European Union Council President Herman Van Rompuy was asked by France and Great Britain to call the meeting, which also has support from Italy, Poland and Spain, the EUobserver reported.
"I will make proposals to the European Council on the strategic lines of the European Union's reaction to developments in Libya and in our southern neighborhood," Van Rompuy said Tuesday in a statement issued from Brussels, the EU headquarters.
A diplomat said France wants to impose new sanctions on Libyan leader Moammar Gadhafi, whom anti-government protesters want to oust from office. The diplomat said the additional sanctions would target government-linked companies to prevent Gadhafi from hiding money. France also is interested in debating military support for humanitarian aid, economic assistance for the broader region and a general reset of relations with North African countries, the EUobserver said.
Germany called the summit on economic governance, where 17 weaker euro-using countries are expected sign on to a legally binding German model of fiscal discipline, the publication said. German officials have resisted calls by countries not using the euro to participate.