Professor Edward Kane:

Every country can use it. The issue in any situation where one country is trying to be tougher than others is how does this affect the allocation of loans and deposits and other instruments across countries. Customers want the best deal they can get. In the United States every useful reform is challenged on the grounds that it will make it harder for US banks to compete in the world. One of the norms is this mercantilist idea of helping national institutions to compete. If Ireland sets capital requirements at a much higher level, the banks will scream that it is being taken out of the financial All-Stars of the world.