This wire is called a main equipotential bonding conductor, and is required in most cases by the wiring standards. 

It does have a purpose: Much of a homes water and gas systems are still run in copper to some extent. This copper system needs to be connected to earth to ensure a good fault path. 

For example: If a live cable touches the copper piping system in your home, if that pipework is connected to earth, it should result in the power going off. 

If instead it isn't connected to earth, then if may not turn the power off. This will then basically turn all the copper pipework live. This could result in an electric shock if you were to touch part of this system: the pipes, the taps, the radiators etc.