KICK-OFFpublished at 19:45 Greenwich Mean Time 25 February 2015
It is Arsenal to get things under way with the home fans in full voice.
Kondogbia opens scoring with deflected strike
Former Spurs man Berbatov finishes swift break
Oxlade-Chamberlain gives hope with long-range strike close to FT
But Ferreira-Carrasco then strikes in injury-time - after another Monaco counter attack
Get involved: What do you think of Arsenal's performance?
Gary Rose
It is Arsenal to get things under way with the home fans in full voice.
We asked whether you thought Arsenal would win this tie and reach the last eight. Voting has not closed - thanks if you voted and we will have the results for you shortly.
Martin Keown
Former Arsenal and England centre-back Martin Keown on BBC Radio 5 live
"Sanchez, for those who have not seen him playing, he is a dynamo. I was at the training ground the other day and they almost have to drag him off there.
"I don't think I've ever felt as comfortable in the company of a manager than I did with Wenger and because he comforts players they feel they want to give more for him. He certainly does not seem like a manager looking back. He believes he can win it. And Arsenal, I feel why not?"
Great noise in the Emirates as the two teams walk out with the familiar Champions League anthem belting out. There's definitely a sense of optimism around the ground as the Gunners look to take that unfamiliar step into the quarter-finals.
Arsenal manager Arsene Wenger tells Sky Sports about his decision to change his full-backs tonight: "It's a decision of the day. We are confronted with a few counter attacking players and I felt it a good way to stop them doing it.
How can you guard against the counter attack? "By not losing the ball and by switching quickly from offence to defence when we lose it and by organising as well.
"When we attack and five or six players attack the others have to organise. We have the experience but you cannot always stop it as the game demands risk and risks sometimes expose you."
The players have disappeared back down the tunnel and kick-off is just over five minutes away. Here's a final reminder of the line-ups:
Arsenal XI: Ospina, Bellerin, Mertesacker, Koscielny, Gibbs, Coquelin, Cazorla, Ozil, Sanchez, Welbeck. Giroud.
Monaco XI: Subasic, Elderson, Wallace, Abdennour, Toure, Fabinho, Moutinho, Kondogbia, Dirar, Martial, Berbatov.
Jack Laurance: I'd say Arsenal are at least a couple of years away from developing a squad good enough to win the Champions League. At the moment there are better teams in Europe. We're getting there, though.
Brett Alicia Warren Lidgett: Arsenal are only there to make the numbers up...
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Monaco coach Leonardo Jardim: "Arsenal have developed a lot over the last couple of years and they're a better side than they were two or three years ago.
"They have had some very strong attacking players come into the squad. We beat them in pre-season but that was just a training game so we can't draw too many conclusions; but we'd take the same result [a 1-0 win]. Arsenal are a lot stronger now, though."
Arsenal manager Arsene Wenger: "I've been manager of Arsenal for 18 years and I'm only focused on qualifying for the quarter-finals. Monaco are a team who got 11 points in the group stage - they scored four goals and conceded one - which means they defend very well. That's certainly what they will try to do as they are also very good on the break, quick in transition."
Gareth Murray: Well, Sam from Shrewsbury (19:06), Barcelona lost at home to Malaga. I take it they've no chance either then?
Matt Eagles: How can Arsenal not be contenders? Great football, great players, great manager!
Abdulahi: Arsenal have proven they can beat big teams. The question is, can we beat a big team over two legs?
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The Monaco fans who have made the trip over and are making plenty of noise. They are also nicely colour coordinated, with the top half of fans in one section wearing red rain coats, and the bottom half wearing white rain coats.
Our separate live text commentary on Bayer Leverkusen's last-16 first-leg tie with Atletico Madrid is under way. We will provide goal updates here but head on over for a more in-depth coverage of that game.
Phillip Fort: Re Sam from Shrewsbury (19:06), just take a look at the teams Chelsea failed to beat in the 2011/12 season.
Chris Battle: It feels weird that I'm about to watch Arsenal in the knock-out stages of the Champions League with a sense of optimism!
Tim Sawrey: Surely those saying Arsenal are Champions League contenders don't believe they can beat the likes of Madrid and Bayern?
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Julien Laurens
French football journalist on BBC Radio 5 live at Emirates Stadium
"Monaco will do what they have done so far in the competition and that is defend deep. They have not scored a goal in the first-half during this tournament so you know what you will get.
"This is an interesting project. Financial Fair Play came too early for them, they do not have the revenues to cover what they can spend because the owner is a Russian billionaire so now they go for youth. That's what the plan is now, form them, sell them on later on and start the cycle again.
"There was an English newspaper today which described this game as 'easy street' so we showed that to he Monaco sporting director and he said 'oh really, I will show the players that.'"
You are not wrong Martin, it looks like Arsenal are lining up with a 4-2-3-1 formation, with Olivier Giroud spearheading the attack. He has five goals in his last seven games, but will have his work cut out against a Monaco defence that conceded just one goal in the group stage.
Martin Keown
Former Arsenal and England centre-back Martin Keown on BBC Radio 5 live
"There is a good balance to the Arsenal team. They are spending big money now. There are no excuses. Tonight is about showing the fans that they are the real deal. Perhaps they are more continental than Manchester City. They won't be 4-4-2."
The Monaco players are being treated to some classic British weather right now, rain is falling on to the Emirates pitch as the two teams go through their pre-match warm-ups.
Chris Moorman: Loving Bellerin and Gibbs as pacy fullbacks tonight.
Seany Ekon: It's a mistake, starting Gibbs over Monreal.
Nick Donaldson: Arsenal are better than Chelsea were in 2013 and, with similar luck, could win the Champions League.
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