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
Mikhail Gorbachev major campaign to limit alcohol consumption, which Gorbachev—who believed it would improve health and work efficiency—oversaw. His wife keenly supported the measure. As a result, crime rates fell and life expectancy grew slightly between 1986 and 1987. The reform had significant costs to the Soviet economy, resulting in losses of up to $100 billion between 1985 and 1990. Gorbachev later considered the campaign to have been an error. In April 1986 the Chernobyl disaster occurred; in the immediate aftermath, officials fed Gorbachev incorrect information to downplay the incident. As the scale of the disaster became apparent, 336,000 people were evacuated