Prime Minister Netanyahu took the floor at a joint press conference on Friday to explain Israel's stance on the points made by President Barak Obama in his address concerning the Middle East on Thursday.

Some highlights from Netanyahu:
"Israel wants peace. I want peace... that will endure. Peace based on illusions will crash eventually on the rocks of Middle Eastern reality."

"While Israel is prepared to make generous compromises for peace, it cannot go back to 1967 lines because these lines are indefensible and they don't take into account certain demographic changes that have taken place... these were not the boundaries of peace, they were the bounds of repeated wars."

Concerning resolving the Palestinian refugee issue within a Jewish state: "It's time to tell the Palestinians forthrightly, 'It's not going to happen.'"

"It falls on my shoulders as the Prime Minister of Israel at a time of extraordinary instability and uncertainty in the Middle East to work with you to fashion a peace that will ensure Israel's security and will not jeopardize it's survival... as I told you in our conversation, we don't have a lot of margin for error. And because Mr. President, history will not give the Jewish people another chance."


Watch the entire press conference below:

Part 1: President Obama recaps the points of his meeting with the Israeli prime minister.



Part 2: MUST WATCH: Netanyahu's response




netanyahu obama press conference