Dissolve yeast in warm water in small bowl. Meanwhile, in a large bowl, combine milk, sugar, salt, butter and raisins. Stir until sugar is completely dissolved.

Stir in the yeast mixture and half the flour. Beat until doughy soft. Add the eggs and slowly add more flour, beating well, until dough is fairly soft and cleans the sides of the bowl.

Turn out onto a lightly floured board. Knead until dough is elastically smooth, adding more flour if necessary. Kneading should take several minutes.

Place in greased bowl, turn over once to coat thoroughly, cover with a light clean towel and let rise for a good two hours in a warm place. Dough should double in size before proceeding.

Punch down dough, then turn out onto a lightly floured surface, cut in half and shape into loaves (or balls for a flat greased pan or earthenware), place in greased bread pans. Cover again and let rise for an hour.

Bake in a 350°F oven for 45 minutes.

Remove from pans to cooling rack. Meanwhile, combine the confectioner's sugar, vanilla and enough of the 2 tablespoons of milk to make a good running topping. Spread on top of loaves with a knife, or spoon it on lengthwise or widthwise.