the course of these weeks of work which led up to this visit. withirst one consistent the pillar of the commitment i have entered into with my teams. -- the first pillars are education and work. the first seeks to boost scholarship and teacher training, deepening training and development in science and technology. , let mereation of work stress the importance of increasing trade between our two countries. argentina has a lot to offer and right now, it has a very low level of trade exchange with the u.s. it is important for us to work together to nantz -- to enhance investments, encouraging the development of sme's the main

generators of work. again, i would like to congratulate you, because 472 consecutive months, i've been 72d that you are -- for consecutive months, i've been told that you are creating work for your country. i hope to embark on a similar cycle in argentina. the other area we are encouraged into working on together is defeating drug trafficking. decade, drug trafficking has advanced in our country could we are happy to start working together on that front to exchange information technology, training to really fight the relentless battle against organized crime and money laundering. ofo, within this framework

,ur friendship and cooperation we are hours away from commemorating the anniversary of darkestolidation of the chapter in our country's history you agree to this and we are very thankful for that gesture. we are entitled to know what the truth is and for the argentine clear, that has been a indication that come if we engage with other countries and engage in dialogue with other countries, other countries will respond and cooperate with our requests. another area where you have shown significant leadership has

to do with the defense and protection of our environment, the fight against climate change. the progress that has been seen in terms of disseminating renewable energy and boosting them, this is something argentina is also joining. i deeply believe in this. come ir of the city learned about the importance of the green agenda and now, i'm committed to make sure that our country also leads in the fight against climate change in the 21st century. i would like to and where i started, by thinking you, mr. president, for your visit, saying i believe this is the beginning of a new phase of mature, intelligent, constructive relations in which the only concern for us both is to improve the quality of the lights of our people -- lives of our people. i'm sure that by working together, we will achieve this.

thank you very much and please feel at home. [applause] president obama: good afternoon. it is wonderful to be in argentina for the first time and i want to thank the people of argentina and president macri and his team for hosting myself and my family to this beautiful city. as the president indicated, we just had an excellent conversation. president macri is a man in a .urry i'm impressed because he has moved rapidly. on so many of the reforms that he promised to create more sustainable and inclusive economic growth and to reconnect argentina with the global economy and the world community. confidence show of

in argentina's new direction come in u.s. businesses are announcing tens of millions of dollars of new investment here in argentina which can be part of the broader package of investment that can lead to new jobs and economic growth here in this country. what president macri and his team have achieved in such a short amount of time is a testimony not only to his remarkable energy but the of thiss -- loyalty willingness of people of different parties to work together. i know something about polarization. i've told him and his team that the u.s. stands ready to work with argentina through this historic transition. in any way that we can come in any way we believe and you believe will be helpful. it is not just businesses that

are taking note of the changes here and when osiris. has as well. osirisges here in when -- changes here in bueno aires. tojust discussed the way promote the universal interests that we share. we share a commitment to freedom and security at home and around the world. today, the people of the united states and argentina stand with the belgian people and express our extraordinary sorrow for the -- the losses they've experienced. we understand the pain they feel because our countries as well have known the scourge of terrorism and we've seen our own citizens impacted by this kind of senseless, vicious violence.

as i told belgium's prime minister yesterday, the united states will continue to offer any assistance we can to help investigate these attacks and bring attackers to justice. we will also continue to go aggressively until it is removed from syria and removed from iraq and is finally destroyed. the world has to be united against terrorism. those and we will defeat who threaten the safety and security not only of our own people, but people all around the world. that is a top priority of hours and i know president macri shares those believes. that's one of the reasons why president macri and i agreed to work together to disrupt terrorism, to do more to choke off the terrorist financing mechanisms in place and to keep our people safe when they travel. u.s. federal agencies will lend

their support to argentina's counterterrorism efforts and we are also supportive of president macri's intention to return to argentina's traditional role as a significant computer to peacekeeping missions, including by supporting you in efforts to u.n.nt that protect -- the mosto protect horrible -- the most full vulnerable. these are areas where we can be very effective. the united states in argentina also share a commitment to protecting this planet for our children and grandchildren and great rental during. -- the unitedi states and argentina also share a commitment to protecting this planet for our children and grandchildren and

