In September 1992, commenting on the referendum held in France on the ratification of the Treaty on European Union, German cartoonist Walter Hanel portrays the risks posed to Europe of the Twelve in the event of a victory for the ‘no’ vote. In the background, the main European leaders are looking haggard and concerned at the future of Europe. From left to right: French President François Mitterrand, Chancellor Helmut Kohl, European Commission President Jacques Delors and British Prime Minister John Major.