ฝึกพูดภาษาอังกฤษด้วยเทคนิค Shadowing จากวิดีโอ: The Plan for a Unified Nordic Stock Exchange Explained

In late January, which now feels like a lifetime ago, Germany, France, Italy, the Netherlands, Poland and Spain came together to create the E6,

a new European grouping that aims to forge ahead with projects of integration to improve the EU's competitiveness and sovereignty.

In the readout after their inaugural meeting, the E6 announced that their first priority, apparently ahead of both internationalising the euro and coordinating defence spending,

was, quote, pressing ahead with the Capital Markets Union.

Since then, nothing much has really happened for the E6's capital markets union, sometimes known as the savings and investment union.

However, another, perhaps more aligned group has emerged in the Nordics.

A consortium of large Nordic companies and investors, unified under the industry alliance Nordic Compass, are investigating the possibility of combining the Finnish,

Swedish, Danish and Norwegian stock exchanges into one pan -Nordic stock exchange.

It has the potential to unlock a capital pool deep enough

to perhaps entice founders to go public in the Nordics rather than list in the US.

In this video, we'll explain why the Nordics are considering unifying their stock exchanges

and what it could mean for the wider European project of a capital markets union.

So far, Trump's return to office has spelled disaster for the European economy.

But the union's got a plan to diversify its trade portfolio, and we've got a breakdown of how it's going to do

it in the latest edition of our magazine too long that's

just one of the articles in our longest issue ever subscribe

to get your copy by clicking the link in the description

so probably the best way to understand what the capital markets

union actually is is to first imagine you're an entrepreneur in europe you've got an idea for a business

but now you need some financing to actually get it off

the ground the obvious place to go is probably a bank

but banks don't generally like lending to small businesses because they're considered systematically important.

In other words, if the banks go bust, they take the rest of the economy down with them, which means governments subject them to lots of regulation that essentially discourages risky loans.

So if the bank says no, your next move is to try what are known as the capital markets.

In other words, go find some non -bank institution or investor to lend you the money.

Broadly speaking, there are two options here.

There's the private market and then there's the public market.

When we talk about the private market, we're basically talking about venture capital investors or other private investment firms who'll lend you the money.

When we talk about the public markets, we're basically talking about listing your company and selling shares in it on a publicly traded stock exchange,

although we should say that listing or going public usually happens later down the line, once your company has some brand recognition or a proven track record,

and typically after raising money from those aforementioned private investors.

There are over 30 different stock exchanges in the EU, meaning more than one per member state, with the vast majority being small, national or even regional stock exchanges.

Most of these are, to be frank, pretty much redundant.

You can't raise large amounts of money, and many of them haven't seen a new listing for years, because companies have essentially decided they're either better off going public elsewhere,

like in the US, or just sticking with private markets and avoiding the bureaucratically burdensome process of going public altogether.

These fragmented markets have led to a flight of high -profile companies from Europe to New York's two major exchanges.

In 2025, for instance, European IPO value fell by 20 % and proceeds dropped 10 % alongside it,

while US IPOs have surged in the wake of the AI boom.

On average, US valuations exceeded European ones by over 30%.

For entrepreneurs then, listing in the US is a no -brainer, though it should be noted there are tentative signs that the trend is turning in 2026.

Although the Nordics have a thriving startup ecosystem, particularly within tech, they suffer the same growth capital issues as the rest of Europe.

For example, companies such as Klarna and Spotify are all listed in the US, despite operating and being headquartered in the Nordics.

According to one study, only slightly more than half, 57%, of Swedish unicorn founders chose to build their companies in their home country,

with the same being true for 47 % of Norwegian founders and 32 % of Danish and Finnish founders.

Many of the remainder go to the US to take advantage of its famously deep capital markets.

This is where Nordic Compass comes in.

Formed in May, it's an industry alliance aiming to develop proposals to solve growth financing and build support among businesses, with some heavyweights such as the Wallenberg Foundation,

Saab, Nokia, Novo Nordisk, Nordia and many more as members.

Ahead of its first meeting in Gothenburg in November, the alliance is rumoured to be putting forward a formal proposal to merge the four stock exchanges.

The Nordic countries are small, populated by roughly 28 million people across the four of them,

but Nordic investors and pension funds manage close to 4 trillion euros and take in more than 150 billion euros a year.

The hope then is that pooling these resources together would convince more firms to list their companies on a Nordic exchange.

There are some reasons to believe this would be helpful.

Some companies that are too big for any of the European stock exchanges, but too small to compete on the New York exchange, end up instead being acquired by larger US companies.

For example, PayPal bought iZettle, Visa bought Tink, and Workday bought Sana.

Had there been a viable alternative capital pool with less competition yet more money, they may have chosen an IPO in their home market rather than an acquisition.

In Europe, more broadly, liquidity fragmentation is cited as a key challenge by asset managers.

