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 concrete agreement immediately, or for leading to a staged elimination of nuclear weapons. Reagan was persuaded by Richard Perle to reject limits on SDI testing because Perle thought that the far-reaching arms control deal proposed by the Soviets would improve the Soviet domestic economy and have a beneficial impact on the Soviet standard of living. In the long term, nevertheless, this would culminate in the signing of the Intermediate-Range Nuclear Forces (INF) Treaty in 1987, after Gorbachev had proposed this elimination on 22 July 1987 (and it was subsequently agreed on in Geneva on 24 November). In February 1988, Gorbachev