Reykjavík 1972, Reykjavík hosted the world chess championship between Bobby Fischer and Boris Spassky. The 1986 Reykjavík Summit between Ronald Reagan and Mikhail Gorbachev underlined Reykjavík's international status. Deregulation in the financial sector and the computer revolution of the 1990s again transformed Reykjavík. The financial and IT sectors are now significant employers in the city. The city has fostered some world-famous talents in recent decades, such as Björk, Ólafur Arnalds and bands Múm, Sigur Rós and Of Monsters and Men, poet Sjón and visual artist Ragnar Kjartansson. Reykjavík is located in the southwest of Iceland. The Reykjavík area coastline is characterized
Geneva Summit (1985) first step to breaking down the barriers of tension that existed between the two countries. Reagan's goal was to convince Gorbachev that America desired peace above all else. Reagan described his hopes for the summit as a "mission for peace". The first thing Reagan said to Gorbachev was "The United States and the Soviet Union are the two greatest countries on Earth, the superpowers. They are the only ones who can start World War 3, but also the only two countries that could bring peace to the world". He then emphasized the personal similarities between the two leaders, with both