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
Foreign policy of the Ronald Reagan administration the Communist Party was forced to surrender its 73-year-old monopoly on state power. Soviet hardliners rebelled and staged a coup against Gorbachev, but it failed. Boris Yeltsin rallied Russians in the street while Gorbachev was held hostage. By December 1991, the union-state had dissolved, breaking the USSR up into fifteen separate independent states. Boris Yeltsin became leader of the new Russia. In her eulogy to Ronald Reagan at his funeral, former British Prime Minister Margaret Thatcher, whom Reagan worked very closely with during his tenure in office, said, "Others hoped, at best, for an uneasy cohabitation with the Soviet Union;