  Frege's definition of the real numbers, as envisaged in the second volume of
\textit{Grundgesetze der Arithmetik}, is fatally flawed by the inconsistency of
Frege's ill-fated \textit{Basic Law V}. We restate Frege's definition in a
consistent logical framework and investigate whether it can provide a logical
foundation of real analysis. Our conclusion will deem it doubtful that such a
foundation along the lines of Frege's own indications is possible at all.
