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 Soviet Union cooperated on international issues such as the Iran–Iraq War. When Reagan visited Moscow for a fourth summit with Gorbachev in 1988, he was viewed as a celebrity by the Soviets. A journalist asked the president if he still considered the Soviet Union the evil empire. "No," he replied, "I was talking about another time, another era." At Gorbachev's request, Reagan gave a speech on free markets at the Moscow State University. In December 1988, Gorbachev effectively renounced the Brezhnev Doctrine, paving the way for democratization in Eastern Europe. In November 1989, ten months after Reagan left office, the