Fine example of this famous Vichy France / anti-British Nazi Propaganda poster. The present example was reproduced circa 1960.
The image depicts Winston Churchill as a voracious hydra with tentacles grabbing key sites of British involvement in the Second World War. The tentacles are shown being amputated by the German forces and their allies.
The image is a fine example of anti-British propaganda produced under the French occupation after Germany defeated France in 1940.
The strategic locations singled out on the map are meant to appeal to the emotions of the French people. Fresh in the public consciousness were Britain's controversial campaigns against German expansion in the French colonial sites of Dakar and Mers-el-Kébir, which left many Frenchmen dead.
The English translation is "Be reassured, the amputations (of his tentacles) are proceeding methodically".