Ferrari President Luca di Montezemolo has called on the sport to take heed of the global economic situation if it to flourish.

"The world economic situation and that of Europe in particular, is very serious and the world of Formula 1 cannot ignore the fact," Montezemolo told the Ferrari website. "We cannot lose any more time: we need to tackle urgently and with determination the question of costs.

"Ferrari is in agreement with the FIA's position that drastic intervention is required," he continued. "We are absolutely convinced that, as I have always said, the teams and the commercial rights holder must work together with the Federation on this front. This is no longer the moment for getting bogged down in sterile discussions or the meanderings of engineers, usually only concerned in defending the interests of someone or other: the question has to be tackled at the highest level, without further delay."

Referring to last weekend's race in Canada, which saw race-leader Fernando Alonso lose out when the team's tyre stategy gamble didn't pay off, Montezemolo said: "I am not used to dealing with regrets as I prefer to always look forward. In Montreal, I saw a team with a great will to win and that was seen right to the very end, maybe even taking some risks that might have been excessive.

"To see a Ferrari fighting for the win right to the end is just what I want to see and so do our fans," he continued. "I am pleased with the progress seen over these past few races, but my thoughts and all the efforts of the Scuderia are already focussed on Valencia and then Silverstone, where we must make further steps forward. We must continue down this road, aware, as I am keen to repeat one more time, that success in this championship depends only on ourselves."