Here is an article I came across on DealBreaker.
I am not sure I understand the meaning of the following statement - specifically the parts in 
In some ways this is weird – Spain is [ financing a subordinated investment in the financial sector of its economy with a senior lien on all of its economy ], and [ subordinated bailouts could both create more flexibility and give Europe upside in any recovery ] – but in other ways, this is the way the world works.
I am sure this is about knowing the terminology but ...
Can someone help ?