The Sinn Féin president Gerry Adams is calling for an all-party, cross-community response to the flag protests and sectarian rioting in the North.
Twenty-nine police officers were injured yesterday in east Belfast during clashes between republicans and loyalists.
Rioters threw bricks, bottles and other missiles at police who responded with water cannon and plastic bullets.
Violence has continued in Belfast for the past 40 days, it was sparked by Belfast City Council's decision to limit the number of days the Union flag is flown at City Hall.
The Tánaiste Eamon Gilmore, the Northern Ireland Secretary Theresa Villiers and Northern Ireland's First and Deputy First Ministers will meet in Belfast next week to discuss the situation.
Glyn Roberts, who represents independent retailers in the North, said the riots are having a dramatic effect on the economy.
Violence broke out in the nationalist Short Strand area, as loyalists returned from a flag protest at the City Hall.
Another peace rally is to be held outside the building at lunchtime today in opposition to Belfast City Council's decision to limit the number of days the Union flag is raised at City Hall.
SDLP policing spokesman Conall McDevitt said the violent minority who are causing these riots must be dealt with.