great-grandchildren. showed me macripresident macri pictures of his family. we want to leave them a world that has not been a reversibly impacted by climate change. -- irreversibly reversibly impacted by climate change. argentina has set impressive targets for producing clean energy. they have ambitious targets for reducing carbon emissions. thisse we have experienced since i came into office, tripling the amount of energy we get from wind and expanding the ,mount of solar power 20 times we are confident we can be effective partners and i pledge to president macri that we will

provide any technical assistance he thinks will be useful in developing the incredible resources and clean energy strategies he is interested in pursuing here in argentina. toalso share a commitment global health security. we will work together in our response to the zika virus. globaled to support the health security agenda, -- if thererking are diseases developing and even remote villages, because of global travel, they can ultimately be a significant threat to our populations. we cannot pretend that it is just somehow their problem. it is our problem as well. we will work together to improve our capacity to detect and respond to and ultimately prevent the threat of new diseases.

it is also gratifying to see argentina champion our shared commitment to human rights. i hope we will work together to strengthen the human rights system to promote civil liberties come into judiciary's and government transparency and accountability throughout the hemisphere. this has been a great when an emphasis for president macri. metropolitanthe cathedral to lay a wreath at the tomb of jose and visit the moving memorial for the horrific bombing of the jewish community center 22 years ago. that theesident macri united states offers whatever help we can to finally hold -- i docountable

recognize that this week marks the 40th anniversary of the .ilitary coup tomorrow, to underscore our shared commitment to human rights, i will visit a memorial for the victims of the argentinian military dictatorship and recognize argentina's historic and continuing efforts to make things right. to make sure that we acknowledge the incredible heroism and courage of those who stood up against those human rights violations and to prove this is more than just a symbolic gesture on my part, as president macri indicated, i'm am launching a new effort to open up additional documents from that dark period. we declassified thousands of records from that era, but for the first time now, we will declassified military and intelligence records as well. .n this anniversary and beyond we are determined to do our part as argentina continues to heal and move forward as one nation. i hope this gesture also helps

that may havest been lost between our current -- between our two countries. that is a principal message i have not only argentina, but for the entire hemisphere. i came here from cuba. we put a great emphasis on some of thethat ideologies, the disputes of the past, that they are frankly acknowledged, that we are also able to make -- look to the future and not behind us. it's important because i've been a big fan of argentinian culture. when i was in college, i read a lot of argentinian literature. i am proud to announce that i just tried ma for the first e for the first

time. [laughter] iesident obama: i knew when finally arrived, i would try some. i just had some. it was quite good. [laughter] president obama: i may take some home with me when i go back to the united states. what kind of important export controls i will violate. on air force one, i can usually do what i want. [laughter] president obama: thank you very much, mr. president. [applause] next, we will begin the planned press conference. argentina, liliana franco will ask a question. i will ask my question in

spanish because i'm in argentina, sorry. the first question i would like to ask of both presidents, did you talk about a free trade agreement between the united states and south america? what is the role you assign to president macri considering the current situation brazil is going through? president macri: we have begun open up bothys to agendas. this is a road that is now starting and i told president obama that we are exporting less than 1% of our aggregate industrial exports, which means there is a lot of room for growth as part of a path on

about a must think broader free trade agreement. clearly, what we both feel is that we have enormous room for joint work after many years of almost nonexistent relations. lots of opportunities are opening up. we have the same goal in mind, to create work for the argentines and americans. president obama: as i said in my initial statement, we have been enormous impressed by the work president macri has already done in his first 100 days. we seek good relations with all the countries in the hemisphere, but obviously argentina historically has had one of the -- haswerful, largest

been one of the most powerful, largest countries in the hemisphere and is a partner to promote peace and opportunity in the region as a whole. i'm absolutely confident that 's interestdent macri in transparency, accountability, economic reform here in argentina, he is setting an example for other countries in the hemisphere. his engagement and willingness frank and constructive relations and conversations with on critical,munity multilateral issues like climate change, i think promises to heighten argentina's influence on the world stage in settings like the g20. i am saddened that i will only have nine months of overlap with him.

