The number of monarchies in Europe dramatically decreased either before, during or shortly after the first World War. Germany, Austria-Hungary, Russia and Portugal all traded in their monarchs for presidents. Now, while I'm not sure if Russia's monarchy could be saved by 1918, the German and Austro-Hungarian Empires seem to have been more as a result of the Central Powers loss than anything else (but then again, I'm no specialist in 20th century history, so I'm not sure).
So, is there a way that the various German and Austro-Hungarian (among others) monarchies can survive? Even if its only in parliamentary monarchy (like the British) form?