The European Union will hold a crisis meeting on Monday to assess the situation in Egypt and examine possible action, including reviewing its aid to the country.
Senior diplomats will discuss the possibility of convening a meeting of EU Foreign Ministers.
Some EU states have suggested formally freezing the 5 bn € $6.6bn) aid package to Egypt.
While the EU is a major donor of development and economic assistance to Egypt, the US is the biggest donor of military aid.
On Friday, European Union foreign policy chief Catherine Ashton said she had asked EU member states to discuss "appropriate measures" that the EU could take in reaction to the violence in Egypt.
"I have been in constant touch with European Union Foreign Ministers, and I have asked member state representatives to debate and coordinate appropriate measures to be taken by the European Union in response to the situation in Egypt," she said in a statement.
Calling the death toll in Egypt shocking, she said responsibility for the tragedy "weighs heavily on the interim government, as well as on the wider political leadership in the country."
German Chancellor Angela Merkel and French President Francois Hollande, who spoke by phone, proposed a meeting of EU Foreign Ministers for early next week.
Merkelsaid Germany would review its relations with Egypt and the EU should do the same.
Hollande also spoke with Italian Prime Minister Enrico Letta. The two men called for an end to violence in Egypt and a return to national dialogue and elections, a statement from Hollande's office read.
British Prime Minister David Cameron called European Commission President Jose Manuel Barroso to express his concern. "They agreed on the need for the EU to send a strong and united message that the violence must end and that there should be transition to a genuine democracy, which would require compromise from all sides," Cameron's office said.
Egypt on Friday warned against ‘’outside interference in internal affairs’’. In a statement, Egyptian foreign ministry spokesman Badr Abdel-Aati said: ‘’We ask the world and the European countries to build their positions and declarations on what really happens in our country – that they reflect terrorists’ armed attacks on Cairo’s streets and other places, which are aimed at terrorising the citizens.”
“We strongly reject any interference in Egypt’s internal affairs. Unfortunately, that’s exactly what we see in remarks and actions of Turkish officials, which are aimed at turning public opinion against Egypt and completely ignoring the will of the Egyptian people,” he continued.