Following the rescue of Sieglinde and the death of Siegmund, as told in »Die Walküre«, their son Siegfried grows up at the edge of the world with Mime, the brother of Alberich. The dwarf hopes that Siegfried will obtain for him the powerful ring in battle. But the ignorant Siegfried turns against his »father«: After he has killed the giant Fafner and taken the ring, he also murders Mime. Led by a woodbird, he awakens the sleeping Brünnhilde. Now the two have the power to save Wotan’s world of the gods – but love is stronger than political rationality. »Siegfried« is the most visually dramatic part of Wagner’s »Ring of the Nibelung« cycle, inspiring director Willy Decker to create a »theatre within a theatre« for his Dresden production. However, it is unclear who is taking the role of the observer and who is being observed – until the drama detaches itself completely from the stage and seems to advance towards the audience.