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 to this gate! Mr. Gorbachev, open this gate! Mr. Gorbachev, tear down this wall!" The last sentence became "the four most famous words of Ronald Reagan's Presidency." Reagan later said that the "forceful tone" of his speech was influenced by hearing before his speech that those on the East side of the wall attempting to hear him had been kept away by police. The Soviet news agency wrote that Reagan's visit was "openly provocative, war-mongering." The East-West tensions that had reached intense new heights earlier in the decade rapidly subsided through the mid-to-late 1980s. In 1988, the Soviets officially declared