently assess whether or foreclosed the possibility of obtaining a nuclear weapon. given past behavior on the part of iran, that cannot simply be a declaration by iran and a few inspectors wondering around

every once in a while. that will have to be a serious, mechanismerification and that i think is going to be the test as to whether we get a deal or not. president rousseff: yes, it is true. it is true that i canceled my previous trip to the u.s. at that point in time. some things have changed. the change in particular is the fact that president obama and the u.s. government have stated on several occasions that they would no longer engage in spying on fromof the countries. i believe president obama and furthermore, he has told me that if we should ever need public

information, he will tell me, so guess, i am certain that the conditions have become very different. at this point, i would like to call a journalist with the global news network. >> issident obama: if brazil playing somebody else, maybe i will, but if they're playing the united states, i'm sorry. >> you were talking about any and presidentan rousseff just mentioned when they canceled the trip because of that upset and brazil is also in the middle of the political and economic crisis.

one another in this moment to build this new chapter question mark i'm sorry -- chapter? i'm sorry. present views itself as a leader in the world and how do you reconcile those divisions? i actuallybama: going to answer part of the question you asked the president. as well not as a regional power but a global power. brazil not as a regional power but the global power. we see it as an economic form for coordinated between major economies, the g-20. brazil has a major voice in that. the negotiations that will be taken place in paris around climate change can only succeed , andbrazil as a key leader the announcement that has been

made today about their goals on renewable energy is indicative of brazil's leadership. brazil is a major global player and i have told president dilma last night that the united , ases has powerful -- powerful as we are and as interested as we are in solving the whole range of international issues, recognizes we cannot do it alone. on issues like global health, we are not going to succeed unless we are working with rizzo and -- with a zeal and other major in countries so that we can identify whether mapping the outbreak of the disease, how it prevented from becoming a pandemic. if we want to be successful on climate change and countering terrorism, on making sure that we are reducing extreme poverty around the world, all the major countries have to be involved in that process. and brazil, we consider to be an

absolutely indispensable partner in these efforts. with respect to trust, i will andthat president rousseff i have had an excellent relationship since she took office. i trust her completely. she has always been very candid and frank with me about the interest of the brazilian people and how we can work together. she has delivered on what she has promised. when we met in panama, we discussed, for example, that the defense cooperation agreements that were just mentioned, she got those through congress. ask somebody who knows something about congresses, i know that is never easy, so for her to use political capital in order to get that done, i think is indicative of the kind of

reliable partner that she is. this meetingat that we have had this week thats on a series of steps will continue to deepen cooperation between our two countries. there will still be differences occasionally, but that is true with every one of our close friends and allies. no country is going to have identical interests. there will always be some frictions, but our common values , the strong people to people relations that we have, the fact that we are the largest countries in the hemisphere with similar histories, i think all bet means that we should very strong partners for years to come. : well, i rousseff

believe that part of my answer was given by president obama and i would like to thank him for that. i would like to make the following remark. seesries did go to crisis -- the crisis and it is natural. should not entail a lesser role for any country, especially when it is said to be a great country and it overcomes successfully. [indiscernible] greatness to overcome difficulties, challenges, and still sustain and uphold the people and the country. it also applies to relations with countries such as the u.s. and the rest of the world. these are essential relations.

brazil and the u.s. have a great deal in common. we are two countries that have a hallmark in our history. something we actually had to fight to overcome. i am talking about the blemish of slavery. a large black population and our country is marked by a significant ethnic and multicultural variety in our population makeup, and that is major asset in part of the heritage in our population. we are a strong democracy. brazil, just ask in the case of the united states, and i even congratulated president obama for having overcome the crisis .hat struck his country likewise, brazil will overcome the current crisis that affected brazil and we will do so very decisively with a great sense of commitment. uphold and ensure

continuity of all of the achievements that we have established in the past 12 years. and we will make sure that these gains multiply into the future. we truly want to build a predominantly middle-class country. the efforts to reduce inequality are a major game and we must fight to preserve those gains. >> thank you, mr. president. i hope you don't mind if i ask a multipart question, the first one being on greece. i would be burmese -- i would be remiss if i did not ask about the financial crisis in europe and in layman's terms and language americans can understand, i want to ask simply, is a financial crisis in greece capable of bringing down the global economy? and separately, sir, i wanted to ask you about what some people are calling your best week ever last week.

