Beat the eggs with sugar on high speed until light, fluffy and doubled in size.
In a mixing bowl whisk together the flour, yeast and salt. Add the beaten eggs into the flour mixture together with the remaining ingredients.
I find it helpful to bring the dough together using the stand mixer, helping with a spatula just to get things going. Then it’s about 10-12 minutes on the mixer with a dough hook to knead. If you prefer kneading by hand, the dough will feel very soft and wet. It will feel like you need to add more flour, but don’t. We want to achieve a very stretchy consistency that doesn’t stick to your hands, so a mixer is really helpful. Keep kneading until the dough is soft, elastic and stretchy. If you try pulling on it slightly, it should not break.
Place the dough into the mixing bowl, cover with plastic wrap and let rise until doubled in size, about 2 hours.
Once the dough has risen transfer it onto a working surface slightly dusted with flour. Divide in the dough half if you want to bake two smaller breads. Or leave as is for one bigger bread
Working with one half at a time, roll out the dough into 1/8” thick sheet. Smear it with butter, sprinkle with raisins, cranberries, almonds and ground nutmeg.
Roll the dough into a log and using a sharp knife cut it in half to split it into 2 strands, leaving them attached at one end.
Carefully bring the first strand curling it around itself to form the base of the bread. Then curl the second strand around the first one going upwards. Cut side always should be facing out, so we can see all the beautiful layers on the finished product. Hide the end of the second strand inside the formed dome.
Carefully transfer the bread into panettone springform. I used two 12 cm diameter springforms. This will make 2 medium breads or one large bread, if you want to use one springform. Cover the bread with plastic wrap and let rise for another hour or so. Wrap some foil around the base of the springform and place on the baking sheet to avoid the butter leakage.
Bake at 355 F for 35 to 40 minutes for smaller breads. And for larger one bake first 10 minutes at 390 F, the reduce heat to 375 F and bake for 20-25 minutes more. If you see the top starting to burn cover it with foil and continue baking. Let the breads rest for 10 minutes in the form then transfer to a wire rack to cool.
Dust cooled breads with powdered sugar and serve.