hiss at the beginning of administration and i'm coming to the end of mine. ant we can do is to start on effective path that i think will sustain itself into the future. trade is an example of an area where we've already organized a working group between our delegations. they will identify all the areas where currently there are barriers that have impeded progress in our trading relationship. we will systematically work through those, organizing an mayre free trade agreement be at the end of the process, but at the beginning, right now, there is a lot of unnecessary trade irritants and commercial irritants that can be cleared away administered of late -- administratively and that is

some of the work we intend to do right away. was there a second part of the question? >> [indiscernible] president macri: with respect to the holdouts and bondholders, this is working its way through the court system and i know that president macri has also initiated a proposal that is being considered by your parliament. i have to be careful not to comment on the issue because of .he nature -- our legal system these are judges i typically a point. typically -- judges i appoint. thatstructive approach president macri has taken has opened up a possibility of a resolution.

willolution on this issue financialargentina's relationship internationally in a way that can accelerate many of the other issues that are of great concern. in many ways, this is viewed as high finance. ordinary people say, why does this matter? if you're talking about foreign investment, trade, all the things that ultimately matter to ordinary people because they produce jobs and they produce economic development and provide more revenue in order to reinvest in education or science requiresology, that the kind of financial stability that is so important. i've been through this. when i came into office in 2008, the world financial system was going down the toilet, as we say.

we had to take a lot of efforts and make difficult choices and they were not always popular at the time. because of the steps that we took, our banks recovered faster. faster than european banks, for example. our economy began to recover faster. we began producing jobs. sometimes, short print that short-term pain -- sometimes, short-term pain and taking decisive action early is the best thing to do. therwise, you never restore trust that is necessary. josh: thank you, mr. president. you've resisted calls to alter your strategy fighting the islamic state. your critics are not offering any better ideas. but the attacks keep happening.

did brussels change anything for you? if not, would you like to -- do you think americans should see more attacks as being inevitable? what would you say it says about the state of our debate on this when you have a major presidential candidate calling for surveillance of muslim american committees that communities -- muslim american communities? what do respect those documents will reveal in america's role in this painful chapter in your countries -- in your country's history? president obama: i think it is important to recognize that this is my number one priority. i've got a lot of things on my plate. but my top priority is to defeat and to eliminate the scourge of this barbaric terrorism that has been taking

place around the world. we see high-profile attacks in -- they arethere also killing muslims throughout the middle east. people who are innocent, people who are guilty only of worshiping islam in a different way than this organization. they are poisoning the minds of -- ofeople everywhere young people everywhere. people are looking on these websites. there is no more important item on my agenda then going after them and defeating them. it insue is, how do we do an intelligent way? beenpproach has continuously to adjust to see what works and what does not.

is thes been working airstrikes we are taking on their leadership, on their infrastructure, on their financial systems. what has been working is special operators partnering with iraqi security forces and going after leadership networks and disrupting the connection mosul andeir bases in rocca. we taken 40% of their territory away. isil's leadership has been hunkered down. we will continue to press on them until we have driven them out of their strongholds and until they are destroyed. while we are doing that, we are also extraordinarily vigilant

about preventing attacks in her homeland and working with our allies to prevent attacks in places like europe. and workingmeland with our allies to prevent attacks in places like europe. because we are not taking the threat seriously, it is because it is challenging to -- find andentify identify small groups of people who are willing to die themselves and can walk into a crowd and detonate a bomb. my charge to my team is to find every strategy possible to successfully reduce the risk of such terrorist attacks, even as we go after their beating heart in places like iraq and syria. evolves and wey

see additional opportunities, we will go after them. what we do not do and what we is take approaches that are counterproductive. when i hear buddy -- when i hear somebody saying we should carpet bomb iraq or syria, not only is that inhumane and contrary to our values, that would likely be an extraordinary mechanism for isil to recruit more people willing to die and explode bombs in an airport or metro station. that is not a smart strategy. as what some candidates have said, i think i can clear on this. -- i have been clear on this. one of the strengths of the anted states is we have

extraordinarily successful, patriotic, integrated muslim american community. isolated.t feel are ourildren children's friends. they are our colleagues in our workplaces. they are our men and women in uniform fighting for our freedom. any approach that would single them out or target them for wrongmination is not only and un-american, but would also be counterproductive because it the strength, the antibodies we have to resist terrorism. havingas the notion of

surveillance of neighborhoods where muslims are present, i just left a country that engages in that kind of neighborhood surveillance. which, by the way, the father of senator ted cruz escaped for america, the land of the free. the notion that we would start down that slippery slope makes absolutely no sense. it is contrary to who we are and it will not help us defeat isil. that when we see the sight of these kinds of , our hearts bleed because we know that could be ourchildren, that could be family members or friends or coworkers who travel to a place like brussels.

