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<SEC-DOCUMENT>0000935069-05-001373.txt : 20050611
<SEC-HEADER>0000935069-05-001373.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050527121416
ACCESSION NUMBER:		0000935069-05-001373
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050331
FILED AS OF DATE:		20050527
DATE AS OF CHANGE:		20050527
EFFECTIVENESS DATE:		20050527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GERMANY FUND INC
		CENTRAL INDEX KEY:			0000791718
		IRS NUMBER:				133354384
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04632
		FILM NUMBER:		05862432

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		800-437-6269

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>germany_formnq.txt
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM N-Q
             QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
                          MANAGEMENT INVESTMENT COMPANY
                         -------------------------------

                  Investment Company Act file number 811-04632

                             The Germany Fund, Inc.
                      ------------------------------------
               (Exact name of registrant as specified in charter)


                       345 Park Avenue, New York, NY 10154
                                ----------------
               (Address of principal executive offices) (Zip code)


                               Bruce A. Rosenblum
                  Deutsche Investment Management Americas Inc.
                       345 Park Avenue, New York, NY 10154
                           ---------------------------
                     (Name and address of agent for service)

Registrant's telephone number, including area code: 800-437-6269
                                                    --------------

Date of fiscal year end:  12/31
                          -----

Date of reporting period:  3/31/05
                          ---------

Form N-Q is to be used by registered management investment companies, other than
small business investment companies registered on Form N-5 (ss.ss. 239.24 and
274.5 of this chapter), to file reports with the Commission, not later than 60
days after the close of the first and third fiscal quarters, pursuant to rule
30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The
Commission may use the information provided on Form N-Q in its regulatory,
disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.

ITEM 1.  SCHEDULE OF INVESTMENTS

THE GERMANY FUND, INC.
SCHEDULE OF INVESTMENTS
MARCH 31, 2005 (UNAUDITED)
- --------------------------------------------------------------------------------

   SHARES               DESCRIPTION                VALUE
 ----------             -----------              ----------

INVESTMENTS IN GERMAN SECURITIES -- 89.2%
            COMMON STOCKS -- 84.5%
            AIR FREIGHTS &
              LOGISTICS -- 4.7%
  260,000   Deutsche Post ................    $  6,352,790
                                              ------------
            AIRLINES -- 1.6%
  150,000   Deutsche Lufthansa ...........       2,164,397
                                              ------------
            AUTO COMPONENTS -- 2.8%
   50,000   Continental ..................       3,881,771
                                              ------------
            AUTOMOBILES -- 5.3%
   30,000   Bayerische Motoren Werke .....       1,364,426
  130,000   DaimlerChrysler+ .............       5,824,797
                                              ------------
                                                 7,189,223
                                              ------------
            CHEMICALS -- 12.2%
  145,000   BASF .........................      10,290,033
  190,000   Bayer ........................       6,279,476
                                              ------------
                                                16,569,509
                                              ------------
            DIVERSIFIED
              TELECOMMUNICATION
              SERVICES -- 8.7%
  590,000   Deutsche Telekom .............      11,789,994
                                              ------------
            ELECTRIC UTILITIES -- 4.4%
   70,000   E.ON .........................       6,012,170
                                              ------------
            FOOD & STAPLES
              RETAILING -- 3.0%
   75,000   Metro ........................       4,030,021
                                              ------------
            INDUSTRIAL
              CONGLOMERATES -- 14.6%
  250,000   Siemens ......................      19,804,620
                                              ------------
            INSURANCE -- 10.3%
   50,000   Allianz ......................       6,354,996
   30,000   Hannover Ruckversicherungs ...       1,187,693
   53,000   Munchener Ruckversicherungs ..       6,391,744
                                              ------------
                                                13,934,433
                                              ------------
            MACHINERY -- 2.0%
   60,000   MAN ..........................       2,686,032
                                              ------------
            MEDIA -- 0.5%
   15,300   Premiere* ....................         634,312
                                              ------------
            MULTI-UTILITIES -- 2.7%
   60,000   RWE ..........................    $  3,631,982
                                              ------------
            PHARMACEUTICALS -- 2.4%
   40,000   Altana .......................       2,545,891
   10,000   Merck KGaA+ ..................         713,680
                                              ------------
                                                 3,259,571
                                              ------------
            REAL ESTATE -- 1.1%
   35,000   Hypo Real Estate Holding .....       1,460,124
                                              ------------
            SOFTWARE -- 4.7%
   40,000   SAP ..........................       6,452,186
                                              ------------
            TEXTILES, APPAREL & LUXURY
              GOODS -- 3.5%
   30,000   Adidas Salomon ...............       4,765,566
                                              ------------
            Total Common Stocks
              (cost $83,771,828) .........     114,618,701
                                              ------------
            PREFERRED STOCKS -- 4.7%
            AUTOMOBILES -- 2.7%
   20,000   Bayerische Motoren Werke .....         733,923
    4,000   Porsche ......................       2,906,624
                                              ------------
                                                 3,640,547
                                              ------------
            HEALTH CARE PROVIDERS &
              SERVICES -- 0.8%
   10,000   Fresenius ....................       1,152,269
                                              ------------
            MACHINERY -- 1.2%
   30,000   Rheinmetall ..................       1,596,048
                                              ------------
            Total Preferred Stocks
              (cost $5,885,668) ..........       6,388,864
                                              ------------
            Total Investments in
              German Securities
              (cost $89,657,496) .........     121,007,565
                                              -----------