It would also mean a stronger global position, potentially even attracting foreign firms to list in the Nordics.

However, there are a few roadblocks.

First of all, Nordic Compass is an industrial alliance, not an institution.

Whatever they may present in November is a proposal which would require political will from all four countries to come to fruition.

A unification is not just one simple reform, it includes harmonising everything from bankruptcy proceedings to corporate governance law and market abuse regulations.

Furthermore, centralising may harm smaller markets and the firms that service them.

There's a fear that activity may naturally gravitate towards the bigger, more liquid venue, which is Stockholm in this case, and may then leave smaller markets such as Helsinki thinner.

This is not to mention the fight that would likely ensue over the placement of the exchange, which may revive some bitter feelings between the four.

There's also the issue of ownership and governance.

Nasdaq owns and operates the Copenhagen, Stockholm and Helsinki stock exchanges, while Euronext operates Oslo.

This raises some awkward questions.

Who controls strategy, technology and fee structures?

How are revenues and costs split between national entities.

Euronext has signalled openness to the idea, but in practice a deal will have to be agreed between the operators.

Nordic Compass has stated that work is still preliminary, so whether the conference in November brings a firm proposal or just further analysis remains to be seen.

The notion that the political establishments in each country, with their fragmented politics and different priorities,

have either the will or the power to actually enact this idea seems even more remote.

However, it is an important signal when major actors across financial institutions, from massive foundations to banks to multinational companies,

all gather under the banner of one idea.

Whatever the result, should the Nordics come to an agreement and successfully unify the capital markets, it will provide an interesting lesson to the E6 and Europe as a whole.

I've already told you about one of the articles in the next issue of too long.

But there's so much more inside you're going to want to discover.

So if you subscribe using code SUMMER26, you'll not only get 20 % off every issue as a subscriber,

you'll also get an additional £3 off your first issue, bringing the cost as low as £4 .99 for a digital edition.

And yes, if shipping, or increasingly tariffs, are making deliveries to wherever you live a little too expensive, you can get a digital version sent straight to your inbox

plus we actually earn more from digital editions as we actually lose money on shipping

so it's also a better way to support the channel this

is a good first issue to jump on board with too it's our longest ever 84 pages

and it contains stories from all across the world including burnham here in britain the wars in ukraine

and iran china and the us's relationship a bit from the vatican

and of course the cover story on the plan to rebuild europe it also contains articles from our superb new writers, Natasha, Isaac, and Ebba.

So make sure to use code SUMMER26 at checkout and become a Too Long subscriber today.

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คำศัพท์และข้อสังเกตด้านการพูดสำหรับบทเรียนนี้

บทเรียนฝึกพูดนี้ใช้วิดีโอ “The Plan for a Unified Nordic Stock Exchange Explained” เป็นสื่อ คำที่ถูกพูดซ้ำบ่อยที่สุด: Nordic, exchange, capital, stock, companies วิดีโอนี้มี 89 ประโยค และ 1533 คำ สำหรับฝึกพูดตาม ช่วงที่มีเสียงพูดยาว 8:50 ผู้พูดพูดด้วยความเร็วเป็นธรรมชาติ ประมาณ 174 คำต่อนาที ใกล้เคียงกับบทสนทนาในชีวิตประจำวัน มีเพียง 79% ของคำที่อยู่ใน 3,000 คำที่ใช้บ่อยที่สุดในภาษาอังกฤษ คำศัพท์จึงค่อนข้างยาก

คำศัพท์สำคัญในวิดีโอนี้

คำที่ควรเรียนรู้ 15 คำจากวิดีโอ พร้อมคำอ่านและความหมาย:

คำศัพท์	คำอ่าน	ความหมาย
investor คำนาม	/ɪnˈvɛs.tə(ɹ)/	ผู้ลงทุน
proposal คำนาม	/pɹəˈpoʊzəl/	ข้อเสนอ
founder คำนาม	/ˈfaʊ̯n.dəː/	ผู้สร้าง, ผู้ก่อตั้ง
alliance คำนาม	/əˈlaɪ.əns/	พันธมิตร
lend คำกริยา	/ˈlɛnd/	ให้ยืม
institution คำนาม	/ˌɪn.stɪˈtʃuː.ʃən/	สถาบัน
priority คำนาม	/pɹaɪˈɒɹɪti/	สิทธิไปก่อน, ความสำคัญ
euro คำนาม	/ˈjʊɹoʊ/	ยูโร
entrepreneur คำนาม	/ˌɑn.tɹə.pɹəˈnɝ/	ผู้ประกอบการ
vast คำคุณศัพท์	/væst/	ว้างเวิ้ง, ไพศาล
earn คำกริยา	/ɝn/	หาเงิน
harm คำนาม	/hɑːm/	ความเสียหาย
lesson คำนาม	/ˈlɛs.ən/	บทเรียน
recognition คำนาม	/ˌɹɛkəɡˈnɪʃ(ə)n/	การจำได้
thin คำคุณศัพท์	/ˈθɪn/	บาง

