While Frances debt to GDP as a single country has reached above that threshold, the driver of statism is the primary currency they use, and they pooled their primary currency with the eurozone (i.e. the euro), and the aggregated country debt ratio for the Euro is still only around 88% largely because they have tied it indirectly to the USD.

Still though, you see high concentration, loss of jobs, high unemployment, all classic signs often seen in socialist states right before major calamity or outright failure.

I'd say though the France won't have gotten to non-market socialism until their primary underlying currency hits those milestones, but they will see the chaos much sooner when the shoe does drop.