INVESTMENTS IN DUTCH
    COMMON STOCK -- 1.1%
            DIVERSIFIED FINANCIAL
              SERVICES -- 1.1%
   50,000   ING Groep
              (Cost $1,155,163) ..........       1,511,704
                                              ------------

INVESTMENTS IN FRENCH
    COMMON STOCKS -- 3.9%
            INSURANCE -- 2.0%
  100,000   Axa ..........................    $  2,666,568
                                              ------------
            MULTI-UTILITIES -- 1.1%
   55,000   Suez .........................       1,481,600
                                              ------------
            OIL, GAS & CONSUMABLE
              FUELS -- 0.8%
    5,000   Total ........................       1,171,084
                                              ------------
            Total Investments in French
              Common Stocks
              (cost $4,825,196) ..........       5,319,252
                                              ------------

INVESTMENTS IN SWISS
    COMMON STOCK -- 2.2%
            DIVERSIFIED FINANCIAL
              SERVICES -- 2.2%
   36,000   United Bank of Switzerland+
              (Cost $2,780,973) ..........       3,043,187
                                              ------------

INVESTMENTS IN SPANISH
    COMMON STOCKS -- 2.7%
            COMMERICAL BANKS -- 1.8%
  146,800   Banco Bilbao Vizcaya Argentaria   $  2,392,525
                                              ------------
            DIVERSIFIED
              TELECOMMUNICATION
              SERVICES -- 0.9%
   70,000   Telefonica ...................       1,220,782
                                              ------------
            Total Investments in Spanish
              Common Stocks
              (cost $3,588,987) ..........       3,613,307
                                              ------------
            Total Investments--99.1%
              (cost $102,007,815) ........    $134,495,015

            Cash and other assets in
              excess of liabilities--0.9%        1,175,181
                                              ------------

            NET ASSETS--100.0% ...........    $135,670,196
                                              ============




- -----------
*Non-income producing security.
+All or a portion of the securities were on loan.

- -----------
For information on the Fund's policies regarding the valuation of investments
and other significant accounting policies, please refer to the Fund's most
recent semi-annual or annual financial statements.


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:                         The Germany Fund


By:                                 /S/ JULIAN SLUYTER
                                    Julian Sluyters
                                    Chief Executive Officer

Date:                               May 27, 2005


Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.

