Vintage politician pretty much presided over collapse (7)
I believe the answer is:
Here is my best explanation:
'collapse' is the definition.
(crumpling is a kind of collapsing)
'vintage politician pretty much' is the subsidiary indication.
'vintage' becomes 'cru' (e.g. grand cru).
'politician' becomes 'mp'.
'pretty much' becomes 'le' (I can't justify this - if you can you should give a lot more credence to this answer).
'presided over' is the link.
This may not be right. Some or all of it may belong to another bit of the clue.
(Other definitions for crumple that I've seen before include "crease", "wrinkle", "Go to pieces", "Suddenly lose composure", "Become crushed", "Make wrinkled", "Pucker", "Collapse, cave in", "Become creased and wrinkled" and "Fold, collapse".)