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 negotiations with the United States over arms control. As his influence on domestic affairs waned during his second term, Reagan increasingly focused on relations with the Soviet Union. Reagan recognized the change in the direction of the Soviet leadership under Gorbachev, and shifted to diplomacy, with a view to encourage the Soviet leader to pursue substantial arms agreements. Reagan's personal mission was to achieve a world free of nuclear weapons, which according to Jack F. Matlock Jr., Reagan's ambassador to Moscow, he regarded as "totally irrational, totally inhumane, good for nothing but killing, possibly destructive of life on earth and