WordPress article list displays default images without thumbnails

<? php if ( get_post_meta($post->ID, ‘thumbnail’, true) ) : ?>

<? php $image = get_post_meta($post->ID, ‘thumbnail’, true); ?>

<a href=”<? php the_permalink() ?>”rel=”bookmark” title=”<? php the_title(); ?>”><img src=”<? php echo $image; ?>”alt=”<? php the_title(); ?>”/></a>

<?php else: ?>

<a href=”<? php the_permalink() ?>”rel=”bookmark” title=”<? php the_title(); ?>”><img src=”<? php bloginfo(‘template_url’); ?>/ assets/images/nopicture.jpg” alt=”<? php the_title(); ?>”/></a>

<? php endif; ?>