We prove a geometric characterization of Banach space stability. We show that a Banach space X is stable if and only if the following condition holds. Whenever $\widehat{X}$ is an ultrapower of X and B is a ball in $\widehat{X}$, the intersection B ∩ X can be uniformly approximated by finite unions and intersections of balls in X; furthermore, the radius of these balls can be taken arbitrarily close to the radius of B, and the norm of their centers arbitrarily close to the norm of the center of B.  The preceding condition...

Banach space theory splits into several subtheories. On the one hand, there are an isometric and an isomorphic part; on the other hand, we speak of global and local aspects. While the concepts of isometry and isomorphy are clear, everybody seems to have its own interpretation of what "local theory" means. In this essay we analyze this situation and propose rigorous definitions, which are based on new concepts of local representability of operators.