I think the U.N. exists as a vehicle for France to continue it's search for relevance.
France wishes to re-attain and preserve some semblance of international stature and dignity by positioning itself as the "leader" of a bloc of nations capable of competing with the U.S. in the economic and military arenas.
There is little chance of this happening, but France will continue to posture.
I think Chirac is afraid everyone is wondering why France is still a member of the Security Council-I know I am.