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
Geneva Summit (1985) suggested the Soviets were overly paranoid about the United States (The Soviets had refused to allow American planes use Soviet airfields in post-World War II Germany). They broke for lunch and Reagan promised Gorbachev he'd have a chance to rebut. They talked outside for about two hours on the Strategic Defense Initiative, but both stood firm. Gorbachev accepted Reagan's invitation to the United States in a year, and Reagan was invited to do the same in 1987. On the second day, Reagan went after human rights, saying that he did not want to tell Gorbachev how to run his country,