Obama: Mideast peace takes 'wrenching compromise'

President Barack Obama says achieving a peaceful Middle East will require "wrenching compromise" by the Israelis and Palestinians, but an accord will never be reached unless both sides come back to the table.

Obama says he recently proposed that the two sides rekindle the process by first working on the borders of a future Palestinian state and Israel's security before moving to more emotional issues, such as the fate of Palestinian refugees and Jerusalem.

He says a peace deal will be on the horizon if they resolve those issues.

Obama spoke in London at a news conference with British Prime Minister David Cameron. Obama also restated his opposition to efforts by the Palestinians to pursue statehood through the United Nations, calling it a mistake.