Was the wait due to disagreements on the Governing Council? You have to see this decision in the historical sequence of successive decisions taken by the ECB to deal with the crisis. The issues changed pretty fundamentally in 2013–14. In 2011–12 we were facing a crisis of fragmentation in the euro area.
The priority, both from a political and monetary perspective, was to ensure that the euro area remained intact and that monetary policy was transmitted to the countries in crisis.