What did you expect... They're the French!
True, Iraq owes France quite a bit of money which I'm sure has "some" bearing on their opposition to war in the Middle East. However, I feel the main reason for their constant opposition to any issue the United States is involved with is purely ego driven.
First of all, France can't let go of the fact that they are no longer a world influencing super power as they were in days gone by when Napoleon the Conquerer was sucking up land in France's name like it was going out of style. The French have an immense amount of National pride which is very commendable in my opinion. If you're not proud of your county, you shouldn't live there.
Times have now changed however. France's contributions to the world in the form of art, architecture, cuisine and winemaking are still valid. But they are no longer the world influencing empire they once were, and quite frankly, I think they're bitter about it. They've had their country handed back to them twice at the hands of outsiders, with absolutely no way of gaining their freedom back on their own without help. That's a hard pill to swollow when you're fiercely patriotic.
At any rate, what's the best way to puff yourself back up and instill a feeling of world importance once again? Try to take on the world's strongest country in a way that will have a bearing on the decisions they make. This is exactly what they've done, and I think they feel important again. I do hope that if something ever happens to their Country again, somebody helps them out. I sure would miss my occasional snifter of Cognac...
BTW, I still say they wear funny hats :-)