This paper is concerned with the analysis of discretization schemes for sec
ond order elliptic boundary value problems when essential boundary conditio
ns are enforced with the aid of Lagrange multipliers. Specifically, we show
how the validity of the Ladysenskaja-Babuska-Brezzi (LBB) condition for th
e corresponding saddle point problems depends on the various ingredients of
the involved discretizations. The main result states that the LBB conditio
n is satisfied whenever the discretization step length on the boundary, h(G
amma) similar to 2(-l), is somewhat bigger than the one on the domain, h(Om
ega) similar to 2(-j). This is quantified through constants stemming from t
he trace theorem, norm equivalences for the multiplier spaces on the bounda
ry, and direct and inverse inequalities. In order to better understand the
interplay of these constants, we then specialize the setting to wavelet dis
cretizations. In this case the stability criteria can be stated solely in t
erms of spectral properties of wavelet representations of the trace operato
r. We conclude by illustrating our theoretical findings by some numerical e
xperiments. We stress that the results presented here apply to any spatial
dimension and to a wide selection of Lagrange multiplier spaces which, in p
articular, need not be traces of the trial spaces. However, we do always as
sume that a hierarchy of nested trial spaces is given.