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 Regan with Howard Baker. The investigations into the Iran–Contra scandal continued after Reagan left office, but were effectively halted when President George H. W. Bush pardoned Secretary of Defense Caspar Weinberger before his trial began. Investigators did not find conclusive proof that Reagan had known about the aid provided to the Contras, but Walsh's report noted that Reagan had "created the conditions which made possible the crimes committed by others" and had "knowingly participated or acquiesced in covering up the scandal." Three different Soviet leaders died between 1982 and 1985, leaving the Soviets with an unstable leadership until Mikhail Gorbachev