Registrant:                          The Germany Fund

By:                                 /S/ JULIAN SLUYTER
                                    Julian Sluyters
                                    Chief Executive Officer

Date:                               May 27, 2005



By:                                 /S/ PAUL SCHUBERT
                                    Paul Schubert
                                    Chief Financial Officer

Date:                               May 27, 2005
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>ex99cert.txt
<TEXT>
                                 CERTIFICATIONS

I, Julian Sluyters, certify that:

     1. I have reviewed this report on Form N-Q of The Germany Fund;

     2. Based on my knowledge, this report does not contain any untrue statement
     of a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

     3. Based on my knowledge, the schedules of investments included in this
     report fairly present in all material respects the investments of the
     registrant as of the end of the fiscal quarter for which the report is
     filed;

     4. The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
     control over financial reporting (as defined in Rule 30a-3(d) under the
     Investment Company Act of 1940) for the registrant and have:


         (a) Designed such disclosure controls and procedures, or caused such
         disclosure controls and procedures to be designed under our
         supervision, to ensure that material information relating to the
         registrant, including its consolidated subsidiaries, is made known to
         us by others within those entities, particularly during the period in
         which this report is being prepared;

         (b) Designed such internal control over financial reporting, or caused
         such internal control over financial reporting to be designed under our
         supervision, to provide reasonable assurance regarding the reliability
         of financial reporting and the preparation of financial statements for
         external purposes in accordance with generally accepted accounting
         principles;

         (c) Evaluated the effectiveness of the registrant's disclosure controls
         and procedures and presented in this report our conclusions about the
         effectiveness of the disclosure controls and procedures, as of a date
         within 90 days prior to the filing date of this report, based on such
         evaluation; and (d) Disclosed in this report any change in the
         registrant's internal control over financial reporting that occurred
         during the registrant's most recent fiscal quarter that has materially
         affected, or is reasonably likely to materially affect, the
         registrant's internal control over financial reporting; and

     5. The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):
<PAGE>

         (a) All significant deficiencies and material weaknesses in the design
         or operation of internal control over financial reporting which are
         reasonably likely to adversely affect the registrant's ability to
         record, process, summarize, and report financial information; and

         (b) Any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's
         internal control over financial reporting.

Registrant:                         The Germany Fund


By:                                 /S/ JULIAN SLUYTERS
                                    Julian Sluyters
                                    Chief Executive Officer

Date:                               May 27, 2005

<PAGE>
                                 CERTIFICATIONS

I, Paul Schubert, certify that:

     1. I have reviewed this report on Form N-Q of The Germany Fund;

     2. Based on my knowledge, this report does not contain any untrue statement
     of a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

     3. Based on my knowledge, the schedules of investments included in this
     report fairly present in all material respects the investments of the
     registrant as of the end of the fiscal quarter for which the report is
     filed;

     4. The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
     control over financial reporting (as defined in Rule 30a-3(d) under the
     Investment Company Act of 1940) for the registrant and have:

         (a) Designed such disclosure controls and procedures, or caused such
         disclosure controls and procedures to be designed under our
         supervision, to ensure that material information relating to the
         registrant, including its consolidated subsidiaries, is made known to
         us by others within those entities, particularly during the period in
         which this report is being prepared;

         (b) Designed such internal control over financial reporting, or caused
         such internal control over financial reporting to be designed under our
         supervision, to provide reasonable assurance regarding the reliability
         of financial reporting and the preparation of financial statements for
         external purposes in accordance with generally accepted accounting
         principles;

         (c) Evaluated the effectiveness of the registrant's disclosure controls
         and procedures and presented in this report our conclusions about the
         effectiveness of the disclosure controls and procedures, as of a date
         within 90 days prior to the filing date of this report, based on such
         evaluation; and

         (d) Disclosed in this report any change in the registrant's internal
         control over financial reporting that occurred during the registrant's
         most recent fiscal quarter that has materially affected, or is
         reasonably likely to materially affect, the registrant's internal
         control over financial reporting; and


     5. The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):
<PAGE>

         (a) All significant deficiencies and material weaknesses in the design
         or operation of internal control over financial reporting which are
         reasonably likely to adversely affect the registrant's ability to
         record, process, summarize, and report financial information; and

         (b) Any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's
         internal control over financial reporting.

Registrant:                         The Germany Fund


By:                                 /S/ PAUL SCHUBERT
                                    Paul Schubert
                                    Chief Financial Officer

Date:                               May 27, 2005



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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