Standard has taken just one point from three games and is now bottom of its Champions League Group.
The Greek Champions Olympiakos’ Kawasaki Stadium is no place for the faint-hearted with the Greek fans being renowned for their unflinching support of their team.
The Standard Coach Bolöni opted for experience in defence, picking Rocha rather than Carcela for his starting eleven.
Standard started well with a Dieumerci Mbokani shot going just over the Greek goal after two minutes of play.
The Olympiakos keeper Nikopolidis was put under pressure by Dalmat and new efforts by Mbokani.
However, the Greeks too had their chances with a Galletti shot hitting the bar.
Standard took the lead on 37 minutes when a Jovanovic pass set De Camargo (photo) free to put the visitors one up.
Standard remained the most dangerous team in front of goal.
However, Olympiakos equalised just before half time when a beautifully taken Galletti free-kick was headed home by Mitroglou.
Jovanovic hit the bar
The second half proved to be as enjoyable as the first.
Standard was the stronger side early on and the Belgian Champions almost took the lead through Jovanovic three minutes in.
However, Nikopolidis’ sharp reflexes saw the shot be diverted for a corner.
At the other end, good work by Bolat served to deny Galletti.
A little later, a Jovanovic shot hit the bar for Standard.
Olympiakos dominated the closing stages of the game.
The Greeks first had a goal disallowed and Bolat was forced to make a number of excellent saves to deny Maresca and Galletti.
Standard seemed to be heading for a well-earned point.
However, the Belgians’ hopes were dashed when Stoltidis scored the winning goal for Olympiakos in the final minute of injury time.