He told the Sunday Sun: "I appreciate where Steve Coppell (who supports quotas) is coming from but I also appreciate the Arsene Wengers of this world, who say if you want quality then you have to go out and buy it.
"If you're good enough, it doesn't matter where you are from, you get into the squad.
"It's not a case of me sitting on the fence - I very rarely do that - but I can appreciate both different views. It is a hard one to call.
"I think there will be a lot more talk about it next week if England fail to qualify for Euro 2008, that is what has started this off.
"If England qualify the debate will die down; if they don't, people will say it's because there aren't enough English players in the Premiership."
Keane does not believe that England's Euro 2008 qualification problems can be blamed on a lack of quality players, however.
He said: "People think it's because England don't have good enough players but that's nonsense - they have some outstanding players."