Nothing wrong with a constitutional monarchy. You get all the benefits from democratically chosen representatives without the downside of the 4-year moodswings. The monarch will always choose what is best for the country instead of what is best for the currently ruling party. It looks at long-term vision instead of just the 4-year term. It takes care of continuity instead of the "this will not be my problem in 6 months" effect you currently see with Obama.