you had two supreme court decisions supported of the affordable care act and gay rights, you also delivered a speech down in charleston that was received well, it seems you built a political capital for the remaining months of your presidency, i am curious, how do you want to use it? what hard do you want to tackle at this point? and president rousseff if i may ask you, you extended an invitation for the president to join you in rio next year, the terror group isis hasn't showed to carry out attacks around the world, what preparations are you making to make sure that the olympic games are safe and are you concerned about that happening in rio? thank you very much, madam president. president obama: on greece, this is the situation we have been monitoring throughout the year as i think most people are aware, there has been an ongoing toses in greece dating back

2009-2010. it is something i have been deeply involved with periodically working with our european partners. it is an issue of substantial concern. it is an issue primarily of concern to europe. essentially, what you have here that has gone through some very difficult economic times, needs to find a path toward growth and a path to stay in the eurozone. what we have been encouraging both the greek government and our european partners to do is to continue to negotiate and find a pathway toward a resolution.

it is also important for us to make sure that we plan for any continuously and that we work with european central bank and other international institutions some of the that bumps that may occur in the financial markets and that have already occurred are smooth out -- are smoothed out. in layman terms for the american people, this is not something aat we believe will have , but shock to the system obviously, it is very painful for the greek people. it can have a significant effect on growth rates in europe, and

if europe is not growing the way it needs to grow, that has an impact on us, it has an impact on brazil. those are major export markets and back and have a dampening effect on the entire world economy, so it is something we are monitoring, something we spent a lot of time on. we have been on the phone fairly consistently for the last several months. i have spoken to my european counterparts encouraging them to ,ind a path toward resolution so it is something we take seriously but it is not promptng i think should overreactions. so far, i think the markets have happily factored in the risks and bumps. in terms of my best week. my best week, i will tell you

was married michelle. that was a really good week. [laughter] molly and sasha being born, an excellent week. and sasha being born, an excellent week. [laughter] there is a game where i scored 27 points. [laughter] that was a pretty good week. i have had some good weeks in my life, i will tell you and i am blessed to have had those. was gratifyingek because number one, we were able of tradepackage legislation that i believe will serve the american people, american workers, american businesses going into the future. it gives us the opportunity to negotiate high standard agreement that have enforceable

labor and environmental provisions. it was a tough fight because there were a lot of folks in my own party who do this as , damaging or finding trends from globalization that have taken place over the last several decades. my argument of them has consistently been that we are not going to stop globalization, we have to shape it in a way that helps people. and these are tools that will help us do that, but being able to get that done was very important. the affordable care act, as i have said before, the results i think speak for themselves. we had the lowest uninsured rate that we had and has worked evenr, cost plus then

supporters anticipated. if we can get governors that have been holding out and resisting an expanding medicaid ,rimarily for political reasons think about what they can do for the citizens who do not have health insurance but could get it very easily if state governments acted. then we could see even more improvement over time. my remarks to charleston were heartfelt. it was not the celebration. on thea reflection consistent challenge of births thehis country -- consistent challenge of race in

this country and how we can find the path toward a better way. only gratified to see not the incredible response to the families who have been affected by this tragedy, but by the response of people like governor they dealt with the issue of the confederate flag. as i said on friday, it does not solve all our problems but what it does is signify a sense of empathy and recognition that i think is always the start of progress. last week was simply a combination of a lot of work that we have been doing since i came into office. how am i going to spend whatever political capital that i have built up? and myt is long instructions to my team and my instructions to myself have always been that we are going to ofeeze every last ounce

progress that we can make when i had the privilege of holding this office. we announced overtime rules that i will be talking about more this week and that will give a raise to finally people potentially in this country who really deserve it. i want to see if we can get bipartisan worked in the congress around rebuilding our infrastructure and brazil just talked about a are rebuilding highways and roads and ports and bridges. you know what? we've got the same work to do and we need to put people back to work there. i am really interested in the possibility and the prospect of bipartisan legislation around the criminal justice system. something that i think directly speaks to some of the things i mentioned friday, and we have seen some really interesting leadership from some unlikely

republican legislators. very sincerely concerned about making progress there. i want to keep on making progress on job training and making sure that the idea of two years of free community college starts taking root. , and what weong are going to do is keep on hammering our way at all the issues that i think we'll have an impact on american people. some of them will be left undone, but we are going to try and make progress up on every single one of them. and i have always said, one thing i have learned in this presidency is that there are going to be ups and there are going to be downs, but as long as my focus and my team's focus

is on what is going to make a difference in the lives of ordinary americans, are we going to give them more opportunity so that if they work hard, they can get ahead? are we going to make this a more inclusive economy, a more inclusive society, a more fair, just society? if that is our north star and we keep the heading in that direction, we will make progress. i feel pretty excited about it. i might see it can make next week even better. -- if we can make next week even better. i love press conferences. my team is always holding me back. [laughter] i want to talk to you guys every day. [laughter] sorry, josh.