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
Presidency of Ronald Reagan Berlin Wall fell. The Cold War was unofficially declared over at the Malta Summit the following month. A civil war had broken out in Lebanon in 1975, and both Israel and Syria undertook military action within Lebanon in 1982. After Israel invaded Southern Lebanon, Reagan faced domestic and international pressure to oppose the Israeli invasion, but Reagan was reluctant to openly break Israel. Reagan sympathized with Israeli's desire to defeat PLO forces that had struck Israel from Lebanon, but he pressured Israel to end its invasion as casualties mounted and Israeli forces approached the Lebanese capital of Beirut. American diplomat