"It can't reasonably be considered to be my fault. If I ask you: Do you want to work together? And you say 'no.' Is that then my fault," Löfven told SVT news.
The Prime Minister took the decision to call Sweden's second election in the space of six months after failing to get enough support for his budget proposal.
Löfven said that he had been working behind the scenes since his election victory in September to try and build bridges with political rivals in advance of the government's budget announcement.
"We were prepared to discuss on the expenditure side, infrastructure issues, schooling and elderly care. Then we got the information after a short conversation; No, we are not interested in this, we'll come with our own budget," he said.
In a separate interview with Norwegian chat show host Fredrik Skavlan the Prime Minister conceded that the current political climate in Sweden was "absolutely not good."
"But I stand up when I know I'm right. It's a serious situation for the country but there was nobody who said it was going to be an easy task," said the Social Democrat leader.
In the interview, which will be broadcast on SVT 1 on Friday night, he went on to discuss the roots of the Sweden Democrat party and its association with Nazi symbolism and how the group has drawn comparisons between the Second World War and Muslims.
"There are 13 percent who are saying 'do as we wish.' Then I decided I would go with a new election," said Löfven.
Meanwhile a new poll carried out by Swedish daily Dagens Nyheter and Ipsos has revealed that just two percent of those surveyed felt the current Social Democrat/Green partnership would be the best government for Sweden.
A significantly higher amount, 14 percent, backed a combined Social Democrat/Green and Left party government. An Alliance government led by the Moderates was backed by 19 percent of those surveyed.
Sweden will return to the polls on March 22nd 2015.