I know its some time since this fault reported here, but I had the flashing warning annunciator on my 2.0l TDCi deisel, checked that the acctuator was free on the TurboCharger unit as others have stated, also cleaned out the EGR valve (which is quite easy to do, just remove all the built up crud and give a good clean with inlet cleaaner spray or methylated spirits), also ensured that there was no leaks on the atached rubber hose to the EGR assembly.
With this fault the car will probably run when warmed up although in reduced power 3500 rpm max! Also the engine warning light will be on. My car would struggle to start from cold so this indicated possible faulty glow plugs (these are accesible from the front of the engine bay, but you have to remove the inlet manifold cover to change them). First check that there is 12volt on the common rail to them with a voltmeter with the key turned to ignition.
These plugs can be checked easily when removed you will literally see them glow white hot with 12v on the connector and the metal sheeth grounded to the engine block of the car. If they dont glow then they are goosed. I changed the lot for 30 bucks and now my engine starts first time and the fault is cleared. While you have the inlet manifold cover off though might as well clean all the crud out. PS your turbo unit supplies compressed air via the EGR valve to the inlets so this must all be cleaned to ensure you get power and smooth running. Also ensure you have a clean air-intake filter and MAF sensor is also located there.
You could possible also have injector or fuel pump faults, the FordWiki explains how to check these other items:
http://www.fordwiki.co.uk/index.php?title=Diesel_-_Common_Fault_Diagnosis_%26_Rectifying
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