Luca di Montezemolo insists Ferrari is not opposed to sensible cost cutting in Formula One.

As the famous marque's president and also chairman of the FOTA teams association in 2009, Montezemolo was at the forefront of the argument with former FIA president Max Mosley.

Although stridently opposed to the budget cap proposal and publicly prepared to pull Ferrari out of F1 if it had been introduced, Montezemolo has told reporters that he is open to other methods for reducing costs.

He is however totally opposed to some of the current measures: for instance, the testing ban and the engine development freeze, which according to Germany's Auto Motor und Sport he derides for "going against the spirit of Formula One".

Instead of that, and the budget cap, there should be a limit on "the number of people (staff) and the number of working hours, and within these limits everyone can do what they want", added Montezemolo.

After just a single season with the current rules, FOTA has voluntarily banned the use of KERS systems for 2010, but Montezemolo clarifies that Ferrari is not opposed to the technology.

"We must also think about fuel consumption, C02 emissions and energy recovery. KERS was a good idea, only the execution was bad.

"I am for a new engine formula starting from 2012, but with KERS as an integrated component of the engine, not a freely selectable add-on," added the Italian.