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Obama on Iran: "If There's No Deal, Then We Walk Away"

PRESIDENT BARACK OBAMA: There is enormous suspicion between the Iranian regime and the world, not just the United States.

The Iranians have negotiated seriously because we were able to bring them to the table through some of the toughest sanctions that have been ever put in place. We have made progress in narrowing the gaps, but those gaps still exist. And I would say that over the next month or so, we're going to be able to determine whether or not their system is able to accept what would be an extraordinarily reasonable deal, if in fact, as they say, they are only interested in peaceful nuclear programs.

And if we have unprecedented transparency in that system, if we are able to verify that in fact they are not developing weapon systems, then there's deal to be had. But that's going to require them to accept the kind of verification and constraints on their program that, so far at least, they have not been willing to say yes to.

BILL PLANTE, CBS NEWS: The activity of the secretary of state and his counterparts suggests a lot of people, particularly I guess the Israelis, that a deal is imminent.

OBAMA: I think it is fair to say that there is an urgency because we now have been negotiating for well over a year.

And the good news is, is that during this period Iran has abided by the terms of the agreement, we know what is happening on the ground in Iraq. They have not advanced their nuclear program. We have been able to roll back their 20 percent highly enriched uranium during this period of time. It's given us unprecedented access into what they are doing. So we're not losing anything through these talks.

PLANTE: And you have said that if there is no deal, you're willing to walk away. That's it.

OBAMA: Absolutely. If there's no deal, then we walk away.

If we cannot verify that they are not going to obtain a nuclear weapon, that there's a breakout period, so that even if they cheated we would be able to have enough time to take action, if we don't have that kind of deal, then we're not going to take it.

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