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This white paper describes the science case for Very Long Baseline Interferometry (VLBI) and provides suggestions towards upgrade paths for the European VLBI Network (EVN). The EVN is a distributed long-baseline radio interferometric array, that operates at the very forefront of astronomical research. Recent results, together with the new science possibilities outlined in this vision document, demonstrate the EVN's potential to generate new and exciting results that will transform our view of the cosmos. Together with e-MERLIN, the EVN provides a range of baseline lengths that permit unique studies of faint radio sources to be made over a wide range of spatial scales. The science cases are reviewed in six chapters that cover the following broad areas: cosmology, galaxy formation and evolution, innermost regions of active galactic nuclei, explosive phenomena and transients, stars and stellar masers in the Milky Way, celestial reference frames and space applications. The document concludes with identifying the synergies with other radio, as well as multi-band/multi-messenger instruments, and provide the recommendations for future improvements. The appendices briefly describe other radio VLBI arrays, the technological framework for EVN developments, and a selection of spectral lines of astrophysical interest below 100 GHz. The document includes a glossary for non-specialists, and a list of acronyms at the end.