If monarchy and democracy can co-exist in Japan, Thailand and Britain, it would be wrong to think that the same can't happen here. After all, the king has been saying over and over that he supports the constitutional monarchy. Now that the parties have an understanding with the Maoists, they should try to forge one with the king too. That would mean moving the Maoists to a position the king would be satisfied with. The parties are in a position to play that role because they have not said that they oppose monarchy: only that they will not accept an autocratic king.
Worldwide, there have been cases where kings refused a ceremonial role and there have been times when even after becoming a republic, a country has had to revert to kingship. In our case, how can the king decide whether to agree to a constituent assembly or to restore the parliament just because demands are being made in the streets, without the mandate of the people? The Maoists can't stage state capture and neither can the parties and Maoists uproot the monarchy. The king can't ban the parties. If they can't get their own way, all three should work together to reach a conclusion.