My summary - not definitely hopeless yet.
Glen, if you are into that type of thing, take a look at the IMF report and it does not make good reading for France. What they cannot see is that having hit rock bottom (-ish) Italy and Spain are on the way back up and leaving space for the next one down, which looks like you know where with the massive outflow of capital.
It is not so much socialist policies, since UMP did no better really, as French isolationism. They are trying to 'run' Europe with Germany and the result is they have taken their eye off the ball, namely themselves in this case, and now splendid isolation is soon going to make them the sick man of Europe. It is past the hour to modernise, open up, join the wider community as partners and so on because they thought everybody would do it their way, which they have not, and now they are all looking for ways of doing better. Even Greece is likely to have to give up the sick man title soon when the safety line is thrown and should they clean up their house, turn themselves around then they'll be able to wave to France in passing.
So yes, France is next. They have been told but will not listen and The Economist is only reiterating that.
Steve, Johnny put up a blog: French prime minister Jean-Marc Ayrault lashes out at The Economist. It looked at exactly the same thing and has links to the Economist, go have a look and join in there.
Apart from that - not sure whether you mean that France or The Economist is not definitely yet!