The most basic translation is SLUT, not necessarily a paid whore or prostitute. It is normally derisive and used to label a "loose" woman, to put it nicely. In some parts of Greece, however, it is
now used as an infomal term of address not meant as an insult. Think of the term "
player" in the US, except as it applies to a woman. Most, however, would take the word a severe insult equivalent to "malakas" for a
man.
The word originated in Greece, but it is now commonly used in Italy,
Turkey, and generally the Eastern Mediterranean.