  It is currently widely accepted, as a result of Bell's theorem and related
experiments, that quantum mechanics is inconsistent with local realism and
there is the so called quantum non-locality. We show that such a claim can be
justified only in a simplified approach to quantum mechanics when one neglects
the fundamental fact that there exist space and time. Mathematical definitions
of local realism in the sense of Bell and in the sense of Einstein are given.
We demonstrate that if we include into the quantum mechanical formalism the
space-time structure in the standard way then quantum mechanics might be
consistent with Einstein's local realism. It shows that loopholes are
unavoidable in experiments aimed to establish a violation of Bell`s
inequalities. We show how the space-time structure can be considered from the
contextual point of view. A mathematical framework for the contextual approach
is outlined.
