1940 peace, does France remain a democracy or become a dictatorship

Say the standard 1940 peace at Dunkirk

Would France remain a democracy or would it become a larger independent Vichy dictatorship
 
if Germany and Britain get a peace that is agreeable to both, France will end up becoming a dictatorship as the military or any group that comes to power will blame the republican government for the defeat and humiliation against the Germans.
 
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