it scares the american people. and it horrifies me. i have two young daughters who are growing up a little too fast. i want them to have the freedom theto move does have freedom to move and travel around the world without the possibility that they would be killed. -- i want them to have the freedom to move and travel around the world without the possibility that they would be killed. i went them to understand this is my top priority as well. it is the top priority of my national security team, our military, our intelligence officers, the top priority of our diplomats. but, we are approaching this in a way that has a chance of , andng, and it will work we are not going to do things that are counterproductive simply because it is political season. we will be steady and resolute

and ultimately successful. i don't think it will help in -- let's study the documentation and we can do some comments. thank you. >> next come a question from fromn -- next, a question martin. you whatd like to ask you think is or was the role of the u.s. during the dictatorship the region experienced and whether you think there should united criticism of the states in regard to that role during the era of dictatorship. i want to ask both presidents whether you have discussed the crisis during your meeting.

-- the brazilian crisis during your meeting. spent at obama: i have lot of time, both before i was president and since i've been president studying the history of u.s. foreign policy. like the history of any country's foreign policy, there are moments of great success and glory and moments that work on a productive. -- moments that .ere counterproductive i don't want to go through the list of every activity of the united states in latin america over the last 100 years. i suspect everybody here knows that history at least as well as i do. though, is that in

, the recognition that human rights, how we approached foreign policy come how we --roached our diplomacy foreign policy, how we approached our diplomacy was as important as fighting communism or whatever our long-term objective was. central to much more u.s. foreign-policy come in both democratic and republican administrations. policy, in both democratic and republican administrations. there was a growth and maturation of how we approached our foreign policy relationships. howou look at

administrations thought about other countries back in the 1930's or the 1950's or the 1960's and you compare it to how we would have a conversation in the oval office today and what we would think was appropriate and what we would think was not appropriate, that would change over time. i think it has changed in a positive way. one of the great things about america is we engage in a lot of self-criticism. ofre is no shortage self-criticism in the united states. certainly no shortage of criticism of its president or government or foreign policy. there are issues i work on where i'm some sides -- i'm sometimes criticized the left and right at the same time, although for different reasons. say,ne thing i will

everything we do today is account to take into , tosparency, human rights speak out on behalf of those issues come even where we do not feel we can force changes on a government, we will still speak out about it. i made a historic trip to havana. i said the people of cuba have nothing to fear from me, but you should know what i really believe. i believe democracy is better than a one party or one person dictatorship. i believe in freedom of speech and freedom of assembly. people should not be arbitrarily detained. i say the same thing whether i'm in china or russia or with some of our allies in ways that are uncomfortable.

it has become a habit and we have learned some of the lessons we may not have fully learned at an earlier time and i think our experiences with a country like developa help us to that more mature and successful approach to foreign policy. brazil, we did not discuss extensively other than the fact that we hope brazil resolves its current political crisis in an effective way it is a big -- in an effective way. it is a big country and a friend to both of our countries. their democracy is sufficiently mature, their systems of loss and structures -- laws and structures are strong enough that this will get resolved in a way that allows brazil to ultimately prosper and be the

significant world leader that it is. we need a strong and effective brazil for our own economies and for world peace. president macri: that is the way it is. that is what we discussed. we clearly are following this closely based on the affection we feel for the brazilian people . partner. our main we are convinced that brazil will come out of this crisis strengthened and we hope this will be as soon as possible. because clearly, whatever happens in brazil also has an impact on what happens in our own country. margaret: thank you, mr. president. president obama come in the wake of the brussels attacks, you saw

