Again, the ultimate goal is to make the code readable (without sacrificing too much other qualities like performance).

When you have a language and context that makes recursion easier to understand than loop -- go for recursion.

One other reason to go for loops is to make sure you control the stack. With recursion it is not always immediately clear that the loop is going to get tail call optimisation. And good 9/10ths of developers meet me with a blank stare when I mention it. At least with a loop it is clearly visible how much space and in what way you are allocating. I had one dev who said he likes recursion because he says it is more memory efficient. To which I had to point out that each level of recursion creates a new stack frame. The guy just wasn't aware of it...