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The flashing green light is likely indicative of a self-test failure, indicating the TV has detected some sort of internal fault. With no picture or sound, one strong suspect is the power supply. Flat-panel TV's have an internal DC power supply that converts the inbound AC current, and when these fail, or are unable to supply a minimum level of power to the set, it can behave as you describe, providing only enough power for the green light to illuminate.
Any malfunction associated with a flashing light usually indicates a
circuit problem or defective component. Unfortunately, the days of
taking off the back cover of your TV and replacing a defective tube or
fuse are long gone. Proper servicing will require troubleshooting
procedures that can only be performed by a qualified electronic repair
facility or professional television repair person. Ask for an estimate
and a realistic appraisal of whether the set can be adequately fixed.
Depending on the age and condition of your TV it may not be cost
effective to repair.