The philandering footballer has joined his wife in Majorca, where she fled with their two children after revelations about his serial infidelities.
Out walking with her husband, 32-year-old Mrs Giggs did not hold his hand and she was not wearing a wedding ring.
Friends say, however, that she has told the multi-millionaire she will give him one ‘last chance’ following his alleged affairs with glamour model Imogen Thomas and his brother Rhodri’s wife Natasha.
‘She has not given him an easy ride and he will need to prove to her he will never cheat on her again,’ said one. ‘Some women may be amazed that Stacey has forgiven him for what he has done, but she loves him and can’t face life without him.’
As they walked with their children on the holiday isle, Mrs Giggs appeared solemn and sombre while her husband seemed ill-at-ease.
The couple are said to have had a series of intense discussions over their future at the luxury villa where the couple and their children - Liberty, eight, and Zach, five - have been staying in recent weeks.
The friend said: ‘She has had to search deep to find forgiveness for Ryan. Luckily for him she is very strong.
‘She believes in marriage and wants it to work. She has not given him an easy ride and he will need to prove to her he will never cheat on her again.
Ryan knows he is on his very last chance.’
The friend went on: ‘It has been the worst time of Stacey’s life but getting away together as a family has helped give them the time to talk about what has happened.
‘There is a long way to go but this make-or-break holiday has worked and they are back on track.
Mrs Giggs – who first started dating the sportsman in 2001 - flew to the Majorcan hideaway first, as the scandal over his sex-life engulfed him last month.The star – who earns £80,000 a week and is said to be worth £34million – then joined her earlier this month.
The family are staying in a £22,000-a-week, seven-bedroom villa. It has been booked for five weeks.
Giggs was named in the House of Commons last month for securing a gagging order over his affair with former Big Brother contestant and glamour model Imogen Thomas, 28.
It then emerged he had an affair over an eight-year period with his brother Rhodri’s wife Natasha and even paid for her to have an abortion.
Rhodri, 34, last week returned from holiday in Portugal after serving wife Natasha, 28, with divorce papers on their first wedding anniversary.
Natasha, who is on holiday in Spain with friends, is said to be considering counter-suing over his alleged affair with brunette
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