Title: Lech's inequality and stability of local rings

Abstract: We explore Lech's inequality relating the colength and multiplicity of m-primary ideals in a Noetherian local ring (R,m). We introduce a natural invariant that measures the sharpness of Lech's inequality and show its connections with singularities of asymptotically semistable varieties and singularities arising from the MMP. We compute this invariant in various examples. This is joint work with Ilya Smirnov.