The party was founded in 2009 by Stefanos Manos and was led by former New Democracy member Theodoros Skylakakis.

[5] Stefanos Manos left New Democracy (ND) in 1999 to found The Liberals, before later running on ND and Panhellenic Socialist Movement (PASOK) electoral lists in 2000 and 2004 respectively.

It won 1.8% of the vote finishing twelfth overall, directly behind the Democratic Alliance and Recreate Greece, which both had similar liberal ideologies to Drassi.

Ahead of new elections in June 2012 legislative election, Drassi and the Liberal Alliance formed an electoral pact with Recreate Greece,[7] while the Democratic Alliance, which they had also approached,[1] refused to join them and ran on the New Democracy list instead.

[16] Moreover, the party supported privatizations of public assets, using the proceeds for the repayment of undervalued Greek debt in secondary capital markets.