I would guess that this word is derived from waste (english) + weir (german)? Can anyone provide a more definitive derivation explanation? (couldn't find anything via etymonline.com) Will keep googling for more info and update if I find anything interesting.
Here are the etymologies:
So actually its "waste"(Latin) + "weir"(German)
I just had to split up the terms and search for them individually:
So you were right Jamie, weir is primarily from Old English, but as you can see from the lengthy etymology, it also may have been derived from proto-Germanic, Latin, Sanskrit, Old Persian and number of other languages.