[2] During its existence the party ran in only one parliamentary election, in 2003, and won three seats in the 151-seat 5th Assembly of the Croatian Parliament.
LIBRA was formed in July 2002 and formally registered in September that year, following a split in the Croatian Social Liberal Party (HSLS) when a faction led by Jozo Radoš, then defence minister in the Cabinet of Ivica Račan I, opposed HSLS leader Dražen Budiša's decision to leave the ruling five-party centre-left coalition dominated by SDP, in the hopes of provoking an early election.
However, then Prime Minister Ivica Račan managed to avoid a fresh election by forming a reconstructed Cabinet of Ivica Račan II on 30 July 2002, with the newly formed LIBRA holding two seats in the cabinet - Goran Granić as Deputy Prime Minister, and Roland Žuvanić as Minister for Maritime Affairs, Transport and Communications.
The coalition lost the election to the centre-right Croatian Democratic Union (HDZ), winning a total of 43 seats in a 151-seat parliament, out of which only 3 belonged to LIBRA.
Two of LIBRA's MPs in the 5th Assembly, Jozo Radoš and Vilim Herman, joined HNS, while the third, Željko Pavlic, resigned his party membership to become independent.