-- you thought about whether to the baseballtend game in cuba. would you walk us through why you decided that this was the correct course in terms of message? what is that message? on the trip, it seemed to me that both in cuba and in argentina, you are seeking to roll back some of the maybe overreach or interventionism of the cold war era. now that you're here, i'm wondering if that is shaping your views on intervention in syria. president macri, president obama believed in -- believes that normalizing relations with cuba will give america more credit ability and leverage in latin america, wondering if you also believe that history could i wonder if you will attend the

olympics in rio. president obama: i address this at the baseball game when i was interviewed by espn. cannot destroyl or defeat us. they do not produce anything. existential an threat to us. they are vicious killers and one ofrs who perverted andworld's great religions their primary power in addition is toling innocent lives strike fear in our societies, to disrupt our societies. so that the effect cascades from explosion or an attack by a semi

automatic rifle. even as we are focused on going after them come disrupting their networks, getting their leaders, , iting up their operations is very important for us to not respond with beer. -- with fear. that is hard to do because we see the impact of the attacks they make. sayingat them in part by you are not strong, you are weak. we send a message to those who might be inspired by them to say you are not going to change our and thef liberty

respectable people. i mentioned at the baseball game yesterday, one of my proudest moments as president was watching boston respond after the boston marathon attack. because they taught america a lesson. they grieved, i was there for the memorial, we apprehended ,hose who had carried this out but a few days later, folks were out shopping. if you days later, people were in that baseball stadium -- a few days later, people were in that baseball stadium singing the national anthem. papi was saying what he felt about boston, boston terroristd how a

attack was not going to change the basic spirit of that city. aboutt moment, he spoke what america is. and that is how we are going to defeat these terrorist groups. in part because we are going and taking strikes against them and arresting them and getting intelligence from them and cooperating with other countries. a lot of it will be to say to them you do not have power over us. we are strong. our values are right. death.er nothing except important for the u.s. president and the u.s. government to be able to work with people who are building and

creating things and creating jobs and trying to solve major andlems like climate change setting up educational exchanges for young people who are going to create the next new great invention or scientific breakthrough that can cure diseases. we have to make sure that we lift up and stay focused as well on the things that are most important to us. because we are on the right side of history. with respect to how our history in south america impacts syria, it is apples to oranges. when it comes to defending the united states or its allies and

our core interests, i will not hesitate to use military force where necessary. but how we do that is important. we don't just go ahead and blow something up just so we can go back home and say we blew something up. that is not a military strategy. for think it is important the president of united states and this administration to think through what they are doing so ,hey can achieve the objectives the priorities of the american people and i can tell you that how i spend my time is thinking how we are going to most effectively go after isil and bring peace to syria. throw some of military action at it without having thought it through and making sure it is effective.

well, i willri: give you my opinion on president obama's trip to cuba. it would mean great progress in american terms because doors to those who want to choose again. the u.s. wind without relinquishing any of the values we embrace in the united states in argentina, the flag of freedom. went without relinquishing any of the values we embrace in the united states and argentina come the flag of freedom. .his speeds up the discussion that is what we need for the cuban youth who need more freedom and want progress.

between thenship u.s. and that america will be strengthened -- latin america will be strengthened in the coming years. >> [indiscernible] >> the olympics? president macri: i'm going. they have invited people to suggest questions, to ask both presidents. we chose this one from maria

moore taro -- maria mortero from buenos aires. what was your dream when you got elected and were you able to realize it? president obama: i ran for deeplybecause i believe in the american people. and that our politics did not fully reflect all the values and the talents and the goodness of the american people. i thought i might be able to align our government with our ideals, to make sure every child has opportunity, to make sure if people get sick, they can get health care. to make sure we do not discriminate against people on

the basis of race or gender or disability or sexual orientation. that we are good stewards for our planet, that we grow and economy so that everybody benefits and not just a few at the top. a list of things i wanted to do and i keep it at my desk. i will not say that i have gotten 100% done, but we've gotten a lot done. it is indisputable that the economy is much stronger now than when i came into office. we've created over 14 million new jobs, we cut our fiscal deficits by two thirds, we've provided health insurance to 20 million people who did not have it. reduced theonly

