For this reason, we joined you in strongly supporting the Fiscal Year 1996 Defense Authorization Bill and its statutory requirement that all the United States be protected against missile threats by the year 2003.

CENTERFORSECURITYPOLICY: United States Senate

Arguably this Franco-German attempt to turn the Basel requirement into an EU maximum is an attack on the UK's fiscal or tax independence: if the FPC were to lack the tools to reduce dangerous risks in financial markets, that would increase the likelihood of British taxpayers' money being used to bail-out reckless banks.

BBC: EU block on making banks safer

What is clear is the requirement now is not just for more revenue, it is for a certain measure of austerity and fiscal discipline.

FORBES: Maybe There is a "Silver Lining"