"I called my opposition allies to inform them about the meeting and we have a full understanding of one another," he said.

Banharn said he had told Thaksin outright that he would remain loyal to his Democrat and Mahachon allies.

"I informed Thaksin that my party would neither contest the repeat vote nor join the next government," he said.

He said he had agreed to dine with Thaksin because they had known each other for more than 30 years.

Barharn said their chat covered many topics, including the profile of the next prime minister and amending the constitution.

"The next prime minister should possess an economic background to tackle the government's cash-flow problem," he said.

The incoming government will face depleting coffers, rising prices of utilities and high interest rates, forcing a re-think on spending plans for mega-projects, he said.

In regard to the constitutional amendments, he criticised the proposal of Thaksin's deputy Bhokin Bhalakula as cumbersome.

"If Bhokin has his way, the charter rewrite will take more than two years, whereas the amendments should not require more than six months to complete if relevant parties make a concerted effort," he said.

He said Thaksin had agreed with him that the 90-day rule should be discarded.

Banharn said he also told Thaksin to reflect on his mistakes that had caused the political turmoil. "Thaksin should start to pay attention to his party instead of consolidating power in himself alone," he said.

Asked about his future, Banharn said he would wait to see whether the new House was able to convene.