acceleration of our carbon footprint, but helped lead the way to gain a global agreement on climate change. on the international front, cuba is one example of the work we've done. the iran nuclear deal that took away that threat from the world -- gave iran an inortunity to join international relations. the opportunity to work in which is onburma the brink of a new era of democracy. the values i felt were best represented by america has also been reflected in our foreign policy. one thing i've learned after 7.5

years in office -- i've used this metaphor before -- president macri talked about running. we are like a relay runner. we take the baton. sometimes when we take the baton , we are behind in the race. we don't always choose the circumstances when we get the baton. the question is, for our leg of the race, did we advance the causes we care about? gain ground against the challenges we care about? on that front, i believe we have achieved that. we still have a lot of work to do. there are a lot of people in america who are looking for more opportunity. i have not been successful in getting the two parties to work together more cooperatively. nottone of our politics is -- does not reflect what is best in us.

people.still killing north korea still has a nuclear weapons program. middle east peace has not been achieved. if i were satisfied now, i would be blind to the main challenges we face. that say with confidence the work we have done has made both america and the world stronger and better. i feel pretty good about the i can look back and say that i have operated with honesty and integrity. i have said as if things i do not believe or acted in ways that would make me ashamed.

that, i think, counts for something as well. i would have started dying my hair sooner so people would not realize how much i've aged in these 7.5 years, but it is too late now, so i will stick with it now. i started with: this way right away. [laughter] president macri: i'm only just starting, but i would like to the firststressing few words of president obama, i'm also here because i deeply believe in my people. i know this country and i know what it is capable of doing. buildingl committed to opportunities for all of us to be able to develop and learn from one another and also, something you said, to heal the

wounds of the past. we have to put our future, our children, our grandchildren as the priority and build solutions as clearly -- that are clearly connected to the world. that is why your visit is so important, just like the visits of other presidents and prime ministers recently. on. is what we are betting leaving the mark of peace, honesty and hard work, which is what we are capable of doing. this concludes the press conference. thank you very much. thank you to those presidents. and presidenti obama. mark: the presidents of the united states and argentina

concluding a press conference. called president obama's visit a gesture of friendship and affection and is stressed the need to work together to enhance trade and business between the united states and argentina. some sensitive topics that come up, namely the 40th anniversary of argentina's so-called dirty war. inilitary coup took place 1976 and thousands of people went missing, thousands were killed. president obama said a gesture of renewed relations between the two countries, he was moving to declassify military and intelligence documents so they can understand what was going on during that time. argentina went into default in the last president. president obama said he did not too to comment on that broadly because that is

currently working through the courts. global news 24 hours a day powered by 2400 journalists in more than 150 news bureaus around the world. we continue now with bloomberg markets with alex dylan scarlet fu. steel and scarlet fu. scarlet: european markets closed in the last half hour. mark barton is standing by in london with a recap. mark: this is the finishing board for you today, the stocks 600 industry group. the index was as much -- up as much as .6% earlier. .1% lowerd about yesterday. the notable decline is the basic resources and energy stocks. a continued rise in the dollar.

this chart highlights this perfectly because the pound has fallen 44th day against the dollar -- for a fourth day against the dollar. the decline is heightened after theerday's brussels attacks pound has fallen against all 16 of its major peers this year. the pound has risen against the dollar in april in 14 out of the last 15 years. big news today from credit suisse, announcing its second restructuring in five months with deeper cuts and the elimination of an additional 2000 jobs. situation with the big investment banks in europe -- you can see clearly the worst performer is credit suisse

year-to-date down by 32%. i want to finish off with one of the gainers today. hermes international beat earnings estimates. lvmh, christine dior, hermes -- are very is the winner -- burberry is the winner with an increase of 14%. stay with us. ♪

alix: it is 1:00 p.m. in new york, 5:00 p.m. in london and 1:00 a.m. in hong kong. scarlet: welcome to "bloomberg markets."

from bloomberg world had chris new yorkgoodfternoon. -- world headquarters in new york, good afternoon. fallinge british pound amid the brussels attacks, leading to more speculation that great britain will leave the eu. scarlet: porsche is showing off its newest luxury sports car. matt miller will talk to porsche's north american president and ceo. alix: professor gives avenue -- country'to