Liverpool defender Jamie Carragher believes the enormity of the Carling Cup semi-final with Manchester City is similar to that of a European tie.
After overcoming Chelsea in the quarter-final, Liverpool face a two-legged semi-final against the current Barclays Premier League leaders.
With Cardiff City and Crystal Palace in the other half of the draw, Carragher admits the tie could have been more favourable.
"A lot of the people you speak to in the street say it's a tough draw," Carragher said.
"But it's similar to when we played Chelsea in the FA Cup semi-final a few years ago. The other two teams were West Ham and Middlesbrough. People said you'd want to face them.
"But if we'd have got one of the lower league sides this year, with respect to them, you'd be expecting to face Man City in the final.
"So, if you want to win this competition you are probably going to have to beat Manchester City at some point anyway."
With Liverpool yet to play at the new Wembley since its opening in 2007, everyone around Anfield is eager to make their first appearance at the home of football, and Carragher such feats can be repeated year on year.
"I'm looking forward to it. The second leg is going to be like a European night, especially if the first leg goes well," he added.
"The minimum Liverpool should be looking at is getting to one of the semi-finals each year, either the FA Cup or the Carling Cup. We haven't done that enough recently which has been disappointing but we've done it this year and hopefully we can go on now."