There is probably a relay for the flashers. When I bought my '95 e300 diesel, the flashers did not work. It was one of the relay modules that sits under the fuse box. I bet the w201 is similar to w124 in this respect.

__________________
-- Chris

'95 E300, 216k miles, Silver Surfer
'05 E320 CDI, 138k miles
'07 S550 4matic, 69k miles

Gone but not forgotten:

'76 300D, 350k miles?, SOLD in 1995
'75 240D, 300k miles, SOLD in 1991