Line a 9 inch square pan with nonstick foil. Using an electric mixer, beat the cream cheese and confectioners' sugar until smooth; beat in the 2 tsp of vanilla. Melt the white chocolate and then add it to the cream cheese mixture and beat until smooth. Fold in the cranberries and nuts.
Refrigerate until firm, at least 2 hours and up to 2 days. Cut into squares of desired size.
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