Factbox: Top quotes from Obama news conference

(Reuters) - President Barack Obama extolled his jobs plan, chastised banks, called on crisis-hit European leaders to "act fast" and criticized China's currency policies in a wide-ranging news conference on Thursday.

Here are some key quotes from Obama, who faces a tough re-election fight in 2012, during the televised session at the White House that lasted for more than an hour.

JOBS & ECONOMY

* "The reason I keep going around the country talking about this jobs bill is because people really need help right now, our economy really needs a jolt right now. This is not a game. This is not the time for the usual political gridlock."

* "There is no doubt that growth has slowed. I think people were much more optimistic at the beginning of this year."

* "If Congress does nothing, then it's not a matter of me running against them. I think the American people will run them out of town because they are frustrated and they know we need to do something big and something bold."

* "The approach that the Senate is taking (on a possible surtax on millionaires) I'm comfortable with. In order to deal with the jobs bill, we're still going to have to reform the tax code to make sure that we're closing loopholes."

* "The same folks the Republicans claim to be protecting -- the well-off, the millionaires and the billionaires -- they'd be doing better, they'd be making more money, if ordinary Americans had some money in their pockets and were out there feeling more confident about the economy."

EUROPE

* "The biggest headwind the American economy is facing right now is uncertainty about Europe because it's affecting global markets."

* "But what I've been seeing over the last month is a recognition by European leaders of the urgency of the situation."

* "But they've got to act fast. And we've got a G20 meeting coming up in November. My strong hope is that by the time of that G20 meeting that they have a very clear, concrete plan of action that is sufficient to the task."

* "We've got to make sure we're living within our means, although we've got to do it gradually and not in ways that immediately affect a fragile economy. So what that means is Europe is not going to be able to export its way out of this problem."

CHINA

* "China has been very aggressive in gaming the trading system to its advantage and to the disadvantage of other countries, particularly the United States. I have said that publicly but I've also said it privately to Chinese leaders. And currency manipulation is one example of it."

* "So we've seen some improvement, some slight appreciation (in the yuan) over the last year, but it's not enough."

* "My main concern (about a China bill in Congress), and I've expressed this to Senator Schumer, is whatever tools we put in place, let's make sure that these are tools that can actually work, that they're consistent with our international treaties and obligations."

* "But it's indisputable that they (China) intervene heavily in the currency markets and that the RMB, their currency, is lower than it probably would be if they weren't making all those purchases in the currency markets."

BANKS & REGULATION

* "The financial sector is very creative and they are always looking for ways to make money. That's their job. And if there are loopholes and rules to be bent, and arbitrage to be had, they will take advantage of it."

* "It is entirely appropriate for the government to have some oversight role to make sure consumers are protected."

* "Banks and any business in America can price their products any way they want -- that's how the free market works -- as long as there is transparency and accountability and consumers understand what they're getting."

* "I'm going to be fighting every inch of the way here in Washington to make sure that we have a consumer watchdog that is preventing abusive practices by the financial sector."

* "I will be hugely supportive of banks and financial institutions that are doing the right thing by their customers. We need them to keep lending."

* "You've got Republican presidential candidates whose main economic policy proposals is we'll get rid of the financial reforms that are designed to prevent the abuses that got us into this mess in the first place."

PAKISTAN

* "We could not have been as successful (against al Qaeda) as we have been without the cooperation of the Pakistan government. And so on a whole range of issues they have been an effective partner with us."

* "I think that they (Pakistan's military and intelligence services) have hedged their bets in terms of what Afghanistan would look like. And part of hedging their bets is having interactions with some of the unsavory characters who they think might end up regaining power."

* "What we've tried to persuade Pakistan of is that it is in their interest to have a stable Afghanistan."

* "Part of what we want to do is actually get Pakistan to realize that a peaceful approach toward India would be in everybody's interests and would help Pakistan develop."

* "But there's no doubt that we're not going to feel comfortable with a long-term strategic relationship with Pakistan if we don't think that they're mindful of our interests as well."

(Compiled by John O'Callaghan in Washington; edited by Mohammad Zargham)