There have been a number of US sites reporting that when the iPhone goes on sale in France, it’ll be available in both locked-to-Orange and unlocked versions.
The unlocked version will apparently cost more than the locked version.
This means two things:
1) The phone is being subsidised, like most phone. It’s just not as transparent.
2) Anyone in the EU will be able to buy an unlocked iPhone.
The EU is a single market. This means anyone can go to France, buy an unlocked iPhone, and take it back to their own EU country and Apple can’t stop them (well, legally. They might try as they do with the iTunes Store).
I expect a lot of people to buy unlocked iPhones in France and ship them to other EU countries.