A semiconductor structure including at least one transistor is provided which has a stressed channel region that is a result of having a stressed layer present atop a gate conductor that includes a stack comprising a bottom polysilicon (polySi) layer and a top metal semiconductor alloy (i.e., metal silicide) layer. The stressed layer is self-aligned to the gate conductor. The inventive structure also has a reduced external parasitic S/D resistance as a result of having a metallic contact located atop source/drain regions that include a surface region comprised of a metal semiconductor alloy. The metallic contact is self-aligned to the gate conductor.