Wordpress - Get the taxonomy associated to a post

I need to display an icon associated to a custom Wordpress taxonomy. The code for the taxonomy is:

$labels = array(
    'name' =>  'Country/State/City' ,
    'singular_name' =>  'Genre' ,
    'search_items' =>  __( 'Search Country/State/City' ),
    'all_items' => __( 'All Country/State/City' ),
    'parent_item' => __( 'Parent Country/State/City' ),
    'parent_item_colon' => __( 'Parent Genre:' ),
    'edit_item' => __( 'Edit Country/State/City' ),
    'update_item' => __( 'Update Country/State/City' ),
    'add_new_item' => __( 'Add New Country/State/City' ),
    'new_item_name' => __( 'New Country/State/City' ),
    'menu_name' => __( 'Country/State/City' ),    );
    register_taxonomy( 'location', 'post', array( 'hierarchical' => true, 'labels' => $labels, 'query_var' => true, 'rewrite' => true ) );
    }  

PHP:

I created a folder inside my theme folder which contains the country flags (Spain.png, France.png, etc)
I need to display a list with the latest posts titles with the flag next to it.
So I thought I could do the loop and get, let's say, the latest 10 posts from a post category, display it's title and the icon next to it would be the "path-to-image-folder/taxonomy-country.png"
So I got to this:

<h2>Recent Posts</h2>
<ul>
<?php
$args = array( 'numberposts' => '15' );
$recent_posts = wp_get_recent_posts( $args );
foreach( $recent_posts as $recent ){
        $terms = get_the_terms( $recent->ID, 'location' );
        $flagimg='<img src="'.get_bloginfo('template_directory').'/images/flags/'.$terms[0]->slug.'.png" alt="'.$terms[0]->name.'" border="0" />';
        echo '<li class="country-'.$terms[0]->slug.'"><a href="' . get_permalink($recent["ID"]) . '" title="Look '.esc_attr($recent["post_title"]).'" >'.$flagimg.' '.$recent["post_title"].'</a> </li> ';
}
?>
</ul>

PHP:

but the img src link i get is: http://inovve.net/expoff/wp-content/themes/inovve/images/flags/.png
ie the taxonomy name is missing.... :/

 

So my $terms[0]->slug is empty...

Any idea why???

 

$recent->ID returns null value.... But it shouldn't...

 

what I need is I have a post, that post has a taxonomy, I query the last 5 posts, for each post I need to retrieve the taxonomy name...
I inside the loop
$id = $recent["ID"]; $terms = get_the_terms( $id, 'location' );
I then do
var_dump($terms);
and I get
array(1) { [145]=> object(stdClass)#104 (10) { ["term_id"]=> string(3) “145″ ["name"]=> string(8) “Portugal” ["slug"]=> string(8) “portugal” ["term_group"]=> string(1) “0″ ["term_taxonomy_id"]=> string(3) “146″ ["taxonomy"]=> string(8) “location” ["description"]=> string(0) “” ["parent"]=> string(2) “95″ ["count"]=> string(1) “2″ ["object_id"]=> string(3) “238″ } }
How do I echo 'Portugal'?