Should monarchy stay in Europe?

This refers to the report, “Spain's king to abdicate” (June 3). Why are there still the institutions of monarchy in European nations like Spain and the UK? The European Union should work for abolition of monarchy in Europe.  Recently, elections were held in European Union, and political parties in Spain opposing the monarchy garnered nearly 20 per cent of votes. Now, these parties are asking for referendum on whether to continue the institution of king in Spain or not. Perhaps, this is the reason why the King of Spain chose to abdicate the throne in favour of his son. The king's daughter is facing charges of corruption in a court. Even the UK has monarchy, and the queen of the UK is also the queen of Australia. Is monarchy not a drain on public exchequer of those nations? In India, the government abolished the privy purses of kings decades back. Why can't it be done in Europe? The European Parliament should hold a special session on abolition of monarchy in Europe.