Answer: Today´s European monarchies (for ex. Great Britain, Norway, Swedem, Denmark, the Netherlands, Belgium, Spain) are parliamentary monarchies. These monarchies go well with parliamentary democracy. It is legislature that produces the laws: in the case of Great Britain it is an bicameral parliament (composed of House of Commons and House of Lords).
Explanation: whereas in the past European monarchies were absolute monarchies (centered in the person of the king), later on king´s powers were limited and political system evolved into a system divided in three powers (legislature, executive and judicial) usually centered in legislative assembly (parliament) - that is defined in constitutional laws.