Earlier quoted context omitted.
This is quite different from Chernobyl, which didn't even have a proper confinement wall. It's unlikely that it can get as bad as Chernobyl was.
It seems that proper containment is gone in this case...
The containment referred to in this case is a vessel made of a feet-thick layer of concrete surrounding the reactor. This is the final defense if a fuel meltdown occurs: its job is to contain the burning fuel and prevent it from being exposed to the environment. [1]
What the GP was referring to is that there was no such vessel at Chernobyl, which was a very old reactor design. Modern reactors are surrounded in such vessels. [2]
[1] http://en.wikipedia.org/wiki/Containment_building
[2] Here's some information about the reactor design at Chernobyl: http://en.wikipedia.org/wiki/RBMK#Containment
Another interesting read is the story of the Russian engineers who prevented an explosion at Chernobyl by diving into the pool of water beneath the reactor and opening the drainage valves: http://en.wikipedia.org/wiki/Chernobyl_disaster#Steam_explos...