Do you see it in the same context as "Jap", "Paki", and "Jerry"?
Is Jerry offensive? We use it all the time towards Germans, I've never known any Germans to be particularly bothered by it either. Jap and Paki are worse - possibly because people say those terms to anyone who looks vaguely like one.
Nearly as funny as a Canadian complaining about how un-Polish this place is. You chose to turn your back on Poland and swore allegiance to another nation but now you complain about things not being Polish enough: hysterical!
Makes them a Polack, I suppose ;)