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
Mikhail Gorbachev suspension of the deployment of SS-20 missiles in Europe as a move towards resolving intermediate-range nuclear weapons (INF) issues. Later that year, in September, Gorbachev proposed that the Soviets and Americans both cut their nuclear arsenals in half. He went to France on his first trip abroad as Soviet leader in October. November saw the Geneva Summit between Gorbachev and Ronald Reagan. Though no concrete agreement was made, Gorbachev and Reagan struck a personal relationship and decided to hold further meetings. January 1986 would see Gorbachev make his boldest international move so far, when he announced his proposal for the