Giggs last played for Wales in the summer of 2007, but with Ramsey out of the squad with a broken leg and Wales hoping to qualify for Euro 2012, the 36 year old would come in very handy to Toshack.
Asked about a possible international return, Giggs told the Western Mail: "It is something that I would have to talk about with John and Sir Alex Ferguson.
"But, at this stage, I wouldn't dismiss the idea.
"If I had that call from John I would have to think hard about it.
"I would properly consider the idea.
"I wouldn't rule it out."