Arsenal came in with a £12m bid for midfielder Cabaye, which Newcastle turned down.
The Frenchman was unsettled by the offer and had indicated he wanted out of St James' Park.
Ginola told the Daily Star: "He's a great player - he's done really good for the club.
"You have to put things in perspective. Sometimes you make a mistake and you have to be forgiven for that.
"As soon as he steps back on the football pitch at St James' Park he will wear the zebra shirt and that will be it, he will be back on track."
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