We study stability criteria for discrete-time switched systems and provide a meta-theorem that characterizes all Lyapunov theorems of a certain canonical type. For this purpose, we investigate the structure of sets of LMIs that provide a sufficient condition for stability. Various such conditions have been proposed in the literature in the past 15 years. We prove in this note that a family of language-theoretic conditions recently provided by the authors encapsulates all the possible LMI conditions, thus putting a conclusion to this research effort. As a corollary, we show that it is PSPACE-complete to recognize whether a particular set of LMIs implies stability of a switched system. Finally, we provide a geometric interpretation of these conditions, in terms of existence of an invariant set.