The latest chapter in one of Europe's most fierce rivalries will be written on Tuesday when Bayern Munich come to Old Trafford for the first leg of their Champions League quarter-final clash with United.
Giggs is the only current Manchester United player who featured in the most memorable clash between the two European heavyweights 15 years ago.
On that night in Barcelona, United produced one of the most dramatic and unexpected comebacks in history, scoring two goals in injury time to beat Bayern 2-1.
After such a woeful season under David Moyes, United are big underdogs with the bookmakers just to get past the European champions, yet alone make the final in May and lift the trophy.
But that does not faze Giggs one bit.
"Of course it is possible (for United to win the Champions League)," the midfielder said.
"You need to play well, to get that little bit of luck which we didn't have last year.
"Being criticised comes with the territory when you are a Manchester United player and Bayern are a fantastic team.
"They are favourites in most people's eyes, but we are Manchester United and at Old Trafford we have had so many great nights.
"We don't see ourselves as underdogs.
"It is going to be tough but it always is in the quarter-finals of the Champions League
We are looking forward to it."
Giggs' assertion that United are not underdogs flies in the face of all logic.
United are seventh in the Premier League after a terrible season.
The Red Devils are guaranteed to end the season with their lowest points total in Premier League history and they are 10 points adrift of the top four with six matches left.
Bayern, on the other hand, have swept all before them under Pep Guardiola.
The Bavarians won the Bundesliga with seven matches to spare
They are unbeaten domestically this season, and have only dropped six points in the league.
With such a gulf between the two current squads, United would be forgiven for watching a replay of the 1999 final to inspire them, but Giggs says that is not in their plans.
"We won't do that," Giggs said.
"Some of the lads probably don't remember it.
"All the players are different now apart from myself."
Bayern Munich midfielder Arjen Robben cannot wait to return to Old Trafford on Tuesday night as the holders look to maintain their push for a successful defence of their crown
The 30-year-old Dutchman scored one of his best career goals at the venue almost four years ago, securing Bayern's passage to the semi-finals with a sweet volley.
"It's always fantastic to play in England," Robben told fcbayern.de
"And Old Trafford has got something particularly special about it, a fantastic atmosphere.
"As a footballer, you dream of playing Champions League quarter-finals in such atmospheres."
Source : PA
Source: PA