The Grunsky inequalities in
their standard formulation are a generalization of the area principle. Our purpose is
to apply a variational method to obtain a stronger system of inequalities which
involves both the logarithmic coefficients and the Hayman index of a univalent
function f in the usual class S. One immediate consequence is the well-known
inequality of Bazilevich on logarithmic coefficients. Another application gives a
sharpened form of the Goluzin inequalities on the values of f at prescribed points of
the disk.