Full Transcript: Charlie Gibson Interviews GOP Vice Presidential Candidate Sarah Palin

PALIN: I believe that under the leadership of Ahmadinejad, nuclear weapons in the hands of his government are extremely dangerous to everyone on this globe, yes.

GIBSON: So what should we do about a nuclear Iran? John McCain said the only thing worse than a war with Iran would be a nuclear Iran. John Abizaid said we may have to live with a nuclear Iran. Who's right?

PALIN: No, no. I agree with John McCain that nuclear weapons in the hands of those who would seek to destroy our allies, in this case, we're talking about Israel, we're talking about Ahmadinejad's comment about Israel being the "stinking corpse, should be wiped off the face of the earth," that's atrocious. That's unacceptable.

GIBSON: So what do you do about a nuclear Iran?

PALIN: We have got to make sure that these weapons of mass destruction, that nuclear weapons are not given to those hands of Ahmadinejad, not that he would use them, but that he would allow terrorists to be able to use them. So we have got to put the pressure on Iran and we have got to count on our allies to help us, diplomatic pressure.

GIBSON: But, Governor, we've threatened greater sanctions against Iran for a long time. It hasn't done any good. It hasn't stemmed their nuclear program.

PALIN: We need to pursue those and we need to implement those. We cannot back off. We cannot just concede that, oh, gee, maybe they're going to have nuclear weapons, what can we do about it. No way, not Americans. We do not have to stand for that. What I would like to see, Charlie, is for America to recapture -- in the days of Reagan, remember, we had captured this -- the exceptionalism of America, America being able to be counted on with our allies and then, you know, that's got to be mutual, though, but we need to be able to count on them, also.

But America being able, because we are a generous nation and we are a nation of values and of ideals, where we can afford to share these values to other more repressed areas across our globe, that's what America is going to be reformed into, and I look forward to being a part of that.

GIBSON: What if Israel decided it felt threatened and needed to take out the Iranian nuclear facilities?

PALIN: Well, first, we are friends with Israel and I don't think that we should second guess the measures that Israel has to take to defend themselves and for their security.

GIBSON: So if we wouldn't second guess it and they decided they needed to do it because Iran was an existential threat, we would be cooperative or agree with that.

PALIN: I don't think we can second guess what Israel has to do to secure its nation.

GIBSON: So if it felt necessary, if it felt the need to defend itself by taking out Iranian nuclear facilities, that would be all right?

PALIN: We cannot second guess the steps that Israel has to take to defend itself. Charlie though, the premise there, it sounds to me, is that your belief, perhaps, just based on this question, is that we would ever get to this point. This is why it is so important that American military and our intelligence is better than anybody else's on this globe, so that we can help with our allies and we can put pressure on other nations to make sure we never see a scenario like that.

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