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
17th G7 summit "core members" of the international forum: British Prime Minister John Major sent a letter to other members of the G7, asking for their permission to invite Mikhail Gorbachev, who has been pressing to come to London to plead for more Western economic support for his country. Pressure to invite Mr. Gorbachev had come mainly from the leaders of France, Germany, and Italy who have made public appeals for him to be invited to attend; but Britain sent the official invitation inviting the Soviet Union to participate. A wry comment which was oft repeated during the summit was that G7 had