Arsene Wenger has refused to give up on his side's chances of qualifying from the Champions League group stages despite their third defeat on Wednesday night.
Speaking after the match, however, Wenger admitted his side faced a difficult task but was adamant that his side would do all they can to qualify.
Wenger said: "We have a chance to qualify. Olympiakos have to lose here. It's a small chance but a real one. We have to give it all to have a chance to qualify. If Bayern play like they did tonight they will beat Olympiakos.
"We have to realise that if we put in a performance like we did today our chances are at a minimum."
Wenger was backed by Bayern counterpart Pep Guardiola who is confident that the Germans will still try and win their final matches despite already qualifying.
Guardiola said: "You have to know it's impossible to not try to win. Arsenal have to be calm. Be calm and be sure that the trainer and the players are going to try and win.
"Maybe we will not win but be sure we will fight for it. We want to be first in the group. They have the same points of us."