From The Guardian (here):
It wasn't the being called Jeffrey three times by Barack Obama during a meeting of the G8 that would have hurt George Osborne the most, though that would have been mortifying enough. It was the apology. Or rather, the lack of it. Was the president of the US in any way bothered about forgetting the name of the chancellor, a man who is supposed to be, superficially at least, one of the G8's key weapons in fixing the global economy? Far from it. What he said was: "I'm sorry, man. I must have confused you with my favourite R&B singer."
To be fair, it could have been worse. Obama could have called him Ozzy. As, indeed, some of us already do. He could also have called him Gideon, which would have had the virtue of being the name Osborne was given at birth. But Jeffrey was more than bad enough – because of what it implied, more than for what it said. What it implied was that Osborne is a total nonentity on the political stage to Obama; a man whose presence is as forgettable as his name, even when the world's press is gathered for a G8 summit.