ROME (REUTERS) - Former Prime Minister Silvio Berlusconi on Tuesday indicated he was open to an alliance between his centre-right coalition and the centre-left group that won most seats in Italy's parliamentary election.

"Italy cannot be left ungoverned, we have to reflect," Mr Berlusconi said in a television interview when asked whether he was open to joining with the centre-left.

He said all parties need to sacrifice something for the common good.

On the other hand, he explicitly ruled out a coalition with outgoing Prime Minister Mario Monti, and said his austerity policies had dragged Italy into recession.

The centre-left won a majority in the lower house in the election on Sunday and Monday but not in the Senate, which it must hold to be able to legislate.

Mr Berlusconi added that he was not worried about a negative market reaction to the vote or a possible increase in Italy's borrowing costs.