Don't get us wrong. Despite everything, we still think it is better for Nepal to be a banana monarchy than a banana republic. At a recent forum on 'Media, Military and Monarchy' in Kathmandu, a noted newspaper editor from Thailand said he was shocked by the anti-monarchy protests and its coverage here.

When a monarchy becomes the subject of such sustained and intense criticism, it may be a sign that the country has outlived its need for one, he said. A monarchy is useful if it commands popular respect and authority so it can make discreet and selective interventions to ensure proper governance. But when such interventions lack legitimacy, or the monarch becomes a political player himself, both the king and his kingdom are in trouble.

King Gyanendra can't be seen to be calling the shots because he is supposed to be a constitutional monarch who has nominally transferred executive powers to the government he appointed. But no one really believes that. The Thapa administration exists at the monarch's will and pleasure.

It is up to the king, as a first step in unlocking this stalemate, to make the move to set up an inclusive interim government. And it is up to the parties to offer solutions instead of creating more street mayhem. The king could be looking for a way to roll back October Fourth without losing face. For the sake of the country, the parties have to give him that option. It may also come to a point where it is smarter to risk losing face than to let this drag on with all its unpredictable consequences. Admission of a mismove can be easily made to look like a royal, statesmanlike effort to remove obstacles on the path to democratic renewal.

The street agitation is essentially friendly fire. Have they forgotten who the real enemy is? Are they trying to provoke a mass uprising, and play right into Maoist hands?

The Maoists have filled the vacuum left behind by the absence of the political parties at the grassroots and the absence of parliament at the centre. Each day that passes by without a representative government will only strengthen their revolution.

Democratic pluralism, with all its flaws, is the only bulwark against extremism and totalitarianism. It is the buffer the monarchy needs to return to its constitutional role. That is when the monarchy will again have continuity, be respected, and-like in Thailand-re-earn its role of being the final arbiter in times of deep national crisis.