ไวยากรณ์ในวิดีโอนี้

โครงสร้างที่ผู้พูดใช้บ่อยที่สุด พร้อมคำพูดจริงจากวิดีโอ:

โครงสร้าง	ในวิดีโอ
Present perfect have/has + กริยาช่อง 3 — เหตุการณ์ในอดีตที่ยังเกี่ยวข้องกับปัจจุบัน	has really happened · has emerged · has spelled
Passive voice be + กริยาช่อง 3 — เน้นสิ่งที่เกิดขึ้น ไม่ใช่ผู้กระทำ	are known · should be noted · being headquartered
Relative clauses who / which + อนุประโยค — ข้อมูลเพิ่มเติมเกี่ยวกับคนหรือสิ่งของ	them, which means · venue, which is

การออกเสียงที่ควรระวัง

ผู้พูดใช้รูปย่อและรูปลดเสียง 16 ครั้ง เช่น they're, we're, you'll ให้พูดแบบสั้นตามที่ได้ยิน

เสียง “th”: thin /ˈθɪn/, gather /ˈɡæðɚ/, furthermore /ˈfɜː(ɹ).ðə(ɹ)ˌmɔː(ɹ)/, altogether /ɔl.tuˈɡɛð.ɚ/, thrive /θɹajv/
เสียง “sh” และ “zh”: essentially /ɪˈsɛnʃəli/, institution /ˌɪn.stɪˈtʃuː.ʃən/, recognition /ˌɹɛkəɡˈnɪʃ(ə)n/, establishment /ɪˈstæb.lɪʃ.mənt/, ownership /ˈoʊnɚʃɪp/
คำยาว — ลงเสียงหนักให้ถูกพยางค์: essentially /ɪˈsɛnʃəli/, institution /ˌɪn.stɪˈtʃuː.ʃən/, priority /pɹaɪˈɒɹɪti/, entrepreneur /ˌɑn.tɹə.pɹəˈnɝ/, naturally /ˈnæt͡ʃ.(ə.)ɹə.li/

เสียงที่คนไทยมักออกเสียงยาก:

เสียงท้ายคำ — ออกเสียงให้ครบ ไม่เปลี่ยนเป็นตัวสะกดแบบไทย: proposal /pɹəˈpoʊzəl/, alliance /əˈlaɪ.əns/, governance /ˈɡʌvəɹnəns/, formal /ˈfɔɹməl/, solve /sɒlv/
/v/ — ไม่ใช่ /w/ ให้ฟันบนแตะริมฝีปากล่าง: investor /ɪnˈvɛs.tə(ɹ)/, governance /ˈɡʌvəɹnəns/, vast /væst/, solve /sɒlv/, discover /dɪˈskʌvə/
/z/ — เสียงก้อง ไม่ใช่ /s/: proposal /pɹəˈpoʊzəl/, disaster /dɪˈzɑːs.təː/, acquisition /ˌæk.wɪˈzɪʃ.ən/, proceedings /pɹəˈsiːd.ɪŋz/

วิธีฝึกกับวิดีโอนี้

ฟังวิดีโอให้จบหนึ่งรอบโดยยังไม่ต้องพูด แล้วจดคำที่ยังไม่รู้จัก
เริ่มที่ความเร็ว 0.75× พูดตามทีละประโยค แล้วกลับไปใช้ความเร็วปกติเมื่อเริ่มคล่อง
อัดเสียงตัวเองแล้วเทียบกับต้นฉบับ โดยสังเกตคำอย่าง investor, proposal, founder เป็นพิเศษ

เทคนิค Shadowing คืออะไร?

Shadowing เป็นเทคนิคการเรียนรู้ภาษาที่ได้รับการรับรองทางวิทยาศาสตร์ พัฒนาขึ้นสำหรับการฝึกนักแปลมืออาชีพ วิธีการนี้เรียบง่ายแต่ทรงพลัง: คุณฟังเสียงภาษาอังกฤษจากเจ้าของภาษาและพูดตามทันที — เหมือนเงาที่ตามผู้พูดด้วยช่วงเวลาห่าง 1-2 วินาที การวิจัยแสดงว่าเทคนิคนี้ปรับปรุงความแม่นยำในการออกเสียง ทำนองเสียง จังหวะ การเชื่อมเสียง การฟังเข้าใจ และความคล่องแคล่วในการพูดได้อย่างมีนัยสำคัญ

เทคนิค shadowing: อ่านคู่มือฉบับเต็มทีละขั้นตอน →

ฝึกพูดภาษาอังกฤษด้วยเทคนิค Shadowing จากวิดีโอ: The Plan for a Unified Nordic Stock Exchange Explained

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