Mix the flour with the yeast, the sugar and the salt in a large bowl.
Make a well in the center and add the lukewarm milk, one egg and the yolk of the second egg.
Knead by pulling in the flour from the sides, little by little
Until you have a soft dough.
Cover the dough and leave it to rest for 5'.
In the meantime, mix the sugar, cinnamon, cherries and walnuts in a bowl. Set them aside.
Divide the dough into 3 equal parts.
Roll out each part into a thick sheet of 30 cm diameter.
Place the first sheet into a non-stick backing tray. Spread half of the soft butter onto its surface and sprinkle with half of the walnut mixture.
Now place the second sheet, spread the rest of the butter on it and sprinkle with the remaining walnut mixture.
Top with the third sheet and place a small plate of 5 cm diameter on its center (in the photo it's a cookie cutter of that particular diameter).
Using a sharp knife cut 16 pieces, starting from the plate towards the circumferance.
Remove the small plate.
Twist each piece, spirally, turning it 3 times.
Cover with plastic wrap and leave it to rise for 15-40 minutes or as much as it takes until it doubles.
Beat the egg white lightly with a tsp of sugar and brush the top of the vasilopita.
Bake at 180°C for about 25 minutes until golden brown. When it cools, decorate the center with sweet cherries.
