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 civilization." Gorbachev and Reagan agreed to meet at the 1985 Geneva Summit, where they issued a joint statement indicating that neither the U.S. nor the Soviet Union would "seek to achieve military superiority." The two leaders began a private correspondence after the summit, and each became increasingly optimistic about arms control negotiations. Reagan's willingness to negotiate with the Soviets was opposed by many conservatives, including Weinberger; conservative columnist George Will wrote that Reagan was "elevating wishful thinking to the status of a political philosophy." Various issues, including intelligence operations performed by both countries and tensions in Germany and Afghanistan, threatened