MADRID: A Spanish court has agreed to slash the 2.7 million-euro ($3 million) bail set for Princess Cristina while she awaits trial for tax fraud.

The Balearic Islands court reduced the bail amount to some 450,000 euros, a figure her lawyer said corresponded to what she might have to pay if convicted.

In a ruling Thursday, the court said the original bail amount was "disproportionate."

Cristina, the 50-year-old sister of King Felipe, is indicted for tax fraud while her husband, Inaki Urdangarin, faces charges of money-laundering and fraud. She is the first royal family member ordered to stand trial since Spain's monarchy was restored in 1975.

Cristina and Urdangarin, through their lawyers, have repeatedly asserted their innocence.

The trial is expected to begin before the end of the year.